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CAPE COD HOLIDAY ESTATES - Special Assessment

Corky

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Just received the bombshell news about CCHE's Special Assessment. Wonder how owners feel about this and how they plan to pay.

Because of the economic climate, the assessment was put off last year. It seems extraordinarily high or am I wrong?

Thoughts?
 

Corky

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Lump sum of $1900 per interval plus annual MF.

Or, pay in 5 annual installments totalling $2100 plus annual MF.
 

wackymother

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Ouch! Sorry to hear about this.
 

Corky

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I'm afraid this assessment will cause previously faithful owners to bail which, in turn, will result in more delinquent fees for the resort. These are tough times for timeshares that haven't kept maintenance up to date with a reserve fund.
 

pcgirl54

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Wow is right. That's terrible to have postponed something that could have been 3 yrs of minor charges and now impact people with a jumbo hit.

Stopped by last summer to see a refurbed home. I was also surprised they do not have internet access with the exception of the clubhouse.
 

Corky

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Where are all the CCHE owners?????

Haven't received any reaction to this assessment. Makes me wonder if any of them belong to TUG.
 

JACKJMP

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Cche Sa Way To High

Does anybody know what will happen if you walk away and how to do it?
 

JACKJMP

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Cche can no longer exchange for rci points.

Why can we no longer exchange our units for RCI points? That started about two years ago and now this SA of $2795.00. What is the BOD doing?:mad:
 

susette

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I am a a CCHE unit owner, and I am not going to pay this SA right now. I'm calling an attorney and the Better Business Bureau first. This Board has some explaining to do!

Sue
 
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JACKJMP

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Cape Cod Holiday Estates Sa And Points

Why can we no longer exchange our units for RCI points? That started about two years ago and now this SA of $2795.00. What is the BOD doing?We have a 3BR unit that we used for points (was 77000 points) now a weeks exchange. To exchange a 3BR for just me and my wife does not work out very good for me and it works out very well for CCHE and RCI. In the weeks program i can not get anything good for a 3BR but I can with Points. thanks:rofl:
 

palmtree7339

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CCHE Special Assessment

CCHE owners concerned re: the recent Special Assessment should advise the Resort's BOD members, by email, as to their opinions and comments involving the needed renovations of the 32 individual homes on the property.

The BOD members will meet on Thursday, Dec. 3rd, 10:00AM, at CCHE, in order to further discuss the Renovation Program, and to consider
modifications to the Special Assessment.

BOD meetings are open to all CCHE owners, although owners wishing to express opinions or comments to the Bd. may need to be recognized by the Bd. to do so.

Hope this helps all concerned CCHE owners.
 

Shiz

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Hopefully the board listens to all the owners, cancels the special assessment, and starts printing money at the resort to pay for it.

Those houses are falling apart. The board has for years been too passive about fees, most likely because most of the members own 3-4 weeks themselves. You can see the result now. This special assessment shouldn't too much of a surprise seeing that it was openly discussed at the annual owners meeting in May, 2008.

The point I'm making is that people expect dirt low maintenance fees but expect all the modern amenities. You can't have both. There is a reason why most timeshares are in condo-style units - the individual home setup is an absolute nightmare on maintenance and upkeep. (and from experience, those units take a beating!)

CCHE is an absolute gem, but it has come to the point where it needs a comprehensive project like this. As the original owners start to move on, both literally and figuratively, there has to be a way to draw new blood to buying there. Otherwise your owner base will decrease, and then your fees will go up anyway. It's a problem almost all timeshares now are facing, not just Holiday Estates.

Just my 2c from afar.

And FYI, BOD meetings are never open to the public unless previously arranged and agreed upon. Unless that meeting has specifically been arranged for owners to meet with the board, you'll be denied entry.
 

Shiz

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Why can we no longer exchange our units for RCI points? That started about two years ago and now this SA of $2795.00. What is the BOD doing?We have a 3BR unit that we used for points (was 77000 points) now a weeks exchange. To exchange a 3BR for just me and my wife does not work out very good for me and it works out very well for CCHE and RCI. In the weeks program i can not get anything good for a 3BR but I can with Points. thanks:rofl:

Might be worth checking with RCI on. I think that when RCI Points first came to CCHE, they would accept your fixed week if you already were a points member at another resort. They might have decided to force the conversion fee though. Wouldn't be surprising the way RCI operates.
 

timeos2

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specifically been arranged for owners to meet with the board, you'll be denied entry.

What? Where are people coming up with this nonsense? Board meeting are open forums and every owner can attend - no "permission" needed. You may not get to speak unless they let you but you can sure watch.
 

Shiz

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What? Where are people coming up with this nonsense? Board meeting are open forums and every owner can attend - no "permission" needed. You may not get to speak unless they let you but you can sure watch.

I posted this in another thread, but wanted to clarify as I've gotten some more info.

As I stated before, it is in the best interests of both the owners and board to notify the office staff if you plan on observing the meeting this Thursday. This is most likely due to the fact where they actually meet isn't a large room and a large amount of owners attending might cause issues with space.

That being said, another thing worth mentioning is that I was also told the S/A would have payment plans available, some extending up to 5 years. That's almost unheard of.
 

e.bram

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Now is the time to cut bait. Use the SA and MF to buy an oceanfront TS and let CCHE go belly up. It probably will anyway if many of the dog weeks(most is seasonal Cape Cod) don't ante up.
 

Shiz

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Now is the time to cut bait. Use the SA and MF to buy an oceanfront TS and let CCHE go belly up. It probably will anyway if many of the dog weeks(most is seasonal Cape Cod) don't ante up.

You really do sound like you sell for InnSeason. Am I close or are you just that delusional?

Why, would someone who had problems with the S/A at CCHE go and spend that money on a unit that is half the size in a shared condo building? Most owners at Cape Cod Holiday purchased there because of the privacy and vast space that the houses offer.

VRI isn't new to this game, they have a solid business model and would not advise the BOD to undertake such a project if there was a risk it would put them under.
 

timeos2

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Be proactive. Speak to those who decide. Take part.

Now is the time to cut bait. Use the SA and MF to buy an oceanfront TS and let CCHE go belly up. It probably will anyway if many of the dog weeks(most is seasonal Cape Cod) don't ante up.

I hope that anyone thinking of blindly following this bit of questionable advice has followed the history of other posts. While everyone here is more than welcome to a viewpoint - negative as my Wastegate / DVC may be or as positive as I can be about other resorts - when you read a specific post try to put it in context. In this case it appears we have a former timeshare believer who got badly burned and now has turned on the concept as a whole. Not that hard to do either as about 75% of timeshare operation/sales seems to be a negative experience that is often tipped against the owners. But if you do your homework, buy resale, buy what you like - get it into the proper weeks or points system it can yield a tremendous value in top quality vacations in far better than small hotel rooms. Make your ownership part of that 25% we all have come to love.

While I fully understand the view that its all a scam, it will cost you plenty, it is best to "walk away" and leave the mess you helped buy into to others I don't think things are actually that bad. Again, be careful and participate wisely and nearly any resort can return a great value. It certainly won't if you choose to walk away, fail to support the resort and your fellow owners and the volunteer Board. Take part, offer options and be responsible is the best way to be a timeshare owner. Volunteer to be on the Board. It's up to you how things turn out. Sell it or give it away if you don't like being a part of that resort anymore.
 

e.bram

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If everybody(how many units are HOA owned)antes up, the money spent there will be units up for sale on Ebay and other resales sites for a dollar with 0 bids. Then the Hoa will bring in a points converter so soak more dough fromthe hapless remaining owners.
Been there, done that with Oceancliff(Newport, RI)and now they are trying to convert us to RCI points(special price $1500.00) after a $2200.00 SA. Should have bailed along time ago. If they had put the SA before I paid the MFs I would have. Owners, BAIL while you have the chance to save both the MFs and SA.
I bet most of the BOD has weeks 25 through 33. For those owners it might be worth a shot. For the rest, no way.
 

Vaca720

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Now is the time to cut bait. Use the SA and MF to buy an oceanfront TS and let CCHE go belly up. It probably will anyway if many of the dog weeks(most is seasonal Cape Cod) don't ante up.

I must speak up here and say I take offense to this "advice". People come here because they care about their resort(s), are involved in it's going on's and are responsible timeshare owners. Cutting bait, as you so eloquently put it, is certainly not going to help answer questions or give any direction. To wish CCHE goes "belly up" is disgraceful! There are years and years of family memories wrapped up in CCHE and it deserves to thrive and carry on for many more.

I'm surprised to see you listed as an Oceancliff owner and have this type of response. I've stayed there a number of times and know they went thru a major renovation which of course had to be special assessed. It was a couple years ago but do recall owners saying it was around $2000. I was amazed at the difference, beautiful!

A special assessment is a necessary evil in timeshare. Eventually the units will need to be renovated and the portion taken out of an annual maintenance fee for capitol improvements just won't cover it. Timeshares have laws and they can't garner a profit like businesses. Money taken in from maintenance fees are used to keep resorts running and there are alot of expenses! The capitol improvement/reserve fund IS set up for upgrades but that doesn't necessarily mean pretty furniture. It can be kitchen appliances, furnaces, a/c units, industrial washer/dryers, lumber, mattresses, tennis court repair, etc, etc.

But of course address/question the bod if you have issues or concerns with a special assessment. Timeshares can only be if there are happy, satisfied owners!
 

e.bram

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Vaca720:
Yeah beautiful, but you didn't have to pay for it. If I would have bailed , I could buy the same TS for $1.00 and would be enjoying it even more not having paid the $2200.00.
 
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