Do you think resale price will go up, down, or remain the same.

[jjking42]

Looking at resale prices on timeshares and considering all the cancelled trips do you think more people will want to dump their timeshares soon ? Will resale prices drop ? Please don't turn this into a Covid thread just want to know if you think buy now or wait and buy later.

 

[bnoble]

From where I am sitting, a very very significant recession (and possibly depression) is coming over the next year or two. I'd wait until late fall '20/early winter '21, at least.

 

[pedro47]

Maybe, this recession will causes the major developers to change their sales tactics and their resale policies.

 

[1Kflyerguy]

From where I am sitting, a very very significant recession (and possibly depression) is coming over the next year or two. I'd wait until late fall '20/early winter '21, at least.

I agree, i would not be in hurry to buy into a timeshare. Actually i would be surprised to see changes in the entire travel industry. This is going to much worse than 911 was the airlines and hotels.

 

[Panina]

Wait and watch, many will have financial difficulties and towards the 4th quarter will not want to have a mf for next year.

 

[jjking42]

Its hard to be cheaper than free but we are seeing more buyers paying closing costs. The ones I want to buy still have value.

 

[alwysonvac]

Yes, wait. Prices will be dropping but only buy what you need

High QualityTimeshare Resale Prices Plummeting (November 2008) -

High QualityTimeshare Resale Prices Plummeting

Many desirable high quality resort timeshare weeks are being purchased for pennies on the dollar. Prices are 10% to 20% of what original purchasers paid 5 to 10 years ago. 10K weeks for 1K, 5K weeks for $500.00. Orlando resorts are going for $100.00 and less on Ebay. It is truly a...

tugbbs.com

Timeshares never came back after the recession of 2008. Resales are not recovering value (August 2019) -

Timeshares never came back after the recession of 2008. Resales are not recovering value.

I paid quite a bit resale for my first SBP lockoff unit. With closing costs and MF's reimbursed, plus a price tag of $1,300. This was a long time ago, I admit, but the recession brought the resale value down to $0 with free closing and free usage (if Vistana would even allow free usage during...

tugbbs.com

 

[WalnutBaron]

Bumping this thread to freshen the conversation. As an owner in the Hyatt system, I can say with certainty that Hyatt resale prices have dropped considerably (I would estimate about 30% from the beginning of the year). I've also recently spoken to a well-known and trusted broker/agent who agrees with this statement.

Not only have prices dropped, but the number of listings has grown significantly. I'm guessing this is just the tip of the iceberg, as we will see a huge increase in listings beginning in the fall and particularly the 4th quarter as owners a) become frustrated with having to pay continuing MF's even though they have been largely shut out of using their units for a good part of the year; and b) 2021 MF statements will be coming due.

There's one more ticking time bomb, and that's the down-range much greater competition coming for 2021 and 2022 bookings, as many of us--perhaps most of us--are depositing unusable fixed weeks into the exchange companies. Getting those plum exchanges is going to be much tougher until the effects of COVID-19 fully unwind, which will be years from now.

 

[needvaca]

I think year end will be a great time to buy. Maintenance fees will be due and people will be looking to offload.
Right now, your average timeshare owner isn’t thinking about their ownership, they are busy trying to figure out their job situation and other more pressing issues. At year end, their maintenance bill will cause people to realize they don’t want the liability