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Foreclosure Units Available Hyatt Beach House

Quinte

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Hyatt Wild Oak Ranch
Hyatt Beach House
W
Just wanted to make sure because I'm new to HRC and looking to make my first purchase. This seems like a really good price on the diamond weeks. Anything I'm missing/not thinking about? Pitfalls to avoid? Thanks
We are Beach House owners and like the resort. Some things to consider.
  • Are you comfortable with a resort that is not in the "main" action of Key West? We like that feature, but some will not.
  • As a smaller resort, does it have enough amenities for your interests?
  • Is this one you would use every year, or are you thinking of trading? When our kids got older, we started using our Diamond week for other properties (e.g. Hyatt Wild Oak Ranch). You also need to ask yourself, what would happen if we could no longer trade within Hyatt or Interval?
One of the challenges we never thought we would encounter has been the closure of border; we had to cancel one trip this summer and will likely have to cancel one booked for January. It raises the question, of what you would do if you couldn't go there.

The board has been fairly stable, in terms of membership, which can be positive or negative. There are generally several people interested in running for positions, meaning members are active. From what I can tell, quite a number of owners own multiple weeks.

I believe maintenance fees have been fairly well balanced with ongoing maintenance to the building and replacement of appliances, soft goods, etc. Again, as Canadians, the fee we pay is always affected by the exchange rate, so sometimes it looks better than other times.
 

Dennis Smith

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Animal Kingdom DVC
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We are Beach House owners and like the resort. Some things to consider.
  • Are you comfortable with a resort that is not in the "main" action of Key West? We like that feature, but some will not.
  • As a smaller resort, does it have enough amenities for your interests?
  • Is this one you would use every year, or are you thinking of trading? When our kids got older, we started using our Diamond week for other properties (e.g. Hyatt Wild Oak Ranch). You also need to ask yourself, what would happen if we could no longer trade within Hyatt or Interval?
One of the challenges we never thought we would encounter has been the closure of border; we had to cancel one trip this summer and will likely have to cancel one booked for January. It raises the question, of what you would do if you couldn't go there.

The board has been fairly stable, in terms of membership, which can be positive or negative. There are generally several people interested in running for positions, meaning members are active. From what I can tell, quite a number of owners own multiple weeks.

I believe maintenance fees have been fairly well balanced with ongoing maintenance to the building and replacement of appliances, soft goods, etc. Again, as Canadians, the fee we pay is always affected by the exchange rate, so sometimes it looks better than other times.
Great, thank you very much for your feedback!
 

dahntahn

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DVC Saratoga Springs, Hyatt Beach House, Hyatt Coconut Plantation
I sold a Diamond BH week 2 months ago for $4600 [plus closing, plus Hyatt transfer fee], so I think that $4000 would be a very reasonable price to pay now. However, it is possible that if the economic downturn worsens due to the resurgence of Covid, people may be selling at more fire sale prices a couple of months from now.
 

SunsetMaven

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Did you ever try offering less? Any luck?

Will Hyatt take a lower offer? What is your opinion? If you read your stock proxy board election balance sheet you will see bad debt column. Not to mention attorney fees On most of my resorts that number is very very high. I think more resorts should sell off foreclosures and give backs to cover the debt and receive a paying owner for maintenance fees.
 

Sugarcubesea

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QH, HBC, VBHC, & Pinestead Reef
It would be pretty hilarious if Hyatt then exercised ROFR lol
Yes, I guess it would be pretty funny if they did but it would defeat their purpose of getting these units into people's hands that will pay MF's
 

bdh

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Yes, I guess it would be pretty funny if they did but it would defeat their purpose of getting these units into people's hands that will pay MF's
There was an agreement in late 2019 where Hyatt would buy all of BH's foreclosed HOA owned units - then Covid hit and that agreement was suspended. So the BH HOA's desire to sell units has prompted them to be a motivated seller with the list the OP posted.

It doesn't matter to BH who buys the units, a private individual or Hyatt, that owner pays the MF in lieu of BH HOA/owners.
 

SunsetMaven

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Anyone know if there are still diamond weeks available? I've both emailed and left Stephen Hammond a voicemail but no response yet.



Just received the latest newsletter and here's the units that are up for sale. Not bad pricing. Only $500 more than I paid for my Plat week on ebay last year.

RESALE UNIT LISTINGS AND APPROVED PRICING The board of the Beach House Condominium Association approved (on Aug. 10, 2020) the following Association unit weeks at the prices listed by category as outlined below. The units are sold by Realty Executives, Florida Keys Realtor, Stephen Hammond, cell number +1 305.766.991

UNIT WEEK PRICE
D14 01 $4,000
C24 02 $4,000
A33 03 $4,000
C22 05 $4,000
B11 10 $4,000
D23 11 $4,000
A21 12 $4,000
C33 12 $4,000
E12 14 $4,000
C13 22 $3,000
C14 22 $3,000
A23 24 $3,500
A13 25 $3,500
D12 25 $3,500
D32 26 $3,500
C15 28 $3,500
C14 30 $3,500
C12 34 $1,500
E11 34 $1,500
E31 36 $1,000
E31 37 $1,000
B31 37 $1,000
D12 40 $3,000
E11 40 $3,000
F31 41 $3,000
D13 42 $3,000
F22 43 $3,000
C24 44 $3,500
E13 46 $3,000
A32 47 $3,500
C25 47 $3,500
C23 48 $3,000
B24 49 $3,000
F21 51 $4,000

The approved pricing for the sale of foreclosed unit weeks is as follows:
TYPE POINTS WEEKS PRICE
Diamond 2,200 pts 1–17, 51–52 $4,000
Platinum 2,000 pts 18–21, 23–30, 44, 47 $3,500
Gold 1,880 pts 22, 31, 40–43, 45, 46, 48–50 $3,000
Silver 1,400 pts 32–35, 39 $1,500
Bronze 1,300 pts 36–38 $1,000
 

SunsetMaven

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Do you know if there are still diamond weeks available?

There was an agreement in late 2019 where Hyatt would buy all of BH's foreclosed HOA owned units - then Covid hit and that agreement was suspended. So the BH HOA's desire to sell units has prompted them to be a motivated seller with the list the OP posted.

It doesn't matter to BH who buys the units, a private individual or Hyatt, that owner pays the MF in lieu of BH HOA/owners.
 

mateo9999

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I spoke to Stephen last week and all of the Diamond units have been sold. There are still Platinum weeks available.
 

cfabar1

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Does anone know if there was any negotiation to be had?

Is there any advantage to buying from them rather than buying from RedWeek, etc
 

alexadeparis

TUG Review Crew
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Does anone know if there was any negotiation to be had?

Is there any advantage to buying from them rather than buying from RedWeek, etc
no negotiation when buying from the hoa - try facebook groups - and post what you are looking for - usually someone has something for sale
 

cfabar1

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Thanks so much! Good to know. The prices aren't too bad, I may see what comes of this.
 
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