Is thisdeal good?

[ellend]

I own in Courts Section and have some queries.

Starwood have offered to buy back my two weeks for $13,000 to set against buying an every-other-year unit in Lakes. I would have to pay an extra $8,000 (figures rounded because I don't have exact figures with me). Bearing in mind age of Courts, they have an assessment of $1300 a week due and the fact that points/options would suit me better, is this a good deal? Or would I be better off just giving the units away?

Urgent replies would be appreciated.

Many thanks in advance.

The Lakes section they are offering are new (still being built) and I am more likely to use points/options to stay elsewhere.

ellend

 

[SDKath]

I am not hugely familiar with the FL timeshares but I was told from this board that Lakes and Cascades are the only ones participating in SVN and giving staroptions. So if you only have to pay $8000 for Lakes directly from SVO, I would definitely take it. You can't give away the older TS from what I have seen. One auction just closed in the falls for about $3 I think! This is your perfect out for a better unit.

If you don't want to spend the money, don't some of the older SVR contracts have an "out" where if conditions are bad by 2010, you can actually negate your contract and give up your TS forever? I don't remember where I read that so someone correct me if I am wrong.

Just my thoughts. Katherine

 

[DeniseM]

How many Staroptions would the new unit be worth?

I wouldn't even consider the Starpoints in my decision - because the conversion rate is terrible and in general, it's not a good deal to convert to Starpoints (hotel points.)

What are your goals for using the new unit? Staroption exchanges? Would you ever use it yourself? Do you visit the US at least EOY?

 

[ellend]

Wow, I asked for quick replies and you don't disappoint. Thanks so much.

My timeshare needs have changed ie, sometimes I holiday with friends and sometimes solo, so the options would give me flexibility. I am unlikely to use the home resort any more, but would still want to get away to the sun. I think options would be more use to me than points.

They are offering 67,000 options and 32,000(ish) points.I think that's right.

Cheers,
Ellen

 

[pointsjunkie]

if it will get you into the SVN i think it is a good idea. it will also get you into II instead of RCI. so if you have traded before it will give you a whole new set of resorts.

 

[ellend]

I am about to be logged off, so I won't be replyingto any further comments until tomorrow morning. Thanks for your help so far.

Cheers,
Ellen

 

[DeniseM]

They are offering 67,000 options and 32,000(ish) points.I think that's right.

Cheers,
Ellen

67,000 Staroptions will get you an exchange to at least a studio in all Starwood locations. Will that be adequate for your needs?

In the sticky at the top of this forum you can find a list of all the Starwood locations, and a link to the Staroptions chart, so you can see what exchanges you are eligible for, with 67,000 Staroptions - Owner Resources

However, the 32,000 Starpoints will only give you 2 or 3 nights in a standard hotel room, so I wouldn't convert to points if I was you.

 

[somerville]

I own in Courts Section and have some queries.

Starwood have offered to buy back my two weeks for $13,000 to set against buying an every-other-year unit in Lakes. I would have to pay an extra $8,000 (figures rounded because I don't have exact figures with me). Bearing in mind age of Courts, they have an assessment of $1300 a week due and the fact that points/options would suit me better, is this a good deal? Or would I be better off just giving the units away?

The Lakes section they are offering are new (still being built) and I am more likely to use points/options to stay elsewhere.

Do I understand correctly that you will deed back two every year intervals at Vistana Resort and pay another $8,000 for an every other year (EOY) unit worth 67,000 Staroptions EOY?

Granted it is not likely that your two weeks are worth $13,000 if you were to sell them yourself, but I see two bedroom intervals at Vistana Villages worth 81,000 Staroptions every year sell on eBay for around $8,000. I understand that most of Vistana Villages is a mandatory SVN resort, while Vistana Resort is not. Owning at a mandatory SVN resort means greater resale value.

Would it make more sense to dump your weeks at Vistana Resort for whatever you can get for them and buy a resale mandatory SVN unit at Vistana Villages or another mandatory SVN resort? Of course, if you buy resale, you won't have the hotel Starpoints option.

 

[ellend]

Good point, I hadn't thought of that. I think that's what I'll do.
Well this is a good return for my TUG membership investment.

Cheers,
Ellen

 

[arlene22]

Do I understand correctly that you will deed back two every year intervals at Vistana Resort and pay another $8,000 for an every other year (EOY) unit worth 67,000 Staroptions EOY?

Granted it is not likely that your two weeks are worth $13,000 if you were to sell them yourself, but I see two bedroom intervals at Vistana Villages worth 81,000 Staroptions every year sell on eBay for around $8,000. I understand that most of Vistana Villages is a mandatory SVN resort, while Vistana Resort is not. Owning at a mandatory SVN resort means greater resale value.

Would it make more sense to dump your weeks at Vistana Resort for whatever you can get for them and buy a resale mandatory SVN unit at Vistana Villages or another mandatory SVN resort? Of course, if you buy resale, you won't have the hotel Starpoints option.

I agree. $8000 is too much to pay for eoy Lakes IMO. I paid $995 for an equivalent Cascades 2Bedroom on ebay. You are not likely to get much more for Lakes upon selling. Better idea to take the $8000 and buy a resale Every year Vistana Villages (make sure you are buying into one of the mandatory sections, not the voluntary ones). That way you will have an every year unit with more StarOptions. Just dump the other two on ebay with a $1 starting price. You will end up in a much better position than you would with the Starwood offer.

P.S. The lakes units are not new, they are being renovated, and there is an assessment associated with that. Did they disclose that to you?

 

[ellend]

Thanks for he tip on the Lakes assessment, no they didn't tell me.

But I am still confused, I have a question on another thread and it sounds as if resales only qualify for star options if you also buy a developer week.

Why do they have to make it so difficult if they are as good value as they say they are?

 

[pointsjunkie]

because they are in business to sell timeshare. if they gave away all the benefits they would not be selling too many developer weeks and then we would not have any resales to purchase. believe it or not we need each other.

 

[DeniseM]

But I am still confused, I have a question on another thread and it sounds as if resales only qualify for star options if you also buy a developer week.(

Hi again Ellend - have you had a chance to read the Starwood Article in the Owner Resources sticky? It has a good explanation of how this works.

To summarize, at 5 Starwood Resorts, resales DO come with StarOPTIONS - the ability to exchange within the Starwood Vacation network:

* Harborside Resort
* Vistana Villages (most sections)
* Westin St. John
* Westin Ka'anapali
* Westin Kierland Villas

At all the other Starwood resorts, resales do NOT come with Staroptions.

No resales come with the ability to convert to Starpoints (hotel points.)

People who are requalifying resale weeks are, for the most part, buying resale units that do NOT come with Staroptions, and requalifying them.

HTH!

 

[ellend]

Thanks everyone for all the time and trouble you have taken to help me. After sleeping on it for a couple of nights I have finally come to my decision.

I will dump my Courts weeks, they no longer suit my purpose and there is no value in them.
I won't buy in Lakes, if buying more timeshare suits me later, then that's when the decision will be made.

It is so helpful bouncing ideas around with people who know the ropes and can give unbiased advice. Thanks again.

Cheers,
ellend

 

[mharman]

about to recind my Starwood VV Orlando

Hi,
New to timeshares but here is my question. I bought (yesterday) a 2B annual TS for 25,900 (81,000 points at VV Orlando.

the big push is the hotel points. It seems from the posts i have read that the hotel points are not really that great. It also seems that to buy a requal it requires you purchase the resale and a new (from Starwood) and then you get 2 as if purchased from Starwood correct?

So the question is if i buy a mandatory SVV orlando (the same i just purchased) used the prices seem to be anywhere from $3,500 and up.
If i just got a starwood AMEX and cranked up some points each year would i basically have the same value? I would still be in II right?
Lastly are all TS in this category have MF of 1,000?

Sorry for all the questions

Regards,

Mike Harman

 

[LisaRex]

The big push is the hotel points. It seems from the posts i have read that the hotel points are not really that great.

True. Converting to StarPoints is almost never an economical choice. If they offer 32,000 StarPoints, you'd be giving up a week in your 2 bedroom villa. Here's what you could currently "buy" with your StarPoints:

10 nights in a Category 1 hotel
8 nights in a Category 2 hotel
5 nights in a Category 3 hotel
3 nights in a Category 4 hotel
2 nights in a Category 5 hotel
1 night in a Category 6 hotel
1 night in a Category 7 hotel, off season only

It also seems that to buy a requal it requires you purchase the resale and a new (from Starwood) and then you get 2 as if purchased from Starwood correct?

Yes, but there are stipulations, such as minimum purchase price from the developer purchase. Read the Requal sticky above for more info.

So the question is if i buy a mandatory SVV orlando (the same i just purchased) used, the prices seem to be anywhere from $3,500 and up. If i just got a starwood AMEX and cranked up some points each year would i basically have the same value?

In order to get 32,000 StarPoints, you'd have to spend $32,000 (non-Starwood) on your AMEX.

I would still be in II right?

Yes.

 

[rickandcindy23]

You should rescind before your time runs out and buy a RESALE week in the same resort, in an older part, and get the mandatory Staroptions.

I don't know much about this, am just looking into Vistana Villages for our own exchanging needs, and I think it is unwise to pay 3 times more for the same thing you can get on the resale market.

I just had to say it. Others will agree, I am sure.