All,
Seeking some guidance as I purchase a resale at SVV. The underlying week is deeded 26 - and specifically I was wondering what exactly does that mean in terms of trading in II? Does it really have any relevance?
The week has no relevance unless it is a fixed week. The ad will tell you if it's fixed, so otherwise assume it's a floating week. What matters is the underlying season you own. As long as you buy one of these weeks at SVV (6-17, 23-34, 39-47, 51-52), it's a platinum week.
Also, I assume you know to only target Key West or Bella, as those are the only two SVV phases which carry SOs with them upon resale purchase.
More importantly, how early do you have to book to get 'mid' to 'low' demand times with staroptions? i.e. Kierland in August... Lagunamar in July, Hawaii in July or Sept?
For desert properties, you won't have to book that far ahead, as they usually have tons of inventory available in the summer. In fact, you may not have to use StarOptions at all. First, I'd check II Getaways, which are weeks you can rent outright for a very reasonable fee, often less than the cost of MFs. Desert properties during the summer are very reasonable in II Getaways.
For instance, I just checked II Inventory for this summer, and there are a ton of weeks available at Sheraton Desert Oasis ($437 for a 1 bdrm and $667 for a 2 bdrm) or Marriott Canyon Villas ($347 for a studio, $427 for a 1 bdrm, and $547 for a 2 bdrm).
For Hawaii in low season, you probably won't have issues if you book at 8 months out using SOs. For many reasons, exchanging into Hawaii is getting more difficult, so I'd want to book at 8 months. It used to be easy to get into low season in Hawaii via II, but inventory is reportedly getting tighter.
Also, how does it work trading with II from SVV? I read through the sticky and am still confused about the process... would it be best if I bought a lock-off and split it to attain the best outcome, or are two bedroom villas the most popular?
In terms of II exchanging, if you only need 1 bdrm, it's far better if you buy a lock-off because it allows you to split the unit and use each side separately. If you buy a 2 bdrm non-lockoff, your only two options are to use it or exchange it. With a 2 bdrm lockoff, you can: a) Use one side and deposit the other side in II; b) Use one side and convert the other side to SOs; c) Use both sides; d) Deposit both sides in II; e) Convert both sides to SOs; f) Deposit one side in II and convert the other side to SOs.
In II, you can exchange via two methods: Ongoing Requests and Instant Exchange. With Ongoing, you pay a fee to enter a series of dates and resorts that you want to exchange to. (For instance, you'd select Westin Kierland with travel dates of 7/1/14 through 9/30/14.) If and when Starwood deposits a matching unit in the bank, people with O.R. get their exchanges fulfilled
first. So the earlier you enter, the better your chances of getting into the top tier resorts, such as Hawaii or Harborside.
There are a few downsides with Ongoing Request. The main one is that Starwood rarely deposits high season into II. The second is that you cannot request a unit larger than what you are depositing. So if you want a 2 bdrm at Kierland, you have to deposit a 2 bdrm.
The second way to exchange in II is with Instant Exchange. Since O.R. are filled first, these are the "leftover" weeks. However, like a box of chocolates, you never know what you're going to get. This method can work great if you can travel on short notice, if you can travel in low season, or if you want to trade up to a larger unit. With I.E., you can book anything you can see. So even if you only have one side of your lockoff available to deposit, it's quite possible to exchange into a 2 bdrm, esp in low season.
I am new to timesharing and not long out of college - I thought it would be a good opportunity to purchase a timeshare to help defer costs of future vacations (I usually travel 2-3 weeks annually on leisure trips, usually vacationing to Westin Vacation Club resorts). Any guidance you can all give is greatly appreciated.
First of all, if you cannot afford to buy it with cash, and have to finance the purchase, don't do it.
I'd also caution you that while Starwood has great timeshares, the network is extremely limited. Look over the list and see how many places you really want to visit again and again. After 7 years of owning Starwood, I was getting really bored with the limited selection.
Finally, it's becoming more and more difficult to do SO exchanges. If you want to travel in low season, that works in your favor. But at the end of the day, the only guarantee you have if you buy at SVV, is one week in a 2 bdrm at SVV.
Hope this helps!