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Just Purchased in Lakeshore Reserve - Mistake?

Swice

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lockoffs

I'm not clear on something:

Some units at Lakeshore are new "super" lockoffs. That would give you TWO "one bedrooms" to trade with Interval.... not a "one bedroom" and a "studio."

A true "one bedroom" would pull better than a "studio."

What kind did Kenny buy?
 

m61376

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Kenny- With the extension of the sale I would think you'd be making a huge mistake not to rescind. And, before anyone jumps down my throat, it is not because I am jumping on the rescind and buy resale bandwagon, although I do think that you can do much better in the resale market.

The very fact that you are still questioning your decision tells me you are not convinced that it is the right one. For most people, 22K is somewhere between a tremendous amount and a significant amount of money, and you should be reasonably confident of what you are buying before spending it. It seems to me that you still have more to understand and should take at least a few more weeks to understand it.

Off the bat, there are a few things, besides the price, that bother me wrt what you want and what you've purchased. Foremost is you don't really seem interested in using it. Another thing is that the places you want to trade into are all hard properties to get so you want to have a strong trader. Lakeshore will be brand new so it will likely be a fabulous trader for the first two years, but then it won't be so brand new and it will still be in Orlando. I am not so sure that it will consistently get you into peak weeks at top resorts, especially as the kids get older and you want that 2BR in Maui, Caribbean, etc.. Better traders can be bought elsewhere resale for less money.

I haven't sensed that you really looked into whether or not you want to be able to trade for points. I am not going to argue with you to buy resale if you feel you will avail yourself of that opportunity and make good use of it, and that it makes sense to you financially. There are other threads which you can easily read through that discusses that issue. But- unless you know enough about trading for points that you feel paying extra is worthwhile for you and your family, you should hold off buying.

Rescind now, call or e-mail the salesperson if you'll feel better (although that's not necessary) and tell them you need a few more weeks to reconsider, and take the opportunity to learn more about things.
 

kenny1975

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I did not buy one of those "deluxe" 2 bedrooms - just the standard 2 bed lock off...

BTW everyone - I just negotiated a resale at St. Thomas (gold) for $10,800 with 1 year maintenance and all closing costs included. Gold is the time that we can travel there in the summer...with the kids. We'd actually use this resort at least every other year...

Please chime in... :banana:
 

gmarine

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I did not buy one of those "deluxe" 2 bedrooms - just the standard 2 bed lock off...

BTW everyone - I just negotiated a resale at St. Thomas (gold) for $10,800 with 1 year maintenance and all closing costs included. Gold is the time that we can travel there in the summer...with the kids. We'd actually use this resort at least every other year...

Please chime in... :banana:


Much better than 22K for Orlando. Wise choice.
 

applegirl

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That is certainly a better price at a great resort. Keep in mind it's not Platinum though, so your trading power won't be as great and you said you really wanted to exchange into different resorts. Resale weeks are not going anywhere, I don't think you should rush into any purchase right now. Make sure you buy what you wil be happy with in the long run.

St. Thomas in the summer every other year sounds great, I just hope the trading power will be good enough for your needs.

Cheers,
Janna
 

gmarine

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The gold and platinum designations relate to Marriott only. They dont necessarily apply to trading power with II. St Thomas Gold season will more than likely trade better than Orlando platinum because of the abundance of Orlando timeshares compared to the low supply of St Thomas timeshares.
 

LisaRex

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Certainly owning at a high-demand resort where you'll visit most years makes more sense than buying in Orlando. I'd never buy in Orlando because most weeks you can scoop up a Marriott or Westin TS via II Getaways for less than you'd pay in MFs. If you don't know what those are, they are excess weeks available to all II members for cash.

For instance, there are currently summer weeks available at Marriott's Grande Vista, Cypress Harbour, Harbour Lake, Sabal Palms and Sheraton Vistana Resorts for $72/night (studio) to $111/night (2 bdrm). That's less than you'd pay in MFs and you don't have to spend $22k to purchase it either. You simply have to belong to II.

A few cautions about St. Thomas:

1) I own a TS in Maui that is dependent on flying to get there. Currently flights are reasonably priced. That may not always be the case, as we learned in 2007/08. If airfare doubled, would you still take the wife and kids to St. Thomas every other year? Had we not been able to book award seats with frequent flyer miles, it would have cost us $4400 just to get the 4 of us to Maui last summer.

2) A lot of TripAdvisor reviews write negatively about St. Thomas because they believe there is an undercurrent of racism on the island. From talking to local St. Johnians when I visited in January, some of that criticism is warranted and some is not. While some of the TA reviews are overly dramatic, recent unrest in Martinique and Jamaica suggest that what tension does exist will only worsen as the downturn in the economy takes its toll on these islands which are largely dependent upon tourism.

Good luck to you.
 
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