MULTIZ321
TUG Member
- Joined
- Jun 6, 2005
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- FT. LAUDERDALE, FL
- Resorts Owned
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BLUEWATER BY SPINNAKER HHI
ROYAL HOLIDAY CLUB RHC (POINTS)
Prices for Private Residence Clubs Slow to Recover - by Paul Sullivan/ Your Money/ International New York Times/ The New York Times/ nytimes.com
"SEVEN years after prices for private residence clubs and other fractional developments collapsed, the value of a small slice of paradise is still far from recovered.
Sales last year began to pick up, hitting $516 million, but that is just a quarter of what it was in 2007, according to a recent report from Ragatz Associates, which tracks this market. And the prices for those shares that did sell are still down 25 to 30 percent from the peak.
Who is right may only be known years from now. But if ever there was a time to ask what it was like to own — or be unable to sell — a partial share in a vacation home, it may be now. How did owners fare? And what caveats should a new buyer bear in mind?..."
The Cloister Ocean Residences at Sea Island, Ga. Sales of private residence clubs and other fractional developments in North America were $2.3 billion in 2007; this year, they are expected to top $1 billion.
Richard
"SEVEN years after prices for private residence clubs and other fractional developments collapsed, the value of a small slice of paradise is still far from recovered.
Sales last year began to pick up, hitting $516 million, but that is just a quarter of what it was in 2007, according to a recent report from Ragatz Associates, which tracks this market. And the prices for those shares that did sell are still down 25 to 30 percent from the peak.
Who is right may only be known years from now. But if ever there was a time to ask what it was like to own — or be unable to sell — a partial share in a vacation home, it may be now. How did owners fare? And what caveats should a new buyer bear in mind?..."
The Cloister Ocean Residences at Sea Island, Ga. Sales of private residence clubs and other fractional developments in North America were $2.3 billion in 2007; this year, they are expected to top $1 billion.
Richard