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Advice on buying Canyon Villas

DebbieF

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I am looking for an eoy here. A few have been listed on Ebay, but I haven't had any luck yet. In Nov. I put an offer in with an owner whom I got from one of the websites, but she wanted at least $7500 which is what she still owes on it. I followed up last mth, letting her know I was still interested, and would be willing to go as high as $6500. Just got an email from her asking if I was still interested. The last annual on Ebay didn't even meet the reserve-last bid was $8400. Looking for opinions-$6500 too high for an eoy in today's climate? Thanks for any advice!

Debbie:eek:
 

Stefa

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Debbie

I'm hardly an expert, so hopefully someone with more knowledge will chime in, but here are a couple of things to consider.

The fact that the seller hasn't had any takers suggests that the price could be a little (or a lot) on the high side.

Ebay prices can be all over the place, so it's hard to judge the market by one or two auctions. There is another CV on ebay right now, so you might want to see how that one ends before you proceed.

How much (if anything) is it worth to you to not buy from ebay? It is worth something to me, especially given how long Marriott is taking to process resale transfers. I still look at ebay, but there are a lot of sellers I won't even bother with, so my chances of picking up a bargain on ebay are decreased.
 

DebbieF

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She actually has it listed for 10K, so she is coming down quite a bit. The annual on ebay now is the one that didn't meet the reserve a few wks ago and is now relisted. I haven't seen too may eoy's, so I may go for it-I just ckd my old email to the seller and I had offered $6200.
 

wuv pooh

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I would look at it financially:

6,200 x .05 = $310 per year
MF = $420 per year

Total is $730 x 2 = $1,460.

Nightly is $1,460/7 = $208

Would you be happy staying there for $208 per night?

You could cut the cost by locking off, but it seems too much to pay for an EOY to me when you can probably find an every year for less than $10,000.
 

oinksx3

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I don't understand your math. Is the .05 multiplier to spread the sale cost over twenty years? Why do you add the MF's and then multiply by two? I am always interested in analytical costing approaches. Thanks

Mike
 

wuv pooh

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I don't understand your math. Is the .05 multiplier to spread the sale cost over twenty years? Why do you add the MF's and then multiply by two? I am always interested in analytical costing approaches. Thanks

Mike

I use 5% as my cost of capital for these types of transactions. That is the "cost" to me of spending the money. Since it is an EOY you only pay half of the MF each year so you have 2 years of MF and 2 years of capital for each 7 days of use EOY.
 

dlpearson

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I am looking for an eoy here. A few have been listed on Ebay, but I haven't had any luck yet. In Nov. I put an offer in with an owner whom I got from one of the websites, but she wanted at least $7500 which is what she still owes on it. I followed up last mth, letting her know I was still interested, and would be willing to go as high as $6500. Just got an email from her asking if I was still interested. The last annual on Ebay didn't even meet the reserve-last bid was $8400. Looking for opinions-$6500 too high for an eoy in today's climate? Thanks for any advice!

Debbie:eek:

What season is it for?
 
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