lady probably sat thru a Westgate presentation....

[am1]

I still am 100% the place will be torn down.

Anyone know if Wesgate is offering a fair market price?

Not sure how it got to this point with all the common areas gone with out getting all the condos first but that is where it seems to be.

How much taxes is the lady paying on the property a year?

Wanting to get Westgate to rebuild the condo is a joke. It has to be a tactic in getting a higher payoff. I lose sympathy for her because of that.

I can see the lady not caring about the money but the principle of it. But are the kids encouraging her in hopes of a better payoff after she passes?

If she were stalling a hospital, highway or an anti timeshare scam office would everyone on here feel the same for her?

 

[TUGBrian]

id normally tend to agree....however that should have been dealt with prior to westgate beginning construction.

the fact that they moved forward and began demolition WITHOUT settling means i have zero sympathy for them now regardless of who they are.

 

[rhonda]

Anyone know if Wesgate is offering a fair market price?

The numbers revealed in the various stories indicate that Westgate is offering ~$3k less than she paid 30 years ago. Zero appreciation over time. However, the other owners sold quickly at less than half of the offer to this family.

From what I've read ...

• Westgate offered her $150k.
• She paid $153k 30 years ago.
• The other condo owners sold to Westgate for just under $70k.

Personally, I would go for the full rebuild with access to all the resort amenities in leu of her former condo association's amenities. Yes, I'd accept vacationing as an island in the shadows of the new resort towers ... as a point. Perhaps it would make a great rental with an interesting backstory.

 

[dioxide45]

The numbers revealed in the various stories indicate that Westgate is offering ~$3k less than she paid 30 years ago. Zero appreciation over time. However, the other owners sold quickly at less than half of the offer to this family.

From what I've read ...

• Westgate offered her $150k.
• She paid $153k 30 years ago.
• The other condo owners sold to Westgate for just under $70k.

Personally, I would go for the full rebuild with access to all the resort amenities in leu of her former condo association's amenities. Yes, I'd accept vacationing as an island in the shadows of the new resort towers ... as a point. Perhaps it would make a great rental with an interesting backstory.

The problem is that the condos aren't worth what they were worth when she bought it. It sounds like Westgate was offering her double what the condo is currently worth. If other owners were willing to sell for $70,000, then that means the condo is really only worth $70,000. A condo is only worth as much as its comparable. All the other owners that bought at $150,000 and sold at $70,000 took a huge hit, but the properties weren't worth it after the market crash.

While I am not a fan of Westgate, the fact that the family is not even telling Westgate a price means they are trying for a big payout. The fact that they haven't even used it in years is another thing. It seems they are just going for the big payout. It seems more so from the articles that it is the family that is not the ones willing to cooperate.

 

[rhonda]

The problem is that the condos aren't worth what they were worth when she bought it. It sounds like Westgate was offering her double what the condo is currently worth. If other owners were willing to sell for $70,000, then that means the condo is really only worth $70,000. A condo is only worth as much as its comparable. All the other owners that bought at $150,000 and sold at $70,000 took a huge hit, but the properties weren't worth it after the market crash.

How much does prior pricing (of anything) really matter when you are holding the very last one?? ;-)

I think that they've widely circulated the original purchase price is telling. I would have assumed that Westgate should have taken the original purchase price x3 as a minimum entry point ... or more likely x5 if they wished to come across generous in their early dialog. That ship, it seems, has sailed.

 

[dioxide45]

How much does prior pricing (of anything) really matter when you are holding the very last one?? ;-)

I think that they've widely circulated the original purchase price is telling. I would have assumed that Westgate should have taken the original purchase price x3 as a minimum entry point ... or more likely x5 if they wished to come across generous in their early dialog. That ship, it seems, has sailed.

If that is what the current owners want, they should say that. It seems though that the current owners aren't really cooperating. Per the articles, they haven't indicated a price they would be wiling to sell for. Something tells me that they are looking for a lot more than 3-5 times the original asking price.

 

[x3 skier]

Something is worth what somebody is willing to pay for it or as might happen here, what a court says it's worth.

Cheers

 

[T_R_Oglodyte]

While companies don't, the governments do do it on behalf of the company and the bona fide public benefit is the additional tax dollars to the city. They don't take property soley for the use by the government. Lots of private enterprises are the delegates to land taken through eminent domain.

Agree totally. That is why I said "supposed to be for public use". I was responding to the poster who asked why Wastegate didn't use eminent domain.

In this case, this is apparently strictly a private deal, no government agency declaring eminent domain as part of a redevelopment program.

 

[pedro47]

Agree totally. That is why I said "supposed to be for public use". I was responding to the poster who asked why Wastegate didn't use eminent domain.

In this case, this is apparently strictly a private deal, no government agency declaring eminent domain as part of a redevelopment program.

Right, this is private land deal that involves a land owners and the Florida Timeshare King.

 

[amycurl]

Maybe this is one reason why the city is not doing its job in this case:

http://www3.forbes.com/lists/the-richest-person-in-americas-50-largest-cities/34/

I mean, I understood that Westgate was a powerful corp in Orlando, and that he was rich. I just didn't know that he was the richest person in the city.

 

[TUGBrian]

http://www.orlandosentinel.com/news...westgate-timeshare-towers-20160810-story.html

still going on...ladys lawyer filed a 129 page appeal? :lol:

hope he submitted it in a hidden pocket inside a binder! The video has some interesting commentary!

 

[TUGBrian]

and more updates...this isnt likely to earn her many sympathy votes....

http://www.orlandosentinel.com/news...g-westgate-resort-project-20161003-story.html

 

[Ty1on]

and more updates...this isnt likely to earn her many sympathy votes....

http://www.orlandosentinel.com/news...g-westgate-resort-project-20161003-story.html

She has the price she wants, they have an amount they are willing to pay. Until those to points meet, she owns the property. I don't begrudge her at all, and it couldn't happen to a more greedy business.

 

[TUGBrian]

oh I dont disagree with her stance, but even those who support that stance would simply laugh at a demand of 2m dollars.

 

[T-Dot-Traveller]

Supply,and demand

I would think her price is based on her having the only " supply "

*****
Some developers think saving money makes them smart .
This may not be the case for Westgate - at least not with regard to this project .

.

 

[TUGBrian]

appears this is still ongoing....

truly a shame that the county voted 6-1 in favor of westgate despite all the things they did wrong from the very start.

http://www.orlandosentinel.com/opinion/os-westgate-condo-widow-scott-maxwell-20170210-story.html

 

[Talent312]

Next, we'll read that the County used eminent domain to seize the property for "redevelopment" of a blighted area.

.

 

[dioxide45]

So they bought it for $150,000 and Westgate only wants to offer current market value that is half that. Wouldn't it be easier to just pay them double what they paid and call it a day? Seems that Westgate is wanting to bully the family to save a few bucks on a property that they will make millions off of. I hope the family now soaks them for millions. I know it is Westgate, but this is low beyond low.

 

[TUGBrian]

I thought that myself....certainly seems like an awfully low offer.

Although I could have sworn the amount was much higher in a previous article (that could have been the demand of the family though)

 

[jl2010]

Wow, this reminds me of that movie Batteries Not Included. They need some alien robots to fly in and help her, and beat up the bad guys.

 

[theo]

So they bought it for $150,000 and Westgate only wants to offer current market value that is half that. Wouldn't it be easier to just pay them double what they paid and call it a day? Seems that Westgate is wanting to bully the family to save a few bucks on a property that they will make millions off of. I hope the family now soaks them for millions. I know it is Westgate, but this is low beyond low.

Agreed, but Westgate seems to repeatedly demonstrate itself to be lower than whale excrement on the ocean floor, so there certainly are no real surprises here in regard to their behavior. Westgate also has an established track record of fighting in court and appealing court decisions not to their liking. Accordingly, WG (IMnsHO) is unlikely to willingly relent in this matter, which will likely have to ultimately be resolved in the courts.

I frankly don't think that this woman is likely to ever see the $2 million that she's looking for, but I hope that she gets it --- and more.
For David SeaGull, that's merely the cost of some gilded toilets and some ostentatious fixtures and garish furnishings at "The Palace".

 

[Ty1on]

I hope that they are forced to make her unit whole, then are forced to build around it. Let it remain there forever as an eyesore reminder of coprorate greed and stubbornness, just like the apartment complex in the middle of the Mirage resort complex in Las Vegas.

 

[TUGBrian]

seems like a great marketing opportunity for a rival timeshare developer!

buy the condo from the lady, then turn it into a sales center (not for westgate) =)

 

[Ty1on]

seems like a great marketing opportunity for a rival timeshare developer!

buy the condo from the lady, then turn it into a sales center (not for westgate) =)

That would TOTALLY be worth $2M

 

[TUGBrian]

and id bet at this point, the family would settle for far less to a rival company especially if they knew it would be an even bigger thorn in westgates side!