Pacaso Introduces Innovative Luxury Second Home Co-ownership Platform in Santa Barbara, California

Fremont, CA: Pacaso modernizes the decades-old practice of co-ownership by creating a marketplace that facilitates purchasing, owning, and selling a luxury second home. Pacaso gives owners all the benefits of owning a second home with less hassle, from curating the best listings in top second-home markets to offering integrated financing as well as sales from as little as 18 to as many as 12 ownership upscale interior design and professional property management.

Pacaso, the leading real estate platform that helps people buy and co-own a luxury second home has expanded its service to Santa Barbara, California. The company has started hiring a regional team and is working with various local businesses to support its operations.

"We're thrilled to be expanding our service into Santa Barbara,'' stated Pacaso CEO and co-founder, Austin Allison. "Known for its beautiful beaches and gorgeous Mediterranean-style homes, along with the backdrop of the Santa Ynez Mountains, Santa Barbara has long been a dream destination for buyers. However, many are left waiting on the sidelines due to escalating prices and a lack of homes for sale. With Pacaso, people looking to purchase a second home here now have a new solution. A small group of families can up-level their buying power through co-ownership of a luxury home. Not only does this make more efficient use of housing stock, but it also redirects second home buyers away from the mid-tier market, freeing up that inventory for local primary homebuyers."

Pacaso collaborates with all real estate agents and brokerages in the markets where it operates. Real estate agents who represent buyers who purchase a Pacaso home receive a 3 percent referral commission as well as 500 RSUs of Pacaso stock as a referral equity bonus. Pacaso agents in Santa Barbara who are interested in working with the company can learn more by visiting the company's website.

"Working with the Pacaso has been a pleasure, and it's obvious to me that the Pacaso team has a passion for their business, and goes above and beyond for their customers," remarked Sotheby's International real estate agent Tyler Mearce. "Pacaso brings something new to the table: they only purchase luxury homes in second home destinations, and because they offer up to eight shares of ownership per home, their model actually helps increase inventory in the area."

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