Real estate 'by the slice'

Frustrated sellers turn to fractional ownership for quick relief

Can’t find a buyer for your luxurious beachfront villa? Maybe you could sell it by the slice.

That’s an evolving strategy among homeowners in resort areas who have given up on finding a buyer in the usual way and are turning to the concept of fractional ownership.

"Who wouldn’t want to live in a $3 million house for four weeks a year for $300,000 — and own it?" asks Evelyn Bernet, an agent with Wagner Realty in Sarasota, Fla., who recently began marketing a home on nearby Anna Maria Island through fractional ownership.