Does equity expire or diminish after one year?

[Hgvcowner2]

Looking to transfer deeds to lower MFs. Rep keeps saying after one year from our last deed transfer/purchase they will not apply our full initial purchase amount so we must take action now. Is this true?

We are thinking of waiting until summer to see if any vegas / blvd options open up. Appreciate your feedback.

 

[dayooper]

Looking to transfer deeds to lower MFs. Rep keeps saying after one year from our last deed transfer/purchase they will not apply our full initial purchase amount so we must take action now. Is this true?

We are thinking of waiting until summer to see if any vegas / blvd options open up. Appreciate your feedback.

I guess I’m not sure why you would do that. What would be the break even cost of “trading in” versus keeping what you own? How many years will it take for the additional money you spend “trading in” be off set by the decreased MF’s? It defeats the purpose of lowering your MF’s by a couple of hundred dollars a year if you are paying $15000 - $20000 more to do so. Even a $5000 upfront cost with a $500 lower MF would would take 10 years to realize any benefit from that transaction.

As far as your question goes, it sounds like a sales weasel is trying to pressure you to pay their commission.

 

[GT75]

Is this true?

The simple as is that it was a lie.

 

[brp]

The simple as is that it was a lie.

In fact, even though we've bought resale years ago, and the original purchase was some years before that, they have kindly "offered" to apply the full initial value toward our trade-in.They win, you lose on a trade in. They know that, so they are happy to offer "full value."

Cheers.

 

[Hgvcowner2]

We own 2 deeds at Parc Soleil mf s about 3k. Rep says buy $15k at kingsland or 10k at trump lv to lower fees almost $1k.
We asked for inventory at Blvd they said sold out. Any expert advice is highly appreciated!

 

[natarajanv]

We own 2 deeds at Parc Soleil mf s about 3k. Rep says buy $15k at kingsland or 10k at trump lv to lower fees almost $1k.
We asked for inventory at Blvd they said sold out. Any expert advice is highly appreciated!

How many points and what season do you own at PS?

 

[SmithOp]

We own 2 deeds at Parc Soleil mf s about 3k. Rep says buy $15k at kingsland or 10k at trump lv to lower fees almost $1k.
We asked for inventory at Blvd they said sold out. Any expert advice is highly appreciated!

Simple, stop buying from HGV salespeople and buy resale!

Welcome to TUG, stick around, read and learn about the benefits of resale.

Sent from my iPad using Tapatalk Pro

 

[presley]

They have always taken a trade in contract at full value when you are willing to shell out more money for a more expensive contract. I wouldn't do business with that person at this point.

Additionally, have you looked at overall costs for the next 5-10 years? I'm talking purchase prices + taxes + MFs. Lowering your MFs might not pencil out if you are spending a lot more up front and hopefully you are not financing and paying interest on top of all of that other stuff.

There are a number of people who have purchased retail and then sold their contracts and bought a resale contract that was larger and had lower MFs. When they penciled it out, it was much cheaper to do it that way. You have to do the math and look at 5 years and 10 years in the least to figure it out.

 

[dayooper]

We own 2 deeds at Parc Soleil mf s about 3k. Rep says buy $15k at kingsland or 10k at trump lv to lower fees almost $1k.
We asked for inventory at Blvd they said sold out. Any expert advice is highly appreciated!

You are still looking at 10-15 years before you realize any savings from what you have now.

 

[Hgvcowner2]

How many points and what season do you own at PS?

14k prime season

 

[dayooper]

14k prime season

If you don’t have a loan on those, you could sell them. You wouldn’t get nearly as much as you paid for them, but you could purchase resale and save a bundle from what they are offering you. How many points are the 2 deeds you are looking at?

 

[Hgvcowner2]

Thanks so much everyone you are validating our gut / suspicions.
Related question, if we buy points in the secondary market, will those points count towards our status? And / or do those points get dumped into our existing dashboard... OR... are those points handled separate?

 

[brp]

Thanks so much everyone you are validating our gut / suspicions.
Related question, if we buy points in the secondary market, will those points count towards our status? And / or do those points get dumped into our existing dashboard... OR... are those points handled separate?

They are added to the same dashboard.
They will not count toward status (there are a few exceptions on some properties where they do but, in general, no). Most believe that elite status is not worth the price diferential.

Cheers.

 

[PigsDad]

We own 2 deeds at Parc Soleil mf s about 3k. Rep says buy $15k at kingsland or 10k at trump lv to lower fees almost $1k.
We asked for inventory at Blvd they said sold out. Any expert advice is highly appreciated!

Warning: never take a salesman's word on the claim you will save $1K/year. Verify yourself what the MF would be on the new deed vs. your existing deeds. You can see the historical MFs for most deeds here on TUG.

So my questions would be:
1) What, exactly, do you currently own? For each deed, list the specific resort, unit size (1BR, 2BR, etc.), season (Platinum, Gold, etc.), room type (standard, Plus, Premium, etc.), number of points for each deed, annual or every-other year.
2) What is the deed that the salesman was proposing that you trade into? Same detail as above question.

If you answer those two questions, I will guarantee we can show you with much more clarity the true cost of the proposed "upgrade". I will bet anything that it is quite different than what you were lead to believe.

Kurt

 

[Hgvcowner2]

Warning: never take a salesman's word on the claim you will save $1K/year. Verify yourself what the MF would be on the new deed vs. your existing deeds. You can see the historical MFs for most deeds here on TUG.

So my questions would be:
1) What, exactly, do you currently own? For each deed, list the specific resort, unit size (1BR, 2BR, etc.), season (Platinum, Gold, etc.), room type (standard, Plus, Premium, etc.), number of points for each deed, annual or every-other year.
2) What is the deed that the salesman was proposing that you trade into? Same detail as above question.

If you answer those two questions, I will guarantee we can show you with much more clarity the true cost of the proposed "upgrade". I will bet anything that it is quite different than what you were lead to believe.

Kurt

2x - Park Soleil - 2 Bedroom - Annual Platinum Season - 7,000 PTS Each Deed (14,000 Total Pts)
$3,231 MF Total
Total of 2-Deeds
Proposing Trump Las Vegas - 1 Bedroom 9,300 pts and 1-Studio 5,250 pts Totaling 14,550 pts
$11,313 Total Cost (Includes Fees & Closing Costs)
MF - $2,291
Proposing Kingsland - 14,400 pts (Don't know Deed Type)
$17,024 Total Cost (Includes Fees & Closing Costs)
MF - $1,752
BONUS PTS - 8,000

 

[dayooper]

2x - Park Soleil - 2 Bedroom - Annual Platinum Season - 7,000 PTS Each Deed (14,000 Total Pts)
$3,231 MF Total
Total of 2-Deeds
Proposing Trump Las Vegas - 1 Bedroom 9,300 pts and 1-Studio 5,250 pts Totaling 14,550 pts
$11,313 Total Cost (Includes Fees & Closing Costs)
MF - $2,291
Proposing Kingsland - 14,400 pts (Don't know Deed Type)
$17,024 Total Cost (Includes Fees & Closing Costs)
MF - $1,752
BONUS PTS - 8,000

Do you have a loan on your current contracts?

 

[SmithOp]

Wow, you must have a lot of equity in those 2 parc deeds to get these offers.

I paid $13k for a resale Kingsland 14,400, its a 2br premier annual platinum. I think the 2020 maint fee went up to $1850. Thats actually not a bad offer at $17k with bonus points, if you didn’t have to give them back the Parc deeds . Original list price was $87k back in 2008, pre-construction pricing, I have the price sheet.


Sent from my iPad using Tapatalk Pro

 

[Hgvcowner2]

Do you have a loan on your current contracts?

No

 

[Hgvcowner2]

Do you have a loan on your current contracts?

No

 

[dayooper]

Do you have a loan on your current contracts?

No

You should be able to sell those on the resale market and purchase a great deed with a great MF fairly inexpensively.

 

[pianodinosaur]

@Hgvcowner2

Welcome to TUG. I have Elite Plus status. The benefits are not worth the increased cost of purchase. We have been with HGVC since 2001. We have used our membership for many fabulous vacations. Dayooper, Pigsdad, brp, presley, SmithOp, natrajanv, and our moderator, GT75, continue to educate me

 

[Hgvcowner2]

Thank you! My wife and I look forward to participating on this forum!

 

[natarajanv]

2x - Park Soleil - 2 Bedroom - Annual Platinum Season - 7,000 PTS Each Deed (14,000 Total Pts)
$3,231 MF Total
Total of 2-Deeds
Proposing Trump Las Vegas - 1 Bedroom 9,300 pts and 1-Studio 5,250 pts Totaling 14,550 pts
$11,313 Total Cost (Includes Fees & Closing Costs)
MF - $2,291
Proposing Kingsland - 14,400 pts (Don't know Deed Type)
$17,024 Total Cost (Includes Fees & Closing Costs)
MF - $1,752
BONUS PTS - 8,000

So, lets assume you want to sell it and buy resale.

This is the reality. Everyone wants to pay lower MF's unless it is a Hawaii or some desired Ski resorts, etc, etc. Those units are worth about $4K each in my opinion. Buy 2 LV paradise units for about 11K + $3000 closing/enrollment/trnsfer costs = $14K.

You have to decide whether it is worth doing it. The problem is everyone wants to buy LV units for lower MF, so it is going to be hard to find a buyer for PS units.

How long are you planning to keep it?

 

[brp]

So, lets assume you want to sell it and buy resale.

This is the reality. Everyone wants to pay lower MF's unless it is a Hawaii or some desired Ski resorts, etc, etc. Those units are worth about $4K each in my opinion. Buy 2 LV paradise units for about 11K + $3000 closing/enrollment/trnsfer costs = $14K.

You have to decide whether it is worth doing it. The problem is everyone wants to buy LV units for lower MF, so it is going to be hard to find a buyer for PS units.

How long are you planning to keep it?

I think that the people who know enough to think this way really are a very small set of the timeshare owners. It seems like common sense here, but we're living in a rarefied atmosphere on TUG. Just think about the number of people who haven't even heard of resale, much less MF ratios.

Even knowing a good bit about this (but not yet enough about the nuances of MF in HGVC) I bought a couple of Flamingo Gold weeks because the buy-in/point was lower than Platinum. Well, now I have some Platinum weeks and trying to sell the Gold weeks. Someone will buy them just as I did...eventually

Cheers.

 

[presley]

Elite benefits aren't worth anything in HGVC. There are a couple properties that have an Elite lounge - which I never used because when I travel, I'm out doing stuff the whole time. I know the one in Vegas had limited hours that I was never around for. The other "benefit" is that your room key says Elite on it.

The Elite benefits make a difference if you stay in the Hilton Hotels. Still, most people would say it's not worth it, but I like my bottle of water handed to me at check, front row parking and breakfast. I have Diamond status in Hilton by getting the American Express that costs $450/year. If you don't already have it, look into it. If you fly, you get a $200 airline credit, a resort credit at a few of the resorts (very limited on which resorts) a weekend night in one of the hotels and some other random stuff that can easily wipe out the $450. fee.