ADVICE/COMMENTS on recent TS purchases

Toughbeat

Toughbeat

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Hi all...new to TS ownership....I was a guest at Sheraton Hacienda Del Mar in Cabo last year and was very impressed by the resort...I went on their presentation there but could not/would not pay the prices they were quoting.

I still wanted to be an owner there and finally through ebay, I bought a 1br/2ba for $1200 with annual MF of about $700.

I also bought one in Orlando thru ebay for $300 at a silver crown resort (3br/3ba) with MF of $800.

QUESTION: what are your opinions about purchasing this way and why are they sooooooo cheap? Is this the state of timshare prics today and if so, why aren't more and more people buying up these properties at such dirt cheap prices?

Also, I'd like your opinions about my purchases..maybe I just need a bit of reassurance.

I look forward to becoming an active member of this community and appreciate the walth of knowledge and insight gained here.

thanks
 
Welcome to TUG! :hi:

Timeshares are a lot like buying a new car - as soon as you drive them off the lot, they depreciate drastically. Even the most expensive timeshares are only holding about 50% of the original value these days.

Also, timeshares are a luxury purchase, and with the state of our economy, lots of people are dumping theirs.

Don't forget the maintenance fees - I see some great timeshares on ebay for $1, but closing is $500+ and the maintenance fee is $1,000 a year, so they aren't really as cheap as they might appear at first glance.

As far as Mexico and Florida - those areas are over-built with timeshares, so there are always a ton of resales and rentals available at rock bottom prices.
 
I agree with everything Denise said. I also want to add that as long as you're comfortable with the mf & purchase price and like the locations, then you did great!

Congrats, and I hope you get years of great trips from your purchases!

Glorian
 
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thanks

Thanks for replying and giving me that bit of reassurance I needed. As I said before, I'm new to TS ownership and look very forward to years of nice vacations..maybe some exchanges, but that seems to be a whole different ballgame. (I really need to school myself here on this.)

I picked the HDM in Cabo because I fell in love with that resort and figured it certainly is a place I'd like to go to year after year if I don't exchange it.

The Silver Lake resort in Orlando was what I considered to be a great bargain...3 br / 3 ba lockoff and seller paid both closing costs and transfer of ownership fee..i only paid the $300 plus the $800 for 2009 MF. That's it! I can also deposit/exchange it with RCI as 2 units..a 2br/2ba and a 1br/1ba. Seems ok right?

Please kep the advice/comments coming..i have alot to learn.:)
 
Budget ED said:
Please kep the advice/comments coming..i have alot to learn.:)
Click to expand...

For lots of good info. about timesharing, click on the Advice link in the red bar at the top of the page.
 
If you bought where you want to vacation, you did GREAT! You won't have to pay II or RCI fees or trading fees. Just book and go. I wouldn't get an exchange company membership until/unless you're interested in exchanging.
 
If I can add my two cents worth---I would say that the original price you paid is SOOOOOOOOOOO much less than the price asked from the developer years before---so in that respect you did VERY WELL!!

If it's okay---I would caution you to be more/very aware of Maintenance Fees. Since we all have to pay them, we'd all like for them to remain somewhat predictable/constant---let's say at a figure of $400+ for 2008 is a 'good' MF.

Florida is higher, and has its added taxes, etc.

In summary, what I'm trying to say is, I would not buy a hypothetical timeshare as a 'great deal' of an original price of $1 if it had Maintenance Fees of $900 per year.

I try to balance price/MF/tradability, etc.

JMHO,
Pat
 
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I see your point Cowboys Fan...I'm assuming the Orlando one has higher MF because it's a 3br/3ba ?
 
Budget ED said:
I see your point Cowboys Fan...I'm assuming the Orlando one has higher MF because it's a 3br/3ba ?
Click to expand...

That would be the main reason. Another is that Florida timeshares have higher property taxes (along with California & Hawaii).

Glorian
 
You should join TUG. The review section is priceless especially when it comes to trading. No suprises.... People will also tell you where they ate and what they did.
 
I will definitely join TUG...I just bought 2 TS and plan to be a happy owner and vacationer for many years to come..especially since I chose to own where I want to vacation and would not be at all disappointed if I didn't exchange. I'm looking forward to the wealth of info available here and feel as though I've saved tons of money by reading these boards before buying.

Is there a place here where owners can exchange with each other in earnest and not worry about scams? Does TUG allow/encourage this?
 
I think the only comparison to do on what is 'cheap' is to do a price comparison against previous eBay actual sales and leave the developer price completely out of the equation...

The free 'market' has determined that the price of week at 'the Grand Resort', for the specific week, and for the maint fees to pay is worth a total of *substitute price here*.

Leave the developer price out of the equation and you'll do fine. I chose eBay specifically because they have the most resale volume.

Good luck!
 
Some Of The Best Timeshare Advice I've Seen Anywhere.

ace2000 said:
Leave the developer price out any equation and you'll do fine.
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Exactly !

It's the full-freight timeshare company prices that are out of whack with reality.

That's why they have to fast-talk people into subjecting themselves to their high-pressure, arm-twisting, guilt-tripping, psychologically manipulative sales pitches. That's the reason they offer timeshare-tour freebies as the only way they can get people in the door.

That's why the timeshare companies have to push customers in to buying now-now-now, before people have a chance to think it over & discover the truth about what's what in the timeshare biz.

All timeshares are used-used-used by the time anybody shows up & checks in -- an essential fact that the timeshare sellers never get round to mentioning.

To figure out the value of a timeshare -- yours, mine, anybody's -- cleanse your mind of whatever the timeshare sellers say & go look at what that timeshare goes for in a recent resale transaction between a willing seller & a willing buyer.

Anything the timeshare company timeshare sellers say about the worth of a timeshare is fantasy.

The timeshare biz is overripe for new business model based on Car-Max for resales & based on Wal*Mart for "new" timeshares.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
 
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Budget ED said:
I will definitely join TUG...I just bought 2 TS and plan to be a happy owner and vacationer for many years to come..especially since I chose to own where I want to vacation and would not be at all disappointed if I didn't exchange. I'm looking forward to the wealth of info available here and feel as though I've saved tons of money by reading these boards before buying.

Is there a place here where owners can exchange with each other in earnest and not worry about scams? Does TUG allow/encourage this?
Click to expand...

Tug does have a direct exchange board. I have done quite a few and have been very happy with the results.

Also check out the independent exchange companies like DAE and Tradingplaces
 
I think you did great! I've stayed at Hacienda del Mar, and it was one of my favorite timeshare stays. Wonderful resort!

With respect to using the direct exchange boards -- TUGgers are the most wonderful family that I have found anywhere on the internet. I could say categorically that if you do business with a TUGger, you will get treated fairly. That said, sure, scammers find their way onto these boards once in a while. But they're quickly chased away. Not by any negative comments, but by people asking astute questions that indicate to the scammer that he won't find any marks in these waters.

Welcome to TUG!

-Bob
 
Who Says Orlando Timeshare Fees Are The Highest ?

grgs said:
That would be the main reason. Another is that Florida timeshares have higher property taxes (along with California & Hawaii).
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I like my Orlando timeshare maintenance fees better than my Arkansas timeshare maintenance fees.

Orlando = Just under $800 per year for 3BR lock-off.

Arkansas = $475 per year for 1BR unit.

Sheesh.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 
You got a good price on the Hacienda Del Mar which is a nice resort. It is also nice that it is next door to the Sheraton so you can get some extra benefits such as their business center and more restaurants etc. The good news is that if you get tired of HDM, at that price you should be able to sell it and not lose anything. The Orlando unit is unfortunately another story. Depends on which season it is. If it is summer you can always resell it. If not, you might have a difficult time reselling it but again even if you lose money it will be a good timeshare to get your feet wet with the trading angle. Good luck and have fun with timesharing. Funtime
 
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