Rookie question

Ok, I've read this board to the point that I think my brain is dead, so I wanted to pose a question to see if I have everything straight:

I'm thinking about looking into a 1br biennial resale purchase, probably at Vistana Resort, then upgrading to an annual at Vistana Villages. If my thinking is correct, I would not have the star options when I purchase the resale, but by upgrading at Villages I would be retroed into them. I definitely want to own in Orlando as I visit Florida fairly often-I figure I can upgrade more later if I want to travel more.

So, is my logic completely off here, or does this sound like a decent idea? Any suggestions would be helpful.

Sorry for the rookie question-there's a lot of information to digest!

Thanks!

Welcome to TUG!

Yes, once you requalify a week, it becomes identical to one purchased from the developer and includes all the rights of a developer purchase: Staroptions, Starpoints, and the right to combine Staroptions from 2 different resorts.

What are your plans for using the Staroptions? i.e. How often do you think you will convert to Staroptions and where do you want to go using Staroptions?

Since the Florida TS's generally have less Staroptions than some of the other resorts, make sure you buy a week(s) with enough Staroptions for the exchanges you want to make. There is a Staroption chart posted in the Owner Resources Sticky.

One problem. You can't "upgrade" at SVR to SVV! You can upgrade an EOY at SVV to an EY at SVV or an EOY at SVR to an EY at SVR. But usually you can't take a Vistana Resort and use it to upgrade to a Vistana Villages. So choose carefully what you buy.

Katherine

Thanks Kath! I totally missed that!

Thanks for the responses!

I definitely will be using the star options-even if I can't get a full week when I exchange. Orlando is extra convenient for me as I still have family and friends there, so I'm there quite a bit making it easier to get the upgrade.

However, I'm not completely opposed to purchasing eslewhere if I get more options for less $. I have downloaded the star options chart so I have quite a bit of research to do before I buy.

Of course, any other advice is welcome. Thanks again!!

Oh, one more thing, if I'm going to be upgrading, does it matter if I buy mandatory or voluntary?

boblpobl said:

Thanks for the responses!

I definitely will be using the star options-even if I can't get a full week when I exchange. Orlando is extra convenient for me as I still have family and friends there, so I'm there quite a bit making it easier to get the upgrade.

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It is difficult to reserve less than a week at a popular resort, because you can't make a Resv. for less than a week until 90 days out, and by that time, a popular season at a popular resort is likely to be completely full, so you are far better off to buy enough Staroptions for the exchanges you want to make.

Not quite sure what you mean by, "easier to get the upgrade." ?

Oh, one more thing, if I'm going to be upgrading, does it matter if I buy mandatory or voluntary?

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No, but a mandatory resort already has Staroptions with a resale so it's going to cost more upfront, and there is less reason to upgrade it.

What would be your goals in upgrading?

How often will you go to Florida vs doing a Staroption exchange and where else do you want to go? That info. will help us answer your questions a little more accurately.

Let’s make sure everyone understands the terminology being used here:

Upgrade: An upgrade is when you buy a cheap resale SVO property, and then turn it in to SVO in exchange for buying a new developer purchase. SVO usually gives you the original purchase price of the property you’re turning in (instead of the heavily discounted resale price that your bought it for), and applies that amount to offset the new developer purchase. Upon buying the new developer purchase, you no longer own the original resale property.

Retro/Requal: A retro/requal is when you first buy a cheap resale SVO property, and then buy an additional new developer property. As part of the new developer purchase, SVO agrees to retro/requal your resale into SVN. Upon buying the new developer purchase, you own two SVO properties – your original resale (which is now in SVN with StarOptions, StarPoints, the works) and your developer purchase SVO property.

With a full understanding of those two different processes, I would wager that the resale prices of the mandatory phases of VV (which would give you your StarOptions you’re seeking) would still be cheaper than any offset SVO offers you to upgrade a resale villa coincident with a new developer purchase.

Moreover, if your primary purpose is to regularly go to Orlando for cheap, remember that Orlando is the most oversold timeshare area in the world. Accordingly, you can usually find a cheap Orlando timeshare as an RCI extra-vacation or II getaway for much less than what SVO charges owners in annual maintenance fees.

If you join TUG, this link will take you to a recent sighting showing 2 BR VR villas can be had from Sept through November ’08 for under $450/week with no trading required. If you are willing to stay in a non-name-brand timeshare in Orlando, those can routinely be found for under $250/week as RCI “last call” inventory.

Of course, you need to own a timeshare someplace to join RCI and/or II (and make sure the place you buy is dual affiliated with both RCI and II like Sheraton Desert Oasis - hint, hint -- is) . . ..

Good Luck,
-nodge

Thank you, Nodge! - I am also unclear about whether the OP wants to requal or upgrade.

Ok, I think I'm starting to put the pieces together. Here's what I'm looking for as an end game:

For now I'm just wanting to get started as I'm still young and cash isn't flowing freely. However, I'm thinking if I get into it now, I can build on it as time goes on, and it will help make the most of what vacation time I have. There are certainly places I'd like to go within the Starwood network (Atlantic in particular, but that's for down the road) with the options, as well as star points (I know, I know, the value isn't as good, but timeshare doesn't seem too friendly to someone who wants to tour Europe without staying in one place the whole time). I don't necessarily need to do those things right away, so I'd be upgrading later on for those trips. That being said, I think I'd fall under the retro/requal as opposed to upgrading.
My logic is that if I purchase a EOY at resale price, then retro it by adding the other year, it should save quite a bit of money and end up with the same benefits. I can then "upgrade" later when the cash flow allows.

So, part of my question was whether or not going from EOY to EY qualifies me to "retro".

I hope that clears it up a bit. Again, I apologize for my "rookie"-ness. I'll definitely look closer at Desert Oasis-thanks for that tip.

You can retro your EOY with a Starwood purchase of an EOY IF the price is >$20,000. SInce you are stuck having to spend a lot of money, I would try to retro something that is worth a lot of StarOptions (148,100) right from the beginning, though. Otherwise, like nodge suggested, you can just buy a mandatory resort and get the SOs without having to spend the $20,000 with Starwood.

Right now, the cheapest M resort is SVV and 81,000 SOs (enough for a large 1BR exchange in the SVN system) is about $6800. That's not a lot of money for a lot of flexibility. As a matter of fact, the only think you would miss out on by buying resale at SVV would be the chance to convert to StarPoints with the hotel system. No great loss usually. And MF at SVV are reasonable.

So maybe you need to again define what you want to get out of the whole transaction.... There are many creative options to save money and get what you want (including an upgrade and retro at the same time method) but it's only worth it IF you get something out of it that is particular to your situation. I need StarPoints for example due to my crazy lifestyle and lack of ability to go on 1 week trips all the time. So I retro'd and upgraded everything to get into the system and get my SPs (for cheap).

Katherine

Upgrades

Also, according to my sales rep at WKV, there is another new rule. In order to upgrade a resale through the developer, the buyer is now required to spend a minimum of $8K for Florida and $10K for other non Florida resorts.

For example, if you wanted to upgrade a two-bedroom biennial Sheraton Vistana Fountains I or II (approximately $6300) to an annual (approximately $12,600), it wouldn't work.

SDKath is right - In your position, I would just buy a minimum of 81K Staroptions at a mandatory resort. The option to convert to Starpoints is just not worth paying an extra $20K!

Buy resale, try Starwood out for a bit, and then decide if you really "need" to requalify.... I bet you won't!

Also, you say "cash isn't flowing freely." If you are thinking about financing a timeshare, don't do it! A timeshare is a luxury purchase and the value is going to depreciate - the last thing you want to do in this economy is to finance one! There are many very nice timeshares on ebay that you can buy for pennies on the dollar and pay cash. My recommendations for buying your first timeshare.

Good luck!

My $297 Sheraton Falls eBay purchase just traded into WKORVN for this fall! Could have picked WPORV or WKV too. Parents are thrilled because I am sending them as an anniversary gift! So don't overestimate the whole SVN system. An 'el cheapo' unit will do well in II too since it has the 3 day priority window!

Katherine

SDKath

DeniseM said:

SDKath is right ...

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"SDKath is right" seems to be the Mantra on this board

SDKath said:

My $297 Sheraton Falls eBay purchase just traded into WKORVN for this fall! Could have picked WPORV or WKV too. Parents are thrilled because I am sending them as an anniversary gift! So don't overestimate the whole SVN system. An 'el cheapo' unit will do well in II too since it has the 3 day priority window!

Katherine

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Wow! I'm glad I just bought two of those...

Ken555 said:

Wow! I'm glad I just bought two of those...

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Good choice! I seem to be able to see everything with my week (29). The weeks are fixed so I am also able to deposite them and make exchanges on line in II without having to even call the Starwood desk.

Make sure what you bought was a high season deeded week (Spring, Summer or week 52)! Otherwise it won't trade as well, I don't think.

Katherine

SDKath said:

Make sure what you bought was a high season deeded week (Spring, Summer or week 52)! Otherwise it won't trade as well, I don't think.

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Hmm...interesting point. For me, too late, but hopefully others see this!

Mine are weeks 18 (first week of May) and 49 (early December). Still waiting for them to close...sigh...

These $ 297 you are talking about are PLUS the special assesment of about $ 1,300, right?

Ken555 said:

Wow! I'm glad I just bought two of those...

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Yes. For me, I had to pay the special assessment too. Still a bargain considering how nicely they are being renovated (flat screen TVs, Bose, granite kitchens, new contemporary cabinets...).

Ken -- call the seller and ask him to swap it for a more high demand week for you (at Falls or Springs)! If it's the same seller as mine, they have hundreds of these units. It't not too late till the escrow closes....

Katherine

abdibile said:

These $ 297 you are talking about are PLUS the special assesment of about $ 1,300, right?

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I purposefully found units which start in 2009, and part of the deal is that I only pay the 2009 portion of the special assessment, so I only end up paying half of that. I paid $400 after closing costs for each of mine, plus maintenance and special assessment fees as of Jan 1 2009. I didn't want 2008 usage anyway, so this works well for me.

SDKath said:

Ken -- call the seller and ask him to swap it for a more high demand week for you (at Falls or Springs)! If it's the same seller as mine, they have hundreds of these units. It't not too late till the escrow closes....

Katherine

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Actually, they don't have lots of these - at least, not at the source I found. I'm fine with the weeks I have. And if Falls ever gets invited into SVN...

Another rookie question...

SDKath said:

My $297 Sheraton Falls eBay purchase just traded into WKORVN for this fall! Could have picked WPORV or WKV too. Parents are thrilled because I am sending them as an anniversary gift! So don't overestimate the whole SVN system. An 'el cheapo' unit will do well in II too since it has the 3 day priority window!

Katherine

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I am sorry if this seems trivial, but I am quite new to all this. Where is Sheraton Falls ? I can not find it int the starwood web site. Since it is not SVN, did you get your trades through II ?

the falls section is part of sheraton vistana resorts. it is one of the older sections, it is being renovated. there are beaytiful pictures of the renovation but it is on My starcentral which is for owners only. anyone know where she can see the pictures of the falls?