wkv

[pointsjunkie]

when wkv is totally sold out why won't the resale value go up?

 

[KOR5Star]

Is WKV The Westin Kierland? If so, it's already sold out. I was there over President's week last month and took the tour. Nothing left. They were selling other locations.

Prices will follow market demand. There's no predicting it. The only thing I know is timeshare resale doesn't mirror "real" real estate. Timeshare resales didn't enjoy the rocket increases of the real estate market, nor do I think they will suffer a lot from the decline in the real estate market.

 

[dcdowden]

We took the 'update' a couple weeks ago at Kierland, and they told us that WKV was sold out. A 2 BR L/O Plat season topped out at $45K at sellout. They were selling the same unit for about $35K in March '06, so clearly they pushed the price up as they were running low on units to sell. Resale asked for prices at MyResortNetwork seem to be around $25K now, but don't seem to be moving at that price. An EBAY auction last week closed at $21K. It would certainly be a rarity in the T/S world for resale prices to move up - I would hope they at least hold steady for awhile.
Doug

 

[DeniseM]

when wkv is totally sold out why won't the resale value go up?

I don't think so - For example WKORV resale prices seem to be going down, instead of up. I'm seeing 2 bdm.'s priced below $30K now, and we paid $45K, preconstruction.

 

[Denise L]

We took the 'update' a couple weeks ago at Kierland, and they told us that WKV was sold out. A 2 BR L/O Plat season topped out at $45K at sellout. They were selling the same unit for about $35K in March '06, so clearly they pushed the price up as they were running low on units to sell. Resale asked for prices at MyResortNetwork seem to be around $25K now, but don't seem to be moving at that price. An EBAY auction last week closed at $21K. It would certainly be a rarity in the T/S world for resale prices to move up - I would hope they at least hold steady for awhile.
Doug

I think when WKV first started selling, Plat weeks were $27,900 or less (I'd have to go back and take a look at old paperwork). Wow, $45,000 toward the end, amazing increase!

 

[grgs]

I think when WKV first started selling, Plat weeks were $27,900 or less (I'd have to go back and take a look at old paperwork). Wow, $45,000 toward the end, amazing increase!

I'm still not sure I believe the $45K figure. See this earlier thread:

http://tugbbs.com/forums/showthread.php?t=31525

That being said, I feel ok about our purchase at $28,200 back in Dec. 2004.

 

[DavidnRobin]

I think when WKV first started selling, Plat weeks were $27,900 or less (I'd have to go back and take a look at old paperwork). Wow, $45,000 toward the end, amazing increase!

It is not a real increase - it is a paper number used by SVO.

WKV does not have a ROFR for WKV. 2Bd LO Platinum are running about $21K resale. They are not being sold by SVO - so they cannot have a price.

A good example of this is the OF Dlx 2Bd LO at WKORV - SVO lists these as $86K - however, (like WKV) they do not have any to sell. When I asked them if the price is $86K why don't they use their ROFR at the ~$50K resale price and resale at $86K (seems like a quick profit...) - they look at me with a blank stare and have no answer.

Also, there are silver weeks at WKV available thru SDO.

 

[DavidnRobin]

talk about a bad eBay ad for WKV...

http://cgi.ebay.com/ws/eBayISAPI.dl...MEWA:IT&viewitem=&item=300102807342&rd=1&rd=1

"BECAUSE THIS IS A RESALE WEEK YOU MAY NOT TRADE INTERNALLY" [WRONG!]
Also, Got the dates wrong - should be weeks 36-49 (not 39)
No SOs even mentioned
No unit type listed

I assume by what was listed in the ad (based on MFs) - this was a Gold season 1Bd Premium unit worth 44K SOs - if true - someone got a steal for $2850. Even if it was the smaller Dlx unit (37K SOs) - it is still a bargin. I hope a Tugger snagged it. It went for just $100 more than a 1Bd Premium in Silver (30.5K SOs)

WKV does not have a ROFR.

 

[saluki]

talk about a bad eBay ad for WKV...

http://cgi.ebay.com/ws/eBayISAPI.dl...MEWA:IT&viewitem=&item=300102807342&rd=1&rd=1

"BECAUSE THIS IS A RESALE WEEK YOU MAY NOT TRADE INTERNALLY" [WRONG!]
Also, Got the dates wrong - should be weeks 36-49 (not 39)
No SOs even mentioned
No unit type listed

I assume by what was listed in the ad (based on MFs) - this was a Gold season 1Bd Premium unit worth 44K SOs - if true - someone got a steal for $2850. Even if it was the smaller Dlx unit (37K SOs) - it is still a bargin. I hope a Tugger snagged it. It went for just $100 more than a 1Bd Premium in Silver (30.5K SOs)

WKV does not have a ROFR.

IF the seller listed the balcony size as the proper size in the ad, the unit is the smaller 1 BR (gold season, 37000 SO's).

 

[DavidnRobin]

IF the seller listed the balcony size as the proper size in the ad, the unit is the smaller 1 BR (gold season, 37000 SO's).

I would have put our balcony (1Bd Premium) at around this size.

 

[saluki]

I would have put our balcony (1Bd Premium) at around this size.

Both size balconies are virtually identical, but the floor plan on mystarcentral shows the smaller 1BR balcony at exactly the same size as listed in the ad.

 

[DavidnRobin]

Both size balconies are virtually identical, but the floor plan on mystarcentral shows the smaller 1BR balcony at exactly the same size as listed in the ad.

If true - then the MFs listed were WAY off at $733 (?) - that would be around the MF for the premium plus the SVN fee.

Regardless - what a lousy eBay ad - ended up costing the seller a few grand - and a buyer with a bargin. Similar units are being listed for around $7K (for the 44K SOs).

Also, it look as if the 2Bd Plat on eBay is going to go for a very good price (for the seller) who does their eBay ads right (no reserve - everything of importance listed - even saying that it is Mandatory resort - tochoa25 obviously reads TUG)

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=260109319079&ssPageName=ADME:B:WNA:US:122

 

[DavidnRobin]

Now at ~$25K...

A thread about the price of a 2Bd LO (Plat) at WKV a while ago had some interesting 'discussion'. Also, interesting - that a similar unit from SmartChoice is listed at the same amount (before price negotiation). This is good example of how important the construction (full disclosure and knowledge of the SVO/SVN system) and listing (e.g. no reserve, low starting bid) of an eBay ad can make a big difference. There is a lesson to be learned here for those that ever consider selling their TS.

I tried to impart this idea to the seller of the WKORV-N unit recently, but he held to his guns and only got $16K for his EOY WKORV-N unit.

btw, a 2Bd WKV (Plat) was very recently sold for ~$21K (a $4K difference!).

 

[mesamirage]

I totally agree that a good ad, with all the details and pictures, makes all the difference it what price you can fetch off Ebay. The flip side that I look at is WHY would a resale buyer not due their homework and see what the market price is for a given week and stop bidding around that price... even more so when you are basically making a points/season purchase where all units in that season are treated equally. (not to mention you can view the last 30 days history on eBay search) Oh well... I guess if people didn't do what they do there wouldn't be deals to be made and resales to be purchased.

Steve

 

[DavidnRobin]

I totally agree that a good ad, with all the details and pictures, makes all the difference it what price you can fetch off Ebay. The flip side that I look at is WHY would a resale buyer not due their homework and see what the market price is for a given week and stop bidding around that price... even more so when you are basically making a points/season purchase where all units in that season are treated equally. (not to mention you can view the last 30 days history on eBay search) Oh well... I guess if people didn't do what they do there wouldn't be deals to be made and resales to be purchased.

Steve

Totally agree - but few TSers ever find TUG (I guess this is to our benefit). I would rather buy thru Judy at SmartChoice then deal with a eBay seller/purchase - even if it cost me a few $100 more.

 

[mesamirage]

We also purchased (our Kierland week) thru SmartChoice... They handled everything like pros. When compared to an Ebay purchase its not even close!

BTW David... I think you have gone from 100-200 posts a couple months ago to closing in on 1000!! Man have you been bit by the Timeshare bug!!

Some are crazy enough to say finding TUG saves you money!! Huh??!!??

 

[DavidnRobin]

We also purchased (our Kierland week) thru SmartChoice... They handled everything like pros. When compared to an Ebay purchase its not even close!

BTW David... I think you have gone from 100-200 posts a couple months ago to closing in on 1000!! Man have you been bit by the Timeshare bug!!

Some are crazy enough to say finding TUG saves you money!! Huh??!!??

You are right - I am trying to catch DeniseM.

 

[grgs]

If true - then the MFs listed were WAY off at $733 (?) - that would be around the MF for the premium plus the SVN fee.

Regardless - what a lousy eBay ad - ended up costing the seller a few grand - and a buyer with a bargin. Similar units are being listed for around $7K (for the 44K SOs).

Also, it look as if the 2Bd Plat on eBay is going to go for a very good price (for the seller) who does their eBay ads right (no reserve - everything of importance listed - even saying that it is Mandatory resort - tochoa25 obviously reads TUG)

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=260109319079&ssPageName=ADME:B:WNA:US:122

Sold at $28,799! $599 more than we paid for our unit from the developer. I wouldn't expect that to happen again, but it was nice to see.

Glorian

 

[DeniseM]

You are right - I am trying to catch DeniseM.

I sure wish you would - it's kind of embarrassing being in the top 5 blabber fingers on TUG!

 

[taffy19]

Is WKV The Westin Kierland? If so, it's already sold out. I was there over President's week last month and took the tour. Nothing left. They were selling other locations.

Prices will follow market demand. There's no predicting it. The only thing I know is timeshare resale doesn't mirror "real" real estate. Timeshare resales didn't enjoy the rocket increases of the real estate market, nor do I think they will suffer a lot from the decline in the real estate market.

I hope you are right here. We were surprised how soft the real estate market has become in Maui since last December which is only a few months ago.

We talked to our Marriott sales lady too and sales seem to be good over there. It was busy and people stopped by on the spur of the moment talking to the fellows at the little booths in front of the resort. I saw them booking tours left and right. They were not the people of the cruiseship that was anchored there because it was late in the day but of people who were obviously staying on the island.

Here are the newest pictures of the new Marriott Lahaina tower since December and of the newest, most complete buildings of the Westin timeshare construction too. With all this construction, there will be so many more timeshare condos in Maui to choose from.

Do you think that exchanging to Maui will be a lot easier now? I heard that the Hyatt also got their permits to build their new 12 story tower too right next to the Marriott timeshare resort.

 

[Denise L]

Sold at $28,799! $599 more than we paid for our unit from the developer. I wouldn't expect that to happen again, but it was nice to see.

Glorian

I agree! Yay for Starwood resale prices going up (at least in this case!).

 

[LisaRex]

Thx for the photos, iconnections!