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Blues

Blues

TUG Review Crew
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I've been meaning for a while to sell my 5000 pt gold unit at Craigendarroch, where the exchange rates are killing me for the maint fees, and buy a 7000 pt platinum unit in Las Vegas. Well, thanks to this thread, I took another look at what's on eBay. And while I didn't buy that specific unit, I got a 7000 point Flamingo unit for just $1.40 per point! Woo Hoo! :banana: And being a Flamingo, it won't have to pass ROFR.
 
Congratulations on a great deal. I love Hilton! :) Don't own any----yet. ;)
 
Wow.. that is a great deal. Good job.. that week should easily sell for $11-12K , even in this depressed market

Let me know how you go about selling your Scotland week. I have a couple 7000 point weeks I'm thinking of selling. I don't think my MF's are too bad.
Around $800 if I remember right.. How much are yours?
 
Hmmm, never thought about the icky U.S. exchange rate in Pounds or Euros having a serious effect on U.S. timeshare owners.

Is Hilton's Flamingo the one down near Wynn?
 
CaliDave said:
Wow.. that is a great deal. Good job.. that week should easily sell for $11-12K , even in this depressed market

Let me know how you go about selling your Scotland week. I have a couple 7000 point weeks I'm thinking of selling. I don't think my MF's are too bad.
Around $800 if I remember right.. How much are yours?
Click to expand...

You know, my recollection was that it was over $1000. But I just looked it up and it was only $937; plus, of course, the $85 HGVC fee. So the difference in maint fees probably didn't justify the expense of buying and selling. But still I got a great deal!

I think we're going to hold onto both units for a year or so, and see if we can find a way to spend 12000 points :D Perhaps we'll sell the Craigendarroch in 2010.

(Oh boy, this is a symptom, isn't it? Hello, my name is Bob and I'm a timeshare addict).

Cathy, the HGVC Flamingo is behind the Flamingo hotel (formerly Flamingo Hilton hotel), which is across the strip from Caesars and kitty corner to Bellagio. Or, as I like to think of it, HGVC Flamingo is next door to Battista's Hole in the Wall restaurant.
 
Blues, when you find a good 12-step group, let me know. I bought our first TS in April of this year (Seaworld). Just bought a resale earlier this month (Bay Club). I check eBay and search online for resales at least 3-4 times a day. My wife is getting nervous that I'll bankrupt the family. I need help!:rofl:
 
You did very well! We paid about $2K less for the 2 bdrm GOLD weeks we own there, but of course have the same MF's as you.

You definetly got a good deal!
 
Blues said:
You know, my recollection was that it was over $1000. But I just looked it up and it was only $937; plus, of course, the $85 HGVC fee. So the difference in maint fees probably didn't justify the expense of buying and selling. But still I got a great deal!
Click to expand...

$937 is a little high for 5000 points.. but not too bad for 7000 points. About $100 more than the Flamingo 7000.

I'm guessing the 7000 point Scotland week will sell for about $7K?? So I guess you're right.. even if you save $100/yr in MF's.. it'll take 30 years to break even :) .. anyway, it was a great deal for Flamingo. Good job.
 
Even Cheaper on eBay!

So the week that was mentioned in the TUG thread that got me looking at eBay went even cheaper -- $9500 for 7000 points at Flamingo. Wow.

The difference between this week and the one I bought is that this week still had its 2008 points intact, but requires the buyer to pay the 2008 maint fees, which is only fair. But if your plans are already set for 2008, like most of ours are, that means you'd need to pay to rescue those points so you can use them next year. Not a big penalty, but slightly inconvenient. The week I bought has its use starting in 2009, giving me time to plan what I want to do with the points. All-in-all, that makes it a comparable deal in my mind.

Still, $9500 for 7000 platinum points is practically unheard of. Perhaps the market is weaker than we all thought?
 
Blues,
As there is no mention of funds being escrowed, or a title search or insurance being offered, make sure you protect yourself. Make sure that a licensed bonded escrow company is used. Also, make sure you have title insurance, as there have been issues that I have seen. If you need the number of a few closing companies, feel free to email me.
 
Hi Seth
pricing is really cheap in Scotland and flamingo- and they are not excercisng rofr for some reason-
In your opinion, do you think prospective buyers should not consider other HGVC resorts at this time, but instead focus on these two only? As HGVC will probably rofr other attractive priced deals?
 
Benj,
The Scotland units are affiliates. The maintenance fees are very high. As for the Flamingo, if you buy a clean unit, from a licensed broker, prices tend to be about $11,500 - $12,000. The auction listed above is from nonlicensed "broker" and may not be clean units. Without being offered title insurance and without funds being escrowed, you are taking a big risk. Many transactions go smoothly, however some people get scammed, intentionally or unintentionally. You would not use an unlicensed lawyer or doctor as you would be taking a big risk. The same is true with a nonlicensed broker. If you do agree to buy from anyone, make sure you protect yourself. Use a licensed escrow company that is reputable and make sure a title search is done. You don't want it to come back to bite you.
 
Hi Seth,

Thanks for the reply. The seller's agent has specified Timeshare Transfer Inc as the escrow agent. I inquired about this escrow agent in this thread, and several TUGgers indicate that they're trustworthy. So I assume that as long as Timeshare Transfer holds the money in escrow until title closes, I should be OK, right? Good catch on title insurance, though. I don't know whether TTI offers this. I haven't made contact with them yet. Just signed the purchase agreement with the seller's agent this AM, and faxed it back. I assume that this will now go to the escrow agent, and I should deal with them from here. Does that sound right? On the up-and-up?
 
benjaminb13 said:
Thats a good question Blues
Is this accross the board or just with the flamingo?
Click to expand...

I have a limited sample size, but I've only seen it happening with Flamingo weeks. They're the only Hilton-owned property without ROFR.

You believe it's happening with Scotland too? That could be, since the exchange rate makes their maint fees expensive. I have a 5000 point Craigendarroch I'll want to sell for this very reason, once I close on the 7000 point Flamingo. Well, I actually may wait a year or two, to see if I can use all 12000 points.
 
You will not know of any problems until you try to sell the unit. You may think all is fine with the closing company and then in a few years, try to sell the property and find out that there is a lien on the title. This only happens a few times, however, if it is you, you won't be able to sell the unit. So, the closing company can have a good reputation because 99.9% of the time all is fine. But if they did not do a proper title search and issue insurance, and if you are the unlucky buyer, you will have just paid good money for something you will never be able to sell.
 
How could anybody compare a licensed doctor, lawyer, engineer or architect with a real estate broker? What is their equivalent to a MD, JD or PHD as an educational requirement of professional internship? Ever hear of a mother wanting her daughter to marry a real estate broker?
 
Come on, Bram

Its good advise Seth is giving us - and you know it.

you know a lot of things can go wrong in a resale transaction, A good broker knows all the ins and outs needed to negotiate the transaction.

Most of us know that anyone who is licensed whether it be a doctor or a broker can not get out of hand as he is subject to monitoring and disciplines of the govt (dept of real estate)- I believe-

An unlicensed broker has no boundaries-
 
Most real estate brokers in my community make far more $$$$ than the doctors and lawyers do. Wouldn't bother me a bit to have my daughter marry one.
 
Newbie here and back to the topic...

Why do the HHV points sell about $3.50/pt? If points are points, the only benefit in buying HHV points (vs Flamingo points) is the extra 3 months reservation window, right?
 
R Chen said:
Newbie here and back to the topic...

Why do the HHV points sell about $3.50/pt? If points are points, the only benefit in buying HHV points (vs Flamingo points) is the extra 3 months reservation window, right?
Click to expand...

Yes that exactly right. If you buy HHV, you can reserve your week from 12 months ahead. At 9 months, your in the same line with owners who bought for $1.40/pts at LV.
 
Bill4728 said:
Yes that exactly right. If you buy HHV, you can reserve your week from 12 months ahead. At 9 months, your in the same line with owners who bought for $1.40/pts at LV.
Click to expand...
And, if you have seen some of the recent threads, getting a HHV reservation at the 9-month window is not a given anymore. It has gotten extremely difficult with very little available inventory.

Kurt
 
Okay, I have been researching Hilton and thought I understood it a little - you can book EXACTLY what you purchased (unit size, season, full week) at your home resort 12 months out? At 9 months out, you can book at ANY Hilton resort with at least a 3 night minimum, any check-in day? I am reading that you can bank points, too? Can you borrow?

Now, you are talking about HHV and I am again lost - what is that?

I am thinking about EOY 1 BR at HGVC International Dr. - that would give me small points amount (what I'm looking for), MF to be paid only EOY, and smaller amount of MF because it's a 1 BR. Would I still be able to book 2 BR or studio sometimes? Would that get me in at the 9 month mark for just 3-4 days during spring break or summer time?

I have been following this thread and would appreciate any info that you could give me.
 
luv2vacation said:
Okay, I have been researching Hilton and thought I understood it a little - you can book EXACTLY what you purchased (unit size, season, full week) at your home resort 12 months out? At 9 months out, you can book at ANY Hilton resort with at least a 3 night minimum, any check-in day? I am reading that you can bank points, too? Can you borrow?

Now, you are talking about HHV and I am again lost - what is that?

I am thinking about EOY 1 BR at HGVC International Dr. - that would give me small points amount (what I'm looking for), MF to be paid only EOY, and smaller amount of MF because it's a 1 BR. Would I still be able to book 2 BR or studio sometimes? Would that get me in at the 9 month mark for just 3-4 days during spring break or summer time?

I have been following this thread and would appreciate any info that you could give me.
Click to expand...
If you want to use a HGVC ownership at 9 months and go to LV or Orlando. It doesn't matter were you buy because you'll almost always be able to book what you want when you want with your points.

The thing about Hawaii (Hilton Hawaiian Village -HHV) is that historically HGVC owners have said they haven't had much trouble using their HGVC at the 9 month mark to reserve a room in Hawaii. That has changed. They are finding very little availablity for Hawaii at 9 months. There is an idea that this maybe due to pre-sales of the 2 newest Hawaii resorts, both of which haven't opened, but who knows. So this may be an on going problem ( no open season Hawaii availablity) or it may go away when the two new resorts open.

Yes, you can bank and borrow pts. But banking and borrowing with an EOY means you have to use the TS in the year you don't have points. Let's say you own an odd year TS. You'd have to bank 2009's pts to 2010 and borrow 2011 pts into 2010. So banking and borrowing with a EOY TS is much more difficult.
 
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