What's my time share worth?

[BillO]

Hello All. I have a two bedroom lock-off [in Bermuda that is a summer week, in RCI, and is a RTU that expires in 2026.] Anyone have any thougths on what this is worth?

Thanks,
Bill


[Specific details removed so the post isn't perceived as advertising. - DeniseM Moderator]

 

[DeniseM]

Hi and welcome to TUG!

Right now the resale market has really dropped, because many people cannot afford their maintenance fees and/or they cannot afford to travel. So the market is flooded with timeshares that people just want to get rid of.

The top timeshares like Starwood, Marriott, and Hyatt, are selling for 50% or less of retail, the mid level timeshares are selling for 10-20% of retail, and you can't even give away the bottom tier of TS's right now.

I am assuming your next question may be about how to sale your TS, and I am going to kind of preempt you, and let you know that while we are glad to help you, you can't post specifics about your ownership here, if you are trying to sell it - we have a strict no advertising rule here.

For lots of info. about how to sell your timeshare, look at the article at the top of this forum - "how to sell your timeshare."

In addition to the free TUG Marketplace I personally use these cheap or free websites to post my Ads and find Comps. If you really want to sell this TS, in this economy, you need to price it just a little below everyone else.

www.craigslist.org (free)

www.redweek.com
* Membership $14.99 for 12 Months
* Timeshare Rental Postings - $19.99/ea for 6 Months - $49.99/ea for 12 Months

www.myresortnetwork.com
$19.95 posting fee ($24.95 for a float week ad)


Goiod luck!

 

[Bill4728]

On redweek.com, sellers seem to be asking about $9,000 for a 1 bd the same week. A 2 bd should be worth more.

Please be aware that all TS prices are way down from last year and the prices on Redweek.com are just the asking price.

Good Luck and welcome to TUG

 

[post-it]

Denise,

You mention mid-level timeshares, how do you know where each time share falls? Is there a listing?

 

[DeniseM]

There is no listing - it's just an experience/opinion kind of thing. The top resorts include the Hotel Systems for the most part, DVC, and a few top stand alone resorts. I was just trying to give the OP a general idea of what prices are like now...

I use the TUG Ratings a lot, to determine the quality of a resort. Here are the top 30 as rated by Tuggers.

When you go to each geographical area in the reviews, you can sort them by rating by clicking on the rating heading.

 

[Hoc]

On redweek.com, sellers seem to be asking about $9,000 for a 1 bd the same week. A 2 bd should be worth more.

The key word in that sentence is "asking." Normally, when it comes to timeshares, what sellers ask bears absolutely no relationship to the actual selling prices of timeshares that sell. If there are any actual prices of sales that went through, those are what the OP needs to know.

 

[ecwinch]

The key word in that sentence is "asking." Normally, when it comes to timeshares, what sellers ask bears absolutely no relationship to the actual selling prices of timeshares that sell. If there are any actual prices of sales that went through, those are what the OP needs to know.

I think Bill covered that later in his post.

 

[DonM]

Billo:

Bermuda is beautifull- been there many times both at St George's Club and elsewhere.

Specifically St George's Club is well done- but IMHO a drawback is that it is not centrally located. (The high speed ferry helps to minimize this issue)

My biggest problem is the m/f's. While this is usually a bargain for Bermuda one has to really visit every year and not exchange, since it doesn't make financial sense to be spending close to $2K on m/f and going to say Williamsburg! (This year is an exception- due to the economy there are all types of bargains - I just reserved a harbor view balcony suite at the Hamilton Princess for less than $250 a night- a 60% savings)

Another downside to the value is the closing and transfer fees are very high as I recall.

I have seen more than once auctions on ebay for Bermuda that have attracted no bidders- with the biiding starting at $1 with no reserve. On one occasion the auction also included the seller paying all of the closing and transfer costs. I believe that one did sell for $1

My advice is to enjoy Bermuda unless you get a motivated buyer. It really is quite a nice t/s, and again it's usually a bargain by Bermudian standards.

don