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So, if the 3BR sold for $35K, at 10,500 DPs, that's $3.30/point, which I think is just under the thresholds discussed earlier in this thread. Looks like $40K might be the minimum for a 3BR now, though maybe influenced by 2019 ROFR budget...which is an unknown at this point.
I had inquired and broker said it just got taken by Marriott. They haven’t disclosed unit number or price, but were recommending an offer of $40k for 3BR. Guessing it went for $35k.
I agree with Steven -- that's surprising that this was ROFR'd. I guess Steven and I were really lucky to slip ours past the goalie if the door is closing. My last one was $35K and I think his was about the same, for better weeks than Week 46.
We may see a newly evolving Marriott world where the very best weeks are ROFR'd and Trusted with less sensitivity to the sale price. Interesting and thanks for posting this.
So, if the 3BR sold for $35K, at 10,500 DPs, that's .33 ratio, which I think is just under the thresholds discussed earlier in this thread. Looks like $40K might be the minimum for a 3BR now, though maybe influenced by 2019 ROFR budget...which is an unknown at this point.
Final Update: I received the email notice from Marriott today. The transfer of ownership at MARRIOTT SHADOW RIDGE ENCLAVES has been completed. This is not bad for an Ebay purchase of $1. I had given up for a while on getting anything on Ebay, but this purchase proves that all things are possible. The owner paid all fees.
FYI, Marriott just exercised their ROFR on my $29,100 offer (seller to pay closing costs) for a 2-bedroom Oceanfront Marriott Maui Ocean Club, Lahaina Tower, annual floating week.
FYI, Marriott just exercised their ROFR on my $29,100 offer (seller to pay closing costs) for a 2-bedroom Oceanfront Marriott Maui Ocean Club, Lahaina Tower, annual floating week.
FYI, Marriott just exercised their ROFR on my $29,100 offer (seller to pay closing costs) for a 2-bedroom Oceanfront Marriott Maui Ocean Club, Lahaina Tower, annual floating week.
Wow! I’d started to assume it was going to take $35k, or $40k to safely clear in the future. I wonder if early in the year budget influences these or is it really a $/point threshold of $4.
Eagerly awaiting to see the next MOC 2BR OF old building sale threshold. A number of those on the market at $20k or so.
And for clarity, you got it for $28k and added closing to contract making it $29,100, which is what Marriott paid.
(Just a datapoint addendum...spoke to broker that had a listing of three MOC 2BR OF floating weeks at $60K. Seller accepted $54K and Marriott took them, not unexpectedly at $18K each. $18K was super low price even two years ago.)
The more of these ROFR exercises I see, I'm feeling better and better about our little EOY-Odd 2BR OV MOC original building we got past ROFR at $8,000 almost exactly one year ago. I can't even remember seeing another EOY-Odd 2BR OV even listed since then.
Looking forward to our trip in less than two months! First time back to Hawaii since 2011!
FYI, Marriott just exercised their ROFR on my $29,100 offer (seller to pay closing costs) for a 2-bedroom Oceanfront Marriott Maui Ocean Club, Lahaina Tower, annual floating week.
Wow! I’d started to assume it was going to take $35k, or $40k to safely clear in the future. I wonder if early in the year budget influences these or is it really a $/point threshold of $4.
Eagerly awaiting to see the next MOC 2BR OF old building sale threshold. A number of those on the market at $20k or so.
And for clarity, you got it for $28k and added closing to contract making it $29,100, which is what Marriott paid.
Seller wanted buyer to pay closing (of course). I asked the agent if he had any understanding of what has passed ROFR recently. He said he thought one passed at $28k. So I said, okay, then I'll offer $29,100 if seller pays closing (thinking that would create a little cushion on the ROFR). I don't know if Marriott is paying that or if the adjust for closing, recognizing that the gain to the seller would only be $28k after closing costs.
The more of these ROFR exercises I see, I'm feeling better and better about our little EOY-Odd 2BR OV MOC original building we got past ROFR at $8,000 almost exactly one year ago. I can't even remember seeing another EOY-Odd 2BR OV even listed since then.
Looking forward to our trip in less than two months! First time back to Hawaii since 2011!
I currently have an EOY-Odd OF 2-Bed in the new buildings. I've been looking for an even year to turn it into an annual in effect, but haven't seen one come up over the past year or so. So, I thought I'd just buy an annual and either rent out the odd-year or stay for a couple of weeks every other year (not such a bad deal... in fact, with lock off could stay for a month, but if I did that I'm not sure I'd be able to extract my wife back into the real world). I paid $13.5k for the EOY-Odd a couple of years back. That tells me prices are MOC are holding steady or going up!
We recently bought a Platinum Newport Coast Villas unit which passed ROFR for $7,800 and the seller paid the closing costs. It was listed for $7,500 plus closing costs and I proposed the final arrangement which was accepted. I added it to the database. We debated adding this resort, which we love, to our portfolio, but decided to move forward so we can escape the summer heat in Las Vegas. Looking forward to it.
FYI, Marriott just exercised their ROFR on my $29,100 offer (seller to pay closing costs) for a 2-bedroom Oceanfront Marriott Maui Ocean Club, Lahaina Tower, annual floating week.
I looked back and in 2017 I bought the same unit and it passed at $19,700. It's very interesting to see when and where they executed ROFR. From what I've seen it is sometimes hard to figure out the rhythm or reason.
I looked back and in 2017 I bought the same unit and it passed at $19,700. It's very interesting to see when and where they executed ROFR. From what I've seen it is sometimes hard to figure out the rhythm or reason.
It can definitely be somewhat unpredictable, but from this thread it definitely seems they have been much more aggressive in buying back at higher prices for the last year or so. That fits with what senior management has been telling investment analysts during their quarterly earnings conference calls - inventory repurchase is their main strategy now to build lower. most inventory for resale in the trust, more so than new property construction, which is higher cost. Until we have a true economic slowdown, the days of cheap prime weeks may be over for a while.
I looked back and in 2017 I bought the same unit and it passed at $19,700. It's very interesting to see when and where they executed ROFR. From what I've seen it is sometimes hard to figure out the rhythm or reason.
Mox, I believe your eBay $19K Lahaina and the $17K MOC by Hangloose, both 2BR OF, were the lowest I remember since 2017 for MOC, until you go back to 2013 on ROFR.net.
For folks that want out of their weeks, at least at MOC, a new strategy might be finding a buyer that wouldn't mind getting a week cheap, but if it got ROFR'd they wouldn't really care....sell a bit below market, but above a giveaway price and basically target Marriott as the buyer. I bet the three or four listed on Redweek for under $25K could do that and even save their broker fees going direct. Just have to find a 'buyer'.
Mox, I believe your eBay $19K Lahaina and the $17K MOC by Hangloose, both 2BR OF, were the lowest I remember since 2017 for MOC, until you go back to 2013 on ROFR.net.
For folks that want out of their weeks, at least at MOC, a new strategy might be finding a buyer that wouldn't mind getting a week cheap, but if it got ROFR'd they wouldn't really care....sell a bit below market, but above a giveaway price and basically target Marriott as the buyer. I bet the three or four listed on Redweek for under $25K could do that and even save their broker fees going direct. Just have to find a 'buyer'.
Let me put a different twist on this. Let's assume there are 2 or 3 for sale at $28k. It would make no sense for Marriott not to just buy those as opposed to exercising a ROFR at $30k. So, one would hope buyers would not bite at those ROFR setups. Seems to me the key to getting past ROFR would be to have a sale for more than the lowest on the market. I wonder if Marriott ever just buys right off the Redweek for sale list? If you're Marriott, why not just offer someone selling for $28k about $27k, rather than a ROFR at $29k?
I looked back and in 2017 I bought the same unit and it passed at $19,700. It's very interesting to see when and where they executed ROFR. From what I've seen it is sometimes hard to figure out the rhythm or reason.
Mox, I believe your eBay $19K Lahaina and the $17K MOC by Hangloose, both 2BR OF, were the lowest I remember since 2017 for MOC, until you go back to 2013 on ROFR.net.
For folks that want out of their weeks, at least at MOC, a new strategy might be finding a buyer that wouldn't mind getting a week cheap, but if it got ROFR'd they wouldn't really care....sell a bit below market, but above a giveaway price and basically target Marriott as the buyer. I bet the three or four listed on Redweek for under $25K could do that and even save their broker fees going direct. Just have to find a 'buyer'.
I think Marriott ROFR will ebb and flow. Appears MVCI is picking up a lot of weeks recently via ROFR, especially high value weeks like Hawaii. A few years ago they were not. When I purchased my MOC a couple years ago as Ralph indicated, I felt at that time that I got a 'fair' price. Not a steal but not bad price either. Watching ROFR over the past year has made me feel a bit better about my purchase given recent ROFR trends are much higher. I suggest those looking to purchase MOC, either keep trying at reasonable price points to pass ROFR...or rent for a year and try and purchase at a later point when ROFR slows. It will happen eventually.
I think Marriott ROFR will ebb and flow. Appears MVCI is picking up a lot of weeks recently via ROFR, especially high value weeks like Hawaii. A few years ago they were not. When I purchased my MOC a couple years ago as Ralph indicated, I felt at that time that I got a 'fair' price. Not a steal but not bad price either. Watching ROFR over the past year has made me feel a bit better about my purchase given recent ROFR trends are much higher. I suggest those looking to purchase MOC, either keep trying at reasonable price points to pass ROFR...or rent for a year and try and purchase at a later point when ROFR slows. It will happen eventually.
Just received notice that I passed Marriott ROFR on an Annual Desert Springs Villas II White season week for $0 plus closing fees (found on Redweek). Marriott exercised ROFR on a $1 price for the Marriott Legends Edge Platinum week on 12/19/18.
Just received notice that I passed Marriott ROFR on an Annual Desert Springs Villas II White season week for $0 plus closing fees (found on Redweek). Marriott exercised ROFR on a $1 price for the Marriott Legends Edge Platinum week on 12/19/18.
I know I’ve posted this in another thread, but question for the group on this thread....
Is $5000 for a Aruba Surf Club 2br floating gold Oceanside view (weeks 18-50 MF$1870) resale a good deal, decent deal or bad deal? When I was recently there on tour Marriott was selling the same week (with ability to convert the week to 2575 DC points) for somewhere between $18-20k (don’t remember the exact amount or view) which I obviously declined.
As I said in the other thread, that’s about the going price for Oceanside. Based on the points you mentioned- the week at Marriott presentation must have been garden view. Keep in mind the resale week will not be eligible to enroll in points program.
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