A New Year, A New View on Luxury Vacation Real Estate

With the real estate roller coaster of 2009 nearly behind us, it's hard not to breeze into 2010 on a cloud of optimism, excitement and new intelligence. Even as Inman News predicts that "the 2010 market will be different than any real estate professional has ever seen," the future still looks bright for the private residence club industry. After all, NAR's Chief Economist Lawrence Yun forecasted earlier this year that more international buyers will enter the market in 2010 due to favorable exchange rates against the US dollar. That's welcome news for shared interest private residence clubs like The Elan Collection, which appeals to elite buyers from all over the world.

Here are four other "signs" that point to a smoother New Year:

1. Growth. The US shared interest real estate market has grown to a 1.6 billion dollar industry, according to Fractional Life.

2. Jumbo Loan Trouble. The lack of available financing in the luxury real estate market is not exactly good news, but it does mean that there are more opportunities for cash buyers to purchase the most prized vacation properties at a lower cost. The end result could be that shared interest properties will see more play in 2010.

3. The Value of Vacation. According to The Affluent Shared Ownership Buyer: A Market Profile, nine out of 10 affluent leisure travelers say that vacationing is important to their well-being and the health of their personal relationships. Affluent consumers today still value their time, yet they realize the need to diversify their assets as they balance the lifestyle choices they view as important. Shared interest private residence clubs like The Elan Collection provide a more sensible way to acquire some of the most exclusive properties in the most renowned vacation destinations in the world.

4. Influx of Smart Buyers. Regardless of net worth, buyers are thinking about the value of all of their real estate purchases. Elite buyers are facing the reality that the actual use and maintenance costs of a vacation property does not support the sole-ownership investment. Shared-interest ownership in a luxury property of their choice provides the same realistic use and enjoyment as sole-ownership--yet at a fraction of the price. After all, who doesn't like a 'smart-buy'?

While none of us can predict the future, it's wise to keep our eyes on the present. In just two days, we'll ring in 2010 with new properties, new destinations and new opportunities to lead a haute life. Happy New Year to all!

Priority Sales Reservations Begin for The Élan Collection's Luxury Las Vegas Penthouse

All eyes have been on CityCenter Las Vegas this month, but where will elite travelers stay if they want an extra level of space and privacy away from the sleek, buzzing "capital of the new world"?

They might find just the right combination of exclusivity and square footage at The Élan Collection's Turnberry Place, a modern two-story Las Vegas penthouse overlooking the Strip. Now accepting priority sales reservations for its deeded, shared ownership interests, Turnberry Place encompasses more than 12,000 square feet, including over 3,000 square feet of wrap-around terraces offering dazzling 360-degree views of the city and surrounding desert mountains. Turnberry Place features exquisite art and furnishings designed for elegant entertaining, a variety of A-list appointments and personal services, and exclusive membership in The Stirling Club.

Only 16 shared interest deeded ownership opportunities will be offered for Turnberry Place. Priority sales reservation pricing starts at $1.5 million per deeded interest. Want more information? Email stonkin@elanPRC.com for details.

The Elan Collection team would like to wish everyone a Merry Christmas! We hope you are celebrating the holidays in style.