Resale market cost for SVO 2 BR LO Platinum

[GrayFal]

I've also never heard of Kierland Platinum for selling under $20k, and have asked on more than one occasion for first hand experience with that. I haven't seen anyone speak up about that (am I wrong?) yet more than one of you thinks you can find it under $20k. I don't get this - I'm trying to talk about realistic prices, not wishes.

.

FYI - on ebay - starting price 16K
http://cgi.ebay.com/ws/eBayISAPI.dl...MEWA:IT&viewitem=&item=170059347005&rd=1&rd=1

(this is not my week and I do nt know the seller)

 

[tomandrobin]

FYI - on ebay - starting price 16K
http://cgi.ebay.com/ws/eBayISAPI.dl...MEWA:IT&viewitem=&item=170059347005&rd=1&rd=1

(this is not my week and I do nt know the seller)

Week 37, not platinum and only worth 81,000 staroptions.....not a good price in my opinion.

 

[GrayFal]

Week 37, not platinum and only worth 81,000 staroptions.....not a good price in my opinion.

...I am only learning :ignore:
Thanks for your opinion - I was wondering about the low point value.

 

[ketamine]

"a) looked at the much touted TUG database. This appears to be useless as it has six entries in 2 years."

This has been a HUGE disappointment to me as a new TUG member !! Any hopes of newer info??

 

[ketamine]

BUT - if they were to do deeper research (e.g. found a complete resale database on TUG) -

Please tell us how one can find a complete resale database on TUG??? I would be so grateful to discover this.

thanks
mk

 

[DeniseM]

"a) looked at the much touted TUG database. This appears to be useless as it has six entries in 2 years."

This has been a HUGE disappointment to me as a new TUG member !! Any hopes of newer info??

TUG has no paid employees - it's all volunteer. TUG has over 16 thousand registered users, many owning multiple weeks - a comprehensive data base of all sales/purchases would be an overwhelming task.

Your best bet for current information is members in specific areas (like Starwood owners) who follow sales on various online websites.

 

[Robert D]

If you're looking at a voluntary resort like SDO or SMV, I think you can probably get a better deal buying two 1BR's. Usually the small 1BR goes pretty cheap and I think the MF at SDO for a 2 BR (all are lockoffs) is the total of the two 1BR's. I assume you could reverve both for the same week and request two units together if you need a 2BR. I don't know if this plan holds true for the much more expensive mandatory resorts.

 

[eugeneleemd]

kierland resale

just got 2 offers from diff realtors for the WK 2 bed plat annual (148100 so pts) for 22k and 550 closing. will see if i can play them to get closer to 21k. does it seem like a reasonable deal?? thx, have learned a bunch from this forum

 

[eugeneleemd]

WK

down to 20750, don't know how much lower i can get them to go.

 

[DavidnRobin]

down to 20750, don't know how much lower i can get them to go.

That is a very good price - I would jump on it if it meets your needs - the $550 closing costs are a bit high....

 

[eugeneleemd]

update

so, i'm taking the WK at 20750. apparently the two realtors were representing the same seller (still managed to get from 22500 to 20750, ironically). thanks again for suggesting what a great/good price was for this property. btw, also bought a westin k-north 2 bed EOY for 17k, does that seem like a reasonable price for the new property?

 

[DeniseM]

so, i'm taking the WK at 20750. apparently the two realtors were representing the same seller (still managed to get from 22500 to 20750, ironically). thanks again for suggesting what a great/good price was for this property. btw, also bought a westin k-north 2 bed EOY for 17k, does that seem like a reasonable price for the new property?

We have seen every year, 2 bdm., ocean view units, at the WKORV go for as low as $31K, so that price is right there in the ball park. What's the view?

 

[eugeneleemd]

wk-north

its for an oceanview

 

[DavidnRobin]

so, i'm taking the WK at 20750. apparently the two realtors were representing the same seller (still managed to get from 22500 to 20750, ironically). thanks again for suggesting what a great/good price was for this property. btw, also bought a westin k-north 2 bed EOY for 17k, does that seem like a reasonable price for the new property?

By this do you mean that you bought an EOY 2Bd LO at WKORV-N (not WKORV) for $17K? If so, then this is an incredible price no matter what the view is! However, are you sure it was the WKORV-N (that hasn't even opened yet?) or WKORV?

I ask this because the your price is aligned with WKORV - and not WKORV-N. The WKORV-N prices are much higher than this - so if someone did sell this to you, then they took an extreme (and unnecessary) loss since the EY IV at WKOTV-N ran about $47K (I say ran because they are sold out).

What was the address of the resort for the EOY week that you bought? This will confirm what you bought. I have seen many instances where WKORV was advertised as WKORV-N (because they are both located in North Ka'anapali).

 

[eugeneleemd]

well, i asked the lady twice, since she had advertised under the older WKORV, and she said it was for the new north side, hence wouldn't be avail til 2008. will have to check the deed when it comes in. i think they had to unload to help their kids pay for college.

 

[DeniseM]

By this do you mean that you bought an EOY 2Bd LO at WKORV-N (not WKORV) for $17K? If so, then this is an incredible price no matter what the view is! However, are you sure it was the WKORV-N (that hasn't even opened yet?) or WKORV?

With these two properties side by side, don't you think that resale prices will eventually be about the same for both? Why would anyone want pay a LOT more for a resale at the WKORVN, if they can buy resale at the WKORV for less? It's a good deal, but if you are looking at the resale value, we've seen resales for a little less at the WKORV.

Actually, I HOPE resale prices are high at the WKORVN, because it should jack up resale prices at the WKORV!

 

[califgal]

I think the WKORVN units are situated better on the property so more units have a pool view. Also the buildings might be in a better position on the property to block the wind( I've been to WKORV when the wind was wild!) rather than acting as a wind tunnel like at WKORV. Also aren't the 2 bdrm lockoffs actually joined by a lock off door rather than the separate entry in the common hallway? Just a few thoughts on why it might be more expensive in the long run. Also a more elaborate pool area, although we're suppose to be able to have access, Starwood can change their minds, or maybe it will be up to the association.

 

[DavidnRobin]

With these two properties side by side, don't you think that resale prices will eventually be about the same for both? Why would anyone want pay a LOT more for a resale at the WKORVN, if they can buy resale at the WKORV for less? It's a good deal, but if you are looking at the resale value, we've seen resales for a little less at the WKORV.

Actually, I HOPE resale prices are high at the WKORVN, because it should jack up resale prices at the WKORV!

I hadn't thought of it like that - but that is a brutal loss for a brand new resort that isn't even open. Seems as if WKORV-N should be higher just based on that they are newer - and SVO is still actively selling - but I guess you are right - why pay more? (Unless you want a LO that is connected by a common door, a flat screen TV - or...)

Mark this as another reason to buy resale - sure hope the seller got lots of incentive points - or maybe they just bought to requal a resale to get to 5* Elite. :hysterical:

 

[DavidnRobin]

I think the WKORVN units are situated better on the property so more units have a pool view. Also the buildings might be in a better position on the property to block the wind( I've been to WKORV when the wind was wild!) rather than acting as a wind tunnel like at WKORV. Also aren't the 2 bdrm lockoffs actually joined by a lock off door rather than the separate entry in the common hallway? Just a few thoughts on why it might be more expensive in the long run. Also a more elaborate pool area, although we're suppose to be able to have access, Starwood can change their minds, or maybe it will be up to the association.

I agree that there are certain aspects of WKORV-N than WKORV that are better. However, there are things about WKORV that may be better for some. I would hold up the OF Deluxe unit in comparison to the OF at WKORV-N. The MFs are about the same, but ours is bigger, is a true OF, it has a much larger lanai (both sides) - has large windows on the side (with great light and a panaromic view)
[this is a big minus at WKORV-N - IMO - they could have put large windows on the sides of the buildings - especially with the angled units, but for some reason choose not to]

WKORV-N also sits back further from the ocean - and seems a bit closer to the highway. But there are definitely less bad unit locations at WKORV-N.

Disclosure - we rescinded our OF at WKORV-N (~$70K!!!!) when we got home and found TUG - and why we bought OF - even with a $20K premium - we were feeling fortunate just to have saved ~$20K.

Anyway - we actually prefer the foyer (vs. the common door) even with the wasted space. We have no need for a common door, and we like the separation and privacy that the foyer gives (or just bring door stops).

WKORV-N's design may block the wind somewhat - but the whole sloped area of north Ka'anapali is windy. WKORV is situated with low level buildings to the south with protected open space - WKORV-N will be sandwiched between two resorts with liimited open space (wash).

 

[eugeneleemd]

wkorv or wkorv-n?

so the address she listed on the contract is the 6 (wkorv) instead of 170 (wkorv-n), but the unit number is 736566, which is the newer property. so i guess i'll have to wait and see the deed.

 

[DavidnRobin]

so the address she listed on the contract is the 6 (wkorv) instead of 170 (wkorv-n), but the unit number is 736566, which is the newer property. so i guess i'll have to wait and see the deed.

I would not wait for the deed - call SVO Title Services - I will send the phone number (if you can't find it). Call them - tell them the situation - and ask which resort is this for.

 

[eugeneleemd]

success

so called a sales rep and found out its for the new north property, whew. now that i have 2 resales, which property is the cheapest developer in order to requalify later on (for elite status, don't plan on ever using as starpoints) and how much do they run?

 

[skim118]

well, i asked the lady twice, since she had advertised under the older WKORV, and she said it was for the new north side, hence wouldn't be avail til 2008. will have to check the deed when it comes in. i think they had to unload to help their kids pay for college.

Welcome to Starwood & based on the deals you are getting I am glad for you.

Bargains for Tuggers are clearly disasters for others; we purchased a Worldmark membership last year that was originally sold in 1999, financed at 14% and was used by the purchaser only twice in 5 years.

I do feel a bit sorry for the sellers who get into Timeshares without fully comprehending the financial consequences. Timesharing industry truly deserves it's bad reputation from the general public, because of the way it markets it's products to buyers.

 

[DavidnRobin]

so called a sales rep and found out its for the new north property, whew. now that i have 2 resales, which property is the cheapest developer in order to requalify later on (for elite status, don't plan on ever using as starpoints) and how much do they run?

Glad to hear. You will have to work out the SO numbers for 5* Elite, but you would have to requal both of your resales - with SVO purchases. Duke claims to have done a 2:1 requal deal, but when pressed as to how and how much - silence.

I worked out these numbers for us - just to get to 4* - and it didn't work out - we'd be better off buying 81K SOs resale. One of the resons to become Elite is to get value from your SPs - if yu don'e intend to use them - why bother?

btw, now that you have used TUG - you should consider the cheap $15 to become a member.

 

[Negma]

another way

There is another way, one that we just did. First, what I am about to tell you we considered a luxury decision. Second, since we did this just to get to 5*, SVO may have treated us differently since we were 4* to begin with. We needed (wanted) 123850 Options to get there. In looking at the "duke" model he got 121000 and that would have left us short (see his sticky).

We called SVO and the alternative was buy 3br VV for 38K -139000 Options(not going to happen), then I mentioned "resale".

It turns out SVO does sell resale (you have to ask), focusing mostly on Vistana Resort. After several calls and e-mails we were told we could buy 2 VR Cascades resale and they would let us requalify them and we could use them as any other options, convert them (yes I know...), and have them count toward 5*.

We bought two 2br VR Cascades for 8.5 each- worth 67100/ea or 134200 total options. With closing 18K. They faxed me the contract details and for 599 each requalified and we are now 5* and platinum. The customer service was excellent. On the phone they did all the computer work. Same day we had our 5* in the system and platinum on the SPG site, very cool. The MF's were already paid for in 2007 so we have the options to use this year (probably weekends at MH's).

I am willing to give anyone the sales reps name as her service was great, and it played out just as she said it would. This whole process took about 4 weeks. You can buy the resort cheaper, but we did not have to buy reasle independently and then buy a new developer unit and then requal. The only downside is the MF's will be a little higher that we would have liked, but overall it met our needs.

I do not know if they will do this for just anyone, but it worked for us. One last note, the gentleman at SVO owner services told me he regularly reads this site (thanks for your help) and spends a fair amount of time talking to folks that do not understand the process. Hope this helps.