Want your pick of an international selection of $4 million+ villas as your vacation choice? One of the hottest new trends in vacation real estate these days is fractional ownership. While hotels such as the Ritz Carlton and the Four Seasons offer franctional memberships of their hotel/condos, there's another option that may be even more attractive to luxury travelers.
The Robb Report named ExclusiveResorts and Quintess as the two top "destination clubs" for 2008. The Exclusive Resorts program charges an initiation fee, much like a country club. The amount of the fee is based upon how many days you plan to use your membership. For example, if you plan on using it 30 days a year, the fee is $269,900. If you plan on using it 60 days per year, the fee is $479,900. The membership fee is 75 percent refundable. You are then charged an annual fee. For 30 days, the current fee is $29,900 and for 60 days, it's $59,900. That translates into a $1,000 per day. Given that many of these properties are in locations where a suite would be several thousand per day, that's quite a good deal. Exclusive Resorts currently has 350 homes in 35 locations and is adding another 120.
Quintess currently has 425 members and over 80 homes. Their luxury properties have an average value of $4 Million or more. Their 30 day use program is $291,500 and their 60 day use program is $555,000. To use their properties 30 day per year, the dues are $26,500 and for 60 days, the dues are $50,250. Programs that include prime time holidays are higher. Their website doesn't say whether any part of the membership fee is refundable. Given that many of these properties sleep up to 12 people, this is an exceptionally good value. Also, you have the option of going to different places in the world without the worry of having to maintain the property the 300+ days that you are not using it.
Posted by Bernice Ross, www.ListenandLearnRealEstate.com, a library of over real estate training podcasts for less than $1.00 per day. If you want the best real estate training in the business, visit us at www.RealEstateCoach.com