Manor Club ... new low?

[pwrshift]

This one might set a record low....!

http://www.ebay.com/itm/Marriotts-M...&otn=3&po=LVI&ps=63&clkid=4358719499470348460

If I didn't own 3 weeks already I might be tempted!

 

[m61376]

wow- wonder what it will close at

 

[Larry]

I am not familiar with this Marriott resort but I looked at the listing and can't tell if this is a lockoff that can be split into two 1BR units or can it only be used as a 2BR.

 

[MOXJO7282]

This one might set a record low....!

http://www.ebay.com/itm/Marriotts-M...&otn=3&po=LVI&ps=63&clkid=4358719499470348460

If I didn't own 3 weeks already I might be tempted!

I'm in it to win it at $20!!

 

[windje2000]

I am not familiar with this Marriott resort but I looked at the listing and can't tell if this is a lockoff that can be split into two 1BR units or can it only be used as a 2BR.

Based on the representation in the ebay listing that the week is deeded as 1711, the unit is in the Patrick Henry Building of the original development, so it would be 2BR non lockoff.

LINK (not sure if login required)

IMHO, the original Manor Club is more attractive occupancy than the Sequel.

 

[pedro47]

What a great deal.

 

[KathyPet]

And if you read the entire ad it's a BOGO! What more could you ask for????

 

[mas]

And if you read the entire ad it's a BOGO! What more could you ask for????

WOW...two maint. fees for the price of one!!

 

[siesta]

Not a new low that should be a new standard

The seller is Uri Fried owner of The Timeshare Company. They list a lot of TS on ebay and often have errors in the listing so double check. That being said if they do mess up they do come through, or will make it right.

The BOGO offer is usually the type of timeshares you'd find in the TUG bargain basement, but picked clean of the few good deals.

Their timeshares listed on ebay are often poorly labeled and dont receive the maximum exposure, which is potential for very good deals. For example, this listing doesnt even mention Platinum in the headline keywords.

 

[JudyS]

Is Marriott actively exercising ROFR at this resort?

Also, the ad says Platinum is weeks 13-43 and 48-52. That's a long Platinum period! is it tough to get summer weeks at Marriott Manor? (As it is at Newport Coast Villas?)

 

[winger]

The seller is Uri Fried owner of The Timeshare Company. They list a lot of TS on ebay and often have errors in the listing so double check...

yes, for example the 2012 mf is listed as $1015 but is more around $970.

 

[rsackett]

Is Marriott actively exercising ROFR at this resort?

Also, the ad says Platinum is weeks 13-43 and 48-52. That's a long Platinum period! is it tough to get summer weeks at Marriott Manor? (As it is at Newport Coast Villas?)

I have never had a problem getting one.

Ray

 

[potchak]

yes, for example the 2012 mf is listed as $1015 but is more around $970.

Actually, $998 for 2012 still not bad for such a nice resort.

Is Marriott actively exercising ROFR at this resort?

Also, the ad says Platinum is weeks 13-43 and 48-52. That's a long Platinum period! is it tough to get summer weeks at Marriott Manor? (As it is at Newport Coast Villas?)

Never had trouble getting July 4th week to trade.

 

[thinze3]

And if you read the entire ad it's a BOGO! What more could you ask for????

Some of these auctions are MANDATORY BOGO. On this one you "have the opportunity" to get one free.

 

[EKniager]

$154.01 it is!

 

[timeos2]

Why ROFR isn't a plus

$154.01 it is!

I guess even ROFR isn't going to help the seller now is it? Another perfect example of why even a great resort can be sold for pennies and ROFR make no positive impact at all. With or without ROFR the seller gets under $200.

Someone got a wonderful buy. That is one of the great timeshare resorts (speaking of the resort itself - others may have better surroundings but few are equal in unit/resort quality to the original Manor Club).

 

[winger]

Actually, $998 for 2012 still not bad for such a nice resort.

....

Yes, you are right. I miscalculated.
I disagree with that this is not a bad MF, however. Like, why do they need $200+ for reserve funds when alot of upgrades have already been done?

 

[BocaBoy]

Yes, you are right. I miscalculated.
I disagree with that this is not a bad MF, however. Like, why do they need $200+ for reserve funds when alot of upgrades have already been done?

Because they need to start accumulating money for the next round. It needs to be accumulated over time. If it is not, then a huge special assessment in the future is the only option. I think $200 is actually a very modest reserve contribution.

 

[JudyS]

Thanks for the information on summer reservations, Ray and Potchak.

 

[timeos2]

Yes, you are right. I miscalculated.
I disagree with that this is not a bad MF, however. Like, why do they need $200+ for reserve funds when alot of upgrades have already been done?

Because those upgrades only last 5-7 years and the next ones will likely cost more. $200 is actually low for such a high quality resort. Holding reserve collections too low is an extremely common error at far too many timeshares. This type of short term thinking is one reason why it occurs. Hopefully the Board at Manor Club continues to be aggressive with anticipating future expenses. It is a positive for the owners and will help avoid any special assessments.

 

[BocaBoy]

I guess even ROFR isn't going to help the seller now is it? Another perfect example of why even a great resort can be sold for pennies and ROFR make no positive impact at all. With or without ROFR the seller gets under $200.

Of course ROFR does not help the seller if the developer seldom exercises ROFR. If they did on a regular basis, it might help a lot.

 

[timeos2]

Of course ROFR does not help the seller if the developer seldom exercises ROFR. If they did on a regular basis, it might help a lot.

Yeah, the developer as the owner gets nothing more.

 

[BocaBoy]

Yeah, the developer as the owner gets nothing more.

This answer makes no sense. I can't even tell what point you are trying to make. My point is that if ROFR were exercised regularly, some of these lowball offers would be higher because some purchasers would pay more than these ebay prices if they had to in order to get the unit. If ROFR is seldom exercised, buyers know that they can often get the unit with these very low offers.

 

[timeos2]

This answer makes no sense. I can't even tell what point you are trying to make. My point is that if ROFR were exercised regularly, some of these lowball offers would be higher because some purchasers would pay more than these ebay prices if they had to in order to get the unit. If ROFR is seldom exercised, buyers know that they can often get the unit with these very low offers.

University studies have shown that prices fall when ROFR is in play - not rise. So the only "winner" is/would be the Developer who gets cheap weeks to sell again. The seller gets only what was originally offered - the low price - and the buyer learns not to bid or to bid lower next time as there is a good chance the Developer will tire of the game before the general public does. That is backed up by the studies - the amount of willing buyer offer FALL when ROFR is in play.

 

[MOXJO7282]

University studies have shown that prices fall when ROFR is in play - not rise. So the only "winner" is/would be the Developer who gets cheap weeks to sell again. The seller gets only what was originally offered - the low price - and the buyer learns not to bid or to bid lower next time as there is a good chance the Developer will tire of the game before the general public does. That is backed up by the studies - the amount of willing buyer offer FALL when ROFR is in play.

This certainly doesn't make logical sense to me. If I'm a buyer that loses to ROFR I'm not going to just quit if I really want something. Its human nature I think that I'll look for others and begin the process again. I may even bid a little higher to win because I really want it.

The only thing I can imagine that would make me lose interest is if I keep losing to ROFR and the price went above my acceptable range before I could win.

That scenerio may not benefit the buyer but doesn't hurt the seller in my book.