Bought Desert Will Pre-Construction

[mtrapp]

Hi:
We just bought a bennial pre-construction 2Lo at Dessert Willow in Palm Dessert. Paid $18,700 (81,000 options). We have been looking at timeshares for years and on our Explorer return we bought. We are questioning if we should have bought, will we use it, can we exchange when we want......and we have some buyers remorse. We have 7 days or until April 1 to cancel.

I have read some threads on the forum, some suggest buy a resale at the correct location and get it retroed into the Starwood system.
We are just looking for advice....any advice.

 

[Ken555]

RESCIND NOW. Of course, that's just my opinion.

I'd suggest spending $20k or so and get 148,100 StarOptions EVERY YEAR with a Platinum Kierland 2-bed instead. Why buy a voluntary property when you can get alot more and mandatory instead? And, you bought EOY (every other year)? In that case, it sounds like they're charging considerably more than their worth, in my opinion.

You're doing what I almost did. I signed the papers for the Mission Hills North and then realized I didn't want it - and then they canceled that development and moved it to the Desert Willow now instead.

Of course, much of your decision may depend on when you want to travel, how large a unit you need each time, and all the other criteria you can read about on this forum. I find a Kierland Platinum to be perfect for my needs - but I travel during non-peak periods (no spring break, summer, etc at the popular resorts).

 

[Bill4728]

If you like the desert buy Kierland resale and save thousands ( still in SVN) or buy Westin Mission Hills resale and save tens of thiousands ( but not in SVN) Buy starwood direct only when you have another starwood resort to "retro".

 

[SDKath]

My suggestion (after looking at this for the last 6 months non-stop) is to buy a resale at WMH (if this is close to you location-wise and you like Palm Springs) for about $11,000. Use that for now. Then, if you still want WDW, go back to Starwood and buy the EOY and retro the WMH at the same time. It will be worth 148,100 SOs plus the 81,000 SOs from your EOY purchase. Then both will be in the SVN system and will have double SOs and lots of SPs.

When does your explorer package expire? Did you use it to stay there this time?

Katherine

 

[DeniseM]

Welcome to TUG - and definitely rescind!

No matter what the salesman told you, if you do your homework and then decide you still want this pkg. it will still be available next week, next month and next year....and resale forever....

BTW - unless you are going for 5 Star Elite, there is very little reason to retro a resale purchase.

 

[SDKath]

I beg to disagree. If you can do a retro, even if you are not going to be 5* elite, you will have the whole StarOptions internal trading available to you once you retro it. With units worth 148,100 SOs, that is a great deal. All of a sudden, even Harborside and St. John are an option! Those units are really hard to find with an II trade, even in the 3 day period. JMHO.

Katherine

 

[DeniseM]

I find exchanging very frustrating, so requalifying for Staroptions doesn't appeal to me (but that's just me.)

I think the best deal is to 1) buy where you want to go and 2) buy resale. Then you don't have to deal with exchanging unless you want to.

But, I have a very inflexible vacation schedule (have to travel during school holidays) and a limited budget, so your mileage may vary!

 

[vacationtime1]

You see some differences in the above advice and ideas, but there is unanimity in the advice to RESCIND and buy resale.

If you buy Desert Willow from the developer, you will pay $18,700 for an asset worth about $6,000 in the current resale market if you sell it (and eventually, you or your heirs will sell it). If you buy Kierland resale for about $22,000 - $23,000 or Mission Hills resale for $11,000 or so, you will get about $22,000 - $23,000 (or $11,000 or so) when you sell.

Plus, each of these resales is for annual use rather than alternate years.

 

[DavidnRobin]

Listen to the advice here (read the FAQs) - it represents the most unbiased opinion in SVO TSing from those who don't mind spending more for better quality/usage - and spending time sharing their knowledge with others.

 

[gmarine]

If you have any doubts at all, rescind. And if you had to finance it, then absolutely rescind immediately no question.Spending that much money and then regretting it isnt going to be fun. Rescind, then take your time and research a future potential purchase.

 

[sjacobs11]

We just took a tour this weekend and the first-day incentive was 250K SPG points. We didn't buy, but took the Explorer option, which provides for another 50K SPG points + 30K SPG points if we buy without re-visiting on a 4-night package.

Question is -- what is the value of these points? Seems like a good amount of SPG points to spend for $18K (eoy 2-br unit). These points wouldn't come with any re-sale unit.

Thoughts? We still have plenty of time to rescind...

Thanks!

 

[DeniseM]

I can give you some examples of value - right now a round trip flight to Hawaii will cost you about 30,000 Starpoints. Nicer hotels are 12,000 Starpoints a night and up. Recent posters have valued them at 2¢ per point.

Boys and girls - am I wrong, or is 330,000 Starpoints an unusual incentive for an EOY unit?

Interesting reflection on the state of Starwood sales...

 

[sjacobs11]

Hi,

It's high as you don't get access to the new property until 2010, so 2008/2009 are treated as points redemptions.

--Steve

 

[SDKath]

Do you have to pay MF for 2008 and 2009 to get that many points? I seem to recall someone else suggesting that they still charge you some $1500 for the 2 years you have no MFs.

Does anyone by any chance have a property map of the future resort? I am dying to see how many buildings there are what shape they will be layed out.

Katherine

 

[sjacobs11]

Hi,

You do have to pay for the 2008/2009 maintenance -- but no property taxes. I think it was just under $1200/year.

--Steve