# Updates on Christmas Mountain Special Assessments



## brucecz (Oct 22, 2012)

Updates on Christmas Mountain Special Assessments

This morning I was told that Special Assessment  billings are SUPPOSEDLY to be mailed out in November of 2012 and first Special Assessments Payments are SUPPOSEDLY due by January 15, 2013.

Payments are as follows for the various Christmas Mountain ownerships as shown below.

These prices are for only "Pure DEEDED  UDI's and not blended UDI's as I was not able to confirm with owner services this morning but will update this string asap when I was NOT able to get the correct information that BG Corporate UNFORTUNATELY HAS NOT seen fit to supply the needed correct information to both the BG phone people like Carol  and the BG owner service people like Linda.

 I spent a total of over 49 minutes with these 2 ladies this morning in regards to Blended UDI's and CMV Timbers Points

UDI Cottage Christmas Mountain Special Assessments is  $3,096 and can be paid  in full on January 15, 2013  or in 3 equal payments of $1,032 paid over 3 years.

UDI Oak Timbers Christmas Mountain Special Assessments is  $2,485 and can be paid  in full on January 15, 2013  or in 3 equal payments of $828 paid over 3 years.

DEEDED VILLAS  and CABINS  Mountain Special Assessments for each week owned is  $1,314  and can be paid  in full on January 15, 2013  or in 3 equal payments of $435 paid over 3 years.

Bruce


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## BigRedOne (Oct 23, 2012)

Wow, thats like buying into another TS!


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## Timeshare Von (Oct 23, 2012)

Ouch!  Those are pretty steep.

I'm curious why the lofty SA's?


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## Timeshare Von (Nov 22, 2012)

I just did a private rental from an owner here, checking in on Friday.  I'm very anxious to see the state of affairs that require SA's over $3,000 (UDI cottages)


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## Timeshare Von (Nov 24, 2012)

Timeshare Von said:


> I just did a private rental from an owner here, checking in on Friday.  I'm very anxious to see the state of affairs that require SA's over $3,000 (UDI cottages)



Ok so we checked in last night, into a cottage (the 2BR/1bath configuration).  It is nice, cozy and generally in good shape.

I did read in their online newsletter that they are in need of the funds for general updating given "the age of the units".  They state that they will be updating/replacing appliances, furniture, electronics and painting the exteriors.  They also state that there are mold/mildew issues as well as some code compliance (ADA) to be addressed.

Here is the link to the newsletter with more info.  This is just one of the various HOA/POA's operating at Christmas Mountain.  Their SA is the $3,093 over three years.

The Villas Association is only assessing $1,304 for the three year period.  Here is the link to their newsletter, which has the same basic explanation as to the rationale for the SA.

Having paid SAs at four of the five TSs we've owned over time, this is by far the steepest I've ever heard of.  I really feel for the owners here and wonder what could have been done to prevent such a large financial hit on folks, especially at a time when the economy is so soft.

Too bad some stimulus money wasn't available to help out with the work needed at this resort.


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## brucecz (Nov 24, 2012)

Timeshare Von said:


> Ok so we checked in last night, into a cottage (the 2BR/1bath configuration).  It is nice, cozy and generally in good shape.
> 
> I did read in their online newsletter that they are in need of the funds for general updating given "the age of the units".  They state that they will be updating/replacing appliances, furniture, electronics and painting the exteriors.  They also state that there are mold/mildew issues as well as some code compliance (ADA) to be addressed.
> 
> ...




Von, haven't you heard what Diamond resorts did to their owners in Hawaii;? Google Diamond resorts in Hawaii.  

What the main difference is  the Villas and Cabins which  we also belong to  are both in the  Villa Association only get one week per year at $1,314 were the UDI' Special Assessments costs were based on 3 reservations per year per one UDI ownership. 

For comparison to a UDI  Timbers what is the total yearly cost your 5 yearly maintenace fees at your 5 ownerships?   What were the closing cost total for your 5 ownerships.

If UDI Timbers owner  at the present time is getting 10 reservations per year their costs average less than $175 per reservation counting maintenance fees and housekeeping fees. 

 But as per many owner postings the UDI Cottage a  pure UDI Timbers 2 bedroom 2 bathroom unit can get 10 or more reservations per year.  

If you owned 10 yearly 2 bedroom weeks at other resorts your bill would be most likely pay about $6,000 or more per year EVERY YEAR for maintenace fees.     The projected yearly UDI Timbers savings based on 10 yearly reservations in comparison would be over $4,000 per year.  Also with one UDI you only have one closing cost but if you buy 10 weeks at other timeshares you would have 10 closing costs.

  If you take the $2,485 special assessment and divide that by 10 reservations per year that equals $248.50 per reservation for a UDI Timbers spread out over 1 year.  Or if spread out over 30 reservations for 3 years that would be a average of about under $83. per reservation.

IMHO my common sense tells me after the upgrades are done these will become more valuable.  Even if the economy  does  not improve these types of UDI ownerships offer the best long term value in timesharing that I know of even with the Special Assessment.

If I was not 69 and having a few health concerns I would expand our UDI ownerships instead of  eventuality reducing them down to 2 or 3 of them.  WE are sort of lucky in being maybe being  the first on this and other sites to post about the CMV UDI's and owning them for about 13 years.

IMHO  even if the Special Assessments cut into our rental profits for this and last year we still believe in the long term  value of the rarer Timbers UDI for rentals, exchanges and for staying at CMV with free golf and ski lift privileges.

Bruce


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## JudyS (Nov 24, 2012)

As Bruce noted, the UDI Cottage and UDI Oak Timbers ownerships at Christmas Mountain Village are actually "fractional" ownerships of three weeks a year, not single weeks. There are 17 owners per UDI (instead of having 50 to 52 owners per condo like at a single-week timeshare.) So, the special assessment for the Cottages works out to about $1000 for each week of ownership, and the resort is assessing around $52,000 total to renovate each Cottage. The SA of $2485 per Oak Timbers UDI works out to $42,245 per condo. The Oak Timbers are newer than the Cottages, which is probably why they cost a little less to renovate. 

The Villas and Cabins at Christmas Mountain Village are regular single-week ownerships, not fractional ownerships with multiple weeks. So, the Special Assessment of $1,314 works out to $67,014 total to renovate each cabin or Villa unit (assuming 51 weeks were sold per condo -- I'm not sure exactly how many weeks were sold per Cabin or Villa.) The Villas and Cabins are larger than the Cottages, which is probably why they cost more to renovate than a Cottage does. 

So the Special Assessment works out to around $42,000 to $67,000 per condo, depending on the size and age of each condo type. This isn't really out-of-line for a major overhaul. However, not all owners think a major overhaul is necessary. Also, UDI Cottage owners haven't been given a complete accounting of what they will get for their money. In particular, we haven't been given information on new furnishings and on what exterior repairs will be made. (We have been given detailed information on interior repairs only.) 

As Bruce noted, it is possible for a UDI owner to get many more than 3 weeks per year out of one ownership. This is because the UDIs have unusual booking rules allowing owners to have three reservations *at one time * rather than three reservations *per year*. (Owners are also allowed to book a fourth, last-minute reservation, but space isn't always available at the last minute.) A lot of UDI owners only go once or twice a year, leaving extra weeks available for other UDI owners who want a lot of weeks. So, UDI ownerships work very well for savvy owners, like the ones here at TUG, who want to deposit lots of weeks into exchange companies or want to rent out a lot of weeks. 

I own two Cottage UDIs and have mixed feelings about the Special Assessment. If it's spent wisely then I think I will get good value out of it, because (like Bruce) I get about 10 weeks out of each UDI. However, I want a fuller accounting of where the money will go. 

I got my first UDI before I heard about the Special Assessment, and I initially suffered "sticker shock" when I heard the probable amount. However, I was happy enough with my first UDI that I then went and got another one, even knowing that a Special Assessment was pending.


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## brucecz (Nov 24, 2012)

JudyS said:


> As Bruce noted, the UDI Cottage and UDI Oak Timbers ownerships at Christmas Mountain Village are actually "fractional" ownerships of three weeks a year, not single weeks. There are 17 owners per UDI (instead of having 50 to 52 owners per condo like at a single-week timeshare.) So, the special assessment for the Cottages works out to about $1000 for each week of ownership, and the resort is assessing around $52,000 total to renovate each Cottage. The SA of $2485 per Oak Timbers UDI works out to $42,245 per condo. The Oak Timbers are newer than the Cottages, which is probably why they cost a little less to renovate.
> 
> The Villas and Cabins at Christmas Mountain Village are regular single-week ownerships, not fractional ownerships with multiple weeks. So, the Special Assessment of $1,314 works out to $67,014 total to renovate each cabin or Villa unit (assuming 51 weeks were sold per condo -- I'm not sure exactly how many weeks were sold per Cabin or Villa.) The Villas and Cabins are larger than the Cottages, which is probably why they cost more to renovate than a Cottage does.
> 
> ...



you are correct and that 4th reservation can be made up 45 days before its check in date.  But you can also do stuff to make those 45 dayers more  usrable and valueable.

Bruce


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## Timeshare Von (Nov 25, 2012)

Thanks Bruce & Judy for the further education on the CM UDI's.  I wasn't aware that they aren't like other more traditional UDI's (like my Wyndham Myrtle Beach).

As for my costs on the five TS's I've owned over time, only one was bought retail from the developer . . . all the others were either given to me free or bought at a low cost with little to no closing costs.  I think the MF's of the four I owned at the same time traded within RCI as five and our MFs were $2,200/year and often (pre-TPU) we were able to get 2BR Hawaii exchanges for the 1BR lockoff side for what worked out for about $450 (MF + RCI exchange) so I get the value side of things.

I understand what you're saying though, if someone buys retail or even resale and have other costs incurred on top of that.  

Good to know your UDI's a CM are high value ownerships.  I sincerely appreciate the follow-up responses after I posted what I "learned" from their POA/HOA newsletters.


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## brucecz (Nov 25, 2012)

Timeshare Von said:


> Thanks Bruce & Judy for the further education on the CM UDI's.  I wasn't aware that they aren't like other more traditional UDI's (like my Wyndham Myrtle Beach).
> 
> As for my costs on the five TS's I've owned over time, only one was bought retail from the developer . . . all the others were either given to me free or bought at a low cost with little to no closing costs.  I think the MF's of the four I owned at the same time traded within RCI as five and our MFs were $2,200/year and often (pre-TPU) we were able to get 2BR Hawaii exchanges for the 1BR lockoff side for what worked out for about $450 (MF + RCI exchange) so I get the value side of things.
> 
> ...


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## Timeshare Von (Nov 25, 2012)

brucecz said:


> If all of your 5 ownerships are 2 bedrooms and if your present yearly MF's average only $440 they give you very good value at a average of only $440 per ownership.



What I've owned over time (since about 1981) has been a bit of a hodge podge:

1981-2001 RTU 2BR Floating White Split Rock
2001-2011 3 BR Fixed Wk Lock Off Kingsgate
2004-2011 2 BR Fixed Wk Flagstaff
2003-present ST/1BR floating Wk Lifetime in Hawaii
2006(?)-present 77k Wyndham Westwinds

With just the last two currently in my personal "inventory" they really work well for me/us at this point in our lives.  We can do all of the places we like (Kingsgate, Flagstaff, Alexandria/DC) with the Wyndham points.  The Hawaii week is low MF with great perks (Waikiki w/ free parking!) and the TPU:MF ratio exceptional.

My post was really trying to understand why the high SA at Christmas Mountain.  My first post (#3) even pondered why the high SA.  Like I said, good to better understand that owning at CM isn't actually "a week of TS" so the higher than typical SA makes more sense.

If I were in the market for another TS or if we skied maybe it would be worth looking into.  I am curious however, do owners get to golf here for free, whether or not they are guests staying here?  My DH would be interested in that benefit, especially since we're less than 2 hrs from CM.

Thanks again!


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## brucecz (Nov 25, 2012)

Timeshare Von said:


> What I've owned over time (since about 1981) has been a bit of a hodge podge:
> 
> 1981-2001 RTU 2BR Floating White Split Rock
> 2001-2011 3 BR Fixed Wk Lock Off Kingsgate
> ...



Von, we love exchanging into places like the Marriotts and other high end resorts for our total prorated costs  $400 to $550 less than the owners maintenace fees.

Only present owners of the Timbers get those perks but not their guests, renters etc or UDI Cottage owners or any other CMV owners get those perks.

The last and only Blended CMV UDI Timbers I sold through Pinnacale a couple years ago and all of those perks did transfer.  But the is the last UDI Timbers I have sold.  I will have some updating  done by this week end.

Bruce


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