Manor club resale prices down

[KathyPet]

It seems to me that Marriott resales would be in a much better position to sell a unit quickly then advertising it on various web sites. Goodness knows they have the marketing know how. Anyway as far as time to sell is concerned they listed my MBY in mid may and called me three weeks later to say that they were sending a contract out for signature. That purchaser changed his mind so no sale. Less than a week after the first sale fell through they had another contract and this one went through so total time from listing till a signed contract was received was about 6 weeks. That is pretty good in my book and I didn't have to lift my finger except to call them and send in the listing agreement.

 

[Jpollo]

I think you are pretty naive when you think that Marriott can't sell at the retail price. They do it all the time.

That was then this is now. It's not naive at all to think the Marriott might have trouble selling timeshares in this market.

I think MikeM132 was just voicing healthy skepticism.

 

[Jpollo]

Marriott can not exercise the ROFR because it's a bankruptcy sale. Marriott has to abide by bankruptcy laws and can not do anything to hinder the sale of the property.

Is that really true? Just curious as I've heard mixed things on this. Where did you get this information?

I read a post by a bankruptcy attorney who said that it's at the discretion of the bankruptcy judge - and although this attorney didn't know for sure, he thought that most judges would try to recognize ROFR (i.e. allow for the property to be auctioned quickly, but also allow Marriot to excercise ROFR).

 

[Big Matt]

Maybe my quote wasn't very clear.

I wasn't saying that sales would slow down. I actually believe that they already have slowed down (for about the last year).

I was pointing out that they weren't going to lower their price. They'll still get the profit margins that they want. On new development they have the ability to slow down the construction process and defer building later phases. On resales, their costs are very low, and don't forget that they already sold it once.

That was then this is now. It's not naive at all to think the Marriott might have trouble selling timeshares in this market.