Should I Rescind?

[LisaRex]

Hopefully, I will get my deposit back before payment is due on my credit card.

Call your cc company and explain that you are expecting a credit on that particular line item so that you won't be obligated to pay. Starwood is very good about refunding money, so I wouldn't worry about it too much.

I think I could make good use of a TS, but I did not feel confident I was getting my money worth at the SVR. Plus, there were too many errors (e.g., wrong starting date for MF & Taxes) and limitations attached to my contract. I am interested in the resale market, and was wondering if I would be happier with a HGVC rather than a Starwood TS as a start.

Certainly you should investigate both clubs, as well as Marriott, thoroughly before committing to anything. Resale is definitely the way to go.

I think most people are happy with HGVC but they, like Starwood, have a very limited network. For instance, there are no HGVC's on Maui. That was a deal killer for me. Marriott, on the other hand, has 65 TSs in their network. However, there are downsides to owning Marriott (e.g. multi-week owners get priority when making reservations) that may concern you.

 

[Bill4728]

RE Hilton & Marriott,

There are lots of TS out there and maybe buying a super cheap one like SVR (resale) is a good idea. BUT Hilton does have two things going for it that Sheraton & marriott do not.
-Everyone buying resale (at a true HGVC resort) can trade their TS for hotel points
-Everyone buying resale (at a true HGVC resort) can trade their TS for for HGVC points. HGVC pts can be used for internal trading within the HGVC system. (There is no internal system for Marriott. And only resale buyers at a Starwood mandatory resort can do internal trading. )

After all that we still bought Marriott, because the resort we most wanted to visit is a Marriott resort in SoCal.

 

[Sophie]

Working on listing my specs...

Call your cc company and explain that you are expecting a credit on that particular line item so that you won't be obligated to pay. Starwood is very good about refunding money, so I wouldn't worry about it too much.



Certainly you should investigate both clubs, as well as Marriott, thoroughly before committing to anything. Resale is definitely the way to go.

I think most people are happy with HGVC but they, like Starwood, have a very limited network. For instance, there are no HGVC's on Maui. That was a deal killer for me. Marriott, on the other hand, has 65 TSs in their network. However, there are downsides to owning Marriott (e.g. multi-week owners get priority when making reservations) that may concern you.

I have been getting a lot of good tips and great suggestions in such a short time!
Looking retrospectively at our travelling habits, I would say that, in a dream world, we would like:
- access to multiple destinations at no extra charge (past and long-term goals)
- Low MF (I am MF/special assessment phobic!!! - I live in a gated community and saw my association fees go up from $180 to $315?mo. - +$40 in less than 6 mo. due to delinquent accounts + $10,000 special assessment for fixing structural defects in 296 units - 4 had to be demolished)
- Low initial cost (more important if I can resell my TS more easily, in case MF go sky rocketting)
- good trading power;
- access to school recess periods (most probably platinum/high demand period)
- family oriented locations (have a 4 y.o. who just got a taste of Disney World)
- the possibility of travelling by car or being a short flight away from Miami, FL (tight budget, hard to travel with small kids)
I have been reading more about points systems like Worldmark and Bluegreen, but I need to find more recent information on comparisons.
The whole topic of TS and resale market definitely complex and requires extensive reading. But the hardest to grasp and master, when one does not own a TS yet, is the whole trading/depositing/reservation business. Sooooooooooooo much to learn...

 

[DanCali]

I have been getting a lot of good tips and great suggestions in such a short time!
Looking retrospectively at our travelling habits, I would say that, in a dream world, we would like:
- access to multiple destinations at no extra charge (past and long-term goal)
- Low MF (I am MF phobic!!! - I live in a gated community and saw my association fees go up from $180 to $315 -- +$40 in less than 6 mo. due to delinquent accounts)
- Low initial cost (more important if I can resell my TS more easily)
- good trading power;
- access to school recess periods (most probably platinum/high demand period)
- family oriented locations (have a 4 y.o. who just got a taste of Disney World)
- the possibility of travelling by car or being a short flight away from Miami, FL (tight budget, hard to travel with small kids)
I have been reading more about points systems like Worldmark and Bluegreen, but I need to find more recent information on comparisons.
The whole topic of TS and resale market definitely complex and requires extensive reading. But the hardest to grasp and master, when one does not own a TS yet, is the whole trading/depositing/reservation business. Sooooooooooooo much to learn...

Sophie,

Did you mail your recission letter to:

SVO Pacific Inc.
ATTN: Document Administration
9002 San Marco Court
Orlando, FL 32819

If so, you can also fax it to: 407-903-4718. I went through the same process last year and used both fax, USPS and disputed the charge with Amex.

In regards to other systems - take your time to learn and always buy resale. Worldmark has low MFs and cap increases at 5% a year as well, but it's probably not the best fit if you live on the east coast (unless you buy exclusively to trade, which some people do). Marriott can be a good system for you - they have resorts all over the country so you can vacation close to home or all the way in Hawaii, or even Europe or Thailand. Their MFs are not low (although lower than many Starwoods), but have historically been more stable than Starwood and that's important. If you buy a Platinum week you should have very good exchange power once you know how to exchange. You may also want to consider LisaRex's advice to just rent from owners posting on RedWeek or the TUG marketplace. At many places rental prices are not much more than MFs, and you don't have to worry too much. For example, we just recently stayed in a 2BR very close to Disneyworld for less than $100/night - even though I own a couple of timeshares, I felt I could use them better than an Orlando stay.

Whatever you do don't rush into it and good luck!

 

[Stricky]

Take a look into DVC (Disney Vacation Club). It meets most of your requirements. I do not own there but most owners seem very happy.

As an added bonus DVC does not work like anything you have learned so far so you have a whole bunch more to read about.

 

[Sophie]

Sophie,

Did you mail your recission letter to:

SVO Pacific Inc.
ATTN: Document Administration
9002 San Marco Court
Orlando, FL 32819

If so, you can also fax it to: 407-903-4718. I went through the same process last year and used both fax, USPS and disputed the charge with Amex.

The address was similar, but the recipient company name was Vistana Development, Inc. In any case, I will use the fax number and fax a copy tomorrow from work, bec it was the same ATTN recipient.
Thank you for the tip and for the advice.

 

[Sophie]

Take a look into DVC (Disney Vacation Club). It meets most of your requirements. I do not own there but most owners seem very happy.

As an added bonus DVC does not work like anything you have learned so far so you have a whole bunch more to read about.

I definitely will. Thanks!

 

[osman]

...
After all that we still bought Marriott, because the resort we most wanted to visit is a Marriott resort in SoCal.

That reiterates an important point for all new to timeshares to remember: buy at the location where you want to go. It's best if you don't have to rely on getting a trade to enjoy your TS. Trading is a nice benefit, particularly if you are flexible in location or dates, but shifting policies or point values could turn an easy trade this year into a difficult trade in the future. Not that Starwood would do anything like that...

--Osman

 

[James1975NY]

There are no weeks at SVR that float 1-52 - someone lied to you.

Here is the Staroption chart that shows the seasons - scroll down until you find SVR.

Couple of things...

- I am not 100% sure but I believe that the Cascades and Lakes owners (if they are going back to home resort) may actually have one season. Other owners that are exchanging into SVR from another resort will be subject to two seasons. Again, not 100% sure here. Or maybe it is the old fixed phases that have the one season as well...again not 100% sure.

Alternatively.....

- If all owners are subject to the two-seasons at SVR, owning in the highest season would mean that you would have access to all 52 weeks of the year.

 

[DeniseM]

Couple of things...

- If all owners are subject to the two-seasons at SVR, owning in the highest season would mean that you would have access to all 52 weeks of the year.

Not during the 12 - 8 mos. owner's preference period, though, right?

Plat season owner could exchange into gold season at 8 mos.?

 

[James1975NY]

Sophie,

Did you mail your recission letter to:

SVO Pacific Inc.
ATTN: Document Administration
9002 San Marco Court
Orlando, FL 32819

If so, you can also fax it to: 407-903-4718. I went through the same process last year and used both fax, USPS and disputed the charge with Amex.

The address was similar, but the recipient company name was Vistana Development, Inc. In any case, I will use the fax number and fax a copy tomorrow from work, bec it was the same ATTN recipient.
Thank you for the tip and for the advice.

I would not use SVO Pacific Inc, but the address is the same.

 

[James1975NY]

Not during the 12 - 8 mos. owner's preference period, though, right?

Plat season owner could exchange into gold season at 8 mos.?

Correct, if they are subject to the two-seasons. Remember, we are talking about sales....they didnt say how or when, just that they had access to all 52 weeks. Not how I would sell it but not necessarily any lies there.

 

[stevens397]

What makes me laugh is that I'm sure everyone on this board never had to read your post. The title was enough for them to open so they could write, "YES - RESCIND IMMEDIATELY!"

 

[yumdrey]

HGVC or Bluegreen

I saw that you are located in Miami, FL, so I would not recommend Worldmark. Worldmark resorts (60+) are mostly located on west coast.
Bluegreen is similar system to Worldmark, and it is not expensive to purchase. Most of their resorts are on east coast.
Also I want to recommend HGVC for you. HGVC has many "affiliated" resort in west FL. so you are close to them.
HGVC is not cheap, but it is cheaper than what you just paid to SVR!
One of the great benefit of HGVC is, they have "Open season", if resorts have available rooms within 30 days, owners pay certain amount of cash (for example, $80 for 1BR, $100 for 2BR, etc..) to use the units.
When I check availability in 9 month booking window, I see almost all resorts/units available except prime ski weeks. HGVC has the best availability than other systems, so owners don't have hassle for reservation. You don't have to call exactly 9am EST to make a reservation (Starwood, Marriott and Four Seasons) or use special trick to reserve a week in popular resort at 13 months mark (Worldmark).
Good luck with your research, and congrats you rescinded at right time!

 

[DeniseM]

Correct, if they are subject to the two-seasons. Remember, we are talking about sales....they didnt say how or when, just that they had access to all 52 weeks. Not how I would sell it but not necessarily any lies there.

So the next line must be, "You also have the opportunity to exchange into all other Starwood resorts like Harborside Atlantis, and Westin St. John!"

 

[grgs]

Couple of things...

- I am not 100% sure but I believe that the Cascades and Lakes owners (if they are going back to home resort) may actually have one season. Other owners that are exchanging into SVR from another resort will be subject to two seasons. Again, not 100% sure here.

This is correct--SVR Cascades & Lakes are 1-52 float for the purpose of owners making a reservation. However, SVN owners at other resorts exchanging are subject to two different seasons with differing staroption valuations.

Glorian

 

[grgs]

The only way to both use your home resort and deposit a week for external exchange within the same year is to own a lockoff (SVR doesn't have lockoffs) and use one half for trading.

Both Cascades and Lakes phases at SVR have lockoffs.

Glorian

 

[Robert D]

Isn't it amazing that Starwood is selling an EOY timeshare for over $11,000 that can be bought for $1.00? I guess they are finding lots of buyers to fleece.

 

[DanCali]

Isn't it amazing that Starwood is selling an EOY timeshare for over $11,000 that can be bought for $1.00? I guess they are finding lots of buyers to fleece.

Well, you do get it with StarOptions if you buy from the developer so you definitely get more...

They are just counting on the fact that you won't care (or don't realize) you lose 100% of your equity 7 days after you buy.

 

[SDKath]

I second the DVC point purchase! With a little kid, you will get many years of use. You can use your points at WDW or in CA at DL, plus they are opening th Hawaii resort in Mid 2011. You can also book cruises on the Disney Cruise Line, which is wildly popular with kids and adults alike!

You can buy as many or as little points as you want and you can travel for a few days or a week or even longer. The flexibility is the best with DVC of any timeshare. As a matter of fact, it doesn't feel like a timeshare to own with them at all. The points have also retained their value more than any other system.

Feel free to send me a private message if you have questions. I cannot say enough about the Disney program. (We just booked a holiday cruise to Mexico for 2011 for free using our points!).

Katherine

 

[LisaRex]

Isn't it amazing that Starwood is selling an EOY timeshare for over $11,000 that can be bought for $1.00? I guess they are finding lots of buyers to fleece.

You only need one $11,000 buyer to make up for 11,000 $1 buyers...

 

[Sophie]

This is correct--SVR Cascades & Lakes are 1-52 float for the purpose of owners making a reservation. However, SVN owners at other resorts exchanging are subject to two different seasons with differing staroption valuations.

Glorian

In my pre-confirmation checklist, it mentioned I was getting "prime" season."
In the purchase agreement, it was labelled "Red."
Then, it occurs that there are only gold and standard platinum season categories in the SVR staroptions chart.

 

[Sophie]

Well, you do get it with StarOptions if you buy from the developer so you definitely get more...

They are just counting on the fact that you won't care (or don't realize) you lose 100% of your equity 7 days after you buy.

From my readings and recent exposure to the Starwood sales speech, the problem I see with Starwood, for someone looking for low initial cost and good trading power for access to multiple locations, is that it is hard to gain full access to the SVN for a resale buyer.Subsequently, I wonder if it is better to turn to a TS point system that does not penalize resale buyers as much. The only good think from the sale package I got was all the incentives and staroptions/starpoints conversion possibility. Now, the question are:
1) What are the actual limitations when buying a mandatory SVO unit resale, considering that Starwood is regularly changing rules unilaterally?
2) The costs and roadblocks incurred when attempting to requalify a voluntary SVO unit bought on the resale market?
This is why I wonder whether turning to HVGC is not a better option for me, as suggested by others, despite the higher cost: more presence in the US, esp. South Florida, does not penalize resale buyers as much, once passing the ROFR roadblock, more stability in MFs.

Any comment?

 

[Sophie]

I saw that you are located in Miami, FL, so I would not recommend Worldmark. Worldmark resorts (60+) are mostly located on west coast.
Bluegreen is similar system to Worldmark, and it is not expensive to purchase. Most of their resorts are on east coast.
Also I want to recommend HGVC for you. HGVC has many "affiliated" resort in west FL. so you are close to them.
HGVC is not cheap, but it is cheaper than what you just paid to SVR!
One of the great benefit of HGVC is, they have "Open season", if resorts have available rooms within 30 days, owners pay certain amount of cash (for example, $80 for 1BR, $100 for 2BR, etc..) to use the units.
When I check availability in 9 month booking window, I see almost all resorts/units available except prime ski weeks. HGVC has the best availability than other systems, so owners don't have hassle for reservation. You don't have to call exactly 9am EST to make a reservation (Starwood, Marriott and Four Seasons) or use special trick to reserve a week in popular resort at 13 months mark (Worldmark).
Good luck with your research, and congrats you rescinded at right time!

Your comments suggest that HGVC would be a better fit for me than Starwood. Not sure about Marriott; has not been on my reading list!
Now, I definitely want to know more about Bluegreen...

 

[Sophie]

I second the DVC point purchase! With a little kid, you will get many years of use. You can use your points at WDW or in CA at DL, plus they are opening th Hawaii resort in Mid 2011. You can also book cruises on the Disney Cruise Line, which is wildly popular with kids and adults alike!

You can buy as many or as little points as you want and you can travel for a few days or a week or even longer. The flexibility is the best with DVC of any timeshare. As a matter of fact, it doesn't feel like a timeshare to own with them at all. The points have also retained their value more than any other system.

Feel free to send me a private message if you have questions. I cannot say enough about the Disney program. (We just booked a holiday cruise to Mexico for 2011 for free using our points!).

Katherine

Hi Katherine,

I had written you a long email backchannel, but I think it got lost in Cyberspace. So, I will post a short version publicly:
We have been happy cruisers with Carnival for the last two years. I would consider Disney Cruises, if they were cheaper and not from Port Canaveral (I know, I am spoilt, living in Miami!). In any case:
How much is a DVC point? How many points are necessary for a cruise? for a two or three 3-nt weekends in Orlando? I have seasonal passes, so I would never book more than 3-nt stays in Orlando.
Otherwise, we have one big trip (e.g., Europe, Peru) or a couple of cruises per year. We have slowed down on the faraway trips, due to budget restrictions. Hence, that Orlando year so far (4 trips scheduled between Nov 2009 and May 2010).
Thanks for offering guidance.