To sell or not to sell??

[Travelnut96]

This may seem a bit confusing, but please bear w/ me. Let me give you a little background. I have been a TS owner for approximately 7 yrs now and up until now, I feel like I had a fairly good resort to exchange with. Currently we own in Kissimme FL, Celebrity Resorts World Spas - 3 bedroom unit, fixed week 5. Mortgage is free and clear, only paying annual MF's. Thank goodness for that! :whoopie: After reading lots of information on this forum, I've come to the conclusion that perhaps I should consider selling (if that's even possible in this economy) and try to purchase another one (re-sale of course) under the Starwood umbrella. We just recently became SPG members, and were very much drawn to the whole brand name and all the good stuff they have to offer owners.

I feel like I'm at the bottom of the barrel when it comes to exchanging into really good resorts with at least a 6 month travel window. Seems like with Interval, I have to wait for the 59 day flexchange and hope that a good trade with a high quality resort pops up. Sometimes it's worked, and sometimes not. I feel as though I've been missing out on something better for me and my family all these years.

So after all that, I'm wondering what to do with my current resort. Sell or not? Thanks to all of you for your help! I really would appreciate any feedback.

 

[James1975NY]

I would first learn about the Starwood program from talking to other members and also reading the post-it (sticky) with owner information.

On the resale market, you should expect to get about $500-$1500 on the sale of your Celebrity resort so I also suggest that you chat with other Celebrity owners and talk about how they have been able to maximize their ownership.

Lets assume you do want to move forward with selling your Celebrity and picking up a Sheraton Vistana Villages ownership or a Westin Kierland Villas (these two properties are most popular on the resale market because of their cost).

If you sold the Celebrity for $500.00, you would probabaly look to spend around $6-$10k on the resale market for the Vistana Villages or Kierland depending on what type of ownership would work best for you.

 

[DeniseM]

If you bought it from the developer, you will only get a fraction of what you paid for it. Even if you bought it resale, the market is really bad right now and you probably won't get what you paid. Even if you decide to buy a week elsewhere, you might want to hang onto the week you own and figure out how to get more out of it, rather than taking a huge loss. For instance, you could rent it, or if it's not a good rental you could deposit it with one of the other exchange companies.

 

[Travelnut96]

True, I know I won't get back what I paid. But before I even think about buying something else, I do have to sell no matter what. I really rather not own two properties. I like to keep things simple in my life.

In the meantime, I am going to hold onto the week I own and make the best of it. I usually deposit my weeks w/ Interval and try to exchange elsewhere. Renting out a week has become much more difficult these days, but I will keep trying to do so if necessary.

James1075NY: Have any idea where could I find other Celebrity owners to chat with? Seems like there aren't many on here.

 

[falmouth3]

There is a Celebrity group on Yahoo.

Sue

 

[James1975NY]

True, I know I won't get back what I paid. But before I even think about buying something else, I do have to sell no matter what. I really rather not own two properties. I like to keep things simple in my life.

In the meantime, I am going to hold onto the week I own and make the best of it. I usually deposit my weeks w/ Interval and try to exchange elsewhere. Renting out a week has become much more difficult these days, but I will keep trying to do so if necessary.

James1075NY: Have any idea where could I find other Celebrity owners to chat with? Seems like there aren't many on here.

You may also want to try Timeshareforums.com I see some owners there as well.