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

Discussion in 'US - Eastern States Timesharing' started by oceanbreeze, Jun 9, 2019.

  1. oceanbreeze

    oceanbreeze Guest

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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 !!!!
     
  2. VacationForever

    VacationForever Tug Review Crew: Rookie TUG Member

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    What is the point of your post? Your post sounds like one coming from a timeshare "relief" company.

    No, the sky is not falling.
     
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  3. Panina

    Panina TUG Review Crew: Elite TUG Member

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    Ouch, sorry, seems your experiences have not been good. Mine for the most part have been very good and many of my timeshares have great management. Board members volunteer their time and most are looking out for owners interests. Yes there are exceptions.
     
  4. tonyg

    tonyg TUG Lifetime Member

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    Sounds like somebody heard a fire and brimstone speech and applied it to timeshares. In 1998 the average timeshare maintenance fee was around $1,000 a week. It might be a good thing if a few resorts went belly up and resulted in charges being filed against board members and management. We survived the financial crisis in 2008, so I don't foresee the timesharing world collapsing without something far worse happening.
     
    Last edited: Jun 9, 2019
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  5. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    THE SKY IS FALLING! THE SKY IS FALLING!
     
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  6. DaveNW

    DaveNW TUG Review Crew: Expert TUG Member

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    Whew! Good thing I don't own any timeshares anymore! I already dumped all mine.

    Dave
     
  7. RX8

    RX8 TUG Member

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    What exactly have you seen?
     
  8. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    I tried to dump 'em, but they keep plugging the toilet!
     
  9. CalGalTraveler

    CalGalTraveler TUG Member

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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?
     
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  10. DavidnRobin

    DavidnRobin TUG Member

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    Send me money and I won’t get rid of your timeshare for you - but claim I will.


    Sent from my iPhone using Tapatalk
     
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  11. Bucky

    Bucky TUG Member

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    Sounds like a typical troll with nothing better to do!
     
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  12. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    A lot of speculation without any sort of citation or facts to back it up?
     
  13. Roger830

    Roger830 TUG Member

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    South Florida in the winter has the highest resale prices of any season, then the summer, followed by the fall according to the county database.
     
  14. tonyg

    tonyg TUG Lifetime Member

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    After a night's sleep, there is no sudden problem happening. Off season weeks have always been a problem in places where there are low seasons. It is something HOAs and management have to constantly work at by keeping those weeks under ownership.When those weeks get foreclosed on or "dumped", it's the high season weeks that are affected by increased fees. It is also the reason why some summer spots have limited availability and little new resorts being built.

    I also recall a time (2003-2004)when we had a poster here named "Chicken Little". It is also probably a good idea not to talk about his activities or actual identity tho.
     
  15. oceanbreeze

    oceanbreeze Guest

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    Well I guess people did not read the whole post by some of the replies I got. No I would never work for one of those "get rid of your timeshare companies". Some of the comments were positive and some were personal attacks. The area I speak of is Atlantic Beach, North Carolina....the resorts are Peppertree Atlantic Beach, A Place at the Beach III and Sands Villa. I think Sands Villa is the best timeshare complex in that area. I used to feel that way about Peppertree AB but their maintenance fees have gone through the roof. APATB III can be good by being able to purchase units very cheaply if you know where to buy them but their maintenance fees keep climbing and there is no end in sight. I think I will soon be rid of most of my timeshares. I did consult legal help before starting the process.
     
  16. RX8

    RX8 TUG Member

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    I am not familiar with these timeshares. Other than the MF increases, what else is happening there for you to think the rug is going to be pulled out from under everyone?

    You consulted legal help before starting what process?

    Edited - can see from your prior posts you were upset over noise at APATB III (an RCI exchange) and Peppertree AB's land lost in a BK purchase.
     
    Last edited: Jun 10, 2019
  17. bogey21

    bogey21 TUG Member

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    I think we all know the problem. It is the MFs for the off season Weeks that are not being paid. This loss of income is being passed through to those with desirable Weeks increasing their MFs and decreasing their value....

    George
     
  18. easyrider

    easyrider TUG Review Crew: Expert TUG Member

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    Too funny. :D:D:D I'm still grinning.

    Bill
     
  19. Tamaradarann

    Tamaradarann TUG Review Crew: Veteran TUG Member

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    The point about "off season weeks" is very important to focus on. The maintenance fees for "off season weeks" is the same as for prime weeks. Many times "off season weeks" are during times when school is in session so that families can't go, or the weather is not desirable to vacation(off season). With the original weeks exchange system if you had an off season week you had a difficult time exchanging into a prime week at any resort. The points systems take that into consideration so that you get less points for purchasing an "off season week" and, therefore, you must use more points to exchange into a prime season week. To exchange into a prime week you either have to bank your points and exchange next year, borrow from your next year points, or you could exchange your yearly points allocation for only say 5 prime time nights. The new TPU system does the same type of thing.

    Therefore, while the owner of the "off season week" purchased at a lower cost, they get less utility from their annual maintenance fee purchase. Therefore, their ownership over time is less desirable causing a greater chance of maintenance fees not being paid and selling is more difficult.
     
  20. bogey21

    bogey21 TUG Member

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    As much as I prefer Fixed Weeks/Fixed Units and continue to believe Fixed Weeks are the way to go for those who use their Week year after year, I have to admit that Points Systems are a better alternative for those who want the flexibility to exchange...

    George
     
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  21. RX8

    RX8 TUG Member

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    I agree. Only after being in TUG for a long time did I finally purchase a timeshare. By that time I knew what I wanted and went looking for it. It provides the best of both worlds, IMHO. It is a fixed summer week in CA that gives me the option to swap for HGVC points. The summer week has been perfect for our family for the last 7 years so we haven’t yet swapped for HGVC points. With the boys growing older we might start looking at the HGVC options for next year.

    Even if we start using HGVC more in the future it is nice to know that we could always use the summer week any year we want, a place where we now have so many memories.
     
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  22. jhac007

    jhac007 TUG Member

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

    Tamaradarann TUG Review Crew: Veteran TUG Member

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    Points are the way to go from my experience. I have owned an RCI Red Time and a number of Hilton Platinum points timeshares since 2006 and rarely stay in what I own using my points. I usually exchange my points for some really great vacations totaling about 120 days a year. I get the maximum amount of exchanging power from RCI Red Time and Hilton Platinum Points. If I would own White or Blue RCI Time or Hilton Gold, Silver or Bronze Points I would be getting a lot less vacation for my maintenance dollars or I would have had to buy more timeshares to get the amount of vacation where and when we desire.
     
  24. Panina

    Panina TUG Review Crew: Elite TUG Member

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    I prefer my fixed weeks or flex weeks in resorts that are hard to trade into. I am guaranteed with my pure fixed weeks where and when and with my flex where. All my timeshares have the guarantee including hgvc I own by getting affiliates or mandatory resorts with a guaranteed holiday week. I still have the flexibility to trade within the hgvc point system, rci or II, the choices give me the best scenario.
     
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  25. OldGuy

    OldGuy Guest

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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.
     
    Last edited: Jun 11, 2019
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