If people would wise up and not buy for tens of thousands of dollars without doing some research this nonsense would come to a screeching halt.Somebody has to buy at the TOP of the narket
Of course, if the unit is a Weeks unit in RCI, you simply get to do a one for one trade.
I agree on the generational difference, in some cases cognitive decline in elderly is also a factor. When we went through my fathers papers he had several "work from home" kits and was getting constant telemarketer calls. My fatherinlaw was abused financially at Chase bank, he wanted to roll over his little CD nest egg and they bamboozled him into a money market account with hefty fees and no FDIC. He told me he trusted bankers at a brick and mortar versus the online ING savings account I recommended to him. We finally settled on moving it to a credit union.If people would wise up and not buy for tens of thousands of dollars without doing some research this nonsense would come to a screeching halt.
Of course that's a big "if" and I will never understand how people think the product is worth the price the developers are asking.
I think the younger generations are pretty savvy about checking things out on line and steer clear of TSs because of all the scam warnings out there.
The older generations for the most part, not so much. Just my opinion with nothing at all to back it up.
The Marbrisa will go up a lot. Also, all those properties cost over $1,000. to transfer. So, that needs to be considered along with the selling price. It might sell for $5K, but it will take another grand just for the transfer fee.http://www.ebay.com/itm/251296589325?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2649
Sitting a $ 2200 Now
Without the Hilton Conversion
Under $ 100
:rofl:Still 9K is not a bargain
My point was that generally speaking the non elderly are more reliant on the Internet and would find the $9,000 unit rather than pay the $33,000.... So, they might find a week for $9,000, buy it, and then try to resell it for $33,000. A smart shopper won't pay that, but about the best deal around for a summer week will be about $10,000 for a 1 bedroom. ...
Of course we need the developers to build and sell the properties but my problem with them is the difference they charge for timeshares compared to normal condominiums. If people would just take a deep breath and do a little math they would see that the prices for 1/50th of a unit should not cost what they are charging. This is leaving 2 wees per year for maintenance which I'm sure all developers don't do.2) For those of you constantly complaining about the developers, please, please, tell me how these properties would have ever been built without them ? I keep hearing that anyone who buys from a developer is stupid ! I have never had anyone yet tell me how these deals would have occurred without the original buyers getting them from developers....
If this was directed at my post I never said anything about any age group being more financially savvy than the other. Just my observation that the younger people will check things on line more than the older folks do. (I'm also in this group.)3) Old people are not smart financially ? Wow ! I'm in that group, and I've run a profitable business for 32 years. I'm not dependent on anyone to help me out because I planned appropriately. As for the younger generation being financially savvy, that simply has not been my observation. When they get to be our age, we'll see what they say. I do know one guy who is 90 and still buys timeshares ... but they are all resales at super low prices. The one thing about our generation is we earned our money, saved it, and now can spend it to enjoy these years. Its true there are thieves out there who will seek out the elderly and prey on them, but shouldn't we go after them rather than be critical of those they victimize ?
Get real! If everyone was as smart as you then Developers could not get away with lies, stealing, scamming, etc. People are not "talked into" purchasing a time share, they are brutalized, lied to, shamed, defrauded, bribed, coerced, you name it.1)
2) For those of you constantly complaining about the developers, please, please, tell me how these properties would have ever been built without them ? I keep hearing that anyone who buys from a developer is stupid ! I have never had anyone yet tell me how these deals would have occurred without the original buyers getting them from developers. I also think its sad that people say they were "talked into" something. I've done "tours" and had absolutely no hesitation at saying NO.
I hear you- years ago we bought from an owner a unit at Seacastles in Ogunquit, ME for fixed week for Labor Day. We paid $6500 and it was worth it - it is our favorite timeshare, MF are $222 a year and we go every year. It is a huge unit with a bay window and we have a dinner with a bunch of friends and everyone fits easily. We see all our family in the two weeks we are there.I'm astounded ( sort of ) at the prices.
I own on the SoCal coast. I have a 2 bedroom week 32 and just added a 1 bedroom ( same week ) for $ 9,000 resale. Before anyone submits that's not a good deal, I did my homework, and it was actually a very good deal. This is a property with an ocean view, beautifully maintained, very comfortable, and we are talking about a fixed summer ( highest season ) week. There are almost no units available on the independent market, and this is about as low a price as I've seen. We vacation here every year, and wanted the additional unit so our kids can now bring their families together ! ( Just pointing out how any decision should have some thinking behind it ).
For the person who wondered about trading value, I also have a floating week 2 bedroom I use for trading ( or sometimes stay at my home resort a second week ) It gets 68,500 points on RCI. I can usually take 2 or 3 vacations per year on that number of points, so trading can be quite good. You should be able to learn what the unit is worth on RCI, and then see what that will get you in trades. Don't look at the glossy catalog. Do an online search of whats available. Just because its in the book doesn't mean you will ever see it available. Of course, if the unit is a Weeks unit in RCI, you simply get to do a one for one trade.
Now to the relevant stuff regarding this post. I spent some time in Sedona at Los Abrigados last week. It costs us 18,500 points for a week, but we only stayed 3 nights. We were there 3 years ago and took the tour for some free train tickets. Of course we didn't buy but we heard lots of promises about how the new owner, Diamond International, was going to make sweeping changes. They even showed us a model of a refurbished unit. We didn't bother with the tour this time, but saw some people on it. They want in excess of $ 20,000 for their units, but you can buy resales for nearly nothing ( or just agree to take on the maintenance )! In addition, none of the promised changes have been made, and the rooms have not been refurbished. The rooms are still not good ( the kitchen area is unusable ) and the main pool was closed ( In the heat of the summer, leaving only the kids pool available). We can tell they are not doing well because the vacancy rate is high and services are very poor ( but the people at the desk always smile). Even so, the CEO of DI has a tape running all day long on the TV's ( default channel when you turn it on ) talking about how responsive they are, and all the improvements underway at their resorts. I felt sorry for the people on the sales tour because we know from experience these sales people are quite pushy. I hope they were only there to get free tickets to attractions.
So, my point in all of this is that not all places can be obtained for the $1 some people like to claim, but also most are not worth the prices the sales office would like you to pay. Nobody MAKES you buy anything, or enter into any transaction. My pat answer to a pushy sales person is "the more you try, the less likely I am to purchase what you offer. I'll go home, do some research, think about it, and get back to you." If they reply the deal is only good today, I respond, "Then your answer is a firm NO !"
Take your time, do your research, find out the current market price on the place where you want to go, and then make your decisions based only on what works for you. Also, for get all the promised extras. They are only worth the value of the paper used to print those certificates.
Thanks, I looked at the letter about rescinding in my contract and it says I fill it out and sign.
Thanks, I looked at the letter about rescinding in my contract and it says I fill it out and sign.
It says mail or deliver.
This means I can just deliver it myself correct?
I live close, so driving would probably be simpler than sending everything back.
Yea, I figured about scanning all documents into my computer, and making copies of the notice of cancellation letter they included in my packet.You need proof of sending, in the case of personal delivery, that would take the form of an affidavit of service, the receipt for certified mail is simpler.
If you don't want to pay the postage on their binder, drop that off
:rofl:Get real! If everyone was as smart as you then Developers could not get away with lies, stealing, scamming, etc. People are not "talked into" purchasing a time share, they are brutalized, lied to, shamed, defrauded, bribed, coerced, you name it.
There is no way in Hell anyone can take a $300K condo and slice it into 50 Intervals and make it worth some $1,500,000 any more than turning coal into gold. The only beneficiary is tax assessor and Developer who gets life time sweetheart management contract!
Really no different than scammer buying a shell oil, uranium, etc. company and touting stock to suckers and bailing when reality sets in.
No one can show that giveaway deals would be available if Developer had not scammed thousand of poor victims to buy something that is essentially worthless and forced to dump.. So, what is your point?
How many Tuggers can you name would purchase from a from a Developer?
Hey, some people can afford millions for cars, paintings, sea side mansions etc. . It only costs a little more to go first class, think it was J P Morgan who said.
Or was it, where are the customer's yachts, only Developers?