"It's about location, location, location." by Rich Keith
LifestyleOne LLC, our portfolio offering consisting of six luxury residences in six unique world class destinations, is the perfect second home solution for those with a sense of wanderlust, enjoying travel to a variety of destinations all while being invested in a real estate portfolio that is diversified. But it is undeniable to us, from literally hundreds and hundreds of discussions with people that considered LifestyleOne, that there is a voracious appetite for a shared luxury real estate ownership model that involves a single, remarkable residence located in their absolute favorite location. As you would expect, the variety of favorite destinations vary widely but included those coveted locations that often are cited as the top vacation destinations year after year: Hawaii, Cabo, Carmel, Lake Tahoe, Gulf Coast of Florida, Vail/Beaver Creek, Colorado, Napa/Sonoma, CA, NYC, Sea Island, GA, just to name a few.
With this benefit of meaningful insight from keenly interested vacation home buyers, we responded to this "favorite destination" appetite and created our debut product for a Single Destination LLC located in the charming and beautiful beach community of WaterColor, Florida.
In the latest Ragatz and Associates Annual Report, which analyzes data on the Fractional and Private Residence Club sectors, there are a number of data points offered and most of it does not need any real interpretation. However, there is one very significant point made in the report that begs for some discussion, as the statistics are startling. In particular:
In recent years, there have been many “game changers”in the world, defined by people or companies who are reinventing and revolutionizing long established beliefs and practices in certain industries. As an example,the introduction of automobile leasing changed how automobiles were acquired. Prior to the 1980’s, 100% of all automobile transactions were purchases. 100%! Today, nearly 40% of new automobile transactions are leased. A simple, yet great example of a "game changer”.
At some point, nearly everyone fantasizes a bit about the allure of owning a beach home. And why not? Time at the beach with family and friends ranks on the top 3 wish list for most people as the sights, sounds and smells of the ocean are undeniably hypnotic. But behind the romance of all this lies a stark reality that stuns most when they discover this one fact: the cost of insurance in hurricane zones.
Los Cabos is back -- like a shining jewel -- and the future looks brighter than ever. That's the word among savvy real estate specialists and resort developers, according to the recent Wall Street Journal Article: "Luxury Real Estate in Los Cabos Is Coming Back".
The vacation home market has rebounded in a big way, according to recent statistics released by the National Association of Realtors. It accounted for just over one fifth of all home purchases last year, up a whopping 53% over 2013. The good news isn't quite as rosy for other segments of the real estate market, but those in a position to buy vacation property exhibit a newfound confidence that points toward future growth and increased stability in the second home market. One of the reasons, notes an analyst, is that many second home purchasers today plan to make that vacation property a primary residence upon retirement.