The Elan Collection Debuts Exclusive California Lifestyle Collection

The Elan Collection has announced the debut of the California Lifestyle Collection. An exclusive, limited offer, the California Lifestyle Collection is a rare opportunity to own a share of four of the finest lifestyle properties in California.

Future owners will have the glamour and sophistication of an historic mansion in San Francisco, the relaxation and tranquility of a 43-acre wine country estate in Napa Valley, the world-class golf experience of a private villa overlooking the Pebble Beach Golf Course and the excitement of skiing and boating at a lakefront retreat on Lake Tahoe. As with all Elan properties, each share comes with The Elan Collection's five-star concierge services and management program for a truly carefree ownership experience. There is also opportunity to exchange reciprocal usage within other Elan Collection homes in Aspen, Santa Barbara, Jackson Hole Wyoming, Las Vegas, Turks and Caicos, Cabo San Lucas, South of France and future locations. Only 10 shares are available in the California Lifestyle Collection. For more information, contact Olivia Hsu Decker at (415) 435-1600.

The Shrinking Second Home

The Wall Street Journal covered a story back in August 2010 called "The Shrinking Second Home," and we still think it's interesting now. The article, by Juliet Chung, touted the trend of "affordable housing for the affluent." While it didn't cover the luxury fractional market, per se, it did highlight a growing niche catering to people seeking a second, or third, or even fourth home with top-of-the-line amenities like concierge, beach access or golf course access--that doesn't break the bank. It seems The Elan Collection isn't alone in our belief that owning a luxury vacation home need not tie up all of your financial assets or come with the stresses and responsibilities associated with typical home ownership...and we think that's just grand.

Market for Vacation Homes on the Rise

According to the Wall Street Journal this week, "sales in many vacation communities across the U.S. soared last year to levels not seen since boom times." The market for vacation homes seems to be growing in the wake of price reductions, growing optimism about the future and buyers' rising stock portfolios, said NAR economist Lawrence Yun in the article. (He also noted that demand is strongest in areas close to stable labor markets.)

The uptick in demand for vacation homes seems to suggest buyers' return to the ultimate luxury in life: time. The affluent want more time with their families, more time to build memories and more time to enjoy the fruits of their labor. Yet, rather than burden themselves with the responsibilities of whole ownership, they could seek out fractional home ownership with a private residence club like The Elan Collection. A fractional vacation home in their favorite destination--be it the Southern California coast or the mountains of Aspen--gives them the opportunity to enjoy four weeks of guaranteed use in the home of their choice, while being treated to amenities and services such as a personal concierge, onsite luxury vehicle, personal item placement in the home and more. The Elan Collection also takes care of all of the details associated with typical home ownership and property management. And best of all, owners have the option of exchanging use rights for another Elan property of their choice...which means there will always be a new vacation adventure to experience.

What's your pulse on the vacation market? Are buyers more optimistic this year, compared to last year?

Luxury Real Estate Market Predictions 2011

Nothing inspires market predictions like a New Year. Along with a new sense of optimism and opportunity, comes the usual chorus of predictions sung by real estate experts and economists. Will the luxury market continue its recovery in 2011? Will international buyers be entering the market with the same enthusiasm as they did in 2010? What will the luxury housing narrative be in 2011?

These are the kinds of questions even the savviest real estate investors are asking themselves as they usher in 2011. Thankfully, our friends at Ocean Home magazine have offered up some answers. The editors recently interviewed Laurie Moore-Moore, Founder and CEO of The Institute of Luxury Home Marketing in their recent report, "Luxury Market Predictions for 2011." Here are some key insights from the interview:

1. HOUSEHOLD WEALTH RECOVERY

"Unless we have some 'wild card' economic event that sends everything spiraling down, the wealth recovery will continue and it will continue to be more global," said Moore-Moore. She noted that North America, Europe, China, Russia, Turkey and Brazil will continue to see a greater percentage of growth in the number of wealthy households. And what about the U.S., specifically? Net worth for U.S. households and individuals increased 2 percent in third quarter 2010. While the average U.S. personal savings rate climbed from 0.4 percent in 2005 to 4.3 percent in 2009, and hit 5.5 percent in third quarter 2010. All of these factors seem to indicate that more affluent consumers may be in a stronger position to purchase a luxury vacation home in 2011.

2. LESS IS MORE

We've been saying this for the last year: affluent consumers are shifting away from conspicuous consumption towards conscientious consumption. This trend will continue in 2011. Says Moore-Moore: "Attitudes of affluent consumers appear to have undergone some changes since the economic meltdown. At least for now, 'whispering wealth' rather than 'flaunt it if you have it' seems to be a common philosophy." The luxury vacation home search is now defined by quality and exclusivity as opposed to big, boisterous displays of wealth. As BUILDER magazine's Jenny Sullivan pointed out at the end of 2010: "Today's value set is more cerebral, focusing on simplicity, resourcefulness, health, community, and practicality." Simplicity, resourcefulness, practicality, quality and exclusivity are values at the very heart of The Élan Collection, which brings the benefits of luxury fractional home ownership to the exclusive world of private residence clubs. Simplicity...because Élan owners can enjoy resort-caliber amenities and services while The Élan Collection takes care of all of the details associated with typical home ownership and property management. Practicality...because they are only buying what they will realistically use. Quality...because The Élan Collection offers uniquely crafted properties so rare that they can never be duplicated at any cost today. And exclusivity...because The Élan Collection only offers a handful of fractional opportunities in each residence, and many residences are set behind private gates, nestled on their own private beach or tucked away on a quiet hillside overlooking town.

3. LUXURY MARKET PERFORMANCE

"Nationally, the luxury housing market has already started to outperform the overall housing market. According to the National Association of Realtors, the market segment which has seen growth in the number of transactions in 2010, is the over $1 million price point," said Moore-Moore. Manhattan is one area where the luxury market's upward motion is in full effect. The New York Times reported today that luxury home sales of $3 million and up made a strong return in the final months of 2010.

4. INTERNATIONAL BUYERS

According to Moore-Moore, U.S. purchases by international buyers will be important in 2011. "The growth in wealth around the world will help fuel demand for foreign buyers to purchase in the U.S. The U.S. is still viewed as a safe haven for investment," she said. She also noted that "prime property in prime locations (especially waterfront with private docks or marina access) will lead the rebound when it comes." That's welcome news for future owners in The Élan Collection. From a beachfront estate on the Turks and Caicos Islands to a spacious lakefront retreat right on Lake Tahoe, Élan's properties have been handpicked for their sought-after locations in some of the world's most desirable destinations. And what's more, The Élan Collection continues to search out properties in prime locales across the U.S. and abroad to give owners the quintessential Élan vacation lifestyle experience.

No doubt, 2011 will be the year to watch for luxury real estate buyers. Will they look back on 2011 with pride, knowing they invested in a luxury vacation experience that allows them to put their own well-being and the health of their personal relationships first?

Shared Ownership Trend Watch 2011: Elan Style

What exactly are "twinsumers" and "social-ites"? Ever heard of "urbanomics"? And what about the oxymoron, "planned spontaneity"?

These are some of the trends to watch in 2011, according to the forward-looking folks at www.trendingwatch.com. You can find the complete list of trends here, but The Élan Report is covering 5 trends as they relate to the shared ownership resort real estate industry: Urbanomics, Pricing Pandemonium, Social-ites and Twinsumers, Planned Spontaneity and Owner-less.

1. URBANOMICS:

Not a surprise to us, but urbanization will be a top trend--not only for 2011, but possibly for the next decade--as people move out of the suburbs and back into the cities, where they're seeking a lifestyle with easier access to employment, arts and culture, transportation, etc. "Urban consumers tend to be more daring, more liberal, more tolerant, more experienced, more prone to trying new products, and services," wrote Don Long of PMA Newsline. What does that mean for The Élan Collection, and for those of us in the shared ownership resort industry? It could mean offering more properties in desirable urban centers, such as Manhattan, San Francisco or San Diego. Or it could mean that future marketing must appeal to the refined and sophisticated tastes of urbanites.

2. PRICING PANDEMONIUM:

Although consumers have always kept an eye out for special offers and discounts, 2011 will usher in a new era of what Trending Watch calls, "Pricing Pandemonium." Since more consumers are constantly connected to their social media networks, they can quickly and easily spread the word about new deals and promotions online. Also, consumers will increasingly become part of exclusive networks or groups to receive those special deals. With the advent of Groupon and other like groups for the retail sector, The Élan Collection started offering Ultimate Escapes members a special 15% discount for shared interest ownership in Élan residences through November 30, 2010. We also offered a special summer discount promotion.

3. SOCIAL-ITES AND TWINSUMERS:

We already know that word of mouth and recommendations are part-and-parcel to any modern marketing strategy--regardless of the industry. "Twinsumers" are "consumers with similar consumer patterns, likes and dislikes and who are hence valuable sources for recommendations on what to buy and experience," according to Long. Meanwhile, "social-ites" are about discovery, i.e. they are online curators, "actively broadcasting, remixing, compiling, commenting, sharing and recommending content, products, purchases, experiences to both their friends and wider audiences," added Long. The Élan Collection recognizes the importance of word of mouth (as exemplified by our presence on Twitter and Facebook) to capture affluent audiences who are increasingly using social media. However, we also place a high value on recommendations and referrals. A survey by The Luxury Institute found that an overwhelming majority of wealthy consumers rely on ratings, reviews sites, trusted experts, as well as their own friends and family to facilitate purchasing decisions.

4. PLANNED SPONTANEITY:

Because lifestyles have become more fragmented in recent years due to urbanization (leading to more diverse activity choices) and smartphones (which make it easy to plan on a whim), 2011 will be the year of "planned spontaneity," says Trending Watch. "Consumers today want services that allow for "endless and almost effortless mass mingling with friends, family, colleagues or strangers-who-may-become-friends-or-dates," wrote Long. It isn't that much different for affluent travelers: ease of use remains at the top of their wish list. Planning luxury vacations has never been easier with The Élan Collection. Élan Owners can conveniently book their vacation through an online Reservation System. And since the properties are already built and lavishly furnished, owner-members can vacation at their Élan property as soon as the property closes escrow. But here is the best part: owners will have the option to exchange property use rights for equal time at any Èlan property of their choice...ensuring owners will never grow bored of vacationing in one locale.

5. OWNER-LESS:

2011 will be the year of "access," as opposed to full ownership, concludes Trending Watch. Why? "Traditional ownership implies a certain level of responsibility, cost and commitment," notes Long. Fractional ownership opportunities, such as those found at The Élan Collection, "offer the possibility of perpetual upgrades to the latest and greatest, the ability to maximize the number and variety of experiences, and allow consumers access to otherwise out-of-reach luxuries"--such as a beachfront palace in the Turks and Caicos. Now that is a trend we can (and will) get behind!

Do you agree with these trends? What other trends are you seeing for 2011? Please share them with us!

Sneak Preview: Elan's New Lake Tahoe Waterfront Estate

In anticipation of a full announcement of The Élan Collection's newest addition in Lake Tahoe, we thought we'd offer up a sneak preview of the waterfront estate in Zephyr Cove, Nevada.

Providing full lakefront access, this "unique treasure" of an estate features more than 5,000 square feet of sumptuous living space, four bedrooms, six baths, two lakeside decks, a private sandy beach, an office/study and a family game room with home theater. Stunning architectural design and details permeate the residence and are highlighted by a dramatic staircase and unique wall finishes. The functional floor plan is suitably designed to accommodate groups of all sizes. Élan owners and guests of this Lake Tahoe fractional residence will enjoy lakefront access as well as an outdoor living area graced by a bubbling hot tub, plus all of the amenities and services that come with The Élan Collection.

A total of 12 fractional shares will be offered within the residence, with fractional shares beginning at $650,000--the most affordable yet in The Élan Collection. More details will be available soon (keep checking www.elanprc.com for updates). To be among the first to take advantage of this exclusive offering, please contact Stan Tonkin, vice president of international marketing and sales for The Élan Collection: stonkin@elanprc.com.

The Elan Collection Extends Special Offer to Ultimate Escapes Members

The Élan Collection recently made headlines in Fractional Life and Destination Club News. An ultra luxury private residence club, The Élan Collection is currently offering Ultimate Escapes members a special 15% discount for shared interest ownership in all Élan residences until November 30, 2010. Ultimate Escapes members who want to find out more about this opportunity are encouraged to contact Stan Tonkin, vice president of international marketing and sales for The Élan Collection. He can be reached at stonkin@elanprc.com.