SF-Canterbury

[momeason]

Hi,
Does anyone know if Wyndham is still selling at the Canterbury?
I was wondering why the maintenance fees are so low. SF is expensive real estate.
I saw a National Harbor contract that had really low maintenance fees and I am pretty sure Wyndham is selling there. Fees will go up after the units are sold out.
Any one know why the m/f are low for this property?

 

[learnalot]

Hi,
Does anyone know if Wyndham is still selling at the Canterbury?
I was wondering why the maintenance fees are so low. SF is expensive real estate.
I saw a National Harbor contract that had really low maintenance fees and I am pretty sure Wyndham is selling there. Fees will go up after the units are sold out.
Any one know why the m/f are low for this property?

Yes they are still selling. MFs are low because 1) the building was already there; Wyndham only renovated 2) concrete building no pool or grounds to maintain 3) still developer subsidized and reserve fund is underfunded.

 

[momeason]

Yes they are still selling. MFs are low because 1) the building was already there; Wyndham only renovated 2) concrete building no pool or grounds to maintain 3) still developer subsidized and reserve fund is underfunded.

#3 is the one I was suspecting. No telling what the fees will be after developer sales stop. Thanks for the info!

 

[ronparise]

consider this

The fees are not low!

We are so used to thinking of mf in terms of dollars per 1000 points....Stop that

What if instead you thought of mf in terms of dollars per year per apartment just like in any condo development...Thats how the poa sets the mf...The figure how much it will take to run the building...and divide my the number of units (its more involved than that,,,but thats the idea)

At Canterbury it take 400000 points to reserve a week..At $3/1000 points it costs $1200 a week or over $60000 a year my

At a resort I own New Bern NC it takes 105000 points for a two bedroom and my fees are $755..so my fees are $7/1000 points only $40000 a year to maintain a two bedroom unit


so which resort has the more expensive fees?? Canterbury at $3/1000 or New Bern at $7/1000?


I would argue Canterbury; because those fees add up to $60000 per year for a 2 bedroom unit vs just $40000 at New Bern

The same argument can be made for National Harbor and La Belle Maison and others

This is a side effect of whats called point inflation. The newer resorts have a higher point requirement than the older ones and as a result the mf expressed as dollars per 1000 is less

 

[momeason]

consider this

The fees are not low!

We are so used to thinking of mf in terms of dollars per 1000 points....Stop that

What if instead you thought of mf in terms of dollars per year per apartment just like in any condo development...Thats how the poa sets the mf...The figure how much it will take to run the building...and divide my the number of units (its more involved than that,,,but thats the idea)

At Canterbury it take 400000 points to reserve a week..At $3/1000 points it costs $1200 a week or over $60000 a year my

At a resort I own New Bern NC it takes 105000 points for a two bedroom and my fees are $755..so my fees are $7/1000 points only $40000 a year to maintain a two bedroom unit


so which resort has the more expensive fees?? Canterbury at $3/1000 or New Bern at $7/1000?


I would argue Canterbury; because those fees add up to $60000 per year for a 2 bedroom unit vs just $40000 at New Bern

The same argument can be made for National Harbor and La Belle Maison and others

This is a side effect of whats called point inflation. The newer resorts have a higher point requirement than the older ones and as a result the mf expressed as dollars per 1000 is less

Since I trade with my points, I still think in price per point. I do not plan to reserve and rent the units. I understand your view, but I also think the fees will rise after the developer stops selling. I definitely agree about Point inflation. That is why I trade outside of Wyndham in II. They made that more expensive last year also. Points are points for me to use in II and get XYZs with each exchange.

 

[ronparise]

Since I trade with my points, I still think in price per point. I do not plan to reserve and rent the units. I understand your view, but I also think the fees will rise after the developer stops selling. I definitely agree about Point inflation. That is why I trade outside of Wyndham in II. They made that more expensive last year also. Points are points for me to use in II and get XYZs with each exchange.

Of course we think in price per point..thats all we should think about when it comes to using our points

But if the question is why are those fees low? (the ops question) I think you have to think about how the mf is determined. and that goes to the cost to operate the building. Im just saying that the cost at Canterbury isnt really any cheaper...in fact its more expensive, but because of point inflation Canterbury owners get a deal when they travel to other resorts

I also dont think the fees will rise any more than at any of the other resorts

 

[jjmanthei05]

Of course we think in price per point..thats all we should think about when it comes to using our points

But if the question is why are those fees low? (the ops question) I think you have to think about how the mf is determined. and that goes to the cost to operate the building. Im just saying that the cost at Canterbury isnt really any cheaper...in fact its more expensive, but because of point inflation Canterbury owners get a deal when they travel to other resorts

I also dont think the fees will rise any more than at any of the other resorts

Ron,

If you are right this could become the new "smoky mountains" for resale contracts.

Jason

 

[vacationhopeful]

Reasons for this within the SALES WORLD of Wyndham (a company managed by people from a Sales background).

Logically, the SF resort is not located within close driving distance to other resorts.
It has a great Urban location and "point" inflation was applied to the MAX for these units.
Bigger sales contracts to sell and use there.
Higher income area of new Wyndham TS prospects.
Once in a lifetime trip for vast majority of Wyndham owners based on the East coast, etc.
Plus, the MF per 1K is lower than most => implying a bargain to hold.