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Need Help: Should I buy at Elara, Las Vegas

T

Traveler23

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I attended a timeshare presentation last week and was offered a bi-annual studio unit (ELARA), 2200 points for $9K after discounts. MF will be about $850 every other year. Your thoughts? I was also considering a resale though Sellmytimesharenow.com, but want to know if they are a legitimate company. Thanks
 
Traveler23 said:
I attended a timeshare presentation last week and was offered a bi-annual studio unit (ELARA), 2200 points for $9K after discounts. MF will be about $850 every other year. Your thoughts? I was also considering a resale though Sellmytimesharenow.com, but want to know if they are a legitimate company. Thanks
Click to expand...
Closing costs at sell my timeshare are so high. There is ways an elara very close to free on ebay!

Sent from my SM-G892A using Tapatalk
 
Traveler23 said:
I attended a timeshare presentation last week and was offered a bi-annual studio unit (ELARA), 2200 points for $9K after discounts. MF will be about $850 every other year. Your thoughts? I was also considering a resale though Sellmytimesharenow.com, but want to know if they are a legitimate company. Thanks
Click to expand...

Both $9k and $850 MF are super-high for only 2200 points, IMO. You could get at, or close to, 7000 platinum points for less than that purchase price and maybe a smidge higher MF. Hard pass!!


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If I buy from the developer, they are also offering unlimited bonus weeks for $319 per week that can be used at other resorts. If you purchase from a reseller, will Hilton still provide these as well.
 
Oh no! Here's a list of "recently completed" Elara ebay auctions. Many times you'll see the asking price is still black (instead of green) because NO ONE was willing to pretty much accept it for nothing. Other times, you'll see the "completed auction" price was SIGNIFICANTLY lower than what they're offering you. And...if there are that many going up for auction, expect high delinquencies such that the payers will have to subsidize the non-payers (meaning ever-higher MFs).

www.ebay.com

Hgvc Elara for sale | eBay

Get the best deals for Hgvc Elara at eBay.com. We have a great online selection at the lowest prices with Fast & Free shipping on many items!
www.ebay.com
 
"Unlimited bonus weeks for $319"? Really? So you can stay at a resort the whole year round for a little more on average than about $1300 per month? Pretty low rate of rent if you ask me so that's pretty questionable. Maybe $319 for weeks that might be available (studio weeks when it's in the 50s in Las Vegas in the winter or in the 110s in the summer and the building is fairly empty). So it's not really "unlimited" but very much limited by occasional availability.
 
Traveler23 said:
If I buy from the developer, they are also offering unlimited bonus weeks for $319 per week that can be used at other resorts. If you purchase from a reseller, will Hilton still provide these as well.
Click to expand...
The only potential benefit from buying direct is the potential to earn elite status. That starts at 14000 points so do the math if it's with it to you.

Otherwise, you are far better off buying resale. No questions asked.

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Rule 1 - Salespeople might not be the best source of information.
Rule 2 - If it is too good to be true, it isn't

So you can book Christmas in Hawaii for $319 a week ? Sundance Park City, $319 a week ? Every year ?

I think the truth got a bit stretched - out past reality and around a n- dimensional corner and not quite all the way back.
 
I have a feeling those "bonus weeks" are from RCI and are usually "Last Calls"
 
1) Big mistake to buy from the developer on this.
2) See an estoppel and check things out carefully buying an Elara resale. You want to be sure the one you get is enrolled in HGV to yield points.

My next HGV purchase is likely to be an Elara resale.
 
I purchased an annual HGVC Studio Plus (3500 points) at Elara on eBay last year in March for $143.50.... seller paid closing costs and I had all 2019 points to use! All I paid was the $143.50 & the $669 activation fee (invoices by HGVC directly about a month after close). My MFs in 2020 are $661.28 + $182 annual club dues (which you pay every year even if you get an every other year deed, btw) which is $843.28. To be honest, I think you might be disappointed with only 2200 pts ESPECIALLY if it's every other year... but yeah, the deal above offered by Hilton is laughable. HARD PASS!

Btw, you can find maintenance fees for the HGVC resorts here:
tugbbs.com

2020 Hilton Grand Vacations Maintenance Fees

* Please limit this thread to only the MF specifics and take discussions/commentary to the discussion boards. Thank you! * Owners, please report your Weeks MF's as they are billed (NOT proposed/estimated) in this format: Resort Name/Unit Size Operating Fee Reserve Fee Property Taxes (or note...
tugbbs.com tugbbs.com
 
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Traveler23 said:
I attended a timeshare presentation last week and was offered a bi-annual studio unit (ELARA), 2200 points for $9K after discounts. MF will be about $850 every other year. Your thoughts? I was also considering a resale though Sellmytimesharenow.com, but want to know if they are a legitimate company. Thanks
Click to expand...

This is a terrible deal. You can do way way better on the resale market. I bought a platinum 7000 point annual Vegas unit last year for under $5k.
 
Yes you can do much better...There currently is a Paradise 7K point annual 2 bedroom plat ($980 annual MF) for $4950 from a reputable seller (Tochoa) on Ebay. These are very desireable units because of the low MF/point and I have never seen such a low price for this unit which usually sells for at least $1 a point ($7000). For almost half the cost of your developer deal, you can get at least 3x points ANNUALLY not EOY.

www.ebay.com

HILTON GRAND VACATION CLUB ON PARADISE, 7,000 HGVC POINTS, ANNUAL,TIMESHARE,DEED | eBay

Size: 7,000 Points or 2 Bedroom HGVC Points. Disregard Club Dues if you are already a HGVC Owner. Hilton Grand Vacations Club On Paradise. The relaxing setting of Hilton Grand Vacations Club provides a serene oasis within easy access to the best of Las Vegas.
www.ebay.com
 
Traveler23 said:
I attended a timeshare presentation last week and was offered a bi-annual studio unit (ELARA), 2200 points for $9K after discounts. MF will be about $850 every other year. Your thoughts? I was also considering a resale though Sellmytimesharenow.com, but want to know if they are a legitimate company. Thanks
Click to expand...
Thanks for all the feedback. It has really helped. I contacted a REMAX realtor (JK) who also agreed to "school" me on the TS resale market.
 
IrishDave said:
I think I'd wait until dust about any HGV buyout settles
Click to expand...

OTOH...uncertainty can result in lower resale prices. Even if a deal happened today, it will take years to take effect. These prices are lowest I've seen them.

Just look at the MVC acqusition of Vistana and Hyatt. After two+ years, still no change in policy or ownership for owners. Whatever happens policy-wise will be very slow.

The other question is whether the OP wants to wait? Depends on whether there is a rental premium for where OP wants to go. If Hawaii, then waiting means five years of rental cost savings foregone. Other locations, depend on the market conditions. If you own where you want to go and there is a rental premium for school breaks etc. there is little reason to wait because they cannot legally change your deed.
 
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CalGalTraveler said:
OTOH...uncertainty can result in lower resale prices. Even if a deal happened today, it will take years to take effect. These prices are lowest I've seen them.

Just look at the MVC acqusition of Vistana and Hyatt. After two+ years, still no change in policy or ownership for owners. Whatever happens policy-wise will be very slow.

The other question is whether the OP wants to wait? Depends on whether there is a rental premium for where OP wants to go. If Hawaii, then waiting means five years of rental cost savings foregone. Other locations, depend on the market conditions. If you own where you want to go and there is a rental premium for school breaks etc. there is little reason to wait because they cannot legally change your deed.
Click to expand...

Years. It is also part of the reason I'm focusing a little more on cheap acquisition cost vs maintenance fee, but also have justification that I can use the property itself.

I'm following the MVC Vistana stuff since that is what my parents own, especially as it is developer purchased so full benefits with Vistana.
 
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