With the way the economy is and continues to be, people will certainly look into diverse ways of financing one's property. Hence it does not surprise me he would look into alternaste financing sources in this case presumably the Saudis. Why not? If the conditions are good and support the financial entity & owners, I believe its a good move.
In the demanding financial times, this is when RESERVES take on the important meaning one should always consider before buying a property owned by many, be it a condo, timeshare, or whatever. With the varying opinions being voiced on TUG and oither boards concerning Westgate, I seriously wonder if things could be better financially than they presently are. I know if the Westgate Resorts were to become owners' associations, there would be an immediate input from owners (a refreshing item) but could the owners' association create a better financial RESERVES balance sheet than exists now?
It appears the present monopolistic developer association is running things straight from the book. Changes have been made which changed the status quo. How this affected others depnded on which side of the bathroom door you were standing when asked to define how long a minute is.
If one looks at the timeshare agreement/contract one signed when one bought (who in actuality really does read that at the time of purchase anyways
), then one will see the developer has actually done what is allowed for the developer to do based on what is in the agreement/contract. There have been decisions which when made adveresely affected some and benefited others. That is true even in our local government entities when changes are made (examples would be zoning changes, code changes, etc...).
Foir example, at Westgate Lakes there are over 10,000 owners, renters or exchangers there at any one given time. It is quite difficult to maintain a set of guidelines all can agree to. It would seem one would need to makes decisions from the center and have the left and right leaning sections discontented at any decisions arrived at regardless opf wheher they were from developer or owner associations. Heck, there is quite a bit of dissatisfaction and owner discontent at timeshare resorts I have been in the past 10 years or so. People often can and do disagree with whatever decision is arraived at regardless it seems of hoiw well intended the people making the decisions were.
frenchieinme
