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Canyon Villas- should we buy?

janet

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We need some expert advice. We are considering buying CV 2br (including a lockoff ), gold season, EOY for $11,460. With this we would get a total of 240thousand Marriott points. This can be exchanged for 75K points EOY. Is this a decent deal. Would this ts trade ok even tho it is gold season. We have one week to recind. Thanks for your help. Janet
 

DeniseM

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We need some expert advice. We are considering buying CV 2br (including a lockoff ), gold season, EOY for $11,460. With this we would get a total of 240thousand Marriott points. This can be exchanged for 75K points EOY. Is this a decent deal. Would this ts trade ok even tho it is gold season. We have one week to recind. Thanks for your help. Janet
Rescind - you can buy resale for MUCH less.
 

Dave M

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There are currently three Every-Year Gold CV weeks for sale on Redweek.com with asking prices of $9,900, $10,000 and $10,600, respectively. Since resale asking prices are almost always negotiable, often significantly so, you can probably pick one up for about $8,000.

Obviously, you won't get those 240K Marriott Rewards points if you buy a resale week. Most people value points at about a penny each, so you give up (initially) about $2,400 in value in exchange for getting a timeshare that you can use or exchange every year for a lower price than your current deal.

There are some scenarios, especially involving the use of Marriott Rewards air/hotel Travel Packages, under which a reasonable value ascribed to the points used for the package might be two cents or more per point.

What benefits do you lose if you buy resale instead of from Marriott? You lose the right to exchange the use of your week for points. That's probably not a big loss if the value of a point is a penny. You would pay about 1 1/4 cents per point to exchange the use of your week ($800+ in maintenance fees plus $104 transfer fee = $900+ total divided by 75,000 points). Further, if you really want more points, you can buy them from Marriott (up to 50,000 per year for you and another 50,000 for your spouse, all of which can be combined when you cash them in for a Reward). Still further, the value of those points is virtually certain to go down in future years. See post #23 in this thread for an explanation.

Otherwise, all of your benefits - resale versus Marriott - are the same.

So does it make sense to buy from Marriott? Many of us have done it. I have done it three times and I might do it again in the right circumstances. You'll have to determine what the value of those points is for you and what the value of an EOY versus EY week is to you. Only one vacation every two years with an EOY, but also only one maintenance fee every two years!
 

JimC

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Just to clarify -- if you buy EOY you pay one-half of the annual fees each year.

We bought EOY Canyon Villas from the developer but only because they paired it with an EEY at Shadow Ridge without any price penalty. We liked the ability to go to two favorite southwest resorts without having to trade to do it. That plus they initial MR points offered when we purchased was enough for us to buy developer.
 

thinze3

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Yes, you are correct. You pay half the annual fees every year.

I bought EOY odd in July at MLE and had to pay a little extra because I did not want to pair it with another resort. I was told I have 18 months to buy another EOY to be able to get the discount on that second purchase. In other words, my second EOY purchase would be only half the cost of an EY vs. 60% like the one I bought.

Also, note that Marriott Rewards points received from converting your timeshare into points cannot be used to stay at another Marriott timeshare.

Just to clarify -- if you buy EOY you pay one-half of the annual fees each year....
 
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pwrshift

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Going on memory from several years ago when I bought MCV plat EY for about $18000 they had a deal for less points to also buy a gold EY for another $5000 ... so technically, I guess that is what Marriott says they are worth. They had the price incentive as a trading week, not generally a 'use' week as plat in that resort is really what everyone wants.

If you can get $3000 worth of points at 0.0125 per MR point (the price on Marriott's site where you can buy up to 50k points a year) it kinda tells you the resale prices are about the same as direct when you value the points that way. That would seem to indicate it is a better deal to buy direct and at least have the trade for points benefit ... but it doesn't make it a better week for ownership and the MF are just a little less than plat. Plat weeks have sold on Ebay for about $15,000...don't know if they passed ROFR but probably as it is an active sales resort and the have plenty to sell still.

Brian
 

JimC

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...Also, note that Marriott Rewards points received from converting your timeshare into points cannot be used to stay at another Marriott timeshare.
For those who have timeshare reward points as well as other reward points: Marriott can see how many of each exist. The non-timeshare points can be used at MVCI properties.
 

thinze3

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That is correct.
Here's the breakdown:

Reward..................................Points
3 nights in a deluxe guest room 50,000
4 nights in a deluxe guest room 65,000
5 nights in a deluxe guest room 75,000
6 nights in a deluxe guest room 90,000
7 nights in a deluxe guest room 100,000

3 nights in a 1 bedroom villa 75,000
4 nights in a 1 bedroom villa 90,000
5 nights in a 1 bedroom villa 100,000
6 nights in a 1 bedroom villa 115,000
7 nights in a 1 bedroom villa 125,000

3 nights in a 2 bedroom villa 100,000
4 nights in a 2 bedroom villa 115,000
5 nights in a 2 bedroom villa 125,000
6 nights in a 2 bedroom villa 140,000
7 nights in a 2 bedroom villa 150,000


For those who have timeshare reward points as well as other reward points: Marriott can see how many of each exist. The non-timeshare points can be used at MVCI properties.
 

cp73

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We are considering buying CV 2br (including a lockoff ), gold season, EOY for $11,460. With this we would get a total of 240thousand Marriott points. This can be exchanged for 75K points EOY. Is this a decent deal. Would this ts trade ok even tho it is gold season. We have one week to recind. Thanks for your help. Janet
Janet,
If you would like to spend less money take your time and purchase resale.
Marriott always seem to do a good job in confusing people with the points thing. In my opinion the points always seem to be smoke and mirrors and confuse your buying decisions. You probably new nothing about points when you went to the presentation. Now your trying to evaluate the worth of the point system. 75,000 points is not enough to do much with. Maybe stay in a Courtyard for a week, but no JW resorts. They are not giving you anything with the points, you are paying for them.

As far as trading power it pretty much depends on how flexible you are in your time. Dont expect to trade into another resort in peak period. But you still should be able to trade into most resorts at some lower demand period during the year. With lots of flexability in your time schedule and short notice you can pretty much trade anywhere. Keep reading on this board you can find lots of info and stories on trading. Most people here will agree you should buy at the resort that you want to go to the most and have easy access to.
 

m61376

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Janet-
You've already been given the best advice by others. RESCIND NOW and ponder your decision later....

As Dave said, the only difference between buying resale and from Marriott directly is the ability to trade for points (and of course the upfront incentive points). While I personally feel the price difference does not warrant buying directly, it is, of course, an individual decision. However, whether or not you ultimately decide to buy direct or resale, take the time to learn about the pricing/benefits of each and evaluate the information for yourself; don't rush to make a decision. If you ultimately decide to buy direct, you'll be able to do it next week or next month. For now, read a little more here, ask questions and explore your options. You can always buy later, but can only rescind now.

If you decide to rescing, follow the directions carefully and mail out your letter within the stated timeframe; mail it certified/return receipt.

Good luck, and welcome to TUG :wave:

oh- one more thing that wasn't mentioned- did you decide to buy Gold season because that's when you'd like to visit? If you buy where you'd like to go and when you'd like to visit you're more likely to be happy with your purchase. Of course, you can always trade, but trades are never guaranteed.
 
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janet

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Thank you for your advice.

Thank you everybody. We walked away from this one. The deciding factor was realizing that we could only convert to points every fourth year when buying a EOY unit. That wouldn't give us much to work with. We will wait for a better deal. I'm sure there are many available. Thanks for educating me. Janet
 
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