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Just bought EOD 5800 pts retail.......Pacific Palisades

Mpstan

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and at end of presentation we were thinking of going to 5800 pts yearly (just short of $20K) to get 10,000 bonus points. Basically 1 gold week 1 bedroom, for roughly $19,000. We rented a week at Pallisades, hence the presentation.

We were aware of the secondary market but were led to believe that there were serious disadvantages to this route. Other than missing out on Elite rewards are there ny other problems? Also not sure we would use a kitchen enough to go the condo route. We really like the San Diego area; may need to consider programs offering more luxury hotel like venues...

Based on recent ROFR, how much have we overpaid? What's the recision period in CA?

Other thoughts?


Thanks everyone
 

ThierryJapan

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Elite

Elite starts at 14000 points, elite is good if you travel a lot and also use Hilton hotel

Now I am sure you can find your week for less than 2000 usd on the resale market. But what is the most important is the maintenance fees that you will have to pay for many years, I am not sure how much it wil be in your resort but you should look at the efficiency of maintenance fees cost per points you have

I have bought from the developers and buying from resale, but it comes down how much you are ready to pay in mf vs renting

And as many will say, maybe you should buy resale
 

amtuguser

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IMHO read your contract, follow the rescission rules exactly, buy resale, and use the saved money on anything else.

Live happily ever after.
 

Talent312

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IMHO read, your contract, follow the rescission rules exactly, buy resale, and use the saved money on anything else.
I concur. HGVC is generally a consumer friendly system ('cept for its clunky reservation system), but its TS salesmen are sharks. As the saying goes: "How do you know a TS salesman is lying? ... His lips are moving."

OTOH, you may be one of those fortunate souls who has money to burn, so hey, whatever floats your boat. But I must ask, what is "EOD?" Is it anything like "EOY?"
 

channimal

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Other than the elite benefits there are zero issues buying/owning resale. I wish I had known then what I know now :D

Rescind and shop around.
 

Mpstan

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But....

Doesn't the location of where you bought your points have bearing on where you can reserve 12 months ahead, as opposed to 9 months for all other properties? * * *If you buy resale points and commingle them. How does that work? *

Also, if anyone can recommend brokers that are well versed in the San Diego/Carlsbad markets that would be helpful...... We do love the area and are willing to commit to a TS but obviously have more to learn.....

thank you again
 

Passepartout

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It is my understanding that the MF is based on the location of the owned resort. And that 'points are points' when it comes down to reservations.

Seth Nock and Judy K (here in TUG) are the most reputable HGVC resale brokers you could ask for. fairest prices and experience with shepherding them through ROFR.

It's your money, but for me, getting the same thing for $2k-$4k that the developer wants $20k for is not chump change. For the price difference, I can imagine a lot of 'status' while sitting on the patio with a glass of something cold and refreshing.

I advise rescission now. If, after studying the alternatives at leisure, you still want to buy retail, that deal will still be available. You just will be making an informed, rather than a rushed decision.

All the Best

Jim Ricks
 

Remy

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I concur. HGVC is generally a consumer friendly system ('cept for its clunky reservation system), but its TS salesmen are sharks. As the saying goes: "How do you know a TS salesman is lying? ... His lips are moving."

OTOH, you may be one of those fortunate souls who has money to burn, so hey, whatever floats your boat. But I must ask, what is "EOD?" Is it anything like "EOY?"
EOD = Every Other Decade?

I think we should all come up with a copy/paste for rescission advice. It all ends up the same anyway: Rescind. Read more on TUG and other sources. Buy resale if HGVC works for you. Paying retail makes no sense (unless it's a platinum and you plan on immediately selling it to me for pennies on the dollar).
 
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Mpstan

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EOD Stands for every other day; meant EOY

Sorry for the typo. Will try contacting the two recommended people via their usernames (if that's what they are)
 

DeniseM

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Sorry for the typo. Will try contacting the two recommended people via their usernames (if that's what they are)
Honestly, you don't want to do anything to delay rescinding - these folks are reputable brokers, but you don't need a broker today - you need to RESCIND today!

Right now, comb through your paperwork and follow the instructions to rescind without delay. If you miss the deadline by just one day, you will be stuck.

Here is an article about rescinding - I wrote it for another resort, but all the basics apply to you - http://www.tugbbs.com/forums/showthread.php?t=74493
 

Remy

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I can't vouch for JudyK's username, but Seth Nock is his. Here's a link to his website from his profile: http://www.sellingtimeshares.net/ I think they work together from what I gather.

Jim
I don't think they work together in the sense it's the same firm. In the sense they're both real estate agents who will take commissions from a buyer and a seller, yes.
 

Passepartout

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I don't think they work together in the sense it's the same firm. In the sense they're both real estate agents who will take commissions from a buyer and a seller, yes.
I was not exactly sure whether or not there was a relationship, only that both have good reports here in TUG for fair dealings.

Jim
 

gnorth16

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I don't think they work together in the sense it's the same firm. In the sense they're both real estate agents who will take commissions from a buyer and a seller, yes.
If either agent doesn't have what you are looking for, they can either go to MLS or HGVC resale and check out their inventory. When I bought (through a non Seth/Judy agent) I believe they went to HGVC resale for inventory.
 

csxjohn

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and at end of presentation we were thinking of going to 5800 pts yearly (just short of $20K) to get 10,000 bonus points. Basically 1 gold week 1 bedroom, for roughly $19,000. We rented a week at Pallisades, hence the presentation.

We were aware of the secondary market but were led to believe that there were serious disadvantages to this route. Other than missing out on Elite rewards are there ny other problems? Also not sure we would use a kitchen enough to go the condo route. We really like the San Diego area; may need to consider programs offering more luxury hotel like venues...

Based on recent ROFR, how much have we overpaid? What's the recision period in CA?

Other thoughts?


Thanks everyone
The thing to remember about rescinding is that no one on this forum will tell you that you got a good deal and don't rescind.

Take the advise you've been given and act immediately if not sooner. Then, as has been suggested, you can go back and get the exact deal later if that's what you decide.
 

SmithOp

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and at end of presentation we were thinking of going to 5800 pts yearly (just short of $20K) to get 10,000 bonus points. Basically 1 gold week 1 bedroom, for roughly $19,000. We rented a week at Pallisades, hence the presentation.

We were aware of the secondary market but were led to believe that there were serious disadvantages to this route. Other than missing out on Elite rewards are there ny other problems? Also not sure we would use a kitchen enough to go the condo route. We really like the San Diego area; may need to consider programs offering more luxury hotel like venues...

Based on recent ROFR, how much have we overpaid? What's the recision period in CA?

Other thoughts?


Thanks everyone
GPP has a resale department, were these resale prices or were they selling you a new unit at MarBrisa? TheWizz on here has purchased resale units direct from GPP and got them into HGVC with elite credit if that is important to you. Owning here gives you 12 month booking and day use (parking and common areas), useful if you live in CA..
 

rgong

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In case you didn't get the message ... RESCIND!

I think we should all come up with a copy/paste for rescission advice. It all ends up the same anyway: Rescind. Read more on TUG and other sources. Buy resale if HGVC works for you.
Agreed, we need a sticky.

Paying retail makes no sense (unless it's a platinum and you plan on immediately selling it to me for pennies on the dollar).
'Cept you'd never see it since Hilton would jump in and buy it back ;)

I believe Judi K's user name on tug is Judi Kozlowski and her website is judikoz.com. Do a search on her site, she probably has some GPP listings. At least she did about a year ago when I was in the resale market.
 

Remy

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Elite starts at 14000 points, elite is good if you travel a lot and also use Hilton hotel
I can agree Diamond (or Gold) in the Hilton HHonors system is good and very useful to me as a frequent traveler, but to pay the enormous markup for an HGVC unit (or two to get 14,000 points) just to get Gold HHonors status isn't a good value. HHonors Gold starts at 16 stays per year so a frequent traveler would already have this status without paying the enormous markup. A non-frequent traveler would be better off paying for breakfast and internet for two lifetimes of traveling 15 stays or less per year rather than paying the HGVC retail markup. I'd even suggest mattress runs would be less expensive to achieve and hold this status over paying the extra money to HGVC for 14,000 points. To give you an idea of the markup, the "best" HGVC could do on a Karen Ave. Vegas unit was $38,500 just a few months ago. That's for 7,000 points. The same unit would sell resale for $12,500 and beat ROFR without a problem. That's $26,000 difference for 7,000 points. Multiply by two to get 14,000 points at a $52,000 markup over resale. For $52,000 one can buy a lot of really nice perks at a Hilton, Conrad or Waldorf Hotel. And the paid-for perks are guaranteed. Room upgrades with status are not guaranteed.

Here's what Elite gets you:

Elite
14,000 ClubPoints

- Gold HHonors status
* 25% bonus on HHonors base points
* complimentary internet
* bonus points or
* space-available room upgrades
* free breakfast
- $39 online HGVClub reservation fee (instead of $49)
- 10% Open Season cash discount
- Priority and exclusive resort access
- No reservation fee for 7-night stays during Club and Open Season reservation periods at any Hilton Grand Vacations resort
- Special resort access with 12 month reservation window
- Direct 800 number
- Special Elite Member check-in desk at select Hilton Grand Vacations resorts
- Elite designated door key
 
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DeniseM

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EOD = Every Other Decade?

I think we should all come up with a copy/paste for rescission advice.
Like the one in post #11? ;)
 

Remy

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Most of those listings on her site are quite old and no longer valid.
Seth keeps his internal listings updated at sellingtimeshares.net. You'll find many realtors use the same system as Judi K so they aren't all her listings (sort of an MLS). I'm sure she keeps her stuff updated but others may not be as diligent, or place something as for sale to generate interest from a prospective buyer who the agent might sell on something else. If you look at the bottom of the listing on her site you'll see who the listing broker is for the unit.
 
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I can't vouch for JudyK's username, but Seth Nock is his. Here's a link to his website from his profile: http://www.sellingtimeshares.net/ I think they work together from what I gather.

Jim
Hi,

My name is David Van Norman, and I work for Seth Nock at Selling Timeshares, Inc. just wanted to state that Judy is actually from another firm and thank you so much for recommending Seth!

Our About Us page shows all names of our agents. http://www.sellingtimeshares.net/selling-timeshares/about-us/

David Van Norman
Selling Timeshares, Inc.
david@sellingtimeshares.net
 

hsintang

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Honestly, you don't want to do anything to delay rescinding - you need to RESCIND today!

I "bought" a TS week from a developer ~15 years ago. There was no smart phone then, but I found TUG after I 'researched' online after I got back to my room. I RESCINDed the next day through a certified mail and was never regret. Tug had been one of the best resources for my timesharing experiences since:cheer:
 

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Yes we have finished the rescind paperwork. CA must make them supply a cover sheet that is quite easy to complete. I like the advice earlier for our next step.... Do nothing.

We're back to the drawing board. Our kids were a bit bored around the resort so I think we want to widen our scope to include being nearer beaches or a downtown. Anybody here familiar with the Wyndam system? A few more venues up by us in in Washington......
 

Passepartout

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