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Who's Selling Their MAO Week?

Chemee

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I'm just curious to know if anyone is selling their Aruba Ocean Club week due to the increased maintenance fees and/or special assessment?

We are. We were prepared for for a $500 special assessment in June 2009 & July 2009, but not in January 2009 along with a 30% maintenance fee increase. Fees are never going to go down so it's only going to get worse in future years. We've never gone in winter so we'll probably end up better off renting. We've owned our unit long enough to be happy with the 60% Marriott will give us for listing with them. Hopefully it'll sell in 2009.

ETA: Yes, what Dave said.
 
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Sunbum

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Will Marriott pay you 60%? 60% of what?
 

Dave M

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Marriott doesn't buy weeks. But at sold-out resorts they will accept listings for Marriott weeks that are in high demand. If Marriott is able to sell the week at its current price, the owner gets 60% of that selling price. Marriott keeps the other 40%.
 

marksue

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You can forget about selling your Ocean Club week, unless you sell it on your own for a fraction of what you paid for it. Due to the assesments and the astronomical increase in MF's there is no market for the Ocean Club. In fact i do not believe there will ever again be a market for the Ocean CLub as the MF have priced them out. It is cheaper to rent a week in the Ocean Club then to own.

I own 2 weeks and would love to unload my units. I have ads for make an offer and there are no offers.

Marriott and the Board have totally screwed the Ocean Club Owners. I am thinking of selling my Surf Club unit before they do the same thing there.
 

qlaval

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Selling at this point of time wouldn't be financially wise even for resale purchasers.
Unless someone is able to find an ignorant buyer who is not making his buyer's homework I couldn't imagine anyone willing to purchase before everything at the OC is sorted out. :rolleyes:
 

Zac495

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I'm just curious to know if anyone is selling their Aruba Ocean Club week due to the increased maintenance fees and/or special assessment?

We are. We were prepared for for a $500 special assessment in June 2009 & July 2009, but not in January 2009 along with a 30% maintenance fee increase. Fees are never going to go down so it's only going to get worse in future years. We've never gone in winter so we'll probably end up better off renting. We've owned our unit long enough to be happy with the 60% Marriott will give us for listing with them. Hopefully it'll sell in 2009.

ETA: Yes, what Dave said.

Marriott is not buying back Ocean Club. I wish. I asked! They said no. If you know anything different -please tell.
So I am taking the road of - I will go to Aruba and love it or I will get 3 weeks by locking off and (hopefully) get an AC. I TOTALLY realize I'm being an idealist -but hey - it's money and not my life. Things could be worse. Who knows - maybe we can rent it!
 

Chemee

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Marriott is not buying back Ocean Club. I wish. I asked! They said no. If you know anything different -please tell.
So I am taking the road of - I will go to Aruba and love it or I will get 3 weeks by locking off and (hopefully) get an AC. I TOTALLY realize I'm being an idealist -but hey - it's money and not my life. Things could be worse. Who knows - maybe we can rent it!


Correct, no buy back. We are just listing our unit for sale with them. They will do that for certain weeks in a sold out resort.
 

lovearuba

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Listing with Marriott

The last update we had from them was about a month ago, they had 22 units in inventory where the oldest one was from last March. They took our name for a list and would send paperwork when their inventory started to go down. I am not holding my breath. I am also hearing that they are trying to get folks that own a one bedroom to upgrade to the two bedroom unit. I'm sure eventually they will sell them but there will be quite a wait.

I also am optomistic that things may turn around with the economy in the next couple of years. If the economy gets better and if the units are refurbished the ocean club will be one of the best resorts in Aruba.

You can certainly try and sell it on your own and there is plenty of helpful information on tug to help you get started just dont plan on getting a decent price in this economy.
 

Zac495

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Correct, no buy back. We are just listing our unit for sale with them. They will do that for certain weeks in a sold out resort.

I'm still confused. I was told they wouldn't list it for sale either. They will list Manor club, but not Ocean Club. Who did you contact to have them list it for you? THANKS.
 

lovearuba

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Hi
My husband called the main number for the vacation club, its not listed just on their list for when they finish selling the rest of their inventory that paper work is already filled out for.
 

Dave M

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Hi
My husband called the main number for the vacation club, its not listed just on their list for when they finish selling the rest of their inventory that paper work is already filled out for.
I'm confused. Does that mean you found that they are accepting additions to the list by owners or that they aren't accepting them?
 

Sunbum

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You can forget about selling your Ocean Club week, unless you sell it on your own for a fraction of what you paid for it. Due to the assesments and the astronomical increase in MF's there is no market for the Ocean Club. In fact i do not believe there will ever again be a market for the Ocean CLub as the MF have priced them out. It is cheaper to rent a week in the Ocean Club then to own.

I own 2 weeks and would love to unload my units. I have ads for make an offer and there are no offers.

I just checked www.redweek.com and www.vacationtimesharerentals.com, resale sites to try and confirm your comment. It appears to me that next to no one is trying to sell there Ocean Club units. I am looking for a 2 bedroom Platnuim and there is a total of three for sale, one being O.F. The asking prices are similar to a year ago. I am not seeing the dumping. Not even lower asking prices.:confused:
 

JimIg23

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I just checked www.redweek.com and www.vacationtimesharerentals.com, resale sites to try and confirm your comment. It appears to me that next to no one is trying to sell there Ocean Club units. I am looking for a 2 bedroom Platnuim and there is a total of three for sale, one being O.F. The asking prices are similar to a year ago. I am not seeing the dumping. Not even lower asking prices.:confused:

firesales would be on ebay probably.
 

lll1929

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I am not planning on dumping my unit although the fees are outrageous.

I am just prayerful that the economy will turn around and I will maintain my employment. I truly enjoy Aruba, in light of the beach issues and assessments. I look forward to seeing the units after the refurb.
 

Sunbum

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firesales would be on ebay probably.

Not there either, only 2 listed on e-bay, both one bedrooms.

I think as much as we are not happy with the costs going up, (and the board blowing us off), the vast majority will suck it up and enjoy the use of it. I'm certainly not going to sell my weeks or let it ruin my vacation. I am actually looking forward to seeing the resort next year after the renos are done. I'm sure it will be outstanding.
 

lovearuba

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response to dave

Marriott took my husbands name and said when their inventory of the the 22 units started to go down they would send us paperwork to list ours. To me this means they need to sell some and when they need more inventory to sell then they would contact the people on the list and send them paper work to sign. I hope that clarifies it. Sorry if I confused folks.
 

KathyPet

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If there are too many owners wanting to sell at a certain resort then Marriott will create a "wait list" of owners interested in selling. As they sell out existing listing they tap the wait list and if people are still interested at that time they will send you a listing agreement. Once you have signed that listing agreement they will then actively try to sell your unit for you. I spent two years on the wait list for Barony Beach before my name got to the top of the list. Once I filled out and returned the listing agreement they sold it within a month
 

Chemee

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I'm still confused. I was told they wouldn't list it for sale either. They will list Manor club, but not Ocean Club. Who did you contact to have them list it for you? THANKS.


Do you have a 2-bedroom unit? They are accepting listings for 1-bedroom gold units, which we have (no wait list). MVCI Resale Operations 866-682-4547.
 
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Zac495

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Do you have a 2-bedroom unit? They are accepting listings for 1-bedroom gold units, which we have (no wait list). MVCI Resale Operations 866-682-4547.

yes - I own 2 bed. They said they're not taking them. Good luck to you!
 
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