As the Real Estate Market Cools Down a Destination Club is Turning Up the Heat

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With real estate gains coming to an abrupt halt in the first quarter of 2006 and the median price of a U.S. home falling 3.3 percent from the fourth quarter of 2005, My Global Playground offers a luxurious alternative to second-home ownership.

According to the latest housing price forecasts from Fiserv Lending Solutions, some of the largest, and most expensive metro areas in the United States will experience significant stagnation in 2006. The cost of home owner's insurance, property taxes and the costs and hassles associated with maintenance are beginning to have a major impact on the real estate market.

Destination Clubs like My Global Playground (MGP) (http://www.myglobalplayground.com) offer an alternative to second-home ownership. For less than a down payment on a multi-million dollar home, a Destination Club Membership unlocks the doors to many homes with a bevy of amenities at no extra cost.

MGP is a new club that has taken the Destination Club industry to a new level. With the average home purchased between 4-6 million dollars, MGP captures the attention of the country’s most affluent travelers.

While other clubs charge daily fees and keep a portion of the member's initial deposits, MGP is one of the first to offer a 100 percent refund when a member opts out of the Club. MGP offers unlimited access to all homes and features luxurious amenities at no extra charge including: limousine and car service and a first of its kind – in-home concierge service.

Joyce Kohn, CEO of My Global Playground, says, “The cost of owning vs. a membership that offers unlimited access to the most beautiful destinations just makes more sense. On top of that why not have it all; luxury homes in world-renowned destinations and a staff on-hand to take care of all the details.”

MGP members are pampered in every way, from limousine pick-up upon arrival to a pantry already stocked; members will have spa appointments set and golf tickets on the counter. No detail is overlooked. MGP even unpacks luggage for members.

MGP homes range in size from 5,000 - 10,000 sq ft with 4+ bedrooms and baths and floor plans that encourage social gatherings amongst family and friends. Another signature MGP specialty is catering to kids with gender specific bedrooms, all the latest movies, games and DVDs as well as water toys, boogie boards and snow sleds.

The summer is in mid-stream and membership demand is high, MGP is closing their Charter Membership phase within the next 30 days.

My Global Playground: (http://www.myglobalplayground.com)

A Destination Club is aimed at affluent families who travel multiple times in a year, to multiple destinations. Since it offers luxury homes in a variety of places, it is different than buying a second home in a single location. A Destination Club is neither a timeshare nor a fractional. For the most part, members do not actually own anything. However, memberships are 100% refundable and in most cases will appreciate in value and be passed to the retiring member.

By pooling the fairly high membership fees, the club can buy a piece of luxury real estate, furnish it and then offer it to members. In some cases, the newer clubs are also offering some equity in case the property values increase.

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Joyce Kohn
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