WSJ Owners - Can anyone find the "Ownership Opportunities" link?

[jerseygirl]

I received an email today regarding:

..... The Association now owns approximately 25 timeshare weeks.

As an Owner, you are being offered the opportunity to purchase an Association-owned timeshare week at a substantially reduced cost.

I'm not in the market, but curious .... and I can't locate the link.

Has anyone with multiple weeks found it?

 

[DavidnRobin]

I received an email today regarding:

..... The Association now owns approximately 25 timeshare weeks.

As an Owner, you are being offered the opportunity to purchase an Association-owned timeshare week at a substantially reduced cost.

I'm not in the market, but curious .... and I can't locate the link.

Has anyone with multiple weeks found it?

It doesn't open until tomorrow - look at bottom of the email (it should have been stated earlier as I also found it confusing).

 

[jerseygirl]

Oh thanks David. I'm a skimmer -- definitely didn't read all the way to the bottom.

 

[tomandrobin]

I received an email today regarding:

..... The Association now owns approximately 25 timeshare weeks.

As an Owner, you are being offered the opportunity to purchase an Association-owned timeshare week at a substantially reduced cost.

I'm not in the market, but curious .... and I can't locate the link.

Has anyone with multiple weeks found it?

Is this for both sections or just hillside units? I have not received any emails regarding excessive inventory.

Also, from mt Starwood dealings lately....Bay Vista doesn't have excess inventory for sale....cheap.

 

[Beaglemom3]

Is this for both sections or just hillside units? I have not received any emails regarding excessive inventory.

Also, from mt Starwood dealings lately....Bay Vista doesn't have excess inventory for sale....cheap.

Me neither.
Not worthy ?

 

[DavidnRobin]

The 'Ownership Opportunities' link is open, but doesn't list prices - only the available VOIs. It appears that one has to inquire individually.

And yes - these are WSJ-VG villas only. BV is still in active sales.

 

[tomandrobin]

The 'Ownership Opportunities' link is open, but doesn't list prices - only the available VOIs. It appears that one has to inquire individually.

And yes - these are WSJ-VG villas only. BV is still in active sales.

Since these are from the association, I am guessing that they are counted as a resale.

 

[Carolyn]

I clicked on one of the weeks hoping I could see a price. But no.......somebody will be contacting me!! Great, just what I DON'T want.

 

[DavidnRobin]

Since these are from the association, I am guessing that they are counted as a resale.

Essentially - can't use for Elite status or conversion to SPs (not worth it anyway). I can copy/paste email if you (or anyone) wants. Not sure why they don't just list prices, but probably some convoluted reasoning.

 

[Ken555]

Essentially - can't use for Elite status or conversion to SPs (not worth it anyway). I can copy/paste email if you (or anyone) wants. Not sure why they don't just list prices, but probably some convoluted reasoning.

It's a sales process, so they want to "connect" in order to "help" advise on the proper item to purchase, of course. Oh, wait, I'm being cynical.

 

[DavidnRobin]

Here's a copy of the email.... (I am so happy I just figured out how to copy/paste large sections using my iPad)

October 12, 2011

A Limited-time Offer from the Virgin Grand Villas - St. John Condominium Association

Dear Virgin Grand Villas Owner,

Greetings from your Board of Directors! We are pleased to announce an Owner resale program which will allow Owners like you the ability to purchase Association owned timeshare weeks. As you know, over the past few years a number of Owners have failed to pay their maintenance fees. As a result, these Owners were denied the use of accommodations at the resort and their timeshare weeks were eventually transferred to the Association. The Association now owns approximately 25 timeshare weeks.

As an Owner, you are being offered the opportunity to purchase an Association-owned timeshare week at a substantially reduced cost. This offer is subject to the following terms:

Timeshare weeks are offered on a first come, first served basis. Please visit “Ownership Opportunities” under “Your Owners Association” on the left navigation of mystarcentral.com where you will find a listing of available timeshare weeks, associated price and instructions. If you own weeks at other resorts, please select the link for your Virgin Grand Villas week and you will be directed to the resale offer for this resort. Owners who are interested in purchasing a timeshare week must submit a request to purchase as detailed on the website.
Qualified Requests to purchase available timeshare weeks will be processed in the order received. A purchase contract and related disclosure documents will be mailed to owners with further instructions. An initial deposit of 50% of the purchase price will be required at time of returning the executed purchase contract.
Requests will only be deemed as Qualified Requests if the person submitting the request is an Owner in good standing with no outstanding balances due to the Association.
Timeshare weeks offered by the Association will be automatically enrolled in the Starwood Vacation Network (“SVN”).
Timeshare Weeks offered by the Association do not count toward SVN Elite status and may not participate in the SPG Conversion Program (exchanging the timeshare week for SPG or Starpoints).
This offer is limited to timeshare weeks owned by this Association.
The Association is not offering to take back any timeshare weeks. This is an offer to resell timeshare weeks already owned by the Association.
Please note that this is not a public offering but a limited term internal offer to Owners. This offer begins October 13, 2011 and ends November 14, 2011. Please note that the Association website will only be active beginning on October 13, 2011 at 12:00 PM EDT, until November 14, 2011 5:00 PM EST. Any inquiries should be addressed to the e-mail address listed on the website.

Sincerely,
Virgin Grand Villas - St. John Condominium Owners Association
Board of Directors

This email was sent by SVO Management, Inc. You've received this email as a convenience
in the general course of communication regarding your ownership.

To ensure you receive your SVO Management, Inc. emails, please add
svomanagement@svomanagementinc.com to your address book.

Please do not reply. You may email the Association Management Team
at 00SVO-ResaleOffer@starwoodvo.com.

SVO Management, Inc.
9002 San Marco Court
Orlando, FL 32819
CID=1593

 

[ocdb8r]

There actually is an inventory sheet with the prices listed. A link to it ("Available Vacation Weeks") appears on the right hand side of the page once you've clicked the "Ownership Opportunities".

Here is a copy paste of it (sorry, don't' have the time to re-format):

Virgin Grand Villas-St. John Condominium

Unit Week Season Check-in Price Estimated Closing Costs

Annual 1BR Villa
3324 50 Platinum Friday $6,000.00 $1,310-$1,735
3225 27 Gold Plus Saturday $3,500.00 $1,285-$1,710
3427 35 Gold Plus Saturday $3,500.00 $1,285-$1,710
3125 39 Gold Plus Friday $3,500.00 $1,285-$1,710
3425 42 Gold Plus Saturday $3,500.00 $1,285-$1,710
3223 40 Gold Plus Saturday $3,500.00 $1,285-$1,710

Odd 1BR Villa
3426 49 Platinum Saturday $3,000.00 $1,280-$1,705

Annual 2BR Villa
3419 35 Gold Plus Sunday $5,000.00 $1,300-$1,725
3228 33 Gold Plus Saturday $5,000.00 $1,300-$1,725
3221 24 Gold Plus Saturday $5,000.00 $1,300-$1,725
3110 28 Gold Plus Sunday $5,000.00 $1,300-$1,725

Annual 3BR Villa
4415 33 Gold Plus Friday $7,000.00 $1,320-$1,740
4214 29 Gold Plus Sunday $7,000.00 $1,320-$1,740

Annual Studio
3316 31 Gold Plus Saturday $2,500.00 $1,275-$1,700
3318 41 Gold Plus Sunday $2,500.00 $1,275-$1,700
3215 32 Gold Plus Saturday $2,500.00 $1,275-$1,700
3318 34 Gold Plus Sunday $2,500.00 $1,275-$1,700
3313 03 Platinum Plus Saturday $8,000.00 $1,330-$1,755
3212 22 Gold Plus Saturday $2,500.00 $1,275-$1,700
3315 31 Gold Plus Saturday $2,500.00 $1,275-$1,700
3217 30 Gold Plus Friday $2,500.00 $1,275-$1,700
3311 31 Gold Plus Saturday $2,500.00 $1,275-$1,700
3414 35 Gold Plus Friday $2,500.00 $1,275-$1,700
3211 46 Platinum Saturday $4,000.00 $1,290-$1,725
3214 30 Gold Plus Friday $2,500.00 $1,275-$1,700

I received an email that I am #3 on the wait list for the week 29 3bd. I can only hope the first 2 people didn't see the pricing and aren't interested....

 

[Carolyn]

There actually is an inventory sheet with the prices listed. A link to it ("Available Vacation Weeks") appears on the right hand side of the page once you've clicked the "Ownership Opportunities".

Here is a copy paste of it (sorry, don't' have the time to re-format):

Virgin Grand Villas-St. John Condominium

Unit Week Season Check-in Price Estimated Closing Costs

Annual 1BR Villa
3324 50 Platinum Friday $6,000.00 $1,310-$1,735
3225 27 Gold Plus Saturday $3,500.00 $1,285-$1,710
3427 35 Gold Plus Saturday $3,500.00 $1,285-$1,710
3125 39 Gold Plus Friday $3,500.00 $1,285-$1,710
3425 42 Gold Plus Saturday $3,500.00 $1,285-$1,710
3223 40 Gold Plus Saturday $3,500.00 $1,285-$1,710

Odd 1BR Villa
3426 49 Platinum Saturday $3,000.00 $1,280-$1,705

Annual 2BR Villa
3419 35 Gold Plus Sunday $5,000.00 $1,300-$1,725
3228 33 Gold Plus Saturday $5,000.00 $1,300-$1,725
3221 24 Gold Plus Saturday $5,000.00 $1,300-$1,725
3110 28 Gold Plus Sunday $5,000.00 $1,300-$1,725

Annual 3BR Villa
4415 33 Gold Plus Friday $7,000.00 $1,320-$1,740
4214 29 Gold Plus Sunday $7,000.00 $1,320-$1,740

Annual Studio
3316 31 Gold Plus Saturday $2,500.00 $1,275-$1,700
3318 41 Gold Plus Sunday $2,500.00 $1,275-$1,700
3215 32 Gold Plus Saturday $2,500.00 $1,275-$1,700
3318 34 Gold Plus Sunday $2,500.00 $1,275-$1,700
3313 03 Platinum Plus Saturday $8,000.00 $1,330-$1,755
3212 22 Gold Plus Saturday $2,500.00 $1,275-$1,700
3315 31 Gold Plus Saturday $2,500.00 $1,275-$1,700
3217 30 Gold Plus Friday $2,500.00 $1,275-$1,700
3311 31 Gold Plus Saturday $2,500.00 $1,275-$1,700
3414 35 Gold Plus Friday $2,500.00 $1,275-$1,700
3211 46 Platinum Saturday $4,000.00 $1,290-$1,725
3214 30 Gold Plus Friday $2,500.00 $1,275-$1,700

I received an email that I am #3 on the wait list for the week 29 3bd. I can only hope the first 2 people didn't see the pricing and aren't interested....

Outrageous closing costs! I noticed they didn't mention maintenance fees.

 

[tomandrobin]

I think the prices are good to fair.

Overall, this is a positive for existing owners. Better then passing on non-payment of fees to owners.

 

[DavidnRobin]

Missed the pricing link - thanks for pointing it out.

The closing costs do seem quite high (and what about the property taxes due? based on having a closing cost range perhaps this accounts for unpaid taxes) - I closed a villa using a USVI attorney and it cost me ~$450.

For Gold+ weeks the prices are essentially $7000, $5000, $3500, and $2500 for the 3Bd, 2Bd, 1Bd, and Studios (respectively).

What is very telling to me is that the non-Plat+ villa had a lot more 'returns' to the HOA than Plat/Plat+, and IMO clearly represents the decrease in value in the 'off-season' villas that is a reflection of the high relative MFs of these villa compared to their value (meaning that it is a lot easier for Owners to handle the MFs for the Plat/Plat+ villas than for the Gold+ villas)

 

[gregb]

I wonder if LisaRex has seen this thread? Hasn't she been agitating for the HOA's of other resorts to do exactly this?

It is good to see that the HOA is trying to move it's inventory, rather than give it back to *wood to resell. I don't own WSJ, but wonder how the HOA prices compare to current *wood "list" prices?

While the HOA of each resort is "independent", I wonder if we might start seeing similar offers for other resorts with high delinquency? It appears that *wood is accepting of this type of deal as I would guess their membership on the HOA could have blocked it if they wanted to.

Greg

 

[SLC]

I'm curious as to whether HOA board members got to participate in the sale? It seems to me that could be a conflict of interest if it were allowed. Does anyone know? Not much was explained in the letter. I do hope these sales continue.

 

[gregb]

I'm curious as to whether HOA board members got to participate in the sale? It seems to me that could be a conflict of interest if it were allowed. Does anyone know? Not much was explained in the letter. I do hope these sales continue.

I don't see it as a conflict of interest if they paid the same price as everyone else. The only conflict would be if they got to put their bid in before any others.
And maybe that could be considered compensation for all the time they put in being on the board.

Greg

 

[jarta]

Can't please very many here.

No resale program for owners - complaints and wild suppositions.

Resale program for owners - different complaints and wild suppositions. ... eom

 

[tomandrobin]

Can't please very many here.

No resale program for owners - complaints and wild suppositions.

Resale program for owners - different complaints and wild suppositions. ... eom

Still Happy.....Just Saying.

I hope they have a similar program for all of the resorts.

 

[cruzad3r]

Can't please very many here.

No resale program for owners - complaints and wild suppositions.

Resale program for owners - different complaints and wild suppositions. ... eom

LOL

So this is only valid for current good standing owner, well that sucks cuz I wanna get into the action

 

[jarta]

tomandrobin, ... Not meant for you. I hope so too.

 

[DavidnRobin]

Can't please very many here.

No resale program for owners - complaints and wild suppositions.

Resale program for owners - different complaints and wild suppositions. ... eom

Not following - is there another thread/discussion occurring on this subject?