As vacation home owners began demanding more service, convenience and worry-free ownership, the need for a new upscale resort real estate alternative emerged. Member-owned residence clubs fill this need by providing services, amenities, prestige and value not offered by any other form of vacation real estate.

The median age of all Americans is now 39 years. Because the population "bubble" of baby boomers is now entering into the peak earning years and is seeking the fruits of its labor, a dramatic increase in demand for resort real estate and urban second homes is projected for the coming decade. In addition, massive changes in the amenities and services that come with a real estate purchase will be of paramount importance to a graying America.

There will always be a market for well-conceived and well-executed condominium and single-family home developments at premier vacation destinations and highly visited cities. However, the decision to invest in traditional vacation real estate has been influenced by tax reform, time constraints, cost of travel, property maintenance, an unwillingness of potential buyers to place expensive residences in rental pools, and a lack of services and amenities associated with property ownership. The result is that resort real estate has become more of a lifestyle purchase and less of a financial investment.

In the coming decade, a large group of baby boomers that are emotionally and financially qualified to invest in a vacation home will be entering the second home market. However, their investment preferences will differ from the buyers of previous decades. Ease of use, family conveniences, services, predictability, and cost/benefit comparisons have assumed greater importance. Of course, location will always be a prime consideration.