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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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    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,
     
  2. oceanbreeze

    oceanbreeze Guest

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    I used bold print so it would be easier to read for me and others.
     
  3. WVBaker

    WVBaker TUG Member

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

    OldGuy Guest

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    I use regular print mostly, to make it hard to read.

    ;)
     
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  5. GetawaysRus

    GetawaysRus TUG Member

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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!!
     
  6. OldGuy

    OldGuy Guest

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

    :cool:
     
  7. Tamaradarann

    Tamaradarann TUG Review Crew: Veteran TUG Member

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    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.
     
  8. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    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.
     
  9. PigsDad

    PigsDad TUG Member

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    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
     
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  10. OldGuy

    OldGuy Guest

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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?
     
    Last edited: Jun 12, 2019
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  11. OldGuy

    OldGuy Guest

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    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:
     
  12. silentg

    silentg TUG Review Crew: Expert TUG Member

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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
     
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  13. easyrider

    easyrider TUG Review Crew: Expert TUG Member

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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
     
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  14. silentg

    silentg TUG Review Crew: Expert TUG Member

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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
     
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  15. OldGuy

    OldGuy Guest

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    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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  16. bogey21

    bogey21 TUG Member

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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
     
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  17. silentg

    silentg TUG Review Crew: Expert TUG Member

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    Never payed much for a timeshare
     
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  18. OldGuy

    OldGuy Guest

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    For many used timeshares, free is too expensive, especially in the long run.
     
  19. silentg

    silentg TUG Review Crew: Expert TUG Member

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    In some cases you are right, but right now I’m ok with what we have.
     
  20. joestein

    joestein TUG Member

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

    silentg TUG Review Crew: Expert TUG Member

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    I’ll make a
     
  22. OldGuy

    OldGuy Guest

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    me too
     
  23. 4Sunsets

    4Sunsets Guest

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    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)
     
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  24. bogey21

    bogey21 TUG Member

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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
     
  25. T_R_Oglodyte

    T_R_Oglodyte TUG Lifetime Member

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    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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