What's the lowest anyone has gotten a WKORVN resale?

[hvanv0405]

I was just wondering what the lowest price anyone has paid/or seen for resale in Maui. . .

The absolute cheapest price anyone has found for the Westin Kaanapali Ocean Resort Villa's North regardless of view?

What would be considered an absolute steal? Just wondering because I "Might" be in the market to start looking to add EVEN years to our current ODD years and what would be a "basement bargin price" other then someone just handing over their deed for the cost of maintenance fees. (does that ever happen to anyone?)

My step-mom worked 25 years at Stoneridge in Blanchard, ID and had a regular owner, who lost her husband & didn't want to keep paying the fees, give her there deed for Stoneridge (but i'm not sure which group that is part of) but still a free deed is better then paying for one right? I think their fees are around $500. . . and they live in Blanchard on the golf course so pretty much use it for exchanges.

 

[DeniseM]

Since most people bought from the developer and paid big bucks for WKORV and WKORVN, I doubt that anyone would be willing to let it go for free. I know that I paid $45K preconstruction for a 2 bdm. The lowest 2 bdm. price I've seen is $27K at WKORV for an Ocean View EY unit.

What did the Stoneridge units sell for originally and how old is the resort?

 

[hvanv0405]

I'm not sure on the Stoneridge resort.

I've seen some listings (here on Tug's Market place) asking $14,250 for a 2bd Island Villa. . .

but the main reason I asked is i'm the high bidder on this ebay listed, but i'm a little nervous about winning it and guessing i'd probably be out bid anyways but then again with the stock market on the fritz people might not want to spend any $.

This states Oceanview and I asked the seller what the reserve was and was told $7500.

http://cgi.ebay.com/ws/eBayISAPI.dl...57789&_trksid=p3907.m32&_trkparms=tab=Bidding

I was wondering how high most people might guess the bidding could go.

 

[LisaRex]

Who knows, in this economy? Bid as high as you're willing to go and then be patient. Incredible steals might not pass ROFR.

 

[hvanv0405]

so now that i've announced my bidding and shared with everyone here where its listed do you think i've hurt my chances

 

[capjak]

Most tuggers that are interested in this resort already follow all the ebay listings, so I do not think it matters.

A great price on a EOY ocean view would be 12,000 or less.

 

[falmouth3]

so now that i've announced my bidding and shared with everyone here where its listed do you think i've hurt my chances

You might want to consider using a sniping service, such as esnipe.com. It will put in your bid within the last few seconds. Enter the highest amount you are willing to pay. Just like any auction, the lowest winning bid takes it. That way you will ensure that you won't get carried away and get in a bidding war. If you win, congratulations, if you don't, try again.

BTW, if you are the high bid and you've maxed out to your highest bid, you could lose out in the last few moments as the more experienced bidders don't signal their intentions until the end. And many, if not most, snipe.

Good luck!

Sue

 

[James1975NY]

In my experience, ROFR is basically all but abandoned. Of course, I am sure Starwood would buy back if the price was ridiculous.

Island Views at WKORN (EOY) are selling today for around $14k give or take some (plus closing). Of course, there are some exceptions.

 

[hvanv0405]

I've been on ebay since nearly the beginning, i fully understand the bidding and pretty much the highest i wanted to pay was the reserve

I don't have a NEED to own Even years, just figured if at $7500 it would be a nice addition. . .i doubt i could even get my finace to agree the maintenance fees would be worth it but i guess if I get it for $7500 then he'll have to

 

[capjak]

I've been on ebay since nearly the beginning, i fully understand the bidding and pretty much the highest i wanted to pay was the reserve

I don't have a NEED to own Even years, just figured if at $7500 it would be a nice addition. . .i doubt i could even get my finace to agree the maintenance fees would be worth it but i guess if I get it for $7500 then he'll have to

Don't worry you will not get it for 7500. That would be a great price and regarding MF fees you could rent it without a problem for more than the MFs,

 

[hvanv0405]

Oh i'm sure it would rent for the maintenance fees but one would need to factor in the cost of paying a monthly mortgage for 2 years (for that one week usage).

At $200 monthly payments for 2 years + $1758 in maintenance fees it's costing over $6500 and they aren't renting for that. .i just rented a 2 bd ov for $2500 for the week.

 

[hvanv0405]

Phew, i'm safe

Thankfully i was outbid before my fiance found out i was bidding and shot me

 

[LisaRex]

I know you're joking, but you might have figuratively missed a bullet, if not literally. I know that it's really none of my business, but I hope that you will listen to a stranger, who has absolutely no agenda other than to give you the benefit of my age. I implore you to stop, take a deep breath, and think what you're doing.

#1) In another thread, you mentioned that your fiance is already stressing about making the MFs on your EOY purchase. Have you sat down and gone over the budget with him to see if this concern is legitimate? If not, please do this before you get married so that you can both start a new life with common goals. One of the biggest stresses in any marriage is money.

#2) In this thread, you mention the mortgage on your TS. Any money manager, from Suzi Orman on down, would advise you to not put frivolities on terms. If you really, really want this property, then save up for 2 years and buy it outright. Otherwise, if you have to put it on terms, assume you can't afford it.

#3) How would you feel if your fiance started making carte blanche decisions about your finances without consulting you?? I'm amazed that you'd buy something so expensive without discussing it with the person who will share the debt. That's not mature nor is it particularly nice.

My advice is kindly meant. I hope you take it in the spirit it is given. And with that, I'll shut up.

 

[hvanv0405]

People have $15K to $50K to save over two years and buy things?

I must be in the wrong crowds because with bills, kids, house or rent, and/or car payments, I don't know anyone that can save that amount of money in two years. I mean, even with most of our house paid off we can't save anywhere close to $30K at the end of two years. In my dreams it'll happen someday but definitely not in the near future.

oh and he knows fully well about the ebay auction. . most of that is meant in jest. . we don't keep anything from each other. He covers the house payments I cover the home equity loan so really it would just be an extra payment on my end.

 

[DeniseM]

I agree with Lisa - take your time and check out the whole TS Market. There are some incredible bargains out there if you don't have to have Starwood. Last year I bought two ocean front units on Kauai with gorgeous 180º ocean views for $1,300 and $1,500 on ebay. When you look at $45K for ocean front at the WKORV vs. $1,500 at another resort, it's not a hard decision to make. And I bet you can save $1,500 in a year with no problem!

 

[hvanv0405]

i'm pretty much just looking at starwood because we use the starpoints for all other travel like to CA and Seattle. . .covers our rooms and sometimes airfare. . and i was just trying to review ways to make our first purchase of ODD years from Developer more valuable by making it annual if that could have been done for under $8K.

 

[DeniseM]

i'm pretty much just looking at starwood because we use the starpoints for all other travel like to CA and Seattle. . .covers our rooms and sometimes airfare. . and i was just trying to review ways to make our first purchase of ODD years from Developer more valuable by making it annual if that could have been done for under $8K.

Financing an expensive timeshare to convert it to Starpoints just isn't logical. By the time you make your payments and pay the interest on the loan and pay the yearly MF, and then convert to Starpoints, it will cost you more than if you had just paid for travel out of pocket. A EOY 2 bdm. is only worth 40K Starpoints - it's just not a good value to convert it to Starpoints.

If you want Starpoints, get a Starwood AMEX and you can earn Starpoints for free!

 

[hvanv0405]

I have the amex. I wasn't meaning i'd want the extra year to convert. . .i know there is no benefit in that and would more then likely rent it out.

I was just referencing that I choose Starwood when I travel cause I can use points to pay for it when not going to a timeshare. . .one of my first referrals purchased in September and I just received our award letter for the 20K points.

I wouldn't buy for points but did enjoy the 120K points for purchasing from the developer.

Again I was mostly talking about making our purchase Annual. Our odd years costs something like $36K. .if we could add Even for $8K, we'd be at a $44K investment for property that the developer sells for over $62K.. . so i figured adding even years makes our original investment not so hard to swallow.

 

[DeniseM]

It may make your developer purchase look better on paper, but since you are talking about adding another payment, finance charges, and MF to your budget, how is it really going to help you in any tangible way? Especially in this economy! I hope you will take your time and consider all your options.

I wish you luck, my friend!

 

[califgal]

I have to chime in here and fully agree with Lisa and Denise. My friendly advise is from years of experience also. Don't go into any more debt for a timeshare now...especially if you have to finance it!!! Our economy will not get better overnight...we're in uncharted waters. Save the money you have and don't have. Timeshares will not run away resales will always be here. Even if you are spending under 8K..any way you slice it it's 8K..much better to save your money.

 

[taffy19]

I agree with Lisa - take your time and check out the whole TS Market. There are some incredible bargains out there if you don't have to have Starwood. Last year I bought two ocean front units on Kauai with gorgeous 180º ocean views for $1,300 and $1,500 on ebay. When you look at $45K for ocean front at the WKORV vs. $1,500 at another resort, it's not a hard decision to make. And I bet you can save $1,500 in a year with no problem!

The choice is no brainer and I hope that hvanv0405 will listen to you Denise but we all make mistakes sometimes. Do not finance a timeshare purchase and certainly not now.

 

[hvanv0405]

I know i'll probably get reamed for this because I just can't help but debate the loosing side So here goes. . .

Say buying for $8K and renting out twice over 4 years to recover that (if able to rent for $4K for the week - which isnt' that unreasonable for the right week).

Now say you wait 10 years and save up to try and find another one for that low price. . you've wasted 6 years or 3 years that could have been rented out for profit. Granted it's all hypothetical and no chance of getting WKORVN for $8K but still one could dream.

 

[He Hate Me]

Say buying for $8K and renting out twice over 4 years to recover that (if able to rent for $4K for the week - which isnt' that unreasonable for the right week).

Where do the almost $2K in Maintenance Fees per use year factor into your strategy?

 

[taffy19]

I know i'll probably get reamed for this because I just can't help but debate the loosing side So here goes. . .

Say buying for $8K and renting out twice over 4 years to recover that (if able to rent for $4K for the week - which isnt' that unreasonable for the right week).

Now say you wait 10 years and save up to try and find another one for that low price. . you've wasted 6 years or 3 years that could have been rented out for profit. Granted it's all hypothetical and no chance of getting WKORVN for $8K but still one could dream.

You won't get reamed here because you are spending your own money or are getting in debt while the economy is weak.

You may not always be able to rent the condo out when you want to so you will have to cover the maintenance fees too but you can use it yourself and enjoy your vacation or you can exchange it too. I agree with Denise and Lisa that buying a lower priced independent condo at an auction sounds much smarter when starting out and you won't have to save very long. You can always buy a second one that is more expensive once you know that you like timesharing and dealing with renters too.

Good luck but remember that it is very easy to buy a timeshare but not as easy to sell them unless you give them away and certainly now. Prices may go lower yet when maintenance fees are due for many resorts.

 

[DeniseM]

I know i'll probably get reamed for this because I just can't help but debate the loosing side So here goes. . .

I promise you that you won't get reamed, because we don't do that here.

Say buying for $8K and renting out twice over 4 years to recover that (if able to rent for $4K for the week - which isnt' that unreasonable for the right week).

1) You are looking at more like $17K than $8K for an EOY IV.
2) $4K rent for an IV week is not going to happen - especially in this economy. Remember - floating weeks cannot reserve weeks 51 or 52.
3) Don't forget the $2K MF per year!

Now say you wait 10 years and save up to try and find another one for that low price. . you've wasted 6 years or 3 years that could have been rented out for profit. Granted it's all hypothetical and no chance of getting WKORVN for $8K but still one could dream.

If it would take you 10 years to save $8K, that's a good indicator that you shouldn't be buying an $8K timeshare. Honestly, there are so many great deals right now - look at all your options.

Good luck!