Brewster Green, MA: purchasing price help (and annual fee)

[SkierDude]

Hi. I've been in the market for a summer TS at Brewster Green. It seems to be one of the nicer TSs on the Cape. I need to find out if the price I'm being quoted is a decent price. I was told I can make an offer, but I don't know where to start. Also, how do I find out the rate at which the annual fees have increased over the years? My dad used to own a TS (wasn't deeded). Over the course of the 30 yrs, the annual fees went from 250/yr to nearly 700. (!). The fees at BG are 700 and I don't know when the last increase was. (If I join RCI that's an added cost and will stretch me a bit so I have to plan ahead.) I stayed at BG many years ago on a trade with my dad's TS and we liked it but haven't been back since. It gets great reviews on the 'net at here at TUG. Is it appropriate to ask if we can use the place for a day? Get a tour? Stay a weekend? If the price is nonnegotiable, are there incentives/extras I can ask about? Thanks.

 

[SkierDude]

Now that I think of it, I guess the value of a TS is also dependent on the buyer's desire. The BG weeks selling at resellers aren't the weeks I want (I've been looking on/off for a year or two) or the units don't have enough bedrooms. Even so, if I'm told to make an offer, what's a starting area? 20% lower than asking? 25%? Thanks.

 

[swditz]

If the weeks for sale aren't the weeks you want to be there, I would think twice about a purchase. The cape in the summer is very popular and a lot of owners own summer weeks because they use them. You may find the weeks you want are not always available. I would recommend you keep looking until you find what you want. As far as mf go I don't think $700 is high, you defiantly could rent out for cost and probably at a profit, if the weeks were prime.

 

[SkierDude]

It's definitely the week(s) I want. I'd prefer a 3BR unit, however would consider the 2BR that's available. I just don't know if $8K is considered reasonable.

 

[Beaglemom3]

It's definitely the week(s) I want. I'd prefer a 3BR unit, however would consider the 2BR that's available. I just don't know if $8K is considered reasonable.

Skier, may I ask what week you're looking for ? Thanks.

 

[Rent_Share]

Skier, may I ask what week you're looking for ? Thanks.

Not without the moderators deleting it as an ad

8K sounds high, especially if you need 3 and you would be settling for 2

Assume 6 % MF Increase Per Year. Allocate your purchase price over 10 years


1 700 800 1,500
2 742 800 1,542
3 787 800 1,587
4 834 800 1,634
5 884 800 1,684
6 937 800 1,737
7 993 800 1,793
8 1,053 800 1,853
9 1,116 800 1,916
10 1,183 800 1,983

If you can rent for at the current cost of owning, chances are rents won't increase at the rate maintenance fees are increased, the HOA's are not incentivized to control costs, since they just pass them through to the owners, the same % of increases timeshares experience in a standard condo development would create a revolution. Not to mention the HOA passes the cost of the non paying members to the paying members, rather than taking action to collect from the debtors

DO NOT ASSUME you can exchange into summer if you want to buy for summer coastal usage, you need to own summer coastal, if there are no seasons to the float booking be prepared to be on the phone or online when the reservation period opens up and cycle through the various weeks until you win the reservation lottery

I would have great difficulty investing 8 K in a resale timeshare

 

[SkierDude]

6% increase in MF per year?!? Geez! Maybe I'm naive, but that seems like a lot.

I'm not sure what you mean by "HOA", but I think I got the gist of your message. You're saying I should be aware of what a similar vacation would be on the Cape if I didn't own a TS, and to take that into consideration. I need to research a little more. We have a friend who owns a house and we've used it in the past, but it's not consistent. Homeaway shows cottages for 200/night, so that is cheaper right from the get-go. However, there's no "capital" or "equity" in that if I want to trade to skiing somewhere I don't have anything to trade. And ski condos would be way more expensive.

I should clarify that the seller is a BG employee or something, it's not someone off eBay or Redweek, etc. I don't know if that makes a difference. Also, I mis-quoted the price. She wants $7K for it.

Since it's a 2BR and not my ideal choice of 3BR, is it possible to "upgrade"? If I get a 2BR and a 3BR opens, can I pay the difference to get it or do I have to do the whole sell mine to buy that one (like houses).

Thanks.

 

[Beaglemom3]

Ski,
Thanks for the PM.
Did you find the week via IVS Realty ?

 

[SkierDude]

No, on line searching and "cold calling" to see if anything was available.

 

[swditz]

keep in mind BG is a small resort that is completely sold. you may want to go to the search feature and type in Brewster green. look at cape cod ts owners (4th down) and go to post 34. This refers to BG resale's. The prices are top dollar, but may give you an idea of what these units are listed for.

 

[Rent_Share]

6% increase in MF per year?!? Geez! Maybe I'm naive, but that seems like a lot.

Use 5, just don't assume it will have anything related to actual inflation. Your Dad's almost tripled in 30 years

I'm not sure what you mean by "HOA", but I think I got the gist of your message.

Home Owners Association - Mis-Management Company. Whatever their costs are they divide by the number of units X 52 and pass the costs on

However, there's no "capital" or "equity" in that if I want to trade to skiing somewhere I don't have anything to trade. And ski condos would be way more expensive.

Whoa !!! there is no equity in timeshare, with a few exceptions they are all on slide towards zero value, some as soon as they are sold. You can rent the ski week the same as you can rent the summer beach week. Ultimately your "investment" will be zero

Since it's a 2BR and not my ideal choice of 3BR, is it possible to "upgrade"? If I get a 2BR and a 3BR opens, can I pay the difference to get it or do I have to do the whole sell mine to buy that one (like houses).

You should defer to a B/G owner, but assuming you can trade up during a summer week , much less a summer beach week, is the type of stuff timeshare salesmen promise, without recourse and create the negative image the product has, since it is commonly sold based on lies

 

[uscav8r]

... My dad used to own a TS (wasn't deeded). Over the course of the 30 yrs, the annual fees went from 250/yr to nearly 700. (!).

6% increase in MF per year?!? Geez! Maybe I'm naive, but that seems like a lot.

Use 5, just don't assume it will have anything related to actual inflation. Your Dad's almost tripled in 30 years

An increase from $250 to $700 over the course of 30 years (which is a long time) works out to an average compounded increase of 3.5% per year, which is certainly well within reason. Remember, regular gas back in 1980 was around $0.65/gal but is now about 6 times that nationally (and over $4.20 in California!!).

David's 5% estimate moving forward is on the conservative side, and probably a good benchmark. Any rate increases less than that would be icing on your cake. It really depends on the resort/system, though. Take a look at the historical growth of the resort you are considering. While "past results are not indicative of future returns," it should allow you to make a more informed analysis.

 

[theo]

My $0.02 worth...

6% increase in MF per year?!? Geez! Maybe I'm naive, but that seems like a lot.

You're not naive, just inexperienced. The truth is that 6% is a realistic and not at all unreasonable projection for average annual maintenance fee increases.

I should clarify that the seller is a BG employee or something, it's not someone off eBay or Redweek, etc. I don't know if that makes a difference. Also, I mis-quoted the price. She wants $7K for it.

Sounds like "Michelle the BG realtor / resale rep" who made a (...very brief, at first attempted anonymously, but soon "outed") appearance here on TUG a short while ago. She has not posted here since, afaik. $7k for a prime summer week at BG is no bargain, but neither is it obscene. Remember, in this particular instance you are likely also paying for a realtor commission. The actual, underlying current owner will likely see only about $5,300 "net", which is frankly just about what I would personally be willing to pay for a summer week there (although I'm no longer interested in buying one there at all; no more timeshare purchases for us, which is no reflection on BG). YMMV.

Since it's a 2BR and not my ideal choice of 3BR, is it possible to "upgrade"? If I get a 2BR and a 3BR opens, can I pay the difference to get it...

No chance --- none. Anyone who owns a 3BR summer week at BG is either using it themselves or renting it out for big pesos, or (the least likely option, IMHO) depositing it with an exchange company for a future exchange elsewhere (such a week would certainly have excellent trade value). There would be no vacant, summer 3BR units on site (very few 3BR units there to begin with) in any imaginable scenario and therefore nothing for you to ever "swap" into then, regardless of being willing to pay to do so.

 

[theo]

Take a look at the historical growth of the resort you are considering. While "past results are not indicative of future returns," it should allow you to make a more informed analysis.

A good and valid observation. Brewster Green, the specific resort at issue, has been fully sold out for years now (i.e., all sales now are, by definition, resales).
Currently, and for quite some time now, it's been well managed by VRI. Maintenance fees are plenty but not crazy, increases reasonable.

A potential "wrinkle" at Brewster Green (purely from a maintenance standpoint) is the fact that there is a multitude of separate, individual (wooden) "townhouse" buildings. Although the BG property is not a "beachfront" location, those wooden buildings are still close enough to Cape Cod Bay to enjoy the "benefits" of year-round exposure to coastal Cape Cod weather and salt air (...having owned and lived year round on the lower Cape for some years, I remember those building maintenance "joys" quite well).

BG unit interiors could use some updating in the not too distant future. If / when those upgrades occurs, the tab must get handled somehow --- hopefully from adequate financial reserves already on hand and not by the imposition of dreaded, surprise "special assessments".

Personally, I think that BG is still by far the best timeshare facility to be found anywhere on the entirety of Cape Cod, despite not actually being situated on the beach.
I've seen most all of the other Cape timeshares at one time or another. Many (maybe most, including "beachfront" places) are frankly little more than converted motels.

 

[e.bram]

I paid $7000.00 for my 2 Br. at Surfside in Falmouth for a summer week and would buy another if I found one. But then the resort and the unit are both OCEANFRONT.(BG is not)

 

[medsed]

Maybe Ocean Edge would have a three bedroom available. I don't know much about pricing there but I would not settle for a two bedroom if I needed a three. I find cramped vacationing to be stressful and I prefer a relaxing week. Ocean Edge is also in Brewster. There are rentals, timeshares and owners there. My inlaws own, I have spent a great deal of time there and it is really a great place to vacation on the cape.

 

[Beaglemom3]

Maybe Ocean Edge would have a three bedroom available. I don't know much about pricing there but I would not settle for a two bedroom if I needed a three. I find cramped vacationing to be stressful and I prefer a relaxing week. Ocean Edge is also in Brewster. There are rentals, timeshares and owners there. My inlaws own, I have spent a great deal of time there and it is really a great place to vacation on the cape.

Being a long-time "Capie" (and Harwich cottage owner) I have to say that this is a brilliant suggestion, truly.

Ocean Edge is lovely and in the same town. Also, this will give Skidude some more time to think things over or find a better deal.

On VRBO (3 bds. in Brewster June20-27th - a few at Ocean Edge): http://www.vrbo.com/vacation-rental...20&to-date=2014-06-27&sort+by=Price/Ascending



http://www.vrbo.com/vacation-rental...20&to-date=2014-06-27&sort+by=Price/Ascending


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[Beaglemom3]

Eureka !

SkierDude,
I found something. Please PM me.
B.

 

[SMHarman]

We need a vacation is another good site to search.

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