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[ 2009 ] Just purchased at Valdoro Lodge--SANITY CHECK, PLEASE!!!

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We are in the middle of a week at Valdoro Lodge in Breckenridge, having somehow managed to use our club points (HGVC Hawaii owners) to reserve what has been a GREAT week here (I will certainly share details of this once we're home next week).

We decided to go to the owner's update earlier this evening (where all the drama started), for what we figured would be 45 minutes of our time for $50 to spend out in town. All good, right?

As we knew the property to be sold out, it "turns out" there were still units available in the form of those on which Valdoro foreclosed and had back in inventory (for however good a deal one could be convinced they were). Truth be told, it really wasn't a pressure sell, and probably only ended up the way it did for the interest my lovely bride and I expressed in the property, with which we've really been thrilled for our first time here.

Since you already know how this ended up, I'll cut to the deal:
1. Highlights: 7000 pts, 2BR platinum season, even year (starting 2010), guaranteed fixed week #52 (New Year's) with option to float as desired
2. Incentives: seller (Valdoro/HGVC) covers closing costs, 50% down payment & the other 50% @ 0% for 12 months, seller covers maintenance fees for 2010 ($1,050 or so as projected), 7000 more club points (NOT bonus points) for 2009 of which we already know we can make good use
3. Bottom line: total cost to us of $23,898.90 (including $118.90 loan origination fee)

As ski vacations go, with kids in school, this is exactly what we'd ask for if we could choose it ourselves.

As quick as I could, I took a look online and it APPEARS that resale prices (at least as listed) are consistent with this deal or even more than we're paying, particularly with this getting us a fixed week at New Year's every other year. I've not yet dealt with trying to rent out a TS should we go that route, but what little I've heard of it suggests it's not a bad option for a week like this if we want to bank a bit instead.

I know that the simple rule of thumb is that resale is the only way to go, but perhaps foolishly I'm hoping this might be the exception to the rule. For whatever reason I'm fairly at peace with it, but by no means about to turn my back on the adivce of anyone who may know better.

We have five days to walk away from it. Any advice would be greatly appreciated.

Sorry for being long winded.

Thanks very much, in advance.
 

Sunshine Wanted

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valdoro

I just pulled up a resale website, and found 2 bdrm eoy ranging from $8,000 to $13,000. There was one annual for $30,600 - but it is 14000 pts annually (not 7000 like the others). from timesharesalespros.com

from timesharehotdeal.com
2bd/2ba 7000 pt eoy for $21,000

And last one:
timesharebrokerservices.com
2bd/2ba eoy, 7000 pts for $16,900
2bdlockout; eoy 7000 $6500 (plat summer)

Not sure if that helps, but there are some quick prices I found. Seems all over the board.
 

PigsDad

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I just pulled up a resale website, and found 2 bdrm eoy ranging from $8,000 to $13,000. There was one annual for $30,600 - but it is 14000 pts annually (not 7000 like the others). from timesharesalespros.com

from timesharehotdeal.com
2bd/2ba 7000 pt eoy for $21,000

And last one:
timesharebrokerservices.com
2bd/2ba eoy, 7000 pts for $16,900
2bdlockout; eoy 7000 $6500 (plat summer)

Not sure if that helps, but there are some quick prices I found. Seems all over the board.
Those "floating" weeks do not compare to a fixed week 52. The only fixed week in those listings was the EOY 2BR week 3 for $21K. With a floating week at Valdoro, you have no priority over any other HGVC member on booking a ski week at Valdoro -- you would have to book at the 9-month window like any other HGVC member. It is possible to get a ski week, but you need to be lucky and it is certainly nothing that you can count on.

To the OP: if you are comfortable with your purchase and will use it there, I would say go for it. You are purchasing a premium week at a premium resort, so you know that does not come cheap. I have sort of kept an eye on Valdoro resales, and when I have seen a week 51 or 52 (every year), it was usually listed for $50K plus.

BTW, I just returned from staying there for the MLK weekend (3 nights) in a 2BR. We might have passed each other in the hall! :D We enjoyed our stay as usual! The new furniture and flat-screen TVs were a nice upgrade this year!

Kurt
 

wmmmmm

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If week 52 is important to you because of your kids and you can afford it, then it's right for you. I purchased my HHV directly from Hilton and I'm in line to buy GVC from Disney because I need to make sure I get a week in the Summer when the kids are out of school. Even if it wasn't the absolute best deal, the weeks I stayed at HHV are worth every penny I paid.
 

sml2181

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When I was looking for a week 52 at Valdoro, the best I could do at the time (1.5 years ago I think) was 68K for 14000 points. Since my Grand Waikikian penthouse points were "cheaper" and we would prefer a 3 bedroom unit - I did not buy at the time. Also, because I wanted to look at Hyatt and Starwood. I ended up buying Hyatt and Starwood ski weeks - some of them fixed. Some of these fixed weeks were much cheaper than what you have in mind, but some of them were more expensive.
There are cheaper options though in Breckenridge but I would very much prefer owning at the Valdoro.

Bottom line - if you are comfortable with the amount, I would buy it. I love the Valdoro. We will be there in a few weeks and we can't wait. I don't think you will find a resale there for much less anytime soon.

Do you happen to know if they have fixed weeks 51 available? And, did they give you an update about the Valdoro River House? I saw the house on a rental website and I think it looks very nice. With the prices they were asking (500K for a week 52/70000 points plus 10K mf's) I can imagine that they needed to rent it out in this economy. I would love to be able to use points to get it for a ski week!
 

Blues

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Wow. You can get 7000 points every year (not EOY) at somewhere in LV or Florida for $12K or less. So you're paying a huge premium for your fixed week 52. As long as you know how big a premium you're paying, and it's worth it to you, then go for it. Personally, I think it's too much.
 

ricoba

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If you feel you must absolutely have that week, then I guess you will have to pay that price.

But I agree with Blues, that's a heck of a lot of $$$ for an EOY 7000 points.
 

Bill4728

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My biggest problem with paying full price from the developer isn't paying the big bucks ( OK maybe it is) BUT paying the big bucks not knowing you have another option.

You know that there are other option and have made a reasonable choice of paying more to get exactly what you want and need. It may not have been my choice ( since my kids are older and don't need a fixed new years week) but it sounds like you have looked at all the options and made a choice.

Good Luck!
 

RLG

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You should notice that the comments you're getting are similar to those you'd get if you asked your friends whether they thought your new girlfriend is pretty. How many do you think are going to be brutally honest?

I think you're making a mistake and throwing a lot of money away. You should rescind.

There are lots of examples to show that a EOY 2br ski week isn't worth anywhere near 23k. For example, at my Starwood resort, a floating ski week sells for about 5k eoy and 12k ey.

So the question is how much more should it be worth to you to fix your week to week 52? If you assume a 5% cost of funds and an 18k difference in price between the new years week and a generic floating week, it would be costing you $900 per year extra. Is it really true that EVERY time you go there, you'll want to do so over new years, so that a floating week is completely unacceptable?

I'd recommend that you rescind, buy a floating ski week, and rent when you absolutely have to go over new years.
 

pianodinosaur

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Feed the Otter:

I hope you have many wonderful times skiing in Breckenridge.
 

FlyerBobcat

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You should notice that the comments you're getting are similar to those you'd get if you asked your friends whether they thought your new girlfriend is pretty. How many do you think are going to be brutally honest?
I'm not saying I think previous comments here are valid or not, but in my few months following TUG quite regularly, I really haven't seen TUGgers "hold back" on expressing their true opinions.... :D
 

alwysonvac

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Things I would think about.......

(1) How many more school years do you have left?
You really only need week 52 while your kids are school age. This is a EOY so you would only get usage for half of the remaining school years.
Would you be better off renting week 52 for those limited number of years (vs paying a premium purchase price + yearly increasing fees)?

(2) You're assuming that your school aged kids will want to spend week 52 skiing for years to come?
Perhaps you can rent week 52 if you decide not to use it but that's assuming there will always be future demand for rentals at this resort.

(3) When you decide to sell, will you be ok if you can only get 50% of your original purchase price for week 52?
No one knows where resale prices will be down the road. You'll definitely get more money for week 52 vs a float week but will buyers be willing to pay a large premium.

Good Luck
 

PigsDad

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Is it really true that EVERY time you go there, you'll want to do so over new years, so that a floating week is completely unacceptable?

I'd recommend that you rescind, buy a floating ski week, and rent when you absolutely have to go over new years.
You brought up some very good questions that the OP should consider. However, I did want to correct one thing. There is no such thing as a "floating ski week" at Valdoro -- EVERY ski week at Valdoro is a fixed week, not just 51/52. You have to be quite lucky to snag any ski week (let alone week 52) at Valdoro if you do not own a fixed ski week.

What happens is that an owner needs to cancel their week, and then it frees up for other HGVC members to get that week. First off, not that many owners of fixed ski weeks cancel their reservation. Second, they can cancel anytime, so you don't know when a week will show up as available (anywhere from 9 months out to 1 day out).

Kurt
 

RLG

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You brought up some very good questions that the OP should consider. However, I did want to correct one thing. There is no such thing as a "floating ski week" at Valdoro -- EVERY ski week at Valdoro is a fixed week, not just 51/52. You have to be quite lucky to snag any ski week (let alone week 52) at Valdoro if you do not own a fixed ski week.
Thats good information about Valdoro. However, I was assuming that the OP's desire for a ski week wasn't limited to ONLY Valdoro. There are lots of other timeshares at Breck and there are lots of other ski resorts with timeshares.

BTW, I don't own at Valdoro but I'm going to be there in March using my HGVC points which cost me a LOT less than the OP was proposing to pay.
 

pjerickson

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Kurt,

I'm not sure where you got your information, but I believe you are wrong. At least I hope you are wrong, as I purchased a floating eoy ski week at Valdoro 2 yrs ago shortly before they closed out. I have not yet tried to reserve a ski week so I can't say how easy it is to get a reservation, but I did buy direct from the developer and have documentation guaranteeing me a ski week.

Paul
 

sml2181

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Just to clarify - I assumed that op wanted to own fixed week 52 at the Valdoro.
In that case, it isn't a matter of buying "just points".
Can you get a cheaper week 52 ski week? Yes, you can - without any problems. However, most popular (Starwood/Hyatt) ski timeshare resorts are not going to be that cheaper for that week. But - who knows what prices will be a year from now...?

I did a quick search for Valdoro resales and I saw one on www.myresortnetwork.com which is an eoy floating ski week. Forgot the price (was also doing other things) but do remember that it was much less than 23K - somehow I can't go to the website anymore otherwise I would have posted the link.

So, if you can do with a float week - I surely would recommend that. If you can do with a floating week in other locations, I would indeed rescind this HGVC week and look for other options first.
If you are sure you want that Valdoro week 52 - then I would say it wasn't a very bad deal.
 
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PigsDad

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Kurt,

I'm not sure where you got your information, but I believe you are wrong. At least I hope you are wrong, as I purchased a floating eoy ski week at Valdoro 2 yrs ago shortly before they closed out. I have not yet tried to reserve a ski week so I can't say how easy it is to get a reservation, but I did buy direct from the developer and have documentation guaranteeing me a ski week.

Paul
That is interesting -- when I did my sales presentation at Valdoro, they said every ski week was fixed. But then again, that came from a sales rep! (If their lips are moving...) :hysterical: It looks like I was fed a line (or they didn't know what they were talking about).

So with your floating ski week, how far out in advance can you reserve it? I assume 12 months (home resort advantage). Thanks for the insight!

Kurt
 

iiderman

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Feed the Otter, I don't think you overpaid for your week. We own week 52 in a 3BR.. we bought the week when Valdoro was still just drawings and never regretted it. I've rented our week 3 times for $4000. If you try to rent a week 52 in a resort like Valdoro you will see that you will make back the 23K very quickly. Also every 5 years we get two weeks.. weeks 52 and 53. You should ask the sales rep if this applies to you and if so get it in writing. We did and have already enjoyed our first 2 week stay over Xmas and New Years. with the next one coming our way in 2011.
 

FlyerBobcat

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Feed the Otter, I don't think you overpaid for your week. We own week 52 in a 3BR.. we bought the week when Valdoro was still just drawings and never regretted it. I've rented our week 3 times for $4000. If you try to rent a week 52 in a resort like Valdoro you will see that you will make back the 23K very quickly. Also every 5 years we get two weeks.. weeks 52 and 53. You should ask the sales rep if this applies to you and if so get it in writing. We did and have already enjoyed our first 2 week stay over Xmas and New Years. with the next one coming our way in 2011.
I am not commenting on overpaying or underpaying... But here are a few comments on that post:

  • This purchase is for even years, starting in 2010 -- so the 2011 "52/53 week bonus" would not be applicable.
  • And per the comment: "If you try to rent a week 52 in a resort like Valdoro you will see that you will make back the 23K very quickly." ----- By owning week 52 EOY, and with the intention of using it for a wonderful ski trip, I don't think the statement "make back the 23K very quickly" really applies here either.

Just a few thoughts...
 

pjerickson

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That is interesting -- when I did my sales presentation at Valdoro, they said every ski week was fixed. But then again, that came from a sales rep! (If their lips are moving...) :hysterical: It looks like I was fed a line (or they didn't know what they were talking about).

So with your floating ski week, how far out in advance can you reserve it? I assume 12 months (home resort advantage). Thanks for the insight!

Kurt
Or maybe I was fed a line:confused: As I said, I haven't tried to reserve a ski week yet so this is based on what I was told by the sales rep (your comment applies) and trying to read thru the legalese documentation they gave me. Anyway, it appears I can reserve beginning a year in advance of the start of the ski season (similar to the home resort advantage, but based on the ski season, not calendar year). It also appears that the window opens for the entire ski season. I think that means that I can start booking for a week in March about 15 months out.

Unfortunately for me, I was one of the suckers the sales reps prey on. I overpaid for something that I'm not likely to use much. Don't get me wrong, I absolutely love Valdoro but I only live about 1 1/2 hours from Breck, so we drive up to ski for the day. I do like that I can take advantage of the parking and hot tubs on a day use basis, but I probably didn't need to buy a ski week for that.

Paul
 

RLG

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And per the comment: "If you try to rent a week 52 in a resort like Valdoro you will see that you will make back the 23K very quickly." ----- By owning week 52 EOY, and with the intention of using it for a wonderful ski trip, I don't think the statement "make back the 23K very quickly" really applies here either..
Actually I think the original statement reflected the correct way to analyze things. If the OP absolutely has to have week 52 at Valdoro, his choices are to pay 23k to buy it, or to rent it. Paying the 23k saves him the difference between the rental cost and the maintenance. The other poster estimated the rental cost/value at 4k. If that estimate were correct, the "return" on his 23k is 13%, which is pretty good. Note that the pretax analysis isn't any different whether he's buying the week to use or to rent out.

I would point out, however, that I think 4k is too high an estimate for rent for week 52 even at a great resort like Valdoro. I own an even week 52 at Sheraton Mountain Vista and rented it last year for much less than that.
 

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I know that the simple rule of thumb is that resale is the only way to go, but perhaps foolishly I'm hoping this might be the exception to the rule. For whatever reason I'm fairly at peace with it, but by no means about to turn my back on the adivce of anyone who may know better.

We have five days to walk away from it. Any advice would be greatly appreciated.

Sorry for being long winded.

Thanks very much, in advance.
Beauty is in the eye of the beholder...

You certainly can get points much cheaper. And you may not be able to do much better on the resale market. I think the real question is do you see yourself using your home reservation (eoy) for years to come and being thrilled with it? You would need to be using it instead of "trading" it in for points.

Look at the numbers. Over twenty years you will have paid (conservatively) 12k for maint fees plus the original 23k. That is 35k for 10 stays.

If you love having that place to go eoy during Christmas and perhaps having family there and $3500 a stay is ok with you, enjoy the heck out of it !
 

FlyerBobcat

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Beauty is in the eye of the beholder...
You certainly can get points much cheaper. And you may not be able to do much better on the resale market. I think the real question is do you see yourself using your home reservation (eoy) for years to come and being thrilled with it? You would need to be using it instead of "trading" it in for points.
Look at the numbers. Over twenty years you will have paid (conservatively) 12k for maint fees plus the original 23k. That is 35k for 10 stays.
If you love having that place to go eoy during Christmas and perhaps having family there and $3500 a stay is ok with you, enjoy the heck out of it !
Just curious... Since we are estimating MFs over 20 years, should one consider estimating what he would be able to sell it on the resale market in 20 years, and throw that into the equation? :shrug:
 

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You should notice that the comments you're getting are similar to those you'd get if you asked your friends whether they thought your new girlfriend is pretty. How many do you think are going to be brutally honest?

I dont agree with the above statement.

I think most of the tuggers on this post are giving you their honest opinions.
You have two HGVC timeshare types.
1) Those that search and buy the cheapest possible points- ex: Dunkeld, flamingo or Bay Club etc. and almost always use those points to vacation in other higher-end HGVC
locations- ex: HHV HGVC Waik Valdoro etc. These Tuggers will never fully understand how you can spend so much money just to get your special place on a special date.
I heard it , from them, when I bought my HGVC Waik Event week.
2) Those who believe you should buy where you go and when you want to be there. They believe you get what you pay for. and Understand that timeshares are not bnecessarily the best investment ever. (probably better than the DOW these times) When purchased inexpensive points in HGVC Strip
I heard it from them.

Both types were sharing their honest opinions with me.

I enjoy both purchases fully.
 

iiderman

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RLG, our unit is a 3BR sleeping 8 and as I posted before was successfully rented 3 times for $4000 during week 52. The resort also rents out the same week for $900 a night plus tax and amazingly enough there are people willing to pay that. The 2BR should go for less.. probably for around $2700.

If you have to ski week 52 at a quality resort you have only two options, buy it or rent it. Exhange simply is not an option. That said 23k is a fair price for what you are getting.
 
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