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The tradition of the "family compound" as a traditional vacation spot used to be available only to families with names like Kennedy and Forbes but today's concept is centered on planned vacation communities. The communities tend to include a main residence, a guest house and recreation areas. The concept is being marketed as places to establish new family traditions.
The developers of this concept believe that they can successfully sell this concept in spite of the recent downward trend of 37% in vacation home sales. Developers sell the idea of family togetherness, targeting the empty-nester market that may be in the market for a property that could be handed-down to the following generation of family members.
These family-oriented properties are expensive. Compound lots have sold for $2.8 - $4.75 million alone. Prices for completed compounds including the land range between $6 and $12 million.
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