WSJ - Coral Vista Villas phase

[darius]

Thanks for the replies! Curious how much the monthly premium is for two VOI's. But for 19k each -- not a bad deal to requalify in my opinion.

 

[czar]

I would assume the two smaller contracts should be similar to buying them together. Buy in is cheaper but the MF seem high to me as compared to BV (and the units are smaller). I guess the upswing is more flexibility in booking unit sizes.

Resort season 148,100 options was $2518 MFs.
Resort season 95,700 options was $1915 MFs.

That's about $600 more than 2br summer BV.

 

[okwiater]

AFAIK there is still a $20k minimum to requalify. That's what we were told at WKV when they tried to sell us Coral Vista.

 

[czar]

AFAIK there is still a $20k minimum to requalify. That's what we were told at WKV when they tried to sell us Coral Vista.

They told me same thing but then let me do it for a contract at just over $19k. I had 2 weeks I used to trade in, too. I think it was like $19,300 or something.

Edit: We also bought and used an explorer package. Just be careful, you can't use any more than 10% if the expert package value of the net cost of the unit. For us, we were only able to get a credit of about $1930 bc that's what the unit cost was after the trade in of two SVV weeks. Brought us down to about $17k plus closing costs.

 

[czar]

I don't see why you couldn't do that.

The downside is that you'd be paying a slightly higher MF to do that. My SVO sales rep explained to me that each ownership comes with a base MF plus a per-StarOption MF. So the same number of options purchased as 2 ownerships would incur 2 base MFs (but the same per-option MFs).

Missed this post. That's interesting. Wonder what the base is.

 

[SMHarman]

Is that the slightly higher $30 EOY fee?

Sent from my LT26i using Tapatalk

 

[darius]

To anyone who purchased here, may I ask, what were the incentives offered? Is the difference in purchasing 2 VO's for with 74,050 SO (to requal two units) only $30.00/ea in additional maint. fees?

Thanks in advance..

 

[okwiater]

To anyone who purchased here, may I ask, what were the incentives offered? Is the difference in purchasing 2 VO's for with 74,050 SO (to requal two units) only $30.00/ea in additional maint. fees?

Thanks in advance..

It seems like the additional maintenance per unit has to be much more than $30.

A 148,100 HO "Resort" season ownership has MFs of $2518.
A 95,700 HO "Resort" season ownership has MFs of $1915.

Based on those two samples, the per-HO cost is about 1.15 cents plus a base MF of $814.45.

However, we were also quoted $4053 in MFs for 148,100 plus 67,100 (two ownerships). The per-HO assumptions aren't quite consistent with the third sample; however, it still implies per-HO cost of 1-1.2 cents and base MFs in the many hundreds of dollars.

 

[Conan]

Bay Vista/Coral Vista Developer Prices and Explorer Package Deal

We're at Westin St. John, renting a hillside 1-BR unit from an owner. We took the tour and we bought an Explorer package.

They're rebuilding the Bay Vista/Coral Vista units, formerly part of the hotel, into timeshare units, a mix of Studios, 2-BR and 2-BR loft units. It's a point system, and apparently the loft units are the same price and maintenance as the regular 2-BR and will be assigned on a request basis.

We paid $4,994 for the Explorer Package - - it provides a 2-BR week in the new units between May 2015 and June 2016 after the construction is done (we requested and got an extension to use it through October 2016), and airport/ferry transfers. Included in the price was two years' SPG Gold status and 85,000 SPG Starpoints. We figure the points will give us about a week in a pretty good European hotel, so we paid about $350/night across the board (or you could say that's $400/night for the WSJ and $300/night of hotel use).

FYI, here are the figures from my Explorer Pricing Addendum.

Resort Season
148,100 Points/Star Options $38,100 w/80,000 Star Points and 20,000 SPG gift

95,700 Points/Star Options $24,600 w/51,600 Star Points 65,000 SPG gift

74,050 Points/Star Options $19,000 w/39,950 Star Points 50,000 SPG gift

67,100 Points/Star Options n.a.

47,850 Points/Star Options $12,300 w/25,800 Star Points 30,000 SPG gift

44,000 Points/Star Options $11,300 w/23,750 Star Points 30,000 SPG gift

33,550 Points/Star Options $8,600 w/18,100 Star Points 20,000 SPG gift

22,000 Points/Star Options $5,700 w/11,850 Star Points 20,000 SPG gift


Diamond Season
176,700 Points/Star Options $61,000 w/95,400 Star Points and 160,000 SPG gift

148,100 Points/Star Options $51,100 w/80,000 Star Points and 140,000 SPG gift

88,350 Points/Star Options $30,500 w/47,700 Star Points 80,000 SPG gift

81,000 Points/Star Options $27,900 w/43,700 Star Points 70,000 SPG gift

74,050 Points/Star Options $25,500 w/39,950 Star Points 60,000 SPG gift

40,500 Points/Star Options $14,000 w/21,850 Star Points 35,000 SPG gift

 

[DavidnRobin]

Thanks for the info - there is already a thread for the WSJ CV phase.

http://www.tugbbs.com/forums/showthread.php?t=199853[MERGED]

It is the CV phase that is being re-configured/re-modeled from the hotel to TS villas. This was done for the the BV phase that already exists. BV and CV phases will operate different HOAs (as well as the VGV phase of course).

IMO - I would rescind the ExPkg (if you can) until you have done adequate research (on-line). I know that it seems to be a great deal - and can justify using creative math (aka fuzzy math). I am not saying that you cannot make it work to maximize value - especially if you compare to retail cost.

Make sure you are aware of what resale VGV and BV is going for (RedWeek and Holiday Homes of StJ) - and the rental prices at WSJ (I assume you know this as you rented from an Owner), and for villas on StJ.

Importantly, you list the purchase price and incentives (thanks), but not the MFs - it is the MFs that are going to always continue (flat or upwards) and can become a challenge to deal with for some (as life changes).

Also, BV resale prices are really dropping (as often seen with Voluntary resorts because SOs do not transfer with ownership) now that they have been in sales for a few years and (assume) at the end of their sales period since they are opening up the CV phase next year. I think the VGV resale prices have bottomed (IMO) - especially with the increase of the associated SOs.

Good luck.

You didn't mention how you liked the resort or St John - always interested in others vacations on StJ.

 

[Conan]

Thanks David.

There's no chance we would buy from the developer, but I'm OK with the explorer package. We know what we're getting, we do want to come back in 2016, and I'm looking forward to the 2-BR unit for that week.

We paid $375/night for the hillside 1-BR private rental, two consecutive March Spring Break weeks $5,300 total which were the exact weeks we needed.

We're very happy with the Island - - it's a legitimate Hawaii alternative for East Coasters. Our friendly timeshare salesman recommended P&P food shack (past Gallows Point) which was a great find for the food, the prices, the view, and the company. We've driven our jeep all over the Island, snorkeling in new places every day. We've had a few expensive dinners out, the usual suspects in town and our favorite out of town, Shipwreck down Rte 107 from Coral Bay.

The hillside unit is a bit smaller than we're used to (our adult daughter is with us, sleeping on the living room convertible). We haven't made much use of the Westin property, 'though it's nice to have a pool right next door (we're in Building 33). The kitchen is adequate and we very much like the balcony view. The big disappointment here is that the hot-tub is out of service.

Cheers!
Conan

 

[DavidnRobin]

Hot tub? You mean down at the resort?
We rarely get down to the resort. Parking next to the villa is a huge benefit.
We own 3410 (2Bd TH) - I love the 25 steps to the pool.

A lot of weeks rent for the MFs, but I guess not during SpringBreak. Not sure if the ExpPkg will get you a high-season week reservation.

Shipwreck is one of our favs as well.

 

[OKPACIFIC]

availability

Duplicate post

 

[OKPACIFIC]

availability

FYI went to sales presentation yesterday. The offering of 176700 diamond options for $61,000 is gone and the 148100 diamond for 51100 will be gone May 1st. By gone they explained it means the sales reps can't offer it any more. To me this means maybe a price increase coming?

 

[SMHarman]

^ seems a salesperson got to him while typing the message.

Forget it - managed to send the full text.