WKORV 2 Bedroom Odd Year Ocean View Just Sold On Ebay for $1259.56 plus $675 costs with est Maintenance fees of $2106.19 first payable 2027

[5finny]

Wow!
How low could it go?

 

[Ken555]

MVC will grab it.

 

[5finny]

Beginning to wish MVC had grabbed mine back when I payed much more for them
Also concerned that although Maui is recovering (not recovered) from the fire the rental market for even prime weeks has tanked.
I always expected my extended families would be traveling about every other year (next year we will be going) but I thought I would at least break even renting the weeks I did not use

My Crystal Ball says this will all change--but my crystal ball is often not very accurate

 

[EnglishmanAbroad]

It really is a sad state of affairs. We have 2 EOY WKORVN 2BR IV that are basically worth less than the TS brokers are charging to sell them. Having paid ~$44K for them from the developer and now having retired back to the UK, utilizing them in the future is possible but unlikely. Despite the high MFs, the only thing preventing us handing them back is the galling thought that Marriott will make a huge profit on them once again. Because of this, we will continue to use Abound as much as we can to at least get some value from our MFs while we can still afford them. We certainly won't be leaving them to our kids/grandkids, life is tough enough for them these days without having a TS millstone around their necks.

 

[CPNY]

Doesn't WKORV have ROFR? So this is just a win for Marriott and the Abound program

 

[5finny]

Doesn't WKORV have ROFR? So this is just a win for Marriott and the Abound program

You would think that Marriott would take this.
Whether they do or not it is a strong indication that if you are a current owner the current value of your ownership has plummetted.
I expect ocean front has held up much better

 

[5finny]

It really is a sad state of affairs. We have 2 EOY WKORVN 2BR IV that are basically worth less than the TS brokers are charging to sell them. Having paid ~$44K for them from the developer and now having retired back to the UK, utilizing them in the future is possible but unlikely. Despite the high MFs, the only thing preventing us handing them back is the galling thought that Marriott will make a huge profit on them once again. Because of this, we will continue to use Abound as much as we can to at least get some value from our MFs while we can still afford them. We certainly won't be leaving them to our kids/grandkids, life is tough enough for them these days without having a TS millstone around their necks.

I assume that the value you are getting from these is converting them to Abound points
Condolances
How many abound points do you get if you elect points?

 

[dioxide45]

I assume that the value you are getting from these is converting them to Abound points
Condolances
How many abound points do you get if you elect points?

Looks like 6,200 every other year, but a post August 2022 resale would not be eligible for Club Points unless requalified.

 

[sjlola]

It'll get ROFR'd, for sure.

 

[rickandcindy23]

I am seeing a resort listed on ebay that has $1.00 bid and am thinking of bidding, even though we already own.

Say a prayer for me for when Rick finds out I bought another one. I tried to get my sister to buy it. It would be her first timeshare.

 

[MOXJO7282]

I'm of the belief Maui rentals will make a big rebound in a few years as they rebuild Lahaina and the new short term rental law takes more effect. May take 3-5 years but it will come back.

 

[Henry M.]

It really is a sad state of affairs. We have 2 EOY WKORVN 2BR IV that are basically worth less than the TS brokers are charging to sell them. Having paid ~$44K for them from the developer and now having retired back to the UK, utilizing them in the future is possible but unlikely. Despite the high MFs, the only thing preventing us handing them back is the galling thought that Marriott will make a huge profit on them once again. Because of this, we will continue to use Abound as much as we can to at least get some value from our MFs while we can still afford them. We certainly won't be leaving them to our kids/grandkids, life is tough enough for them these days without having a TS millstone around their necks.

I stayed at the Marriott Marbella Resort in Spain, in a 2BR for less than half of the Club Points you get for a 2BR week at WKORVN. You could probably stay 3 or 4 weeks there off season. It was a very nice stay in March. A little cool for swimming, but the Andalucía region is nice. Gibraltar was interesting too.

Not sure if there is anything nice besides Disney at the French property.

 

[5finny]

It really is a sad state of affairs. We have 2 EOY WKORVN 2BR IV that are basically worth less than the TS brokers are charging to sell them. Having paid ~$44K for them from the developer and now having retired back to the UK, utilizing them in the future is possible but unlikely. Despite the high MFs, the only thing preventing us handing them back is the galling thought that Marriott will make a huge profit on them once again. Because of this, we will continue to use Abound as much as we can to at least get some value from our MFs while we can still afford them. We certainly won't be leaving them to our kids/grandkids, life is tough enough for them these days without having a TS millstone around their necks.

Your post said you bought developer
My rough math says that if you convert your weeks to Abound points you will be paying about $.65 per point
If you owned Abound points directly your Maintenance fees would be about $.81 per point
If a kid/grandkid can use them it may not be a terrible deal

 

[rickandcindy23]

I'm of the belief Maui rentals will make a big rebound in a few years as they rebuild Lahaina and the new short term rental law takes more effect. May take 3-5 years but it will come back.

I think you are right about that.

 

[CalGalTraveler]

This reinforces why resale is the only way to go. We bought resale WKORVN EOY and sold last year because MF are too high compared to our other timeshares and we want to travel elsewhere. We could trade SOs from WKV if we wanted to stay here again.

We lost a little from the sale but this more than made up the difference had we rented during the years we owned. I cannot imagine how much we would have lost had we purchased developer.

We enjoyed owning and visiting but the out of control MF hikes by MVV signaled that it was time to exit.

 

[EnglishmanAbroad]

I stayed at the Marriott Marbella Resort in Spain, in a 2BR for less than half of the Club Points you get for a 2BR week at WKORVN. You could probably stay 3 or 4 weeks there off season. It was a very nice stay in March. A little cool for swimming, but the Andalucía region is nice. Gibraltar was interesting too.

Not sure if there is anything nice besides Disney at the French property.

Yes, we already spent 3 weeks at the Marbella resort (Nov and Mar) and were lucky with the weather as we dodged a couple of really rainy weeks. We'll also give the other two Spanish resorts a try.

We also did a week at the French property in September where our points easily got us 2x2BR town houses for the whole family. It is good for Disney, especially for the grandkids, but also OK for getting into Paris where there is plenty to do. We did drive there from the UK but probably won't do that again although it does offer the chance to explore other experiences with en-route stopovers.

 

[EnglishmanAbroad]

Your post said you bought developer
My rough math says that if you convert your weeks to Abound points you will be paying about $.65 per point
If you owned Abound points directly your Maintenance fees would be about $.81 per point
If a kid/grandkid can use them it may not be a terrible deal

Yes, we will make use of them while we can but won't leave our kids/gks with the burden of the MFs/annual hassle of ownership.

 

[Henry M.]

How convenient is the French property for other tourist activities if you are not interested in EuroDisney? Are the train connections into central Paris convenient?

 

[rickandcindy23]

I am seeing a resort listed on ebay that has $1.00 bid and am thinking of bidding, even though we already own.

Say a prayer for me for when Rick finds out I bought another one. I tried to get my sister to buy it. It would be her first timeshare.

I won the bid. Oh dear!

 

[Henry M.]

Congratulations! What exactly did you bid on?

 

[rickandcindy23]

Congratulations! What exactly did you bid on?

Shadow Ridge Villages 2 bed annual plat for $304. It will not pass Marriott's ROFR.

 

[dioxide45]

Shadow Ridge Villages 2 bed annual plat for $304. It will not pass Marriott's ROFR.

You hope it won't pass?

 

[Hindsite]

How convenient is the French property for other tourist activities if you are not interested in EuroDisney? Are the train connections into central Paris convenient?

Very good location we go and don't do Disney, or Paris, a car is useful for that. The train to Paris is a bus ride to the station (<10mins) then a train into the city, which can be around 60 mins depending on which service you use. It works as a day trip, but is a long day. If you want to "do" Paris spend a couple of nights in the city and then go out to the MVC, you can always day trip from there for anything additional that you want to do.
Places you can get to from the MVC with ease:
Reims - Champagne of course, but also a lot of history and food
Meaux - Museum of the Great War, very nicely presented,
Giverny - Monet stuff, bit of a longer distance but worth it if you are into that
Fontainebleau - Big French royal palace and grounds, less crowded than its over-gilded cousin Versailles. Nice town to explore too
Versailles - Big bling French palace and grounds, nice town to explore too
Provins - Medieval town, nice drive to get there and good choice of places to eat when you do.
There is also an Asterix park about an hour North before you get to Senlis, if that's more your thing.
We tend to look up somewhere about an hours drive in any direction and look for somewhere interesting for lunch, that's a great way to stumble on stuff you never knew would be worth looking at. If you like your aircraft engines, there is a very impressive Museum at the Safran plant just before you get the Melun, check opening hours as they are very limited.

 

[rickandcindy23]

You hope it won't pass?

It did pass. John Kushman just informed me that it did pass. I am great with it because $0 closing costs, all I have to pay is $304, but Rick may not be happy about it, so I am going to go out to tell him. I assumed it wouldn't pass.

I am going to add that to the rofr.net database.

I paid $3,500 X 2 for these with tochoa25 five years ago. My, they have decreased in value. It's a buyers' market out there.

 

[stslc]

MVC will grab it.

I'm not sure they will. I just bought a WORKN EOY 2BR IV on a Redweek listing for $1500 + $900 closing. Total $2400 and they just waived ROFR. I was surprised.
How do you want to see it on ROFR.net? $1500 purchase price or all in $2400?