Now is the time to buy you first timeshare on EBAY

[icydog]

There will continue to be great buys on Ebay for timeshares, in large part due to the PCC's.

We recently picked up (two )every other year weeks at the Resort on Cocoa Beach.

Price with closing costs was under 1K.

Great deal-- congratulations!!!

 

[ronandjoan]

This was a dangerous thread!

Because of our addiction to timesharing, when I saw this thread, I read it and got on eBay and bought 2 more timeshare weeks!

I was hoping for a zero closing cost (we bought one a couple of years ago at our favorite - Telemark Pointe - for only $1 total) , but I did find 2 weeks, full one bedrooms at Puerto Vallata, one of our favorite places , for Presidents' weeks - both annual weeks for under 1K, including closing.

Friends are in PV for February every year so this was the time of year we wanted to go. She said Week 7 was always a little difficult to reserve for them, they had to be early.

 

[icydog]

Because of our addiction to timesharing, when I saw this thread, I read it and got on eBay and bought 2 more timeshare weeks!

I was hoping for a zero closing cost (we bought one a couple of years ago at our favorite - Telemark Pointe - for only $1 total) , but I did find 2 weeks, full one bedrooms at Puerto Vallata, one of our favorite places , for Presidents' weeks - both annual weeks for under 1K, including closing.

Friends are in PV for February every year so this was the time of year we wanted to go. She said Week 7 was always a little difficult to reserve for them, they had to be early.

Those President's Weeks should rent for a lot of $$$ in Mexico. Think about it--Spring Break -Mexico. They go together. The only problem is airfare. But if you rent it out that's someone else's problem. And if you use it, while you are sipping pina coladas at the bar, think about all those schnucks who paid thousands for the same week. Then you can grin!!!

 

[sfsailors]

3) WorldMark is not well run (increasing fees, reduced bonus time, reduced availability in general, dramatically increasing credits required for new resorts, etc, etc, etc)

Steve

-increasing fees

My other timeshare have been increasing faster than WM. WM MF is limed less than 5% a year.

-reduced bonus time
Is there any small indepent TS have bonus time?

-reduced availability in general
If you plan in advance( 13 months )you can book almost any place any week guaranteed.
-dramatically increasing credits required for new resorts
We buy present resort, not future resort.

The Mf is almost the cheapest, it cost just $548 for a 2bd redweek season, $384 for a white season and $274 for a blue season is hard to beat. If you buy more the marginal cost would be $412/$288/$206 respectively

 

[sfsailors]

And WorldMark is not cheap! I'd rather own Fairfield/Wyndham points for the money.

WorldMark is not cheap compare to Fairfield/Wyndham , but its MF is so low that you can recoup your investment in just a few years. Compare WM Southshore Lake Tahoe and Fairfield/Wyndham Southsore Lake Tahoe ( not cheap either). They are the same resort but the later's MF would cost almost double.

 

[ronandjoan]

Those President's Weeks should rent for a lot of $$$ in Mexico. Think about it--Spring Break -Mexico. They go together. The only problem is airfare. But if you rent it out that's someone else's problem. And if you use it, while you are sipping pina coladas at the bar, think about all those schnucks who paid thousands for the same week. Then you can grin!!!

I was hoping for this if we ever can;t go.

 

[travelhome]

WorldMark is not cheap compare to Fairfield/Wyndham , but its MF is so low that you can recoup your investment in just a few years. Compare WM Southshore Lake Tahoe and Fairfield/Wyndham Southsore Lake Tahoe ( not cheap either). They are the same resort but the later's MF would cost almost double.

I'm somewhat confused.

I thought MF is linked to the point package. The bigger the package, the higher MF is.

If these two are the same resort and you use points to stay at this particular resort, how much does it cost in worldmark point and in wyndham pont? Do you calculate the MF for that portion of the points and reach the conclusion that wyndham would cost you double comparing to worldmark?

Thanks a lot!

 

[sfsailors]

I'm somewhat confused.

I thought MF is linked to the point package. The bigger the package, the higher MF is.

If these two are the same resort and you use points to stay at this particular resort, how much does it cost in worldmark point and in wyndham pont? Do you calculate the MF for that portion of the points and reach the conclusion that wyndham would cost you double comparing to worldmark?

Thanks a lot!

Worldmark and Fairfield Wyndham are two different products, it's hard to compare pro and con which one is better. I use SouthShore, Lake Tahoe as an example because in this resort, half units belong to WorldMark and half belong to Fairfield (wyndham). Here is a brief number
With Worldmark, it cost you 8000/6000/4000 Wm credit for a bed room in red, white, blue season respectively, 10000/8000/6000 for 2bedroom and 12000/10000/8000 for three bedrooms, Cost of MF is 5.5 cents/per credit if you owned 10,000 or less than 4.6 cents/credit if you own more than 30K

Wyndham resort
1BR Deluxe from 105,000 quiet week, 154,000 value week, 175,000 high week, 238,000 prime week
2BR Deluxe 140,000 quiet, 203,000 value, 238,000 high, 324,000 prime
3BR Deluxe 189,000 quiet, 266,000 value, 300,000 high, 400,000 prime

Cost of MF is .31 cents per points if you homeresort is Southshore or more than .5 cent/point other. The MF would be 2-3 timesmore for Wyndham compare to WM

 

[Rent_Share]

Worldmark and Fairfield Wyndham are two different products, it's hard to compare pro and con which one is better. I use SouthShore, Lake Tahoe as an example because in this resort, half units belong to WorldMark and half belong to Fairfield (wyndham). Here is a brief number
With Worldmark, it cost you 8000/6000/4000 Wm credit for a bed room in red, white, blue season respectively, 10000/8000/6000 for 2bedroom and 12000/10000/8000 for three bedrooms, Cost of MF is 5.5 cents/per credit if you owned 10,000 or less than 4.6 cents/credit if you own more than 30K

Wyndham resort
1BR Deluxe from 105,000 quiet week, 154,000 value week, 175,000 high week, 238,000 prime week
2BR Deluxe 140,000 quiet, 203,000 value, 238,000 high, 324,000 prime
3BR Deluxe 189,000 quiet, 266,000 value, 300,000 high, 400,000 prime

Cost of MF is .31 cents per points if you homeresort is Southshore or more than .5 cent/point other. The MF would be 2-3 timesmore for Wyndham compare to WM

Curent Pricing of 10,000 WM 6000 - $ 6250

Current Pricing of Wyndam 230K ~$1400- 2300 + 500 closing costs

WM resale price is still slowly sinking
FSP seems to have hit bottom in resale pricing

 

[sfsailors]

Curent Pricing of 10,000 WM 6000 - $ 6250

Current Pricing of Wyndam 230K ~$1400- 2300 + 500 closing costs

WM resale price is still slowly sinking
FSP seems to have hit bottom in resale pricing

MF for 10,000WM point is S549
MF for 230K is $952-$1190 ( assume $4-$5 per 1K).
(it takes 324K for a prime week, not 230K)

if you are expect to live another 5 years, then WM is the choice.

 

[mamiecarter]

There are some fine independent timeshares on the West Coast

I just don't know what they are but Lake Tahoe is a good area to research and the Central Coast And the California mountains all have have had some very attractive weeks for sale cheap on EBAY. If I lived in California I would be spending my Fall weekends making road trips to check them out.

 

[S1C EM]

Looking at timeshares on ebay, I'm a bit overwhelmed. I pretty much understand what I'm looking at, but can anyone offer some pointers? What is a RED week? I got the idea it was a bad thing, but it looks like a good deal. Should I only consider deeded properties? Is the benefit no expiration?

Just looking for some shopping tips here!

Thanks!

 

[bnoble]

I pretty much understand what I'm looking at...What is a RED week?

All due respect, but no, you don't understand what you are looking at.

Take your time, read and learn. There is no hurry. It's very easy to buy a timeshare, but surprisingly hard to sell one.

My rules for buying a timeshare are:

1: It must be located within a day's drive (about 8-9 hours), at a resort I would be willing to stay at most years. If a points system, I must have booking rights at such a resort, with known good availability.

2: The week must reliably fall during school vacations for my area. If floating or points, I must have booking rights for that time, with known good availability.

3: The "carrying cost" must be less than I could rent the week for from another source. I compute carrying cost as 8% of the purchase price (incl. closing, etc.) plus annual fees. This must be less than renting, because owning carries more risk.

You'll be surprised at how few timeshares pass rule #3.

 

[Rent_Share]

All due respect, but no, you don't understand what you are looking at.

Take your time, read and learn. There is no hurry. It's very easy to buy a timeshare, but surprisingly hard to sell one.

My rules for buying a timeshare are:

3: The "carrying cost" must be less than I could rent the week for from another source. I compute carrying cost as 8% of the purchase price (incl. closing, etc.) plus annual fees. This must be less than renting, because owning carries more risk.

You'll be surprised at how few timeshares pass rule #3.

There was a Tug school of thought that you should include 20% (5 years) or 10 % (ten years) as annual depreciation assuming it probably would be worth $ 1 to transfer when it no longer met your needs

That would be 18 % - 28 %

Assume Rent 1200
Maintenance Fees 800
Difference 400

400/.18 $ 2,222 Maximum price at 10 years
400/.28 $ 1,428 Maximum price at 5 years

(all in including closing costs)


There is the school of thought that sunk costs will force you to use it, if all costs are variable you may choose not to vacation


There is not a timeshare sales presentation out there that assumes there is any depreciation of their product, any alternative use of the funds (carrying costs) and adding in the maintenance fees

Additional thoughts

Both rents and maintenance fees are subject to inflation you could get further into the analysis and adjust both add up all of your rents add up all of your costs the difference is the what you should be willing to pay


- Rents are controlled by market forces -

Mainetenance fees are "controlled" by the HOA or Management company hired by the HOA - Mine are capped but they mysterioulsly always are increased by the cap

 

[bnoble]

I like that depreciation model.

As an aside, I'm not a big fan of MF caps. It's always possible that some unforseen circumstances could increase market costs beyond the cap figure, and then the resort is left in the hole.

That said, there's a big difference between a developer-controlled board, and an owner-controlled one.

 

[baakfamily]

Looking at timeshares on ebay, I'm a bit overwhelmed. I pretty much understand what I'm looking at, but can anyone offer some pointers? What is a RED week? I got the idea it was a bad thing, but it looks like a good deal. Should I only consider deeded properties? Is the benefit no expiration?

Just looking for some shopping tips here!

Thanks!

I bought two timeshares (my first and second) from eBay this year. I bought a 2 br 2 ba Summer Bay Orlando RCI Weeks Gold Crown for $156 plus $399 closing and $650 2008 maintenance. I also bought an 59,600 annual RCI Points 2 br 2 ba Sheraton Vistana Resort (Fountains) Orlando Silver Crown for $650 plus $224 RCI transfer fee and $399 closing (2009 first use year). Both sellers worked for Vacation Innovations (look for email addressess ending in "vininc") and Timeshare Closing Services was used for both closings. I was very happy with both transactions and would gladly recommend both companies.

Join both TUG and Redweek.com (don't just be a guest) for full access to resort reviews and forums like this. They are endlessly useful for getting unbiased information on resorts you are considering purchasing at and for learning the ropes of timesharing. I should say mostly unbiased information. Some of the reviews from owners (or salesman wading in for self-serving reasons? hmmm.) seem to not jive with prevailing opinion.

Some things I learned about bidding on eBay. Put in your maximum bid in the last few seconds of the auction. Do not bid on more than one timeshare at a time, because if you win them, you will be expected to buy. Use the watch list to monitor those you are serious about.

Don't bid on a new timeshare until the auction you are currently bidding on is OVER. Reason, I bid on one timeshare and was outbid, so I bid on another. Then the high bidder on the first auction retracted his bid, leaving me as the high bidder. I was very afraid I was going to end up with two timeshare auction victories when I only wanted one. I would have backed out, as I figure I was a victim of a fishing scheme in which a seller works in cohoots with a "buyer" to flesh out peoples' maximum bids so that the auction closes with as high a bid as possible. They basically keep entering higher bids until they become the high bidder, thereby flushing out the highest max bid of other bidders, which are otherwise secret and not visible to the seller. Then they retract their bid, leaving the current bid sitting at the max bid of the highest legitimate bidder. This is highly against eBay rules, but it happens. Protect yourself by bidding only on one auction at a time and by entering your bid in the last few seconds of the auction.

One more very important tip. Don't rush. I researched on TUG and Redweek.com what timeshares met my needs and had high ratings so I could come up with a short list of timeshare properties to shop for. Then I watched eBay for weeks, keeping track of the winning bids for those resorts. Some popular resorts, like the ones I purchased, come up all the time, so don't worry about letting a particular auction slip away. While I was doing my research, I threw in the odd low ball bid here and there, and one of those was my winning Summer Bay bid. I also did better than the eBay average for my Sheraton Vistana purchase.

Resist the urge to chase a rapidly rising bid in the last minutes of an auction. Some people let emotion take hold and pay way too much (maybe they don't know that because they didn't watch any auctions for those resorts before bidding). Learn from watching what is reasonable for a given resort and decide from research what it is worth to you. Then enter its value to you as your maximum bid in the last minute of the auction.

There are lots of explanatory documents on the eBay timeshare store about timesharing. You may want to read them in addition to what you find here.

Good luck. I have no doubt you'll score a great buy on eBay if you are patient.

 

[EileenSRN]

Sunandsand,
Great post! Your method is right on. If I'm not mistaken, Starwood is taking "Fountains" into the SVN club. If you join that will give you Star Options to use internally. Vistana Villages, which is a Mandatory Resort usuallly goes for much more than Vistana sections. Congrats!
It is a good time to buy. I picked up 2 Vacation Villages Week 6 in Orlando and week 7 in Weston for under $500 each. Both are GC lockouts. By splitting them, I'm able to spend the month of Feb at great resorts for about $450 a week. Or have the ability to roam in the sunbelt for the same price.
Eileen
Congrats,
Eleen

 

[baakfamily]

Does anyone have more info on Fountains being invited to join SVN?

If I'm not mistaken, Starwood is taking "Fountains" into the SVN club. If you join that will give you Star Options to use internally.

I didn't know that. The resort only acknowledged my ownership a month ago, so I am still pretty new to Vistana ownership. I hear one of the benefits of SVN membership is annual membership in II included for $99 a year (I think I read that in one of the other forums here). I am an RCI Weeks and RCI Points member now, so it would be nice to add the additional options that a II membership would provide (particularly Marriott properties). Can anyone provide any other info on other Vistana sections (non-Lakes and non-Cascades) being invited into SVN?

I know many of the sections have just finished renovations after levying huge assessments against the owners (the previous owner of my unit paid $1200 in assessments this year, almost double my purchase price). Maybe that was what the Fountains HOA had in mind -- get the section up to snuff so Starwood would let them join the SVN club. I'll be happy if that is the case.

 

[icydog]

Janna, there is an entire Timeshare For Sale category on eBay. Once you've hit the page, you can select by all sorts of criteria to filter it down to what you're after.

Try this link: http://realestate.shop.ebay.com/ite...refZ1QQ_dmptZTimesharesQQ_flnZ1QQ_sacatZ15897

Dave

If you do a search for timeshare under all categories you'll see more timeshares for sale

 

[EileenSRN]

I think you missed the boat

When I went to StarCentral to find the newsletter I read it in, I discovered resale owners had to be the owner of record by Dec '07. Can you get into Star Central yet? I don't know if these links will work since they're behind the login.
http://www.starwoodvacationownership.com/joinsvn/enroll.jsp?IM=enews_svnenrollment_v2_i8_joinsvnenroll#detail

https://www.mystarcentral.com/newsletter/v2_i8/svnenrollment.jsp?IM=enews_email_v2_i8_svnenrollment

I am sorry I misspoke.
Eileen

 

[baakfamily]

When I went to StarCentral to find the newsletter I read it in, I discovered resale owners had to be the owner of record by Dec '07. I am sorry I misspoke.
Eileen

No problem. Thanks for the info.

It sounds like you can't join SVN if you are an RCI Points member either, which I am with my Vistana Fountains week. I just paid for a 5 year RCI Points membership, so I wouldn't want to pull out. Plus I've already been noticing benefits of having both an RCI Weeks week and an RCI Points week. Some options available on one don't seem to show on the other, or are most cost effective on one or the other. If I ever get a third week, I may look for something with SVN or II membership (which seems to come with SVN).

 

[Mjasp]

I see this person called ttimeshare on ebay who was selling a floating week in the Cascades section of Vistana every other week. The week sold for $550

I asked the seller 2 questions
1) For trading purposes only, What week is assigned tot his unit...NO ANSWER
2) Since Vistana is refurbishing all their units, was the assessment paid for this unit yet or would I be responsible? NO ANSWER