Make Sense to Purchase Lakeshore Reserve?

[dioxide45]

That was a steal in my opinion.

It wasn't a deluxe though, just a standard 2BR. I had a coworker score a 3BR unit for $3500.

 

[dioxide45]

It was not a deluxe unit though. I don't know about steal though. Last year I had a 2br unit at lake shore for $2000 closing costs included. Owner told me it was deluxe and when I called mvc found out it was a regular 2br. Asked the owner if they could reserve a townhouse and was told there were no townhouse units at lakeshore. Pretty much verified by that statement that this was not a 2br deluxe unit.

Anyone know of an easy way to verify the 2br deluxe units?

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If you have the unit number, you can check it against the building plans that are part of the condo docs.

 

[capjak]

He did come back later and offer me a deluxxe for the same price. At that point I felt soured on any purchase and decided I could wait till 2019 reservation as I already had Lakeshore reserved for 2018 via points.

 

[frank808]

It wasn't a deluxe though, just a standard 2BR. I had a coworker score a 3BR unit for $3500.

For an annual? If it is that is a great price.

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[dioxide45]

For an annual? If it is that is a great price.

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Yes, it was an annual 3BR. Though the MFs are $2300, and they did have to pay for the 2018 usage.

 

[frank808]

Yes, it was an annual 3BR. Though the MFs are $2300, and they did have to pay for the 2018 usage.

Hmm... i think i will stick to the 2br deluxe. I am wanting lakeshore reserve for the day use privledges and the lock off ability into two 1br units.

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[pedro47]

Hmm... i think i will stick to the 2br deluxe. I am wanting lakeshore reserve for the day use privledges and the lock off ability into two 1br units.

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Good point if you live in the area the day use privileges can be worth $50.00 per usage (just guessing at the cost; could be more of less).

 

[Saintsfanfl]

Good point if you live in the area the day use privileges can be worth $50.00 per usage (just guessing at the cost; could be more of less).

I bought specifically for day use. I waited 3 years for the prices to drop below $5k. I rent my week out for a little over maintenance fees. Even if I had a deluxe unit I would not deposit the double 1BR units. I would reserve the townhouse and rent it out. There are much cheaper traders out there.

The prices have dropped so much in the last year+. I expect them to drop quite a bit further in the next year.

 

[frank808]

I bought specifically for day use. I waited 3 years for the prices to drop below $5k. I rent my week out for a little over maintenance fees. Even if I had a deluxe unit I would not deposit the double 1BR units. I would reserve the townhouse and rent it out. There are much cheaper traders out there.

The prices have dropped so much in the last year+. I expect them to drop quite a bit further in the next year.

What are the mf for 2br deluxe. Will a 2br townhouse rent for $1800 to $2000? I take it that the mf for 2br deluxe is no more than $2000. Might have to look into renting out the unit instead of depositing to II.

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[Saintsfanfl]

What are the mf for 2br deluxe. Will a 2br townhouse rent for $1800 to $2000? I take it that the mf for 2br deluxe is no more than $2000. Might have to look into renting out the unit instead of depositing to II.

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You can easily get that or more for a regular 2BR for President's or Passover week during premier platinum. I am not sure about Christmas or New Years for the Platinum Season. I am guessing it would be about the same.

The week is important. I doubt a random summer week would fetch nearly as much but I'm not sure. There are people out there that like to stay at Grande Lakes and word of mouth spread that they can book much larger units at Lakeshore for a small fraction of the cost at JW and Ritz.

I generally just try and break even plus maybe $50 or $100 and get the money before the maintenance fees are due. It is easy to rent before sue date for the spring but not so much for weeks 51/52.

 

[frank808]

Would not buy from this Thomas Ochoa. Had a conversation with him just now and he gave me prices for a couple of marriott units. Then I gave him a counter of $1500 less than his asking, since I wanted to purchase both units at once. Instead of saying that my counter was too low and he is non negotiable, he goes on to insult me and tell me I was wasting his time! I can't believe you talk to customers that way. Stay away from this group and capnjack I think you were lucky not to purchase from them.

 

[capjak]

Sorry to hear that.

 

[1timeshare]

The front desk is not always right. I called to confirm a unit type for a coworker and they said it was a 2BR lock off. The coworker was buying a 3BR unit. The front desk failed to indicate that the unit was a 2BR master side of the 3BR lock off. So they were still buying a 3BR. If you want to PM me the actual unit number, I can confirm in the CC&Rs what the actual deeded unit type.

I just found your ROFR database - what a fabulous resource. You deserve a lot of credit for maintaining that! Thank you.

What do you think the lowest ROFR exercise price is at Lakeshore Reserve?

I was told that Desert Springs Villas I are not subject to ROFR. Apparently that is bad information...

Thank you, Wayne

 

[TheTimeTraveler]

I just found your ROFR database - what a fabulous resource. You deserve a lot of credit for maintaining that! Thank you.

What do you think the lowest ROFR exercise price is at Lakeshore Reserve?

I was told that Desert Springs Villas I are not subject to ROFR. Apparently that is bad information...

Thank you, Wayne

I am not sure if you can put a lot of weight on the ROFR database for Lakeshore Reserve. Why? Not a lot of units there, and not a lot of turnover.

Additionally, it is always a moving target, i.e. Marriott's needs tomorrow versus today, how many Marriott customers waiting in the wings for a resale week, etc.




.

 

[dioxide45]

I just found your ROFR database - what a fabulous resource. You deserve a lot of credit for maintaining that! Thank you.

What do you think the lowest ROFR exercise price is at Lakeshore Reserve?

I was told that Desert Springs Villas I are not subject to ROFR. Apparently that is bad information...

Thank you, Wayne

I do know someone who got a 3BR Platinum season Lakeshore Reserve a little over a year ago for only $3500. I think the threshold may be a little lower and prices are pushed south because of the higher MFs that exist at Lakeshore Reserve. I think that 3BR unit has a $2300+ annual MF.

Desert Springs Villas I does indeed not have ROFR, II does have ROFR. If a broker or someone else is telling you there is ROFR, they are probably doing it to try to get you to increase your offer price or perhaps they said it failed because they thought it sold too low and were going to try to relist it. This has been seen before with some Ebay sellers.