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What are my odds of selling my Marriotts in this market?

icydog

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I have several Marriotts that I have just listed today for sale. Because of my husband's advancing years, and my health, we can't use all of our Marriott timeshares going forward. I am upset that I have to sell them, much less when prices are so deflated. It is making me a little crazy in fact-- but it has to be done. Do you think with the market being this way, and people being laid off left and right, that I have a snowballs chance of selling them? Any tactics I can utilize? I think I have them priced correctly for a quick sale but I will never, ever, go the ebay route again ( just in case anyone wanted to suggest that)

How's this Dave. Is this okay?
 

london

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Marriott Resale Market

I think the market for Marriot timeshares will always bring a premium price.

However, with the economy now, prices will be depressed for quite some time.

Good luck with your sales. IMHO
 

JimC

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My best wishes for you and your husband.

I believe the market is depressed in terms of volume and pricing. If the credit markets for homes and cars are severely restricted; then the market for timeshare credit will be a magnitude worse. That would leave you with only that portion of the market who can pay cash.

Get the very best broker for your timeshares and listen to their advice. Seth Nock is certainly on anyones best broker list. You need to think carefully about how patient you can be with the market and low ball offers against any urgency you have to sell.
 

tombo

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Marriott has the best quality resorts of any timeshare organization in my opinion (I do hate that they have ROFR though). They will consistently bring more money than any other timeshares on the resale market. Having said that, prices for all resales at all resorts have never been lower. It is a really bad time to sell.

In my opinion redweek.com, myresortnetwork, craig's list, and TUG classifieds are your best chances of getting a decent price for your weeks. E-bay is the best place to advertise if you want a quick sale, but prices are usually lower. Who knows what the future will bring, prices could go even lower and selling weeks might become impossible, but if it was me I might hold on to them for a little longer and hope the economy improves. Many Platinum weeks are selling for $5000 or less at numerous Marriott locations. It is a great time to buy, but a really bad time to be selling.
 

GregT

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Marylyn,

I'm sorry that you are selling your timeshares, but I respect your reasons and decision.

If I was going to sell my Marriott timeshares, I would list them on eBay, but with a reserve. You will go where the buyers are and and will be able to live with your rock bottom price.

Frankly, I think we are only seeing the tip of the iceberg with respect to our economy and eBay buyers may not yet realize that ROFR is a thing of the past -- and then we may see really cheap prices for Marriotts.

So, if I was selling, I would do it before MF's come out in a few months, and I would do it as fast as possible.

Good luck to you both....and please stay with TUG even after your last Marriott has sold????!!!!!

All the best,

Greg
 

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There is no doubt that the current world financial situation is impacting timeshares the same way that it is impacting the broader real estate market. We bought our first timeshare because we felt it was the most economical way to assure our family of 5 great vacations year after year and I think that holds true, no matter what the market is doing. While I can't afford to take our family to some $1000/night resort every year, I am comfortable making the yearly MF payment and paying the small loan that we have. So, up or down market, I still think that timeshares are attractive and might be even more attractive in a down market when people are really evaluating their yearly expenses. We have a relatively small # of DVC points, and I remain in the market looking for an EOY Marriott to complement that. If ROFR is really not being exercised, then it's a great time to be a buyer. If you are satisfied with the use and value that you have gotten out of your TS over the period you have owned it, then sell at whatever price you can get and get out of the MF commitment. If that rubs you the wrong way, then hold on for a few years, try and rent your weeks on Redweek and you should be able to cover your MF that way.

We should all look at TS as a pre-paid vacation, not an investment. If you feel that you have gotten your value in terms of vacation days out of the $$$ you put down, then you are not selling at a loss.
 

KathyPet

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Are any of your units in resorts that are sold out? if so you may want to talk to Marriott resales to see if they can list any of them for you. Marriott obviously has the best ability to reach potential resale buyers. They might be able to get you a quicker sale. You can still try to sell them yourself and also have them listed with Marriott so that you are trying all routes to a sale.
 

icydog

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Marriott has the best quality resorts of any timeshare organization in my opinion (I do hate that they have ROFR though). They will consistently bring more money than any other timeshares on the resale market. Having said that, prices for all resales at all resorts have never been lower. It is a really bad time to sell.

In my opinion redweek.com, myresortnetwork, craig's list, and TUG classifieds are your best chances of getting a decent price for your weeks. E-bay is the best place to advertise if you want a quick sale, but prices are usually lower. Who knows what the future will bring, prices could go even lower and selling weeks might become impossible, but if it was me I might hold on to them for a little longer and hope the economy improves. Many Platinum weeks are selling for $5000 or less at numerous Marriott locations. It is a great time to buy, but a really bad time to be selling.
This remark really frightens me. Where can you buy platinum Marriotts for $5K. Isn't Marriott exercising ROFR anymore?


Are any of your units in resorts that are sold out? if so you may want to talk to Marriott resales to see if they can list any of them for you. Marriott obviously has the best ability to reach potential resale buyers. They might be able to get you a quicker sale. You can still try to sell them yourself and also have them listed with Marriott so that you are trying all routes to a sale.
Yes, they are in a sold out resort, at least I think the resort is sold out. If I sell them with Marriott as a broker won't I take a very big hit.

There is no doubt that the current world financial situation is impacting timeshares the same way that it is impacting the broader real estate market. We bought our first timeshare because we felt it was the most economical way to assure our family of 5 great vacations year after year and I think that holds true, no matter what the market is doing. While I can't afford to take our family to some $1000/night resort every year, I am comfortable making the yearly MF payment and paying the small loan that we have. So, up or down market, I still think that timeshares are attractive and might be even more attractive in a down market when people are really evaluating their yearly expenses. We have a relatively small # of DVC points, and I remain in the market looking for an EOY Marriott to complement that. If ROFR is really not being exercised, then it's a great time to be a buyer. If you are satisfied with the use and value that you have gotten out of your TS over the period you have owned it, then sell at whatever price you can get and get out of the MF commitment. If that rubs you the wrong way, then hold on for a few years, try and rent your weeks on Redweek and you should be able to cover your MF that way.

We should all look at TS as a pre-paid vacation, not an investment. If you feel that you have gotten your value in terms of vacation days out of the $$$ you put down, then you are not selling at a loss.
Of course you are right, but there is a point where you physically can no longer vacation as much as you did at one time. That is where we are now. I am not selling all my timeshares but I am going to make drastic cuts to our portfolio and perhaps keep only one or two. I own a lot of Disney points, and BG points, as well as many Marriotts, and while they served our purposes for many years, it is time to hang up the suitcases so to speak.



Marylyn,

I'm sorry that you are selling your timeshares, but I respect your reasons and decision.

If I was going to sell my Marriott timeshares, I would list them on eBay, but with a reserve. You will go where the buyers are and and will be able to live with your rock bottom price.

Frankly, I think we are only seeing the tip of the iceberg with respect to our economy and eBay buyers may not yet realize that ROFR is a thing of the past -- and then we may see really cheap prices for Marriotts.

So, if I was selling, I would do it before MF's come out in a few months, and I would do it as fast as possible.

Good luck to you both....and please stay with TUG even after your last Marriott has sold????!!!!!

All the best,

Greg

I don't think I can do another ebay auction. I had three RHC up for sale and the outcome has been disastrous. Of the three of them I had to relist them all twice and only really sold one. The last one the buyer is trying to renege after 2 + weeks and after paying me. And for this honor I paid outrageous ebay listing fees. It seems like a bottomless pit to me. I hate the whole process.


Thanks to everyone for their great advice.
 

tombo

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Icydog said:
"This remark really frightens me. Where can you buy platinum Marriotts for $5K. Isn't Marriott exercising ROFR anymore?"


These are some recent sales that weren't ROFR'd on Dioxides list http://dioxide45.tripod.com/cgi-bin/rofr.cgi . All of these sales were in August and things have gotten worse since then. Many Marriotts on e-bay are selling for less than $5000, and they are being purchased by buyers who don't post here on tug, so they don't know or care about posting what they paid on this site. Marriott appears to have ceased ROFR. The e-bay prices are lower than I have ever seen for every resort. As you said yourself, you tried to sell 3 weeks and there were no takers. Here are recent examples posted by people who know about the ROFR database web site, and none of these were ROFR'd:

Bob 2008-08-30 Marriott MPD-CA, Palm Desert, Desert Springs Villas II Platinum EOY 2BR N/A $5,000 Passed
WSB 2008-08-29 Marriott MCV-AZ, Phoenix, Canyon Villas at Desert Ridge Gold Annual 2BR N/A $4,100 Passed
SensWin 2008-08-29 Marriott MGV/MGR-FL, Orlando, Grande Vista Platinum EOY 2BR N/A $5,000 Passed
DJensen 2008-08-29 Marriott MSE-VA, Williamsburg, Manor Club at Ford's Colony II Platinum Annual 2BR N/A $10,500 Passed
SE 2008-08-26 Marriott MMO-HI, Maui, Maui Ocean Club Platinum EOY 2BR Ocean Front $23,000 Passed
John 2008-08-25 Marriott MHB-MO, Branson, Horizons by Marriott Vacation Club at Branson Platinum Annual 2BR N/A $2,800 Passed
Jason 2008-08-22 Marriott MCP-FL, Orlando, Cypress Harbour Sport Annual 2BR N/A $4,200 Passed
Pat 2008-08-21 Marriott MHB-MO, Branson, Horizons by Marriott Vacation Club at Branson Platinum Annual 2BR N/A $4,780 Passed
frankhi 2008-08-20 Marriott MMO-HI, Maui, Maui Ocean Club Platinum EOY 1BR Garden View $6,900 Passed
David Pearson 2008-08-18 Marriott MSE-VA, Williamsburg, Manor Club at Ford's Colony II Platinum Annual 2BR N/A $8,000 Passed
RMI 2008-08-06 Marriott MPD-CA, Palm Desert, Desert Springs Villas II Red Annual 2BR N/A $8,500 Passed
RMI 2008-08-04 Marriott MCV-AZ, Phoenix, Canyon Villas at Desert Ridge Gold Annual 2BR N/A $4,210 Passed
 
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icydog

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YIKES!!! They are not exercising ROFR at all anymore? It is a free for all now? When did this start?
 

Dave M

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The timeshare market has deteriorated. As Marriott announced last week, its timeshare sales have slowed:
The timeshare business continues to be impacted by tight credit markets and increasingly negative perceptions of residential real estate. Third quarter Timeshare segment contract sales declined 13 percent to $306 million largely due to lower sales of timeshare and residential products....
As Marriott's timeshare sales have slowed, its need to acquire more inventory from resales has also slowed or perhaps even come to a halt. That means that more resales are allowed to pass ROFR at lower prices than in the recent past. When that will change likely hinges on the timing for an economic turnaround.
 

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I am in the process of selling my aruba surf club gold gardenview . I tried selling it on ebay and listing it here on tug for 15k to no avail. I had given up on selling it when someone posted that they had sucess selling on http://www.vacationtimesharerentals.com/ so I threw it on there and bam ! it sold in a couple of weeks. it is a free site and I would recomend posting them on all the free sites that you can . and stick to your guns because you will get some low ball offers . I just tell them thanks for your interest but no . I was not in the position where I had to sell but I wanted to buy a week at a resort in the fl keys and in order to do that my wife said I had to sell one of the other ones . by the way I paid 13,900 for my unit 5 yrs ago so I made money on it which is always a plus . good luck
 

icydog

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I am in the process of selling my aruba surf club gold gardenview . I tried selling it on ebay and listing it here on tug for 15k to no avail. I had given up on selling it when someone posted that they had sucess selling on http://www.vacationtimesharerentals.com/ so I threw it on there and bam ! it sold in a couple of weeks. it is a free site and I would recomend posting them on all the free sites that you can . and stick to your guns because you will get some low ball offers . I just tell them thanks for your interest but no . I was not in the position where I had to sell but I wanted to buy a week at a resort in the fl keys and in order to do that my wife said I had to sell one of the other ones . by the way I paid 13,900 for my unit 5 yrs ago so I made money on it which is always a plus . good luck
DONE. I forgot about that site. I used to rent my NYC weeks on that site with great results. Thanks a lot.
 

dioxide45

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You are not only selling at a bad time, you are selling at probably the worst time in the past 30 years. As suggested above, if the resorts are sold out, call Marriott and at least get on their list to have them sell your unit. If you sell your unit, you call them back to take you off. They will sell it for their full price and keep 40%. The 60% you net will likely be above what selling on the resale market will net.
I would do this no matter what, keep all options open. There is also a chance that Marriott has a waiting list of buyers for the resorts you are selling and will be willing to buy the week from you.
 

KathyPet

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For sold out resorts Marriott sells for their top price and then takes their 40% off of that. So it depends on what you paid. For example they recently sold my Barony Beach gold week for me. They sold it for approximately 23000 and then took their 40% so I netted after closing costs $12950.00 That was a little less than what I paid for it but they found me a buyer very quickly and I did not have to try to negotiate the deal myself. It certainly would be worth a call to Marriott resales to see if they are taking resale listings at any of your resorts and what their selling price would be. That way you can deduct the 40% commission and see what you would net from the sale. You could list the unit with them and also keep trying to sell it through TUG or Redweek or whereever you have it curently listed. If you sell before they do simply cancel the listing with them. Like I said it is worth a phone call to find out.
 

capjak

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recent ebay sale

item=310088449361

Marriott Manor Club=$5976 Platinum

item=130259472976

Marriott Cypress Harbor Plat=$5600
 

dmharris

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Marylyn,

Would this be an option? Rent the resorts you do not want to visit to cover your maintenance fees, then sell when the real estate market picks up; if you can wait that long.
 

sernow

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Agree with dmharris. Rent out the weeks this year and sell some other time. Or go Marriott route, and get on the waiting list if they're doing resales. You don't want to sell in this market. People are completely irrational. Great weeks are being stolen right now on eBay.
 

dioxide45

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Agree with dmharris. Rent out the weeks this year and sell some other time. Or go Marriott route, and get on the waiting list if they're doing resales. You don't want to sell in this market. People are completely irrational. Great weeks are being stolen right now on eBay.
I wouldn't say "or go the Marriott route". I would use "and".
 

Zac495

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I'm sorry you're in the position you must sell. I'm sure you used them many times and made beautiful memories. Remember, each of those vacations was worth a lot of money (more if you count memories as money), so it's okay to sell them for less. :) Good luck! I, too, would call Marriott.
 

tombo

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Renting your weeks for MF's or profits was a good choice a couple of months ago, but all of that has changed. Weeks for rent are going without any offers even when one only tries to rent them for the cost of MF"s. Just look here on TUG at the huge number of last minute rentals which can only be listed for a maximum of $700. Many weeks are not being rented at all for any price when the owner says "make an offer". In 2007 I had to bank one of my rental weeks that didn't rent. In 2008 I had to bank 5 weeks I couldn't rent, and the 2008 weeks I did rent were contracted in January, February, and March before times got real bad. I only contracted one week in April, May, or June (for labor day week on the beach).

I am very worried about next year because I own many weeks more than I can use each year, and in the past I simply rented locations I did not use that year. It is possibly the worst time ever to sell weeks, but if I can't rent them or use them I might sell several of my weeks for any price I can get just to get out from under MF's. In 2007 I took 5 weeks vacation and all 5 weeks were free paid for by my rentals with some spending money left. This year I took 5 weeks vacation, I had to bank 5 weeks that didn't rent, and I did not nearly cover all my MF's from the weeks I did rent. If the trend continues or gets worse next year we will be lucky to rent any week anywhere for what our MF's cost us. :bawl:
 
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MOXJO7282

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This is what I would do. I would be patient and as soon as I could secure the highest demand week for each week you are looking to sell.... then list them for sale. Sales are much more successful if you have a good week attached to them. If the owner can't use, he would be able to rent a good week.

Personally I haven't had a problem renting my units. I rented my gold GO and Maui weeks over the last few months. I believe the one thing most people will not give up is vacationing in the US. People may stop going off the "mainland" but from the research i've seen, people do not give up their vacationing very easily, especially if it is a driving trip to a TS resort that can save them money in the long run.

Unless you have financial hardship and need to sell immediately, I'd wait and be patient. Just like your home and the stock market you never want to sell in a down market if you can avoid in any way.

Regards.
Joe
 

tombo

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Please tell me what web site you are using to rent your weeks. My experiences this year with rental weeks aren't good and I will gladly use different sites to advertise my rentals and sales to get more responses and better results.

I am afaraid that there are plenty of facts to show that you are mistaken to think that Americans won't give up vacations in tough times. Most Tuggers might not give up their vacation trips, but most Americans will under current economic conditions (weak dollar, high air fares, highe fuel, etc.). I have posted just a few of the 1000's of articles detailing the current poor tourism trends. Please post any recent travel news you have with good current news or with positive predictions for the foreseeable future. I could use some good news.

http://scaredmonkeys.com/2008/06/22/economic-slow-down-spells-tourism-worries-for-caribbean-aruba-puerto-rico/

http://money.cnn.com/2008/07/02/news/economy/gas_price_poll/index.htm

http://www.hotel-online.com/News/2008_Sep_30/k.HHT.1222800125.html

http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=/20080827/NEWS01/808270409/1001
 
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