[ 2015 ] Westin Nanea on sale now

[Jamy]

We just got back from a week at WKORV-N on an explorer package. At the presentation they offered to sell us a 2BR RV, EOY for $31,000 after taking off $5,000 for our purchase of the explorer package. They were claiming that this was a 20% discount off what they have been selling at, but the price was only good while we were in Maui, would have been a payment of $444 a month for ten years and they offered to requal my SVV. I was really tempted, but we are possibly moving so the $444 a month was just not doable. So, they may be coming down on price.

Oh, also interesting was that they were claiming that WKORV-N and WKORV-S are both completely sold out and we could never get a unit over there.. I tried not to roll my eyes at that. Also interesting is that they are only offering to requal specific resorts.

Just thought I would update on the current offers.

 

[DeniseM]

They are completely sold out, and have been for years, but that has nothing to do with the resale market, where there is constant turn over.

I'm so glad you escaped!

 

[DavidnRobin]

1st rule - they are not truthful. 20% discount? Nope. They can play with the incentives, but the basic price structures are fixed (for good reasons) - if they move then they move together.

Do not finance a TS unless you plan to pay it off in the short-term.

Nanea is a SVN Voluntary resort (HomeOption/StarOptions that can be used for SVN are not transferred to buyer upon resale). If history is any indication (compare WKORV/N and WPORV) - this will result in poor resale value. It seems that many folks buying Nanea do not account for this in there purchase.

 

[LisaRex]

Think of the vacations you could take for $444 per month for 10 years! And that undoubtedly wasn't even ocean front. That ends up being over $53,000 BEFORE the $20-30k in MFs you'd pay over the same period.

Unless I had money to burn (e.g. without financing), and could afford OF at Nanea, there's no way I'd buy there. (And even then, I'd probably just rent there.) The entire resort is coded either OF or Other. If you buy Other, your villa could face the parking lot!

 

[SMHarman]

Think of the vacations you could take for $444 per month for 10 years! And that undoubtedly wasn't even ocean front. That ends up being over $53,000 BEFORE the $20-30k in MFs you'd pay over the same period.

Unless I had money to burn (e.g. without financing), and could afford OF at Nanea, there's no way I'd buy there. (And even then, I'd probably just rent there.) The entire resort is coded either OF or Other. If you buy Other, your villa could face the parking lot!

So a week in a 2 bed for 444x12+2500 so 7828 if the fall in value is to near zero. Not sure what a premium week at prinvecille is worth.

That's 7828 or 1118 a night.
Picking week commencing May 7 a similar room is 789 a night (island view) or 899 ocean.

5523 plus 13 pct. 6263. Cheaper to rent from starwood.

 

[LisaRex]

5523 plus 13 pct. 6263. Cheaper to rent from starwood.

Plus you get daily housekeeping if you rent from Starwood. There's nothing to stop Jamy (or anyone) from simply setting aside $444 each month for a year, and then just renting from an owner. For $5300 (which doesn't the include MFs he avoided paying), he can splurge on OF and STILL have nearly a grand left to buy MaiTais or, my personal favorite: Tropical Monkeys.

P.S. Though I'd argue that Nanea's resale value will not ever fall to zero, even with its voluntary designation. WPORV still has some resale value and it's not nearly as popular as WKORV. I do think the resale value will be much less than either of the mandatory locations. First because SOs don't transfer upon resale, which I think sucks for all SVN member (because as time goes by and ownership changes hands, fewer units will be deposited into SVN for exchange). But, IMO even more importantly because of that "Other" view designation. I think that it was a HUGE mistake on Starwood's part to not distinguish OV or even IV from PLV (Parking Lot View). I would personally never buy IV at WKORV or "Other" at Nanea.)

I mean, I cannot imagine my disappointment and fury were I assigned a PLV after agreeing to fork out $85,000 for the privilege of booking a 2 bdrm once per year. I do not envy the front desk clerks when it's high season on Maui!

Aloha!

 

[okwiater]

P.S. Though I'd argue that Nanea's resale value will not ever fall to zero, even with its voluntary designation. WPORV still has some resale value and it's not nearly as popular as WKORV. I do think the resale value will be much less than either of the mandatory locations. First because SOs don't transfer upon resale, which I think sucks for all SVN member (because as time goes by and ownership changes hands, fewer units will be deposited into SVN for exchange). But, IMO even more importantly because of that "Other" view designation. I think that it was a HUGE mistake on Starwood's part to not distinguish OV or even IV from PLV (Parking Lot View). I would personally never buy IV at WKORV or "Other" at Nanea.)

I think Nanea Oceanfront may actually hold similar value to WKORV Oceanfront. You're right of course that WKORV is mandatory, but the floorplan is not nearly as ideal for families. The dedicated 3-bedroom units at Nanea, with the dead-on ocean views, are going to be really unique and highly desirable, even without StarOptions. (And nobody in their right mind would trade such a unit for StarOptions anyway with the MFs and rental potential.)

 

[SMHarman]

Plus you get daily housekeeping if you rent from Starwood. There's nothing to stop Jamy (or anyone) from simply setting aside $444 each month for a year, and then just renting from an owner. For $5300 (which doesn't the include MFs he avoided paying), he can splurge on OF and STILL have nearly a grand left to buy MaiTais or, my personal favorite: Tropical Monkeys.

P.S. Though I'd argue that Nanea's resale value will not ever fall to zero, even with its voluntary designation. WPORV still has some resale value and it's not nearly as popular as WKORV. I do think the resale value will be much less than either of the mandatory locations.

Aloha!

I agree it will retain some value but this was back of the envelope and I was throwing that important assumption out there.

That said even if resale is 10k for resort view the math presented does nit change much. The cost for the owned week is still advice hotel rates and a OV owner rent is still better value.

I think Nanea Oceanfront may actually hold similar value to WKORV Oceanfront.

Again I agree but the deal under discussion was for resort view

 

[LisaRex]

I think Nanea Oceanfront may actually hold similar value to WKORV Oceanfront.

I agree.

That said even if resale is 10k for resort view the math presented does nit change much. The cost for the owned week is still advice hotel rates and a OV owner rent is still better value.

Absolutely agree, but just wanted to point out that it probably won't lose 100% of its value.

Now that I think about it, other than the voluntary SVV/SVR and possibly outliers like the Port St. Lucie property, are there any Starwood TSs that have lost 100% of their value? IOW, owners have to give them away?

That also has me wondering how Villas in Cave Creek are faring since they bucked SVN? It looked like it could be a really unique place to stay, and I have to say that I rather admired that they booted out their overlord, but I'll admit I haven't followed it at all.

 

[SMHarman]

I agree.



Absolutely agree, but just wanted to point out that it probably won't lose 100% of its value.

Now that I think about it, other than the voluntary SVV/SVR and possibly outliers like the Port St. Lucie property, are there any Starwood TSs that have lost 100% of their value? IOW, owners have to give them away?

Summer weeks in WKV have no value. 1450 mf and 700 rental value or easy exchange in II with anything.

Similarly even HRA as near zero value units especially with the transfer costs.

 

[dsmrp]

Summer weeks in WKV have no value. 1450 mf and 700 rental value or easy exchange in II with anything.

Similarly even HRA as near zero value units especially with the transfer costs.

I guess SDO and the two in Palm Desert area too in summer.

That also has me wondering how Villas in Cave Creek are faring since they bucked SVN? It looked like it could be a really unique place to stay, and I have to say that I rather admired that they booted out their overlord, but I'll admit I haven't followed it at all.

I was down in Phoenix area in early January, and curious about Cave Creek. It was a pretty funky area (in a good way), could see it had been a throw back to the 60's, earthy, non-conformist... I didn't get to the Villas in Cave Creek itself, but if their owners were anything like their surrounding towns, I can certainly see them voting out Starwood

 

[kds]

Just bought a 2 BR resort view at Nanea...

We just completed a similar trade-in+purchase+requal, purchasing a 2BR resort view at Nanea.

Purchased:

• WKORV-NN 2BR RV 8 nights (60.8k)

Requalified:

• WKORV 2BR OV (18k)
• SMV 2BR Winter Week (5k)

Traded-in:

• SDO 2BR (purchased for 5k, traded-in for 19k)

Total Cost: 61 + 18 + 5 + 5 - 19 = $70,000
Total StarOptions: 160,000 + 148,100 + 148,100 = 456,200
Total StarPoints: 86,400 + 80,000 + 85,800 = 252,500

 

[Markus]

We just completed a similar trade-in+purchase+requal, purchasing a 2BR resort view at Nanea.

Purchased:

• WKORV-NN 2BR RV 8 nights (60.8k)

Requalified:

• WKORV 2BR OV (18k)
• SMV 2BR Winter Week (5k)

Traded-in:

• SDO 2BR (purchased for 5k, traded-in for 19k)

Total Cost: 61 + 18 + 5 + 5 - 19 = $70,000
Total StarOptions: 160,000 + 148,100 + 148,100 = 456,200
Total StarPoints: 86,400 + 80,000 + 85,800 = 252,500

They let you requalify two weeks? Normally it is one for one. Was your purchase somehow split in two, or did they make an exception?

Markus

 

[Helios]

They let you requalify two weeks? Normally it is one for one. Was your purchase somehow split in two, or did they make an exception?

Markus

Probably because of the new $s the transaction generated.

 

[capjak]

The price per star option at WKORVNN seems to have increased since Feb 19 when I was quoted $0.38 per star option (i.e. $55100 for 145000 star options) Will be interesting to see when it increases.

 

[GregT]

We just completed a similar trade-in+purchase+requal, purchasing a 2BR resort view at Nanea.

Purchased:

• WKORV-NN 2BR RV 8 nights (60.8k)

Requalified:

• WKORV 2BR OV (18k)
• SMV 2BR Winter Week (5k)

Traded-in:

• SDO 2BR (purchased for 5k, traded-in for 19k)

Total Cost: 61 + 18 + 5 + 5 - 19 = $70,000
Total StarOptions: 160,000 + 148,100 + 148,100 = 456,200
Total StarPoints: 86,400 + 80,000 + 85,800 = 252,500

Nanea looks like a terrific property, I know you will enjoy it!!

I am confused about the Requalify of the WKORV property. I thought requalify worked only for Voluntary properties, not Mandatory? I may be misunderstanding. Please advise and thank you!

Best,

Greg

 

[Sicnarf]

Nanea looks like a terrific property, I know you will enjoy it!!

I am confused about the Requalify of the WKORV property. I thought requalify worked only for Voluntary properties, not Mandatory? I may be misunderstanding. Please advise and thank you!

Best,

Greg

You get Starpoints in addition to Staroptions.

 

[Helios]

You get Starpoints in addition to Staroptions.

And SOs count towards Elite.

 

[DeniseM]

I am confused about the Requalify of the WKORV property. I thought requalify worked only for Voluntary properties, not Mandatory? I may be misunderstanding. Please advise and thank you!

If you buy a mandatory resort on the resale market, you get Staroptions, but you don't get Starpoints, and it doesn't count towards Elite Status.

"If" those things are important to you, then it may be worthwhile to requalify a mandatory resort.

It probably is not a good value unless you are going for 5 Star Elite and you have the income and time to fully utilize the perks.

 

[DavidnRobin]

or...

If you are going to buy from SVO anyway (after thorough research which involves TUG, and intense soul searching ) - might as well requal a resale Mandatory VOI (TS week) if that is all you have to offer. A Voluntary resort has more requal value because regains SOs, but not always what is in a RESALE portfolio.
I did this.
YMMV

 

[pedro47]

That video is awesome!

 

[pedro47]

The photos of this new resort are awesome and I can understand why construction is moving so fast on this project. Everyone want an ocean front villa. These villas are selling like hot cakes I feel to new young timeshare owners, plus there are no resale villas for sales and that is my opinion only.

 

[DeniseM]

That video is awesome!

Hi Pedro - Dave (who has the last post in this thread from April ) posted a turtle/barracuda video in a different, more recent thread - is that where you meant to post?

 

[Smithsingeneva]

Here is what I was offered at Nanea on my WKORVN stay this week. I bought WKORVN 5 years ago. Back then I found TUG at the pool before the presentation, decided to buy resale, went to the sales pitch and bought there knowing I was going to rescind (wanted examples of the real paperwork), went to the post office immediately afterward to send the recission, and hired Syed 3 months later to buy a 2BR OV resale. I've never thanked all of you for your great advice. We love our WKORVN resale unit - the developer salespeople are always amazed at how much less we paid. Needless to say, we rejected this Nanea offer. Thanks again for saving me and my family a ton of money.

 

[rubbernyc]

We were offered the lowest cost option of:

Annual 1BR, RV 81,000 SO, $30,780 and MF of $1440.06

We still did not want to pay that much since we could get a resale at WKORV for half that, so they "found" special inventory

Biennial ( odd years) 1BR, RV unit, 95,700 SO for $20,576 and MF of $850.

We bit on that since we need the extra time and have a waiting list of family and friends that want to travel with us.