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Dumping of timeshares is coming.....Prepare yourself for big maintenance fee increases and special a

allsmiles2771

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I also prefer fixed weeks since I try to buy timeshares with a good view of ocean. I would never consider a Points system because I always want the view of the ocean. That is just my opinion but special assessments can ruin people that own several timeshares. I don't know the answer and I will soon be out of the timeshare ownership in the near future. Boards do not represent owners in some cases they represent the management companies for the power and perks in some cases,
 

allsmiles2771

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OB OP:

Bold, or italics, and especially italics, normally means the person is quoting something from somewhere else. Since yours is not in italics, are you?

Or is your OP your own words?

When quoting someone else, is nice to know the source.

By the way, there is no timeshare crisis for those who don't want to get rid of their timeshares. It's only the other 15% of owners.
I used bold print so it would be easier to read for me and others.
 

WVBaker

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What were we thinking! Beware the four Horsemen of the timeshare apocalypse! Quick, grab the beer! :eek:
 

GetawaysRus

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Ahhh yes, and the world will come to an end one day.........................

I think that's in about 7.5 billion years, give or take a few billion.

At the rate at which annual maintenance fees have been increasing, just think about what our MFs will be in a few billion years!!
 

OldGuy

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I think that's in about 7.5 billion years, give or take a few billion.

At the rate at which annual maintenance fees have been increasing, just think about what our MFs will be in a few billion years!!

& I'll still be on craigslist, trying to get rid of ours

:cool:
 

Tamaradarann

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I also prefer fixed weeks since I try to buy timeshares with a good view of ocean. I would never consider a Points system because I always want the view of the ocean. That is just my opinion but special assessments can ruin people that own several timeshares. I don't know the answer and I will soon be out of the timeshare ownership in the near future. Boards do not represent owners in some cases they represent the management companies for the power and perks in some cases,

I understand your desire to have a good view of the ocean. We don't own ANY timeshares with a view of the ocean. In 2019 we have already spent 117 nights in Honolulu and Maui with nice views of the ocean. We will have another 7 nights booked in late December in Honolulu with a nice view of the ocean. We will be spending 8 nights in NYC in August, 3 nights near Zion National Park and 14 nights in Las Vegas in September-October without the possibility of ocean views. In December we have 15 nights on Hawaii Island at resorts we have never stayed at before so I don't know the views we will get.
 

dioxide45

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OB OP:

Bold, or italics, and especially italics, normally means the person is quoting something from somewhere else. Since yours is not in italics, are you?

Or is your OP your own words?

When quoting someone else, is nice to know the source.

By the way, there is no timeshare crisis for those who don't want to get rid of their timeshares. It's only the other 15% of owners.
Delinquency rates on residential mortgages got as high as 11% during the financial crisis. Those 15% of owners could be a big problem if they were to all default at the same time.
 

PigsDad

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I used bold print so it would be easier to read for me and others.
Bold or ALL CAPS usually indicates "shouting"; it doesn't make it easier to read for most. What would have made your original post easier to read is a paragraph break occasionally. Give it a try next time. ;)

Kurt
 

OldGuy

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Got confirmation today that we did, in fact, dump another one. So, a teeny, tiny piece of sky fell.

;)

&, oh, by the way, the dumping of timeshares started at least ten years ago. A lot of factors involved, but they include the aging of early timeshare owners, and the economic speedbump.

Did the memo just get to you oceanbreeze?
 
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OldGuy

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Bold or ALL CAPS usually indicates "shouting"

I almost said that, but it's actually ALL CAPS that indicates shouting.

& it's Italics that indicates it's a quote.

So, I wasn't sure what all bold meant.

There is the ever-reliable Urban Dictionary:

bold font method
This is a form of studying where one skims through a text and simply memorizes/learns everything in bold or italicized.
Do you want to meet up cram for tomorrow's Ochem test?

Nah, I'm done studying.

Really? You must be really organized to be able to study ahead of time.

Nah, I used the Bold Font Method...if it's bold I memorized it. >70% of every test is based off bold font in books.
- -

I made that all Italics because it is a direct quote.
- -
Then there is this:

Bold strongly stands out from regular text, and is often used to highlight keywords important to the text's content and allowing such words to be visually scanned with ease.
- -

Again I used Italics because it is a direct quote.

Of course, following that meaning, the OP contained a whole lot of keywords, so many so that all of them were highlighted, drawing an equal amount of attention to all of them, making none of them keywords.

I guess.

:confused:
 

silentg

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We find our timeshares a good value. If you were to rent a condo for a week at some resorts you would pay much more than your maintenance fee.
Did something happen at your resorts ( storm damage perhaps)?
We have been hit with assessment fees over the years but usually, for good reason. Updating remodeling or fixing roof etc.
At one time we had 7 timeshares but now we own 4. Making good use of our weeks most resales from TUG.
Silentg
 

easyrider

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I THINK I MADE CHANGES TO MY TIMESHARE PORTFOLIO QUITE A WHILE AGO. IF YOU ARE THINKING THAT DUMPING TIMESHARES HASN'T BEEN ONGOING FOR A LONG TIME, ESPECIALLY REGARDING THIS GROUP, YOU ARE LATE TO THE GAME. ;)

Bill
 

silentg

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I like to think I’ve rehoused my timeshare weeks.Everyone I’ve dealt with was happy to take them from me. I don’t stress about buying and selling them, of course if I didn’t have successful sales then I might be upset like the OP.
Silentg
 

OldGuy

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If you were to rent a condo for a week at some resorts you would pay much more than your maintenance fee.

Except, of course, if you rent from RCI or from an owner trying to recover a portion of their maintenance fee, both of which I do regularly.
 

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I think a lot of what it comes down to is what one paid in the first place for what they own. It didn't bother me to net about $1,000 when I divested by 6 Weeks after many years of use. Why? I only had a total of maybe invested $7,500 in them. I know I would have felt a lot different if $3,500 is the most I could get for a Week that cost me $35,000...

George
 

silentg

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Never payed much for a timeshare
 

silentg

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For many used timeshares, free is too expensive, especially in the long run.
In some cases you are right, but right now I’m ok with what we have.
 

joestein

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There have been and there will be implosions with certain older independent resorts. However you cannot treat these situations like peanut butter and spread it across the entire industry. I doubt the hotel branded timeshares will have issues.

If you believe otherwise, what is your evidence?

I am not sure what to make of that peanut butter line.
 

silentg

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I’ll make a
 

4Sunsets

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Dumping of timeshares is coming.....Prepare yourself for big maintenance fee increases and special assessments !!!! The timeshare crisis is upon us where late Fall, Winter and early Spring weeks are not worth what you are paying in maintenance fees, special assessments and other excuses to separate you from your money. The more people that dump their timeshares the more your fees will go up. I am not telling you to dump your timeshares. If you own several timeshares and plan on dumping them I would consult a good attorney first to see if something can be negotiated. There are some legal options. The years of getting good benefit from timeshares is almost over with because of management companies aka "CROOKS" and BOARD MEMBERS aka "CROOKS" who don't do their jobs and cause these outrageous increases in maintenance fees and special assessments above and beyond the cost of living increases. People with prime time Summer weeks are probably still getting a fairly good deal for their money. One day this will all end with a timeshare implosion. It is going to happen....it is just a matter of time. I don't think all Board members are crooks or all management companies are crooks but the proof is in the pudding after what I have seen with several complexes. Money is at the root of all this !!!!

Hi OceanBreeze,

I think you smell blood in the water :p The TS industry is certainly in a shake up phase and the fallout from the financial crisis is catching up to everyone for sure.

I *do* think a lot of smaller TS companies may get swept away once the final wave of the crisis catches up. As far as the big companies, MVC and Hilton and Wyndham seem to be holding their own.

Big shakeups have occurred (and are occurring) within MVC due to the merger. I do think there will be some shake up with regard to fees and assessments to catch up everything, especially for Vistana TS (westin/sheraton/etc) which were in limbo for a few years of ownership changes.

I *do* think MF are a bit out of control. I've certainly posted bunches about that. MVC MF went up even when costs in the economy were going down, and meanwhile some others were able to hold MF steady.

Honest conversation about MF is necessary for sure, especially at the ts meetings/board. I *do* at times find it disheartening that our cost / day of stays has never truly gone down and that for the same amount of money ($608 per night right now if I remember correctly based on all paids ins) we could stay in some very posh suites instead.

I *do* agree that it's disheartening that we could sometimes pay out of pocket and stay in the same places for 1/3 to 1/2 our total paid in cost. This for off season stays and what not.

But then I also remember the positives... So far TS owners don't have to pay hotel rate taxes for stays... So far TS owners at many locations don't have to pay daily resort and daily parking fees. These savings can actually be pretty huge, especially in Hawaii w 16.5-18% hotel tax and $30-40 daily parking and $25-35 daily resort fees. (YES I just defended TS :D)
 

bogey21

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.I doubt the hotel branded timeshares will have issues...If you believe otherwise, what is your evidence?

I have no evidence but my gut tells me MFs will increase faster at the hotel branded timeshares than at the HOA Controlled Independents. If I am right. they will be in serious trouble 10-15 years down the road...

George
 

T_R_Oglodyte

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I have no evidence but my gut tells me MFs will increase faster at the hotel branded timeshares than at the HOA Controlled Independents. If I am right. they will be in serious trouble 10-15 years down the road...

George
I think the hotel-branded operations will always want to funnel their frequent-staying members towards buying vacation ownership. To do that, they have to be sure that the timeshare maintenance fees always offer a value proposition over staying on-site via direct booking. That creates a cap on how high they can go with maintenance fees.

What the fees are at independent resorts won't matter much, because on the sales floor buyers aren't making that comparison.
 
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