2 BR LO for sale on e-bay [SDO]

[patsim2000]

I am just wondering about this TS. Is it a true Platinum, was this unit value 148100SO. Item number 230752259459

2BR/2BA LOCKOFF (sleeps 8) - Red Season Float Weeks # 1-52
Deeded (wk 51, Unit # 305556)

Is it a good unit for a retro?

 

[levatino]

No, this is not platinum, it is gold season.

Platinum weeks are not floating 1-52. A search would show the exact floating weeks...

 

[DeniseM]

To be a true Platinum week at Sheraton Desert Oasis, the unit number must be in this range-

1064, 1072, 1081-1100, 2064, 2072, 2081- 2100, 3064-3072, and 3081-3100

AND

the deeded week must be in this range: 1-21, 50-52

Note that a 1-52 floating week may be deeded in the Plat season, but that doesn't make it a Plat week (it's Gold Plus.)

 

[levatino]

Denise,

I want to make sure i understand correctly: I take it you mean that even though this week is deeded week 51, it would need to be designated as a float 1-21, 50-52 to be platinum. Am I understanding you correctly?

Thanks,
Paul

"Note that a 1-52 floating week may be deeded in the Plat season, but that doesn't make it a Plat week (it's Gold Plus.)"

 

[DeniseM]

Gold Plus (1-52 floating) weeks were sold for every week of the year (I happen to own one that is deeded week 52) BUT the unit numbers are not in the required range, and that's how you can tell they are Gold Plus and not Plat.

Plat Unit numbers -
1064, 1072, 1081-1100, 2064, 2072, 2081- 2100, 3064-3072, and 3081-3100

So, it must be deeded during Plat season AND have a unit number in the above range, to be a Plat week.

 

[mandoggy]

What is the advantage of owning a true platinum?

 

[jarta]

mandoggy, ... "What is the advantage of owning a true platinum?"

1. There is no difference in MF between true Platinum and other SDO weeks.

2. There is no advantage for true Platinums in making home resort reservations at SDO. A 1-52 SDO can be reserved at 12 months from arrival every day of the year. One way of looking at it is that a 1-52 SDO week has even greater flexibility in making reservations at SDO than a true Platinum SDO week.

3. True Platinum weeks have no discernable advantage over other SDO weeks in II trading. The other SDO weeks will get you where you want to go in II.

So, IMO, the only advantage to true Platinum SDO weeks is that they can be retroed with a new developer expense of $20K (or more) and the 148,100 StarOptions thus obtained can be used for internal Starwood SVN trades, be converted into Starpoints or be counted toward an increase in Starwood Elite status.

(Anyway, if you have ever stayed at WKV and driven the 15 blocks to SDO, you will understand why most people prefer WKV over SDO as a place to stay.)

I think most TUG posters would not spend the additional $20K to retro a true Platinum SDO week. So, I do not understand the constant chatter on TUG about buying a true Platinum SDO week. ... eom

 

[krj9999]

There may be some advantage in TPU provided if trading through RCI.

I haven't used my SDO in RCI though so can't comment.

 

[ocdb8r]

3. True Platinum weeks have no discernable advantage over other SDO weeks in II trading. The other SDO weeks will get you where you want to go in II.

There did seem to be a discernable advantage to true platinum weeks when looking at the last bulk bank of Harborside deposits. I admit this could have been a fluke, but given II gives a blended trade power for the season owned, I think it's reasonable to expect a true platinum would have a slightly higher trading value. That said, it may not be enough to matter in most respects.

 

[DeniseM]

True Plat weeks are highly sought after by people who want to requalify them for 148,100 Staroptions, because they are one of the least expensive weeks to requalify and have a low maintenance fee.

 

[jarta]

"one of the least expensive weeks to requalify"

Usually least expensive to purchase and then requalify. But, not always, IMO, due to eBay bidders looking to purchase a true Platinum SDO for II trading and hoping true "Platinum" would grant something "extra" to them. Thus, they overbid for their II trader. mandoggy asked what the advantage would be for true Platinum. I assumed mandoggy thought true Platinum was better than 1-52 and was thinking of bidding up the price.

All requalifications are expensive - at least an additional $20K spent on a new Starwood purchase or upgrade of an existing week. The total expense of requalifying a true Platinum SDO is only marginally less so.

It is true the ongoing cost of the annual MF at SDO - so far - is one of the least in the SVO system. However, there is a looming and much needed renovation coming up for SDO. ... eom

 

[DeniseM]

It is true the ongoing cost of the annual MF at SDO - so far - is one of the least in the SVO system. However, there is a looming and much needed renovation coming up for SDO. ... eom

Do you have factual information about this, or are you just speculating?

 

[scootr5]

Do you have factual information about this, or are you just speculating?

I'd like to know as well, especially given this year's not unsubstantial bump.

 

[VacationForever]

Actually I remember reading in a 2011 annual meeting post that SDO is planning a major renovation that will be completed in 2013 or 2014 but no additional assessment would be required.

 

[Beefnot]

True Plat weeks are highly sought after by people who want to requalify them for 148,100 Staroptions, because they are one of the least expensive weeks to requalify and have a low maintenance fee.

Every time I drive by the Starwood forum and see talk about paying $20k to retro weeks for options, I am utterly incredulous. Granted, there are those of us who have money falling out their pockets, so money ain't a thing to them. But for those of us where $20k would make us at least blink, what psychological satisfaction could be that valuable? I just don't get it.

 

[DeniseM]

Actually I remember reading in a 2011 annual meeting post that SDO is planning a major renovation that will be completed in 2013 or 2014 but no additional assessment would be required.

That's what I recall, as well.

 

[jarta]

Do you have factual information about this, or are you just speculating?

Mostly speculation. Some TUG posting about renovations extending into 2013 or 2014. Some personal inspection when last at SDO. "Looming" doesn't mean announced yet or that actual specifics are now available.

Take a look at this SDO elevator video from 2 years ago (most SDO buildings don't even have elevators). Note the conditions of the buttons, elevator floor and flooring where the elevator stops. Do you think it's any better now with 2 more years of use?:

http://www.youtube.com/watch?v=RWBhUxgjAkQ

1 1/2 years ago I walked through the lobby areas and peeked into the rooms. Nothing in absolute disrepair then, everything neat and clean, but everything was pretty threadbare and dated or shabby chic at the resort.

There may not need to be a special assessment to get everything done. But there is quite a bit that needs replacing and sprucing up, IMO.

However, if you (not anyone here specifically) are a person concerned merely with II trade value who will never stay a night at SDO, you may not care how threadbare things may get. The primary concern is that the MF do not increase. ... eom

 

[VacationForever]

http://www.tugbbs.com/forums/showthread.php?t=157055&highlight=SDO+annual+meeting

read post #22

"SDO is 12 years old and a major refurbishment is planned for 2013-2014. By 2014, it will be a whole new resort. There are $7 to $8 million in reserves and no special assessment is anticipated. Part of renovation will be $900,000 for Americans with Disabilities Act requirements for 2012 to avoid liability/lawsuits."

 

[jarta]

Posted by Quiet Pine on 10/20/11 about the SDO annual meeting.

"I ran a digital voice recorder and have an audio file for anyone who really, truly wants to hear. Can’t promise high-quality audio; lots of coughing, paper rustling, etc.

HOA meeting began at 1:00, adjourned at 1:40. Free cookies, popcorn, soda, water available. Main business was to elect two directors, then Q&A, then a Board meeting, then a seminar on how best to use ownership.

To start, Board members introduced themselves, then Starwood personnel (many from Orlando headquarters) introduced themselves.

Cassandra Wilkins, resort manager for 6 years, gave an update: SDO plans to reduce energy use 30% and water use 20% by 2020. They’ve increased recycling efforts. There are four computer desks in the lobby. WiFi, free in villas, is now 10X faster. Weekly activities calendar is now on MyStarCentral.

Delinquent owner situation is better. In 2010, new delinquent accounts were about 5%; in 2011, 2.8%. In 2011, $10 million in billings, $7 million collected as of August 31. Foreclosures cost about $500 each to process, then they’re owned by Pinnacle Assn. which is working with Starwood’s on-site sales team to sell weeks. Foreclosures won’t be offered to current owners.

Two directors on ballot were elected, then meeting was adjourned and Q&A began.

SDO is 12 years old and a major refurbishment is planned for 2013-2014. By 2014, it will be a whole new resort. There are $7 to $8 million in reserves and no special assessment is anticipated. Part of renovation will be $900,000 for Americans with Disabilities Act requirements for 2012 to avoid liability/lawsuits.

Resort attendance is very good. Occupancy rates are 92% for owners/traders and 88% for rentals.
2012 Maintenance Fees not known at this time. There will be an increase. First guess was $30, then guess was raised to possibly $65 (for 2BR). I didn’t ask why combined 1BR MFs are 127% of 2BR because it’s been discussed at length in this thread and it seems the current Board cannot influence the situation.

There’s no plan to invite Pinnacle owners to join SVN. There was an offer in 2001 at $75, and another offer in 2004 at $299.

I left after Q&A, didn't stay for rest of program.

II rep was in lobby with coupon for SDO owners: NEW membership in II, 2 years for price of 1, $89. Use promo code 93535NM. Valid until 12/31/11."

http://tugbbs.com/forums/showthread.php?p=1190613#post1190613

A special assessment is only necessary and only occurs when the budgeted expenses for a particular year exceed the expenses budgeted for and revenue from MF budgeted. Then, a separate assessment is sent out to fund the shortfall of annual budgeted revenue to annual budgeted expenses.

Expenses can rise as the current year's budgeted expenses for the renovation are included in the current year's budget. Those current year expenses must be paid for by either drawing on the reserves or adding to the annual assessment (or some prudent mix of both). A special assessment only occurs if the annual current assessment produces less than is needed and the board decides not to make an unbudgeted, further raid on resort reserves.

(Sorry for the duplication of what sptung posted. Got a lengthy call at my office while writing this post.) ... eom

 

[Ken555]

More fear and gloom for the SDO owners. I'm still interested in buying a unit there sometime in the next year. I'll wait for facts to appear before worrying others.

 

[jarta]

Ken, ... "I'll wait for facts to appear before worrying others."

The facts are out there. The SDO board announced them (in broad terms) at the annual meeting. Or, was the board just intending to worry the owners? ... eom

 

[Ken555]

I'm sure most of us will agree that the Board's statements, as reported on TUG, that refurbishment of SDO will be funded from reserve accounts is a prudent and preferred way to proceed. Obviously, we don't know the exact cost of the refurbishment of the resort. The key words to remember are:

no special assessment is anticipated

Unlike others, I'm not going to imply that any future refurbishment means a special assessment will be required. Obviously, special assessments will occur when needed. I simply don't see any reason to fan the flames of worry by insinuating a SA, or other increases in MF, is likely to happen.

 

[jarta]

Ken, ... "Unlike others, I'm not going to imply that any future refurbishment means a special assessment will be required. Obviously, special assessments will occur when needed. I simply don't see any reason to fan the flames of worry by insinuating a SA, or other increases in MF, is likely to happen."

My original statement:

"It is true the ongoing cost of the annual MF at SDO - so far - is one of the least in the SVO system. However, there is a looming and much needed renovation coming up for SDO."

Where did I mention a "special assessment" in that statement? I was talking about annual MF.

A special assessment is necessary where the budgeted annual expenditures are not covered by budgeted transfers from the Reserve Fund or from budgeted and prorated annual MFs. The prudent way to pay for renovations is to include the yearly anticipated expenses of the renovation in the annual budget and offset those expenses by paying for them "as you go" by increasing the annual MF or by transferring reserves.

Special assessments should only occur for emergencies. For example, where you open up a wall and find unexpected and unbudgeted problems (like asbestos in older buildings or rot at WSJ) that cannot be covered by a transfer from the Reserve Fund. Prudent management and budgeting dictates: First, MF pays for renovation. Second, raid the reserve fund for unexpected problems and the cost of the renovation. Third, declare the necessity for a special assessment and send out another MF bill (payable in full right away or with the problem financed by a full or partial loan and paid off by MF over the term of the loan). ... eom

 

[Ken555]

Time to let it go... /exit

 

[DeniseM]

Ah - ha! Now I get it!