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WKV Value?

caryatid62

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We're thinking of buying a full-time place in the Kierland area, and are considering selling our week at WKV. I've looked into some sites, including TUG, and I cannot get a read on the market for these places. Some similar units are selling for borderline retail price and others are seemingly selling for $100 or less.

Does anyone know the relative market for one-bedrooms at WKV? Are places selling well or is it pretty dry? I can't get a sense of whether or not its even worth it to list the place.



(PS: I'm intentionally not posting anything about the unit because I do not want people to think I'm trying to backdoor sell it on here w/o paying the fee for classifieds)
 

FamilyEsq

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vacationtime1

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The price will also vary on a one bedroom depending on whether the unit is the large side or the small side unit.
 

DavidnRobin

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As mentioned - the price is dependent on season and size.
Essentially, the value of WKV is based on the amount of associated StarOptions and corresponding Maintenance Fees.
If lowest season... almost valueless.


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echino

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PlatinumPlus 2 bedroom annual is about $10,000 - $12,000. 1 bedroom depends if it's small or large.

Anything below PlatinumPlus is worth about zero.
 

blahblah18

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PlatinumPlus 2 bedroom annual is about $10,000 - $12,000.
Only $10,000 for a 2BR Platinum? That seems a pretty optimistic, no?? Even $12,000 seems like a pretty good price.

Based on what I see on RedWeek and TUG Marketplace, the typical asking price for the 2BRs is in the mid to high teens. (There have been a few seemingly “quick sale” listings for as low as $12k, but they’re few and far between.)

A couple of brokers have told me that the actual sale prices typically come in between 12-15k.

Am I off? (We own a couple of 1BR Platinum weeks there, and we’re looking to add a 2BR week.)
 

echino

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vacationtime1

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Obviously a few 148100 StarOption Kierland units sell for $12,000 -- and maybe even for $9,758 (that was an eBay deal and we really don't know whether it closed). But I suspect very few sell at that price; I only see 148100 SO units on eBay every few months, and some of those have sold for ~$14,000. And yes, there is a broker who lists them for $12,000 a couple of times a year; he prices them for quick sale (I am being kind).

I have tracked Kierland sales for a decade; I think these low prices are outliers. Yes, they are "possible" prices. But if one wants to buy at that price, it will be a slow and tedious process with no guarantee of eventual success.
 

dioxide45

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that was an eBay deal and we really don't know whether it closed
I believe the buyer was a Tugger and we know it closed (can't find the post). Without ROFR at WKV, I would expect many deals to close.
 

BLUE AYES

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I am one of the lucky ones who was able to pick up at Kierland, Platinum, two-bedroom lock off for $12,000. I had “stalked” this property for quite a while and my research led me to believe that the average selling price was approximately $15,000, with a general range of $14,000 - $16,000. It is possible that the prices have come down a bit, but I think $14,000 is much more in the ballpark than $12,000. Just my two cents.
 

pacman777

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I think the value of these have definitely come down with the new norm being $12 to $13k. Of course you’re going to have outliers with prices above and below this average range. I think I saw one listed by the timeshare king for $12k the other day
 

jordathyspg

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We paid $16k for a 2 bedroom platinum in June this year.

We had been keeping an eye on prices and knew the price range but wanted to close no later than 8 months out for March spring break 2019, so we were in a bit of a rush. This was also our first TS purchase (after much research on tug) and the sale was thru a highly respected broker on this board, so for those two factors we did not mind paying what was likely a slight premium over what we could have paid if we had all the time in the world.

FWIW - we had made inquires/opening offers 3-4 times in the weeks leading up to our deal thru various sites, and all the units at $14k-$15k were sold within a week and we were told all had multiple offers at full ask. So I if was a seller, there is no way that I’d list less than $15k. That said, a patient buyer may get a nice deal, but you’d better be on it quick because I think there are plenty of people out there looking for those odd quick sale listings.
 

vacationtime1

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We paid $16k for a 2 bedroom platinum in June this year.

We had been keeping an eye on prices and knew the price range but wanted to close no later than 8 months out for March spring break 2019, so we were in a bit of a rush. This was also our first TS purchase (after much research on tug) and the sale was thru a highly respected broker on this board, so for those two factors we did not mind paying what was likely a slight premium over what we could have paid if we had all the time in the world.

FWIW - we had made inquires/opening offers 3-4 times in the weeks leading up to our deal thru various sites, and all the units at $14k-$15k were sold within a week and we were told all had multiple offers at full ask. So I if was a seller, there is no way that I’d list less than $15k. That said, a patient buyer may get a nice deal, but you’d better be on it quick because I think there are plenty of people out there looking for those odd quick sale listings.
This is a good point on Kierland (and many other) units; the closing date can have a significant impact on value.

Having a March reservation for the two bedroom Kierland unit is "worth" over $2,200 -- because the rental value of those weeks is at least $3,750 and the MF's are "only" $1,565. So having the ability to make a March reservation before the eight month mark -- when StarOptions from any Vistana mandatory unit can make a reservation; all unreserved weeks are taken immediately at that point -- is very valuable (none of the weeks later in the year are worth nearly as much).

This is why it often behooves a seller to reserve a good week so the reservation can transfer with the unit when it is sold. It is also why the buyer who closes on a 148100 SO Kierland in June for $16K pays no more than a buyer who closes on an identical unit a month later for $14K (in each case, assuming the unit was bought to use rather than for SO trading).
 
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maddog497

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I've been looking around at some WKV's and am curious about the difference between a floating gold plus 2 bedroom and a floating platinum 2 bedroom? Other than the amount of staroptions and price to purchase, are there any disadvantages for booking purposes?



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VacationForever

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I've been looking around at some WKV's and am curious about the difference between a floating gold plus 2 bedroom and a floating platinum 2 bedroom? Other than the amount of staroptions and price to purchase, are there any disadvantages for booking purposes?



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Same MF regardless of seasons for the same size unit. You can only book your week(s) within the season where the week is deeded.
 

maddog497

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Same MF regardless of seasons for the same size unit. You can only book your week(s) within the season where the week is deeded.
I'm seeing some with weeks identified as gold plus 22-37 etc., and then some gold plus 1-52, and turf subs just as float? I am assuming that the listings are just not accurate?

TheTimeShare King has a listing for a platinum 2/2 with 148,100 SO and is identified as "floats" for $12,500.

He has another Gold 2/2 with 81,000 identitied as "floats" for $3000.

It looks like the listing are not identifing the "floats" with the actual weeks tied to them. He has another platinum plus that states floats but below that in red states weeks 1-21, 50-52.

LOL, I'm answering my own questions but thought I would keep posting just in case others are curious.

WKV Has three seasons, platinum (1-21, 50-52), gold plus (22-27, 36-49) and gold (28-35)

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VacationForever

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I'm seeing some with weeks identified as gold plus 22-37 etc., and then some gold plus 1-52, and turf subs just as float? I am assuming that the listings are just not accurate?

TheTimeShare King has a listing for a platinum 2/2 with 148,100 SO and is identified as "floats" for $12,500.

He has another Gold 2/2 with 81,000 identitied as "floats" for $3000.

It looks like the listing are not identifing the "floats" with the actual weeks tied to them. He has another platinum plus that states floats but below that in red states weeks 1-21, 50-52.

LOL, I'm answering my own questions but thought I would keep posting just in case others are curious.

WKV Has three seasons, platinum (1-21, 50-52), gold plus (22-27, 36-49) and gold (28-35)

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There is no Gold Plus 1-52 at WKV. All weeks float within the season that are deeded in.
 

VacationForever

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Found that out. The listing are poorly worded.

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Unless you want to stay at WKV during Gold Plus season, then SVV Platinum weeks have better MF:Star Option value when compared with WKV Gold Plus season. You can pick up a SVV Platinum week for close to 1K.
 

maddog497

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We have 2 SVV, one platinum and one gold. I've had some questions about WKV so tight this was the thread to jump in on.

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Ianneyan

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Obviously a few 148100 StarOption Kierland units sell for $12,000 -- and maybe even for $9,758 (that was an eBay deal and we really don't know whether it closed). But I suspect very few sell at that price; I only see 148100 SO units on eBay every few months, and some of those have sold for ~$14,000. And yes, there is a broker who lists them for $12,000 a couple of times a year; he prices them for quick sale (I am being kind).

I have tracked Kierland sales for a decade; I think these low prices are outliers. Yes, they are "possible" prices. But if one wants to buy at that price, it will be a slow and tedious process with no guarantee of eventual success.
Just FYI, I was the winner of that auction and we closed in November. I do think, however, that that was a very unusual and phenomenal deal, definitely an outlier. Just good timing on my part... kinda right place, right time!
 
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Hi I’m being offered a 1bed plat plus week at WKV for $7.5k all in. From my research that seems like a reasonable price but thought I might come check with the experts is this an ok price or would I be overpaying?
 

DavidnRobin

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Hi I’m being offered a 1bed plat plus week at WKV for $7.5k all in. From my research that seems like a reasonable price but thought I might come check with the experts is this an ok price or would I be overpaying?
I think so. With 2019 usage?
I paid $10K in 2008.
Mine have paid for themselves by renting for last 10 years. Now using the SOs - although we have used one week to stay there as it is an excellent resort.


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