I inherited 2 fixed weeks at fairfiled Glade

[rbaum0519]

My parents had 2 weeks in Fairfiled glade. One in July (red) and one in Feb (white?). Maint fees are $512 for each week for a total of 1024 per year.

I spent a week their last week and FF wanted to convert the weeks to Points.

They were offerring to convert the 2 weeks to 308,000 points (VIP) for $10,900 plus some admin costs. Maint fees would stay the same at $1024 per year.

Their was allot of "fixed weeks are not good anymore" talk and some "scare" tactics about how the maint fees will keep increasing.

I know very little about the value of points. I was thining of "giving up" the Feb week since $500 is allot for a week I will not use. $512 for the July week is not bad and we will use that week each year or rent it out.

Any other ideas or advice on this?

Thanks in advance......

Ray

 

[timeos2]

Far too much for way too little value

My parents had 2 weeks in Fairfiled glade. One in July (red) and one in Feb (white?). Maint fees are $512 for each week for a total of 1024 per year.

I spent a week their last week and FF wanted to convert the weeks to Points.

They were offerring to convert the 2 weeks to 308,000 points (VIP) for $10,900 plus some admin costs. Maint fees would stay the same at $1024 per year.

Their was allot of "fixed weeks are not good anymore" talk and some "scare" tactics about how the maint fees will keep increasing.

I know very little about the value of points. I was thining of "giving up" the Feb week since $500 is allot for a week I will not use. $512 for the July week is not bad and we will use that week each year or rent it out.

Any other ideas or advice on this?

Thanks in advance......

Ray

Use the weeks, trade them through RCI or FAX (very limited on that). If you want FSP Points save your $10,900, go to eBay or a resale broker, spend $3000 - $3500 and get your points. Use the remaining $7000 for 4-5 years of annual fees.

It is a total waste to convert the weeks at that price as the minute your rescind days run out they would be worth at best $4000- $4500. Not a good move.

If you don't want the weeks at all sell them - cheap - use the sale price and a little of that $10,900 to buy resale points and be WAY ahead of the game. Again the value just isn't there in the conversion.

 

[vacationhopeful]

In other posts, a fixed week conversion is ~$2395+995 for each additional week. As there are multiple buildings and size of units, OP would have to describe both units fully to determine exact point values.

IMHO he was being offered an upgrade and conversion package to VIP. As these were inherited from his parents, it would be a legit option from the Wyndham (one his parents might have been offered for several years). It would have been a very small number of points and OP might be able to negotiated an even lower price than the $10,000+.

I would doubt that his maintenance fees would remain the same as OP would be purchasing more TS time and with FSP Points there is FSP fees (about $.52 per thousand pt).

My suggestion is that he read more about Wyndham points systems and resorts, esp those units which were converted to points. Also, if he was turning in the deeds totally (the new deed would be for a total of the points and at which resort - a newer one or an resort that OP would prize more as a Home Resort - would be other considerations.

There is alot for OP to consider besides a $10,000 fee.

 

[Bill4728]

My parents had 2 weeks in Fairfiled glade. One in July (red) and one in Feb (white?). Maint fees are $512 for each week for a total of 1024 per year.

I spent a week their last week and FF wanted to convert the weeks to Points.

They were offerring to convert the 2 weeks to 308,000 points (VIP) for $10,900 plus some admin costs. Maint fees would stay the same at $1024 per year.

...

Thanks in advance......

Ray

The key question is " $10,900 to convert week into 300,000 points, good deal or bad?"

Since you can buy, on the resale market, a 300K point TS for about $3000 - $4000. AND still have your current TSs ( or sell your current weeks for cash), No this isn't a good deal.

 

[rbaum0519]

The Wyndam Sales Pitch at FField Glade

When they talked to me about the points conversion they said that it may be too late for me to convert at the "special" price of $10900. They said they would have to call corporate to see if I could still get that "special" rate. And if I did get the special rate I would have to act in 24hrs or they would recind it. As soon as I heard the "must act within 24 hrs I knew something was "up"- The old new car slaeman trick.

They will not convert the weeks to points unless you buy 77000 points for $10900 - what a deal ; plus you'd have to pay the transfer fees.

They said fixed weeks will eventually die out and Wyndam will turn over fixed week management to a third party management team and Maint fees would go sky high (more scare tactics)

They told me if I converted my current "worthless" 2 weeks would be worth 30-40K !! How do these people sleep at night??

Thanks for all of your insight.

Ray
TUG Rules!!

 

[vacationhopeful]

They buy a good mattress.

As for options, get an estimate on Redweek.com for their exchanging system. If you deposit both or just the January week, their exchange fee is $125 ... points are good for 3 years, guest certificates are free, plus you can rent extra points from them to complete an exchange, and you can rent out your exchange. If you are looking for last minute, you can also get some good deals.

Unlike, RCI which trades week for week - Redweek "points" allows you to combine and split the points for a week trade.

Good luck.

 

[lprstn]

I'd sell it cheap and use the profit to purchase resale....and trust me, the deal will be there later also...