Should I buy Westin St. John - Coral Vista?

[Doublej]

My wife and I have an SDO I paid $1 for. They want to sell us a new Coral Vista 1bd every year Platinum season for $27,900 but give me $7700 trade in for the SDO. It comes with 81000 star options. MF are $1720.

They told us it's hard to trade into WSJ. My wife really wants to go there, so should I buy something resale and risk trying to trade in? or just go through with the purchase?

 

[Markus]

What they are offering you is actually a studio and not a 1 bedroom, I was given the same offer in March at Kierland. I just purchased a true 1 bedroom in another phase of the resort for considerably less, I expect you could purchase a studio in the Virgin Grand phase, which comes with Star Optins for exchanging to other properties for even less( likely under $1,000)

 

[LisaRex]

If it's a 1 bdrm, that's hardly the worst deal I've ever heard. If you really like the CV section, and want to travel there every year, it's worth considering, especially since it comes with a nice set of SOs.

VG would definitely be cheaper, and better from a resale perspective because a new buyer will get SOs, but I personally would rather be in either BV or CV. Maybe it's because it was the first phase we stayed in, but we all preferred being closer to the main resort. We make good use of the pool, the beach, the tennis court, the hot tub and the restaurant. VG pool was nice, but didn't offer poolside service.

So, if you like being close to the main resort (as I do), then CV would be a nice compromise. The price isn't astronomical and it'll come with a nice chunk of SOs for exchanging.

 

[okwiater]

Keep in mind the MFs in Coral Vista are sky high, and I'm not quite sure why since the units aren't fundamentally different from Bay Vista and in fact have smaller footprints and more limited kitchens. I understand that they will be somewhat higher since the seasons are blended within the trust, but still.

The Coral Vista unit has MFs of $1,720 for 81,000 StarOptions which is 2.1 cents per SO.
My Bay Vista unit has MFs of $2,433 for 257,700 StarOptions which is 0.9 cents per SO.

 

[carpie99]

I am the exact opposite ... stayed in BV first time and hated being so far away from my car.

Second trip stayed in VGV and loved how close my car was.

I don't care to use the facilities at the resort much. We are either on the North Shore somewhere or in Cruz Bay. We buy our food and liquor at the market so bringing those drinks to the smaller pools up the hill is better for us.

I bought a week 28 2 bedroom ... $2900
Week 27 EOY Odd 1 bedroom ... $500
Week 29 EOY Even 1 bedroom ... $500

Summer was preferred for us now with kids.

If I was going to get a platinum I am sure I could find a one bedroom for no more than $6K with similar MFs.

 

[LisaRex]

I am the exact opposite ... stayed in BV first time and hated being so far away from my car.

Having your car close IS very nice, especially when you're lugging snorkeling gear and groceries back and forth. However, we found ourselves walking just as much, if not more, going back and forth between the pool, etc.

If you're not into all the resort amenities, then VG resale is definitely the way to go. If you are, then possibly see if they can offer you a similar deal in BV.

 

[DavidnRobin]

Keep in mind the MFs in Coral Vista are sky high, and I'm not quite sure why since the units aren't fundamentally different from Bay Vista and in fact have smaller footprints and more limited kitchens. I understand that they will be somewhat higher since the seasons are blended within the trust, but still.

The Coral Vista unit has MFs of $1,720 for 81,000 StarOptions which is 2.1 cents per SO.
My Bay Vista unit has MFs of $2,433 for 257,700 StarOptions which is 0.9 cents per SO.

You have a future in SVO sales with that math...
A better comparison would be MFs for 81K SOs at both CV and BV.
Also, value is more than $/SO.

To the OP - knowing the nuances of what exactly you are buying and the value (extrinsic and intrinsic) to you - versus alternatives - are key factors. For nuances - I am talking more than purchase cost - trade-in value, and MFs. Even the experts here - cannot tell you how CV will work out in the future for value. Unless you have disposable cash - it is likely not worth buying CV from SVO.

Re: VGV - my poolside service is 30 steps away (that is the distance from our villa's kitchen to the B33-34 pool) - and a hell of a lot cheaper - and villa is actually next to pool (and BBQs and patio and views) - w/o having to share with the hoards. Oh yeah - and the car access. YMMV

 

[okwiater]

You have a future in SVO sales with that math...
A better comparison would be MFs for 81K SOs at both CV and BV.

There is no such thing as 81K SOs in BV. The smallest unit is a 2 bedroom which goes for 95.7K SOs in the lowest season.

Either way, the point was merely to illustrate how much higher the MFs in CV are than in BV. Even if you compare a CV 3-bedroom, the only way to obtain one is to buy multiple "Home Options" packages with MFs that will exceed $4,000. So, $/SO in Coral Vista is approximately twice as much, give or take, as in Bay Vista.

Also, value is more than $/SO.

Very true. And CV certainly has some "advantages", if smaller units, higher MFs, and limited kitchens are your thing. Okay, okay, the flexible check-in days are a legitimate perk for some.

 

[DavidnRobin]

There is no such thing as 81K SOs in BV. The smallest unit is a 2 bedroom which goes for 95.7K SOs in the lowest season.

Either way, the point was merely to illustrate how much higher the MFs in CV are than in BV. Even if you compare a CV 3-bedroom, the only way to obtain one is to buy multiple "Home Options" packages with MFs that will exceed $4,000. So, $/SO in Coral Vista is approximately twice as much, give or take, as in Bay Vista.



Very true. And CV certainly has some "advantages", if smaller units, higher MFs, and limited kitchens are your thing. Okay, okay, the flexible check-in days are a legitimate perk for some.

I understood - my comment was comparing a poor CV value for $/SP compared to a better BV value for $/SP - and that can be skewed. To get closer to a less skewed comparison - a 95.7K vs. 95.7K SO is probably a better comparison. Of course, this is further complicated on the type of CV phase being sold. To my point - at this point in time it is challenging to know how these CV trust-units will hold up in future value.

The complication is that BV and VGV) has distinct seasons where (like most of SVO with seasons) low seasons are paying much higher $/SO than high seasons. The CV phase has attempted to correct this - and I whole-heartedly agree just from the aspect of the health of the HOA alone. Meaning… Owners with low season VOIs bail out at much higher rates then high season Owners. This appears to be true across many SVO resorts based on foreclosures (and HOA sales).

As to WSJ - this is very apparent for VGV. My MFs are $2400 for a low-season (June) 2Bd TH worth 95.7K SOs - 2.5c/SO - yet high season Owners of same villa only pay 1.6c/SO. (of course, the SVO prices for high-season were much higher at the time). Based on a couple of HOA sales (and another one coming soon) - there are many more low-season VOIs for sale - which means many more foreclosures prevented. It would have been interesting is the MF/SO were more aligned if this would still hold true.