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Harbor Ridge Foreclosure Sale Oct. 29th

amycurl

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Just a head's up that Harbor Ridge, in Southwest Harbor, ME (Mount Desert Island, same as bulk of Acadia National Park) will be selling foreclosed weeks on October 29th. These are being sold by the HOA (I'm assuming; it's an owner-controlled resort and HOA.) They just posted on their Facebook page. I would call the resort directly if you are interested in more getting more details.

This is a Premier II resort, with *incredibly reasonable* MF.
 
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Travelclam

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they set the minimum bid at $1500 for an early summer week; plus $450 of assessment and $250 of transfer fee. It doesn't seem like a great foreclosure auction these days.

b
 

theo

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I agree...

they set the minimum bid at $1500 for an early summer week; plus $450 of assessment and $250 of transfer fee. It doesn't seem like a great foreclosure auction these days.

It would seem that the first priority should be to get a new owner "on the books" who is willing to assume immediate responsibility for current and future annual maintenance fees. Identifying an artifically high minimum bid figure (which may well be out of step with the harsh reality of current market conditions and without any consideration of the other hefty associated "closing" costs) certainly doesn't seem to reflect the right priority.

That said, I don't think that it's uncommon for "in house" resales to be routinely unwilling to acknowledge current market realities. There seems to be an unspoken but clearly evident unwillingness to "let go" of the figures people have paid in the financially better times of yesteryear. At another Maine timeshare facility with which I am quite familiar (Samoset), in house resale "asking" prices are so high as to border on absurd.

Words from an old Chad and Jeremy song come to mind here:
"...but that was yesterday --- and yesterday's GONE..."
 

sjuhawk_jd

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It would seem that the first priority should be to get a new owner "on the books" who is willing to assume immediate responsibility for current and future annual maintenance fees. Identifying an artifically high minimum bid figure (which may well be out of step with the harsh reality of current market conditions and without any consideration of the other hefty associated "closing" costs) certainly doesn't seem to reflect the right priority.

That said, I don't think that it's uncommon for "in house" resales to be routinely unwilling to acknowledge current market realities. There seems to be an unspoken but clearly evident unwillingness to "let go" of the figures people have paid in the financially better times of yesteryear. At another Maine timeshare facility with which I am quite familiar (Samoset), in house resale "asking" prices are so high as to border on absurd.

Words from an old Chad and Jeremy song come to mind here:
"...but that was yesterday --- and yesterday's GONE..."

Theo, although yours is a well articulated post, in timeshare market, yesterday never goes away. People still pay developer prices through sales presentations; many of them then post here on TUG seeking help. Majority of these developer buyers never find TUG.
 

amycurl

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Thanks, SailBad. I wasn't sure which place to post it. Just thought some folks might be interested....
 

funtime

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Marketing to current owners as they are apparently doing on their facebook page is smart and their prices may not be out of line to current owners. I know nothing of this resort but the fact that they have a facebook page so that they are ahead of the curve. Funtime
 
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