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Could this downturn lead to smokin deals on High End Platinum timeshares?

Fredflintstone

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Yes, I know it’s easy to get a free timeshare that may even come with a Visa Cash Card and free closing....

But how about those Disney, Hilton Platinum, and other very prime timeshares?

With Corona Virus and economic stress, do you think it will be prime time to buy prime contracts over the near term? Maybe, prime timeshares that currently still resell at 5 k can be snapped up for a buck real soon?

What are your thoughts? Are you planning to add to your TS portfolio if premium deals come along dirt cheap?


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Panina

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Yes, I know it’s easy to get a free timeshare that may even come with a Visa Cash Card and free closing....

But how about those Disney, Hilton Platinum, and other very prime timeshares?

With Corona Virus and economic stress, do you think it will be prime time to buy prime contracts over the near term? Maybe, prime timeshares that currently still resell at 5 k can be snapped up for a buck real soon?

What are your thoughts? Are you planning to add to your TS portfolio if premium deals come along dirt cheap?


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I thinks platinum timeshares will be grabbed with rofr if they were offered low enough, especially a buck.
 

TravelTime

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I think if the economy goes into a depression, then you will be able to get premium timeshares for a deal. But maybe not as low as you think. I am selling 3 Disney contracts at asking price or close to asking price. I was surprised anyone is buying. I am trying to downsize my timeshare portfolio and I am slightly more negotiable than I was before but not a lot more. I also sold two contracts back to Marriott for decent prices. I am more inclined to sell back to the developer if needed (since it is easy) than I would be to sell resale.
 

Fredflintstone

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I thinks platinum timeshares will be grabbed with rofr if they were offered low enough, especially a buck.

Good point. ROFR can be a good thing in a way because it kinda puts a ground on pricing. It’s bad in that resorts can pluck prime spots and then resell later for a bundle.


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Fredflintstone

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I think if the economy goes into a depression, then you will be able to get premium timeshares for a deal. But maybe not as low as you think. I am selling 3 Disney contracts at asking price or close to asking price. I was surprised anyone is buying. I am trying to downsize my timeshare portfolio and I am slightly more negotiable than I was before but not a lot more. I also sold two contracts back to Marriott for decent prices. I am more inclined to sell back to the developer if needed since it is easy than I would be to sell resale.

I suppose deed back programs would also scoop up prime times and they actually get some money out of it to boot.

Hmmmm. I wonder if the economy got really bad and the developer received contracts for either dirt cheap or through deed back if they bill other owners for the lost MF? I am not sure how that works? Does anyone know if the developer/resort pay MF on contracts they acquired?


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Ski-Dad

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I thinks platinum timeshares will be grabbed with rofr if they were offered low enough, especially a buck.
Panina: You may very well be right, but I am thinking MVC, Hilton and Disney are in cash preservation mode at the moment. The vast majority of businesses are. Grocery chains aren't worried.
 

ski_sierra

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I think there will be great deals. Any kind of uncertainty gives a pause to buyers.

But I own enough and don't have vacation time for more TS. I already have some excess deposits and points due to cancellations.

@Fredflintstone : are you planning to become an owner if a good opportunity comes up? How do you define a good opportunity?
 

Ski-Dad

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I will be keeping an eye out for a Platinum MVC GV or GC. Ideally a Grande Vista Florida Club.

Our 2008 financial crisis was 2008 and I remember fuel prices went through the roof at the same time as the market collapsed. A montth later, I bought/stole a Toyota Seqoia SUV ( 8cylinder/8 passenger). Nobody was spending any money on cars let alone a large gas guzzlers.

I think that now applies to many things.
 

Fredflintstone

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I think there will be great deals. Any kind of uncertainty gives a pause to buyers.

But I own enough and don't have vacation time for more TS. I already have some excess deposits and points due to cancellations.

@Fredflintstone : are you planning to become an owner if a good opportunity comes up? How do you define a good opportunity?

That’s a good question. In short, maybe with caveats.

1. The TS has to be platinum and priced right.
2. I will need to scour the contract. I want to see mutual protections. Many contracts I see are one sided leaving the owner really at their mercy.
3. I will only buy in non judicial anti deficiency states IN CASE the resort gets greedy and stupid. Even though I wouldn’t plan that they will; at least I have an out if I have to.
4. It would have to be a resort and time people want. No junk, no legacy. Something I see as an easy unload if necessary.
5. The MF seems reasonable. The HOA is accountable and do not resort to whip cracking threats instead of solid reasons why they do what they do.
6. I would feel confident I am getting value for what I am paying for.
7. Personally, I hate RCI. I think they are greedy weasels. I would want access to another exchange company. That said, I have heard HGV is pretty good.
8. The chain has to have resorts in Hawaii and a fair chance to book.
9. The resort has a deed back program just in case.


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dioxide45

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I thinks platinum timeshares will be grabbed with rofr if they were offered low enough, especially a buck.
Panina: You may very well be right, but I am thinking MVC, Hilton and Disney are in cash preservation mode at the moment. The vast majority of businesses are. Grocery chains aren't worried.
Back after 2009, low resale prices didn't get the developers in to the ROFR mood. They had too much inventory and no cash. I think this will be the same situation. Sales will plummet and the developers won't really have much need for additional inventory for a while. I doubt they will be snapping up much with ROFR.
 

MOXJO7282

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Back after 2009, low resale prices didn't get the developers in to the ROFR mood. They had too much inventory and no cash. I think this will be the same situation. Sales will plummet and the developers won't really have much need for additional inventory for a while. I doubt they will be snapping up much with ROFR.
Agreed. When things bottomed out in 2009 MOCs were going for $5-7K and Marriott didn't want anything to do with ROFR.
 

turkel

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Agreed. When things bottomed out in 2009 MOCs were going for $5-7K and Marriott didn't want anything to do with ROFR.

If that happens again sign me up!
 

Bird01

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Life will change after this event but we are not yet sure how it will change. I think more people will vacation in the US as versus international. Just a thought but people may become more cautious. Currently some US citizens are having trouble getting home. Good old USA is a pretty good place to be these days. That may be good for resorts and timeshares.
 

Kelso

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This is currently on TUG.
For Sale
Floating | | Other
Marriott Grande Vista
USA | FL | Orlando
52 2020
52 2020
1/1/2020
12/31/2020
White
11
4
Sales Price $700.00
Maint Fees $734.00
Posted: 3/26/2020 - Marriott Grande Vista - Bi Annual Even Years - GOLD Season
 

Kelso

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I will be keeping an eye out for a Platinum MVC GV or GC. Ideally a Grande Vista Florida Club.

Here is an ad on TUG right now.
For Sale
Floating | | Other
Marriott Grande Vista
USA | FL | Orlando
52 2020
52 2020
1/1/2020
12/31/2020


Sales Price $700.00
Maint Fees $734.00
Posted: 3/26/2020 - Marriott Grande Vista - Bi Annual Even Years - GOLD Season
 

csxjohn

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I'm not so sure timeshare companies will be exercising ROFR or other means to pick up contracts. It will depend on their prediction on how easy they will be to re sell. They are on the hook for MF while they own the units so it may slow them down.

I just picked up a contract of Bluegreen points that Bg normally takes back, I've only seen them pass on one at this resort int the last 3 years. Their sales offices are closed right now so there is no real market for them.

I feel that right now they are more worried about members bailing on fees than they are on ROFR.
 

Panina

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Thinking this out, right now many are not working. If that includes the offices that handle rofr it now might be a time period to get those low priced ones as there might not be staff to exercise rofr.
 

jmhpsu93

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I just bought 1,000 MVC Destination points on ebay for 0.76/point. I've never seen anything close to that low that sold. This will be a real test of ROFR at MVC.
 

fiat1bmw

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In the short term there "has" to be downward pressure on pricing and value, to put it politely. Just like buying high and selling low - you just lock in your losses. Longer term, if this doesn't become an annual event, an effective vaccine is developed and the morbidity and mortality rates decease significantly, time shares may look to be bargains - once the economy bounces back. There will be pent up demand for a lot of goods and services.

Bargain hunters who can afford it, get out there!!!
 

win555

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I'm finding that you can get great deals on great weeks right now. I have been making what I thought were low ball offers. 20% to 50% below the list price. Listed for 10k accepted at 2k. Another listed at 22k and accepted at 8k. Some come with free usage.

I thought very few of my offers would get accepted but many of them are accepted. Now I'm weeding out the weeks I want to buy based on other criteria.
 

TravelTime

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I'm finding that you can get great deals on great weeks right now. I have been making what I thought were low ball offers. 20% to 50% below the list price. Listed for 10k accepted at 2k. Another listed at 22k and accepted at 8k. Some come with free usage.

I thought very few of my offers would get accepted but many of them are accepted. Now I'm weeding out the weeks I want to buy based on other criteria.

What timeshares are you purchasing for these low rates?
 

Bucky

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Back after 2009, low resale prices didn't get the developers in to the ROFR mood. They had too much inventory and no cash. I think this will be the same situation. Sales will plummet and the developers won't really have much need for additional inventory for a while. I doubt they will be snapping up much with ROFR.

Exactly. Those of us with some dry powder got some great deals in 08/09. I picked up our two weeks for less that $2500 a piece and MVC wanted nothing to do with ROFR during that period. Could happen again but the real estate market in at least Myrtle Beach isn’t currently reflecting that. We’ve been trying to buy a second home there for a couple of months now and every time one hits the market that fits our requirements it is snatched up within just a few days. Will have to get a lot worse before we start seeing fire sales IMO.
 

Ralph Sir Edward

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It depends on what you consider a bargain.

The buy-in may be cheap - but what about the ongoing Maintenance Fees?

I'll use this example - Marriott's Maui Ocean Club - Lahaina/Napili Towers (MM1)- 2BR OF

Top end Platinum, no? Current MFs - $2902.71; with a year over year increase of 7.6%. Three more year of MF increases at that rate and you are at $3500.

Define cheap. Even if you got those bargain prices of 2008/2010 again, is it really a bargain, on an ongoing basis.
 

win555

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What timeshares are you purchasing for these low rates?

Still deciding which ones will be worth getting. But the offers were on Hyatt, Vistana, Marriott, HGVC, Worldmark and a couple of independents because they have a great location (Carlsbad).
 
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