Is this a good Hyatt Sunset Harbor price?

[Christinern]

I am purchasing a Hyatt Sunset Harbor resale for $19000.00. This is 2200 points & is Chritmas week. I believe the maintenance dues are around $1000.

What do you Hyatt experts think? Is this an OK deal?

I wanted a higher points week. Also, from what I've read, the location in key west seems desirable to me.

Thank you for your help---------Christine

 

[JeffW]

That sounds like a great price, but maybe too good - I'd have some doubts it would clear Hyatt's ROFR.

Jeff

 

[riverdees05]

Sounds good, be sure to do some checking to be sure what the seller is saying is correct. I have found that some sellers don't really know exactly what they have for sale.

 

[The Conch Man]

That's a great price for Xmas week ~~ Hope the unit price gets past Hyatt ~~ We sold our 1300 point unit for $16,000 a couple of years ago at Sunset after bein owners there since 1996 ~~ Good luck on your purchase ~~ :whoopie:

 

[mesamirage]

You have a solid deal at $19,000 for Sunset Harbor 2200 points... I personally think it will clear ROFR without any issue.... and the $16,000 for 1300 points just doesn't happen any longer... Sunset Harbor does have the highest value per point of the 3 Key West properties but 1300 points nowadays goes for around $9,000 now.. give or take $500-$1000.

I know a TUGGER who just paid $16,500 for 2200 at Pinon Pointe... I think the price difference of your purchase for $19,000 at Sunset Harbor is justified since that resort has a higher resale value.

Steve

PS. Sunset Harbor is slated for some major upgrades, that will only make the resort that much nicer!!

Here is a list of upgrades/changes that Ken listed out on the Yahoo Hyatt Group.

* Remodel the living rooms in all the units. The furniture will be
similar to that used in Aspen and includes: sofabed, chairs, tables,
Armoire, lamps, mirror, carpet, artwork and flatscreen TV. (See the
Design Board at my website:
http://www.bywindkal.com/Hyatt/HSHphotos/designboard.jpg

* Replace thermostat with digital system. Places HVAC in standby
mode when humans leave the unit or slider is open. With energy
savings the return on investment should be about 2 years.

* Replace Developer Rep Board member with a new Owner Rep. (The
composition of the BOD will be entirely owners)

* In newsletter, request owners to vote on installation of wireless
internet (Maintenance Fees will increase about $13/unit-week)

* Institute $250 penalty for smoking in any unit.

* Replace failed TVs with flat-screen models.

* Replace all locks with key-card system.

* Replace carpet in 13 1BR units.

 

[opusX]

We just paid $9000 plus closing cost, plus 07 maint. (840) for 1300 point week at Beach House. Week 42, Fantasy Fest week. I know Sunset Harbor is the primo Hyatt in KW( location location) but don't know if Christmas week is similar to FF week. To me it seems high but I am not a expert by any means. If you want to trade much I understand that the 1300 points are on the short side, if you want to use the week every year then its not much to worry about. We will be using our week most years for FF and the years it does't hit FF probably will trade for a May week to fish so the 1300 pts should not be a problem for us.

 

[JeffW]

The cost per point goes up as the number of points does (one reason being there aren't as many to sell). The good thing is since the annual fees are the same regardless of points (for a given resort), amortized over some decent number of years (15+), the effective cost per point for the higher point weeks often is less.

1300 point weeks can be especially inexpensive because the exchange opportunities with them are not as good.

Jeff

 

[Christinern]

Thank you for the HELP

I am now in escrow & thank all of you for your help & valuable info.

The owner is redepositing the 2200 pts. back into hyatt, because this year we can not go to sunset harbor over x-mas. If I get this in my name by 8-1-07 can I get another place to use for oct. or deposit it into II to use in october? We would like to vacation in oct. but I think it will be cutting it close because I have heard the closing process could take some time.

At what point do I have to use the points or lose them?

Thanks------Christine