Nanea reality check!

[EnglishmanAbroad]

Just been taking my annual tour of woe through Redweek to determine how little my two EOY 2BR Island Views at KORVN are actually worth on the resale market.

Popped over to the Nanea page and it seems that the resellers there haven't yet grasped the harsh reality of how little what they have bought is actually worth. One or two are in the sub $20K range but the majority are priced at $20K plus even for 1BRs, EOYs, and Resort Views? All without the flexibility of SOs for the buyers.

Needless to say the resales at KORVN and KORV are showing a healthier sign of life. Maybe with help from the Nanea prices we'll see an uptick for those resorts. I live in hope

 

[rickandcindy23]

We have friends who are staying at Nanea right now for two weeks in a 2 bedroom, second time in two years. They feel they have practically won the lottery with their lucky exchanges so far, but those will dry up and then they will be looking to buy something with mandatory SO's. But I don't know that they will enjoy paying the fees each year. They are used to that Vistana preference.

 

[capjak]

It really does not matter what they sale for unless you are either buying or selling. It's the MFs when you are using them.

Just been taking my annual tour of woe through Redweek to determine how little my two EOY 2BR Island Views at KORVN are actually worth on the resale market.

Popped over to the Nanea page and it seems that the resellers there haven't yet grasped the harsh reality of how little what they have bought is actually worth. One or two are in the sub $20K range but the majority are priced at $20K plus even for 1BRs, EOYs, and Resort Views? All without the flexibility of SOs for the buyers.

Needless to say the resales at KORVN and KORV are showing a healthier sign of life. Maybe with help from the Nanea prices we'll see an uptick for those resorts. I live in hope

 

[darius]

Just been taking my annual tour of woe through Redweek to determine how little my two EOY 2BR Island Views at KORVN are actually worth on the resale market.

Popped over to the Nanea page and it seems that the resellers there haven't yet grasped the harsh reality of how little what they have bought is actually worth. One or two are in the sub $20K range but the majority are priced at $20K plus even for 1BRs, EOYs, and Resort Views? All without the flexibility of SOs for the buyers.

Needless to say the resales at KORVN and KORV are showing a healthier sign of life. Maybe with help from the Nanea prices we'll see an uptick for those resorts. I live in hope

I see what you are saying. We purchased a resale Nanea 3 bedroom oceanfront from Redweek, then did a trade in (a unit we got on ebay for almost nothing), purchase and requalification. Our family absolutely loves the 3 bedrooms at Nanea and truly believe there is something for everyone. While I totally agree the non-mandatory is an issue upon resale, IF someone wants to requalify it or just use it every year it's a spectacular property - we have zero regrets with our purchase. It could also be because the property is "new" that folks are willing to pay more for Nanea currently.

 

[vacationtime1]

There should be no real disadvantage resulting from resale Nanea oceanfront units being voluntary.

Developer purchasers and resale owners will compete for reservations on a level playing field from the same reservation pool at the twelve mark; there is no disadvantage there.

If you own oceanfront at Nanea, you will either use your unit or you rent it out because depositing it into Interval or trading it for StarOptions inevitably results in a less valuable property (from the standpoint of rental value) -- a loss of relative value. It doesn't matter that a developer purchaser can get StarOptions because availing oneself of the StarOption option is not a good economic option.

We shall see over time how the resale market treats these prime units. There is no reason the resale market for Nanea oceanfront shouldn't settle at prices similar to WKORV/N oceanfront (adjusting for differences in MF's or 3bd units) even though Nanea is voluntary.

 

[EnglishmanAbroad]

I agree with the points made about Oceanfront over Resort view although I think they were pretty liberal in describing those units above the restaurant and behind the pool as Oceanfront. Has anyone stayed in one of those? My concern as either an owner or renting from a Resort view owner at Nanea would be the relatively high chances of getting a parking lot view.

 

[controller1]

I agree with the points made about Oceanfront over Resort view although I think they were pretty liberal in describing those units above the restaurant and behind the pool as Oceanfront. Has anyone stayed in one of those? My concern as either an owner or renting from a Resort view owner at Nanea would be the relatively high chances of getting a parking lot view.

We've never stayed in one of those. In 2018, we stayed in a 3-bedroom OF in Building 1. Earlier this year we stayed in a 2-bedroom OF in Building 8.

 

[Sea Six]

I toured Nanea yesterday and made a comment that I thought it was ridiculous that they had only 2 view categories - ocean front and resort view. I said there should be at least 4 - ocean front, ocean view, courtyard view, and island view. I told them I would never buy here given my resort view could be that of a parking garage. But, I must say the 3 bedroom oceanfront is AWESOME! I could live there!

 

[Smithsingeneva]

I agree with the points made about Oceanfront over Resort view although I think they were pretty liberal in describing those units above the restaurant and behind the pool as Oceanfront. Has anyone stayed in one of those? My concern as either an owner or renting from a Resort view owner at Nanea would be the relatively high chances of getting a parking lot view.

I own WKORVN OV. Given the long flights, we always book a few extra days before or after. Last year, we booked at the resort using hotel points. They put us in a OF room, second floor right above Pailolo. We obviously knew there were better OF rooms in the resort (and especially next door at the South property), but the view was excellent. It depends on your perspective - will you dwell on not having the best OF room, or will you enjoy this view?

Of course, this is with a zoom. As you stand on the balcony, the restaurant is right below you, but it is easy to ignore.

 

[EnglishmanAbroad]

View attachment 11853

I own WKORVN OV. Given the long flights, we always book a few extra days before or after. Last year, we booked at the resort using hotel points. They put us in a OF room, second floor right above Pailolo. We obviously knew there were better OF rooms in the resort (and especially next door at the South property), but the view was excellent. It depends on your perspective - will you dwell on not having the best OF room, or will you enjoy this view?

Of course, this is with a zoom. As you stand on the balcony, the restaurant is right below you, but it is easy to ignore.

I think anyone who has paid the premium for OF has the right to dwell on it. We however who bought IV at WKORVN but have been put in OF over 50% of the time we've stayed there have no right to dwell. Still prefer Bldg 8 over Bldg 5 though

 

[Ken555]

As you stand on the balcony, the restaurant is right below you, but it is easy to ignore.

I had a unit with that view. The view was great, but the noise and smell from the restaurant was not.


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