# Wyndham Panama City / Emerald Beach



## smiley2021 (Mar 23, 2013)

I have an opportunity to buy 259,000 resale point for $2000 (all fees included.)at Wyndham Panama City (emerald beach).   MF is around $87.00 monthly.  I don't current own a timeshare and really don't know much about them.   Is this a good deal or could I find this cheaper.   We have stayed several time at this resort and really like it and we go to PCB at least 2 a year..

Any advice would be greatly appreciated..


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## ronparise (Mar 23, 2013)

You should really learn more about timeshare in general and Wyndham in particular before you jump in.  When you say "I don't current own a timeshare and really don't know much about them". but you are ready to spend $2000 and commit a thousand a year forever...that scares me a little. 

However if you decided later this is not for you, you can easily give away or sell it...you might even be able to profit a little

this is a great place to own because the maintenance fees are low. You may kick yourself later for having passed up this deal...Is it a good price??...At 7 tenths of a cent per point, you might be able to do better but a recent sale on ebay,  168000 points went for just over $2000 incl closing and transfer (1.2 cents per point)...and there was a sale of 1,2000,000 points for the same price per point you were offered..There was another large contract however that went for under a half a cent per point.

Just remember the initial purchase is a one time thing and whether you pay $1000, $2000 or $3000 now wont be terribly important 10 years from now...Maintenance fees however are forever

This is enough points for one week in a one bedroom at that resort in prime season, although you could do 5 weeks in a sudio in "quiet season" 


Knowing what I know, If I wanted a Panama Beach ownership...Id buy this one


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## smiley2021 (Mar 23, 2013)

Thank.  I have done a lot of research but still feel like I have a lot to learn.  I have been looking at this resort for over a year now and even attended the timeshare presentation there.   So I guess I know a little.  Just wanted someone like yourself with experience to reply if it was a good deal or not.


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## ronparise (Mar 23, 2013)

smiley2021 said:


> Thank.  I have done a lot of research but still feel like I have a lot to learn.  I have been looking at this resort for over a year now and even attended the timeshare presentation there.   So I guess I know a little.  Just wanted someone like yourself with experience to reply if it was a good deal or not.



in todays market its a fair deal....like I said Id do it, but I dont worry too much about the purchase price if its something I want...I think the seller could do better if they held out and waited for the right buyer, and I think you could do better if you were willing to wait...


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## capital city (Mar 23, 2013)

I recently bought a panama city contract and watched ebay for a couple of months to figure out what was a good deal and what wasn't. The first thing you need answer is if this is enough points. Panama City requires a lot of points especially in prime season, so if you are wanting 2 weeks there it may not be enough for you. Another downside to this amount of points is that when I was watching this amount was selling for more per thousand then the others. A good deal for those points would be $1300 or $5/thousand, a average deal would be $1560 or about $6/thousand and is the highest I would go. But like Ron said if its what you want then what is an extra $400 for a one time fee. Its the on going cost that matters and Panama City is excellent for that. 

Like I said before that amount of points is bringing in the higher amount per point and $2000 would seem about right. You could however find a 500,000 pts for $2500-$3000 if your patient.  All of my #'s are out the door (everything included)


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## jebloomquist (Mar 23, 2013)

All things considered, if your description is accurate, this is a deal that I could go for. If you don't want it, I'll take it.


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## webkrawlerr (Mar 24, 2013)

Wow..has the market really gone up this much?

My wife and I bought about 600,000 Wyndham points, via more than one contract at various locations, through E-bay and I think we paid right at about $2000.00 for all of it. (Fees included). We bought starting about 2 years ago and last purchase was about a year ago 

I am surprised anyone is saying 259,000 for $2000.00 is a good deal.

If this is the case, I am very glad we bought when we did.


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## simpsontruckdriver (Mar 24, 2013)

It's not a matter of the cost, it's a matter of where people want their home resort to be. In this case, it is in the highly desirable Panama City Beach FL.On the other hand, Orlando has so many non-Disney timeshares that the prices are comparitively low. The DVC resorts, on the other hand, are VERY expensive on the resale market (not to mention the Walt Disney World ones are almost sold out).

TS


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## ronparise (Mar 24, 2013)

webkrawlerr said:


> Wow..has the market really gone up this much?
> 
> My wife and I bought about 600,000 Wyndham points, via more than one contract at various locations, through E-bay and I think we paid right at about $2000.00 for all of it. (Fees included). We bought starting about 2 years ago and last purchase was about a year ago
> 
> ...



The market for most Wyndham contracts is still about what you paid. But the Panama City property is a specific location and you bought at "various locations". 

There are now and there were two years ago, certain resorts that cant be sold at all without an incentive and others that sell for a significant premium. Panama City is worth more than average, because the mf is so much less than average

My first contract 2 years ago was for 385000 points at $700, (fees and transfer included.....and I overpaid


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## smiley2021 (Mar 24, 2013)

So Ron, do you buy up points and then rent the weeks/days?  Just wondering how that works if I could only use half the points can I use the other points on 4 or 5 days and then rent it?   Or how does RCI work?


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## ronparise (Mar 24, 2013)

smiley2021 said:


> So Ron, do you buy up points and then rent the weeks/days?  Just wondering how that works if I could only use half the points can I use the other points on 4 or 5 days and then rent it?   Or how does RCI work?



I started with a purchase for my own use than as I boughtt some more set out to rent some for enough  to pay the maintenance fees on them all..and now Im making a little profit

You cant rent RCI exchanges unless you are willing to break their rules...so RCI doesnt work for rentals. But you do get a RCI account with your Wyndham ownership and you can exchange your Wyndham points for RCI vacations (wyndham points plus an exchange fee)


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## smiley2021 (Mar 24, 2013)

OK.   Looks like I can get 10+ days in a 1 bedroom (prime weeks) and I was hoping to use 5 and rent 5 and pay for some or most of the MF fees.


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## jebloomquist (Mar 24, 2013)

smiley2021 said:


> OK.   Looks like I can get 10+ days in a 1 bedroom (prime weeks) and I was hoping to use 5 and rent 5 and pay for some or most of the MF fees.



Be aware that renting isn't as simple as it might seem. If you are going to rent to someone that you know, a relative or friend, fine. But, if you expect to rent to someone that you don't know, you need to do a lot of homework.

You need to advertise. You need a rental contract. Look at what type of advertisement that attracted you to Panama City Beach, and the type of contract you needed to sign.

And finally, you will be competing against the VIP Platinum owners who get the units at half price and then upgrade. For example, take a prime studio at Panama City Beach for 126k. They get it for 63k, and then with luck may upgrade to a 2 bedroom. They might advertise that 2 bedroom unit for $700 for the week, and still making a profit. How do I know this? I do it all the time.

All I'm suggesting is for you to know your rental audience.

Good luck.

Jim


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## smiley2021 (Mar 24, 2013)

Maybe I just need to get in touch with you Jim and just rent from you.   I would love to do that if you can give me that kind of deal.


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## jebloomquist (Mar 25, 2013)

smiley2021 said:


> Maybe I just need to get in touch with you Jim and just rent from you.   I would love to do that if you can give me that kind of deal.



Thanks, but no thanks. If you have the 2 grand and can pay the maintenance, in a year you will find that you use all of the 259k points and want even more. Once you get on this timeshare horse, it can be a fun ride. As much as some Tuggers complain, I don't see many of them selling their timeshares.


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## siesta (Mar 25, 2013)

This resort is in sales mode and the Mf are being subsidized, expect them to go up.  You are better off buying an older property that has higher but stable fees.  which you can get for alot less than $2k


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## simpsontruckdriver (Mar 25, 2013)

True... buy another Wyndham resort (Orlando and Smoky Mountains resorts are pretty cheap), and use those points at the 10-month point to rent a suite at Panama City.

TS


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## New2time (Mar 25, 2013)

Did I read or hear somewhere that IF you own in Orlando that you cannot trade into a DVC resort? I may be having a brain freeze but I seem to remember something along those lines.


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## smiley2021 (Mar 25, 2013)

Jim - i just figured if you currently rent weeks I could contact you to rent some and not worry about buying a timeshare. 

When I sat in on the Timeshare presentation last July they said the Panama City resort was sold out.  So when would you think the MF will rise and how much would you think they would go up?


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## capital city (Mar 25, 2013)

smiley2021 said:


> Jim - i just figured if you currently rent weeks I could contact you to rent some and not worry about buying a timeshare.
> 
> When I sat in on the Timeshare presentation last July they said the Panama City resort was sold out.  So when would you think the MF will rise and how much would you think they would go up?



Its not going to rise anymore then the 3-4% it has every year. People are misinformed and shouldn't make assumptions just because it has low maintenance fees. Panama is done and has been, its not in sales mode. The m/f are low because the points to stay are so high, this is common throughout Wyndham. If you feel its a good buy go for it, I would suggest you sit on it for a while and buy toward the end of the year when people are dreading the new bill coming in the mail Jan 1st. You will have more to choose from and better prices. I got 520k for $4k but I also got 560k points that were banked, so I feel I got a pretty good deal for being patient. I'm proud of that cause I'm usually not very good at it. :rofl:


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## ronparise (Mar 25, 2013)

capital city said:


> Its not going to rise anymore then the 3-4% it has every year. People are misinformed and shouldn't make assumptions just because it has low maintenance fees. Panama is done and has been, its not in sales mode. The m/f are low because the points to stay are so high, this is common throughout Wyndham. If you feel its a good buy go for it, I would suggest you sit on it for a while and buy toward the end of the year when people are dreading the new bill coming in the mail Jan 1st. You will have more to choose from and better prices. I got 520k for $4k but I also got 560k points that were banked, so I feel I got a pretty good deal for being patient. I'm proud of that cause I'm usually not very good at it. :rofl:



Finally I found someone that agrees with me (or is it that  I agree with them)
about the low mf resorts..Its points inflation that keeps the rate down, not a Wyndham subsidy


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## jberndt10 (Mar 30, 2013)

siesta said:


> This resort is in sales mode and the Mf are being subsidized, expect them to go up.  You are better off buying an older property that has higher but stable fees.  which you can get for alot less than $2k



That's funny, when we checked in last week and declined the concierge "gift" delivered to our room we were told its only an update center, no sales.:rofl:


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