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Decision to make

malonem68

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Hello All,

I have been visiting this site often after a presentation we went to in AC. We didn't buy (and am happy about that) but decided to research timesharing on the internet and found this site. Lot's of GREAT information here.....so thank you for that.

I have a decision to make. I have been offered a FREE prime week timeshare in a resort which has excellent trading power through II. (Not sure if I can mention the resort). Now...I just have to decide if I want to accept it or not.

A little back ground. Family of 5, oldest graduating High School this year and the other two are 13 and 10. So we can only travel in the summer for the most part. We typically take the last week in August for vacation.

I would be interested in the unit for trading purposes. We like Disney, Vermont, Williamsburg, etc. and when the kids are older the wife and I would like Jamaica and Hawaii at some point.

I've worked out the fees to be $660 MF, $89 for II and I believe $179 for an exhange. I have also been told that the week should get an AC to be used and that it is $299 to use it. So I am looking at a total of around $1,200 per year for 14 nights of vacationing which isn't too bad considering it works out to be under $100 per night.

So, my question is from what I have posted above, am I missing any fees or any other cost that any owners didn't expect? (I know there is the possibility of a special assesment but am willing to deal with that.)

The unit is a fixed week and trades in II and it is a week system and not a points system. Apparently it also trades through RCI, but it isn't as strong a trader as in II.

Any advice would be appreciated.

Thank you!
 

timeos2

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Is the fixed week one you can/could use? Buying to trade is generally a bad choice as the fees can quickly add up to kill the value. But if the numbers work for you're, and you understand that trading into prime times like school vacations can be very hard to do except for some high density areas & if you can accept any resort / smaller units then trading may work for awhile. But ultimately you'll be dealing with the deeded week either to use,rent or sell. If it has value for those uses then it may make sense. If all you see is a potential trade value I'd walk away fast!
 

AwayWeGo

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[triennial - points]
Inflated Full-Freight Prices Add Illusion Of Value Where There Might Not Be Any.

So, my question is from what I have posted above, am I missing any fees or any other cost that any owners didn't expect?
It took us a few years to catch on that the value of a timeshare is pretty much limited to its use as vacation accommodations & that the true cost of timeshare vacationing is in the ongoing & everlasting annual maintenance fees (with possible special assessments thrown in now & then, just to keep us off balance).

Our initial impression, based on full-freight prices of $18,500 & $27,000 & up which the full-freight timeshare sellers were tossing around, was that buying a comparable timeshare resale for $3,500 would be like getting $15,000 free. After all, there is no such thing as a new timeshare -- they've all been lived in by the time we show up & check in -- so why pay $18,500 when we can get another copy of the same thing for $3,500 -- or for $1,500 less we can get something slightly bigger & even newer?

Nothing that the timeshare companies sell at full freight was ever worth the money, & today's near-zero value for so many timeshare deeds only heightens the contrast between the high-pressure sales ballyhoo & razzle-dazzle on the 1 hand & the cold, hard realities on the other hand.

What we want out of timeshares is luxury vacation accommodations at Motel 6 & Super 8 rates. That is impossible for anyone who pays full freight for a timeshare deed, & with rising costs it's getting harder & less certain even if we get our timeshare deeds cheap or free.

We are not smart enough to figure stuff out in the abstract, not in any detail. We have to learn by doing.

Fortunately, we caught on to the reality that there is no such thing as a new timeshare before ever being tempted to buy a "new" one. And, thanks to a highway billboard we saw immediately after saying No Thanks at a timeshare sales pitch (high-pressure & ballyhoo & razzle-dazzle), we found out about timeshare resales. The rest, which is history, is all spelled out here in the annals of TUG-BBS.

Is this a great country or what ?

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
 

malonem68

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Thank you for the responses so far. I have 1 'NO....don't do it' thus far. :)

Everything I have researched tells me that this will fit our needs. And I even managed to get the wife on board.

I guess the only thing that bothers me is you can't 'test' the trades...and if you are wrong you are in for life....or at least until I die!!

Which leads me to another question. Deeding the property. I figure my wife will out last me...so I was thinking of deeding the property in my name only so she could choose to keep it or get rid of it upon my passing. Any thoughts on that? If it works out, great...she can keep paying the MF and enjoy it, if not, she can claim insolvency and just let it go.

Opinions would be appreciated.

Mike



It took us a few years to catch on that the value of a timeshare is pretty much limited to its use as vacation accommodations & that the true cost of timeshare vacationing is in the ongoing & everlasting annual maintenance fees (with possible special assessments thrown in now & then, just to keep us off balance).

Our initial impression, based on full-freight prices of $18,500 & $27,000 & up which the full-freight timeshare sellers were tossing around, was that buying a comparable timeshare resale for $3,500 would be like getting $15,000 free. After all, there is no such thing as a new timeshare -- they've all been lived in by the time we show up & check in -- so why pay $18,500 when we can get another copy of the same thing for $3,500 -- or for $1,500 less we can get something slightly bigger & even newer?

Nothing that the timeshare companies sell at full freight was ever worth the money, & today's near-zero value for so many timeshare deeds only heightens the contrast between the high-pressure sales ballyhoo & razzle-dazzle on the 1 hand & the cold, hard realities on the other hand.

What we want out of timeshares is luxury vacation accommodations at Motel 6 & Super 8 rates. That is impossible for anyone who pays full freight for a timeshare deed, & with rising costs it's getting harder & less certain even if we get our timeshare deeds cheap or free.

We are not smart enough to figure stuff out in the abstract, not in any detail. We have to learn by doing.

Fortunately, we caught on to the reality that there is no such thing as a new timeshare before ever being tempted to buy a "new" one. And, thanks to a highway billboard we saw immediately after saying No Thanks at a timeshare sales pitch (high-pressure & ballyhoo & razzle-dazzle), we found out about timeshare resales. The rest, which is history, is all spelled out here in the annals of TUG-BBS.

Is this a great country or what ?

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
 

DeniseM

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Since you aren't trying to sell it or rent it to us, you can definitely say what it is. In fact, please tell us the:

-resort name
-size unit
-deeded week

Who told you it was an excellent trader?
I guess the only thing that bothers me is you can't 'test' the trades...and if you are wrong you are in for life....or at least until I die!!
If you give us all the details, we can advise you on that.
 
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malonem68

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Thanks Denise,

It is a Foxrun unit. 2 br in Lake Lure. Fixed week 29.

So far I am leaning towards taking it. There are some other weeks available as well but from what I saw on II, week 29 falls in the highest demand period.

Any info you could provide would be appreciated.

Mike





Since you aren't trying to sell it or rent it to us, you can definitely say what it is. In fact, please tell us the:

-resort name
-size unit
-deeded week

Who told you it was an excellent trader?

If you give us all the details, we can advise you on that.
 

tschwa2

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As an owner there, I would say it is decent but not fabulous. It is not my most cost effective trader but I always trade my week at least 10 months in advance of the use date because i find something good to trade it for and like to save my Marriott for Marriott to Marriott trades and Starwood for Starwood exchanges. MF's are $50-$100 more per year than I would like them to be and since it is not a lock off it limits the trades somewhat. As long as you are still tied to the school calendar the AC is not going to help you. At this point I find 90% of anything I would consider using in II is less expensive as an XYZ or as a getaway rental. If your looking to go to Orlando, you would certainly be able to use it to get almost whatever you want at almost anytime of year. Marriott's and Starwood units in primetime in other locations like Hawaii won't have larger units make it past the exclusive priority for those brands most of the time but if you are lucky you may be able to grab one. It works well with getting Hyatt's and most independent resorts using the ongoing search but we have never tried to get a ski week. It seems like it can often pull the Four Seasons that show up in II but not always.

I don't think you can do much better with a free week without luck and more searching/research especially since you are looking to exchange into 2 bedroom units for the next several years. Its also a nice resort and worth a visit one summer. If I were starting fresh I might look for a lock out (2- one bedrooms are better than a one bedroom and studio) with the same MF's or a 2 bedroom similar prime season one with slightly lower MF's. An every other year SDO 1-52 might work better if you are willing to take the time to search II frequently and the sightings board since you can't set up ongoing searches for 2 bedroom units that have smaller units available with less than a 2 bedroom deposit.
 

malonem68

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As an owner there, I would say it is decent but not fabulous. It is not my most cost effective trader but I always trade my week at least 10 months in advance of the use date because i find something good to trade it for and like to save my Marriott for Marriott to Marriott trades and Starwood for Starwood exchanges. MF's are $50-$100 more per year than I would like them to be and since it is not a lock off it limits the trades somewhat. As long as you are still tied to the school calendar the AC is not going to help you. At this point I find 90% of anything I would consider using in II is less expensive as an XYZ or as a getaway rental. If your looking to go to Orlando, you would certainly be able to use it to get almost whatever you want at almost anytime of year. Marriott's and Starwood units in primetime in other locations like Hawaii won't have larger units make it past the exclusive priority for those brands most of the time but if you are lucky you may be able to grab one. It works well with getting Hyatt's and most independent resorts using the ongoing search but we have never tried to get a ski week. It seems like it can often pull the Four Seasons that show up in II but not always.

I don't think you can do much better with a free week without luck and more searching/research especially since you are looking to exchange into 2 bedroom units for the next several years. Its also a nice resort and worth a visit one summer. If I were starting fresh I might look for a lock out (2- one bedrooms are better than a one bedroom and studio) with the same MF's or a 2 bedroom similar prime season one with slightly lower MF's. An every other year SDO 1-52 might work better if you are willing to take the time to search II frequently and the sightings board since you can't set up ongoing searches for 2 bedroom units that have smaller units available with less than a 2 bedroom deposit.


Thank you for the detailed response! I am a little confused about your one comment if you could please clarify. "I don't think you can do much better with a free week without luck and more searching/research..."

Does this mean you think that it is a good deal to get into? I don't mind the maint. fees, don't mind planning a year in advance and I was looking at the getaway rentals and XYZ trades as well. If you could please just clarify that one point I would appreciate it. And again...thank you very much for the response.
 

chalee94

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i'm in a similar boat as i own a timeshare near lake lure also.

i'd agree that it will probably be a "very good" trader but maybe not "excellent."

you would probably have options for trades into orlando into multiple marriotts or starwoods, but other marriott/starwood owners get first pick of those potential trades so our unbranded timeshares are a little more limited.

i have gotten some great trades into marriotts but i tend to go offseason (early dec in newport coast villas in southern CA...sept at surfwatch on hilton head island, for example.) it might work, but in trading "like-for-like," usually something will have to give if you are offering an unbranded 2BR in a relatively low demand area (even in high season) for a branded 2BR in high season...

i'd also agree that you should not expect a lot from the ACs, as they can be pretty limited unless you are happy to take what you can get on short notice...
 

timeos2

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Thank you for the detailed response! I am a little confused about your one comment if you could please clarify. "I don't think you can do much better with a free week without luck and more searching/research..."

Does this mean you think that it is a good deal to get into? I don't mind the maint. fees, don't mind planning a year in advance and I was looking at the getaway rentals and XYZ trades as well. If you could please just clarify that one point I would appreciate it. And again...thank you very much for the response.

I believe they are saying its an OK deal. While with deep research & time you might do better this one isn't bad. Free is nice as long as you understand the real cost is the ongoing fees (and you seem to up on that) so unless I'm misreading the response they are saying go for it.
 

tschwa2

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I think it is a good deal. I think you could do better. I think after getting the week and "playing with it in II" you might find something better. If you wait and don't take it you might find something better you might not. There is probably going to be free prime time availability at Foxrun for awhile but until you work with the system you may not discover what works best or you. The longer you wait though the longer until you can start learn by doing. Reading the boards are very valuable but everyone's needs are a little different.

If you like the resorts in II and you are happy with going to Williamsburg, Orlando, and other nice non coastal areas in the summer (I am assuming you are East Coast) if nothing better comes up in II then I would say take it. If you are set on non-florida beach vacations in the summer guaranteed even with advance planning, you will be disappointed.

If you are West Coast, I would say put more money upfront and get a Worldmark resale. If you are central US, I don't know enough about the area to say but I would probably pass on Foxrun.
 
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malonem68

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I think it is a good deal. I think you could do better. I think after getting the week and "playing with it in II" you might find something better. If you wait and don't take it you might find something better you might not. There is probably going to be free prime time availability at Foxrun for awhile but until you work with the system you may not discover what works best or you. The longer you wait though the longer until you can start learn by doing. Reading the boards are very valuable but everyone's needs are a little different.

If you like the resorts in II and you are happy with going to Williamsburg, Orlando, and other nice non coastal areas in the summer (I am assuming you are East Coast) if nothing better comes up in II then I would say take it. If you are set on non-florida beach vacations in the summer guaranteed even with advance planning, you will be disappointed.

If you are West Coast, I would say put more money upfront and get a Worldmark resale. If you are central US, I don't know enough about the area to say but I would probably pass on Foxrun.


Thank you for the clarification. I just got my wifes "Wish List" for vacation spots she would like to visit in the near future. Hers were Jamaica (we went on our honeymoon there), Mexico and the Florida Keys.

Mine were as I said, Orlando, Vegas, Williamsburg, Vermont and possibly the Outer Banks.

I'm curious if Jamaica and Mexico would be possibilities. Keep in mind too that we don't need 5 star accomidations. (Though it would be nice! :rofl: )
 

tschwa2

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Thank you for the clarification. I just got my wifes "Wish List" for vacation spots she would like to visit in the near future. Hers were Jamaica (we went on our honeymoon there), Mexico and the Florida Keys.

Mine were as I said, Orlando, Vegas, Williamsburg, Vermont and possibly the Outer Banks.

I'm curious if Jamaica and Mexico would be possibilities. Keep in mind too that we don't need 5 star accomidations. (Though it would be nice! :rofl: )

Mexico will be do-able. II doesn't have too much inventory in Jamaica and what it does is usually only All Inclusives that are either very high end and exchanging and paying the AI fee might save you $1000-$2000 but you would still be paying $2000-$4000 out of pocket in addition to your exchange. The other AI's in Jamaica may save you $200- $300 but considering your MF and II membership and exchange fee you would be paying more than if you didn't exchange you TS and got it from Expedia, Apple, or directly from the resort.(II exchange with an AI fee of $800-$1500 vs $1100-$1800 booked w/o TS)
 

T_R_Oglodyte

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One very important consideration - one that probably can't be overemphasized - is to be satisfied that down the road you will be able to unload the ownership if need be. Always know that you have a viable exit strategy. If you don't know for certain you can shed the ownership obligations, don't get in.

In this case someone is giving it to you. Are you certain that, if need be, you will be able to find someone to whom you can give it??
 

malonem68

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One very important consideration - one that probably can't be overemphasized - is to be satisfied that down the road you will be able to unload the ownership if need be. Always know that you have a viable exit strategy. If you don't know for certain you can shed the ownership obligations, don't get in.

In this case someone is giving it to you. Are you certain that, if need be, you will be able to find someone to whom you can give it??


Very good point! I had considered that and am willing to take that risk. I feel that if that were the case down the road I would be able to give it away. And if not, then I can always use the resort or have family members use it.
 
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