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Help on determining our timeshare's reasonable value

EagleEye

TUG Member
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Oct 2, 2017
Messages
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113
Resorts Owned
HGVC - Elara
Hi everyone,

I am new here. Wish I had found this place a couple of years ago – would be several thousand dollars wealthier.

My wife and I bought an Elara biennial timeshare in Las Vegas around Christmas 2014 – I don’t know what we were drinking. We bought into their whole spiel, ”this will only increase in value with time”, “Las Vegas is the most desirable place for timeshares”, etc., and I thought a golden week had to be the best (their idea of a “Golden” week is August in Las Vegas!).

We expected to only spend time in Las Vegas once in a great while. They seemed to have some reasonable ways to substitute points for cruises and time at other timeshares, so we caved and bought.

I went on disability a few months later and I'm still out. We have been using our points to go on cruises, and after a couple cruises using our points realize this is a ripoff also. $1,000 (for maintenance fees) I thought would at minimum take more than $1,000 off the cruise cost, but not the case. It ends up costing us about $300 more than what we could have obtained using expedia when taking into account the MFs.

I've been very busy trying to get healthy again, and my wife just works, works, works; now I'm beginning to pay more attention as I slowly recover. Since I now believe HGVC are pirates, I’m very concerned of MFs skyrocketing – it seems they have absolute authority to do whatever they please. They even had the gall to ask me to donate to their legal defense fund on our latest MF bill! I wish we had the sheets of paper they were scribbling all their lies on as evidence, but we were just soooo naïve. I think they were spiking the drinks. :) I’m amazed there are not any class action lawsuits against HGVC. I could not find any.

Anyway, we would very much like to get out of this timeshare. I don't like to do business with any entity this sleazy. I fear they will manage to take more of our hard earned money. It appears several of you here are making a go of it, but I'm afraid it takes more savvy than we have to deal with people who seem to have no conscience.

The principal is paid off, so I thought about just stopping payments on MFs. I know the hit on the credit rating might be substantial, but if this thing is worth absolutely nothing, perhaps it’s worth taking the hit.

I asked HGVC if they were interested in taking the deed back and was told no. They sent me over to HGVC resale who said that they would be able to sell it but it was only worth about $2,000 to $3000. Buuuut, I would have to sign up for a year-and-a-half exclusive contract with them to sell it. If I was not so untrusting of anything Hilton after this experience, I would probably have signed up.

So, I thought I would try to sell it on TUG. However, after perusing around TUG ads for a while I’m wondering if this thing is worth anything. I read through one of the stickies on the TUG Forum on how to sell your timeshare but immediately became confused on how to assess our timeshare's value (or perhaps should I say non-value). I see that some people in their ads have a week, while some people have points and a week. How does one compare the points versus a week in order to come up with a reasonable price? We have 5000 points but the contract also states that we have week 33 on odd years.


Very much appreciate any help.

EagleEye (not feeling so Eagle Eye'ish at the moment :))
 

geist1223

TUG Member
Joined
May 20, 2015
Messages
5,974
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5,728
Points
499
Location
Salem Oregon
Resorts Owned
Worldmark 97,000 Credits
DRI Cabo Azul 50,500
Royal Solaris San Jose del Cabo
First off don't try to compare weeks and points. That would be like comparing watermelons and cantaloupe. They are both generally round grow on a vine, and on the ground. Maybe that is too simular - how about a watermelon and a grape. They are both generally round in shape and grow on a vine.

So first off recognize you are going to lose money upon resale. Las Vegas is very over built for timeshares. Go off have have a stiff whiskey and when you are ready start researching. First part of research is to determine what it is you have. So do you have Points, a week, or a combination.

Go to EBAY, Market Place on TUG, SUMDAY, REDWEEK, etc and look for sales of your exact timeshare or as close as you can come. I don't think you will be happy with what you find. In the end you might have to give away this timeshare and offer to pay all closing costs and resort transfer fees.
 

T-Dot-Traveller

TUG Member
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Jun 10, 2015
Messages
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3,592
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Location
Canada
Resorts Owned
Mayan Palace Regency
Taranova
The value is all in use / ie better vacations and better family time with you hard working wife .

Since it is paid off - I would suggest figuring out how to better use ( than cruises ) .

something like 50 % of all TUG members bought from the developer ( I Did- 16 K ) - and are (now) happy using for better vacations .
Sunk money is sunk money - forget how you were sold / figure out how to use to your advantage .


There are TUG members who are HGVC owners .
You can read what they posted back to 2006 using the search function .

I know you feel ripped off and want to dump & run - BUT if you had a paid for VW diesel - would you give it away for $ 1 / or would you drive it and use it .
 

TUGBrian

Administrator
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amycurl

TUG Review Crew
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I would move this to the HGVC forum, where the OP will get the best advice from the experts in that system.


Sent from my iPad using Tapatalk
 

SmithOp

TUG Review Crew
TUG Member
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Jun 17, 2010
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7,610
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Location
Huntington Beach, CA
Resorts Owned
HGVC King's Land 2BR Premier 23.040K Points.
I sold an every odd year 8700 gold points (Hawaii) for $3000 on eBay, got the buyer to pay all the closing costs. I’d say yours is worth $1500-$2000 on the resale market. Legal Timeshare Transfer will handle the transaction for about $200.

Sorry you have such a low opinion of HGVC, once you use the product and stay away from the sales staff its not so bad. Any other use of points other than for timeshare stays is a sucker bet, bound to get less value than your annual maintenance fee.


Sent from my iPad using Tapatalk Pro
 

csodjd

TUG Member
Joined
Jul 4, 2017
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Location
So. California
Resorts Owned
Hilton Hawaiian Village - Lagoon Tower
Marriott Maui Ocean Club
We have 5000 points but the contract also states that we have week 33 on odd years.
This has to be sorted out. It ought to be one or the other, not both. No way to sell or value it until you know EXACTLY what you actually own.
 

Talent312

TUG Review Crew: Veteran
TUG Member
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Jul 4, 2007
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17,463
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Resorts Owned
HGVC & GTS
This has to be sorted out. It ought to be one or the other, not both.

Actually, it is. With HGVC, you are deeded a week; however, that week is kept by HGVC for "the club." In it's place, you are allotted points which represent what it would cost (in points) to use the week which you bought. IOW, you own a week, but it's the points you get to use.

The most cost effective use is to book stays at HGVC resorts.
Otherwise, try to give it away on the Bargains forum, or default and offer a deed in lieu of foreclosure.
.
 

alwysonvac

TUG Lifetime Member
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New Jersey
Resorts Owned
WORLDMARK, HGVC, VISTANA

SOLD (DVC, FSRC)
We have 5000 points but the contract also states that we have week 33 on odd years

It looks like you own a One Bedroom Grand during Gold Season based on the HGVC Points Chart

From the HGVC Elara Points Chart
Gold Season: Weeks 1-6, 23-34, 46-50
1 Bedroom 3400pts
1 Bedroom Plus 4000pts
1 Bedroom Grand 5000pts
1 Bedroom Grand Plus 5500pts
2 Bedroom 5800pts
2 Bedroom Plus 7000pts

Seth is one of the TUG recommended brokers. His site shows the following Elara prices but these are asking prices and you'll also have to subtract their commission. I would contact his office - http://www.sellingtimeshares.net/selling-timeshares/about-us/

From Seth's Hilton Listings - http://www.sellingtimeshares.net/category/hilton/
HGVC Elara Las Vegas Timeshare
Studio Annual Gold 1600 points $1,000.00
Studio Annual Platinum 2200 points $2,000.00
1 Bed Annual Platinum 4800 points $4,250.00
1 Bed Grand Plus Annual Platinum 7800 points $8,750.00​
 
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alwysonvac

TUG Lifetime Member
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WORLDMARK, HGVC, VISTANA

SOLD (DVC, FSRC)
Anyway, we would very much like to get out of this timeshare. I don't like to do business with any entity this sleazy. I fear they will manage to take more of our hard earned money. It appears several of you here are making a go of it, but I'm afraid it takes more savvy than we have to deal with people who seem to have no conscience.

Timesharing isn't for everyone.

It's best to use your points for timeshare stays. There is the initial buyin cost and the ongoing Club cost (Maintenance Fees, reservation fees, etc) which will continue to increase over time. High demand travel dates (when most folks want to travel) and/or high demand locations require booking months in advance due to the competition.

If a Hawaii vacation is on your bucket list, I would look into booking a Hawaii timeshare stay at one of the HGVC resorts on Oahu and/or the Big Island. Hawaii hotel accomodations are expensive and at least you'll get some value out of your ownership before giving it up.
 
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csodjd

TUG Member
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So. California
Resorts Owned
Hilton Hawaiian Village - Lagoon Tower
Marriott Maui Ocean Club
I think the OP would benefit by really getting a good understanding of what they bought and can do with it. 5000 points is enough for a week in Hawaii, as stated above, if you're a bit flexible on when you go. Or a week at lots of places. OP just needs to learn how to use points to make Club reservations. I just used points to reserve a week in a 2-bedroom in the Lagoon Tower at Waikiki for June next year. A 1-bed would have been < 5000 points.
 

Panina

TUG Review Crew: Elite
TUG Member
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Jul 13, 2015
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Florida
Resorts Owned
Hgvc Anderson, Blue Ride Village Resort
Hgvc is a very good system. You can learn so much here on tug on how to use your points. .

You can always unload it, there will always be a taker if you give it away or price it where it needs to be.

Meanwhile I suggest you give it another try. Let go of how you got it and your disappointment . Maybe if you use it in the best way you will like it like many of us do.
 

clotheshorse

TUG Member
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Mar 13, 2014
Messages
200
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15
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128
Location
Southern California
Resorts Owned
Vistana (VV x 2), Hyatt KW, Hilton (3x), Tahiti Village
The value is all in use / ie better vacations and better family time with you hard working wife .

Since it is paid off - I would suggest figuring out how to better use ( than cruises ) .

something like 50 % of all TUG members bought from the developer ( I Did- 16 K ) - and are (now) happy using for better vacations .
Sunk money is sunk money - forget how you were sold / figure out how to use to your advantage .


There are TUG members who are HGVC owners .
You can read what they posted back to 2006 using the search function .

I know you feel ripped off and want to dump & run - BUT if you had a paid for VW diesel - would you give it away for $ 1 / or would you drive it and use it .

I agree, we also bought our first timeshare from the development (~16K and found the same week 10 years later for $1 - we couldn't believe it until we found TUG). We have bought several resale contracts and loving the flexibility and knowledge that we spend less than 10K on 8 different contracts between Hilton, Hyatt and Vistana.
 

HudsHut

TUG Review Crew
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Hi EagleEye
Welcome to TUG.
You didn't say where you live, or whether you are able to travel, or have the funds to take a vacation. Hilton has gorgeous resorts on Oahu and the Big Island. They also have several resorts in Orlando and in Hilton Head/Myrtle Beach. If you can afford it, you should take a vacation at one of the properties and enjoy your purchase.

You are in no way limited to the underlying week you own. You own 5000 points which can be used anywhere in the HGVC system. If you can afford it, check out the points charts for HGVC and see where you might be able to make a reservation.

If, at this time, you need to cut costs and save to get back to where you can spend money on vacations, then contact Seth Nock, and get this sold.
Good Luck.
 

EagleEye

TUG Member
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Oct 2, 2017
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Resorts Owned
HGVC - Elara
Thanks very much for all of your comments. I very much appreciate all of the useful info.

From your comments, you have persuaded me to give HGVC another try
From all of the lies told to us at the sale, I became convinced HGVC was a ripoff.
This coupled with the fact that I just didn't have the time to understand how the system works, I just wanted to give up on it.
We have always just taken vacations when we could squeeze them in because we are so busy.
Now that I have made some progress on my health and have more time to understand how to get some payback from our outlay, DW and I will make more long range plans for a vacation at one of the HGVC properties.

Thanks again!

How about using our points to go to an RCI resort? Is this a reasonable option in case HGVC doesn't have a place we wish to visit?
 

1Kflyerguy

TUG Review Crew: Veteran
TUG Member
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Nov 20, 2012
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Location
San Jose, Ca
Resorts Owned
HGVC Kings Land, Elara, and Marriott Destination Club Points
Thanks very much for all of your comments. I very much appreciate all of the useful info.


How about using our points to go to an RCI resort? Is this a reasonable option in case HGVC doesn't have a place we wish to visit?

Yes, RCI can be a good value. However the quality of the resorts can vary, so you need to be a bit more careful and do some research before you book. I would check the resort website, and online review sites such as TripAdvisor or the TUG review section.
 

hurnik

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I think possibly HGVC can do a better job educating the members on how to use points. To that end, I see those new workshops actually do that. I wish they had one close to me, just so I can try to win the raffle prize. LOL!
 

RX8

TUG Member
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May 5, 2011
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HGVC and DVC
I recently attended the membership workshop in Philly. It is highly recommended for those unsure of how the program works. They really take you by the hand through the basics. If anything you will come away with a little more confidence about your ownership and how to make good use of it. That’s all I came away with because I didn’t win one if the raffles.

You can see my recap in the HGVC forum.

If you happen to get an email about a workshop coming to your area by all means sign up!
 
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