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Overwhelmed with points and options

laarthur

Guest
Joined
Jan 23, 2021
Messages
20
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4
Resorts Owned
HGVC - West 57th
You guys have been incredibly helpful in the past and I am just overwhelmed at this point. We (me and my mom) own two of these:
West 57th Street, a Hilton Club
Check-in Day(s): Sunday
11,520 Points Platinum

When we got them, we had more flexibility to travel. We haven't been traveling much in the last few years and have a build up of points. We have 13,000+ saved with RCI and we didn't use any of our 23,040 hgvc points this year. All of the hgvc points will get banked for next year again and we're just not sure where to go from here. Maintenance fees are too high for us to keep carrying it over.

I've looked up prices on some of the brokerage sites, but are people buying W57? What do we do about the banked points? Do you guys have any suggestions?
 

alwysonvac

TUG Lifetime Member
Joined
Sep 11, 2005
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16,201
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3,985
Location
New Jersey
Resorts Owned
WORLDMARK, HGVC, VISTANA

SOLD (DVC, FSRC)
Banked and Saved points will eventually expire. See rules below.
I suggest reaching out to friends and extended family members to see if folks want to use any of your points that haven't expired.
It's better to gift them to friends and family than let them expire. They can simply cover the RCI exchange fee and guest certificate fee.



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If you're not using your ownership, it makes sense to sell it or give it away to a family member.
The two biggest expense is the initial purchase prices and the ongoing fees (maintenance fee, club dues and various transaction fees)

If you bought from the developer, you will not get anything close to what you paid for it. It's a buyer's market (more sellers than buyers).

You'll find resale prices all over the map:
  • Extremely high prices (from sellers with unrealistic expectation of gettting back their purchase price and/or falsely believing the value should have risen (not significantly fallen over time))
  • Middle of the road prices (from folks who have accepted that they need to be the lowest or one of the lowest if they're going to beat out the others for a buyer)
  • Extremely low prices (from desperate sellers who simply want out and/or 3rd parties that already made their money from folks who paid thousands to take it off their hands)
Try reaching out to one of the HGVC Resale brokers
 
Last edited:

letsgobobby

TUG Member
Joined
Dec 18, 2009
Messages
1,325
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713
Resorts Owned
HGVC - Lagoon, W57th, MarBrisa, Paradise
your 1 BR plat has excellent resale value. It will be much less than retail, if you paid retail, but you will be able to sell it.
 

laarthur

Guest
Joined
Jan 23, 2021
Messages
20
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4
Resorts Owned
HGVC - West 57th
your 1 BR plat has excellent resale value. It will be much less than retail, if you paid retail, but you will be able to sell it.
That's reassuring! Thank you! We're definitely not expecting much for resale, but we would rather sell if possible.
 

laarthur

Guest
Joined
Jan 23, 2021
Messages
20
Reaction score
4
Resorts Owned
HGVC - West 57th
Banked and Saved points will eventually expire. See rules below.
I suggest reaching out to friends and extended family members to see if folks want to use any of your points that haven't expired.
It's better to gift them to friends and family than let them expire. They can simply cover the RCI exchange fee and guest certificate fee.





If you're not using your ownership, it makes sense to sell it or give it away to a family member.
The two biggest expense is the initial purchase prices and the ongoing fees (maintenance fee, club dues and various transaction fees)

If you bought from the developer, you will not get anything close to what you paid for it. It's a buyer's market (more sellers than buyers).

You'll find resale prices all over the map:
  • Extremely high prices (from sellers with unrealistic expectation of gettting back their purchase price and/or falsely believing the value should have risen (not significantly fallen over time))
  • Middle of the road prices (from folks who have accepted that they need to be the lowest or one of the lowest if they're going to beat out the others for a buyer)
  • Extremely low prices (from desperate sellers who simply want out and/or 3rd parties that already made their money from folks who paid thousands to take it off their hands)
Try reaching out to one of the HGVC Resale brokers
Thank you SO much! You laid this out very well and helps clearly explain all the things I had swirling.
 

chapjim

TUG Review Crew: Veteran
TUG Member
Joined
Jan 10, 2010
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6,396
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4,015
Location
Fairfax County, Virginia
Resorts Owned
Wyndham VIPF & PresRes, HVC/DRI (Gold), Quarter House (4), Resort on Cocoa Beach (2), HGVC Tuscany Village, HGVC South Beach-McAlpin, HGVC Parc Soleil
It will take some effort but booking Home Week reservations and renting them might help offset maintenance fees. Look for event weeks/weekends in NYC and emphasize the difference between your 1BR unit and a hotel room (features and price). You might even make a buck or two.
 

ljmiii

TUG Review Crew
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NY, NY
I've looked up prices on some of the brokerage sites, but are people buying W57? What do we do about the banked points? Do you guys have any suggestions?
As @letsgobobby wrote, your W57 1BR Platinum week is valuable (though as with all HGVC deeds not worth anywhere near the retail price).

I just bought at W57 earlier this year on eBay, there were other bidders. But you can certainly use one of the reputable RE agents mentioned upthread.

Unfortunately, there isn't much you can do with banked points other than use them or make reservations for a friend/family member. You can only rent out Home Week reservations which have to be made using the current year's points and not those that have been borrowed or banked (saved in HGVC parlance).
 

4TimeAway

TUG Member
Joined
Aug 17, 2023
Messages
485
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324
Location
Woodland Hills, CA
Resorts Owned
Marbrisa, Kohala
Timeshares only work if they get used. Family members seem to feel better about timeshares after staying at one and they see what they get for what the MFs are. I'll probably just give mine away to family members, but I plan to changeup my holdings as my needs change.

With the RCI points, you could book some last-minute deals (<90 days) and take quite a nice trip or send someone on a nice trip. Someone would like that 2-3 week stay in the Caribbean, so better yet try to book 2 or 3 units and take the family on a memorable vacation.

I know not everyone can afford this, but I recall a trip in college where my grandfather paid for the whole family to go to Hawaii. We bought some food, rental cars, etc., but he paid for almost everything and a place to stay is big chunk of the expense.
 
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