Shawnee timeshare buildings to be sold - 92% delinquency rate!

I have exchanged into a number of the Shawnee properties including northslope. My understanding is that when the HOA's of the other villages did assessments for the rec center and for fairfield/Wyndham management Northslope's HOA chose not to participate, and that is why it is different than the other Shawnee properties. Northslope is about 2-3 miles up the road from the main Shawnee complex and is very near the ski slopes. Also,I believe that they are quarter shares and not weekly timeshares. Because they are not part of Wyndham, guests at Northslope do not have access to the rec center, but Northslope had maintained a relationship with the Shawnee Inn, and you were able to use the pool at the inn. When I was in Northslope a few years ago, they had done renovations on some of the townhouses. My main question is what about the weeks that are currently showing up in II getaways for next year? I don't see how those could be rented given this news.

pebbles7302 said:

I have exchanged into a number of the Shawnee properties including northslope. My understanding is that when the HOA's of the other villages did assessments for the rec center and for fairfield/Wyndham management Northslope's HOA chose not to participate, and that is why it is different than the other Shawnee properties. Northslope is about 2-3 miles up the road from the main Shawnee complex and is very near the ski slopes. Also,I believe that they are quarter shares and not weekly timeshares. Because they are not part of Wyndham, guests at Northslope do not have access to the rec center, but Northslope had maintained a relationship with the Shawnee Inn, and you were able to use the pool at the inn. When I was in Northslope a few years ago, they had done renovations on some of the townhouses. My main question is what about the weeks that are currently showing up in II getaways for next year? I don't see how those could be rented given this news.

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I would think it would depend on if the units you are talking about are involved with the quartershare program. If not, then I would not think there would be any changes. If so, then I do not know.

If Wilkins Real Estate was the management group for the unit(s) or the rental agent, give them a call, they would know.

The By-Laws for Northslope Phase 2 cover the Shawneequarters. The develop company under the by-laws is Shawnee Development, Inc., its successors and assigns.

http://www.bizjournals.com/orlando/stories/2005/08/08/daily45.html

http://www.bizjournals.com/orlando/stories/2008/10/20/daily25.html

Shawnee Development, Inc. was bought by Fairfield, which, in turn, became Wyndham.

Current holdings of Shawnee Development, Inc. in Monroe County:

http://www.co.monroe.pa.us/tax assessment/Default.aspx Enter Shawnee Development Inc in the search block.

Under the search Northslope in Monroe County the following owners of record for timeshare quarters shows up. Note the Management Companies of record are identified.

NORTHSLOPE PHASE2 OWNERS ASSO Quarter Shares 0

WACB PROPERTY MANAGEMENT
404 PARK AVENUE
STROUDSBURG PA 18360

NEPA MANAGEMENT ASSOC.INC
304 PARK AVENUE
STROUDSBURG PA 18360

NORTHSLOPE II QUARTERSHARE OWNERS ASSOC
C/O WACB PROP MANAGEMENT
404 PARK AVENUE
STROUDSBURG PA 18360

Note that NEPA and WACB are the same company.

http://www.nepamgmt.com/

More of a curiosity than anything. Not planning to return to Northslope; while the unit was fine, we were there for the big October Noreaster and did not have power for 2 freezing cold nights; the real estate company could only offer us firewood; II was very helpful and moved us to a wyndham unit.

received final approval today apparently

http://www.poconorecord.com/apps/pbcs.dll/article?AID=/20140123/NEWS/401230319/-1/news

I've never stayed at Northslope, but maybe not such a bad deal for full ownership - under 50K? How big are the units? An owner can restructure however they want. Maybe create a 3rd bedroom?

My first TS was in the Poconos and my impression has always been that, for some reason, the Poconos attracted the largest number of crooks and charlatans in the timeshare industry. Maybe it has to do with state regulation or something else, but my memories of timeshare sales (before TUG) was that of "legal specialists" concluding the deal by reading a document explaining to purchasers they were signing away their consumer rights. A number of the timeshares were tied to other types of properties such as hotels or vacation home developments, such as appears to be the case here, and the developers appeared to get together with RCI and keep reducing the available weeks to TS owners until people started walking away from their ownership which was, fortunately, RTU. Our TS was tied to Penn Hills Resort and was eventually dropped from RCI because the resort was renting the TS units as ski condos and they got totally trashed by groups of skiers crowding in and partying on weekends which resulted RCI saying the place was no longer up to standard. It no longer mattered as the developers of this, and other Pocono timeshares, had created a "ski season" classification which covered half the year and left the red, white and blue weeks owners fighting to try and book one of the few remaining, overbooked seasons.

Good Morning. I am the attorney that formulated the plan of consolidation and liquidation for the NorthSlope Quartershare Association. One of my colleagues brought this thread to my attention and I wanted to respond with the final details now that the process is over.
First, the Quartershare Association was a separate stand alone community within Northslope II. It was developed and sold out by Shawnee Development, Inc. It had no association with Wyndham and was turned over to and run by the owners as members of the ShawneeQuarters Association.
The general comments regarding taxes and assessments in this thread are fairly accurate, as well as the delinquency rate. RCI accreditation was terminated and the Association was in shambles. Many of the quarters were being exposed to tax sale and ultimately, the interval value was zero, especially once RCI terminated.
Long story short-
We were able to consolidate the timeshare units into wholly owned townhomes. The timeshare form of ownership was terminated. We filed tax assessment appeals and reduced the annual taxes on the wholly owned townhomes to approximately $3,500.00 per year. We also negotiated for the NSII Whole Owners Association to take over control of the newly formed townhomes and absorb them into their community. This reduced the monthly assessments to roughly $230 per month, or about half of what each of the quartershare owners were required to pay.
Ultimately, the units were then exposed to sale. In just two weekends, each of the units was under contract. Ultimately, all units have been closed and settled. Target prices were actually exceeded, with the low being 49.9k and several closing over 55k.
Most happily, we came up with a plan to pay off delinquent taxes and debts of the Association, and distribute remaining funds to the existing members. Currently, those distributions are being calculated, but it appears as though some members will be receiving checks for their quartershare in excess of 25k. It further appears that all owners that are less than 3+ years delinquent on their dues and assessments will be receiving a distribution.
Our team is quite proud of this result, especially when considering that a short two years ago, an owner could not literally give an interval away. This is our third project of this type, and in each case we have been able to successfully distribute funds to timeshare interval owners as part of the process. In each of the cases, before we got involved, the timeshare intervals had negative fair market value. I hope this clarifies what happened.

If you can make a profit for yourselves and get some money back to timeshare owners I think you will be able to find plenty of work in the foreseeable future. Thanks for the post.

So the Shawnee referred to is not Wyndham? Would it be safe to purchase Wyndham Shawnee village points now?