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[ 2006 ] wondering about Magens Point Resort in St Thomas

tdberry

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We have been owners at Magens Point Resort in St.Thomas for 5 years. We have a 2 BR unit in the Villas building . Did not use our week last year and are not using it this year (week 6) . The place seems to be going down hill fast. Am anxious to hear from other owners and what they think. We also have friends who own there. In fact, they invested in the new building Which was supposed to have been completed 2 years ago and is still just a pile of dirt. Hope to hear from other owners.
 

irbyjr

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Magens Point Resort in St.Thomas

tdberry said:
We have been owners at Magens Point Resort in St.Thomas for 5 years. We have a 2 BR unit in the Villas building . Did not use our week last year and are not using it this year (week 6) . The place seems to be going down hill fast. Am anxious to hear from other owners and what they think. We also have friends who own there. In fact, they invested in the new building Which was supposed to have been completed 2 years ago and is still just a pile of dirt. Hope to hear from other owners.

I posted your question on the STT board. Maybe someone there knows. If so, I'll post it.
 

Tia

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I'd be wanting my $ back for the people who bought and it's still a pile of dirt. The USVI needs better timeshare consumer protection imho . If it's going down hill you need owners to get involved and voting asap, which is what should happen before things take a negative turn.
 

Spence

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Magens Bay Villa Club SPECIAL ASSESSMENT

Yes, you'll have your bill soon.... in addition to announcing that MFs are going up 15%/yr for the next few years including this year, there is a Special Emergency Assessment of $813 for 2BR and $710 for 1BR. MFs are now $726 for 2BR and $659 for 1BR! :mad:
 

somerville

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I stayed there a few years ago on an AFVC rental. It appeared that there was a lot of deferred maintenance that was starting to be addressed, and the interior of our unit was shabby. It sounds like the deferred maintenance was never addressed. I was also concerned about the termites that were building tunnels up the side of the building and reported it to maintenance, but they didn't seem to be concerned.
 

welove2travel

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Re: Magens Point Resort

We have been owners at Magens Point Resort - studio - since 1995 and have visited the site about 3-4 times. Because we like St. Thomas so much, we have probably overlooked the decline in this property!
Today we received our emergency assessment fee ($533) along with the increase in Maintenace Fee!!!!!
We are ready to get rid of this time share (we own two in Hawaii - and slowly we are having our doubts about the feasibility of owning them also!). It is next to impossible to sell - and who would want to buy a week that has so many problems and increasing fees!!!
What, now, are our alternatives for this Magen's Bay timeshare? We're ready to let them 'repossess' it.
 

tdberry

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Re:Magens Point Resort

Since I posted my original message/question, we also received our "special emergency assessment" to the tune of $813 for our 2 bedroom unit. The MF went to $726 this year and will continue to increase 15% per year. Kind of an expensive time share. The assessment is supposed to be a one time thing, but i'm not optimistic it will be. I know if a person fails to pay their MF they can't use their unit that year. Anyone know if the same applies to a "special emergency assessment"? Is there a legal mind out there somewhere. I don't think letting them repossess is an option (at least in our case). That may be part of the plan. Any advice or contact from fellow owners would be appreciated. Thanks to those of you who have responded.
 

foxshire

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welove2travel said:
We have been owners at Magens Point Resort - studio - since 1995 and have visited the site about 3-4 times. Because we like St. Thomas so much, we have probably overlooked the decline in this property!
Today we received our emergency assessment fee ($533) along with the increase in Maintenace Fee!!!!!
We are ready to get rid of this time share (we own two in Hawaii - and slowly we are having our doubts about the feasibility of owning them also!). It is next to impossible to sell - and who would want to buy a week that has so many problems and increasing fees!!!
What, now, are our alternatives for this Magen's Bay timeshare? We're ready to let them 'repossess' it.

I,too, am wondering what's going on at Magen's. We own two weeks there, 7 & 8, and am wondering if it's going to be open when we get there. Didn't receive the usual inquiry as to whether or not we're coming this year, any additional needs, etc. We're really upset about this emergency assessment.
 

Carolinian

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Do they have an owner's association? If not, then management is calling all of the shots, with no restraints. That is one of the first things I would look at before buying.

Rather than the credit problems from a foreclosure, why not just but it on ebay or bidshares with a starting price of $1?
 

somerville

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I hope your resort has adequate fire insurance. If not, it looks like your special assessment will go to pay for yesterday's fire damage.
 

foxshire

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Are you kidding? Was there really a fire yesterday at Magen's? Do you have any particulars? If so, would be interested. I sent an e-mail yesterday and got a failure to deliver message.
 

Tia

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somerville said:
I hope your resort has adequate fire insurance. If not, it looks like your special assessment will go to pay for yesterday's fire damage.

Is there a link you can put up ? (never mind I found the other post with this
- http://www.virginislandsdailynews.com/index.pl/article_home?id=12271646 )

I sent a link to this thread to another owner of Megans, who also owns at our island resort. He mentioned there is not an owners association but they were thinking of creating one.
 
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Spence

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The article doesn't name the building, but it sounds like it was in the Tropic Leisure Club area near the entrance to the resort, not the Magens Bay Villas area shown below.

mpr.jpg


stt-map1.jpg



Ok, now I got it. The Eastern most bldg (described in the article) would be Bldg 6 the Island Bldg, part of the Tropic Leisure Club portion of the resort. The Building pictured above is Bldg 7.
mpr-map1.jpg

as noted elsewhere, Bldg 11 doesn't exist yet.
 
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welove2travel

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Where do we stand?

Wondering if anyone knows just where we stand with this emergency assessment fee? Not everyone has an extra $500+ to pay out in a quick 4 week period. What happens if we just don't pay the assessment? What happens if we send them $50 -$100 per month?
Now with the fire..........who knows what will happen?
I don't think it matters which building our timeshare is in.....none of us have escaped!!! :confused:
 

rreese1821

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Any Legal Advise?

Does anyone know, IF the emer. fee is NOT paid, could they possibly "Reposess" the propertys? If so, whoever is running it can come out way ahead. Also, what are the local legal obligations and rights, since it's not the USA?
 

Spence

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rreese1821 said:
Does anyone know, IF the emer. fee is NOT paid, could they possibly "Reposess" the propertys? If so, whoever is running it can come out way ahead. Also, what are the local legal obligations and rights, since it's not the USA?
Don't know the answer to your question but last time I checked the USVI was in the USA.
 

tdberry

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Anything new on Magan's Point

Anyone have any new information on the fire? Any more owners who have received their emergency assessment and are wondering what's going on?
 

chellej

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Buildings 5 & 6 are the Tropic Leisure club studio units. It sounds like this is where the fire was.

The one & two bedroom Magen Bay units are the ones in the photograph, building 7.
 

welove2travel

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tdberry said:
Anyone have any new information on the fire? Any more owners who have received their emergency assessment and are wondering what's going on?


Still wondering what is going on. Are we just going to pay that assessment and forget it? I am trying to find out what would happen if I didn't pay it! Anyone know?
 

Spence

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welove2travel said:
Still wondering what is going on. Are we just going to pay that assessment and forget it? I am trying to find out what would happen if I didn't pay it! Anyone know?
I would expect that you wouldn't have use of your timeshare until you paid it.
 

tdberry

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special assessment $$$$

Any Magen's owners have any thoughts on the special assessment we have all been billed for. I guess we have to pay it, but I just wish I had a little more confidence that the money will be well spent. Have any of you expressed interest to them concerning this owners group they mentioned starting? Do you think the group is a possibility or just a smoke screen? Would appreciate any input.
 

Whootie

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We will be arriving at The Villas this Sat. as owners of week 6.
We haven't been there before as we just purchased on ebay last year. We have not as yet paid the special assesment & would like to see the resort & speak to other owners before we do. We will report what we find. Laura
 

Spence

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barney44 said:
We will be arriving at The Villas this Sat. as owners of week 6. We haven't been there before as we just purchased on ebay last year. We have not as yet paid the special assesment & would like to see the resort & speak to other owners before we do. We will report what we find. Laura
Have a great trip and let us know what you find out.
 

tdberry

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Word from Magen's Point

We heard from some friends who stayed at Magen's Point last week and there seems to be some improvement. They said the place was cleaner and there seemed to be some improvements being made (still a lot needs to be done). Anyone else have any information? What about the special assessment....anyone paid yet? We haven't sent ours yet,but I guess we will have to.
 
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