# South Shore Lake Resort (Hot Springs, AR) For Free,  By Resort



## cherokee_villager (Jul 13, 2006)

As a resident of Arkansas, I came across an week 5 (a wee bit cold sometimes in February) 2 bedroom ebay listing for the above named resort on Lake Hamilton in Hot Springs. The low mf/tax of $360 seemed reasonable, so I placed an initial bid of $2.50, which turned out to be the highest bid.

Their website offers to sell foreclosed units for the cost of the mf.
http://www.southshorelakeresort.com/pmwiki.php/Main/HomePage

I checked the reviews on *TUG* and *RCI*, and they have been well received. Its not the Vegas amenities, but the quiet amenities associated with rural lake resorts. It was updated in 2005. TUG still list it as Gold Crown, while RCI does not.

Apparently this Arkansas property has not been too popular with the ts masses, and I am wondering if anyone has any comments regarding this very cheap acquisition


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## rapmarks (Jul 13, 2006)

Are you going to use it yourself, then a good deal.  For trades may not be too good, probably the same resorts as getting an extra vacation week off of RCI.


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## cherokee_villager (Jul 13, 2006)

It is about 4 hours away from my home, just down the interstate, so will definitely be using it, as a quiet retreat. It is very similar to my current home in the Ozark hills, near lakes, etc. Plan to use it immediately after using my Las Vegas ts to help "unwind" after the glitz and glitter of Vegas.
I fugure for $2.50, its worth a try.....

Just noticed they have week 51 on ebay, starting at $1.00......

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=290006308079&ssPageName=STRK:MEWA:IT&ih=019


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## cancun dish (Jul 19, 2006)

week 47 here used to trade surprisingly well as did any prime summer week


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## bogey21 (Jul 19, 2006)

Decent Resort; just a few miles South of Hot Springs; close to Mall; close to my three favorite restaurants in the area (Jay's Italian, Pompeii and the Back Porch at Sunbay); not far from Oaklawn Park (horses) which usually start running in Mid-January; and easy drive to downtown Hot Springs.  OK for price and MF.  Don't know what closing costs were.

GEORGE


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## cherokee_villager (Jul 20, 2006)

bogey21 said:
			
		

> Decent Resort; just a few miles South of Hot Springs; close to Mall; close to my three favorite restaurants in the area (Jay's Italian, Pompeii and the Back Porch at Sunbay); not far from Oaklawn Park (horses) which usually start running in Mid-January; and easy drive to downtown Hot Springs. OK for price and MF. Don't know what closing costs were.
> 
> GEORGE


 
Thanks George for your input. Will have to try out your favorite restaurants.....


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## Mark1959 (Aug 3, 2006)

I have a week at South Shore and have exchanged it for many years.  I have noticed that it is harder to exchange due to a loss of trade power and I think it has to do with gambling.  The horse track there is very popular but now that there are casinos all over the country I feel that the gamblers don't have to go to Hot Springs to gamble like they used to.  Just my opinion mind you.

The resort was very nice and clean last time I visited.  Quite too.


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## bogey21 (Aug 3, 2006)

The city of Hot Springs recently passed a proposition (in accordance with a new Arkansas law) to permit another catagory of slots at Oaklawn Park.  Although they have expanded their Casino, they have not yet installed the new machines as they are waiting for the last of the legal challanges to be eliminated.  I suspect all the legal challanges will be out of the way by the end of the year and the new machines installed prior to the opening of racing season in Mid-January 2007.

GEORGE


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## mshatty (Sep 7, 2006)

Jim (Cherokee Villager)

I just found the website on South Shore Lake Resort and saw their "free weeks" for MF.  I then saw and read this thread.

Have you spoken with the resort about these and what the real story is?  Would you mind sharing what you found out?  I am particularly curious about the MF for different size BR's and what weeks the resort may have available from their foreclosures.

Have you visited the resort yet?  If so, what did you think?

Thanks.


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## cherokee_villager (Sep 7, 2006)

mshatty said:
			
		

> Jim (Cherokee Villager)
> 
> I just found the website on South Shore Lake Resort and saw their "free weeks" for MF. I then saw and read this thread.
> 
> ...


 
Hi Mike,

Haven't been there yet, but I've always heard that Hot Springs is a pretty nice area. I've also heard that Lake Hamilton has suffered from the lack of rain.....

I would call the resort, or email them. You can certainly save some dough if you deal directly with them. I paid a small bundle in closing costs through my ebay purchase.

Let us know how you make out.


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## mshatty (Sep 7, 2006)

Thanks Jim for your reply.  I'll call them and let you know here on TUG.


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## Arkansas Winger (Sep 8, 2006)

I have been in contact with them. You will not get any of the good summer weeks as any of those they foreclose on they keep as rentals (or possibly sell at a much higher price). She told me they kept them as rentals. As I recall a one BR had MF of $280 and a 2 BR had MF of $360. 

When I spoke with them a couple of weeks ago they did not have any 2 BR available and had no 1 BR during the racing season or summer weeks available. 

Dale


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## mshatty (Nov 24, 2006)

I ended up buying a 2BR week 27 at this resort off of ebay for $41.  I spoke with the management before bidding and they informed me that they do have a lot of rentals of their units in the summer time.  If I don't visit, I may put the unit in their rental pool.  I think they give the owner of the week 50% of all rents.  Not the best but a possible way to pay MF each year.


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## cherokee_villager (Nov 24, 2006)

*Great Buy*

Mike, sounds like a great buy. Congratulations. Just received my mf 2007 bill for 2BR. It was $435.00. No budget report included so that is a very negative on this ts. I won't be renewing if they continue to keep the owners uninformed. Their did mail a ballot for the 3 Directors seats open. Had around 32 owners running for the 3 open slots.

Good Luck with your purchase.


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## dougp26364 (Nov 24, 2006)

cherokee_villager said:
			
		

> Mike, sounds like a great buy. Congratulations. Just received my mf 2007 bill for 2BR. It was $435.00. No budget report included so that is a very negative on this ts. I won't be renewing if they continue to keep the owners uninformed. Their did mail a ballot for the 3 Directors seats open. Had around 32 owners running for the 3 open slots.
> 
> Good Luck with your purchase.



Renewing? MF's aren't like a renewal bill that you can cancel anytime you don't agree with the resort. Because of the way timeshare ownership is set up, you could find yourself on the short end of a collection attempt that could end up on your credit record at best and, at worst, you could end up paying the MF + interest + collection fee's + attorny's fee's. 

This is part of the reason you'll find people selling their units for $2.50 or even giving them away for nothing. So they can get out from under the MF's without the worry of the resort opening up a collection action against them.

Now a vacation club where you don't actually own any property would be a different. You pay to belong to the club and then pay yearly fee's. That would be a case of renewing. 

You may (or may not) be able to talk the resort into taking the unit back if the HOA likes to rent repo'd units.


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## cherokee_villager (Nov 26, 2006)

*Bad choice of words.....*

*Doug*, I used the wrong word (renewing).....I fully understand that purchasing a ts means paying the mf each year.  I should have said "retaining" the ts. 

It can just as quickly be placed up on ebay for $1.00 should the budget reports not be issued. I was surprised that 32 people are running for the 3 open seats.  That either indicates alot of people are dissatisfied with the way things are going, or that among the owners, there are alot of resort  volunteers willing to pitch in.


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## trice01 (Dec 31, 2006)

*Whoa*

"It can just as quickly be placed on eBay for $1"

Better do some research there. Yes, it can, for a $70 listing fee. There are many, many $1 eBay timeshares that never sell. You remain stuck with the maint bill until you do. Not something to be taken lightly.


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