ADVICE/COMMENTS on Potential TS purchase

[amanven]

First of all I want to thank all the members of TUG. The information here is great. I think I have learned more in the last 3 weeks from this site than I could in 3 years from anywhere else. I have two TS's I am considering purchasing but I am having difficulty making up my mind which is a better way to go so I would welcome some feedback from the people here so this is what I have so far.

Both TS's are located at the Sheraton Vistana Resort. We want this to be our primary vacation resort for at least the next 5 years and we have school age kids so March break will be when we want to use it.

The first is Fixed Week 11 in and pre assigned unit in the Falls section. Asking Price is $5995.00 seller is Negotiable. Last installment of the special improvement assessment due in 2009 for $640.00. MF estimated at $689.13. All fees and closing costs through GMAC will be $670.00.

The second is a Floating Week with in the Red/Prime season in the Fountains section in an pre assigned unit. Asking price is $2,000. All the upgrades have been done in the Fountains section and all the special assessments have been paid. MF is $603.00. Do not yet have the closing costs but it is through RE/MAX Properties SW Inc (timeshareprofessionals.com).

Keeping in mind that we want to go during week 11 in 2009 and for the next couple of years, is it worth the extra cost for the fixed week or will I be just as well of with the float week? If we get a float week is there still time to book week 11 for 2009 or is it getting too late. Does the fixed week have better exchange value than the float week should we ever choose to try to exchange for a different resort.

Have read comments about GMAC on this site. Does anyone know about RE/MAX?

Your thoughts.

 

[falmouth3]

I don't know much about either place. May I suggest that you join TUG and then you can read the reviews on all the resorts. I personally think that alone is worth the $15 to join - especially if you are thinking about buying.

Secondly, you may want to take a look at eBay. There are a lot of Sheraton Vistanas listed for sale there. I don't know one from another, but the prices you are quoting are a lot higher than the prices I've been seeing for this group.

I'm sure someone here will give you excellent, specific advice, but I figured I'd jump in with my two cents.


Welcome!
Sue

 

[Sunterra]

In today's market, that's way too much to pay for either. TS4Ms has better answers.

 

[amanven]

I have been to Vistana before so I know the sections and I don't have any doubts about it being the resort we want. I figured the fixed week was overpriced and considered making a counter offer since the price is negotiable. It is rather important to us to be able to get a March break week for at least the next few years. What I am trying to figure out is
1) Can I get week 11 just as easily with a float week (as soon as 2009)as I can if I bought fixed week 11.
2) Is it worth a little extra to have an assigned unit rather than having to wait until check in to know what unit you will get (and possibly get a unit in one of the less desirable parts of the resort) and is it worth the extra to know the upgrades are done and the assessments paid.
3) Is Fixed week 11 worth more from an exchange point of view than a float week?
4) Is it worth the extra to be buying through a realty company as opposed to ebay (I still have some reservations about ebay because I just find it hard to believe some people are willing to part with a TS for $100).

I know there are lots of Cascades units out there that are inexpensive but when you factor in the 2009 extra assessments they really aren't any less than a float week for $2000. I know $5995 is too much so what is a more realistic asking price? I see other owner asking as much as $15,000 for a resale unit. Do they have any realistic expectation of getting even half that?

 

[matbec]

Is March Break always going to fall on Week 11?

It is rather important to us to be able to get a March break week for at least the next few years.

You don't say where you're located, but based on your reference to March Break, I'd guess you're somewhere in Canada. In Ontario, March Break tends to alternate between weeks 10 and 11 (2 years on weeks 10, then 2 years on week 11). I don't know if this is necessarily the case for you, but this might be a factor in your considerations.

 

[falmouth3]

Many, if not most of the sellers on eBay get their inventory by having the original owners pay them $3000 or more to take the TS off their hands. Or the owners donate to charity. There is a Fountain unit on eBay right now that was donated to charity for sale. It sells on Thursday and the current bid is $100. You might want to watch it to see what it sells for.

Sellers who are asking over a thousand for this type of resort are dreaming, IMO.

If your kids always have week 11 off then you'll probably want a fixed week. But, keep in mind that Christmas isn't always the same week of the year, and neither is 4th of July. You may find you have a week falling when your kids are not on vacation. When I owned an Orlando resort week, I could call exactly 1 year to the day ahead of when I wanted my week to start. That way I could always be sure that I was getting Easter week. A floating week gives you more flexibility, but you have to planahead if you want a high demand week. Some people prefer a fixed week, others like a floater.

 

[philemer]

TS4Ms has better answers.

That's debatable. Both site's have very knowledgeable members.

 

[ace2000]

Here's a listing of closed eBay sales...

http://completed.shop.ebay.com/item...ompleteZ1QQ_armrsZ1QQ_fromZR7QQ_mdoZQQ_sopZ12

It appears that Sheraton Vistana contracts have sold for a wide range of prices on eBay. Sorry, I don't have time to analyze why. Perhaps, someone else that owns there can.

I prefer eBay for my purchases. There have been so many sales at that resort, I'm sure that if you're patient, you'll find what you're looking for. But, from what I see, thousands of dollars appears to be way too much.

P.S. It looks like you'll have to get a login set up to view my link.

 

[calgarygary]

First, hopefully a mod. seeing this thread will move it to the Starwood forum where you find those most familiar with Starwood.

Second, I believe that you are considering paying way too much for either scenario. Anyone listing a Vistana for $15K is either dreaming or more likely being deceived by an upfront listing agency and believes that $15k is attainable - it's not and neither is half that at Vistana.

The 2k listing in the Falls is closer to true market value and you should be able to get your week 11 if you remember to call at the 12 month mark.

The Vistana resorts are voluntary resorts within Starwood and because of that, sell for half and sometimes less than what Vistana Villages sells for. I know you are interested in VR but I personally think that VV has greater value.

 

[grgs]

I don't think you'll have any trouble getting whatever week you want as long as you book 12 mos. out, so I think a float week will work just fine.

If I were you, I would look at picking up a Lakes unit. That phase just finished with the special assessment so you won't need to pay that. Also, the prices on those units have been quit low lately (probably a combination of the downturn in the economy, as well as buyer confusion as to which phases will be paying a special assessment shortly). These are the prices that Lakes units have sold for recently on e-bay:

9/1/2008 2 bd sm EY FL 1675
9/20/2008 2 bd sm EY FL 589
9/22/2008 2 bd sm EY FL 516
9/22/2008 2 bd sm EY FL 325
10/6/2008 2 bd sm EY FL 399
10/15/2008 2 bd sm EY FL 3
10/17/2008 2 bd sm EY FL 1516

Best of luck!

Glorian

 

[richardm]

Make offers...

Forget about what the asking price is.. Simply make your offers.. Worst case is the seller will say no.. There are several sellers that show as fixed week 11 in inventory unless the assigned unit for that one really appeals to you.

Your need to decide what meets your needs better- the fixed or float ownership type. You are dealing with cooperative brokerages that both routinely pull sellers from TimesharesOnly, so simply deal with the individual agent you feel most comfortable with and tell them to present your offer for acceptance. If that seller says no, move on to a few others.

I do strongly recommend title insurance for this resort, since many of these ownerships have passed through a number of owners.

Good luck and enjoy Orlando!

 

[amanven]

Thanks to everyone for the great advice. I am going to do what richardm said. Make an offer I can live with and if the seller doesn't take it so be it!

BTW matbec you were right I am in Ontario Canada.