Interested in buying cheap

[Ridewithme38]

It's hard to say if they will have any value in 40+ years, but right now I think you could give both of them away - especially if you paid the fees, and threw in a year's maintenance fees.

 

[Carolinian]

In my first few years on my HOA board as 1st VP, part of my portfolio was HOA resales, so I had a front row seat to watch this happen. I got us into selling on eBay and also the old Yahoo auctions before that. We sold down to about 4 or 5 weeks when we had to do a lot of hurricane repair and were off the market for an extended period. Prior to that, our weeks always sold on eBay. Most of them were blue weeks and they brought $200-500 each. White weeks brought $500-1,000 and the occaisional pink week brought $1500-2000. After the hurricane, in checking eBay we found a number of new sellers with substantial inventory, much lower prices, and weeks starting not to get any bids. Only later did we discover that these were people selling for the PCC's. The change in eBay was dramatic when these people showed up. We moved to other markets after that for our resales.

In terms of other markets, I still watch Outer Banks timeshare sales even from thousands of miles away. It is easier than most, as the local land transfer tax has more stringent requirements, including a notarized affidavit subject to perjury laws as to price, than the state deed tax stamps so the prices tend to be accurate unlike the deed tax stamps. Also, the way the county website is organized by going to land transfer taxes approved, one can pull out the timeshares fairly easily, something you could not do with the register of deeds webpage. I have reported some of those comparisions on this and other timeshare sites. Generally, the average sale prices from all markets is substantially higher than eBay, eBay represents only a tiny fraction of overall resales, and both price and volume have fallen only marginally since the 2008 economic crash. That is the OBX area. YMMV as to other areas.

From what I have seen, most timeshares are sold on local rather than national markets. Each one of those is relatively small, but the sum total of them overwhelms eBay in volume.

I'm still not with you on this.

It's pretty much like a garage sale, you can price your items so they sell or you can price them so you can try to get a better price, but may have to keep trying to sell them over and over again.

Not all TSs on eBay go for a dollar but many go unpurchased with even a minimum bid of $1. If they can't get a dollar on eBay, I'm not sure there is a more diverse outlet that they can or should use to try to get more.

I still don't think this is a conspiracy to keep the prices down. I think it's a reflection of what may timeshares are really worth.

 

[Carolinian]

I just went back and found the data I had posted a few months ago from my latest resale comparisions on the Outer Banks[/I]:

Putting it all together on resales in Nags Head and Kill Devil Hills, comparing August through December 2007, before the great recession and August through December of 2011 yields the following:

2007

Prime Red - 33 sales, average price $7177
Pink - 50 sales, average price $2333
White - 10 sales, average price $1125
Blue - 18 sales, average price $519

2011

Prime Red - 15 sales, average price $8020
Pink - 47 sales, average price $2322
White - 5 sales, average price $240
Blue - 20 sales, average price $490

This shows a bit over a 20% drop in volume of sales, which is certainly not falling off the cliff, and it shows prices relatively stable. Blue and Pink weeks are selling at about the same volume each year. The difference in volume is mainly in the prime red weeks. Average prices for blue weeks and pink weeks are also remarkably stable. Prime red weeks also show a variance in price of only about 10%, and that has actually gone UP.

These are the best two OBX towns for this comparision as all resorts are owner controlled and no longer have developers actively selling. Hatteras doesn't have enought volume, with only one resort with 4 units, and Duck and Kitty Hawk have too much developer activity which distorts the results.

I would love to see some Tuggers run the numbers in some other resort areas, so we have real numbers from the broad market to compare, not just impressions from the eBay bargain basement.

One cavaet on blue weeks is that Thanksgiving week usually sells for a lot more than any other blue week on the OBX, and if you excluded the week 47's the average price for blue weeks would drop substantially.

 

[MaryH]

I don't think there is a timeshare in Denver.. I don't think there is any in LA proper either, more in Anehiem. New Orleans has quite a few.

Paris has some timeshare on the edges of Paris and Marriot at EuroDisney and then Royal Holiday Club which can book the Citadines Bastille Gare de Lyon is in the 12th arr, London and SF but not an easy or painless one to get into.