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Pocono Mountain Villas Exploria Special Assessment $6300 dollars! Summer Bay Next?

TUGBrian

TUGBrian

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Whew, thats a hefty assessment for a resort that was likely unsellable in the first place...and not only no exit program offered by exploria owners who contact them for help in ending their ownership are referred to an upfront fee resale company! (note this one was for 2024, but i see other owners reporting getting another one for 2025!)

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also fun to see the ARDA "voluntary" contribution included by default with no way to remove or instructions on how to opt out!

is there a worse grade you can give for a company than an F? if so, exploria gets it.
 
*edited to add - summer bay was the resort the owner claims to have JUST gotten a new special assessment for!
 
So... should I be glad Exploria transferred my Gaitlinburg Town Square to Capital Vacations? I would walk on a SA like that on a basically free TS I picked up.
 
agreed, id expect delinquencies at this resort to skyrocket.

summer bay too if its a similar amount (waiting to get a copy of that one)...and that is likely the flagship resort for exploria.
 
On the bright side now exchanging into The Reserve at Summer Bay will be easier for a lot of RCI traders
 
jp10558 said:
So... should I be glad Exploria transferred my Gaitlinburg Town Square to Capital Vacations? I would walk on a SA like that on a basically free TS I picked up.
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That's one option. In 2019-20 at a different resort I hung on and paid a few smaller assessments. When the resort was finally liquidated, the paid-up owners received substantial checks.
 
jp10558 said:
So... should I be glad Exploria transferred my Gaitlinburg Town Square to Capital Vacations? I would walk on a SA like that on a basically free TS I picked up.
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There's a first time for everything!
CV likes to portray themselves as wearing the white hats.

Is Cerberus pulling the plug on Exploria?
An assessment 5x the annual MF indicates some serious mismanagement. An avalanche of defaults could force a liquidation ... maybe that's the point.
 
Why is the "Grand Total" only $8 and not the total of the MF + SA + ARDA? Also, I think the bill shown above was for 2024 and owners are now getting notified of another for 2026? (not 2025)
 
dioxide45 said:
Why is the "Grand Total" only $8 and not the total of the MF + SA + ARDA? Also, I think the bill shown above was for 2024 and owners are now getting notified of another for 2026? (not 2025)
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That is what I thought as well. The statement date was Nov.2023 for the 2024 fees. The original poster on Facebook did say 'another one' so that one may be the old one and he doesn't have the paperwork for the 2026 one yet.

Still, that is quite a large amount! Even worse if there is another equally large one to come! :eek:


~Diane
 
I think we need to be careful. I recall someone on one of the Facebook groups posting something about a large assessment for Grande Vista (or another Florida resort). It was fake. They were an timeshare exit company scammer trying to somehow convince people that they needed to utilize their services.
 
Ive still yet to have anyone from summer bay send me an email confirming a large assessment for that resort for 2026, though it is only August and I honestly would not expect the 2026 budgets to be finalized for another month or so? Summer bay is in Florida, as such any vote on a special assessment would have to be announced to all members of the association so perhaps that is what this poster got?

though admittedly an association wouldnt be allowed to vote for an assessment for "next year" without an approved budget for that year... ie a special assessment is only to be used to cover a shortcoming in the annual budget for that year. Without an approved budget, there would be no way to calculate what that shortcoming is (or more importantly, that shortcoming should be addressed IN the budget itself)

that would be a much more reasonable explanation....we shall see what the 2026 statements look like when the start arriving to clear things up! perhaps if its just a proposed assessment it wont get passed, but I doubt the board would announce it, or a special meeting to vote on it...to choose to NOT vote for it.
 
and confirmed a 7500 dollar assessment for summer bay! had an owner forward me the statement today!
 

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and page 2... how nice they gave people 60 days to pay 6x your annual dues!
 

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TUGBrian said:
and confirmed a 7500 dollar assessment for summer bay!
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It's actually $7750, but you can get a 10% discount if you pay early.

Does Summer Bay have multiple HOAs? Does this only apply to one of them (Lakeside Homes)?
 
Does anyone know how much they're raising / how large these resorts are? That seems pretty ludicrous to me - are they rebuilding from scratch or something? Or is it just expecting almost no one is going to pay?

Not knowing anything really, I have trouble imagining any refurbishment running say $300,000 per unit (assuming / pulling out of my ass $90k in defaults / non payment of the SA in a more normal sense).

On a more personal WAG sense, I have trouble seeing paying more than 1 years annual dues as a SA - if I was inclined to not walk away because there was a SA. But this level both makes little financial sense I think, but also would make me very concerned about how messed up the management / finances must be to even come close to this being needed. I.e. - this feels to me like the resort isn't in a downward spiral so much as a freefall.
 
dioxide45 said:
It's actually $7750, but you can get a 10% discount if you pay early.

Does Summer Bay have multiple HOAs? Does this only apply to one of them (Lakeside Homes)?
Click to expand...
i thought the address was odd too since summer bay is in orlando?

but i dont know of any other summer bay resort within exploria and it clearly indicates its an exploria resort on the back. What I dont get is how they get away with being so extremely vague about what the assessment is for? We have to spell out exactly what budget item is short, and the assessment can ONLY be used for its intended/stated purpose.

I have a call with someone next week that can hopefully provide some theories on what might be up with exploria.
 
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