# NC: Foxrun Maint Fee Increase for 2007



## Miss Marty (Sep 20, 2006)

Buyer and Owners Beware:

Foxrun Resort Lake Lure North Carolina 

Plans to increase maintenace fees from 
$440. to approx $600. year in Jan 2007


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## sfwilshire (Sep 20, 2006)

Ouch!

Do all owners pay the same fee? That would be pretty steep for off-season weeks, wouldn't it?

Sheila


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## riverdees05 (Sep 20, 2006)

WOW - $160 increase!  There will be a lot of these on the market if they raise it that much.  I haven't seen anything in their newsletter.


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## Big Matt (Sep 20, 2006)

Actually it's only a $155 increase, but who's counting?


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## riverdees05 (Sep 20, 2006)

Good that is only about a 35% increase.  Does anyone have any of the details on why?


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## sumauri (Sep 20, 2006)

Sheesh, I'm glad we sold our Foxrun week when we did. I think the problem is poor management and an HOA that had accrued absolutely no reserves. Yes, you will see many weeks for sale there in the future if this is true.


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## BocaBum99 (Sep 20, 2006)

Wow, there is definitely going to be a fire sale on Foxrun for the balance of this year.  $600 is very high.


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## bigeyes1 (Sep 20, 2006)

*Like sumauri said...*

I'm also glad we sold our FXR week.  I can't believe the maintenance fees are going up that much.  That's a big increase.   I,too, would like to know why they're going up.


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## Born2Travel (Sep 20, 2006)

*All weeks pay the same fee*

All weeks pay the same fee... so if this is true, I may keep a couple (the better ones) and get rid of the green and white week I own.  We own 4 weeks, so that's quite an increase...  I don't mind so much for the good traders, but for the others... that's waaaay too much.


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## Bucky (Sep 20, 2006)

It's a total increase of $255 over the last three years.  If my math is correct it comes out to about a 75% increase over that time.  At $340 it was a steal.  At $390 still a great deal.  At $440 it was becoming an irritant.  At $595 it's gone.  I think they will see a bunch of units just given back.  Not going to be much of a resale market with these MF.


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## Big Matt (Sep 20, 2006)

Why do you think that people will give the units back?

I'm actually fairly confused by your comments.

My situation is this.  I paid very little for my unit.  I get an AC from II.  So for my maintenance fee I get a week that gets me great trades and an AC.  All in with the new increase I'll pay $595 plus $135 for my trade of my week plus $299 to get a 2 or 3 BR unit with the AC.  My math says that I get two weeks of vacation for about $1000 per year with little of no outlay. 

Why should I give my unit back?



			
				Bucky said:
			
		

> It's a total increase of $255 over the last three years.  If my math is correct it comes out to about a 75% increase over that time.  At $340 it was a steal.  At $390 still a great deal.  At $440 it was becoming an irritant.  At $595 it's gone.  I think they will see a bunch of units just given back.  Not going to be much of a resale market with these MF.


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## somerville (Sep 20, 2006)

A week 25 just sold on eBay for $102.


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## BocaBum99 (Sep 20, 2006)

Big Matt said:
			
		

> Why should I give my unit back?



Because there are better traders out there with maintenance fees less than $600.  It's too late to sell now.


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## itchyfeet (Sep 20, 2006)

I agree with Big Matt.  I'm not happy about the fee increase, but some of the trades I've been able to get plus the AC more than compensate for the fee increase.  It is unfortunate that the BOD chose not to do this in increments - that always makes it a double whammy!


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## Big Matt (Sep 21, 2006)

Do the math for me.  I still don't get it, Boca.

Are you saying that I should:
1) give my unit back
2) pay for another timeshare that trades better and has lower maintenance fees.  I would assume that would include closing costs and transfer fees.

Also, what timeshares trade better than Foxrun and have lower maintenance fees that you can get for less than $1000?

Thanks for your help.





			
				BocaBum99 said:
			
		

> Because there are better traders out there with maintenance fees less than $600.  It's too late to sell now.


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## sumauri (Sep 21, 2006)

Big Matt said:
			
		

> Why do you think that people will give the units back?
> 
> I'm actually fairly confused by your comments.
> 
> ...



It's good that you as an owner at Foxrun feel as you do, but to many owners it's not just the money it's the principle of such as large rise in fees. Many people own Foxrun along with many other weeks so a rise of $160 is substantial when calculating all maintenance fees together. We owned several weeks other than Foxrun before we sold it.

About ACs from II for Foxrun --- we  never used any of our ACs because the grid showed nothing that we would have been remotely interested in.


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## Laurie (Sep 21, 2006)

I traded in last October, and the unit we were assigned needed a total refurbishment - carpet, paint, some furnishings, and rotten kitchen cabinets, not to mention such overwhelming mildew odor in downstairs that we had to keep the door closed, which made me wonder about serious water damage. (I posted at the time because its reputation as a great trader had my expectations way higher. I'd arrived with my checkbook ready to possibly make a purchase, changed my mind.) Sounded like this unit was worse than others TUG people had stayed in, but if they are anticipating redoing many of them, it's a lot of square footage because the units are so large.


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## ondeadlin (Sep 21, 2006)

I own a winter week at Foxrun that I purchased for only closing costs, under $250. 

My first trade with it made the purchase a no-brainer (Foxies get a little touchy about touting trades on TUG, so I'll just say it was high season, not in flexchange, at a resort that would have cost me more than $40,000 to purchase the week from the developer, or $750 a night to book through the resort).

So I could dump my week now and be fine with it. If I had a summer week that got an AC, I'd be inclined to keep it. Two good weeks of vacation in II out of $600 MF is pretty solid IMHO. (And if you're not finding anything you can use with your ACs, you need to talk to someone from TUG who'll help you do so, there's tons of good stuff out there).

While I'm not happy about the increase, the surprise unveiling of this move is much more disturbing. Any board contemplating more than a 10 percent MF, IMHO, should at least explain why before doing so.

I've expressed my feelings via e-mail to board members and suggest others do the same.


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## CMF (Sep 21, 2006)

*Can the FXR Board Undo the MF Increase?*

Is anyone aware of a board that has rescinded their decision to increase MF?  Is this a done deal or do owners have alternatives?  [Other than selling or dumping their weeks]


Charles


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## timeos2 (Sep 21, 2006)

*Quality and low fees don't last*



			
				CMF said:
			
		

> Is anyone aware of a board that has rescinded their decision to increase MF?  Is this a done deal of do owners have alternatives?  [Other than selling or dumping their weeks]
> 
> 
> Charles



By the time an increase is voted on and approved the opportunities to lower it have already been considered.  It is highly unlikely any resort would ever choose to "roll back" an announced fee level. 

As for the fees themselves no resort is getting newer.  It is highly likely that most will need major work over the next 5 years even if they are brand new today (most aren't).  Regardless of what someone may have paid to buy in if the property is going to have a value to owners or traders (see the message above regarding conditions) fees must be raised to the level required to fund the work.  It's not a conspiracy. It's simple economics. You own property. The property needs work. The work costs money. The money has to come from the owners. I worry far more about the resort that doesn't raise fees to reasonable levels as that resort is most likely in a death spiral or will face a hefty (some recent number are in the $1200+ range per week!) special assessment that is far worse than a steady, sustainable rise in fees to proper  levels.  

It will become harder and harder to find high value, low fee resorts as the reality of maintenance expenses become clear. Those that have kept fees down by shortchanging reserves have only delayed the payment not avoided it. It will eventually lead to higher cost to complete the work and more consternation from owners facing rising fees and special assessments.  Nothing is free.


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## gmarine (Sep 21, 2006)

What is the reason the resort is giving for such a large increase?


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## chris5 (Sep 21, 2006)

Big Matt said:
			
		

> Why do you think that people will give the units back?
> 
> I'm actually fairly confused by your comments.
> 
> ...



Actually, around 4 years ago, a number of units were offered "free" at Foxrun, subject to payment of transaction/closing costs.  As I recall, the free units became available as a result of several owners dumping their weeks because of increased maintenance fees and a special assessment. I was almost about to take a free week 14, which I think is prime season, for that neck of the woods.  Anyway, I thought long and hard and decided not to take the week -- I figured if I ever wanted to go to Foxrun, I could get into the resort with an AC in early Spring, instead of incurring annual maintenance fees.  Getting something "free" or very cheap is enticing. Back then, I'm not sure I made the right move, especially after hearing about the great trades people get from Foxrun.  But if offered another free week, I'm now sure I wouldn't even blink any eye in turning it down.


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## geekette (Sep 21, 2006)

timeos2 said:
			
		

> By the time an increase is voted on and approved the opportunities to lower it have already been considered.  It is highly unlikely any resort would ever choose to "roll back" an announced fee level.
> 
> As for the fees themselves no resort is getting newer.  It is highly likely that most will need major work over the next 5 years even if they are brand new today (most aren't).  Regardless of what someone may have paid to buy in if the property is going to have a value to owners or traders (see the message above regarding conditions) fees must be raised to the level required to fund the work.  It's not a conspiracy. It's simple economics. You own property. The property needs work. The work costs money. The money has to come from the owners. I worry far more about the resort that doesn't raise fees to reasonable levels as that resort is most likely in a death spiral or will face a hefty (some recent number are in the $1200+ range per week!) special assessment that is far worse than a steady, sustainable rise in fees to proper  levels.
> 
> It will become harder and harder to find high value, low fee resorts as the reality of maintenance expenses become clear. Those that have kept fees down by shortchanging reserves have only delayed the payment not avoided it. It will eventually lead to higher cost to complete the work and more consternation from owners facing rising fees and special assessments.  Nothing is free.




You're right.  Darned economics.

Sounds like they have been raising annually for the last several years, so it certainly could have been worse.  

How old is this property?


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## CMF (Sep 22, 2006)

*It's all about the money.*



			
				geekette said:
			
		

> You're right.  Darned economics.



I agree with John that an owner should not resent the expense of maintaining their property. But, what I've been learning on TUG is that the majority of TS owners do not view their weeks as property.  Owners view their weeks more like stock.  If it does not make economic sense then sell. 

I venture to guess that most FXR owners do not spend time at their resort.  So, they are less likely to care about the state of the property.  Their main concern is the trade power that their weeks give them.  

My hope is that improvements to the property will up the trading value.  And, that Boca is wrong when he says that there are cheaper, better traders.

I paid my MF for 2007 early so I won't feel the hit all at once. I have a year to think about selling my week before the 2008 MF is due.

Charles


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## sumauri (Sep 22, 2006)

timeos2 said:
			
		

> Regardless of what someone may have paid to buy in if the property is going to have a value to owners or traders (see the message above regarding conditions) fees must be raised to the level required to fund the work.  It's not a conspiracy. It's simple economics.



That may be true for other resorts that need work but Foxrun in 2000 charged a special assessment to all owners for $500 over a 3 year period added on to maintenance fees. That should have taken care of much of the needed work and should also have been enough to put some of that money aside in reserves for future improvements. I honestly do not believe that the Foxrun HOA or management has used good judgement. Also many people bought ino Foxrun when the weeks were a good deal but they are now paying the price.


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## Carol C (Sep 22, 2006)

itchyfeet said:
			
		

> I agree with Big Matt.  I'm not happy about the fee increase, but some of the trades I've been able to get plus the AC more than compensate for the fee increase.  It is unfortunate that the BOD chose not to do this in increments - that always makes it a double whammy!



They *have* been doing it in increments. Maybe you haven't owned long enough to have paid part of the $500 special assessment...I paid $167 of that. Plus a $50 annual fee hike the next year, and another $50 hike the year after that. Then a break...no maint fee hike the following year. But now, a $135 maint fee hike to make up for lost time and revenues. To my mind, that's as incremental as you can get!


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## Miss Marty (Sep 23, 2006)

*Foxrun*

*
Foxrun Week 25 *

E-Bay Auction - Item Number -  260031296701
Prime Summer week - Recently Sold for $102.50

Imagine Foxrun HOA buying back summer weeks at these low
prices and reselling them for thousands of $ dollars next year

Imagine Foxrun HOA charging $100 - $200 transfee fee 
No one would ever want to purchase or take your week

Looks like Foxrun members needs to vote for charges
Example:  New Board Members and New Management 

Foxrun HOA should consider and be looking for a new 
Management Co. when this contract with VRI expires

Suggestion:
Maybe the Foxrun Yahoo Group 
should be open to the "public"
Just to keep everyone up to date

Owners and future/prospected owners 
should been more involved in their HOA

Its not just about "activities & good trades"
Its more about would you stay at this resort
Would you recommend your resort to 
your friends or family members?

Keeping a timeshare resort in tip top shape  
Keeps owners & guests wanting to come back

Foxrun Owners should be proud owners 
they have location - location - location


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## timeos2 (Sep 23, 2006)

*Owning to trade is one issue*



			
				Marty Giggard said:
			
		

> *
> Foxrun Week 25 *
> Looks like Foxrun members needs to vote for charges
> Example:  New Board Members and New Management
> ...



I'm taking a guess here but it seems like this resort might have unwittingly become a haven for trade owners rather than use owners.  Thats a bad situation as the trade people don't care about the resorts they own as long as it's cheap and gets what they want in exchange. They buy cheap and want fees to stay low. They may bail if they feel the value for trade is dropping either from what they get or because of rising costs. They aren't going to be active in resort operations and will tend to largely bad mouth their own resort, Board and Management should fees go up (and where don't they?). 

Resorts that have mostly use owners tend to have a group willing to become involved and watch over the property. They are more like home owners or whole ownership condo buyers.  They learn what it takes to operate a timeshare resort and how to keep it up. They tend to be defensive (sometimes overly so) about the property and want it to improve. It creates a much better environment for success and stable fees with a solid base of long term and committed owners.  

While I have nothing against trading timeshares as a concept owning a resort only for trade has too many downsides not only for the owner but the resorts themselves. Used as intended - trade maybe 1 in 3 or 4 years use the rest - ownership can be rewarding and you feel a part of the resort rather than an outsider with a deed to a week somewhere.


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## sumauri (Sep 23, 2006)

Marty Giggard said:
			
		

> *
> Foxrun Week 25 *
> 
> Its not just about "activities & good trades"
> ...



Although Foxrun is in a beautiful rural location, there's not that much to do there especially for an entire week unless you're a golfer. It IS a good place for rest and relaxation and it's not that far from Asheville. Hoiwever, none of the units are on/or facing Lake Lure. You have to walk or drive down to the lake.

I think many people bought there for trading purposes.


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## Carolinian (Sep 23, 2006)

Any competent HOA is going to have a professional reserve study done and then factor into the budget every year the amount needed to maintain reserves.  The reality is that a lot of HOA's don't seem to do that, particularly those with the developer still in control.  If a resort sets proper reserve amounts and then cranks them into the budget every year, then merely getting older should not lead to special assessments.  Those expenses would already be accounted for in the reserve study and the m/f that includes the amount identified in that study.

I have also seen too often that if income is not up to expected levels, it too often is made up for by money not placed into reserves.  If this happens year after year, it can get a resort in trouble.

One savings that can be made is to self manage.  Management companies typically add 10-15% of actual costs as their fees.  That is an avoidable expense.  I have seen some management companies do some very questionable contracting with related companies, that also ups the costs a lot for a resort.  Self management may be beyond some resorts, so it is not a solution for all.  If your resort goes with a management company, check them out thoroughly, as some are much better than others.  Self management is probably more feasible for small resorts than larger ones.







			
				timeos2 said:
			
		

> By the time an increase is voted on and approved the opportunities to lower it have already been considered.  It is highly unlikely any resort would ever choose to "roll back" an announced fee level.
> 
> As for the fees themselves no resort is getting newer.  It is highly likely that most will need major work over the next 5 years even if they are brand new today (most aren't).  Regardless of what someone may have paid to buy in if the property is going to have a value to owners or traders (see the message above regarding conditions) fees must be raised to the level required to fund the work.  It's not a conspiracy. It's simple economics. You own property. The property needs work. The work costs money. The money has to come from the owners. I worry far more about the resort that doesn't raise fees to reasonable levels as that resort is most likely in a death spiral or will face a hefty (some recent number are in the $1200+ range per week!) special assessment that is far worse than a steady, sustainable rise in fees to proper  levels.
> 
> It will become harder and harder to find high value, low fee resorts as the reality of maintenance expenses become clear. Those that have kept fees down by shortchanging reserves have only delayed the payment not avoided it. It will eventually lead to higher cost to complete the work and more consternation from owners facing rising fees and special assessments.  Nothing is free.


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## Carol C (Sep 23, 2006)

Marty...Au contraire, location location location is not a factor. Boring boring boring is the name of the game. This is *not* a destination resort. Not even if you golf. I've stayed there twice and don't care to return...you quickly do everything there is to do within a 40 min drive.

Also you mention changing management. This is not possible, because the board extended VRI's mgmt contract an additional ten years...and this happened while there was still two years to go on the contract at the time. The board secretary even said he was worried that new elected board members might not want to retain VRI, so he wanted to have a vote to extend their contract even though it was not yet time to do so. (I know this because I was there at that meeting and was quite shocked at this M.O.)

John Chase...Most people bought to trade. I bought to use and trade, but primarily to use, or so I thought. But even though I love western NC and it's a 3.5 hr drive for me, it's really boring. How many times does one need to visit Chimney Rock or the Biltmore mansion an hour away in Asheville?

Carolinian...You're correct, the mgmt company gets a tidy sum percentage-wise, for mgmt fees. Makes one wonder whether there's any reason to keep fees in line, when there's money to be made by raising them. 

One last thing, for those speculating about reserves...we're hoping to have a look at the current and past one or two  operating budgets, to try to determine just how much $ went to the lawsuit the board launched and lost. A lengthy, ill-advised legal battle can quickly eat up reserves.


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## Detailor (Sep 24, 2006)

I think about Foxrun from the point of view that expectations have changed for owners, exchangers and the Board over the past five or six years.  And that these expectations have created a greater urgency to improve the general condition of the resort.  
From information that I've heard I believe that Foxrun was a nice resort primarily used by owners and with little exchange activity going on.  II began awarding ACs to owners who deposited with them and rated the resort fairly highly presumably because they (II) couldn't satisfy the demand for that area of North Carolina.
In the early 2000s, Foxrun became known as a low cost option to own that traded nicely into some fairly upscale resorts so people began to buy Foxrun to use as a solid trader property.  While I think that many of those new owners have used Foxrun exclusively as a trader, several new owners report that they have visited.  I'd be cautious about describing the preponderance of owners as only using the resort as a trader, though, as this new breed of Foxrun owners is most likely still in the minority of the ownership population.  These new owners, mixed with some of the longer term owners, started the Yahoo Foxrun group where the clear focus has been on trades.
With more Foxrun availability in II inventory over the past four or five years, it is hardly surprising that the resort is viewed through the lenses of timesharers who expect more from the TS experience.  Note Carol C's comment that there isn't much to do in the area which suggests that people will tend to remain on property and determine 'value' based on their on-site experience more than what they can see and do in the area of the resort.  
So I don't think its surprising that the resort is looking into building reserves and to presumably concentrate on upgrading facilities both inside and outside of the villas.  The unfortunate consequence for owners is they're continuing to see increased MFs and now have to consider whether Foxrun represents the 'value' for the purpose that they purchased at the resort to begin with.

Dick Taylor


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## sumauri (Sep 24, 2006)

Detailor said:
			
		

> I don't think its surprising that the resort is looking into building reserves and to presumably concentrate on upgrading facilities both inside and outside of the villas.  The unfortunate consequence for owners is they're continuing to see increased MFs and now have to consider whether Foxrun represents the 'value' for the purpose that they purchased at the resort to begin with.Dick Taylor



They were supposed to be concentrating on upgrading facilities when they charged owners a $500 special assessment (in 3 year increments) a few years ago and then raising maintenace fees $50 for 2 or 3 years in a row.

To me it boils down to bad management and an HOA evidently ruled by the management company. It also seems to me that they are taking advantage of all the new owners that have bought there in the last several years.


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## susang (Sep 26, 2006)

*wanting to join the yahoo group*

I own 2 weeks at Foxrun and sent an email about joining the yahoo chat group. How do I go about becoming a member of that forum? Since I just purchased a few weeks ago I thought it might be nice to get "up to speed" on their new policies such as MF increases.


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## BarCol (Sep 26, 2006)

Susang...you have mail....:whoopie:


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## tashamen (Sep 27, 2006)

Carol C said:
			
		

> Marty...Au contraire, location location location is not a factor. Boring boring boring is the name of the game. This is *not* a destination resort. Not even if you golf. I've stayed there twice and don't care to return...you quickly do everything there is to do within a 40 min drive.



Thank you for saying this - I have always wondered what on earth the appeal of this resort might be.  I think I have my answer.  (But why did you go therre twice? LOL)


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## mamiecarter (Sep 27, 2006)

*Time to demand an independant outside audit*

If I owned a unit there I would be screaming for an independant audit to see where the money really goes.


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## BocaBum99 (Sep 27, 2006)

mamiecarter said:
			
		

> If I owned a unit there I would be screaming for an independant audit to see where the money really goes.



Yeah, and the cost of the audit would increase MF the next year by $50/interval.  LOL.


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## mamiecarter (Sep 27, 2006)

*Only if you really need one*

Audits are not that expensive. I know from condo experience. If something funny really is going on the billable hours can mount up but it is still cheaper than someone with their hand in the till running wild. 

Does anyone think timeshare resorts are less vulnreable to financhal hanky-panky than condos? I think timeshares are more exposed to that kind of risk than co-ops and condos because the unit owners are around less to see what goes on.


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## BarCol (Sep 27, 2006)

With all the slagging going on on this board about the resort, let's get one thing clear - there are a number of owners - like us - that enjoy this resort and will go back again and again. I think it depends on what you want to do on a holiday..visit around (yes even to Biltmore more than once), do some hiking, kick back and relax, play golf, hang out at the pool.  This resort is good for all of those. Not everyone has to be active 24/7...and we're not over the hill, in case anyone thinks we are.  Trade power is also not guaranteed by anyone which is why one should buy where one wants to go.

Am I ticked about the maintenance fee increase - yes, do I want some answers - yes, should there have been better communciations between the board and members and a reserve fund study - yes definitely, but am I am ready burn the Board - no and I'm not going to be slagging a resort if I've never been there, if I don't own there and if the discussion descends into wild conjectures about the situation.  Just my $.02 worth -  but remember that when something like this happens, it's all timeshare owners that feel the pain...one way or the other.


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## littlestar (Sep 27, 2006)

My sister was just talking the other day about how much she loves the mountains and peace and quiet (she has a very high stress job). And if you let her play golf and fish, too, she's in heaven. She hates any vacation where she has to be on the go. Especially theme parks.

The mountains would be an ideal summer vacation for us when we want to relax. In the winter/late fall/early spring I like to go to Orlando. But in the summer, I don't want any part of Orlando. We're in the process of buying a summer week at Lake Lure. I plan to use it and trade it some.

One of the prettiest valleys I've ever seen in my life is in North Carolina - there's a little white church in this valley called "Payne's Chapel" and along with the north shore of Kauai, these two places are etched in my mind as the most beautiful places I've ever seen.


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## Carol C (Sep 27, 2006)

tashamen said:
			
		

> Thank you for saying this - I have always wondered what on earth the appeal of this resort might be.  I think I have my answer.  (But why did you go therre twice? LOL)



I'm a tree-hugger.


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## rickandcindy23 (Oct 6, 2006)

Considering the fact that we pay $1,022 for our three bedroom on Kauai and $822 and $979 for our two bedroom units we own on Kauai, I find Foxrun a bargain.  I can trade into Maui and Kauai with Foxrun and rent my Kauai weeks on various sites and turn a tidy profit.  

I love Foxrun as a trader, though I have never been to the resort.  Does it pull everything?  No way.  It has actually lost considerable trade power, a fact that many Foxrun owners do not want to admit.  I used to pull more Five Stars with our week, but a few months ago that changed.  I was disappointed, but it still pulls better than my two bedroom in Winter Park, CO.  That may change in the future, but for now, I am happy with my purchase of Foxrun.

You rarely see strong traders with maintenance fees under $600.  Another bonus is the fact that it trades with II, a savings over RCI's exchange fees of $30.  I love the AC and used it recently.  

So many are quick to blame the management company and that is just plain unfair.  VRI is a good company that manages many quality resorts.  I don't know why a person that no longer owns at Foxrun would be so critical of the increase.  Samauri has stated that she no longer owns timeshares, did own at Foxrun at one time and is glad she sold it and also used to own at Orange Lake.  I believe she lives in North Carolina, near Foxrun, having purchased a house after falling in love with the area.   Orange Lake is a resort she believes is one of the best, I read her posts on OLCC, yet those maintenance fees are higher than the current $550 at Foxrun.  Foxrun has lower maintenance fees than most Orlando resorts and I get an AC for it.  That gives me two vacations for $935.  I think that is a pretty great thing.  

Some people want others to doubt what they own because it makes them feel better to make others feel badly.  Foxrun is a great resort and the fees are pretty reasonable for the trades we can get.  That is the bottom line.


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## carolina girl (Oct 9, 2006)

*Increase @ Fox Run, NC Help!*

I have 2 weeks at FR in Dec and I know I cannot afford the increase to 600/wk at one whack.  So what to do?  I recently went to a Fairfield and they nicely offerred to take my 2 weeks @ 2K/wk and roll all my points together for 16k.  That would have been 20K for 154K points.   Too much money.  Now I've got to make a decision whether to give the weeks up or keep trying to sell them.  Can anyone give me some ideas on how to dispose of these weeks without just a total wash?  Also, the Fairfield rep told me that you can take your maint fees off of your income tax as a second home expense.  Is that true?  Thanks from NC.


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## rickandcindy23 (Oct 9, 2006)

Carolina Girl, I don't think you can deduct HOA dues, only the property tax part of the dues, which isn't much. 

I think the new maintenance fees are only $550, don't quote me on that.   

You can possibly list on Yahoo Foxrun Usergroup for free and hope someone will take your weeks, or you could call Clark Kessel at Lake Lure Realty to see if he can help you sell.  If you are willing to take very little for them, you can list them on redweek and myresortnetwork for cheap prices.  Vacationtimesharerentals.com is a great site that is free to list.  You can transfer the deed via Quitclaim, it is actually pretty easy to do in North Carolina.  The county is very helpful in guiding people through that process.


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## carolina girl (Oct 13, 2006)

*Fox run and fee increase*

Thanks for the comments to my post.  I have 2 weeks left in this year that I have to use lose or bank.   Since I plan to sell or give away my deeds should I use them as incentive for a prospective "buyer"?  Mr. Kessel said they are overloaded with weeks that won't sell and pretty much told me I was on my own.  This is similar to what I heard 2 years ago when I tried to rent out my weeks thru VRI. So...any advice for someone who feels totally helpless and knows very little about listing, much less selling a timeshare unit?


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## Miss Marty (Nov 17, 2006)

*Whats new on the Foxrun scene*

Foxrun Yahoo Group 

Just 29 posts so far in November compared to 205 in October


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## Big Matt (Nov 19, 2006)

People came back off the ledge when all the facts were disclosed.  I'm sure there will be more activity when there is more information about the special assessment.





			
				Marty Giggard said:
			
		

> Foxrun Yahoo Group
> 
> Just 29 posts so far in November compared to 205 in October


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## Emily (Nov 20, 2006)

Marty Giggard said:
			
		

> Foxrun Yahoo Group
> 
> Just 29 posts so far in November compared to 205 in October




If you look at the last year, post are dependant on may things, vacation planning, sitings, new member info & purchases, maintenace fees.  In Feb and Aug the posts were 221 & 226, while in May there were 53.  None of those months had anything to do with the OP topic.

Granted some of the posts in October were directed toward the possibility of a special assessment.  But not all . .mine were trying to get the info I needed to make a purchase


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## short (Nov 20, 2006)

*Ask for a copy of the last Financial Statement*



			
				mamiecarter said:
			
		

> If I owned a unit there I would be screaming for an independant audit to see where the money really goes.



I would expect they already have an independant audit or review financial statement.  Owners generally have a right to receive a copy if requested.  Most HOA's and Management co do not routinely send out copies to owners unless requested because most owners have no idea how to read them anyway.

Call VRI and ask for a copy of the last financial statement.

Short


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## riverdees05 (Nov 20, 2006)

2007 for a two bedroom, FoxDen:

Opeating Costs  389.85
Property Taxes    17.29
Reserves           142.86

TOTAL              550.00


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