Looking for Opinion, Info Before Purchase [Wapato Point in Manson]

[71Ranger]

Hello,

We have the opportunity to get a free unit at Wapato Point in Manson. We usually rent a unit there every summer, so we're familiar with the resort and love going there. However, the maintenance fees are high ($2700/year) mainly because owners in the association are stuck with 4 weeks per year. Currently, we usually rent a good unit on the lake in the summer for $1500-1700/week going through Craigslist.

We would likely just go once a year in the summer. I need to check with the resort, but I believe Wapato is a resort where it's actually reasonable to convert to points (RCI does the conversion). I looked up how many RCI points the unit is worth, an it's a total of about 175,000 per year. The summer week itself is 62,000 points.

So I have a couple questions:

1.) If we convert the thing to points, what can I get with 110,000 points per year? Is that a lot? We like to go somewhere warm in the winter (like Arizona) and somewhere warm in the summer (in addition to Wapato). We are tied to a school schedule calendar for the next 10 years or so. We tend to take 4- 1 week vacations per year.

2.) Can I find out what Wapato timeshares have sold for recently? There are a lot for sale on Craigslist and through the realtor at Wapato and they are in the 5-10K range for the good units. The not so desireable units (Tennis and Lodge) are usually free, but we don't want one of those...we want to be on the lake. I'm trying to get a sense if getting this for free with no closing costs is a good deal to take advantage of. If it isn't, I don't mind not buying it.

Thanks!

 

[DeniseM]

Go to eBay

Search for the resort by name

From the menu on the left, select COMPLETED LISTINGS

That will show you actual SELLING prices - which is all that counts.

The last one sold for $1 - http://www.ebay.com/itm/Wapato-Poin...00665850335?pt=Timeshares&hash=item2eb89de1df

There is a lake front unit listed for $1 with free closing - http://www.ebay.com/itm/Wapato-Poin...00671245972?pt=Timeshares&hash=item2eb8f03694

 

[71Ranger]

Thanks for the response! If we do get this timeshare and convert it to RCI points will there be any issue reserving our summer week every year? We want to be sure we always get it.

Also, since the resort is on leased Indian land, I can't look up any sales records on the Assesor's website. Does anyone have any idea where I might be able to find some more sales history? The one that recently sold for $1 on eBay is in one of the associations that people frequently give away for free on Craigslist.

Thanks!

 

[aliikai2]

These just cost more than they are worth for 1 summer week

To spend the annual costs for 4 weeks, plus all the RCI fees, you will have over $3k per year to get one rotating summer week. These have intrigued me as we live in western Washington and would like to have a nice summer week on the lake, but the costs just don't work, I would keep renting your week when you want it, then get another trader week or points in either VI or WM, to fill in the other weeks.

Greg

Thanks for the response! If we do get this timeshare and convert it to RCI points will there be any issue reserving our summer week every year? We want to be sure we always get it.

Also, since the resort is on leased Indian land, I can't look up any sales records on the Assesor's website. Does anyone have any idea where I might be able to find some more sales history? The one that recently sold for $1 on eBay is in one of the associations that people frequently give away for free on Craigslist.

Thanks!

 

[ampaholic]

However, the maintenance fees are high ($2700/year)

I looked up how many RCI points the unit is worth, an it's a total of about 175,000 per year. The summer week itself is 62,000 points.

I have a portfolio that gets 213,000 RCI Points per year for a total MF of $1800 ish ($1817.65 this year).

So, I would pass on paying $900 more for less points - but it's your choice.

However, with that said:

To me the three important things to consider with RCI Points are:

1. Your home resort and home group matters - because - you get a 303 day booking window at all points resorts (good), but you get 304-334 days out at your home group (better) and you get 335-365 days out at your home resort (best).
For example we have Meadow Lake for a home resort where we like to go often, so I can book long before any non owners can. I can also often get a weekend there at the last minute.
I also have VV@P as a home resort (I have 5 home resorts) so I am grouped with all the Dailymanagement group and can get reservations 304-334 days out - before any other RCI Points members can (except the home resort owners).

2. Don't get too many points - I have 213K points every year and would actually like to have fewer (maybe 140K) - such is life.
Go here: http://www.rci.com/GPN/CDA/Common/pd...idsUpdate1.pdf
to see how many points you'll need to do what you want to do. You can always rent more points to fill out a vacation - but having extra can be an issue to use before they expire (but not as bad as a week you can't use IMO).

3. When you buy don't overpay: A real smokin' solid deal is less than a penny per point in MF's costs along with closing under $300 and this years points thrown in for for free. A resonable deal would be points @ a penny to 1.5 cents each in MF's along with $500 in closing and no free points IF it's at a resort you want for a home resort.