Dear Mayacama Residence Club Members,

As you know, the resale list for the Residential Memberships has grown over the past six to seven years, starting with the wildfires in 2017. We have adjusted pricing and have continued to focus our marketing efforts in this specific category with some success towards the end of last year and early this year. That being said, we still need to see significant movement on the resale list as its length is also a hinderance to sales and prolonged exits.   

Your Residence Club Membership provides you with the right to name your price and sell under those terms if the Club is unable to resell the interest within two years or sooner if the club agrees. Many of you have inquired about reducing your price, and several have provided a number that ranges from $150,000 to $225,000 on average. The Club has only 2 remaining interests, so all future sales will be coming from the resale list. While initially we expect to see prices go down for those more willing to exit at a steeper discount, we are hopeful that in the long run we will see prices appreciate as I still firmly believe the Residence Club is the best value across the various membership categories.  

For those near the top of the list who have waited the longest, I realize this is not an ideal situation, however for any matching resale prices we will go based on the priority on the resignation list. There is certainly no obligation to make any adjustments to your membership price at this time. If you are interested in reducing your price with the goal of an earlier exit, please reach out to me or anyone on the sales team to discuss the process and determine which price you would feel most comfortable for the resale of your interest.  

The last 5 Residence Club sales that we have made averaged $250,000 for the 1/10th with an additional $75,000 membership fee if they were non-members. There are several different types of membership fees associated with the Residence Club interests that are up for resale and we can discuss that allocation if and when an owner decided to make a price reduction. 

We thank everyone for their patience and assistance as we work to reduce the size of this list over the next two years. 

Please reach out to me, Tim or Brian if you are interested in learning more about this process and to discuss any changes to your membership.

Sincerely,

Jonathan Wilhelm

Managing Partner