[2006] SVO Resale: Yes you can requalify/retro [MERGED]

[Kildahl]

Are you saying that the Developer price for Princeville 2brL/O (SVO owner price) is now $25,000 for EOY and therefore $50,000 for EY?......

That's the price until the 15th.

 

[stevens397]

Help me here.

I own Kierland (developer purchase pre-construction).

If I buy two WMH resale for a total of about $25,000 that brings me to about 444,000 SO. So I would need another 115,000 to reach 5* elite, but I would need two separate developer purchases to qualify my two WMH resales, right?

What I'm getting here is that I could buy a 2 bedroom lockoff as two separate units (1 Premium and 1 Deluxe) and that would do it. Right?

How would the SO be calculated if I bought 2 EOY units? What if they are 1 BRs?

To be more succinct, what's the least I would have to spend with Starwood to get the 115,000 SO and get to 5*? Many thanks!

 

[grgs]

Help me here.

I own Kierland (developer purchase pre-construction).

If I buy two WMH resale for a total of about $25,000 that brings me to about 444,000 SO. So I would need another 115,000 to reach 5* elite, but I would need two separate developer purchases to qualify my two WMH resales, right?

What I'm getting here is that I could buy a 2 bedroom lockoff as two separate units (1 Premium and 1 Deluxe) and that would do it. Right?

How would the SO be calculated if I bought 2 EOY units? What if they are 1 BRs?

To be more succinct, what's the least I would have to spend with Starwood to get the 115,000 SO and get to 5*? Many thanks!

Well, you have to spend a minimum of $20,000 to requalify a week. Since you'd want to requalify 2 weeks, you'd have to spend $40,000.

What happened to the second home in Florida?

Glorian

 

[pointsjunkie]

Help me here.

I own Kierland (developer purchase pre-construction).

If I buy two WMH resale for a total of about $25,000 that brings me to about 444,000 SO. So I would need another 115,000 to reach 5* elite, but I would need two separate developer purchases to qualify my two WMH resales, right?

What I'm getting here is that I could buy a 2 bedroom lockoff as two separate units (1 Premium and 1 Deluxe) and that would do it. Right?

How would the SO be calculated if I bought 2 EOY units? What if they are 1 BRs?

To be more succinct, what's the least I would have to spend with Starwood to get the 115,000 SO and get to 5*? Many thanks!

if you purchased eoy's each one would have half the staroption value. so you would need to purchase 2 2 br l/o eoy to get where you need to be. but each one must cost $20000. the least amount you can purchase is 125300 staroptions eoy.

you will be paying more in MF"s if you buy eoy for 2 cpmpared to ey for 1.

the new places such as cancun ,desert willow,princeville are not selling as 1 br's, you must buy the l/o's.

so you are looking at a minimum of $40000.

 

[grgs]

the new places such as cancun ,desert willow,princeville are not selling as 1 br's, you must buy the l/o's.

Actually, Starwood is selling the Westin Lagunamar (Cancun) 1 bedrooms & studios separately.

Glorian

 

[Kildahl]

Help me here.

I own Kierland (developer purchase pre-construction).

If I buy two WMH resale for a total of about $25,000 that brings me to about 444,000 SO. So I would need another 115,000 to reach 5* elite, but I would need two separate developer purchases to qualify my two WMH resales, right?

What I'm getting here is that I could buy a 2 bedroom lockoff as two separate units (1 Premium and 1 Deluxe) and that would do it. Right?

How would the SO be calculated if I bought 2 EOY units? What if they are 1 BRs?

To be more succinct, what's the least I would have to spend with Starwood to get the 115,000 SO and get to 5*? Many thanks!

My recent experiences confirm PJ and Glorian's reponses to you. However, if there is any wiggle room for retro negotiation it would be in connection with a purchase at Lagunamar. All sales efforts at this time are focused on this project.

 

[pointsjunkie]

Actually, Starwood is selling the Westin Lagunamar (Cancun) 1 bedrooms & studios separately.

Glorian

thanks didn't know that. still sick.

 

[stevens397]

Glorian-

Wow - someone was listening.

Long story short. I know that at some point I want a place there and it seems that prices right now are very, very reasonable. So my thoughts were that my wife had two years left till she retired from teaching and then we could use it.

But I would insist on a golf community and I'm not ready to take quite so much time off to make it useful - maybe a week a month for a number of years. Buying the home, paying the membership in the club and keeping it going for what would probably be at least 5 years until I truly take advantage of it just seemed like a bad, bad financial move. But a week a month (during the winter especially) seems possibly right for a timeshare situation.

Besides, we're all always thinking about this stuff! I got Starwood Platinum from my Centurion card and had a blast with it. Requalified once but this will be my last year. Getting it for life - well I could see it being very valuable. And the sense I have from this board is that I could get 2 WMH for no more than $25,000 and another $40,000 for units to requalify them. So that $65,000 might be a very reasonable investment. We'll see.

 

[myip]

.

Besides, we're all always thinking about this stuff! I got Starwood Platinum from my Centurion card and had a blast with it. Requalified once but this will be my last year. Getting it for life - well I could see it being very valuable. And the sense I have from this board is that I could get 2 WMH for no more than $25,000 and another $40,000 for units to requalify them. So that $65,000 might be a very reasonable investment. We'll see.

I just did upgrade and retr'd at the same time. It can be a lot cheaper than $40K to requalify them. see this thread.

http://www.tugbbs.com/forums/showthread.php?t=66979

 

[grgs]

Glorian-

Wow - someone was listening.

Long story short. I know that at some point I want a place there and it seems that prices right now are very, very reasonable. So my thoughts were that my wife had two years left till she retired from teaching and then we could use it.

But I would insist on a golf community and I'm not ready to take quite so much time off to make it useful - maybe a week a month for a number of years. Buying the home, paying the membership in the club and keeping it going for what would probably be at least 5 years until I truly take advantage of it just seemed like a bad, bad financial move. But a week a month (during the winter especially) seems possibly right for a timeshare situation.

Besides, we're all always thinking about this stuff! I got Starwood Platinum from my Centurion card and had a blast with it. Requalified once but this will be my last year. Getting it for life - well I could see it being very valuable. And the sense I have from this board is that I could get 2 WMH for no more than $25,000 and another $40,000 for units to requalify them. So that $65,000 might be a very reasonable investment. We'll see.

Based on quick math, 559,000 options would be enough for 6-7 weeks in prime season at various resorts, so that I think your proposal is reasonable. Of course, you wouldn't see the appreciation (in fact, likely would see depreciation) that a second home probably would. On the other hand, mf-wise you'd only be paying for what you would use, and wouldn't need to worry about upkeep/maintenance.

I don't know if you saw this current thread or not:

http://www.tugbbs.com/forums/showthread.php?t=67937

Glorian

 

[stevens397]

Help me hone my argument.

Okay everyone - please indulge me once again. Let me explain my newest rationale and tell me what you think. If I can get it past you folks, I might be ready to try it on my wife!

1. I WANT SPG Platinum for Life. I crave it.

2. There are many, many places in the world I have yet to see. On the other hand, I could also go back to Paris every year. In two more years, when my wife retires from teaching, we will do much more travelling. My wife (and I) would never want to be tied down to loads of destinations from timeshares. But one more might not be bad.

3. I get loads of Starwood points from using their AMEX in my business. As I too wind down, that will end.

4. So here goes - buy one more Starwood timeshare - possibly Cancun. But also purchase two weeks in Mission Hills for about $20-22,000. Yes, maybe some years I'd go there but that would not be the reason for purchasing. Once I get them requalified, I can turn them in for points every year. Forgetting the purchase price, the maintenance fee and conversion fee would mean that I'd be paying about 1.7 cents per point and I still manage to usually get in excess of 5 cents per point. The two timeshares each year could get me two Business Class tickets to Europe - every year!

So in my mind, I'd have two Starwood timeshares plus a points machine. The only downside I see is should Starwood continue the rapid depreciation, but it has to stop at some point, I would think, or it would be a meaningless program. I'd have fees of about $5,000 per year for two weeks in two 2 bedroom units plus a net of 144,000 points per year.

Okay - knock yourselves out and tell me why I'm crazy (or brilliant!). Thanks!

 

[myip]

4. So here goes - buy one more Starwood timeshare - possibly Cancun. But also purchase two weeks in Mission Hills for about $20-22,000. Yes, maybe some years I'd go there but that would not be the reason for purchasing. Once I get them requalified, I can turn them in for points every year. Forgetting the purchase price, the maintenance fee and conversion fee would mean that I'd be paying about 1.7 cents per point and I still manage to usually get in excess of 5 cents per point. The two timeshares each year could get me two Business Class tickets to Europe - every year!

Thanks!

Not crazy except I would buy Sheraton Mountain Vista or Lakeside Terrace. Mission Hills has a high maintenance fees and taxes. You get better conversion rate starpoints for SMV and LT.

-- IF hotel is all you are looking for, you may also consider Hilton. Resales is also allow to convert to Hilton Honors Points.

 

[DMSTWO]

At last someone who values the starpoints conversion

I'm relatively new to TUG and appreciate all the info and good advise that can be found here. I am, however, in the minority when it comes to my perception of the value of Starpoints. I think one of the major benefits to the Starwood system is the ability to convert to Starpoints.

I travel a lot internationally and have an unpredictable schedule, so pre-planning a timeshare reservation 8-12 months in advance is a bit dicey.

By using Starpoints I have been able to enjoy some great opportunites and accommodations all over Asia and Europe. I bring my wife along on some trips and then extend my stays oversees for some R&R using Starpoints.

I'm still in the research stage and haven't invested in any Starwood properties yet. So I'm certainly no expert. The way I see it however, is if you choose your TS units properly, the MF to Starpoints ratio can yield some very good bargains. In addition you have the benefit of nice home resorts, as well as, SVN and II exchanges.

I do understand the arguments against Starpoints conversion but see a common thread throughout the posts that question their value. In particular, those who post against the value of Starpoints seem to be approaching Starwood resorts as more of a high end traditional type TS. By this I mean they more often than not appear interested in returning frequently to their home resort and feel that the internal (if SVN members) and external exchanges are more than enough flexibility.

If I were in their shoes I would support their argument, but for me flexibility has its own value.

To me Starwood means...Great properties to use when I want, good external exchange value, the flexibility to expand into the hotel network through starpoints, and finally a solid company that should have the staying power to support the resorts well into the future.

Unfortunately, to realize all of the benefits you have to purchase at least some of your units from the developer....flexibility does have a cost.

 

[stevens397]

And even tho I agree with you (and place much, much more than 1-2 cents value per point that some do), the fly in the ointment is the fact that I have seen, over the last four years, a drastic reduction in the value of my points.

There was a time four years ago, when I first got into this program, that I thought I would set up a second retirement account in Starwood points! Build up a million or two and use them during my retirement. To do so would have meant an absurd loss of value - so earn em and burn em is the way to go.

I may go ahead and still try to reach 5* but I'm well aware of the risk.

 

[pointsjunkie]

I'm relatively new to TUG and appreciate all the info and good advise that can be found here. I am, however, in the minority when it comes to my perception of the value of Starpoints. I think one of the major benefits to the Starwood system is the ability to convert to Starpoints.

I travel a lot internationally and have an unpredictable schedule, so pre-planning a timeshare reservation 8-12 months in advance is a bit dicey.

By using Starpoints I have been able to enjoy some great opportunites and accommodations all over Asia and Europe. I bring my wife along on some trips and then extend my stays oversees for some R&R using Starpoints.

I'm still in the research stage and haven't invested in any Starwood properties yet. So I'm certainly no expert. The way I see it however, is if you choose your TS units properly, the MF to Starpoints ratio can yield some very good bargains. In addition you have the benefit of nice home resorts, as well as, SVN and II exchanges.

I do understand the arguments against Starpoints conversion but see a common thread throughout the posts that question their value. In particular, those who post against the value of Starpoints seem to be approaching Starwood resorts as more of a high end traditional type TS. By this I mean they more often than not appear interested in returning frequently to their home resort and feel that the internal (if SVN members) and external exchanges are more than enough flexibility.

If I were in their shoes I would support their argument, but for me flexibility has its own value.

To me Starwood means...Great properties to use when I want, good external exchange value, the flexibility to expand into the hotel network through starpoints, and finally a solid company that should have the staying power to support the resorts well into the future.

Unfortunately, to realize all of the benefits you have to purchase at least some of your units from the developer....flexibility does have a cost.

i am one of the crazy people who loves the starpoint benefit, use them all the time. but if i owned in hawaii i would probably feel the way they do but i own at relatively less expensive resorts minus harborside that i would change to starpoints and go to beautiful resorts at places that are on my must see list.

without that added benefit we would not have owned our first starwood timeshare, that was a major reason we purchased in the first place. we liked the added flexibility just in case life happens and we can't go away we have an option to convert to starpoints and use in the future. it works well for us.

 

[LisaRex]

If I planned on traveling internationally a lot, I think Platinum for Life could actually make fiscal sense. Acc to the fine folks on FlyerTalk, platinum benefits abroad are really great.

And if it doesn't work out for you, you can always sell them or simply rent them out.

 

[grgs]

4. So here goes - buy one more Starwood timeshare - possibly Cancun. But also purchase two weeks in Mission Hills for about $20-22,000. Yes, maybe some years I'd go there but that would not be the reason for purchasing. Once I get them requalified, I can turn them in for points every year. Forgetting the purchase price, the maintenance fee and conversion fee would mean that I'd be paying about 1.7 cents per point and I still manage to usually get in excess of 5 cents per point. The two timeshares each year could get me two Business Class tickets to Europe - every year!

Just want to clarify--are you thinking of 2 EOY purchases in Cancun? You'll need two separate Starwood purchases to bring in both Mission Hills units.

Glorian

 

[capjak]

Does anyone know if WLOR falls under the 20K rule for requal or 40k rule for requalifcation purchase?

 

[SDKath]

Does anyone know if WLOR falls under the 20K rule for requal or 40k rule for requalifcation purchase?

I don't think you can requal WLOR due to some strange exceptions to the Cancun deeds and foreign laws. I would check with Starwood on this one!

You can, however, use a Cancun purchase from Starwood to retro WMH or another resale property. If the property being retro'd is on the mainland, you have to spend $20,000. If the property is HI or Carrib (ie you bought WKORV resale and want to retro it with a Cancun purchase), you need $40,000 purchase from Cancun to retro it.

Katherine

 

[capjak]

If the property being retro'd is on the mainland, you have to spend $20,000. If the property is HI or Carrib (ie you bought WKORV resale and want to retro it with a Cancun purchase), you need $40,000 purchase from Cancun to retro it.

Katherine

Thanks, WKORV-N resale, 40K Cancun retro that hurts.

 

[pointsjunkie]

it is $20000 for cancun.

 

[stevens397]

Glorian-

My proposal would be to buy the one BR premium EY and the one BR deluxe as 2 separate transactions - paying a bit more buy being able to then requal 2 properties.

 

[grgs]

Glorian-

My proposal would be to buy the one BR premium EY and the one BR deluxe as 2 separate transactions - paying a bit more buy being able to then requal 2 properties.

Ok, that should work. Thanks for the clarification!

Glorian

 

[avelox]

Anything New To Add To This Thread?

It's been a while since anybody posted to this thread!
Kinda wondering if anybody has anything new to add....specifically...has anybody actually, successfully, concluded the process of requalifying a Starwood resale...lately?
Maybe a few of you took notice of the offer on E-Bay lately for a 2BR unit at the Sheraton Vistana Resort Lakes Section that included the staroptions value in the description.....and then added a mention that this value could be added to an owner's existing portfolio.
Re-sale buyer beware.

 

[DavidnRobin]

It's been a while since anybody posted to this thread!
Kinda wondering if anybody has anything new to add....specifically...has anybody actually, successfully, concluded the process of requalifying a Starwood resale...lately?
Maybe a few of you took notice of the offer on E-Bay lately for a 2BR unit at the Sheraton Vistana Resort Lakes Section that included the staroptions value in the description.....and then added a mention that this value could be added to an owner's existing portfolio.
Re-sale buyer beware.

Yes - alot is new - and alot of people have used the requal/retro and the upgrade - see SDKath's thread...
http://www.tugbbs.com/forums/showthread.php?t=71543

Why must the "re-sale buyer beware"? Did we miss something...?