Are the buyers becoming too cheeky with the low ball offers?

[DannyTS]

I have a listing I should have probably deleted, for a number of reasons not too sure we actually want to sell even if somebody offered us full price. In the last couple of weeks I received several very low offers. Any similar experience?

I am curious what will happen in the timeshare market. The exit companies continue the radio ads so they are still trying to get business. However, the number of ebay listings is down by 40-50% from the peak so they are probably losing business as well. As we know, their listings have been one of the reasons the timeshares were losing value, I do not think they care much about the selling price.

 

[elaine]

a low ball offer is fine, IMHO. You can not reply or say no. In these economic times, esp. if no other offers, some owners might take it. Doesn't hurt to try. Lot's might now just want to get rid of a TS.

 

[Passepartout]

Hard for me to imagine that there are really any offers at all in the current mood. I can't be the only one to notice a total absence of 'How do I rescind' posts.

 

[geist1223]

¿How is it cheeky? They made an offer. Accept, counter, ignore.

 

[dioxide45]

Hard for me to imagine that there are really any offers at all in the current mood. I can't be the only one to notice a total absence of 'How do I rescind' posts.

That is because all developer sales are shut down, pretty much worldwide. Resales can still happen because listings are still up.

 

[SmithOp]

You answered your question in the first sentence, clearly you are not a motivated seller. Did you indicate “firm offers only, no lowball offers will be considered”?

Travel for this year is in the tank, I wouldn’t expect sales to pick up until fourth quarter this year when people are back to work and have spendable income.


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[DannyTS]

¿How is it cheeky? They made an offer. Accept, counter, ignore.

What if somebody offers you 30% of what you think your house is worth?

 

[DannyTS]

Did you indicate “firm offers only, no lowball offers will be considered”?



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No, I did not. I am not bashing those that may make those offers, like everyone I have done in the past myself. I am just saying it seems that there are a lot of such offers lately. Market will settle this.

A lot of people may want to sell now but the truth is that most of us see it as a long term commitment. The fact that I cannot travel in the next say 3 months does not mean I will not enjoy my timeshare for the next 10 years.

 

[wackymother]

What if somebody offers you 30% of what you think your house is worth?

I get your point, but of course timeshares are not like houses. They're not even like used cars.

 

[elaine]

What if somebody offers you 30% of what you think your house is worth?

were the market price of houses in your neighborhood in that 30% range? we've had people think their houses were "worth" $200K more than the market in the neighborhod--they took them off the market or sold for $200K less eventually.
Have you seen actual recent sales pricing of your TS, such as closed ebay sales, etc. and not just asking prices? for ex, I have a 4th of July week at the beach. TS that was sold by developer for $30K that I bought resale for $8K, which was a great price at the time. Now the market value is under $3K. It would be reasonable for me to think that it's still worth $8K, but the market says otherwise.

 

[dagger1]

We have never meant to be cheeky, but We have always offered significantly less than the asking price on Redweek or the “Buy It Now” eBay listings. We have always looked for an extremely motivated seller. Time has always been on our side.

 

[DannyTS]

Have you seen actual recent sales pricing of your TS, such as closed ebay sales, etc. and not just asking prices? for ex, I have a 4th of July week at the beach. TS that was sold by developer for $30K that I bought resale for $8K, which was a great price at the time. Now the market value is under $3K. It would be reasonable for me to think that it's still worth $8K, but the market says otherwise.

I was not comparing to the developer price or to the resale price. Considering your example it is like someone is offering to pay just the transfer cost for a timeshare you think may be worth 3k plus transfer costs

 

[TravelTime]

I have sold 6 timeshares since beginning of Covid. All for good prices. No low ball offers.

 

[Panina]

I have sold 6 timeshares since beginning of Covid. All for good prices. No low ball offers.

You just answered my question. I was going to post do you think if I post the timeshares I want to give away, will I have takers?

 

[TravelTime]

You just answered my question. I was going to post do you think if I post the timeshares I want to give away, will I have takers?

Yes, you will have takers especially if you are giving them away. I am really surprised that I have been able to sell timeshares now. I have sold about $40,000 worth of timeshares since Covid. I still have a bunch left to sell but I am happy with the progress so far.

 

[jackio]

You just answered my question. I was going to post do you think if I post the timeshares I want to give away, will I have takers?

I just bought one off Ebay for $125. The takers will be there, and you always offer great weeks.

 

[DannyTS]

You just answered my question. I was going to post do you think if I post the timeshares I want to give away, will I have takers?

Who said the one I have listed is a giveaway?

 

[Panina]

Who said the one I have listed is a giveaway?

No one, I was replying to @TravelTime. I was curious if many were out there still looking, real takers.

Vulture Lookers are always out there for freebies and timeshares that cost money. For freebies These types of lookers will want closing costs, transfer fees, a few years of mf’s, etc even for good freebies.

It is about a real looker wanting what you have. For timeshares that we are selling, like any real estate transaction, supply and demand will dictate price. The right price sells sooner rather then later.

 

[dioxide45]

What if somebody offers you 30% of what you think your house is worth?

What if you based the price of your how on what you think it was worth in early 2008 and someone made you an offer in early 2009? That is kind of what is at play here. What a timeshare was worth in February may be far more than what you could sell it for now.

 

[CalGalTraveler]

The market will be flooded with timeshares sales once MFs hit this fall. There is only one house in each location and buyers don't want to upset the seller and lose the deal.

Timeshares are not unique like houses. If the first seller rejects a lowball offer, a buyer can go down the list and get the exact same unit from another seller. If the seller is upset, well, there will likely be another seller who would be overjoyed at exiting.

 

[emeryjre]

It is all about supply and demand, plain and simple. If nobody wants to buy, the offers will be low. If there are lots of buyers, than the prices will be bid up. As a seller you might have a "blind spot" as to the value of your timeshare.

Another thing is the difference between an informed buyer and an uninformed buyer. if I do some homework, I can pick up timeshare weeks and points for significant discounts to and in some cases nothing, . At the same time, developers are getting top dollar for the same units to uninformed buyers.

At the current time some timeshare owners feel their timeshares have little value because of use limitations imposed by Covid 19 social restrictions. Perhaps a financial squeeze is also hurting their outlook. But all these issues still go back to demand for the item being offered.

If you want top dollar, don't advertise to people that are only going to buy wholesale and look for uninformed buyers.

 

[TravelTime]

Timeshares are not like a house. A house is an asset that usually appreciates over the long term. Timeshares are a commodity and depreciate. Like @CalGalTraveler said, there are so many timeshares available that are identical that a buyer can just move onto the next one.

 

[elaine]

concur--TS are a luxury, no one needs one. They tend to take a bath during hard times. And market gets flooded with resales.

Timeshares are not like a house. A house is an asset that appreciates over time.

Even houses feel the effect as well, esp. if you bought in some areas in 2004-early 2008. We have houses that are still $100K+ below what owners paid. Some are still 40% lower-my neighbor, for example. Many who put their homes up for sale got a big reality check. Realtors had to tell clients that pricing was not based upon what they had paid or what they thought it was worth, but what the current market would pay.

 

[TheTimeTraveler]

Timeshares are similar to used cars. Some are worth more, some are worth less, and some are worth nothing (remember the Yugo in the 80's). It is the buyer who actually determines the value based upon the payment agreed upon what he/she is willing to pay......




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[TravelTime]

concur--TS are a luxury, no one needs one. They tend to take a bath during hard times. And market gets flooded with resales.


Even houses feel the effect as well, esp. if you bought in some areas in 2004-early 2008. We have houses that are still $100K+ below what owners paid. Some are still 40% lower-my neighbor, for example. Many who put their homes up for sale got a big reality check. Realtors had to tell clients that pricing was not based upon what they had paid or what they thought it was worth, but what the current market would pay.

Yes, I know that has happened in many regions of the country. I should have said “usually” they appreciate over the long run. I will update my post.