*ads are disabled when logged in*
  1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. We completed the upgrade of the TUGBBS forums recently and are still working on issues/customizations/changes etc. Please post in the thread in the ABOUT TUGBBS section with your feedback. Note if you are unable to log in or access the forums please email us at tug@tug2.net!
    Dismiss Notice
  3. With the upgrade to the new forum, tapatalk is not functioning properly and we have had little to no support from them in fixing the problem. That said, the new forum is fully configured to support mobile devices so if you are missing being able to visit TUG on your phone try disabling tapatalk and just using your phone/tablet browser to see the new look!
    Dismiss Notice
  4. Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
    Dismiss Notice
  5. Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
    Dismiss Notice

What's Up with Resales at Summer Bay Las Vegas Desert Club?

Discussion in 'US - West Coast Timesharing' started by ry"c, Aug 16, 2011.

  1. ry"c

    ry"c TUG Member

    Joined:
    Jun 11, 2005
    Messages:
    77
    Likes Received:
    0
    Trophy Points:
    6
    Location:
    Oxnard, California
    What is up with resale prices at Summer Bay Las Vegas Desert Club? I noticed that on eBay several have been offered at "no closing costs," a potential savings of about $650 and the sales prices have been as low as $1.00 (one dollar) with most others below $200. Some have points and some don't; there is no premium for having points associated with the intervals
     
  2. DeniseM

    DeniseM Moderator

    Joined:
    Jun 6, 2005
    Messages:
    48,506
    Likes Received:
    13
    Trophy Points:
    38
    Las Vegas has more than 30 timeshares, and in this economy, the bottom has fallen out of the resale market. If you check ebay, you will find many, many timeshares for $1.
     
  3. ry"c

    ry"c TUG Member

    Joined:
    Jun 11, 2005
    Messages:
    77
    Likes Received:
    0
    Trophy Points:
    6
    Location:
    Oxnard, California
    Perhaps Other Factors?

    Seems curious to offer free closing costs, as if the seller has some sort of escrow and title processing skills.
    Caesars Entertainment owns a large bloc of our intervals, about 300. It is at Clark County today, 8-17-2011, trying to get project Linq approved by the County which includes "O'Linq's" casino (tearing down O'Sheas and combining it with some vestige of the remaining Imperial Palace structure) and pedestrian mall/Ferris wheel project. Perhaps Caesars is selling off some of its weeks to reduce its debtload (300 intervals times $530 per year in m/f equals $160k per year of ongoing debt).

    With the Orange Lake deal pending where our name may be changed to Holiday Inn Resorts, perhaps some former departing staff members of Summer Bay who personally owned some weeks are selling.

    Check the seller names if any of you buy. If the seller is "Durante Holdings Corp.," "DCH Financing, LLC," "DCH Exchange, LLC," or any of the people who sign on behalf of the seller is "Steve Bugman," "Pam Irey," "Jessica Gonzales," or "Richard Marr" then Caesars is the seller.

    There are good renderings and news about Project Linq at this url: http://www.vegastripping.com/news/news.php?news_id=4221
     
    Last edited: Aug 17, 2011
  4. DeniseM

    DeniseM Moderator

    Joined:
    Jun 6, 2005
    Messages:
    48,506
    Likes Received:
    13
    Trophy Points:
    38
    They can offer free closing, because their affiliated closing company does the closing in-house.

    This is probably being offered by a "take your timeshare off you hands for an upfront fee" company.

    In other words, someone already paid this company $3,000 to dump their timeshare, so they already made a profit, and now they are dumping it on ebay before the MF comes due.

    There are hundreds of auctions like this on ebay.
     

Share This Page