Private Residence Clubs and Luxury Fractional Property
Owners of luxury fractional property buy a share of a single residence, that provides them with a couple of weeks to thirteen weeks of usage a year. The ownership period varies by development and can be expressed as a fraction (eg 1/10, 1/8, or ¼) or as a number of weeks (eg 5, 6 or 12 weeks).
Private Residence Clubs are the upper tier of the luxury fractional market, providing all the services of a five star hotel together with the ownership.
There are hundreds of fractional and Private Residence Club developments located in city, beach, mountain and resort destinations. Use our home directory to search through these locations.
They are sometimes compared to timeshares, although there are several key differences. For instance luxury fractionals are in better locations, are more luxurious and typically larger, providing 2, 3 or 4+ bedrooms. They also offer true, deeded ownership whereas timeshares usually just offer a "right to use."
The Queen Anne Mansion is a museum-like model of 19th-century opulence located in Eureka Springs, Arkansas. Owners Lata and Steve Lovell have just spent several years meticulously restoring this historic 12,000 square-foot mansion. With a view to preserving it for the next 100 years and beyond, they have formed the Queen Anne Mansion Preservation Trust, as a private residence club.
Vail is known internationally known for its superior skiing, brilliant blue skies and an abundance of breathtaking scenery. This private residence club and hotel allows owners to be in the heart of it all while enjoying the ultimate in luxury.
Aspen is known worldwide as the Rocky Mountain playground for the rich and famous - it is sophisticated, artistic, and athletic - and it’s here that you’ll find Dancing Bear Aspen a new and luxurious private residence club.
The National Association of Realtors (NAR) just reported that sales of vacation homes in the US rose 7.0 percent to 502,000 in 2011 from 469,000 in 2010. This is certainly an encouraging sign after falls in prior years and reinforces the trend seen in fractionals, where overall 2011 sales were up 4%.
Four Seasons has recently announced that it will be opening a new resort community at Disney World. Planned to open in 2014, the Four Seasons Resort Orlando at Walt Disney will include a 444-room hotel, 40 residence club units and up to 90 private residences. The new development will be an enclave within the existing Golden Oak residential community which was created and master-planned by Disney.
While it's no secret that North America boasts many incredible skiing destinations, choosing the location that packs both great snow and slopes with great service, good food and other desirable features can be overwhelming. Thankfully, the readers of SKI magazine have taken much of the guesswork out of the equation, and with many of these resorts opening this week, now is the time to look at places to stay.
Many second home markets have seen price drops of 20-40% over the last few years. Private residence clubs and luxury fractionals in these markets have reflected these overall real estate trends. In some cases the prices are down by over a hundred thousand dollars. Here are some examples in some sought after locations.
Owning your own ski home may mean you spend more time worrying about burst pipes and roof replacements, than the time you spend enjoying the slopes. That's where shared ownership comes in. It removes the worries and hassles of ownership, while giving you a place to call home. Deer Valley offers several high end fractional options.