Thinking about Sheraton Broadway Plantation - Help!!

[Aussiedog]

Hello all - I have just become interested in TS and just joined TUG and I am learning sooo much. Thanks in advance for your help.

I am looking at a 2bd, non L/O, annual, fixed week, summer season resale in Sheraton Broadway Plantation. We will probably use it half the time and trade the other time. I know we will be trading via RCI and not Starwood, which is OK with me as we are really off-season travelers anyway.

So here is my amateur-hour set of questions (it's OK to chuckle at these)-
How do I get a site map that shows where the actual units are? I checked the website and called the resort - obviously no help there since I am not buying from them!
How can I figure out what a fair price is? current pricing in the resale market ranges from $9k to $15k for the same type of unit during the same weeks!
Finally, I was surprised to see that for the same type of unit, the MFs vary from a reported $500 to over $750. How can that be?

Again, thanks for any help.

Ann

 

[DeniseM]

That price sounds high to me. I would research prices for at least 3 mos. before I bought. Sign up for notification on ebay when Ads for this resort are listed. I would also look at similar properties in the area - you can also use the search function on ebay to do this.

This is not one of the more popular Starwood timeshares, because it's not on the beach and it's not mandatory. If you are going to buy a Starwood TS, did you know that if you buy at a mandatory Starwood resort, you will get Staroptions (even on a resale) and the ability to exchange within the Starwood system? Here is more background on Starwood and an explanation of "mandatory."
TUG Starwood Article

Here are my other recommendations for a first TS:

For your first timeshare:

Buy resale

Buy where you want to go at least half the time, or buy 2 every other year resorts - like one in the mountains and one on the coast.

Buy a 1 bdm. minimum - or a 2 bdm. if you have a family (easier to rent/exchange)

Buy a popular season for that area (easier to rent/exchange)

Buy a resort that has some demand for rentals and exchanges (easier to rent/exchange)

Buy within driving distance of your home - you may not be able to afford airfare some years

Buy a TS you can afford to pay cash for - it’s a luxury, it shouldn’t be financed.

Know what the maintenance fee is - make sure it won’t be a financial burden. They often come due around Christmas.

Check on special assessments coming up - you often see a lot of “great deals” for resorts with a heavy assessment coming due soon.

Don't buy with the expectation of making a profit by renting your unit, or getting glorious exchanges to resorts far superior to the one you own.

Exchanging gets more frustrating all the time, so you are much better off buying where you want to go. That's why I suggested 2 every other year TS's. That way you have variety, security, and the perks that go along with ownership.

Before you buy, become an ebay expert. This is what we paid for our last 4 purchases on ebay:

Scottsdale - Sheraton Desert Oasis (Starwood) $2,000
Tahoe - Kingsbury Crossing - $255
Kauai - Pahio Kauai Beach Villas, ocean FRONT - $1,300
Kauai - Pahio Kauai Beach Villas, ocean FRONT - $1,500

There are some great deals out there - take your time, do your homework, and you will find them. Good luck!

 

[Aussiedog]

Mahalo Denise!

I think you hit it on the head. I am too impatient and trying to go too fast.

I will say though, that having been one of the first people to fly into Myrtle Beach after Hurricane Hugo, there is something to be said for not being right on the beach!! I imagine those assessments were breathtaking.

But your cautions are really very helpful and I will try and sit on my hands for awhile instead of hitting that "make an offer" button!

Ann

 

[jerseygirl]

Ann,

This resort is in very high demand, despite its location, during June, July and August. And, the price and maintenance fees can't be beat. I own several units there and the typical ebay price for a 2-BR platinum is ~$3000. However, every year, prices drop in the fall as "maintenance fee season" approaches, which is reflected in this recent auction, where someone picked up a great buy:

http://cgi.ebay.com/2-BR-SHERATON-M...ryZ15897QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

For the years you want to use the resort, be sure to call as soon as the weeks are available to book, because they go quickly. As far as trading is concerned, I only use II (and occasionally SFX), so can't comment on RCI. (Unless you already have an RCI account, you might not be able to trade there since Starwood has gone "all II.") With II, Starwood controls the deposit weeks and on those off years, when you intend to trade, you run the risk of being assigned a lousy week for deposit. The original phase has a really long platinum season (weeks 9-43, 47) and the shoulder weeks do not have great trading power. When you're lucky enough to be assigned a "good week," the trading power is excellent (I recently traded a one-BR platinum for a 2-BR mid-May week at Westin St. John, and my one-BRs can always see the Harborside and Maui deposits too -- even most of the 2-BRs ). If you can live with the "deposit risk," Broadway Plantation is a great buy.

Starwood made drastic changes to the seasons with the new phase. Platinum is now 24-35. All are great weeks (yes ... hurricane possibility, especially toward the end, and southern kids back in school, so there might be a small dropoff in trading power for the last couple of weeks but they will still do okay). I can't wait for those to start showing up in the resale market (but don't expect a ton of availability during the early "bought to use" years)!

Hope this helps.

 

[Aussiedog]

VERY helpful.

You are confirming my suspicion that the resales currently on the market are on the high side, and I also need to keep my powder dry and keep learning from the folks on this board!

Thank you!

Ann

 

[GrayFal]

VERY helpful.

You are confirming my suspicion that the resales currently on the market are on the high side, and I also need to keep my powder dry and keep learning from the folks on this board!

Thank you!

Ann

I also don't believe there is a fixed summer week ownership - they all float.

Here is the link to the Starwood ownership info http://www.starwoodvacationownership.com/index.jsp

 

[RLG]

You are confirming my suspicion that the resales currently on the market are on the high side,

I'm not sure where you are seeing the prices you quoted in the OP. Those aren't just "on the high side" they are so off market they are a joke.

My suggestion if you want SBP is not to waste your time with sellers on Redweek, etc. Most of those are financially unsophisticated people who got conned by slick talking salesman and legitimately have no idea that their timeshare is worth a tiny fraction of what they paid.

SBP comes up for sale all the time on Ebay. The 2BR platinum weeks are less frequent, but come up occasionally. Put in a 4k proxy bid. You'll win and will most likely pay much less than that.

Finally, I was surprised to see that for the same type of unit, the MFs vary from a reported $500 to over $750. How can that be?

The MF's for a 2 BR non LO was $616.67 last year. It's the same for every 2 BR non LO available on the resale market. (The new phase is different.)

The reasons the quoted MF's vary so much is the sellers are lying/careless/uninformed. You pick.

 

[Aussiedog]

Thanks for the info.
You would be amazed at the pricing and the ads are from all over, lots of different sites. I am exploring other options for a TS now.
You have all been terrific. I continue to learn thanks to this crash course in TS boot camp!

Ann