Am I missing any other limitations of buying mandatory on the secondary market?

[UKmama19]

I am an owner already. Our son has used ours for travel a couple of times and is ready to purchase. He knows to purchase mandatory on the secondary market but has asked a couple of questions I am unable to answer.

What limitations are there other than converting SO to star points (which is never a good option in my opinion)?

Also, some ads use the language "Vistana Signature Points." Is this just new language for star options?

This forum is the best!

 

[SandyPGravel]

I don't think the purchase (unless it is re-qualified) counts toward the elite levels. That's the only other thing I can think of.

Bonus...It's fun telling the sales staff what you paid for your resale purchase.

 

[DavidnRobin]

I am an owner already. Our son has used ours for travel a couple of times and is ready to purchase. He knows to purchase mandatory on the secondary market but has asked a couple of questions I am unable to answer.

What limitations are there other than converting SO to star points (which is never a good option in my opinion)?

Also, some ads use the language "Vistana Signature Points." Is this just new language for star options?

This forum is the best!

That is it - and rarely good usage (relatively).
Also - doesn’t count towards elite status unless requaled - which doesn’t really matter unless desire is to get to 5*.
The requal would help to achieve higher elite status, but...

Buy enough resale SOs for needed usage. Usually best to buy Platinum season.


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[DannyTS]

what properties is your son looking at? If he buys just to use the Staroptions, the best are 2 bedroom at Sheraton Vistana Villages (Bella and Key West phases ONLY) and Westin Kierland, both platinum. If he does not intend to rent out the week, a 2 bedroom SVV is better in my opinion because of the low upfront cost. If the initial cost is not an issue or if he may rent out the week sometimes, Kierland is better because of the lower maintenance fees per StarOption.

 

[DavidnRobin]

Also... some here (incl myself) recommend to buy where you want to go.


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[SteelerGal]

You have to use II for trading.

 

[vacationtime1]

You have to use II for trading.

You may use Interval, but you can do internal trades using StarOptions.

 

[DeniseM]

No - if you buy mandatory/resale you have Staroptions.


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[Markus]

Some have also reported that WSJ platinum plus season is also great value. I have done this, a 3 bedroom worth 257,700 StarOptions, costs $2,900 in maintenance fees.

 

[Ken555]

Some have also reported that WSJ platinum plus season is also great value. I have done this, a 3 bedroom worth 257,700 StarOptions, costs $2,900 in maintenance fees.

Wouldn’t that property also have a higher risk of special assessments as compared to the others with good SO:MF?


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[controller1]

Wouldn’t that property also have a higher risk of special assessments as compared to the others with good SO:MF?


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Not sure. The hurricane did not cause a special assessment.

 

[DavidnRobin]

Not sure. The hurricane did not cause a special assessment.

VGV had hurricane insurance for the deductible.
Don’t forget about property taxes paid separately by VGV Owners.
Also, the $25/day ‘environment’ fee for WSJ.



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[controller1]

VGV had hurricane insurance for the deductible.
Don’t forget about property taxes paid separately by VGV Owners.
Also, the $25/day ‘environment’ fee for WSJ.



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Yes, very aware there are other issues at WSJ. I was just replying to @Ken555 and his concern about a special assessment.

 

[DavidnRobin]

I was noting that there is more than just MFs when comparing to SOs. Not an unsubstantial amount - adds a couple of hundred $


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[jjking42]

Make sure it’s Star options and not Westin or Sheraton flex points.


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[DeniseM]

Flexoptions are voluntary, so if the OP sticks with mandatory resorts, they will only get Staroptions.

He knows to purchase mandatory on the secondary market

The mandatory resorts are still the same, and I will be surprised if that changes:

* Harborside at Atlantis
* Vistana Villages (Bella and Key West phases only)
* Westin St. John (Virgin Grand - Hillside only)
* Westin Ka'anapali & Westin Ka'anapali-North
* Westin Kierland Villas

 

[UKmama19]

Thanks for all the feedback. Can anyone address - some ads use the language "Vistana Signature Points." Is this just new language for star options?

 

[jjking42]

NO , no do not buy signature points. You want mandatory resorts that come with star options as Denise stated above.
Sheraton Vistana villages will the be the lowest purchase price and Westin Kierland will have the lowest MF. Buy the other 3 if you want to visit them most of the time and require certain weeks or room categories.

 

[VacationForever]

Thanks for all the feedback. Can anyone address - some ads use the language "Vistana Signature Points." Is this just new language for star options?

Vistana Signature Points = Flex Points => Voluntary => No StarOptions when resold.

 

[CPNY]

Go with SVV key west or Bella. Start off with a 2 bedroom lockout platinum season in Key west. You can pick one up for under 1000. WKV is a Better value star options to maint fees but the buy in is around 12K.

 

[dioxide45]

Go with SVV key west or Bella. Start off with a 2 bedroom lockout platinum season in Key west. You can pick one up for under 1000. WKV is a Better value star options to maint fees but the buy in is around 12K.

YOu really have to be patient and watch all the sites deliberately to get a Prime/Platinum in any unit size (except the 1BR) for $1000. 2BR Units seem to be selling north of $1,500. An annual 81K 2BR-LO High (Gold Plus) week sold on eBay recently for $1500. It did however come with free usage, so perhaps could be considered free. An EOY Prime 81K 2BR week sold for $628. That would be $1,250 annualized. Another 81K 2BR Prime sold for $1,500 and required the buyer to repay 2019 MFs for 2019 use.

 

[CPNY]

YOu really have to be patient and watch all the sites deliberately to get a Prime/Platinum in any unit size (except the 1BR) for $1000. 2BR Units seem to be selling north of $1,500. An annual 81K 2BR-LO High (Gold Plus) week sold on eBay recently for $1500. It did however come with free usage, so perhaps could be considered free. An EOY Prime 81K 2BR week sold for $628. That would be $1,250 annualized. Another 81K 2BR Prime sold for $1,500 and required the buyer to repay 2019 MFs for 2019 use.

I agree you have to be vigilant in your search. I saw the 1,500 2 bedroom with payment of 2019 maint fees. Two years ago I picked up a prime lockout for 1000 and last week (still waiting on contract) prime lockout EOYE for 500. While eBay is great for low prices, it lacks the ability to negotiate sometimes. It seems we are all around the same price.

 

[vacationtime1]

YOu really have to be patient and watch all the sites deliberately to get a Prime/Platinum in any unit size (except the 1BR) for $1000. 2BR Units seem to be selling north of $1,500. An annual 81K 2BR-LO High (Gold Plus) week sold on eBay recently for $1500. It did however come with free usage, so perhaps could be considered free. An EOY Prime 81K 2BR week sold for $628. That would be $1,250 annualized. Another 81K 2BR Prime sold for $1,500 and required the buyer to repay 2019 MFs for 2019 use.

I agree that it is much better to purchase a prime/platinum week rather than low season at SVV; the MF/SO ratio is superior and that benefit goes on forever.

But I wouldn't obsess so much about the purchase price. Paying an extra $500 means that over ten years, each usage week cost $50 more -- not so much. Especially if paying a bit extra permits one to close earlier in the year enabling more usage possibilities the first year.

 

[dioxide45]

I agree you have to be vigilant in your search. I saw the 1,500 2 bedroom with payment of 2019 maint fees. Two years ago I picked up a prime lockout for 1000 and last week (still waiting on contract) prime lockout EOYE for 500. While eBay is great for low prices, it lacks the ability to negotiate sometimes. It seems we are all around the same price.

I also think that the lack of ROFR can cause prices to vary greatly. With ROFR in the middle, you would have an arbitrator of sorts that would be setting a minimum price to some degree. It is possible to get individual one off transactions that are artificially low. Heck, I picked up a 2BR Prime 81K last year for less than $25. So deals are out there and in a place where there may not be a lot of eyes, snagging a good deal can happen, but I wouldn't say it is the norm.

 

[dioxide45]

I agree that it is much better to purchase a prime/platinum week rather than low season at SVV; the MF/SO ratio is superior and that benefit goes on forever.

But I wouldn't obsess so much about the purchase price. Paying an extra $500 means that over ten years, each usage week cost $50 more -- not so much. Especially if paying a bit extra permits one to close earlier in the year enabling more usage possibilities the first year.

I would agree. It seems that the market is showing this also, I am seeing far fewer Prime season SVV weeks on the market and the few I do see get snapped up pretty quickly and for higher prices than where they were just a year ago.