just won a silver Myrtle Beach for $449 +closing. Why so cheap? [Ultimate Occupancy?]

MOXJO7282 · Oct 6, 2013

I really never understood why there silver MOW OFs sell so cheap. So maybe I'm missing something. I really bought it to use down the road because it matches up with my gold GO OFs but for the next 5 years I'd like to break even on the rentals.

This first year I don't expect to get a good year and may not be able to rent but I'm assuming if I can get week 37 that would be a unit that could rent for MF+. At least that's what I'm hoping.

So why do these silvers go so cheap?

Janette · Oct 6, 2013

Someone wanted to get rid of it. Has it passes ROFR yet? That is the problem with really cheap weeks.

TheTimeTraveler · Oct 6, 2013

MOXJO7282 said:
I really never understood why there silver MOW OFs sell so cheap. So maybe I'm missing something. I really bought it to use down the road because it matches up with my gold GO OFs but for the next 5 years I'd like to break even on the rentals.

This first year I don't expect to get a good year and may not be able to rent but I'm assuming if I can get week 37 that would be a unit that could rent for MF+. At least that's what I'm hoping.

So why do these silvers go so cheap?

Who wants to go to Myrtle Beach or Hilton Head during Silver Season ?

That's why the purchase value is so low!

.

Beefnot · Oct 6, 2013

MOXJO7282 said:
I really bought it to use down the road because it matches up with my gold GO OFs but for the next 5 years I'd like to break even on the rentals.

Are you buying it 5 years before you plan to use it because you have good reason to believe that silver season prices will materially rise during this time period? Otherwise plopping down earnest money today to break even for several years is a peculiar proposition.

SunandFun83 · Oct 6, 2013

You pai $5,000 too much

I agree with comments above: Who would ever want to go to HHI or Myrtle in Silver season and why would you buy a week five years before you need it. This is a classic case of cheaper to rent than own The silver season weeks are always available as II Getaways for $400 to $600. This is around half the cost of maintenance fees. The Silver week are also really easy to rent on the TUG last minute rentals or Classifieds.

Maybe this can educate others: Go Big( Platinum, maybe a MGO Gold) or rent for less than maintenance.

Not to mention you can rent two months ahead and owning requires plan ahead.

I am on record that most $1 weeks are a bad purchase.
:shrug:

dioxide45 · Oct 6, 2013

Why are all Marriott silver and bronze weeks so cheap? The problem is that they silver and bronze weeks are in places that are very seasonal. Meaning they are not year round destinations. Silver and bronze seasons are very low demand and these weeks can, as others indicate, be picked up via getaways for less than MFs.

Something else that Ocean Watch has working against it, from a trading standpoint, is that it doesn't lock off.

MOXJO7282 · Oct 6, 2013

SunandFun83 said:
I agree with comments above: Who would ever want to go to HHI or Myrtle in Silver season and why would you buy a week five years before you need it. This is a classic case of cheaper to rent than own The silver season weeks are always available as II Getaways for $400 to $600. This is around half the cost of maintenance fees. The Silver week are also really easy to rent on the TUG last minute rentals or Classifieds.

Maybe this can educate others: Go Big( Platinum, maybe a MGO Gold) or rent for less than maintenance.

Not to mention you can rent two months ahead and owning requires plan ahead.

I am on record that most $1 weeks are a bad purchase.

A Grande Ocean OF Gold unit will sell for $7k or so. These cover the same weeks so and this is OF as well so unless someone tells me the weather is dramatically different I think this is a great buy.

I seriously doubt you're getting a MOW Sept OF week on a getaway. I'd have to see that be believe it. Maybe a GV but I wouldn't want that anyway.

Looking at Redweek rentals are clearly over MFs for OF and OS units so I'm fairly confident it will rent. Heck my Monarch week 40 rents each and every year for MF+ so why wouldn't a week 37-40 MOW OF do the same if not better? My hunch is it will and I know a thing or two about renting Marriott OF units.

I paid in total counting the closing $750 for an Marriott OF unit that I think in the long run will be well worth it. My only question is there something undesirable about going to MB in Sept that I don't know about? I've read a few other posts that say it is the same as HHI so if that is the case then I know I made a good decision because the weather in HHI in Sept/early Oct is awesome.

Beefnot · Oct 6, 2013

MOXJO7282 said:
A Grande Ocean OF Gold unit will sell for $7k or so. These cover the same weeks so and this is OF as well so unless someone tells me the weather is dramatically different I think this is a great buy.

I seriously doubt you're getting a MOW Sept OF week on a getaway. I'd have to see that be believe it. Maybe a GV but I wouldn't want that anyway.

Looking at Redweek rentals are clearly over MFs for OF and OS units so I'm fairly confident it will rent. Heck my Monarch week 40 rents each and every year for MF+ so why wouldn't a week 37-40 MOW OF do the same if not better? My hunch is it will and I know a thing or two about renting Marriott OF units.

I paid in total counting the closing $750 for an Marriott OF unit that I think in the long run will be well worth it. My only question is there something undesirable about going to MB in Sept that I don't know about? I've read a few other posts that say it is the same as HHI so if that is the case then I know I made a good decision because the weather in HHI in Sept/early Oct is awesome.

Still trying to understand the rationale. I realize it is not your question, but assuming you clear enough over five years to make a wash out of the purchase price, why would you not simply wait five years to purchase? Do you suspect that silver weeks will appreciate in resale value, or that Marriott will offer to buy back weeks for more than they could ROFR them?

Fasttr · Oct 6, 2013

Beefnot said:
Still trying to understand the rationale. I realize it is not your question, but assuming you clear enough over five years to make a wash out of the purchase price, why would you not simply wait five years to purchase? Do you suspect that silver weeks will appreciate in resale value, or that Marriott will offer to buy back weeks for more than they could ROFR them?

I'm guessing it has something to do with the title of the thread..."just won a silver Myrtle Beach OF for $449 plus closing. Why so cheap?".

IMO, there is a big difference between the mindset of someone who "wins" things on eBay and that of someone who "purchases" things on eBay.

MOXJO7282 · Oct 6, 2013

Beefnot said:
Still trying to understand the rationale. I realize it is not your question, but assuming you clear enough over five years to make a wash out of the purchase price, why would you not simply wait five years to purchase? Do you suspect that silver weeks will appreciate in resale value, or that Marriott will offer to buy back weeks for more than they could ROFR them?

The rationale is best case scenario is it rents for MF + $600 every year and worse case I can't rent and have to give it to family or friends for a few years until I can use. My guess is looking at Redweek and knowing that my other SC fall weeks rent for MF+ I believe it will rent for MF +$300 or so.

MOXJO7282 · Oct 6, 2013

The big value to me and I think to the potential renters is the OF view. If you don't own one and have never tried to rent one you wouldn't know that they always command a premium so I think I should do quite well with this.

Even if it were OS I would've passed but an OF unit for that cheap is hard to pass up, especially because it matches with our other SC fall weeks.

I really look forward to when we can use the week. We now have 2 GO Gold OF, this MOW OF and a week 40 Monarch so I can see us getting week 37 then using GO for 38 and 39 and then the week 40 at the Monarch for a nice month in SC during what I think is the best time of year to be in HHI and hopefully MB, Sept into early Oct.

jeffwill · Oct 7, 2013

Kinda think this will be the last post. You've fully rationalized why you bought it, so why ask what other people think ?

Pay your MF's, rent It (?), and enjoy it. I like silver season as well.

MOXJO7282 · Oct 7, 2013

jeffwill said:
Kinda think this will be the last post. You've fully rationalized why you bought it, so why ask what other people think ?

Pay your MF's, rent It (?), and enjoy it. I like silver season as well.

I'm asking because I'm wondering if I'm missing something as I don't know anything about MB in the mid-Sept-Mid Oct and MOW has a very strange calendar than all of the other Marriott SC resorts.

You appear to own SC resorts what is weeks 37-40 in your system? Gold or silver?

momeason · Oct 7, 2013

MOXJO7282 said:
I'm asking because I'm wondering if I'm missing something as I don't know anything about MB in the mid-Sept-Mid Oct and MOW has a very strange calendar than all of the other Marriott SC resorts.

You appear to own SC resorts what is weeks 37-40 in your system? Gold or silver?

I live a couple of hours from MB and mid September is very nice if you want to use the week yourself. Until mid October, the weather can be great and the water is warm. Of course, there is a small chance of a hurricane, it really is a small chance on any given week.

LisaH · Oct 7, 2013

I think for using it yourselves, it's a great buy. However, don't count on renting for more than the M/F even it's an ocean front week. Once the school starts, the rental potential decreases dramatically...

pedro47 · Oct 7, 2013

Personally, I think it is a steal. Mid Sept & October are great times to be in MB. Temps are mild and there are less people on the beach.

The main reason golf fees are reduce during this time frame. That is one person opinion only.

Pens_Fan · Oct 7, 2013

I pick up Ocean Watch silver weeks as getaways for under $400.

It's a crapshoot on view. I've had Ocean Front, Ocean Side, and Garden View. It's nice to get Ocean Front, but it's nicer to not have maintenance fees.

Bucky · Oct 7, 2013

It's a great time to be in MB so you should have absolutely no problems renting it for MF+.

Weather usually stays very nice up until about the middle of Oct. Shoot, it's been in the high 80's for the last week where we live and that's 3 hrs NE of MB.

Who wants to go to MB in Silver season? Lots of people that don't like large crowds. Empty nesters who are happy the kids are gone and back to school. Golfers!

I think you made a great purchase that will more than pay for itself in the long run. Enjoy

EKniager · Oct 7, 2013

Let us know how the ROFR goes. Interested to see how the new "Marriott" reacts to this transaction.

csxjohn · Oct 7, 2013

Since this is silver season it means the demand is not as high as at some other times. To be assured of renting, demand needs to be high and the price competitive.

I would not take the asking prices on RedWeek when making a business decision.

These will still be around in 5 years when you're ready to use it.

MOXJO7282 · Oct 7, 2013

Pens_Fan said:
I pick up Ocean Watch silver weeks as getaways for under $400.

It's a crapshoot on view. I've had Ocean Front, Ocean Side, and Garden View. It's nice to get Ocean Front, but it's nicer to not have maintenance fees.

Is that a Sept silver OF week for $400? More likely its a November OF for $400. If not then it certainly was a mistake but again, Sept OF to me should mean a rental of more than MF. Time will tell. The first year will be a true test because I assume I'll get stuck with a bad week so that may be a give away.

kjd · Oct 7, 2013

An MGO silver season on HHI is a pretty good trader. So much so that we have never stayed in the unit. As far as going to HHI during the Silver season it's a great time to go. I hope that people keep telling others that it's awful so people will stay away.

You avoid all of those crowds during the busy times and have a better selection to trade for. The island can be a traffic nightmare during season. We traded a one bedroom for a three bedroom SurfWatch at Thanksgiving this year. Can't do that during high season on Hilton Head.

cory30 · Oct 7, 2013

I think as long as you can get week 37 or 38 consistently your plan should work pretty well. As a multiple week owner the 13 month window should certainly be to your advantage here. Unless a reservation has already been made for 2014 next years usage may be one that you allow family to use.

Saintsfanfl · Oct 7, 2013

kjd said:
An MGO silver season on HHI is a pretty good trader. So much so that we have never stayed in the unit. As far as going to HHI during the Silver season it's a great time to go. I hope that people keep telling others that it's awful so people will stay away.

You avoid all of those crowds during the busy times and have a better selection to trade for. The island can be a traffic nightmare during season. We traded a one bedroom for a three bedroom SurfWatch at Thanksgiving this year. Can't do that during high season on Hilton Head.

Silver on HHI is not the same as Silver at MOW. Silver at MOW covers 5-8, 37-48. Silver at MGO covers 5-12, 44-48, 51-52. Silver weeks 37-43 are Gold at HHI. These weeks at both locations run about the same TDI, which is around the middle.

I agree that Silver at MOW is a bit undervalued due to it covering 37-43. People get hung up on the label "Silver" and stop right there. It's similar to a Silver at Ocean Pointe being the same as Gold at Beach Place and covering some platinum weeks at Oceana Palms right next door.

Deej82 · Oct 7, 2013

OK this one hits home for me. I own 2 silver OS weeks at OW... bought them pre-TUG (sadly) and pre-construction. I have consistently been able to use 13 month window to get concurrent/consecutive week 37/38... some years different check-in days but something. It really is a beautiful time at MB since school is back in but it's still warm out. I have been able to rent consistently at about $200-$250 over MF as well... some through Redweek and some to co-workers and friends.

If I had to do it all over again...

+Resale.. obviously!!

+OceanSide is a great view but I would have bought OF, especially when renting off-peak season.
+Even week 37 is a crappy trader.. I've been very disappointed with what it will pull, especially since there's no lockoff.
+DC enrollment was more depressing since it only gives 1600 points per week, pricing it >$0.60 per pt/MF..ugh (not a problem for new resale though)
+Would have bought a better season even though Sept is nice, Gold/Plat has a lot more rental value for the MF, and now as our family grows would be better home-use options.

Take it for what you will. Awesome resort. We love it as a home-use unit or one we give/rent to family/friends. I'm working other options to get more DC points and not use these for DC in the long-run.

Thanks..D.J.

just won a silver Myrtle Beach for $449 +closing. Why so cheap? [Ultimate Occupancy?]

MOXJO7282

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