Timeshare crunch - NYTimes article/ TUG and more mentioned

IreneLF · Jun 12, 2009

NY Times Article on Timeshares
I'm thinking I "know" the people pictured having seen their screen name on these boards...

avad88 · Jun 12, 2009

NY Times Article

Yes--I'm quoted in the New York Times article on timesharing.
I got a pm from Ms. Shevory asking if I would talk with her about buying and selling timeshares back in March. My sister writes for a newspaper in VA and I've always had a soft spot for reporters.
My only problem is did she have to put my AGE?????

Ava

timeos2 · Jun 12, 2009

Very nice

Very informative and factual article. Rare for the mainstream media. Is that OUR Rick & Cindy?

rickandcindy23 · Jun 12, 2009

It is us! Billymach let me know that the article was in today's issue, so I looked it up online.

The only thing I saw that was blatantly wrong, our resort is from the early 80's, not the 60's. And what do you think of our river view? The time of year we were there for the pic was mid-May, and it is just beautiful and warm. The photographer from the Times was amazed at the views from the units.

MULTIZ321 · Jun 12, 2009

To save you a copy and paste - here's the NY Times Article link

And Now, It's Crunch Time for Timeshares

Richard

PerryM · Jun 12, 2009

Hello - anyone home??

From the article:

"Timeshare companies now demand that buyers have higher down payments and good credit scores to qualify for a loan. At Marriott International, 80 percent of buyers used to receive financing, but now only half do, said Ed Kinney, vice president for corporate affairs at Marriott Vacation Club International in Orlando. Wyndham, which once required a 10 to 15 percent down payment, has since increased it to 15 to 20 percent, Mr. Holmes said."

Wow!

Now is the time to tighten up the credit requirements? Who came up with that bright idea?

Real estate across the USA is down 25% - resort areas are hit much much more.

How about just reducing the selling price Marriott?

Did anyone ever think of that?

Hello??

ijohns · Jun 12, 2009

I am the India Johns quoted in the article. We still own unfortunately own our timeshare, do not use it, cannot afford it and have not worked out anything with OLCC.

Bill4728 · Jun 12, 2009

NYTimes said:
“This is the best time to buy and the absolutely worst time to sell,” said Brian Rogers

This is so true. The deals for someone buying a TS are so good. And that means that anyone trying to sell is taking a huge hit.

Steve · Jun 12, 2009

PerryM said:
How about just reducing the selling price Marriott?

Did anyone ever think of that?

Hello??

Hello?? Guess you missed Marriott's 25% off sale.

Steve

PerryM · Jun 12, 2009

Does TARP cover timeshares?

Steve said:
Hello?? Guess you missed Marriott's 25% off sale.

Steve

Sales are one time events - how about permanently reducing the prices of ALL Marriott units a flat 25% to 50%?

Why are timeshares not subject to the forces of the free market like the rest of real estate?

(Are timeshares getting TARP money? If so, raise the prices!)

wackymother · Jun 12, 2009

rickandcindy23 said:
It is us! Billymach let me know that the article was in today's issue, so I looked it up online.

The only thing I saw that was blatantly wrong, our resort is from the early 80's, not the 60's. And what do you think of our river view? The time of year we were there for the pic was mid-May, and it is just beautiful and warm. The photographer from the Times was amazed at the views from the units.

Is this the reason you were looking for a copy of the NY Times? Were you able to find a paper copy?

rickandcindy23 · Jun 12, 2009

Yes, this is the reason, and I haven't even looked for the paper yet today. I have so much going on right now, including with the RCI loss of trading poewr issues.

I definitely have to get a paper for Rick's stepmom. She doesn't have internet, of course because she is 82, but she wants to show it off at the Elk's Lodge, and to all of her friends.

ricoba · Jun 12, 2009

Hey, this is kind of cool, thanks for sharing the link.

It's fun to see TUGGERS hit the big time in the NYT's! :cheer:

TUGBrian · Jun 12, 2009

yep, some good articles coming out recently in major media outlets...gotta get the word out somehow!

gmarine · Jun 12, 2009

Good article. Good pictures too!!

wackymother · Jun 12, 2009

I saw you there, gmarine!

Bwolf · Jun 12, 2009

rickandcindy23 said:
Yes, this is the reason, and I haven't even looked for the paper yet today. I have so much going on right now, including with the RCI loss of trading poewr issues.

I definitely have to get a paper for Rick's stepmom. She doesn't have internet, of course because she is 82, but she wants to show it off at the Elk's Lodge, and to all of her friends.

Can't you print the article in color and give it to her? Does she need the entire printed newspaper?

Stricky · Jun 12, 2009

Cool article. Nice job all.

rickandcindy23 · Jun 12, 2009

Bwolf said:
Can't you print the article in color and give it to her? Does she need the entire printed newspaper?

I think she would rather have the paper. It's early here, and I am working at home today and cannot leave my office to find one. I am going to make some calls to the various bookstores, which are all a distance away.

richardm · Jun 12, 2009

You can also purchase the tin plate used for the printing press (I haven't worked for a newspaper for a LONG time, but I assume the plates are still used in production!).. Makes for a unique gift- and isn't as fragile as a paper copy.

The cost was never much, since they don't have any other use and are simply detroyed after a short time.

DaveHenry · Jun 12, 2009

Cindy and Rick,
I saw your picture in the timeshare article in today's New York Times, along with the description of how your resort is giving away weeks!
I've read so many of your posts (and been helped by them) that I feel that I know you! Glad so see you in the NY Times!
Regards,
Dave

If you need a hard copy, pm me with your address and I'll send it to you.

taffy19 · Jun 12, 2009

rickandcindy23 said:
It is us! Billymach let me know that the article was in today's issue, so I looked it up online.

The only thing I saw that was blatantly wrong, our resort is from the early 80's, not the 60's. And what do you think of our river view? The time of year we were there for the pic was mid-May, and it is just beautiful and warm. The photographer from the Times was amazed at the views from the units.

Your river view is lovely, Cindy. It would be nice spending a vacation there in the summer or when there is snow.

Laurie · Jun 12, 2009

Wow - I'm putting Twin Rivers on my exchange wish list!

LisaH · Jun 12, 2009

Nice article!
Cindy, I always assume that the couple in your avatar is you and Rick. Doesn't look quite the same as the one in the article... May I ask who is that couple in your avatar? I'm a little confused here

rickandcindy23 · Jun 12, 2009

LisaH said:
Nice article!
Cindy, I always assume that the couple in your avatar is you and Rick. Doesn't look quite the same as the one in the article... May I ask who is that couple in your avatar? I'm a little confused here

That picture in the avatar is from our Hawaii trip on Maui four years ago, very shortly after I recovered from a serious health issue and was able to travel after a period of time of a few years when I just couldn't. I no longer dye my hair, and it was longer then, too. I think I should dye my hair again; I had no idea I was so gray! :rofl: Seriously, I look so old.

Timeshare crunch - NYTimes article/ TUG and more mentioned

IreneLF

avad88

TUG Review Crew: Elite

timeos2

Tug Review Crew: Rookie

rickandcindy23

TUG Review Crew: Elite

MULTIZ321

PerryM

ijohns

Bill4728

Steve

PerryM

wackymother

TUG Review Crew: Veteran

rickandcindy23

TUG Review Crew: Elite

ricoba

TUGBrian

gmarine

Tug Review Crew: Rookie

wackymother

TUG Review Crew: Veteran

Bwolf

TUG Review Crew: Veteran

Stricky

rickandcindy23

TUG Review Crew: Elite

richardm

DaveHenry

TUG Review Crew

taffy19

Laurie

TUG Review Crew

LisaH

rickandcindy23

TUG Review Crew: Elite