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Prices for Private Residence Clubs Slow to Recover

MULTIZ321

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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?..."

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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
 

Luvtoride

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Richard, I guess this is for some people but not the typical timeshare owners here on TUG. I'd be interested if anyone has had experience with the luxury home vacation clubs like Exclusive or Inspirito. I get bombarded by their emails all the time. At $15k to join and $3k annual membership fee PLUS the nightly cost of the home rentals, it sounds like a pretty pricey proposition. Has anyone used these?
Brian
 

TUGBrian

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we had some less than stellar experiences with some high end fractionals a few years back (high country club comes to mind).

such a massive investment with the risk of imploding just like that one did.
 

MULTIZ321

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Richard, I guess this is for some people but not the typical timeshare owners here on TUG. I'd be interested if anyone has had experience with the luxury home vacation clubs like Exclusive or Inspirito. I get bombarded by their emails all the time. At $15k to join and $3k annual membership fee PLUS the nightly cost of the home rentals, it sounds like a pretty pricey proposition. Has anyone used these?
Brian

Hi Luvtoride,

As TugBrian mentioned, there was interest in high-end fractionals by some Tuggers a few years back. It's definitely out of my price range. I posted the link for those interested in what's happening in the fractional market.

On a different note, Sea Island is part of the Golden Isles.

For those not familiar, the Golden Isles are a combination of the coastal city Brunswick, Georgia and a group of barrier islands on the eastern Georgia coast. Namely, Jekyll Island, St. Simons Island, Little St. Simons Island, and Sea Island.

For more info see www.goldenisles.com

For those interested in financial history and Jekyll Island's role in the founding of the Federal Reserve System see www.jekyllislandhistory.com/federalreserve.shtml

For US history and Naval history buffs - St. Simons Island was where the Live Oak Timber was harvested and shipped to Boston in 1794 for the construction of the USS Constitution ("Old Ironsides"). See www.glynncounty.com/oaktree.pl?id=00009695
and Captain Gascoigne, St. Simons Island, Georgia - http://www.waymarking.com/waymarks/WMGNJ5_Captain_Gascoigne_St_Simons_Island_GA

Richard
 
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pacman777

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Richard, I guess this is for some people but not the typical timeshare owners here on TUG. I'd be interested if anyone has had experience with the luxury home vacation clubs like Exclusive or Inspirito. I get bombarded by their emails all the time. At $15k to join and $3k annual membership fee PLUS the nightly cost of the home rentals, it sounds like a pretty pricey proposition. Has anyone used these?
Brian

I get tons of emails as well on joining. It seems they drop the price and offer better deal everytime (e.g., they'll waive initiation, etc.). I haven't responded or even looked into it as I'm very happy with my Starwood timeshares. I think one of them is tied to American Express as I was offered $50 AMEX giftcard if I responded to a reply card with my contact info. I don't give out my cell, but have an ooma line that goes to voicemail so I'm sure they've been leaving tons of messages.
 

1Kflyerguy

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I looked at Inspirito, pretty closely, but could not justify the cost.. i just don't see the value for the investment..

I guess your paying for the curated experience, pre-screened rentals...

Maybe if i had more bucks, and wanted to travel with large family groups it might make sense..
 
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