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Broadway Plantation help please

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My father has two timeshares ah SBP and I am so confused about them. They are weeks 41R and 48R. Can some decphier this for me and tell me what they are please. I have the villa number as weel if that helps.

He wants to get rid of them as they don't have the resources to go anymore due to health etc. I am exploring purchasing them etc from him. But I would want to trade them to go somewhere else, as I don't really have a desire to go to Myrtle Beach.

Would someone be willing to help me please. Also do I need some more info from him to figure out if we can trade his weeks and for how much etc.

Thanks again. My friend recommended this site as it has been helpful to her!

Alice
 

DeniseM

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Welcome to TUG!

Do you know if your dad bought from the developer or if he bought it resale? If he bought from Starwood, or the previous developer, he may qualify to exchange within the Starwood system for other Starwood resorts.

These weeks can also be good traders with the Interval International Exchange Company because Starwood owners can access trades for other Starwood resorts 3 days before non-Starwood owners can. So you have the potential for access to some really nice resorts, but mostly off-season.

Here is a link to all the Starwood Resorts.

And here is a link to the Starwood FAQ at the top of the board, to get you started.

Once you find out if he bought from the developer and is part of the Starwood Vacation Network or not, we can provide more specific information.

I don't know what the R stands for but weeks 41 is around the 3rd week of October and week 48 is around the end of Nov. It would also be helpful for you to find out if those are fixed weeks (he owns and must use those weeks) or floating weeks (he can reserve different weeks if he wants to.) Also - what size are the units.

This is not a very good time to sell a timeshare. With the economy the way it is, resales values are very low. Here are some current resale prices from the resort - http://www.tugbbs.com/forums/showpost.php?p=504653&postcount=4

Your father may be disappointed to find out that it's only worth a fraction of what he paid for it, but that's the nature of the timeshare market.

Also do I need some more info from him to figure out if we can trade his weeks and for how much etc.

By this do you mean permanently trade his weeks for a timeshare elsewhere? That's very unlikely. However, yearly exchanges are easy and common and cost about $100 per exchange, depending on the exchange company you use. It would also be helpful for us to know where you'd like to go on vacation and what your goals would be if you bought these weeks from him. For you to use these weeks on a permanent basis and control the accts., your dad would have to add your name to the deed, or sell it to you and put the deed in your name outright. Otherwise, everything will have to continue to go through him.

Good luck!
 
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Thanks Denise. I know he bought them from the Developer. I shutter to think how much he paid for them. I want to say he has had them for 10 yrs. I will investigate these questions later today and get back to you.

Timeshares are very confusing to me so I appreciate the help.

He knows he will take a hit on the resale value. He just wants them gone bc they can't use them anymore.

As for trading or going somewhere I would love to go to Hawaii :)
 

tomandrobin

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Thanks Denise. I know he bought them from the Developer. I shutter to think how much he paid for them. I want to say he has had them for 10 yrs. I will investigate these questions later today and get back to you.

Timeshares are very confusing to me so I appreciate the help.

He knows he will take a hit on the resale value. He just wants them gone bc they can't use them anymore.

As for trading or going somewhere I would love to go to Hawaii :)

Your Dad is going to take a big hit on the resale market. If he truly wants them gone, list on e-bay with no reserve, starting bid $1.....they will sell.

As far as trading into Hawaii, SBP will be able to see Westin weeks in Hawaii when the weeks are deposited into II from Starwood. Since SBP is part of Starwood, you will have the 72 hour "Starwood" preference for Starwood deposits in II. You won't get Christmas/NYE weeks, more like shoulder seasons and less then 6 month out from travel deposits.
 

grgs

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Thanks Denise. I know he bought them from the Developer. I shutter to think how much he paid for them. I want to say he has had them for 10 yrs. I will investigate these questions later today and get back to you.

Timeshares are very confusing to me so I appreciate the help.

He knows he will take a hit on the resale value. He just wants them gone bc they can't use them anymore.

As for trading or going somewhere I would love to go to Hawaii :)

Please do read the FAQ that Denise mentioned above. Also, read this TUG advice article:

http://www.tug2.net/advice/Starwood_Vacation_Network.htm

The first order of business, as Denise said, is to find out whether or not the units are in Starwood Vacation Network (SVN), and if they are, how many Staroptions they are worth. It looks like one week (41) is Platinum season and the other (48) is Gold. You probably wouldn't get much for either, but the Platinum unit would be worth a bit more. Since he bought from the developer there is a good chance they are.

If they are in SVN, and you enjoy vacationing, and you are in a good financial position, and you're willing to take a little time to learn, I have an idea you and your father may want to consider:

How about if you take over the annual fees and usage for a year or two? That would provide your father with relief from the fees, and you would have a relatively low risk way to check out timesharing. If after a year or two, you decide it's not for you, you could always sell them at that point. I don't imagine the resale market will be much worse then, than it is now.

Even if the weeks are not in SVN, you still might want to consider this. By all accounts, Sheraton Broadway Plantation trades well if you secure a good reservation.

Just one last thought--if these units are in SVN, that will NOT transfer on resale. However, SVN membership does transfer if the units are gifted from parent to child. ;)

Glorian
 
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How about if you take over the annual fees and usage for a year or two? That would provide your father with relief from the fees, and you would have a relatively low risk way to check out timesharing. If after a year or two, you decide it's not for you, you could always sell them at that point. I don't imagine the resale market will be much worse then, than it is now.

Glorian

That is a good idea. I kinda of considered it myself but wasn't sure what the yearly fees etc are. The problem is the weeks that he has are bad for me.

I am trying to get a hold of him to ask him all these questions!

Thanks so much everyone..you all have been very nice. I read the FAQ and I think I am more confused till I find out if he is in SVN or not.

Alice
www.nannyadventures.com
 

vacationtime1

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Just one last thought--if these units are in SVN, that will NOT transfer on resale. However, SVN membership does transfer if the units are gifted from parent to child.

Which means that if these units are in SVN, they are potentially worth several times as much to you as they would be to any resale purchaser. Read the sticky bookmarked above; StarOptions are very cool. I am in escrow on an SBP resale purchase which I intend to use as a trader; I would have paid 3-4 times as much for this unit if the right to StarOptions would transfer to me and I could use it as an SVN trader instead. Here is the StarOptions chart:
http://www.tug2.net/advice/svn_valuechart.pdf
 
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Ok Just got off the phone with my dad. He doesn't remember when he got these but they were under Embassy so they are OLD :)

They are for the same unit 0433, which is a 2bdrm float

He was in RCI but isn't anymore? He never joined SVN bc of the money for it.

The R on his week means Red he said, not sure if that was with the old system or not.

The fees are $560 on each week for the year.

So wise friends :) what does this mean? Is he SOL on these? How could I exchange them for a different property? Is there someone there that I could and speak to about that, or are they all privacy protected and won't speak to me etc.

Thanks again!
 

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Ok Just got off the phone with my dad. He doesn't remember when he got these but they were under Embassy so they are OLD :)

They are for the same unit 0433, which is a 2bdrm float

He was in RCI but isn't anymore? He never joined SVN bc of the money for it.

The R on his week means Red he said, not sure if that was with the old system or not.

The fees are $560 on each week for the year.

So wise friends :) what does this mean? Is he SOL on these? How could I exchange them for a different property? Is there someone there that I could and speak to about that, or are they all privacy protected and won't speak to me etc.

Thanks again!

He's not in the Starwood Vacation Network, but he still might be able to join. It would be good thing to look into, but I wouldn't jump into it immediately.

Those MF's are very reasonable. For comparison, I pay about $1,600 for my Starwood 2 bdm. on Maui! 2 weeks of vacation for $560 x 2 = $1,120 - hard to beat that!

I would not join RCI again - I think it's more to your advantage to exchange with II (Interval International) because of the priority that Starwood has for other resorts.

So, this is what we know - he owns 2 weeks every year - 2bm. floating.
Right now it's not in the SVN, but he may be able to join for a fee.
It would be a good II exchanger and there are some advantages in using II.

You said you'd like to go to Hawaii - and you would have 2 weeks to use every year. From DC I'd definitely go for 2 weeks, because of the cost of airfare and the distance. BTW - airfare is really high right now - you will want to factor that in. I'm seeing around $1,000+ for RT for next July. Off season is usually cheaper - like early Fall.

Some questions about using these 2 weeks-

Did you look at the link to the other Starwood resorts? Did you see other resorts that looked interesting? You have quite a few choices on the East Coast + Harborside and Westin St. John, but WSJ is difficult to get into.

Can you take 2 weeks vacation every year?

Is the maintenance fee a problem for you ($1,120)?

Can you travel off-season?

Can you make definite plans 12 mos. in advance?

Is your father willing to deed the weeks over to you or add you to the deed?

What size unit do you need when you travel (how many in your family/party?)
 
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How do you go to II and not renew RCI?

I know he said last year he let Sheraton rent out his units for the two weeks. He hasn't done anything for this year. I won't be able to go this year that is for sure.

I looked briefly at the other resorts. Didn't dig in bc at that point there was no need if I couldn't do anything :)

I don't understand what "banking" means. Is that even allowed on his units?

I could easily pay him some money for his units and/or the maintance fees. He just doesn't have 1200 a year for them.

I am single and would take family or friends with me most likely if I traveled. So if I could figure out something for 2010 that would be awesome, as well as time to save :)

Oh he said he paid 10k and 12k for the units. Is that reasonable through the property?
 

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I think Denise did a good job of giving you some things to think about...it struck me that for someone not familiar to timesharing it still may seem a bit complicated. Here is what I think your main options are:

1) Sell the timeshares. You didn't mention what size units we are talking about, but assuming a standard 2 Bedroom, the Platinum (Week 41) will bring in about $2k on e-Bay. Gold (week 48) you'll be lucky to get $500 for on e-Bay. 2 Bedroom Lock-offs might bring in 25% more. Smaller units are much more difficult to sell.

2) Keep them and use them. While the timeshares are deeded to specific weeks that may be bad for you, you should be able to "float" them within their seasons. That means for the Platinum at 12months prior to your desired week you can book anything in weeks 7-43 and week 47. The Gold would be weeks 1, 7-8, 44-46, 48, and 51-52. The only thing I am unsure about is whether the old Embassy contracts automatically float, I think they do (Can someone out there speak to this).

3) Keep them and try to join SVN. I'm not sure they would allow it BUT if they did you can then exchange them into other resorts in the SVN at eight months out. There is a point chart in the "Owner Resources" sticky at the top of the Starwood forum here. It will show you the value of your unit (how many points it's worth) as well as the value of other units (which is how many points you will use to trade in).

4) Keep them and trade them through II. You can join II and use it to trade no matter what. With II you will have access to resorts all over the world. Most people report very good trades with the Sheraton Broadway Plantation platinum weeks (including many Hawaii resorts). You will also have a 3-day preference period for trading into other Sheraton and Westin resorts through II. This means only Sheraton and Westin owners have access to the units available for 72 hours...after they they become available to all other members of II. The key with II is being able to plan far ahead (so you can request trades earlier) and/or being flexible with dates/resorts. The Gold unit will still trade but will not get as good resorts (think Hawaii off-season or last minute).

You can do any combination of 2, 3 and 4 :)

I think the answers to some of Denise's questions will allow members to chime in as to which of the above 4 options we think is best for you.

Good luck!

C.
 
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vacationtime1

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If these are two bedroom non-lockout units, the maintenance is $680 each; your number is probably from one or two years ago.

Week 41 floats platinum; it is worth 67,100 StarOptions and if SVN lets you join (the cost would be $599 if they permit it), it would be a good deal for you.

Week 48 is less valuable all around; it will get you only 44,000 SO's for the same maintenance fee.

Ocdb8r's price estimates are very accurate.

Check this thread on how the units are fixed AND float: http://www.tugbbs.com/forums/showthread.php?t=71771

My suggestion is to play with them for a couple of years before making a decision. The cost of education is relatively low and the upside is substantial.

Best of luck.
 
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You all are great!

So is SVN or II better? I guess I don't understand what they are. Are they kinda of like frequent flier miles?

Sorry for sounding so dumb. I am learning and a fast learner, I just need a dictionary for everything :) Plus I don't have the orginial stuff in front of me so I am kinda of blind flying.
 

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How do you go to II and not renew RCI?

If he hasn't been paying the yearly RCI fee - he isn't a current member. To join II you just sign up and pay your money. But first you have to decide what your goals are - see the questions I posted above.

I know he said last year he let Sheraton rent out his units for the two weeks. He hasn't done anything for this year. I won't be able to go this year that is for sure.
They could be deposited with II for a future exchange - you would have 2 years.

I looked briefly at the other resorts. Didn't dig in bc at that point there was no need if I couldn't do anything :)

You definitely have options to exchange into those resorts, and others - but we need to know what your goals are to give you more help.

I don't understand what "banking" means. Is that even allowed on his units?
Banking is depositing your timeshare with an exchange company in order to exchange it. As explained above, you can definitely exchange with II and possibly with Starwood.

I could easily pay him some money for his units and/or the maintance fees. He just doesn't have 1200 a year for them.

For you to have control of these weeks, your name needs to be on the deed - otherwise everything will have to go through him.

I am single and would take family or friends with me most likely if I traveled. So if I could figure out something for 2010 that would be awesome, as well as time to save :)

OK - but what about 2008 and 2009? Take another look at the questions I posted above - those answers will help us help you.

Oh he said he paid 10k and 12k for the units. Is that reasonable through the property?

Sounds about right, but has no bearing on the current value.
 

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You all are great!

So is SVN or II better? I guess I don't understand what they are. Are they kinda of like frequent flier miles?

See the info. posted about II in the other posts above. They aren't like miles - you deposit one week of timeshare into II and they give you one week back - no miles or points involved. With SVN - you are just exchanging for other Starwood resort. You can belong to both - but it will cost you more money. To join the SVN it will probably cost you another $1,200.

Sorry for sounding so dumb. I am learning and a fast learner, I just need a dictionary for everything :) Plus I don't have the orginial stuff in front of me so I am kinda of blind flying.

There is a lot of info. to learn at first. As things become clearer, re-read the posts above and the FAQ - you will get more the 2nd time around.
 
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There was some talk about SVN waiving the $599 fee for joining if you previously bought from the developer. It looks like it may not include SBP, but you never know. Check out this thread:

http://tugbbs.com/forums/showthread.php?t=77772

You may want to give SVN a call and find out. Its a no brainer if you don't need to pay $599! Plus you get your II account for free if you join SVN.

Brad
 

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You all are great!

So is SVN or II better? I guess I don't understand what they are. Are they kinda of like frequent flier miles?

Sorry for sounding so dumb. I am learning and a fast learner, I just need a dictionary for everything :) Plus I don't have the orginial stuff in front of me so I am kinda of blind flying.

Not exactly....

II is simple (I think). You "deposit" or "bank" a week that you own and they then give you two years from the date of that week to trade for another "deposit" in their system. There are hundreds (thousands?) of resorts all over the world. They vary in quality but there are MANY very nice timeshares available. Bottom line it's a straight week for week exchange. Availability changes all the time as it is based on other people (and resorts) banking or depositing their weeks.

SVN is a bit more complex but can allow for more flexibility. Basically SVN values you week at different point levels depending on the size and season. With those points (which you can get every year when you call SVN to tell them you want them instead of a week) you can then trade into other SVN resorts. Similarly, the number of points required for an exchange depends on the size, season and resort you want to go to. As mentioned the point charts are available here, on this site.

The two just serve as different exchange options. You can probable read hundreds of posts here on the advantages of one system over the other...but at the core they just provided you with options to exchange your resort and week for another resort and week. Remeber, you can do both (if SVN lets you join which is a big IF).
 
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DeniseM

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You may want to give SVN a call and find out. Its a no brainer if you don't need to pay $599! Plus you get your II account for free if you join SVN.

Brad

Starwood will not talk to a non-owner. That is why she needs to either get her name on the deed or get on a 3-way call to Starwood with her Dad. That being said, I'm not sure I would join the SVN with these weeks. They may have more value with less expense as II traders.

This is what I would do:

1. Tell your dad you will pick up all expenses starting with 2008 and find out if he will add your name to the deed.

2. Call owner services (888) 986-9637, on a 3-way call with your dad (make sure dad has all info. at hand) and find out the process for adding your name to the deed.

If you decide to proceed, your dad will have to initiate adding your name to the deed.

You can ask about joining the SVN on this call, but be aware that you may not get a clear answer right away. If they aren't sure or say no, ask to speak to a supervisor.​

3. If you can't travel until 2010 you should decide what you are going to do with the 2008 and 2009 weeks.

If you don't think you will be able to use the 2008 weeks in 2009 or 2010 (as exchanges) you might as well let the resort rent them, as long as the rent is enough to cover the MF.

If you deposit the 2008 weeks and the 2009 weeks you will end up with a backlog of exchange weeks in II that you may not be able to use within the 2 year limit. In other words, by 2010 you would have 6 weeks to use or lose, if you deposit 2008 and 2009.​

4. Once your name is on the deed, you can open a II Acct. and deposit the 2009 weeks, if you think you can use them within 2 years.

That gives you time to decide if it is worth the extra money to you to join the SVN - if it's possible.​

And I'd still like to know these things: :)

Did you look at the link to the other Starwood resorts? Did you see other resorts that looked interesting? You have quite a few choices on the East Coast + Harborside and Westin St. John, but WSJ is difficult to get into.

Can you take 2 weeks vacation every year?

Is the yearly maintenance fee a problem for you ($1,120)? - Note that it will increase 5-10% per year.

Can you travel off-season?

Can you make definite plans 12 mos. in advance?
 
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And I'd still like to know these things: :)

Did you look at the link to the other Starwood resorts? Did you see other resorts that looked interesting? You have quite a few choices on the East Coast + Harborside and Westin St. John, but WSJ is difficult to get into.

Can you take 2 weeks vacation every year?

Is the yearly maintenance fee a problem for you ($1,120)? - Note that it will increase 5-10% per year.

Can you travel off-season?

Can you make definite plans 12 mos. in advance?

Sorry I answered these mentally....I guess you didn't read my mind when I was answering :doh: :(

Yes I looked at the site and saw some places. Like maybe a week in orlanda or the hawaii places. As well as Atlantis stuff.

I have 4 weeks of vacation a year so that is doable for 2, together or seperate depending on work. I am a nanny so I have some flexiblity.

I can make plans 12 mths in advance. I will just tell them I am taking off :D

I will talk further with my dad about things. and continue to look at the links again.

I did look at the II properties and loved how they had more worldwide properties. My brother lives in the Seattle area and things on his end of the world would be nice for a family vacation as well.

I might just do what was suggested and pay the 1200 for 2009 and figure it out. I will let my dad rent out the places for this year and get his money back for this year and deal with next year. That also would buy me time to learn the lingo and figure out things.

I am sure I will have more comments or questions.
 

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Note that the 2009 weeks can be deposited or reserved NOW and many if not most savvy timeshare owners already have their 2009 travel reservations made. To get the most out of your timeshare you need to plan and reserve a year in advance, so if you decide to take over these weeks from your dad, you want to do it ASAP, so you can access the 2009 weeks. The longer you wait, the less options you have. Most likely the 2009 MF isn't due until the 1st of the year, but your Dad will know that.

Good luck! Please let us know how it goes! :hi:
 
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My dad's wife is calling today or tomorrow to see about getting SVN, she just read about getting it free till Oct 1, 2008. So fingers crossed this might be doable for me.

So my next issue would be to figure out what to do for 2009 or bank till 2010 and go somewhere abroad or to hawaii. I think I will plan 3 trips :) so I have a,b and c options.

I proposed paying the SVN fees and MF for both weeks. He and his wife have to discuss it. I know he doesn't care, she might though.
 

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Good! Sounds like things are moving along.

If they do get the 2 weeks into the SVN, you want to make sure you inherit or are gifted the 2 weeks, because if you buy them, the SVN membership won't transfer. I think the easiest way to do it would be to have your dad add your name to the deed and have all further communication and MF statements sent to you. Then, you will automatically inherit the properties some day.

Before any permanent changes are made, you should really get on a 3-way call with Starwood and your dad, because these things can get complicated. Or have your dad ask for the info. in writing, before you make any decisions.

As far as your exchange plans - with 3 resorts in Hawaii now, that should be a fairly easy exchange through the SVN. Since the 2 weeks have a relatively low Staroption value, you may have to combine the Staroptions to have enough options for the exchange you want.

This is what another Tugger estimated that you will have for Staroptions:
Week 41 - 67,100 StarOptions
Week 48 - 44,000 SO's
Total - 111,100 Staroptions​

A studio at any of the Hawaii resorts is - 67,000 Staroptions
1 bdm. - 81,000 Staroptions
2 bdm. - 148,100 Staroptions

So you have enough Staroptions for 1 week in a studio or a 1 bdm., but not a 2 bdm. That wouldn't be my first choice. First of all, Hawaii is an expensive flight from DC and secondly, it's an all day flight - each way. So with a one week trip, you essentially have 5 days of vacation for lots of $$$. Going for 2 weeks gives you a lot more value for the cost of airfare.

From DC - you should strongly consider Harborside, Atlantis - shorter flight/cheaper airfare. Also, your Staroptions will stretch farther there. During some seasons you would have enough Staroptions for 2 weeks or a 2 bdm.

As an alternative, if you deposit the 2 weeks with II, you could get 2 weeks in Hawaii on an exchange - because with II you exchange a week for a week and you don't have to worry about Staroptions. - Just something to think about. For this to work, you would need to be flexible about when you go to Hawaii and what resorts you will accept. That's why I said that these 2 weeks may have more value with II exchanges, because they don't have a high Staroption value. So for the same MF cost (+ exchange fee) - you could go to Hawaii for 2 weeks through II, vs only one week through the SVN.

If by "abroad" you mean Europe - that will have to be done with II - because Starwood has no European Timeshares. Also, I don't think Europe is an easy exchange, but since you seem flexible, that helps.
 
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At this point he doesn't want to put me on the deed. Would he have to pay to retitle the deed do you all know?

They haven't set up anything yet for email etc for Starwood etc. so I will just do that with my email and so forth. I am sure I can also have the stuff mailed to me as it can be in their name but sent to my PO BOX here in VA.

They are discussing it so I will have more answers soon I am sure.

Thanks again!
 

DeniseM

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At this point he doesn't want to put me on the deed. Would he have to pay to retitle the deed do you all know?

They haven't set up anything yet for email etc for Starwood etc. so I will just do that with my email and so forth. I am sure I can also have the stuff mailed to me as it can be in their name but sent to my PO BOX here in VA.

They are discussing it so I will have more answers soon I am sure.

Thanks again!

There are really no emails from Starwood, except advertising. All reservations have to be made over the phone. And to have the best chance to get the reservation you want, they have to be made on a certain day at a certain time. It will be difficult to go through your dad for that.

Your dad will have to ask Starwood if there is a way to have you on the Acct. without being on the deed. Getting the most out of your timeshare requires a lot of hands-on management and having to go through a 3rd party for every little things is going to make it hard to take action in a timely manner.

Not being on the deed will make exchanging cumbersome as well.

You can try it out this way, but I think you will find it really inconvenient, especially if your dad doesn't want to deal with all the little details that come up.

Your dad should also ask Starwood about the procedure and cost to add you to the deed.
 
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pointsjunkie

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would he consider putting you and your brother(or other siblings) on the deed. so he is not leaving anyone out?

if you dad gets in the svn you will not be able to purchase the timeshares from him,(you will lose the right to be in the svn on a resale) you can pay the maintenance fees and he can put the reservations in your name or your brothers and then someday you will inherit the units and then you will be in the SVN.

he needs to be aware of that,so you and your brother don't lose out.
 
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