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WKV Value?

needvaca

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$7500 is good for a Platinum plus 1BR premium (the big unit), but high for a 1BR deluxe (smaller unit)
 
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Thanks David! Yes it’s with 2019 usage & will need to pay maintenance fees for the year at closing. But the maintenance fees are what make this appealing! Have you found them to be fairly stable for the last decade?
 
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Hi needvaca! Thanks for the response. It is the smaller deluxe unit. What do you think is the “right” price for that?
 

needvaca

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I'd guess a 1BR Deluxe would go for something like $5000, but I have no data to support that. I've seen a couple 1BR premiums sell for $7500 lately so that's why I mentioned it.
I'm sure others can opine better.
 

vacationtime1

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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?
It's a good price. We paid $7,250 all in in 2013 and thought we were stealing it.

We've used the property only once (actually, we used the StarOptions from the property once). We rented it out the other five years; our rental profits (rents less MF's) have been about $6,000.

Edited to add: When I wrote this, I assumed you meant the 81000 StarOption unit. The 67100 unit is obviously worth less -- although probably in the $6,000 range.
 
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Thanks vacationtime1! Hmm Okay so sounds like it’s not the best deal but probably also not a terrible one. May I ask what the maintenance fees are this year for the premium 1bed?
 

vacationtime1

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Thanks vacationtime1! Hmm Okay so sounds like it’s not the best deal but probably also not a terrible one. May I ask what the maintenance fees are this year for the premium 1bed?
$961 for the large side; $604 for the small side (for 2019). Plus the SVN fee of approx $140 for the first unit, approx $60 for the second, and "free" for additional units.
 
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$961 for the large side; $604 for the small side (for 2019). Plus the SVN fee of approx $140 for the first unit, approx $60 for the second, and "free" for additional units.
By large you mean premium and small is deluxe? So the difference is somewhere around $300 in MF?
 

DavidnRobin

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$7500 is too much for 67.1K SOs


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mjm1

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I agree that is a good price assuming it is the Premium 1BR (the large side)

Mike
 

bizaro86

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I've been watching the small 1 bedrooms at WKV for awhile, as I'm likely in the market for one at some point. They seem to come up in the 4-5k range fairly regularly. I even saw a 3k one once... I think 7500 is too much unless that's a great fit for you and you need it now.
 
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Thanks for all the input! I told them I would pay 7k all in but now I’m feeling like I should back off that too...Just not sure how often these units come available?
 
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I've been watching the small 1 bedrooms at WKV for awhile, as I'm likely in the market for one at some point. They seem to come up in the 4-5k range fairly regularly. I even saw a 3k one once... I think 7500 is too much unless that's a great fit for you and you need it now.
Wow really? Yikes definitely seems like even 7k would be an overpay then. I don’t really NEED it now. I can definitely afford to wait for a better deal.
 

teddyo333

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I would hold off. I purchased a WKV 1 bedroom premium (Platinum Plus/81K Staroptions) a few months ago for 7K all in. It included 2018 usage that was rented for 1K to bring the actual cost down to 6K. If you are looking for 67K Staroptions you are better off purchasing Vistana Villages Bella or Key West. But if you are looking for WKV premium I would wait.
 

needvaca

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Thanks for all the input! I told them I would pay 7k all in but now I’m feeling like I should back off that too...Just not sure how often these units come available?
I just saw a Premium 1BR Platinum pop up on Redweek today for 7900. I bet it will go quick.
 

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Wow ... a 67,100 platinum small bedroom for 602 in maintenance fees might be the best starpoint to dollar ratio in the network ... how much do those units sell for? Assuming you already have two other units of course.
 

DavidnRobin

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Wow ... a 67,100 platinum small bedroom for 602 in maintenance fees might be the best starpoint to dollar ratio in the network ... how much do those units sell for? Assuming you already have two other units of course.
Do you mean SO to dollar (MF/SO) ratio? (MF$ should be in the numerator)
You do not get SPs with resale.

For WKV - the large 1Bd side has same MF/SO as the small 1Bd. ???

But, the best MF/SO in VSN?
That would be the 3Bd WSJ-VGV Plat+

IMO - 81K SOs is the sweet spot as it will get a 1Bd HI for a week - unless you like studios.

Do not forget VSN fees in calculation.

IME over 10 years - the 1Bd large WKV (Plat+) rents for ~$2K after fees. ($1000 is essentially the MF/Tax currently).


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carpie99

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Do you mean SO to dollar (MF/SO) ratio? (MF$ should be in the numerator)
You do not get SPs with resale.

For WKV - the large 1Bd side has same MF/SO as the small 1Bd. ???

But, the best MF/SO in VSN?
That would be the 3Bd WSJ-VGV Plat+


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67,100/609 = 110.18 SO/$ - WKV Small 1 bedroom
257,700/2772 = 92.97/$ - WSJ-VGV Plat+ (your 2017 maintenance fees from the database). Assuming the maintenance fees plus taxes haven't gone down to $2,338.90 in 2019 would make the small WKV a better deal

81,000/961 = 84.29/$ WKV large 1 bedroom - crazy
 
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DavidnRobin

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Looks like you are correct.

For 2019:
WKV MFs and Taxes are
1Bd small (67.1K SOs) = $604.43
(111.0 SO/$)
1Bd large (81K SOs) = $960.89
(84.3 SO/$)
2Bd LO (148.1KSOs) = $1565.31
(94.6 SO/$)

Weird - as I recall from a long time ago they were same (or likely mistaken).
I thought SDO was the only uneven one.

Hmmmm... for SO usage (67.1K SOs is 6 nites in 1Bd HI) — maybe this is better choice.




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carpie99

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Looks like you are correct.

For 2019:
WKV MFs and Taxes are
1Bd small (67.1K SOs) = $604.43
(111.0 SO/$)
1Bd large (81K SOs) = $960.89
(84.3 SO/$)
2Bd LO (148.1KSOs) = $1565.31
(94.6 SO/$)

Weird - as I recall from a long time ago they were same (or likely mistaken).
I thought SDO was the only uneven one.

Hmmmm... for SO usage (67.1K SOs is 6 nites in 1Bd HI) — maybe this is better choice.




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Of course finding a small 1 bedroom platinum cheap looks difficult.
 

Saaz124

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Keep your eye open and you will probably find one at your price. We own two of the small 1BR Platinum because the MF's are cheaper per staroption than the large side. We have never found an issue reserving with star options at 8 months for any location, but we make sure to avoid the popular times wherever we go.
 

carpie99

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Keep your eye open and you will probably find one at your price. We own two of the small 1BR Platinum because the MF's are cheaper per staroption than the large side. We have never found an issue reserving with star options at 8 months for any location, but we make sure to avoid the popular times wherever we go.
What is a good price?
 

Ken555

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Of course finding a small 1 bedroom platinum cheap looks difficult.
This is the key issue. I once considered adding one of these as well, since it was the best bang for the buck (sorry David, even back then as I recall) and had an lower entry cost. But, like everything else, it is also impacted by key issues to consider:

1. How long will you keep the unit? For <6 years or so buying SVV is likely a better choice.

2. What do you expect Marriott/Interval to do with Vistana in the next ~5 years? Will this impact your ownership? Your value?

3. Are you okay visiting Kierland if that was your only option, or using it as an otherwise relatively expensive week for trading in Interval or another exchange? (For comparison, I trade my 2-Bed SDO weeks and typically costs ~$550 plus exchange fees for each 1-Bed, and I always split my 2-Bed, so my typical weekly all in cost is about ~$750 these days (Interval is now $209 for non-Vistana exchanges)).


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vacationtime1

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One big advantage in owning the large side one bedroom platinum plus Kierland is its rentability. The large side easily rents for ~$2,350 during March; I have been hardpressed to rent the small side (the 67100 unit) for $1,400, and then only as part of a two bedroom rental.

Another advantage of the large side is if you are going to use it yourself; it is larger and nicer (obviously).

The economics of the small side are superior only if you are going to use its StarOptions every year. If you would be using it in Interval, SDO will get you the same trades for a fraction of the cost.
 
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