blujahz said:
Hey Ken -
You may want to check the SVO documents - if I read them correctly, SVO does have the right to alter StarOptions.
Where? I just tried looking them up on starwoodvo and couldn't find anything. Is it available online?
Also - it is not only the cost of SOs, but also MFs. Plus the value of resale, rental, and trade/exchange of the unit/resort should be considered in this equation.
Err...ok, let's broaden the question! Of course, there are so many ways of justifying a particular purchase, for a particular purpose, that we are probably both 'right'.
WSJ is not new, and SOs are less - our 2Bd/3Ba 1250sqft Townhouse has only the same SOs as the studio side of the WKORV LO (500sqft) - yet it is relatively easy to get WKORV - and very difficult to exchange into WSJ.
Speaking for my own vacation plans, as I am able to travel during the off-season, this hasn't yet applied to me. That said, it probably will during the next year! Last year I was able to get either WSJ or WKORV during almost any week in April or May. Now that I've said this, I'm sure Murphy will visit and I won't get it when I want in 2007...
WSJ resale value for some owners has actually increased, and easy to get direct exchanges - plus rental values are high. Yet, exchange thru SVN is not desirable. WSJ (Hillside) are fixed weeks/units, and this complicates things.
In the last 12 months since I purchased my Platinum Kierland, the resale price appears to have increased $5,500 (see the other thread on Kierland resales). I would hope that WSJ would appreciate, especially now that they're building more there.
WSJ has its own advantages. For your purposes, buying there makes the most sense. You don't want to use the StarOptions to go to other resorts, so they're practically irrelevant for your use - since you only want to redeem them to go to WSJ! I think it's helpful to compare usage of your t/s to similar usage, or else this will be hard to evaluate. I bought Kierland to go anywhere within SVN, not just to go to Kierland. Different purposes.
Of course - there is the aspect of where one wants to vacation - St John is an incredible place (for us), but others may prefer a place like Disneyland (not us).
Exactly. And, I can't understand buying in Orlando, but that's another story (and unless one wants to always go to a Disney property, etc). I just searched Orlando for my brother's family, since they want to go later this year. Every Marriott was available for the weeks they are considering, along with Vistana, etc. And they are only about $550 for a 2-bed on II's getaway program. Anyway, back to the question at hand...
Many owners would love to exchange into St John (if possible) thru SVN exchange for very few relative SOs, but we bought there even though it is older, has special assessments, and low SOs because it is where we want to vacation, and if not we can direct exchange, rent, and possible resale for what we paid.
Well put. Again, different reason for purchase than I. I expect that I'll be happy going to WSJ once every few years, if not less frequently. And if/when my travel needs change, so will my t/s's.
And, I think it's worth noting again, the SO's for Cancun are also less than other new properties. And it may turn into the same type of demand that WSJ enjoys, and we'll discover that if you want to go there during a holiday you'll need to buy there. Even so, for those of us who travel off-season, it may be a great option to WSJ...