Sheraton Desert Oasis Foreclosure

[spi777]

Hi All. I'm new to TUG. Have question re: value/trading power of my week/and whether to keep and/or add on, or let go. I apologize in advance for my lengthy post, but wanted to give some background.

I own EOY odd, 1BR floating, Red, at Sheraton Desert Oasis, which I purchased from developer for $5k in 1999. I read on TUG thread that this is legacy week since purchased prior to 1999. MF are $387.14 per yr (even though EOY week, they split maintenance fees in half on EOY so you pay 1/2 every yr).

Even though I've owned since 1999, only used 1 or 2x through RCI early on--once to go to Sedona and once to go to Lake Tahoe. Didn't use after this, b/c it was so difficult to use RCI in terms of availability for times/locations I wanted (summer, spring break, holidays). Maybe RCI is better/easier to use now, but never been big fan.. Anyway, I had all but forgotten that I owned this week until recently. couldn't find my paperwork, and didn't remember receiving MF bill for quite some time, so I called Vistana to check. they said it is currently in foreclosure (started April this yr) for unpaid MF totalling $1227.46. I had no idea--the past 2yrs have been rough due to personal/family issues. now better and coming out of fog....

Anyway, my question is whether I should pay past due MF, and try to get my SDO week back, or just let it get foreclosed?

I don't know much about Vistana internal exchange network since haven't tried using in so long. If I took week back, I would never use for home resort (unless I could rent out but don't know enough about Vistana system) and wouldn't work for our family of 5--would need 2BR. Can you rent home week and if so, how difficult is it to do?

When we travel, we go to GPP in Carlsbad every year for summer vacation, and like to go to Hawaii every 2-3 yrs. I am in process of closing on resale week purchase at GPP in Carlsbad, fixed wk/not part of HGVC, and waiting to close. This will check box for summer in Carlsbad, w/ guaranteed 2BR that works for our family at resort we love. Looking for best option to add on Hawaii and wondering if I should keep/add on to SDO, or go with HGVC resale since I've recently used and had good luck with their system/selection of resorts. We are limited to travelling in high peak season--summer, spring/fall break, holiday weekends since kids all under age 18.

I previously owned resale GPP fixed week and also owned EOY HGVC developer purchased points combo which allowed me to convert GPP fixed wk to HGVC points (sold both last yr). I won't go into it, but made bad decision when selling--basically giving back both for $500 combined to developer. Now realized what a smokin deal I had and shouldn't have sold--but found TUG too late! I am hoping to get same deal i previously got from HGVC (buy into HGVC for smallest amount with option to convert my GPP fixed wk into HGVC points) since would like to have HGVC points to go to Hawaii every couple yrs and I have successfully used and liked their trading process/selection of resorts. but in reading HGVC threads, not sure this will be option, and if option, not sure if cost of buy in would be too high. I have successfully used HGVC points system and like that you don't have to use external exchange system with HGVC to find high quality resorts where I want to go--basically, CA and Hawaii--at least for now while kids are still in school. Not sure if Vistana internal exchange system is as good as HGVC?

So, based on above, keep or let it go? would it be worth it to keep Vistana time share and buy another 1BR resale so I have enough points to get 2BR in Hawaii every 2nd or 3rd year? And, if I keep, how difficult would it be to get Hawaii in summer using Vistana system?

TIA!

 

[needvaca]

If you can pay your maintenance fees to get it out of foreclosure, Sheraton Desert Oasis is an excellent trader in Interval International. Since you bought from the developer, you have access to II- membership is included in your Vistana fee. Set up your account at https://www.intervalworld.com/web/my/home, to check it out.
A 1BR at SDO can often trade into 2 BRs. Also, II has great deals for "Getaways", where you can pay anywhere between $300-$1000 for a week somewhere, often in a 2BR.

But first I would check to make sure you can easily get it out of foreclosure

 

[dioxide45]

If you've only used it one or two times in 23 years, what makes you think you might use it more in the future? Will you salvage it from foreclosure and then continue to pay more and more fees and still not use it?

 

[spi777]

Thanks for the replies. I should add that I don't want a foreclosure on my credit, so I am going to call either way. Just trying to find out if I should try to sell it or keep it?

If it truly has trading power to use for Hawaii, I could see myself using it.

Good point, about not using it for 23 years, but I was one of those people, prior to finding TUGS, that didn't really know how to use time shares and got easily frustrated early on, and then kids in life happened and I figured I could never use a 1 bedroom with my kids... Thanks to TUGS, I now know I have options, just trying to weigh what are the best options to get to Hawaii. Vistana or HGVC resale. I like the idea of being able to go to kuaui, and since vistana has a location on Kauai, Maybe worth keeping And/or upgrading depending on what the buyer will look like.

does anyone know, If I buy resale Vistana, to get enough points to get a 2 bedroom, can I combine with my current developer week, and still get the same benefits, or do I get lower tier benefits in terms of having having best season to trade? I know my current week is red, at least when I called that is what they told me.. I will try to locate my deed and verify, of course.

 

[dioxide45]

Thanks for the replies. I should add that I don't want a foreclosure on my credit, so I am going to call either way. Just trying to find out if I should try to sell it or keep it?

If it truly has trading power to use for Hawaii, I could see myself using it.

Good point, about not using it for 23 years, but I was one of those people, prior to finding TUGS, that didn't really know how to use time shares and got easily frustrated early on, and then kids in life happened and I figured I could never use a 1 bedroom with my kids... Thanks to TUGS, I now know I have options, just trying to weigh what are the best options to get to Hawaii. Vistana or HGVC resale. I like the idea of being able to go to kuaui, and since vistana has a location on Kauai, Maybe worth keeping And/or upgrading depending on what the buyer will look like.

does anyone know, If I buy resale Vistana, to get enough points to get a 2 bedroom, can I combine with my current developer week, and still get the same benefits, or do I get lower tier benefits in terms of having having best season to trade? I know my current week is red, at least when I called that is what they told me.. I will try to locate my deed and verify, of course.

If your current SDO week was bought in 1999 and you have it in VSN, then it comes with 44,000 StarOptions. You can combined those with StarOptions from a mandatory resale week to book at 8 months from checkin. You can't just buy any resale week, it must be considered "mandatory".

 

[VacationForever]

If your current SDO week was bought in 1999 and you have it in VSN, then it comes with 81,000 StarOptions. You can combined those with StarOptions from a mandatory resale week to book at 8 months from checkin. You can't just buy any resale week, it must be considered "mandatory".

EOY 1BR premium, red, i.e. week 1-52, would yield 44K SOs every other year.

 

[dioxide45]

EOY 1BR premium, red, i.e. week 1-52, would yield 44K SOs every other year.

I was thinking 2BR for some reason. I updated my post.

 

[spi777]

EOY 1BR premium, red, i.e. week 1-52, would yield 44K SOs every other year.

Interesting. When I initially called them they said that it was worth 67,100 points.

I got in touch with the foreclosure department, and they said they were gonna send me an email letting me know what I had to pay to get it out of foreclosure. That was 2 hours ago, and still waiting to receive the email ,and they said they would send it in one hour....

 

[dioxide45]

Interesting. When I initially called them they said that it was worth 67,100 points.

I got in touch with the foreclosure department, and they said they were gonna send me an email letting me know what I had to pay to get it out of foreclosure. That was 2 hours ago, and still waiting to receive the email ,and they said they would send it in one hour....

Did you purchase it from Starwood at the time, or was it the original developer prior to when Starwood took over?

 

[Kimberly614]

Even if it was a resale week, you could easily use it to get Hawaii. I've used mine for WPORV and WKORVN. It's a great trader in Interval International. You don't necessarily need StarOptions. I'd keep it - if you plan to use it. If not, it's just money down the drain every year. Selling it would probably mean giving it away - I got mine for free and the seller paid closing costs.

 

[VacationForever]

Interesting. When I initially called them they said that it was worth 67,100 points.

I got in touch with the foreclosure department, and they said they were gonna send me an email letting me know what I had to pay to get it out of foreclosure. That was 2 hours ago, and still waiting to receive the email ,and they said they would send it in one hour....

Sounds like it is 1BR Deluxe (small) which is a Platinum week and you bought after Starwood took over the resort.

 

[spi777]

Did you purchase it from Starwood at the time, or was it the original developer prior to when Starwood took over?

It's been so long I can't remember, but I'm pretty sure the property we looked at was at Sheraton Desert Oasis--I know it was in scottsdale area. I am looking at my deed and it is dated 6/4/99, and lists Vistana Scottsdale, Inc as beneficiary, and First American Title Insurance Co as Trustee with legal description 1st line stating, "Interval No. D-32-1039, Scottsdale Pinnacle, a Biennial Interval consisting of: (i) an undivided 1/23,712 fee interest in the real property described as Exh A, (Exh A references NE corner of Scottsdale Villa Mirage Resort Condominiums and bunch of other legal descriptions) and (2) the right to occupy a Unit of the 1 BR Standard Unit Type for one (1) Interval Week on a biennial and recurring basis, the exact Use Period to be established every yr or EOY...."

No where does it say this is Red Week, (as I was advised when I called Vistana to inquire about my account)

Update: I was able to reach foreclosure dept--which was actually First American Title and they sent me settlement statement which included my past due MF's + $275 in foreclosure fees to be paid w/in 5 days to avoid foreclosure. I wired the $ because I don't want foreclosure on my credit.

but not so sure what I have or how difficult/easy it will be to use. How do I know if this Red week, or does it matter with this TS?

 

[dioxide45]

It's been so long I can't remember, but I'm pretty sure the property we looked at was at Sheraton Desert Oasis--I know it was in scottsdale area. I am looking at my deed and it is dated 6/4/99, and lists Vistana Scottsdale, Inc as beneficiary, and First American Title Insurance Co as Trustee with legal description 1st line stating, "Interval No. D-32-1039, Scottsdale Pinnacle, a Biennial Interval consisting of: (i) an undivided 1/23,712 fee interest in the real property described as Exh A, (Exh A references NE corner of Scottsdale Villa Mirage Resort Condominiums and bunch of other legal descriptions) and (2) the right to occupy a Unit of the 1 BR Standard Unit Type for one (1) Interval Week on a biennial and recurring basis, the exact Use Period to be established every yr or EOY...."

No where does it say this is Red Week, (as I was advised when I called Vistana to inquire about my account)

Update: I was able to reach foreclosure dept--which was actually First American Title and they sent me settlement statement which included my past due MF's + $275 in foreclosure fees to be paid w/in 5 days to avoid foreclosure. I wired the $ because I don't want foreclosure on my credit.

but not so sure what I have or how difficult/easy it will be to use. How do I know if this Red week, or does it matter with this TS?

Starwood closed on the deal to purchase Vistana in late 1999. I suspect this was after your 6/4/1999 date. That would mean that you own a 1-52 floating Gold Plus week. You should be able to confirm this if you are able to login to Vistana.com and look at the What You Own section. Someone with more knowledge should be able to confirm if it is a large or small 1BR unit and then you would be able to confirm the number of StarOptions. Again though, you should be able to see StarOptions on Vistana.com as long as they haven't shut down or locked you out of your account due to foreclosure.

As for usage, you will probably get the best use from it by trading through II. A 1BR should be able to trade for most Westin and Sheraton weeks that show up in II inventory online.

 

[spi777]

Even if it was a resale week, you could easily use it to get Hawaii. I've used mine for WPORV and WKORVN. It's a great trader in Interval International. You don't necessarily need StarOptions. I'd keep it - if you plan to use it. If not, it's just money down the drain every year. Selling it would probably mean giving it away - I got mine for free and the seller paid closing costs.

sorry--don't know all the acronyms. what is WPORV and WKORVN?

 

[spi777]

Starwood closed on the deal to purchase Vistana in late 1999. I suspect this was after your 6/4/1999 date. That would mean that you own a 1-52 floating Gold Plus week. You should be able to confirm this if you are able to login to Vistana.com and look at the What You Own section. Someone with more knowledge should be able to confirm if it is a large or small 1BR unit and then you would be able to confirm the number of StarOptions. Again though, you should be able to see StarOptions on Vistana.com as long as they haven't shut down or locked you out of your account due to foreclosure.

As for usage, you will probably get the best use from it by trading through II. A 1BR should be able to trade for most Westin and Sheraton weeks that show up in II inventory online.

thanks for the info. i am currently locked out of my account, but they said it will be re-instated once they receive payment. what is II inventory? is that Vistana's internal exchange or an external exchange? and do I have to pay a fee to join?

 

[dioxide45]

thanks for the info. i am currently locked out of my account, but they said it will be re-instated once they receive payment. what is II inventory? is that Vistana's internal exchange or an external exchange? and do I have to pay a fee to join?

II is Interval International. There is a fee to join and exchange, but it is where you will probably get the most value out of an EOY SDO 1BR week. I don't know for sure if you get StarOptions based on when you bought and how they handled this resort when Starwood took over. I think you need to see what your account shows once you can get back in.

 

[VacationForever]

If you have been paying a SVN / VSN fee, which sounds like you have since your week comes with Star Options, then the II account is free. Trading is not currently free in II but when the Marriott-Vistana merger is completed, the club fee will go up but it will also include free II trades to Vistana and Marriott weeks.

 

[tklement]

sorry--don't know all the acronyms. what is WPORV and WKORVN?

Westin Princeville Ocean Resort Villas (Kuaui) and Westin Kannapali Ocean Resort Villas North (Maui)

 

[lorenmd]

if it was before sheraton bought then you own a company 47 which is very valuable for staying at SDO. your SO chart is different. you only need 44k SO to get a week at the large one bedroom and i think it is 88 to get a 2 bedroom. i have one of these in my portfolio just so i can rent about 10 weeks at 44k SO a week.