Advice on purchasing SPG Vacation Ownership

vacationtime1 · Nov 11, 2012

dlca1 said:
I'm moving forward with a 2 bedroom plat for 14.5 and 475 closing from a reputable broker and closing company. Seem like a reasonable deal? Not totally hot, but not bad?

I think that is an excellent price for a broker assisted transaction.

Kierland has good economics as a rental, as a StarOption trader, or to use (I have done all three with mine).

Ken555 · Nov 11, 2012

dlca1 said:
I missed out on the 13300 auction. I was the second highest bidder.

Does it still make more sense to get 2x1 bedroom plat vs 1x 2 bedroom plat when considering maintenance fees and 2x closing costs?

I'm moving forward with a 2 bedroom plat for 14.5 and 475 closing from a reputable broker and closing company. Seem like a reasonable deal? Not totally hot, but not bad?

I think that is a hot price, but then I also think there's value in buying from a broker. If you can get two plat 1-bed prem units like David suggested, you might be better off in the long run, but it all depends on your travel needs. And, those units are hard to find.

vss · Nov 12, 2012

Folks,

Given the recent discussion on WKV Platinum resales, what is your opinion of the price on this Platinum EOY WKV listing on ebay? Thanks.

http://www.ebay.com/itm/67K-STAROPT...60507851035?pt=Timeshares&hash=item53eff1411b

DavidnRobin · Nov 12, 2012

vss said:
Folks,

Given the recent discussion on WKV Platinum resales, what is your opinion of the price on this Platinum EOY WKV listing on ebay? Thanks.

http://www.ebay.com/itm/67K-STAROPT...60507851035?pt=Timeshares&hash=item53eff1411b

Too much (IMO) - I would only consider buying 81K SO. (1Bd Prem)

grgs · Nov 12, 2012

vss said:
Folks,

Given the recent discussion on WKV Platinum resales, what is your opinion of the price on this Platinum EOY WKV listing on ebay? Thanks.

http://www.ebay.com/itm/67K-STAROPT...60507851035?pt=Timeshares&hash=item53eff1411b

Seems an ok price to me, but not great. This is a 67,100 SO unit, not 81,000. There's one listed at SmartChoice for the same price (a reputable broker). I'd go that route first. Although, this ebay seller is well-regarded.

Glorian

jerseygirl · Nov 12, 2012

vss said:
Folks,

Given the recent discussion on WKV Platinum resales, what is your opinion of the price on this Platinum EOY WKV listing on ebay? Thanks.

http://www.ebay.com/itm/67K-STAROPT...60507851035?pt=Timeshares&hash=item53eff1411b

The same thing can be had at Vistana Villages for practically nothing. Even though the maint fees are higher at VV, you'd have over 15 years before it would actually cost you more. 15 years is a long time ...

Ken555 · Nov 12, 2012

jerseygirl said:
The same thing can be had at Vistana Villages for practically nothing. Even though the maint fees are higher at VV, you'd have over 15 years before it would actually cost you more. 15 years is a long time ...

Does this include the average annual MF % increase? I had thought SVV has increased more (%-wise) than WKV over the last five or so years. Otherwise, I agree...

gtm2011 · Nov 12, 2012

Ken555 said:
Does this include the average annual MF % increase? I had thought SVV has increased more (%-wise) than WKV over the last five or so years. Otherwise, I agree...

I was thinking the same thing. I thought the maintenance fees and taxes for a two bedroom SVV Bella in Gold Plus season worth 67,100 StarOptions runs roughly $1,100 a year, while a platinum WKV one bedroom would run roughly $540 a year for the same 67,100 StarOptions. Using the 15 year comparison is also pretty tough to do; because you are assuming they will both be worth the same in 15 years (which I hope is not the case).

gtm2011 · Nov 12, 2012

DavidnRobin said:
Too much (IMO) - I would only consider buying 81K SO. (1Bd Prem)

David,
Why would you only consider buying a WKV platinum premium one bedroom worth 81,000 StarOptions and not the 67,100 StarOptions standard one bedroom? I understand the difference under the old Starwood rules where you could not combine StarOptions to make a reservation, but under the new StarOptions rules I don’t know if that still applies (especially now that you can bank StarOptions and combine them). The actual maintenance fee per point is lower with the standard one bedroom versus the large one bedroom. I know there are a lot of variables in this discussion, so we are assuming the purchase prices are adjusted accordingly between the two different one bedrooms. Plus if you can only own one, 81,000 StarOptions is easier to use in the Starwood system. I am really talking about adding to your existing total StarOptions. I hope you understand the point I am trying to make.
Thanks,
Jason

jerseygirl · Nov 13, 2012

Ken555 said:
Does this include the average annual MF % increase? I had thought SVV has increased more (%-wise) than WKV over the last five or so years. Otherwise, I agree...

No, you're correct, I didn't pull out my actuarial calculator. I think the actual difference between the two maint fees is somewhere around $260. I rounded that in my head to $300. I then took the price of the eBay unit (somewhere around $5000) ... Did the math in my head and came up with 16, which I then rounded to "over 15.". The HS football coach (a legend in Ohio!) would be so proud that I retained his "business math" (aka math for dummies) tricks!

We could try to factor in hypothetical maint fee increases ... but if we are going to do that, I'm going to have to insist we place a hypothetical value on the fact that a studio gets penalized in II, while a 2-BR gets rewarded.

. Sure ... The reason to buy a mandatory unit is internal trading, but has anyone besides me noticed that even some of the die hard network buyers have caught on that you can trade a low value SO unit for a high value SO unit in II?

gtm2011 said:
I was thinking the same thing. I thought the maintenance fees and taxes for a two bedroom SVV Bella in Gold Plus season worth 67,100 StarOptions runs roughly $1,100 a year, while a platinum WKV one bedroom would run roughly $540 a year for the same 67,100 StarOptions. Using the 15 year comparison is also pretty tough to do; because you are assuming they will both be worth the same in 15 years (which I hope is not the case).

Yes, I'm assuming they will both be worth the exact same thing in 15 years - exactly zero.

dlca1 · Nov 13, 2012

People aren't kidding when they say this timeshare thing is addicting!

Assuming my purchase of the 2 bedroom WKV plat goes through, I'm already thinking about how to "top off" the 148,100 to 162,000 so that we can stay in wkorv for 2 weeks straight in a 1 bedroom (81000/week) if we want to.

View is kind of important for us in hawaii, so I haven't been chasing the II trader route. Will eventually want to use as two bedroom, but would rather have 2 weeks in 1 bedroom now before toddlers are in school.

Are these the two recommended options? Any better ways to be able to top off?

1) buy EOY vistana gold plus (67100 every two years). Basically free but higher maint.
2) buy eoy plat WKV small 1 bedroom (67100 every two years). Cheapest maintenance.

jerseygirl · Nov 13, 2012

Dlca - are you aware you can book more than 7 nights at the 8-month mark? Example: Check-in date on a Sunday

81000 first 7 nights in a one-BR
12500 second Sunday night
24300 Monday - Wednesday
12500 Thursday
16200 Friday

12 nights instead of 14 but only one maint fee

dlca1 · Nov 13, 2012

Thanks jerseygirl!

I did not know that! I thought you had to book entire weeks at 8 month and could only do partial weeks within 90 days

DeniseM · Nov 13, 2012

dlca1 said:
Assuming my purchase of the 2 bedroom WKV plat goes through, I'm already thinking about how to "top off" the 148,100 to 162,000 so that we can stay in wkorv for 2 weeks straight in a 1 bedroom (81000/week) if we want to.

View is kind of important for us in hawaii, so I haven't been chasing the II trader route.

Just so you know, trading in with WKV you won't get a view either.

You only have a view if you buy a deeded week at WKORV/N.

dlca1 · Nov 13, 2012

Thanks DeniseM

Do you get a similar room/view if you trade via II vs star options?

let's say we are trying to go during desirable but non peak time like October.

From previous threads, I understand you should expect a parking lot view if trading via II. Anything nicer is a bonus. I view it as similar to getting a room through Priceline. I'm happy to just stay there for the price and expect the least desirable room.

What kind of room/view are folks typically getting using staroptions? Should one expect same as II, or maybe expect island view, but non parking lot view?

DeniseM · Nov 13, 2012

dlca1 said:
Thanks DeniseM

Do you get a similar room/view if you trade via II vs star options?

With both, you will get a floating view, to be assigned by the resort at check-in.

let's say we are trying to go during desirable but non peak time like October.

From previous threads, I understand you should expect a parking lot view if trading via II. Anything nicer is a bonus. I view it as similar to getting a room through Priceline. I'm happy to just stay there for the price and expect the least desirable room.

What kind of room/view are folks typically getting using staroptions? Should one expect same as II, or maybe expect island view, but non parking lot view?

Very few units actually have a parking lot view - the street side of building 4 is the only building at the resort that has that view.

With Staroptions, I believe you have a better chance of getting a better view, but I would expect to get an Island View, and consider anything else an upgrade. I don't think Staroptions give you much of an advantage with the view, but you have a better chance of getting high season and holiday weeks with Staroptions vs II, excluding Christmas and New Years. If you are flexible about when you travel, a II trader is a much better deal.

Henry M. · Nov 13, 2012

The lower floor rooms that face the park towards the back of building 3 are considered Ocean View, but also look at the park's parking lot. They are a little better than the back of building 4, but not very good.

DeniseM · Nov 13, 2012

emuyshondt said:
The lower floor rooms that face the park towards the back of building 3 are considered Ocean View, but also look at the park's parking lot. They are a little better than the back of building 4, but not very good.

True, but they also face the ocean, so I think the other side of the building is far worse.

Henry M. · Nov 13, 2012

I think I'd rather have a unit at the top of the back of building 4 than the one or two units on the first floor at the back of building 3, either facing the parking lot or the back of Ocean Grill ...

Are the units in building 4 that look towards the ocean near the south corner considered IV or OV? The high floors there don't look too bad.

DeniseM · Nov 13, 2012

emuyshondt said:
I think I'd rather have a unit at the top of the back of building 4 than the one or two units on the first floor at the back of building 3, either facing the parking lot or the back of Ocean Grill ...

Are the units in building 4 that look towards the ocean near the south corner considered IV or OV? The high floors there don't look too bad.

Ocean View

YYJMSP · Nov 13, 2012

dlca1 said:
I did not know that! I thought you had to book entire weeks at 8 month and could only do partial weeks within 90 days

Either the arrival date or departure date has to fall on a normal check in/out day; other than that, you can book as many days as you have SO's for at 8 months out, as long as it's for at least 7 days...

Advice on purchasing SPG Vacation Ownership

vacationtime1

TUG Review Crew: Veteran

Ken555

TUG Review Crew: Veteran

vss

DavidnRobin

grgs

TUG Review Crew

jerseygirl

Ken555

TUG Review Crew: Veteran

gtm2011

gtm2011

jerseygirl

dlca1

jerseygirl

dlca1

DeniseM

dlca1

DeniseM

Henry M.

DeniseM

Henry M.

DeniseM

YYJMSP