Just bought today at Vistana

[BigLebowski]

Today I bought a 2 bed EOY at Sheraton Vistana Florida which I got rushed into as the Sales team told me the offer was only valid today. I did tell them I would feel more comfortable sleeping on it overnight but the incentives they were offering for today only were:
$12,250 (with $550 booking fee)
$333 annual maintenance fee
$133 StarOptions annual membership

In return my holiday is valued at:
76,000 star options or 32,000 star points

My incentive to buy was that I got a one off free:
76,000 star options and
50,000 star points
SPG Gold Card (I was told this was only being offered today)
12 Getaways a year

Having come back to my room to do some research and finding this forum extremely helpful I'm a bit annoyed with myself for being suckered into signing up on the spot. They told me I was only getting this deal as my Dad was an owner in Vistana and I was staying in his place.
I'm usually very cautious over stuf like this and told them that and asked them to allow me time to do the research, which I'm now annoyingly doing after the event.

From reading the forum it's clear that the value of the deal is dependent upon each individuals circumstances. Thus one of my main reasons for buying it was because I was told that this resort had the lowest option to dollar cost out of all the resorts and it would be easy to exchange for other resorts (ideally Hawaii, Caribean etc) as to be honest I would rarely want to come back to Florida. (I feel I've done Disney now for another 10 yrs). However, reading the topics on here it doesn't seem as though this is necessarily the cheapest and it's not so easy to exchange. Am I right in this assumption?

The one saving grace is that I was told about the 10 day cooling off period (as I was about to walk away from the deal) and I feel I have a few days until I leave to make my mind up and at least make sure I hand deliver my cancellation letter to them, if that's what I decide.

Your thoughts would be greatly appreciated on whether I'm getting a good deal or not.

Thanks in advance.

 

[Ken555]

Congrats on finding TUG in time.

Immediately rescind. Read the instructions carefully on how to do so, get copies of all written correspondence, and send via confirmed receipt (USPS, Fedex, etc) and fax (perhaps in addition to dropping off in person since you're on-site at the resort).

There are many, many options to get you the week you want for substantially less money. Rescind now and take your time on figuring out what to buy (on the resale market). Nothing sold direct by the developer is a good deal right now.

Good luck!

 

[AwayWeGo]

Rescinda-Sinda-Sinda.

Your thoughts would be greatly appreciated on whether I'm getting a good deal or not.

Get out of it while you can.

Nothing that the timeshare companies sell at full freight is worth the money, not even Vistana.

Buy timeshares resale. Save thousands of dollars on exactly the same thing, or the equivalent, or something even better.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[Ken555]

In return my holiday is valued at:
76,000 star options or 32,000 star points

This will get you a studio unit for a week in Hawaii, or three nights at a Category 4 hotel (which typically does not include any of the resorts any longer).

My incentive to buy was that I got a one off free:
76,000 star options and
50,000 star points
SPG Gold Card (I was told this was only being offered today)
12 Getaways a year

12 Getaways? What do they mean by this? Or, are they simply telling you that you may *purchase* "Getaway" weeks from Interval International? That's not a benefit by any stretch of the imagination.

SPG Gold Card is sent to all owners (though not all resale owners seem to get it). It's not that valuable and there are other ways of getting it if you really want it.

Basically, they sold you a week which would be $25,000 annually. I bought two Vistana Resort weeks last year for ~$250 each (one of them was $1), plus closing fees. You don't have to pay the refurbishment fee which just occurred, and you get SVN membership, but that's still a ridiculous price to pay for it.

 

[capjak]

Timeshares make for great vactions but buying from developer is not the best financial decision.


If this is Vistana resort your EOY can be purchased for $1 resale, but you will not get staroptions or starpoints.

If you bought the newer Vistana Villiages you can buy a "mandatory section" which will give you staroptions but not starpoints (resales do not get starpoiints) but an EOY will cost around $2000 for 81,000 staroptions.


Either way you should rescind imediately and study timeshares first.

There is so much to learn.

Cheers!

 

[James1975NY]

Today I bought a 2 bed EOY at Sheraton Vistana Florida which I got rushed into as the Sales team told me the offer was only valid today. I did tell them I would feel more comfortable sleeping on it overnight but the incentives they were offering for today only were:
$12,250 (with $550 booking fee)
$333 annual maintenance fee
$133 StarOptions annual membership

In return my holiday is valued at:
76,000 star options or 32,000 star points

My incentive to buy was that I got a one off free:
76,000 star options and
50,000 star points
SPG Gold Card (I was told this was only being offered today)
12 Getaways a year

Having come back to my room to do some research and finding this forum extremely helpful I'm a bit annoyed with myself for being suckered into signing up on the spot. They told me I was only getting this deal as my Dad was an owner in Vistana and I was staying in his place.
I'm usually very cautious over stuf like this and told them that and asked them to allow me time to do the research, which I'm now annoyingly doing after the event.

From reading the forum it's clear that the value of the deal is dependent upon each individuals circumstances. Thus one of my main reasons for buying it was because I was told that this resort had the lowest option to dollar cost out of all the resorts and it would be easy to exchange for other resorts (ideally Hawaii, Caribean etc) as to be honest I would rarely want to come back to Florida. (I feel I've done Disney now for another 10 yrs). However, reading the topics on here it doesn't seem as though this is necessarily the cheapest and it's not so easy to exchange. Am I right in this assumption?

The one saving grace is that I was told about the 10 day cooling off period (as I was about to walk away from the deal) and I feel I have a few days until I leave to make my mind up and at least make sure I hand deliver my cancellation letter to them, if that's what I decide.

Your thoughts would be greatly appreciated on whether I'm getting a good deal or not.

Thanks in advance.

The offer WILL be valid tomorrow. Trust me.

Did they also tell you that if you tried to sell your ownership tomorrow, you would be lucky to get $1,000-$2,000 for it?

There are plenty of opportunities on the secondary market that you can purchase for half the price and with more StarOptions. Sheraton Vistana Villages would be your best bet for the sales price.

They sold you a unit that may have the float and club capabilities but when you go to sell it.....the Buyer will be getting a fixed week and unit in a specific phase.

Where did you purchase? Courts, Spas, Palms, Springs?

In any case, SPG gold will be offered tomorrow as well.

Getaway weeks? I understand that you can do as many as your hearts content with the exchange company as long as they are available and you want to pay for them. Resort sales people tend to put a specific number on it to imply that there is some value to them. After all, if there was unlimited getaway weeks what good would they sound to you?

Here is what will NEVER transfer on the secondary market....
- SPG Gold status maintained (you can be an SPG member but you would have to earn Gold status)
- Ability to redeem your vacation ownership interest into SPG points.

There are five properties that you can purchase on the secondary market that WILL provide you with the use of StarOptions.
- Sheraton Vistana Villages (Bella and Key West phase)
- Westin Kierland Villas
- Westin St. John
- Westin Ka'anapali Ocean Resort (& North)
- Harborside.

I am guessing you will rescind.

 

[James1975NY]

The offer WILL be valid tomorrow. Trust me.

Did they also tell you that if you tried to sell your ownership tomorrow, you would be lucky to get $1,000-$2,000 for it?

There are plenty of opportunities on the secondary market that you can purchase for half the price and with more StarOptions. Sheraton Vistana Villages would be your best bet for the sales price.

They sold you a unit that may have the float and club capabilities but when you go to sell it.....the Buyer will be getting a fixed week and unit in a specific phase.

Where did you purchase? Courts, Spas, Palms, Springs?

In any case, SPG gold will be offered tomorrow as well.

Getaway weeks? I understand that you can do as many as your hearts content with the exchange company as long as they are available and you want to pay for them. Resort sales people tend to put a specific number on it to imply that there is some value to them. After all, if there was unlimited getaway weeks what good would they sound to you?

Here is what will NEVER transfer on the secondary market....
- SPG Gold status maintained (you can be an SPG member but you would have to earn Gold status)
- Ability to redeem your vacation ownership interest into SPG points.

There are five properties that you can purchase on the secondary market that WILL provide you with the use of StarOptions.
- Sheraton Vistana Villages (Bella and Key West phase)
- Westin Kierland Villas
- Westin St. John
- Westin Ka'anapali Ocean Resort (& North)
- Harborside.

I am guessing you will rescind.

BTW, many weeks that are on sale for the phases I mentioned above are selling for $1.00

 

[LisaRex]

Thus one of my main reasons for buying it was because I was told that this resort had the lowest option to dollar cost out of all the resorts and it would be easy to exchange for other resorts (ideally Hawaii, Caribean etc) as to be honest I would rarely want to come back to Florida.

You'll only have enough StarOptions to get a studio in Hawaii, Atlantis and St. John. And that's in theory. In reality, St. John is nearly impossible to trade into with StarOptions (why is a point of debate) and Harborside is only possible to get into during low season. Hawaii has been easier to trade into.

Bottom line is if you aren't content to go to Florida for 10 years, don't buy there. You can get way more SOs with a much cheaper mandatory resort. And nobody knows what the future of SVO will be. Honestly, I see absolutely no good reason to buy a TS right now, especially a Starwood one, when rental rates are lower than MFs. And if I did buy, it'd be with Marriott.

 

[Ken555]

You'll only have enough StarOptions to get a studio in Hawaii, Atlantis and St. John. And that's in theory. In reality, St. John is nearly impossible to trade into with StarOptions (why is a point of debate) and Harborside is only possible to get into during low season. Hawaii has been easier to trade into.

Lisa, you seem to think Harborside has the same SO chart as Hawaii.

To clarify, Harborside at Atlantis doesn't have studios. And they cost:

1bed: 37,000 for summer; 44,000 spring/fall, 67,100 winter
1bed premium: 44,000 summer, 51,700 spring/fall and 81,000 winter

Either of these units, except the premium 1 bed in winter, can be reserved for only 76,000 SOs. In fact, with 76,000 you can get a longer vacation there during low-season. I had 9-nights in a 1 bed earlier this year for only 55,000 SOs.

 

[BigLebowski]

Thank you all very much for your comments and I'm obviously going to rescind tomorrow. I'm just glad that I'm still here so that I can hand the letter to them in person and get them to sign for it. I feel like printing out the thread to show my seller but I guess I'll probably be quite dignified in my approach.
One of my main concerns having done a little research was that I always end up booking quite late which wouldn't be an option under this scheme and I also don't fancy, due to my work commitments, constantly ringing and checking to see if I've managed to secure a holiday.

James,

I purchased newly re-furbished Courts, but not until 2012 so that I didn't pay any of the re-furbishment costs.

Out of interest will I lose out some money with the exchange rate fees on my credit card or can I ring the credit card company to sort this out?

Again out of interest what are float and club capabilities? I was told that I could stay any week but when I looked at my documentation it said 'unit week 3' ?

Once again, thanks very much all for taking the time to reply. It's been playing on my mind all day !

 

[DeniseM]

Welcome to TUG!

Please read this Rescission FAQ and then let us know if you have any questions.

For lots of info. about how Starwood works, check out the Starwood FAQ at the top of the page.

After you rescind, you can take your time, do your research, and make a decision with no pressure. Right now you can pick up a Starwood TS in Florida for $1 - really, so thank goodness you found TUG in time! (I picked one up for free recently, myself!)

One of my main concerns having done a little research was that I always end up booking quite late which wouldn't be an option under this scheme and I also don't fancy, due to my work commitments, constantly ringing and checking to see if I've managed to secure a holiday.

Believe it or not, to get the most out of timesharing, you need to be able to plan 12 mos. in advance. If you need to make last minute plans, I don't think timesharing will work for you. In this economy, rentals are at an all time low, and may be the best choice in your situation.

I'm just glad that I'm still here so that I can hand the letter to them in person and get them to sign for it. I feel like printing out the thread to show my seller but I guess I'll probably be quite dignified in my approach.

Expect a barrage of objections & lots of pressure - I understand why you want to deliver it by hand, but it won't be pleasant. I would send it using the mailing method specified in the packet, get a return receipt, and avoid an unpleasant confrontation - but that's just me....

 

[LisaRex]

Lisa, you seem to think Harborside has the same SO chart as Hawaii.

Quite right, Ken. Thanks for correcting my info.

 

[BigLebowski]

Welcome to TUG!

Please read this Rescission FAQ and then let us know if you have any questions.

For lots of info. about how Starwood works, check out the Starwood FAQ at the top of the page.

After you rescind, you can take your time, do your research, and make a decision with no pressure. Right now you can pick up a Starwood TS in Florida for $1 - really, so thank goodness you found TUG in time! (I picked one up for free recently, myself!)

Thanks, I'm going to get it done first thing tomorrow.

Why are they so cheap? Is it due to the maintenance fees? Do you get options with it?

 

[DeniseM]

It's because of the economy - right now on ebay there are 200 timeshares listed for 1¢ - $100. People can't afford to travel, and can't afford to pay their maintenance fees so they are flooding the market with cheap and free resales.

With the resale I got for free, I did not get Staroptions - it is a Sheraton Vistana Resort week, which does not have Staroptions on a resale. I already own a week with Staroptions, and I don't use them, so that wasn't a problem for me. See the Starwood FAQ for a list of the resorts that do have Staroptions on a resale.

 

[jerseygirl]

Lisa, you seem to think Harborside has the same SO chart as Hawaii.

To clarify, Harborside at Atlantis doesn't have studios. And they cost:

1bed: 37,000 for summer; 44,000 spring/fall, 67,100 winter
1bed premium: 44,000 summer, 51,700 spring/fall and 81,000 winter

Either of these units, except the premium 1 bed in winter, can be reserved for only 76,000 SOs. In fact, with 76,000 you can get a longer vacation there during low-season. I had 9-nights in a 1 bed earlier this year for only 55,000 SOs.

Ken -- I think you have summer and fall confused.

A one-BR premium is 51,700 for summer and 44,000 for fall (hurricane season).
A one-BR deluxe (small side) is 44,000 for summer and 37,000 for fall.

 

[Ken555]

Ken -- I think you have summer and fall confused.

A one-BR premium is 51,700 for summer and 44,000 for fall (hurricane season).
A one-BR deluxe (small side) is 44,000 for summer and 37,000 for fall.

Yup, you're right! I'm just used to the SO chart showing summer as the lowest category... /sigh Thanks for pointing this out!

Cheapest SO exchange is during weeks 35-46 (summer is 28-35).

 

[LisaRex]

Thanks, I'm going to get it done first thing tomorrow.

Why are they so cheap? Is it due to the maintenance fees? Do you get options with it?

You'll only get options with resale mandatory resorts. My advice is to get the rescission plans in place, enjoy the rest of your vacation, and then plan on researching more when you return home.

There is absolutely no rush to do something now. The economy isn't going to miraculously heal itself over night.

 

[BigLebowski]

Expect a barrage of objections & lots of pressure - I understand why you want to deliver it by hand, but it won't be pleasant. I would send it using the mailing method specified in the packet, get a return receipt, and avoid an unpleasant confrontation - but that's just me....

I've just submitted my cancellation letter. I was passed to my original sales person and outlined the reasons why I was cancelling as per all your thoughts. He did try to tell me that I wouldn't have any problem booking alternative venues through Star Options and that buying on the resale market wont let me enter the Club.
To be fair once I told him ultimately I was uncomfortable making the purchase he passed me onto the Quality Control department who documented my concerns and stamped and signed my letter. Do you think I need to send a copy of the stamped letter through recorded mail aswel?

 

[James1975NY]

Out of interest will I lose out some money with the exchange rate fees on my credit card or can I ring the credit card company to sort this out?

Again out of interest what are float and club capabilities? I was told that I could stay any week but when I looked at my documentation it said 'unit week 3' ?

All SVO properties will have a deeded week and unit associated to the ownership. Because you purchased into SVN (Club), that week is not necessary that important to you for now because you have floating qualities. This means that you are able to reserve a week that best suites your vacation needs (based upon availability).

The week and unit number for a Courts unit WILL become important should the day come when you want to sell it. I say this because anyone purchasing your unit will not be able to get the benefits of the club program that you have access to and the ownership will revert back to a fixed week and a fixed unit. Basically, you will be selling a fixed week 3 which can be picked up on the secondary market for a few hundred dollars.

Not sure about the exchange rate situation with your credit card. Best recommendation would be to call your CC company.

 

[jerseygirl]

James -- I think it reverts back to a non-SVN floating week, deeded to week 3, not a fixed week.

 

[BLUE AYES]

FYI,

Vistana Villages, Bella section, 2 bedroom Platinum EY with 81K options can be had for $3000 - $3500.

 

[DanCali]

FYI,

Vistana Villages, Bella section, 2 bedroom Platinum EY with 81K options can be had for $3000 - $3500.

That would be a very good price. I've seen these go on eBay mostly for $3800-$4500, but you can get the 2BR Gold season (67,100 SOs) for around $1000-$1500...

Here are a couple of recent auctions for Prime season 2BR Bella:

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=110433918004&ssPageName=STRK:MEWAX:IT ($3851)

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=250494680302&ssPageName=STRK:MEWAX:IT ($4551)

I actually ended up getting a 2BR LO with 95,700 SOs. I like the idea of having the option to use a 1BR if I choose and use the other SOs elsewhere, or trade the other half into II - although trading power is probably minimal (anyone have any ideas on how a Prime season 1BR SVV or SVR trades on II?).

The 2BR LO have about 20% higher MFs (larger square footage too) and go on eBay for around $5700-$6500. I got mine from a prvate party for a number in the same ballpark - felt safer than dealing with the likes of redweeks4less.

 

[BLUE AYES]

Last week I purchased 2 2BD Bellas (81,000 SO) for $7,100 for both with all closing costs included. First purchase was an Ebay sale for $3,800 and about $450 in closing costs. I started talking to the sales guy and made a deal with Timeshares for less for a second identical unit owned by same people with a package price for both

 

[badpelican]

Rescinding @ Starwood

I ended up rescinding a Starwood timeshare on a recent trip to Maui last August. I just followed the instructions in the contract, and suprisingly I didn't get any hard sell for me to reconsider. Maybe one or two Starwood numbers showed up on caller ID, but never a message.

BTW if I havn't mentioned it before, Thanks TUG!

 

[DanCali]

FYI,

Vistana Villages, Bella section, 2 bedroom Platinum EY with 81K options can be had for $3000 - $3500.

Last week I purchased 2 2BD Bellas (81,000 SO) for $7,100 for both with all closing costs included. First purchase was an Ebay sale for $3,800 and about $450 in closing costs. I started talking to the sales guy and made a deal with Timeshares for less for a second identical unit owned by same people with a package price for both

Like I said, I think you got a very good deal if you have a use for both units and the StarOptions - probably a combination of good timing/luck with a relatively low purchase price on eBay, and a "multiple unit discount" (they are also probably closing both units in the same escrow). Even if you later realize you got carried away by buying two units, there is a reasonable chance you can "flip" one on eBay for a small profit (maybe higher profit if you list offline) and reduce the cost of the unit you kept...

The lowest price I've seen in the last few months for a 2BR SVV w/ 81K SOs is $3500 on a redweeks4less auction - I tend to discount those due to the seller's reputation (I wouldn't come close to doing business with them given what I read on TUG and other places).

By the way - most eBay sellers I've seen charge a $25 resort transfer fee on these units but SVV Bella actualy has no transfer fee...

Enjoy your purchase(s)!