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Wkorvn

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We are about to purchase an Island View resale 2 BR LO with 148,100 SO for $18,900 with annual use at Westin Ocean Resort Villas North. I would like opinions regarding the price and if it seems like a good deal. Thanks.
 
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OKPACIFIC

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I have been looking at WKORVN and $18,900 for an IV seems to be in line with what I was seeing right now. Something to consider: the MF for WKORVN units is $1768 for 2008. Red Week rentals for non-Christmas week IV are currently listed for $3250 to $2000 for a 2br 2bth. That means that you would be saving about $230 to $1480 year in rental expense by buying a timeshare week. Therefore, it would take 12 to over 80 years for your yearly savings to recover your $18900 cost. In my opinion, maintenance fees increase at a faster rate than the rate at which rentals increase so there is a chance the purchase price would never be fully recovered. Now maybe rentals are just unusually low and maybe they won't be available every year for the week you wanted to vacation. But if your lifestyle is such that you are flexible on the exact week you want to vacation then perhaps renting the exact same property would be a safer option than puchasing it during these unusual times.JMHO
 
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DeniseM

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Welcome to TUG! :hi:

I think you may be able to do better. There was one on ebay this week for 10K - I'd do some more research. Since maintenance fee bills will come out any time, in this economy, I expect a lot more go up for sale. I'd wait and see what happens over the next couple of months.

BTW - the MF is less at the original resort, and the units are slightly larger.

Since this is a Starwood timeshare, I'm going to move your post to the Starwood Board.
 
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Denise L

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I'd grab it!

Killer deal!!! Lowest I have heard of. Doesn't make me happy as a retail buyer who paid $45K for the original flavor (WKORV), but a great deal for resale buyers. I would not hesitate if that is where you want to own. Good luck with your decision.
 

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Here's the one for 10K - looks like the auctioned ended on the 22nd, and it didn't sell - however, it's only EOY. Ebay Auction

Here is an EY OCEAN VIEW that just sold for $21,280 - Ebay Auction

I think I would wait a bit....you may be able to get OV for $18K after the MF bills come out, or IV for less then $18K.

Don't be in a rush - this is a buyer's market.
Just this week another new owner posted that they were suffering buyers remorse because they rushed into a resale a few weeks ago, and now the market has dropped significantly and she wishes she'd waited.
 
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capjak

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That is lowest price I have heard for an Island View at the North Prop.

If you can get Ocean View at that price that would be fantastic.
 

LisaRex

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Fair price but Denise is right. As others get their MFs, more will go on sale.

If you want to get IV, I'd definitely buy at the North side even though they are smaller and the MFs a bit more. None of the North units have the dreaded parking lot/highway view of the south side. And studio sides have lanais, which is a nice feature if you ever want to split your lock-out.

Good luck! I love Maui.
 

spuppy

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Most of the IV at WKORV-N actually have partial ocean views. I am at WKORV-N now and have a IV unit that looks across the pool at the ocean.
Also, walking around the grounds, the lanais at north are larger, even on the 1-bedroom side. For example, the lanai on my 1-bedroom side has a table with 6 chairs.
 

DavidnRobin

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...now if they would only put screens on the doors to the lanai. lol

Funny thing I noticed is that few people seem to use their lanais (for all the talk about them - I have many photos with barely anyone on their lanais - weird) - both Robin and I noticed this. Lanais are very important to us - and we spend alot of time on them. The OF (corner) lanais on the south-side are large (~8x25ft) - we love it. The southern view side get enough sun for sun-bathing. The OF corner studios also have lanais - unlike the other studios.

I took pics of the lanais for the north-side on our recent visit - they do not look bigger.
 

spuppy

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The lanais on the north side do have screen doors, or at least my unit does.

When I walked by, the lanais on the south side looked like they had 2 chairs and a tiny half-height side table I am staying at the north side now, and I have two 2 lockouts. Both units have a full-size table on the lanai of the 1-bedroom side with enough space for four people to comfortably eat. One lanai is slightly bigger than the other and has 6 chairs. The other has 4 chairs.
 

DavidnRobin

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The lanais on the north side do have screen doors, or at least my unit does.

When I walked by, the lanais on the south side looked like they had 2 chairs and a tiny half-height side table I am staying at the north side now, and I have two 2 lockouts. Both units have a full-size table on the lanai of the 1-bedroom side with enough space for four people to comfortably eat. One lanai is slightly bigger than the other and has 6 chairs. The other has 4 chairs.
Thanks for the info.

There was a thread a while back about no screens in WKORVN -and when I did a tour (last year) - there was none in the unit we saw. the lanais did not seem larger than the south. we are spoiled with south's OFs - you could have a party... :)
 

LisaRex

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I'm not sure I noticed an appreciable difference in size between the two sides, with the exception of the original OF units. On our OF unit at North, we had a small table and 4 chairs on our lanai. We could fit 4 around the table to play euchre on our lanai, but it was pretty tight.

Of course, if you want to own IV or OV and plan to use the lock-out, you should buy the north side if you intend to your use lanai for obvious reasons.



http://wkorv.shutterfly.com/
 
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