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[2006] Info needed: Olympic Village Inn

teachingmyown

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A good friend is seriously considering purchasing a summer week (resale!) at Olympic Village Inn. His plan is to trade it through RCI for a winter Olympic Village week. He has found one for sale at what seems to be a reasonable price. The current owner says his lawyer will draw up the papers for no additional charge to my friend. I told him he needs to consider the mfees, the exchange fees and the RCI membership fees and that he should ask about any special assessments that might be looming in the near future. Plus, I suggested that the two of them put everything in writing and agree to all terms before exchanging money/deeds.

Does anyone have more information that should be considered? He absolutely has his heart set on skiing at Squaw Valley on a yearly basis and this looks like possibly his best bet to be able to do so.

The most recent review is nearly 5 years old. Hasn't anyone been there more recently? Doesn't anyone OWN there? Is there anything special about CA timeshares that he needs to consider? (Like for instance, in FL, the property taxes are billed separately from the mfees...does CA do that?) Does anyone know anything about the POA that is relevant? Would anyone be willing to make a ballpark estimate of what such a week should sell for?

Thanks!!!
tmo
 

chemteach

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Re: Info needed: Olympic Village Inn

Tell your friend to check out ebay. These weeks come up a few times a month. I bought one a half year ago for only $400. ($800 total including closing costs.) They seem to sell as high as around $1500 for summer weeks on ebay. There is actually a summer unit on ebay right now.

There is a special assessment of $200 coming up, so more people may be considering selling (not a huge special assessment, but still, money out of the pocket.)

Taxes are billed separately at 1.25% of the resale price for all CA timeshares.

RCI often has a good amount of availability, so I would think trading back in would not be too difficult, especially if your friend set up an ongoing search far in advance.

Edye
 

madherb

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Re: Info needed: Olympic Village Inn

Unless it is a points resort/unit I'm not sure that owning a summer week will give any better chance of trading into a winter unit at the home resort than if he owns anywhere. If this is right, he would be better in looking for a strong trader, depositting 2 years out and continually searching for the winter week.
 

judyturn

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OVI weeks

I just noticed two winter weeks available for purchase. I would advise buying a winter week, instead of buying a summer one. Then you would be able to book your desired week directly with OVI and not have to pay the annual RCI membership or exchange fee.
Judy
[deleted]
 
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ibtfyt

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I own seven winter Olympic Village Inn timeshares, with the very first acquired in 1993. We were there most of January and are returning in March. Tell your friend to wait for a winter week rather than trying to exchange through RCI. That would only add to the cost of his vacation.
 

DeniseM

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Please note that this questions was asked in 2006. When you use the search function, please check the date of the posts you pull up.
 
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