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Coronado Beach Resort

DayTraveler

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We own Coronado Beach Resort #2885 Aug 6-13 Unit 20132 a deeded studio - 2 person unit that is every other year. We have decided to sell. Would anyone have any ideas of what a fair price would be?
 

Synergy

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We own Coronado Beach Resort #2885 Aug 6-13 Unit 20132 a deeded studio - 2 person unit that is every other year. We have decided to sell. Would anyone have any ideas of what a fair price would be?

The only completed sale I see for that resort was for a 1/1, also biennial, and it sold for $260 with free closing. Since that's about half what the resort transfer fee appears to be... I'd probably attempt to list it for $0 with buyer paying all sale/transfer costs, and then incentivize as needed to get rid of it. I'm sorry that's unlikely to be what you want to hear.

It's possible it's worth a little more than $0 if the maintenance fees for a studio are significantly lower than the 1/1, and/or if the unit is a particularly good trader. I still don't think sale price is much of a consideration for this one =(
 

presley

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Being a fixed summer week is good, but being a studio and every other year makes it not as good. I'd probably put it in the marketplace for $500. and take whatever I was offered. If you are in a hurry, list it for free in the Marketplace and in the Bargain Deals forum.
 

klpca

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You may also want to contact the resort to see if they handle any resales. I think that they have an on site agent but I'm not sure if they are only selling foreclosed units or brokering owner sales as well. That is a prime week (time wise - no better time to be in Coronado) and there may be more value than what you think.
 

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The only completed sale I see for that resort was for a 1/1, also biennial, and it sold for $260 with free closing. Since that's about half what the resort transfer fee appears to be... I'd probably attempt to list it for $0 with buyer paying all sale/transfer costs, and then incentivize as needed to get rid of it. I'm sorry that's unlikely to be what you want to hear.

It's possible it's worth a little more than $0 if the maintenance fees for a studio are significantly lower than the 1/1, and/or if the unit is a particularly good trader. I still don't think sale price is much of a consideration for this one =(
Thank you.
 

DayTraveler

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Being a fixed summer week is good, but being a studio and every other year makes it not as good. I'd probably put it in the marketplace for $500. and take whatever I was offered. If you are in a hurry, list it for free in the Marketplace and in the Bargain Deals forum.
Thank you.
 

DayTraveler

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My in-laws left it to my wife and her two brothers - in the family trust. Both brothers did not want it so the trustee (one brother) deducted 3K from my wife's share and we had to pay around $400 to have the deed changed. Each year we pay about $600 for maintenance fees. And each year we pay around $60 in property taxes. We have never stayed at Coronado. We have always banked our week and completed exchanges in CA: Carlsbad SeaPointe Resort and Grand Pacific Palisades. Exchange fees are around $289 and then upgrade fees to one bedroom. And then resort fees. Not so sure we have been making wise decisions. This year we banked our week for 2 week credit. All said and done we got two weeks at Kauai for around 2k. Not a bad deal but nothing to brag about. Obviously my wife's brother didn't give us a fair deal but that was how the whole trust went. I'm not ready to give it away. GPX did raise their exchange fees too. I think the only way to even get a decent deal is to bank it and get the two credits. Even then they get you on the exchange fees, upgrade fees and resort fees. Just about 2k to use two weeks in a one bedroom but honestly that isn't a terrible rate just nothing to feel great about.
 

Luanne

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Before you decide to sell you might want to go down and stay there. We love the place. We stayed in a studio the last time we were there and although it was small it worked for the two of us.
 

DayTraveler

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Before you decide to sell you might want to go down and stay there. We love the place. We stayed in a studio the last time we were there and although it was small it worked for the two of us.
Well we have two kids 7 & 12 and they argue a bit even in a 2400 sq ft home. Ha. Ha. Seriously though. I mean yeah just me and mom but we never get that. Her folks loved going too especially since it was in August. Thank you.
 

Luanne

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Well we have two kids 7 & 12 and they argue a bit even in a 2400 sq ft home. Ha. Ha. Seriously though. I mean yeah just me and mom but we never get that. Her folks loved going too especially since it was in August. Thank you.
Oh I understand that. And those studios really only do sleep two. No fold out sofa (no room for one) and the couch isn't big enough for even one person. It's just such a great location.
 

klpca

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My in-laws left it to my wife and her two brothers - in the family trust. Both brothers did not want it so the trustee (one brother) deducted 3K from my wife's share and we had to pay around $400 to have the deed changed. Each year we pay about $600 for maintenance fees. And each year we pay around $60 in property taxes. We have never stayed at Coronado. We have always banked our week and completed exchanges in CA: Carlsbad SeaPointe Resort and Grand Pacific Palisades. Exchange fees are around $289 and then upgrade fees to one bedroom. And then resort fees. Not so sure we have been making wise decisions. This year we banked our week for 2 week credit. All said and done we got two weeks at Kauai for around 2k. Not a bad deal but nothing to brag about. Obviously my wife's brother didn't give us a fair deal but that was how the whole trust went. I'm not ready to give it away. GPX did raise their exchange fees too. I think the only way to even get a decent deal is to bank it and get the two credits. Even then they get you on the exchange fees, upgrade fees and resort fees. Just about 2k to use two weeks in a one bedroom but honestly that isn't a terrible rate just nothing to feel great about.
How did you get two credits?

Btw if you exchange back in to Coronado you don't have to pay the resort fees. Coronado would be awesome for your kids.
 

chapjim

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My first ship was stationed at NAS North Island and I remember the building that is now the Coronado Beach Resort. I don't remember what is was called back then. That was in 1968.
 

presley

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Have you looked at exchanging it through other exchange companies? You might consider looking at SFX. I think it would be considered high demand for them. There are still exchange fees, but you can exchange to a lot of other places that won't have the resort fee if you feel like you will still be taking one week vacations. For example, I just paid $149. to exchange to a one bedroom new hotel in Anaheim. No additional fees.

I cannot remember if Coronado Beach Resort trades in RCI or II, but that week would be considered high demand in either of those. You'd have to pay a yearly membership fee and the exchange fee. You'd have access to a lot of locations and many of those won't have a resort fee.

It sounds like you aren't in any type of hurry, so you can list with their resale department. Call member services and ask about it. I cannot remember what it's called, but they have another company that resells some of their properties and I believe that Coronado is one of them. They list at ridiculously high prices, but people who want to buy there and have never heard of Tug and don't understand the resale market will probably buy from them. When I wanted to purchased Villa L'auberge, they had some for sale and I think the cheapest one was around $7K. I found the exact unit that I wanted on Ebay for $53. and bought it on Ebay instead. That's just to give you an example of how high they list their resales. I also never saw any units sell from them, but if you aren't in a hurry it might work out for you to keep exchanging your week while you wait for it to sell through them.

Another option is to rent it out. If you rent it out yourself (don't use GPX rental service), you should be able to cover your costs and make a few hundred bucks on top of it.
 
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DayTraveler

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How did you get two credits?

Btw if you exchange back in to Coronado you don't have to pay the resort fees. Coronado would be awesome for your kids.

Well maybe we will just have to try it next summer. GPX was runninng a promotion if we deposited our week at a certain time we got a double credit.
 

DayTraveler

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My first ship was stationed at NAS North Island and I remember the building that is now the Coronado Beach Resort. I don't remember what is was called back then. That was in 1968.

My father in-law that passed Coronado onto us was stationed in the Navy too. They moved to San Diego about 45 years ago.
 

5finny

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Just my opinion but highest and best use is using it yourself.
That does not work well because of the kids
I think you did well with the Hawaii trade (even with the expenses)
It is possible you have already pretty well figured out the system and are maximizing your value
It looks to me like RCI would give you 37 TPU for a deposit
That is OK but given location and season I would have thought more
 

DayTraveler

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You may also want to contact the resort to see if they handle any resales. I think that they have an on site agent but I'm not sure if they are only selling foreclosed units or brokering owner sales as well. That is a prime week (time wise - no better time to be in Coronado) and there may be more value than what you think.

Yes I have been told it is prime time. I think once I asked GPX and they sent me to someone and boy the fees were steep. I do really like GPX they just got me two night using Resor Time to fill in the two day gap we had in Kauai next Christmas. It wasn't cheap but it was for 12/25 & 12/26 so that is a very busy time. They put us in the Makai Club Resort so now we have 9 days there and 7 days at the Hanalei Bay Resort. $540 for the added two nights. I think what I like about GPX is that they seem to really have their act together and their customer service is amazing.
 

DayTraveler

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Just my opinion but highest and best use is using it yourself.
That does not work well because of the kids
I think you did well with the Hawaii trade (even with the expenses)
It is possible you have already pretty well figured out the system and are maximizing your value
It looks to me like RCI would give you 37 TPU for a deposit
That is OK but given location and season I would have thought more
Thank you for this feedback. I am trying hard to make it work for us. I have not been able to make anything work with RCI I think that is my area of weakness. I need to learn how to utilize that program.
 

DayTraveler

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Have you looked at exchanging it through other exchange companies? You might consider looking at SFX. I think it would be considered high demand for them. There are still exchange fees, but you can exchange to a lot of other places that won't have the resort fee if you feel like you will still be taking one week vacations. For example, I just paid $149. to exchange to a one bedroom new hotel in Anaheim. No additional fees.

I cannot remember if Coronado Beach Resort trades in RCI or II, but that week would be considered high demand in either of those. You'd have to pay a yearly membership fee and the exchange fee. You'd have access to a lot of locations and many of those won't have a resort fee.

It sounds like you aren't in any type of hurry, so you can list with their resale department. Call member services and ask about it. I cannot remember what it's called, but they have another company that resells some of their properties and I believe that Coronado is one of them. They list at ridiculously high prices, but people who want to buy there and have never heard of Tug and don't understand the resale market will probably buy from them. When I wanted to purchased Villa L'auberge, they had some for sale and I think the cheapest one was around $7K. I found the exact unit that I wanted on Ebay for $53. and bought it on Ebay instead. That's just to give you an example of how high they list their resales. I also never saw any units sell from them, but if you aren't in a hurry it might work out for you to keep exchanging your week while you wait for it to sell through them.

Another option is to rent it out. If you rent it out yourself (don't use GPX rental service), you should be able to cover your costs and make a few hundred bucks on top of it.
Excellent information thank you very much this gives me some good ideas for sure.
 

DayTraveler

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I am new to this site. Been here before but not much forum use. Am I responding in the correct place? I am trying to add my comment in same response box to keep it clean. In some cases it seems to work but not others. Seems like hitting the reply button should be the only way to make that happen.
 

GTLINZ

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Thank you for this feedback. I am trying hard to make it work for us. I have not been able to make anything work with RCI I think that is my area of weakness. I need to learn how to utilize that program.

I have been a member of both RCI and Interval and IMHO RCI does not as much good inventory as Interval. I have also traded with SFX and they generally do not care about getting studios - and they don't always have the inventory the big boys do. I would think your internal access to GPX and ability to upgrade is a big advantage if you live in Cali and/or also like to go to Hawaii. Never take for granted reasonable prices in Hawaii or Cali !

I have been to CBR and stayed in a studio (bonus SFX week in May, missed the "may gray") and we loved the location and the friendly staff (and the resident bird). It had a murphy bed - I don't remember if it had a sleeper sofa also but it would be tight if it has both. But Aug is a great week - when it is about as warm as it will get unless the desert winds blow in. We had to go to the Lowe's about 3-4 miles away for the gym and pool but it was very nice. That was a great stay. The mexican restaurant a few blocks away was really good too.

$1200 total (across 2 years for one usage) is a high MF for a studio. I would think someone would want it for GPX access - or you may just want to keep on doing what you are. You still have figured out a way to save money and it sounds like you are getting 2 trips out of each MF. It sounds pretty clever to me.
 

klpca

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I am new to this site. Been here before but not much forum use. Am I responding in the correct place? I am trying to add my comment in same response box to keep it clean. In some cases it seems to work but not others. Seems like hitting the reply button should be the only way to make that happen.
When you choose "reply" just put your response after the second
for ease of reading.

To clarify, did GPX give you two credits for your deposit, or did you use two weeks to get two credits? I also have a high summer week (Seapointe wk 32) and I am trying to figure out if they would give an extra exchange credit if I deposit my summer week. Thanks.
 

Luanne

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I have been to CBR and stayed in a studio (bonus SFX week in May, missed the "may gray") and we loved the location and the friendly staff (and the resident bird). It had a murphy bed - I don't remember if it had a sleeper sofa also but it would be tight if it has both.
The studio dh and I stayed in which the guy at the desk who checked us in said was their "best" one (location on third floor meant we had no one above us, and a very high ceiling) had just the murphy bed. There was a small sofa, no sleeper sofa. Would have been no room to fold one out. The description for the studio said "sleeps 2" and they were right.
 

davidvel

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When you choose "reply" just put your response after the second
You got trapped by using the HTML in you response!

What klpca was trying to say is hit REPLY, then make sure you are after all of the text, including the last bracket, before you start typing. Otherwise, your response ends up inside the quote of the poster you are replying to.
 
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