A visit to Bill and Hillary’s starter home in Fayetteville, Ark., prompted Bethany Erickson to take a look at what the real estate market in the area looks like — and it’s a boon for second home hunters.
Love mountains, but also love shopping? Love Austin, but hate the traffic?
Haaaaaaaave you met Fayetteville, Ark.?
Now, I must confess a great deal of bias — Fayetteville is my old stomping grounds, and whenever we get a chance, we head there for R&R. In fact, we were there over Christmas vacation, and had the chance to tour a very well-known starter home — Bill and Hillary Clinton’s first home — where they lived while both taught at University of Arkansas’ law school.
When you buy a vacation home, you want it to be an escape, right? Maintenance and upkeep can be a wet blanket on second home ownership, though. So why not aim for something with excellent management that’s more like staying at a five-star hotel than a vacation home?
Well, those who buy into the Queen Anne Mansion in Eureka Springs, Ark., will get the red carpet treatment. The Queen Anne Mansion has all of the great things vacation homes have to offer without all of the stress.
We’ve talked about this unique historic property before. It’s an amazing house that was lovingly restored in a unique and beautiful area. And now you can have a vacation home nestled in the Ozarks without the worry.
What do you get with a Private Residence Club fractional property? There are seven suites inside the Queen Anne Mansion, and all of them offer all of the graciousness you’d expect from a property built in 1891 with the modern amenities available in high-end hotels — spa services, concierge, maid services, and turndown.
The Queen Anne Mansion has a corner on the fractional market in Eureka Springs, too.
“It is my experience that the first fractional in a market generally does very well because of the benefits to buyers and the lack of competition,” said David Disick with The Fractional Consultant. “We anticipate the Mansion sales to have strong momentum.”
But how will the Mansion’s club work? Here are the details:
In the Mansion’s model, the first 12 Patron Owners of The Queen Anne Mansion Preservation Trust will benefit from privileged launch pricing of $150,000 per interest. A threshold to closing of 24 deposits has been established, at which point each of the owners will begin to have access to the property.
Ownership will afford each purchaser the right to reserve a minimum of 28 nights of annual usage in seven-night blocks. Owners may reserve a single suite, multiple suites or the entire estate, with each suite counting as one night of usage. Additional nights beyond the 28 reserved nights may be enjoyed on a space-available basis to owners and their accompanied guests via the Club reservation system.
With the name “Private Residence Club” attached to the Queen Anne Mansion’s moniker, do you think this great fractional property will become more attractive to buyers?
Fall in the Ozarks is spectacular, and if you’ve ever taken a trip to Arkansas before, you know that the views of the changing leaves can be breathtaking. So why not own a fractional vacation property in one of the fastest growing tourist destinations in Arkansas — Eureka Springs.
We consulted with David Disick, the expert behind The Fractional Consultant, about Eureka Springs, Ark. He tells us that the market there is small, but the getting is good.
Second Shelters: When are the high and low seasons of Eureka Springs? Likewise, what are the major attractions for potential vacation home owners?
Disick: High season is June through November and low season is January through February. Major attractions for potential home owners include the historic downtown area, specifically Spring and Main Streets, Eureka Springs Historical Museum and Eureka Springs & North Arkansas Railway. Additionally, Eureka is known for festivals such as the May Fine Arts Festival and its colorful Artrageous Parade to Shakespeare in the Ozarks, Opera in the Ozarks, Diversity Weekends, Books in Bloom, auto shows, and an annual UFO conference. Warm-weather weekends can be spent listening to blues, jazz, folk and classical music performances, while monthly Gallery Strolls showcase the talents of the town’s many resident artists.
The Queen Anne Mansion is the only fractional property available in Eureka Springs, Ark.
SS: As far as fractional ownership in Eureka Springs, what developments are hot? Which ones are a great deal?
Disick: The Queen Anne Mansion is the only Private Residence Club in Eureka that is currently offering ownership positions.
SS: How does the Queen Anne Mansion compare to the national fractional ownership picture?
Disick: Compared to the national picture, the Mansion is a unique offering — an exclusive opportunity that you can buy positions in. It is my experience that the first fractional in a market generally does very well because of the benefits to buyers and the lack of competition. We anticipate the Mansion sales to have strong momentum.
SS: Anything interesting you’d like to add?
The 2011 opening of the $1 billion Crystal Bridges Museum of American Art in nearby Bentonville is a world-class attraction that is bringing global attention to Northwest Arkansas.
