Below is a photograph taken just prior to the start of the presentation that was made to a standing room only audience.

Last year, Wisdom completed an extensive electronic survey and conjoint analysis through Promatura. ProMatura is a full-service market research and advisory firm specializing in 50+ consumers and their housing, services, consumer products, customer service, marketing, and sales.  The Promatura results were very positive confirming our membership pricing, confirming significant market depth, and pointing at material consumer demand for the product.  Our findings in our recent survey efforts have continued to confirm those Promatura findings, and have offered us some more specific insights.

Specifically, we have tested the relative interest in the core curriculum subjects identified as a part of the Wisdom educational elements, as well as validated that the target audience is clearly focused on their Health and Wellness, and also on the search for a retirement relocation destination with access to preferred health care.

In addition, we have explored their travel preferences and expected frequency and duration. Some 66% of the respondents have expressed that it is important to them to experience and evaluate their prospective retirement relocation destination in a residential setting such as a single family home versus a hotel. In addition, 97% indicated that they would want to visit a particular area at least 3 times before making a decision to purchase, and more than half of those indicated that they would make 5 or more such trips.  Wisdom, based on its 5 year program window, its creation of a travel network of homes located in prime retirement destinations and their ability to travel extensively throughout the year meets these consumer desires head on.

We are extremely excited to continue to refine this ongoing research with additional questions that will be addressed to the audiences of the remaining LiveSouth shows over the coming 5 weekends. Note that the seminar is not specifically about Wisdom, but Wisdom is the named program sponsor giving us the opportunity to speak briefly by way of introduction about our program. The Seminar is entitled “Got Retirement” and is a presentation of 6 fundamental “Truths” about retirement that includes some unexpected facts selected to highlight the importance of proper planning and the value of a trusted advisor and information source such as Wisdom.

For more information, please contact Malcolm McMullen, Director of Wisdom via Email at MalcolmMcMullen@WisdomRetirement.com or by phone at 407-304-6090.

Please also visit WisdomRetirement.com

Below is a reprint of the original article.

DESTIN — Peter Bos, CEO of Legendary Inc., was recently named Hotelier of the Year by the Florida Restaurant & Lodging Association.

It was the first time someone based exclusively in Northwest Florida received the recognition, said Carol Dover, the association’s CEO.

“I viewed it as not only what an unbelievable recognition,” Bos said of the award. “The competition to be Hotelier of the Year in a state with more hotels than any other state, with that competition to be singled out … by that peer group was extra special. It was the nicest award that I have every received. It’s the highest reward I can get in my career field.

“It’s not me,” he added. “This is all about the people who worked for me because they have done it. I may have had the idea, but they all made it happen.”

Dover said Bos and Legendary stepped up as leaders in the state hotel industry following the Deepwater Horizon oil spill in April.

“Peter and Bruce (Crual, Legendary’s chief operating officer) and his hotel, particularly with the oil spill, were front and center, always offering their site for meetings and getting (Gulf Coast Claims Facility Administrator Ken) Feinberg in,” Dover said. “There was a lot of dedication on behalf of Peter and his team for everything from the oil spill to legislative issues, anything that impacts the industry they have always been there.

“They have made a huge impact in our association,” she added.

Past winners of the Hotelier of the Year award include Harris Rosen, president and COO of Rosen Hotels & Resorts in Orlando and Frank Flautt, who owns several hotels, including the Hilton Sandestin and Mariott in Panama City.

Bos said his recognition shows that Northwest Florida is a competitive region with Central and South Florida.

“We can hold our head high and we can compete in any market. We’re as good as anywhere, anytime,” Bos said.

Fractional Interest Conference 2010

Conference overview, by Ed McMullen Jr.

The 2010 Ragatz Associates fractional conference was well worth the time and money to Learn, Share, and Connect in the challenging market we all find ourselves. As outlined in the 2009 Research report by Ragatz associates the performance statistics for the fractional business worldwide were generally down across the board however the bright spot is that the fractional product concept overall is not down as much as whole vacation home values in the same markets, and the markets where supply, or future density is still limited will hold prospects for a brighter future as the economy recovers and consumers regain confidence. 2010 and most likely 2011 will remain challenging for most everyone but the top quality locations and operators will see modest gains as real estate fundamentals turn up.

Brands: The visible exodus of hospitality brands (Except Fairmont) from the market place has left a void which is noticeable for new project development, marketing and sales however my impression is that this is only temporary until the Hospitality Brands gain greater control of their shared ownership businesses, access to capital improves and the hotel business overall regains stability and then they will return and regain market share quickly. What this would indicate to is that there is a window of opportunity to well positioned single sites and independent networks to sharpen their skills and strengthen their own brand promises for customer loyalty now. The role of an Exchange Company seems to be increasing in value as current owners push for more value, flexibility experience options beyond the real estate interest that may have been their initial motivation for purchase. Even stated there is much concern over the quality control and client differentiations from traditional timeshare exchange and PRC/Fractional accommodations, service levels and limited availability across quality fractional locations.

New Products: In addition to the traditional real estate product vacation homes, or condominiums we should expect to see other high priced products enter the fractional model such as yachts, more planes, and RV’s as Boomers and other demographics look for ways to get more out of life for travel, family, health, and wellbeing than just fee based real estate.

While there is still a very positive interest in fractional vacation home option but one of the Achilles heals of the sales (Old and New) is the ongoing service, and ownership costs for a fractional/PRC. This will push developers and HOA’s to invite rentals and more ala cart menus of services and amenities so that owners can have greater control and find ways to subsidize ownership costs. The ongoing costs are a big barrier of new sales and there seems to be a large gap of these costs between Brands and Non-Brands. Non-brands have an advantage with lower costs of delivery, a competitive advantage over Brands.

Marketing and Sales: The marketing and sales of the fractional product today presents challenge and opportunity. Most all companies find themselves short on cash to spend on marketing which is a challenge for sales but the silver lining is that this is requiring sales organizations to be more efficient and creative. The customer wants to be engaged, they want an experience, they are seeking value, quality time with loved ones and our sales teams need time to build relationships, value, and confidence in buyers. The combination of a more engaged marketing and selling process (Step by step) shows signs of success in those companies who have product which can be used in a form of buyer’s trips, or discovery events. The sales cycle from casual interest to active buyer is longer and the customer is more patient/cautious than before placing more emphasis on value and necessity of a deliberate and professional sales process, communications, and CRM tools to be successful. The traditional mix of marketing programs from PR, Media, direct Mail, Internet, Intercept, and Co-brokers programs have all required review and renewal for effectiveness in this new economy. Intercept marketing use to be a major source of short term sales but with today’s more discriminating buyer the channel acts more like a lead generated from the internet , placing  great importance to that first impression and established  client connection which over time can build a relationship, trust, confidence and engage sales. In our own sales cycle we have seen our timeline from introduction to contract lengthen to 8 to 12 months and one or more site visits.

Pricing: A lot of concern and discussion over pricing and examples of when not properly executed means disaster. How should a new property consider initial offerings? How should an existing property right size price for current market and sales momentum? How should developer pricing and resale listings cohabitate for best results? What role is there for incentives, financing, or other concessions? How should Bank defaults, short sales, and foreclosures be addressed? This topic brought forward a lively debate and each question has different recommendations based on the specific property, market place or business condition however there were two important lessons learned here. One that if a developer drops price significantly for one reason or another the damage to values is only half the battle and may not be the biggest negative given the loss of owner confidence and their individual ownership values and the developer’s loss of referral business and reloads which have been paramount to most sales teams in this economy.  A Second lesson is that the resale practice of the developer either in conjunction with developer sales or as an owner service is that it requires a commitment to, Owner education for proper expectations for resale (Timing, costs, and pricing),  communications to owners for use options so that resale becomes less interesting unless strictly economic (Exchange, Rental, Adventure travel), and dedicated sales channel as selling a fractional is a specialty and when left to the general real estate market place realtors have not performed the service necessary for satisfaction. Either the developer or the HOA should both consider resale’s to maximize operations, stabilize HOA’s, support property value and strengthen owner/product satisfaction.

Financing: What financing, there isn’t any! Well I could just stop here and the truth would be spoken however financing in traditional means may be nonexistent but as the capital markets recover and fractional sales begin to show strength we should see lenders return to the fractional space.

The summer season is almost here and I wish everyone a safe, healthy and prosperous 2^nd and 3^rd quarters.

For more information please visit McMullen Development.com or EmeraldGrande.com

DESTIN — During the past year, while area realtors rethought their marketing and sales strategies during a difficult real estate market, the staff of the Emerald Grande at HarborWalk Village has had an above average sales year.

“People do need to hear that the sky isn’t falling and that there is something that’s selling,” said Gail Sawyer, the real estate marketing coordinator for Legendary Inc., which developed The Emerald Grande on the southwestern corner of Destin. “It’s not perfect, but it’s great.”

Sales of condominium units in Emerald Grande have been anything but flat, with the units maintaining their value during a market when sellers face difficulty getting a return on their real estate investment.

A big part of the Emerald Grande’s real estate success, said Executive Vice President for Legendary Realty Ed McMullen, is the overall product provided by Legendary Inc.

“Emerald Grande, and this is just one man’s point of view, since 2007 Emerald Grande has probably been the guiding light for real estate in the area because if it didn’t do well, everyone else would have suffered,” McMullen said. “If you look at Emerald Grande as a whole, a community embraces it as a way to celebrate its access to the harbor.”

HarborWalk Village, located at the mouth of the Destin Harbor and just yards from the Emerald Grande’s eastern tower, offers shopping and dining for the community as a whole. Its views of the harbor and the Gulf of Mexico create a backdrop for visitors and residents who enjoy what Destin offers.

Between Destin and South Walton, Emerald Grande has been among the top selling condo choices for buyers in 2009, with total sales of 20 units as of early in December. McMullen set himself a goal to close out the year with even more sales. The sales of those units generated occupancy, which brought tourist dollars to the community. In October, generally a quiet tourist time along the Gulf Coast, Emerald Grande’s occupancy ran about 70 percent, with many of the visitors coming to the area for weddings.

Despite the attraction of Emerald Grande’s amenities such as HarborWalk, the restaurants and the condo’s health club and spa, it is also the individual value of each condo unit that appeals to investors.

“Emerald Grande has a higher average price than any individual property anywhere on the Emerald Coast,” McMullen said.

The developer has units still for sale, but re-sale units are also available.

“We have a very viable secondary market here. We’re selling re-sales all the time,” McMullen said.

Emerald Grande features two 13-story towers with 286 units. Layouts include one-bedroom/one-bath plans up to four-bedroom/four-bath plans.  Floor plans feature open space rather than a shotgun layout.

Square footage begins at 836 and can go up to 1,700. Prices on units vary depending upon the size, location and whether the units are offered by the developer or as short sales. They start around $430,000 and go up to the mid $2 million mark. The prices apply to whole listings, but Emerald Grande also offers fractional ownerships.

While planning its marketing strategy, Legendary conducted focus group research, which showed that buyers wanted resort like comfort and amenities for a portion of the starting price range that comes with individual unit ownership. The combination of Legendary’s own research with national averages spurred the sale of fractional ownership in Emerald Grande.

“You can see the average use of a second home is 22 to 24 days out of a year,” McMullen said. Furthermore, he continued, the week-long stay in second homes has become a thing of the past, with long weekends or three- to four-day stays becoming the norm.

With an Emerald Grande fractional, each owner receives two weeks of condo use each summer and four other weeks throughout the year. An internal exchange also exists, so owners can trade weeks with other fractional owners.

“The owners think it’s fabulous,” McMullen said, also saying that “the fractional product has been extremely well received.”

Fractionals allow owners a deeded purchase with ownership privileges, but with a focus on the actual time that they owners can viably use the second home property. In addition to the purchase savings available to buyers, McMullen said that fractionals, right now, have a strong secondary market. Emerald Grande fractionals, in 2009, have been sold starting around $65,000 and going up to $240,000. For information about Emerald Grande real estate whole and fractional sales, contact Legendary Realty Inc. at 337-8800. To reach real estate marketing coordinator Gail Sawyer by e-mail, write to gsawyer@legendaryinc.com. To reach Legendary Realty Executive Vice President Ed McMullen by e-mail, write to emcmullenjr@legendaryinc.com.

To find Emerald Grande on the Internet, visit www.emeraldgrande.com

Click here to read a PDF version of the article

Today, E.H. McMullen & Associates becomes McMullen Development.

We are excited about the new opportunities that we are pursuing and looking forward to sharing those with you soon.  For now, please take a tour through our website and let us know what you think.  If you are looking for the full story on what we do and how we do it, please start here.  Don’t forget to click the green arrow to move through the site!  You might also want to check out our Emerald Grande Case Study, which discusses in detail our involvement with this Legendary project in Destin, Florida.  If you are looking for the full history of our company, please visit our  McMullen History section.  Finally, if you are looking for our bios, please click here.

Thanks for visiting and check back with our home page every so often to see what new projects we are working on.

The Interior Design for Emerald Grande at HarborWalk Village by HHCP Architects and Raleigh Design Receives ARDA Award

Emerald Grande Lobby

MAITLAND, FL (April 24, 2008) – The interior design for Emerald Grande at HarborWalk Village by Maitland-based Helman Hurley Charvat Peacock/Architects in collaboration with Winter Park’s Raleigh Design has received a 2008 ARDA Gold Award from the American Resort Development Association. Developed by Legendary, Inc., of Destin, Florida, Emerald Grande’s 281 resort residences include both fractional and whole ownership units – a new concept for the Destin area.

The ARDA Awards Program recognizes professional excellence in the resort industry. A jury of industry peers reviewed over a thousand entries in thirteen main categories that included management, advertising, marketing, and design. The Legendary-HHCPRaleigh Design team won top honors – the Gold Award for interior design of the common areas of the Emerald Grande Hotel & Resort.

Nestled along 14.7 acres on the Destin Harbor, Emerald Grande offers a luxurious vacation-home experience with hotel-style services and amenities, all in a beautiful, relaxing setting. Opened in the summer of 2007, the resort’s design reflects Legendary President Peter Bos’ vision to create a landmark structure that would celebrate Destin’s natural beauty and rich heritage as a fishing village. Interiors, which reflect a turn-of the century southern yacht club, are eclectic, warm and inviting, with furniture full of character. According to John M. Purdy, AIA, Vice President and Senior Designer for HHCP, the resort’s grand lobby exemplifies this vision and offers a compelling public space with solid hardwood floors, custom world globe chandeliers, oil paintings depicting the flora and fauna of the area, and a 15-foot compass rose floor inlay of exotic woods, granite, and polished brass. Emerald Grande anchors the evolving HarborWalk Village, which is destined to become the northern Gulf Coast’s most exciting retail and resort complex.

Emerald Grande Master Bedroom

About HHCP
An innovator in architecture and a major player in Central Florida’s growth and development for more than three decades, HHCP has evolved into an international design leader with diverse projects in 30 nations worldwide. Founded in 1975 by four partners, HHCP today has more than 95 talented, diverse team members located in Orlando, Florida, San Juan, Puerto Rico, and Beijing, China. The architectural design firm offers clients a unique breadth and depth of expertise through wide-ranging practiceareas, including planning/mixed use, themed entertainment and hospitality, health facilities, residential community and retirement resort. For more information, visit www.HHCP.com.

About Raleigh Design
Raleigh Design is a commercial interior design firm based in Winter Park, Florida. Founded in 1973, the firm designs well-detailed, hand crafted and romantic interiors for restaurants, clubs, hotels and resorts throughout the US and the Caribbean. The technical and creative staff at Raleigh Design creates theme-specific environments for companies that strive for unique brand identity and broad market appeal. For many years Raleigh Design has been providing consulting services to the Central Florida leisure, entertainment and hospitality markets. Their client list contains such industry leaders as Disney, Universal, Hard Rock, Warner Bros., Marriott Hotels and Darden Restaurants. Raleigh Design has completed over 550 projects totaling over six million square feet. They have taken the skills learned from many years of working with the theme parks, movie studios, and attractions, apply this knowledge to the design of interiors to create a memorable guest experience. Visit www.RALEIGHDESIGN.com

Grande Vista Bar at Emerald Grande

About Legendary
Legendary, Inc. is headquartered in Destin, Florida and holds a diversified portfolio including a Resorts Division, a Realty Division and a Marina Division. With enterprises such as Emerald Grande, Legendary Marine, HarborWalk Village, Regatta Bay Golf and Country Club and Destin Commons, the company’s diversity and expertise has produced numerous successful Destin area projects. The company stands strong behind its mission to provide “legendary experiences which exceed the expectations of visitors and residents along the North Gulf Coast.” Visit www.legendaryinc.com or www.emeraldgrande.com