• Welcome to the FREE TUGBBS forums! The absolute best place for owners to get help and advice about their timeshares for more than 32 years!

    Join Tens of Thousands of other owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 32 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 32nd anniversary: Happy 32nd Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    All subscribers auto-entered to win all free TUG membership giveaways!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $24,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $24 Million dollars
  • Wish you could meet up with other TUG members? Well look no further as this annual event has been going on for years in Orlando! How to Attend the TUG January Get-Together!
  • Now through the end of the year you can join or renew your TUG membership at the lowest price ever offered! Learn More!
  • Sign up to get the TUG Newsletter for free!

    Tens of thousands of subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Massive Massanutten Timeshare Auction of Association Inventory

TUGBrian

TUGBrian

Administrator
Joined
Mar 24, 2006
Messages
25,623
Reaction score
12,423
Location
Florida
Appears that all these are intervals that have been taken back by the association via various methods....that is an impressive amount of association owned inventory! note that this page is run by the lawfirm (clark and bradshaw) that is employed by Massanutten.



I mention this based off a post on facebook where an owner chronicled his exit of his woodstone ownership by stopping payment.... over 3.5 years ago. and only just today verified his name is no longer listed on the deed. He also indicated no negative consequences or even mention of this on his credit report.

Our credit score with all three reporting agencies remains unchanged, and there are no derogatory entries listed. We're finally, completely rid of it, and I'm cautiously optimistic that we'll see or hear nothing further about it. It's been a long 3.5 years!
Click to expand...
 
I don't think they've been taken back by the HOA yet. Reading it, it seems to be a trustee sale on weeks for which the HOA is foreclosing due to non payment. Is anyone really going to step in and buy any of these? I doubt many, if any, individuals would be buying them. Perhaps they just end up going back to the HOA.
 
the original poster did indicate he recieved documentation about his deed being foreclosed on, and even given a date for the auction (was back in january)...and no further contact other than when he looked up his deed now it shows its owned by the association and not him. maybe the association bids 1 dollar on all of them?

its absolutely insane to me that a resort would utilize this strategy.... 3.5years worth of lost fees...not to mention the cost of all the notifications and payment to the lawfirm to deal with all these... all being paid for by the remaining owners.

just to end up with something the owner wanted to give you for free at the start.
 
TUGBrian said:
the original poster did indicate he recieved documentation about his deed being foreclosed on, and even given a date for the auction (was back in january)...and no further contact other than when he looked up his deed now it shows its owned by the association and not him. maybe the association bids 1 dollar on all of them?

its absolutely insane to me that a resort would utilize this strategy.... 3.5years worth of lost fees...not to mention the cost of all the notifications and payment to the lawfirm to deal with all these... all being paid for by the remaining owners.

just to end up with something the owner wanted to give you for free at the start.
Click to expand...
That poster's name is on the list from post #1?
 
he is the one who provided the link to it so i assume its in there(and he said it did appear), though I did not go thru them all to look.
 
TUGBrian said:
he is the one who provided the link to it so i assume its in there(and he said it did appear), though I did not go thru them all to look.
Click to expand...
It just seems odd that he says his name is no longer on the deed since the grantor on all those are showing as individuals and not the HOA. Perhaps it is just not a full understanding of how the process works. If he is one of those on the list, then after the auction his name would be off the deed.

It looks like the HOA may just be going back and doing a lot of cleanup to get title cleared on a lot of delinquent intervals and finally foreclosing for past due fees.
 
he mentioned that he detailed the entire 3.5 year process in another thread, but im not able to find it.

I was just pretty shocked to see just how much inventory is being handled by this lawfirm...and how the resort still continues to use such a lengthy and expensive process to handle defaults.
 
Shocking! And sad state of affairs that the industry does not have a decent take-back program. Get them back for free, resell at drastically reduced prices. Stop selling for tens of thousands. Collect on mf, and survive comfortably on that. The whole model just needs to change.
 
Patri said:
Shocking! And sad state of affairs that the industry does not have a decent take-back program. Get them back for free, resell at drastically reduced prices. Stop selling for tens of thousands. Collect on mf, and survive comfortably on that. The whole model just needs to change.
Click to expand...
My guess is that none of these deeds will be bought out of the auction unless some other timeshare entity is interested in taking them on. Perhaps something like Capital Vacations.
 
dioxide45 said:
My guess is that none of these deeds will be bought out of the auction unless some other timeshare entity is interested in taking them on. Perhaps something like Capital Vacations.
Click to expand...
I can remember this would been a golden opportunity for Diamond Resorts to purchase all these deeds.
 
as far as I know, the announcement and hosting of the auction is a required part of the legal association foreclosure process.

what i dont know is what happens if noone bids? the assumption is that the association can then transfer the deeds back into their names?

its an absurd to go through all that just to end up back in the exact same spot YEARS later, and thousands upon thousands of dollars wasted.
 
TUGBrian said:
as far as I know, the announcement and hosting of the auction is a required part of the legal association foreclosure process.

what i dont know is what happens if noone bids? the assumption is that the association can then transfer the deeds back into their names?

its an absurd to go through all that just to end up back in the exact same spot YEARS later, and thousands upon thousands of dollars wasted.
Click to expand...
The HOA would have had to file a lien in order to initiate the foreclosure process. In the event no one bids, the property would revert to the lien holder (HOA).

As for going through all this, I suspect they were hoping that threats and strong arming would result in delinquent owners paying the fees. Then there is also the deterrent on other owners who are currently paying but might be considering default. Then the deterrent of just opening up the floodgates and having everyone default just to get out. It might have worked on some owners and those that it didn't are listed in this foreclosure.
 
it clearly has to be effective if the end result we are seeing here is a net positive on the balance sheet... though I dont see how it remains sustainable.

would love to see the bad debt lines on a massanutten association budget over the past few years.
 
I have several question? Why are so many owners not paying their maintenance fees, resort fees and mortgage fees at such a nice resort?
 
lack of any official surrender program and far more sellers than buyers on the resale market!
 
Many resorts just need to face the facts that they aren't viable as a timeshare resort. This is a problem with highly seasonal properties. Summer is peak and they are full but much the rest of the year they have low occupancy. Those peak week owners need to realize that they can't hold on forever and need to start winding down. Perhaps the land had other value. Wyndham saw this and started the process at several of their properties.

The main problem is that no one entity has enough of a controlling interest to force the process through with special meetings and special elections. Thus the resorts just keep things going with the status quo.
 
dioxide45 said:
Many resorts just need to face the facts that they aren't viable as a timeshare resort.
Click to expand...
Exactly. It sucks for people who own at such resorts, but it's just not realistic for some to keep going. As with the current batch of Wyndham resort closures, being part of a larger system can sometimes help subsidize floundering resorts to hold on longer, but at some point economic facts just have to be acknowledged.
 
They have ski lifts and other winter activities.
 
pedro47 said:
Massanutten is a great ski resort and is a nice place to vacation in the summer months for children.
Click to expand...
And the "stick" and "mud" seasons in Virginia aren't as extreme as in New England, for example. Calling it a four-season resort would not be much of an exaggeration, if at all.

Our son went to James Madison University and we visited Massanutten several times. Never in the summer when school was out and never in the dead of winter. I remember Massanutten as a very pleasant place and it has a lot more now than it did in the early 2000s.

We booked some time at Massanutten for our then-prospective daughter-in-law and two friends to study for their nurse's exam. Don't know how much studying they did but she passed the exam.
 
chapjim said:
And the "stick" and "mud" seasons in Virginia aren't as extreme as in New England, for example. Calling it a four-season resort would not be much of an exaggeration, if at all.

Our son went to James Madison University and we visited Massanutten several times. Never in the summer when school was out and never in the dead of winter. I remember Massanutten as a very pleasant place and it has a lot more now than it did in the early 2000s.

We booked some time at Massanutten for our then-prospective daughter-in-law and two friends to study for their nurse's exam. Don't know how much studying they did but she passed the exam.
Click to expand...
You could have visited the Sky Line Drive, The Nature Bridge and The Luray Cravens . LOL.. Your Daughter in Law and her two friends passed their nursing exam and that was important. IMHO.
 
pedro47 said:
You could have visited the Sky Line Drive, The Nature Bridge and The Luray Cravens . LOL.. Your Daughter in Law and her two friends passed their nursing exam and that was important. IMHO.
Click to expand...
We've lived in Virginia for over forty years.
 
TUGBrian said:
I mention this based off a post on facebook where an owner chronicled his exit of his woodstone ownership by stopping payment.... over 3.5 years ago. and only just today verified his name is no longer listed on the deed. He also indicated no negative consequences or even mention of this on his credit report.
Click to expand...
I'm not surprised.
Massanutten used to be run by Daily Management before the sale to Vacatia and this is the same process that was used when I gave up my Grandview.
They took about 5 years to take it back and nothing ever mentioned on my credit report either.
Just a year or two initially of credit agencies trying to collect by phone.
Grandview wasn't willing to take it back either.
 
dioxide45 said:
Many resorts just need to face the facts that they aren't viable as a timeshare resort. This is a problem with highly seasonal properties. Summer is peak and they are full but much the rest of the year they have low occupancy. Those peak week owners need to realize that they can't hold on forever and need to start winding down. Perhaps the land had other value. Wyndham saw this and started the process at several of their properties.

The main problem is that no one entity has enough of a controlling interest to force the process through with special meetings and special elections. Thus the resorts just keep things going with the status quo.
Click to expand...
I don't think this is true for Massanutten though, it's got skiing in the winter, then has mountain bike trails in the warmer months, as well as hiking, go carts, indoor and outdoor water park, bussed day trips to a river for kayking and tubing, arcades, pools, hot tubs, steam room, sauna, multiple restaurants, arts and wine areas and events, and it's so big that's probably leaving a bunch out. Literally stuff to do every week of the year. Also 45 minutes from a bunch of caverns, a university town with various restaurants and shopping options. I really do think it's a 4 season resort.

Honestly I think the main issue is it's almost too big and just has massive capacity, and while there's a lot to do there I figure it'd need something like another Disney park to fill all those units they have across what, 6k acres? If it had about 1/2 the units, it'd be packed much of the time. But for those in the know, it's very often available cheap in Extra Vacations and Last Calls so owning there would only make sense if you could get a really good trading unit I think. IDK, they might have some RCI Points units that are that - I vaguely remember that. But that's for TUGers.
 
Have this timeshare resort just overbuilt for this region and their projected vacation population?
 
You must log in or register to reply here.
Top