Lake Tahoe Vacation Resort by Diamond

[bevans]

A friend of mine is considering a purchase of this resort from an acquaintance. The unit is a 2bdrm lock off for about $2200 plus closing costs. I only own HGVC so know nothing about Diamond so please inform me if there are seasons or if price is reasonable. Thanks, Curt

 

[jlp879]

I don't see very many for sale on Redweek, where I find the price a little more realistic than what I see on sites like SMTN. This 2/2 is an EOY and they're asking about the same as friend is being offered. I would think she could do a little better, like negotiate the closing costs, etc.

I think all the weeks are floating 1-52, but I don't own there, so I don't know for sure.

 

[Fried_shrimp]

Is it an even or odd numbered unit? Odd numbers face the lake. Even numbered face the mountain and the McDonalds.

A 2 bdrm L/O is a nice sized 1 bdrm unit with balcony and a smallish Studio with no balcony. Resort is very nice with indoor/outdoor pool, gym, BBQ area. It is right on Lake Tahoe. Walking distance to a large number of restaurants and the gambling in Stateline is about a 10 minute walk.

 

[Rich S]

Ok, there is a lot to unpack here. I own a two bedroom lock off unit there. Advise your friend to read all the fine print and restrictions of their contract prior to purchase. There are some great benefits but also some not so great things too. First the great benefits: Location, location, location! The resort is literally right on Lake Tahoe. You walk out of the resort and make a right turn and you are at the lake. You are right in the heart of the strip in Lake Tahoe with everything in close proximity. The two bedroom lock off can actually turn into 14 nights per year. You can book one unit on one reservation and book the other on a separate reservation for two separate vacations if you like. You can also split weeks. It is Friday, Saturday, Sunday and Monday through Thursday. If you did this and split your unit you could stay at the resort four different times during the year. This is great since I only live 2 hours away.

Now, the not so great: Lake Tahoe is a very desirable destination year round. Because of this, booking can be tight and almost no existent if you wait until the last minute or are trying to book popular times. The week is floating so you will have to compete against others for that time unlike a fixed week.

All in all I am very pleased with my acquisition of Lake Tahoe Vacation Resort. I am interested to see what changes if any will occur with the HGVC sale.

 

[ConejoRed]

In the process of buying what was described as a 2 Bedroom Lockoff Annual 1-52 Floating week. They have not sent the estoppel yet and we will not proceed until it is received but the draft deed they sent only identifies the week as:

Interval Number: 1U 004 40W
Interval Type: Universal Annual

It is also described as "A 1/9486 undivided interest in and to Parcel 4 as shown on that certain parcel map filed in the Office of the County Recorder of the County of El Dorado, State of California, on May 1, 1996,..."

Just trying to confirm that this is a traditional float week and that we will be able to book 1-52 weeks without regard to "season". Our intention is to use this week and we do not want points, but I have seen a number of other postings here about deeds being converted to points after the fact and it then not being a true "deeded week" and to be careful on how this is transferred. Again, I will not move forward until I see the estoppel but thought those familiar with this Resort may know how to "read" type of unit description this may be and if this is how they classify the old traditional week's inventory at this resort.

 

[Rich S]

In the process of buying what was described as a 2 Bedroom Lockoff Annual 1-52 Floating week. They have not sent the estoppel yet and we will not proceed until it is received but the draft deed they sent only identifies the week as:

Interval Number: 1U 004 40W
Interval Type: Universal Annual

It is also described as "A 1/9486 undivided interest in and to Parcel 4 as shown on that certain parcel map filed in the Office of the County Recorder of the County of El Dorado, State of California, on May 1, 1996,..."

Just trying to confirm that this is a traditional float week and that we will be able to book 1-52 weeks without regard to "season". Our intention is to use this week and we do not want points, but I have seen a number of other postings here about deeds being converted to points after the fact and it then not being a true "deeded week" and to be careful on how this is transferred. Again, I will not move forward until I see the estoppel but thought those familiar with this Resort may know how to "read" type of unit description this may be and if this is how they classify the old traditional week's inventory at this resort.

As stated above, I own a two bedroom lockout annual 1-52 floating week. I am not looking at my paperwork right now, but what you have listed looks very familiar. I have a traditional week and you can book without regard to season. However, be warned people complain about availability or lack thereof. I was very concerned with this before I bought it. I did my research, asked around, and even went to visit there and asked other owners. In my opinion, if you book early enough you will get something decent. Lake Tahoe is very desirable in the summer and Winter so those times will usually be hard to get last minute. Mud weeks are available but even those can be hard to come by because there is so much to do there.

Also be aware that if you do purchase the old traditional week, if and when you go to the owner update they will try and tell you that what you have is outdated and not really beneficial for you. They will try and get you to convert to points which allows you utilize more of the other resorts. They gloss over that you have to buy into these points and the maintenance fees are going to be higher as well. I am very pleased with my acquisition and I have no regrets at this point. We have stayed there twice, once in the summer and once in the winter. We thoroughly enjoyed ourselves each time.