Are Residence Clubs OK in Soft Market?
"Residence clubs are a sensible way to own in any market, but especially now that developers have adjusted purchase prices to reflect today’s economy," says Steve Dering of DCP International. He was commenting on a report at the annual confab run by industry tracker Ragatz Associates that the shared ownership (read: timeshares, fractionals, residence clubs) market still has legs. "The value of residence club vacations exceeds annual ownership costs, so owners have real estate equity and save money relative to what they would spend on luxury vacations," added Dering. DCP, creator of the first equity residence club in Deer Valley, Utah, markets and develops shared ownership clubs throughout U.S. ski resorts and in other top vacation areas.