CCHE, Reply to e.bram posting.
Palmtree:
How about the fact that except for weeks 25 thru 34 the TS units are now and will be even more less than worthless with the SA. What else do you need to know, am I missing something? What are that FACTS that counter this? You could get them for nothing on Ebay before the SA was announced.(however, not the prime weeks 25 thru 34). Why put good money after bad.My Oceancliff is still worth the same nothing it was before the $2200.00 SA.(and Newport is less seasonal than Cape Cod) These are the FACTS. IMHO there is nothing wrong with spreading the facts.
e.bram,
OK, we now have an honest difference of opinion, as to your strong feeling that CCHE owners should "bail", and refuse to pay their S.A. and M.F.'s, and instead, do nothing, or try to give their unit interest away on EBAY, etc. for peanuts, or for zero return.
I hope you will respect my opposing view, that nothing is gained for the unit owner by doing so. To do the above, as you suggest, leaves the owner in a position of being delinquent, forfeiting their usage rights, their exchange options,
their opportunity to rent the usage week, gifting it to family members, or friends, and then, the owner will be subject to lien or foreclosure action that shall inevitably occur, affecting their credit history, significantly.
Your view is that by "bailing", this will make more sense, in that the unit owner will save about $400 per year for 5 years in S.A.payments, plus annual M.F.'s. even though the owner's vacation property will certainly be greatly enhanced in amenities, exchange trading power, rental value, and personal vacation enjoyment, once the renovation improvements are completed
We can surely agree that the T/S market at this time is depressed, but we do not know at this time what the market will be 3 or 5 years from now. It is, of course, possible that by maintaining ownership now, the value of T/S units will rebound. But, by forfeiting ownership interest now, owners do lose this potential future opportunity.
And yes, of course, I am an owner at
CCHE, and have been for over 25 years.
In my opinion, CCHE is the premier Resort on Cape Cod, and, I am quite concerned that your stated views, as a non-owner, will unduly and negatively affect the decisions made by some of our fellow owners, in this regard.
By an owner "bailing", as you have recommended, the Resort will then either rent the improved unit, or sell the unit, with the proceeds being deposited in the Resorts General Fund, and applied towards its common expenses.
I hope we can agree to disagree, with mutual respect, and with the best interests of the affected CCHE owners in mind.
Sincerely,
Palmtree
