HICV owner update, possible regret turning sales offer down

[Caligirlfrtx]

Strange I know but...I'm kinda regretting NOT accepting what was offered at our last update. It would have been canceling my Az deed and switching it to South Beach points which would have at least been resealable. I don't remember all the details but it was @.17 per point (my low price per point I bought into which expires soon) and some other perks, no down payment etc. He also said our MF wouldn't start till 2019 so this yr we'd be MF free. Only problem is that I just paid them.

It was annual. He said that because it would be a whole new contract, we would not have to pay the MF for 2018. He said he would give us the "preferred level for a yr. to see how we like it.

We didn't get copies of the offer so I don't remember the points but we currently own 125,00 in Az and he kept pushing that we needed more in order to have a two bedroom for a full week. I outwitted him several times, thanks to TUG but now that I'm looking back, should I have gone for his deal? Did I do good being strong or did I make a mistake?

 

[simpsontruckdriver]

Nope, just sit back and enjoy what you have! It is true that if you sell your non-South Beach it will revert to a week and be worthless. Even a South Beach Points program will lose money. BUT, you can still use it, it is still worth it to keep it. If you don’t have enough points for a desired week, you can either borrow from next year’s points, or rent from an owner here on TUG.

TS

 

[Tank]

Look for resales from South Beach, Gatlinburg , or Lake Geneva
All HICV point resorts and as a points owner will show up in your account to use for your vacations.
The level you are referring to has little value vs the saved money

 

[skotrla]

Strange I know but...I'm kinda regretting NOT accepting what was offered at our last update. It would have been canceling my Az deed and switching it to South Beach points which would have at least been resealable. I don't remember all the details but it was @.17 per point (my low price per point I bought into which expires soon) and some other perks, no down payment etc. He also said our MF wouldn't start till 2019 so this yr we'd be MF free. Only problem is that I just paid them.

It was annual. He said that because it would be a whole new contract, we would not have to pay the MF for 2018. He said he would give us the "preferred level for a yr. to see how we like it.

We didn't get copies of the offer so I don't remember the points but we currently own 125,00 in Az and he kept pushing that we needed more in order to have a two bedroom for a full week. I outwitted him several times, thanks to TUG but now that I'm looking back, should I have gone for his deal? Did I do good being strong or did I make a mistake?

Paying $0 and owning a unit worth $0 when you decide to sell it is better than paying the developer $20K to make your unit resellable for $2K. If you have points now, buying a resale unit at a points resort (Lake Geneva, South Beach, Smoky Mountain) is your best bet to get more points. I maintain a list of points units for sale via resale - message me if you are interested in getting the link.

-Scott
Owner, HICV Google+ Group

 

[Caligirlfrtx]

Look for resales from South Beach, Gatlinburg , or Lake Geneva
All HICV point resorts and as a points owner will show up in your account to use for your vacations.
The level you are referring to has little value vs the saved money

What about a resort I heard of called Snowdance Mt. Ascutney , this resort was listed in a HICV team newsletter that went out about resale. I've only ever heard of the three you listed. Does anyone know the story on this one?

 

[Tank]

It will be a week only ownership when bought , you will have to convert to points for big bucks.

Dave

 

[simpsontruckdriver]

https://www.ihg.com/holidayinnclubvacations/hotels/us/en/brownsville/avtcv/hoteldetail

 

[skotrla]

What about a resort I heard of called Snowdance Mt. Ascutney , this resort was listed in a HICV team newsletter that went out about resale. I've only ever heard of the three you listed. Does anyone know the story on this one?

What do you mean by the resort being "listed in a HICV team newsletter about resale"? HICV has almost 30 resorts that have regular activity on the resale market. Are you saying that it was singled out with the other 3 points resorts?

-Scott
Owner, HICV Google+ Group

 

[Ademola Ajibade]

Paying $0 and owning a unit worth $0 when you decide to sell it is better than paying the developer $20K to make your unit resellable for $2K. If you have points now, buying a resale unit at a points resort (Lake Geneva, South Beach, Smoky Mountain) is your best bet to get more points. I maintain a list of points units for sale via resale - message me if you are interested in getting the link.

-Scott
Owner, HICV Google+ Group

Hello Scott
Can you send me a list of the points for resale. I currently own a silverleaf week and I am being offered $7000 to buy 35000 points in order to convert to the point system.

Regards

 

[Bmatrose]

I paid $5500 for 45,000 points a few years ago to convert but from what I hear, what they are offering you sounds reasonable compared to what others are getting. How many total points will you have after conversion?

 

[skotrla]

I paid $5500 for 45,000 points a few years ago to convert but from what I hear, what they are offering you sounds reasonable compared to what others are getting. How many total points will you have after conversion?

Agreed that's better than the $5K retail purchase for each 25K in resale conversions that was quoted starting mid 2017.

-Scott

 

[silentg]

We have 127,000 points in HIVC we converted our studio for a 2 bedroom at Orange Lake 8 years ago.
We use this for IHG points to travel to our vacations. Usually book a night on the way to and back from a destination.
We were able to book 6 nights at the Crown Plaza in Rome,Italy before our week in Ireland in 2015.
Have you put your points in IHG? This has worked out for us and since we live close by we have day use at Orange Lake too! Also we kept 27,000 point in HIVC for a short stay at one of the affiliates.
Silentg

 

[skotrla]

We have 127,000 points in HIVC we converted our studio for a 2 bedroom at Orange Lake 8 years ago.
We use this for IHG points to travel to our vacations. Usually book a night on the way to and back from a destination.
We were able to book 6 nights at the Crown Plaza in Rome,Italy before our week in Ireland in 2015.
Have you put your points in IHG? This has worked out for us and since we live close by we have day use at Orange Lake too! Also we kept 27,000 point in HIVC for a short stay at one of the affiliates.
Silentg

The going rate for IHG points on the IHG website is $115 for 20K = $5.75/1K (using Points + Cash).

To get points that cheap with HICV points, your maintenance has to be $3.91/1K - $391 for 100K HICV points + $69 IHG conversion = $460 for 80K (100 x 4/5) IHG points.

IHG conversion is better than not using points, but not an efficient planned use of points - if you are consistently doing this, you should really look at reducing your HICV holdings.

-Scott

 

[MoneyBear]

Scott-

We are rescinding a purchase that was made at a resort on Tuesday of this week (largely based on info that we found here on TUG). As such, we are shopping the secondary market for points. I'd like to get a copy of that list you mentioned above, if still current and available. Thanks!

 

[TUGBrian]

Scott-

We are rescinding a purchase that was made at a resort on Tuesday of this week (largely based on info that we found here on TUG). As such, we are shopping the secondary market for points. I'd like to get a copy of that list you mentioned above, if still current and available. Thanks!

congrats on finding TUG in time to save a fortune and make a better decision on your vacation ownership!