Developer pricing for westins in Maui

[Carrie T]

Does anyone know the current 1 week sales prices from developer for:
Ocean FRONT 2 BR Nanea
Ocean FRONT 2 BR KOR N
Ocean FRONT 2 BR KOR

Thank you for any info!

 

[duke]

OFC at WKORV south is $125,000.
All OF require minimum $75,000 new money.

 

[CalGalTraveler]

Wow! [So glad we bought resale.]

Does anyone know of EOY Developer WKORV-N OF?

 

[Carrie T]

Thanks Duke! Do you know about developer price for KOR-N and Nanea 2 BR ocean front?

 

[DavidnRobin]

Last time I saw the number (few years ago), the WKORV OFD was $125K with an original price (~2003) of ~$68K

Originally (~2007), WKORVN OF was $68-74K - not sure what current VSE price is now.

Current Nanea 2Bd OF prices have been posted here on TUG. I posted the prices on 1st day Nanea went on sale in Aug 2015 (from WPORV Owner Update) - it was $76K

 

[Carrie T]

Thank you David! I'm wondering if anyone knows about today's prices. The $125K is still correct for the KOR (south) ocean front, from what I hear.

 

[taterhed]

So.....I have to ask: why are you asking developer prices?

Nanea I get: resale is not an option.
But, WKORV/N are both great resale options......unless you have some hi-dollar $$$ requal issue.

??? What's the real question ???

 

[Carrie T]

That’s the real question. I am trying to see if making a trade of my ownership makes sense and if the person tellin me pricing today is being honest. Trust, but verify. Just trying to verify

 

[vacationtime1]

I don't know the current developer price for WKORV/N-OF -- nor do I know whether Vistana has even sold one of those units in the past couple of years at any price. iirc, they dropped the price when Nanea went into active sales to make the 2bd OF units comparable in price. But that's not my point.

For what unit would you trade in a WKORV/N-OF? Those are the best Vistana units anywhere and they have resale value. When the salesweasel does the math, don't forget to add in the loss of that resale value (~ $25-35K) to your out-of-pocket payments when you do your analysis.

 

[Carrie T]

Good point. Thank you

 

[vacation dreaming]

I took the Nanea tour last week and was told the 2 bedroom OF Nanea is sold out. I was not interested so did not ask any questions.

 

[TravelTime]

So.....I have to ask: why are you asking developer prices?

Nanea I get: resale is not an option.
But, WKORV/N are both great resale options......unless you have some hi-dollar $$$ requal issue.

??? What's the real question ???

This was my question too. I do not understand why developer prices are relevant anymore if it is not being sold and the OP already bought or is planning to buy resale.

 

[Carrie T]

Apparently KOR-N OF is not sold out. They appear to have plenty on hand

 

[taterhed]

That’s the real question. I am trying to see if making a trade of my ownership makes sense and if the person tellin me pricing today is being honest. Trust, but verify. Just trying to verify

Gotcha.

There are a few recent threads on here about re-qual purchases to get Nanea. This thread (page 18 has examples of WKORV trade-in) https://tugbbs.com/forums/index.php...-you-can-requalify-retro-merged.24046/page-18

lots of discussion in that thread and many posters you could message to get some more answers

 

[DavidnRobin]

Apparently KOR-N OF is not sold out. They appear to have plenty on hand

I also do not understand why VSE prices of WKORV/N OF prices are relevant. They can be had for a lot (A LOT) less on the resale market with only losing ability to convert SOs to SPs (a very bad deal and getting worse year by year).

What is your purpose here? This is important if you want to get honest opinions here on TUG - VSE Sales will not do this.


Sent from my iPhone using Tapatalk

 

[CalGalTraveler]

I am not the OP however I am curious to know how much the dev prices have devalued with our resale unit i.e. what is the exact % decline

It would also be interesting to know the impact of MF increases related to the resale price declines. What is the relationship?

But this is just analytical me. IDK what the OP wants.

 

[duke]

None of this is relevant. The out of pocket cash you must bring to any Maui OF unit is $75,000.
Regardless of what they give you on a trade in you will need an additional $75,000 cash.
For $75,000 you can buy THREE OF resales at any of the Maui properties.

 

[EnglishmanAbroad]

As if things aren't confusing enough, the resale prices seem to be nonsensical in some cases. For example on RedWeek there's an Island View, Annual at WKORV-N for $399 and another one for $25,000. Those two sellers must have completely different views on value

 

[Carrie T]

Well, I can answer my own question now. As of today selling prices from developer are(for 2BR OF)

Nanea:$85,845
KOR-N: $82, 900
KOR (aka south) $125K

They have all of it to sell.

Thanks all for the comments

 

[EnglishmanAbroad]

Well, I can answer my own question now. As of today selling prices from developer are(for 2BR OF)

Nanea:$85,845
KOR-N: $82, 900
KOR (aka south) $125K

They have all of it to sell.

Thanks all for the comments

So it's a difficult choice for the KOR properties, 1 week from the developer or 4 weeks from resale for anyone with $80K-$125K to spare

 

[CalGalTraveler]

Thanks @Carrie T This is relevant to me because as a resale owner I want to know what alternatives potential buyers are evaluating, and economic mindsets that some sellers may have. Info is power.

Any sense as to what the EOY prices are?

(Hint: It would be nice if this pricing could be on a Vistana Sticky.)

 

[CalGalTraveler]

So it's a difficult choice for the KOR properties, 1 week from the developer or 4 weeks from resale for anyone with $80K-$125K to spare

If I had paid developer (and not resale) and am now paying today's hefty MF, I would be very unhappy about this purchase. The resale prices sound too good to be true. I am glad that when we don't want this anymore, our max loss is capped at only $12k which is what we paid resale - however I expect that this OF property will have some value, so even if declines by half, this is only $6k - that's only $300 a year over 20 years.

BTW...for $125k at rising interest rates, you could invest the money in a CD and get almost enough money every year to rent WKORV OF and still have 100% at the end with no obligation (or 90% of your money back if you use some of the capital to fund the gap in rent) .

 

[Carrie T]

Good point! Yeah that is a lot of money!

To calgal, the EOY prices are a little more then half oh the annual rate. I didn’t write those down

 

[DavidnRobin]

Sorry - maybe I am missing something...

For WKORV/N OF - it is not relevant what current VSE prices are, or what the original SVO prices were. It is only relevant what current resale prices are. These can be estimated from ROFR info and current sale prices (not listings).

As Nanea OF is still early in its history (still in sales or just ended) - there is only speculation on what VSE will sale them for in future (in 5+ years like WKORN/N), and what resale prices will be once they are relatively prevalent (as they assuredly will be).

I suspect in 5+ years they will still be at current price for VSE, and I am guesstimating 75-80% less for Nanea OF.

Anyone else care to guess? In 5 years we can check back...

 

[TravelTime]

As if things aren't confusing enough, the resale prices seem to be nonsensical in some cases. For example on RedWeek there's an Island View, Annual at WKORV-N for $399 and another one for $25,000. Those two sellers must have completely different views on value

Redweek does this to get a buyer so they can submit it to Vistana but they will tell you upfront it will not pass ROFR. They did this with me. They had a Westin oceanfront fixed week fixed unit listed at $1000. Of course, Westin bought it back. This seller is listing for $399 to get a buy back from Westin and get out of MFs. They need a buyer and a contract with a deposit to get Westin to exercise ROFR.