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Seaview on eBay

EKniager

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My wife would have killed me if I bought another week but it pained me to watch the Platinum Seaview just go for $305 on eBay! Is there any way Marriott lets this slide?
 

dioxide45

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Why? Is the writing on the wall? Is their association with this location... terminating soon?

A) Marriott doesn't need the inventory.
B) Marriott doesn't have the money to cover the ongoing carrying costs because they will be holding the week due to A.
 

Jennie

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My wife would have killed me if I bought another week but it pained me to watch the Platinum Seaview just go for $305 on eBay! Is there any way Marriott lets this slide?

Perhaps it will ease your pain to learn that a "fellow/sister TUGger" (me) was the winner of that auction. I hope my husband doesn't kill me :rolleyes:. We already own too many timeshares but... this will be out first Marriott.

It is within driving distance of our home (about 125 miles) and we will most likely want to use it ourselves every year. We have exchanged into that resort 3 times and loved it, even though it was off season. And it should be easy (I hope) to rent out a prime summer week in case we want/need to skip a year. We have lots of relatives and friends who look to us for help in planning a nice vacation.

I do have some concern about Marriott exercising their ROFR. And if it does go through, I have zero experience with the Marriott reservation system so I don't know how easy (or difficult) it will be to obtain a week in July 2012, which would be our preference. Elsewhere on the TUG Forums I think I saw a statement that owners of fixed weeks can begin making reservations 13 months in advance so I hope by the time we become the proud "parents" of this newest member of our timeshare stable, there will be something decent left for us to reserve. If not, we'll settle for a less demand week in 2012 and look forward to July weeks in the years thereafter.

In case you think your temptation is over, there is another Platinum Seaview week being actioned off on Ebay in 2 days with a "buy it now" price of $495. I think. Hubby is threatening to disable our computer and/or lock me in a closet around that time :hysterical:
 

mpizza

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Congratulations Jennie!

Marriott does not have a ROFR at Fairway Villas, so no worries. I was also looking at that auction, but did not bid, as I am in the middle of closing on another location.

I own at MFV and routinely book 4th of July week for use. I noticed this year it was easier to book, maybe the rush to get a holiday week for trading is lessened now that all Platinum weeks in the DC are the same point value?

I will be happy to answer any questions you may have.

Much good luck on many happy years of ownership.

Maria
 

EKniager

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Perhaps it will ease your pain to learn that a "fellow/sister TUGger" (me) was the winner of that auction. I hope my husband doesn't kill me :rolleyes:. We already own too many timeshares but... this will be out first Marriott.

It is within driving distance of our home (about 125 miles) and we will most likely want to use it ourselves every year. We have exchanged into that resort 3 times and loved it, even though it was off season. And it should be easy (I hope) to rent out a prime summer week in case we want/need to skip a year. We have lots of relatives and friends who look to us for help in planning a nice vacation.

I do have some concern about Marriott exercising their ROFR. And if it does go through, I have zero experience with the Marriott reservation system so I don't know how easy (or difficult) it will be to obtain a week in July 2012, which would be our preference. Elsewhere on the TUG Forums I think I saw a statement that owners of fixed weeks can begin making reservations 13 months in advance so I hope by the time we become the proud "parents" of this newest member of our timeshare stable, there will be something decent left for us to reserve. If not, we'll settle for a less demand week in 2012 and look forward to July weeks in the years thereafter.

In case you think your temptation is over, there is another Platinum Seaview week being actioned off on Ebay in 2 days with a "buy it now" price of $495. I think. Hubby is threatening to disable our computer and/or lock me in a closet around that time :hysterical:

Congrats to you!!!!

When we lived in RI we drove down to Seaview and had a great 3-day vacation. And... contrary to my insistence during our drive that we not buy anything... we ended up with a two-bedroom lockoff at the Aruba Surf Club. Since this was in my pre-TUG days we were obviously just lucky and not informed, however a property that rents for 2.5X the maintenance fee is a pretty good deal. Nevermind it is a place that we enjoy visiting every other year, or so!

We too just purchased an inexpensive, undervalued, "drive-to" TS property-- Harbour Point at Shelter Cove. Since moving to NC last year, we are thrilled with our ability to drive to Grande Dunes (in Myrtle Beach), Manor Club (Williamsburg), and the various Hilton Head properties. I am starting to appreciate quality vacations that don't require airfare and a rental car.

It's because of this new found austerity view that my wife held me back from bidding against you. She didn't want to drive that far or get in the real estate rental business. (LOL, even though I thought we could regularly rent it for more than the maintenance fee.)

Enjoy!
 

classiclincoln

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Personally, I'd never touch that resort. I live about 45 minutes inland from there and the Seaview CC was one of the area's premier golf resorts. At one time, it was extremely elitist and semetic (no Jews or blacks). However, all that property was recently sold to Stockton State College, located just up the road (not Rte. 9, but the other one). They are using the rooms as dorms and plan on converting the property to their Hotel & Restaurant Management school. Not sure what they have done or will do with the golf course, but I'm guessing the college doesn't want to be in both the restaurant and golf course business.
 

dioxide45

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Club Wyndham CWA
Marriott does not have a ROFR at Fairway Villas, so no worries.

Checked the FAQ and you are correct. No need to worry about ROFR at Fairway Villas.
 

Jennie

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That's definitely something to take into consideration. A brief Internet search showed the following: "In August of 2010, Stockton announced plans to purchase The Seaview Resort & Golf Course. If acquired, they have announced plans to convert a small portion of the hotel rooms into student housing while still maintaining a functioning hotel and golf course...On September 1 2010, Stockton finalized the deal for $20 million."

There was a lot of info about a Johnny Rockets restaurant recently opening on the main campus but just as a restaurant serving the whims of students who do not like cafereria style meals.

I'll call around tomorrow to seek more information.

I would hope that Marriott will has a vested interest in maintaining the high level of the timeshare property which is located quite a distance from the Seaview Hotel. A few possible positives come to mind. Parents of the students residing in the hotel might want to rent a timeshare for visits.

And down the road, the college might want to buy out the timeshare property for expansion. Deeded owners would have to agree to the plan and could receive considerable compensation. We once owned 4 weeks at a beautiful timeshare acquired resale for a total of $7500. (altogether, not each). After years of fabulous vacations there, we were "bought out" for almost $30,000..

We own Cape Cod deeded summer weeks at an independent resort that has been trying for years to close down during the "dead of winter" and then sell units in two of the many buildings as full year privately owned condos. Most of the timeshare weeks during that season were never sold or were subsequently abandoned by owners who went bankrupt, died, cannot be found, etc...

It took "forever" to obtain the requisite signed proxies from 80% of owners in good standing. It was finally accomplished a few years ago. Since then it has been tied up in the court awaiting the approvals necessary to implement the plan. No owners are disputing it. Those who owned the "dead" weeks and had been paying the m/fs will receive a free replacement prime summer week.

Still waiting, waiting, waiting...

It is a BIG DEAL to sell or restructure a deeded timeshare or condo. The use of part of the Seaview Hotel for student housing was apparently a simpler process.

I'm sure that Marriott being Marriott negotiated terms designed to maintain or increase the integrity of their timeshare property. According to most of the info posted here on TUG about their Points conversion program, Marriott is sure as heck not offering worthwhile incentives to entice most deeded owners to give up their deeded ownership.The consensus seems to be that owners of deeded Platinum weeks will fare better.

We own fixed weeks, floating weeks, Wyndham Points, RCI Points but no Marriotts so I may be missing something.
 
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EKniager

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Jennie-

I wouldn't worry too much. They made a $20MM investment for a facility that is attractive because it has a famous golf course. Since they are getting the extra benefit of using it for teaching, it is a strategic purchase not a financial buy. They could sell off the golf asset to a management company to offset the acquisition costs but it would make no sense to shut it down and destroy the primary reason why people stay there. Seaview has history (the 1942 PGA Championship, LPGA), the Donald Ross name, and the proximity to Atlantic City. You'll be fine. Uncertainty helped you buy this at a significant discount from the original developer sales price. Enjoy your victory. As the commercial says, "It's better when you win it!"

E
 
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