Professionals and practitioners of resort development….what’s selling?
I’ve been through the gas lines of 1973-4, the Carter recession with 21% interest on my San Francisco Suites loan [youth never sees a down side] the Clinton generated ‘we’re in the biggest recession since the 30s' minor dip of early 90s, the dot-bomb and now today. One thing for sure - the media has it down pat – doom and gloom.
Hiking in England last week, looking at BBC news for a 9-day period I never heard one positive economic statement. It was a lot of, “Current inflation is 3.2% but it could go to 12%! That kind of junk.
Back to the first statement. Are we selling? Yes, but slowly. This rundown will not be news to any readers. At Laguna Beach we are very close to the major market [SoCal] but getting them to put up a buck is tough. At Meriwether [see more below] if we can get ‘em there we can sell them, but being a national market getting them off the dime and getting them there has been very difficult.
In Vallarta, off-season, those who come to see us; we have a good closing percentage. Maybe that’s key indicator…if you’re in a resort counter-season you’re a good prospect.
At Cape Cod they are just coming into high, high time and have high hopes with Boston so close. First sale is down! More next month on their sales. In Aruba we plan to target the high-end buyer, who has already made a decision for the Island as Aruba has the highest repeat visitor percentage in the Caribbean.
Meriwether? Okay, if you know the outdoors you know Chris Dorsey of Orion Multimedia. He stars in 30 Beretta Outdoors episodes yearly and he produces another 150 half-hour segments of hunting and fishing adventure TV shows. Special episodes for the Ultimate Lodge will include: the Ultimate Gun Library & Trophy Room," a "Liar's Bar (aka: Fisherman's Watering Hole," "Master Mud Room & Labrador Lounge," "Eat-Like-a-Wild-Man Kitchen;" and many other custom house elements designed for the series.
Each segment will include features staring Jeff Foxworthy, America's favorite and funniest outdoorsman and will showcase amazing design elements from several outdoor lodges from around the nation. The network's 65 million viewers across America will be treated to DIY's newest phenomenon, "The Ultimate Sportsman's Lodge" series!
Great PR, huh?
We are really having to scrabble for buyer-fractional end loans….in the past with 90% of the buyers paying cash we paid only nominal attention to the sourcing of these loans. Now it seem almost all buyers inquire about financing and many are serious about it. The market has shrunken a lot, so it's tough sledding.
More next month…
