Wyndham [details deleted] Advice on selling

[EileenL]

[Advertising - even unintentionally, is not permitted in the discussions forums - DeniseM Moderator]

 

[theo]

Don't shoot the messenger, but...

Your inquiry could be construed as a (prohibited) ad; don't be offended if some details get "edited out" by TUG moderators. My response below applies with or without any of those ownership details anyhow...

Sell ?? Unfortunately, the grim reality of today is that free Wyndham ownerships can be found openly advertised on almost any day of the week these days, including here in the TUG "Bargain Deals" section.
You may find (...as many have) that you may actually have to offer to give away your Wyndham ownership for free and pay the $299 Wyndham transfer fee yourself in order to even find someone willing to take it.

Once you find a willing "recipient", if there is no money involved (i.e., no escrow of funds required), there is a service in Cleveland, Georgia called Legal Timeshare Transfers that will competently handle new deed prep and recording and resort notification details for about $125. You can save about $100 of that cost by preparing and recording a new deed on your own, but why even bother? Time is money too...

I know that this is not what you want to hear, but the harsh reality is that your former purchase price, length of ownership and /or special assessments paid does not change the fact that Wyndham timeshares are currently available for pennies, or less. It might well cost you some money to get rid of it today.

 

[EileenL]

Thanks - I thought I saw other postings here with details

Seemed hard to ask a question without details - but for only $15 I have already been reprimanded - seemed pretty friendly to start but maybe not

Thanks for what you have shared here and your effort to answer my question when all my details were erased

 

[vacationhopeful]

Eileen,
Welcome to TUG! If you are giving it away, there is a thread call "Bargains Deals" which is a free ad section. Details allowed.

But you can add info under your name the resort and # of points you own there. Then post in threads that you are looking to get out of some of the timeshares you own.

 

[DeniseM]

Seemed hard to ask a question without details - but for only $15 I have already been reprimanded - seemed pretty friendly to start but maybe not

Thanks for what you have shared here and your effort to answer my question when all my details were erased

Eileen - Even though it was unintentional, your post included all the details of an advertisement. Others have intentionally used this ploy in the past, with the intention of soliciting offers in the discussion forums. That is why we do not permit intentional, or unintentional advertising in the discussion forums.

In your case the details are not necessary, because unfortunately, Wyndham timeshares are going for pennies on the dollar on the resale market. You got a very complete answer in post #2 that you will find very helpful and informative.

 

[theo]

Another $0.02 worth...

Thanks for what you have shared here and your effort to answer my question when all my details were erased

Fwiw, I saw all of the details contained in your original post before it was edited. My reply was prepared and posted before your post content was subsequently edited by a moderator. The info I provided in reply remains exactly the same, with or without inclusion of (or reference to) your particular ownership details.

As I suggested from the outset, you really shouldn't take personally any moderator editing of TUG post(s). Moderators here (...all of them unpaid volunteers, by the way) are only trying to ensure compliance and a degree of civility in TUG BBS discussions. They also vigilantly keep the seemingly endless stream of assorted shills and scammers and commercial advertisers at bay; those efforts are "priceless" and much appreciated. (It's also quite entertaining when intrepid, hapless shills bravely step forward on TUG, only to be promptly and thoroughly exposed and decimated by Denise's well-tuned radar and computer expertise).

In any event, as already mentioned above, you can attempt to give away your unwanted Wyndham timeshare in the TUG "Bargain Deals" forum, where you can provide any and all of the details about your ownership which you may deem appropriate. I have personally and successfully done exactly that myself (...adios, Wyndham ). Unfortunately, those ownership details are still not going to somehow magically create any "value" to the timeshare when "the market value just plain ain't there" in the first place.

 

[EileenL]

My intention was to ask a questions first

I knew about the Bargain area but wanted information first - unfortunately there does not seem to be a place to ask question without violating rules

I do truly appreciate your response

I will not pay to get rid of it

Maybe it will be better in a couple of years and maybe not

Why are Wyndham worse than others? Am I even allow to use the name here?

Please tell me what forum is ok to use details and ask questions without putting it in the Bargain basement bin?

 

[EileenL]

Thanks - YEs I knew about the Bargain Basement - I thought I was in forum 4questions

Eileen,
Welcome to TUG! If you are giving it away, there is a thread call "Bargains Deals" which is a free ad section. Details allowed.

But you can add info under your name the resort and # of points you own there. Then post in threads that you are looking to get out of some of the timeshares you own.

My intention was to ask questions first then decide what to do - I do not know where there is a forum for questions - I thought this one was - I know about the Bargain Basement Bin - I was not ready to put it there without questions and that is for selling or giving away and not questions

 

[theo]

Not necessarily "worse"...

Why are Wyndham worse than others? Am I even allow to use the name here?

Please tell me what forum is ok to use details and ask questions without putting it in the Bargain basement bin?

You basically can't post specific details of your ownership in any BBS discussion forum while indicating your intention to sell, without that post being regarded (reasonably and appropriately) as an "advertisement". There is a Wyndham-specific forum on TUG to post general questions and inquiries about Wyndham itself. There is a "Marketplace" section (see top of page)to advertise (at no cost to you) a timeshare for sale and there is the "Bargain Deals" section for low cost / free timeshare offerings.

Wyndham is not necessarily "worse" than others; the timeshare resale market is currently in the tank overall. Many people like the Wyndham system. Resale timeshare values currently reflect the overall state of a weak economic climate; timeshares of low demand quite simply have little or no market value at this time.

That said however, Wyndham has created assorted policy changes in recent years which were "unwelcome" to many Wyndham owners. For example, Wyndham has created a new mandatory and unavoidable $299 "transfer fee" for processing any and all Wyndham ownership changes, effective May, 2011. This fee is separate and apart from all other closing costs. Wyndham previously prohibited the owner-to-owner transfer of Club Wyndham points (effective March, 2009), basically thereby requiring people to "rent" any additional required points directly (and only) from Wyndham itself. Wyndham has also "tinkered" with the computation of fees for "every other year" (EOY) owners in such a way as to create a significant increase in annual fees for them. Wyndham "deposits" to RCI apparently aren't valued very highly for "exchange" purposes either.

If you have questions specific to the Wyndham system, there are many knowledgeable and helpful people to be found over in the Wyndham forum here on TUG. However, none of that (or any other) input will change the undeniable fact that there is "no market value at all" for many low demand timeshares these days...

Good luck.

 

[DeniseM]

Hi Eileen - If you have questions about Wyndham, you will get expert answers on the TUG Wyndham forum. Just don't say that your timeshare is for sale, and you will be fine.

 

[vacationhopeful]

Eileen,
For example, I can ask questions or talk about the even/odd year fixed week 9 that I own at Wyndham Santa Barbara or my deeded UDI 203K points at Wyndham Royal Vista. I can talk about how these have more value due to their location and time of the year ownership. I can ask questions about renting to cover my MFs or make a profit. But I can't say "I want to rent or sell by ownerships for $xyz".

Yes, winter Snowbird reservations do rent and cover MFs plus costs. But it is hard to get reservations without ARP. (And that is why I own some fixed weeks at those Wyndham resorts).

And Theo is absolutely correct about Wyndham has added on fees, which have had a negative effect on ownership in the last 3-4 years.

 

[EileenL]

Theo you seem most helpful - more questions

You basically can't post specific details of your ownership in any BBS discussion forum while indicating your intention to sell, without that post being regarded (reasonably and appropriately) as an "advertisement". There is a Wyndham-specific forum on TUG to post general questions and inquiries about Wyndham itself. There is a "Marketplace" section (see top of page)to advertise (at no cost to you) a timeshare for sale and there is the "Bargain Deals" section for low cost / free timeshare offerings.

Wyndham is not necessarily "worse" than others; the timeshare resale market is currently in the tank overall. Many people like the Wyndham system. Resale timeshare values currently reflect the overall state of a weak economic climate; timeshares of low demand quite simply have little or no market value at this time.

That said however, Wyndham has created assorted policy changes in recent years which were "unwelcome" to many Wyndham owners. For example, Wyndham has created a new mandatory and unavoidable $299 "transfer fee" for processing any and all Wyndham ownership changes, effective May, 2011. This fee is separate and apart from all other closing costs. Wyndham previously prohibited the owner-to-owner transfer of Club Wyndham points (effective March, 2009), basically thereby requiring people to "rent" any additional required points directly (and only) from Wyndham itself. Wyndham has also "tinkered" with the computation of fees for "every other year" (EOY) owners in such a way as to create a significant increase in annual fees for them. Wyndham "deposits" to RCI apparently aren't valued very highly for "exchange" purposes either.

If you have questions specific to the Wyndham system, there are many knowledgeable and helpful people to be found over in the Wyndham forum here on TUG. However, none of that (or any other) input will change the undeniable fact that there is "no market value at all" for many low demand timeshares these days...

Good luck.

A few thoughts
I was surprised when I found their barrier $299 and how they are sticking it to their owners BUT not shocked since I have not liked since Cendant got involved who are the same people who have the Wyndham brand now - when Cendant came on the scene is when fees started to rise drastically - yes I know it all split apart - they are out to get money from their owners one way or another - $300 + $150 means you might as well keep and use when maintenance is 540 - Just saying and hope that did not cross a line there and get deleted.

Questions
Ok you mention Wyndham was not a great one to trade because of their policies of the $299

Are there any that people find valuable? HGVC? or are they all junk now -

yet you have like 10 of them - how does that work for you? that is a lot of maintenance fees it seems - do you vacation that much at the resorts or trade them?

Saw another post where someone was talking about PCC with in the Bargain bin - what does that stand for

Will look at more information - I read so much before I even joined but had hit a road block because I wanted to know more I could not find in all the plethora of information posted on this site.

This site does not have much information or details on the location or that timeshare to get past experience - what are some of the issues of renting?

Thanks again for all your help Theo

*** Is there a way to get notification when someone has posted new within this thread

 

[theo]

Several more cents' worth...

Ok you mention Wyndham was not a great one to trade because of their policies of the $299...

Sorry, but that's not at all what I actually said. The new (since May, 2011) $299 transfer fee imposed by Wyndham upon a change in ownership is not in any way related to the fact that Wyndham weeks are simply not assigned a high trade value by RCI when such Wyndham weeks are "deposited for exchange" (to RCI) by the owner(s) of those weeks. Maybe an entirely irrelevant aside, but Wyndham actually owns RCI too...

Are there any that people find valuable? HGVC? or are they all junk now -

It's generally not really a matter of any particular "chain" (I don't own within any chain -- all my weeks are at "independents"). High demand weeks in high demand locations will always (and do) have value. Not so true, to say the least, for "off" weeks and / or low demand locations. Winter weeks at a certain facility in Key West, FL actually today command resale prices higher than what some owners there originally paid the developer, even in this sour economy. Then again, Key West is certainly quite "unique" in many ways...

yet you have like 10 of them - how does that work for you? that is a lot of maintenance fees it seems - do you vacation that much at the resorts or trade them?

I am a "Snowbird". Since retirement, I (try to) spend 8 consecutive fixed weeks in timeshares in SW Florida each winter (2 consecutive weeks at 4 different resorts). All of those weeks have value and could be readily sold (...but aren't for sale). I never exchange / trade; I no longer even belong to RCI. This "works" for me, as I want to escape some Northeast winter, I do not want to stay in motel rooms and I do not want the headaches and / or expense of owning and maintaining a "vacation home". My other two weeks are widely separated non-winter weeks in coastal Maine. All purchases were made in the resale market (none directly from a developer) and were slowly acquired and strung together over the years. I'm very fortunate and grateful that any or all of these weeks could be easily sold at virtually any time, likely for about what I paid for them in the resale market, maybe even a bit more in some instances. Just the same, maintenance fees continually increase --- at some point I would (and I will) likely question and reexamine the notion of "value".

Saw another post where someone was talking about PCC with in the Bargain bin - what does that stand for

PostCard Company; nickname for the many outfits that promise to "get you out of your timeshare" (...after you pay them several thousand dollars first, of course). The nickname derives from the fact that the historical PCC m.o. is to send out postcards to timeshare owners, inviting them to a "special meeting" in their home area. PCC's are best just ignored, imho. Where or how the PCC's actually obtain owner name and address info to contact them in the first place is an "unsolved mystery" --- but that wasn't your question.

what are some of the issues of renting?

Find the "Sticky" above the "Buying, Selling, Renting" forum entitled "How to Rent". You'll find lots of useful general information there, even if not specifically about your particular facility. You can look at resort reviews here and rental ads for your particular facility on other sites (e.g., RedWeek, MyResortNetwork, VacationTimeshareRentals, etc.). Potential issues with renting obviously start with the demand (or maybe a complete lack thereof) for the particular week being offered for rent. Other issues include identifiying an appropriate "rent" amount, dealing with hagglers, scammers, "tire kickers" with 1,001 questions, rental contracts, the potential for facility damage by "mope" renters, identifying clear and specific cancellation terms and policies, acceptable payment method --- et al. Renting is not for the impatient or for the inexperienced, at least in my opinion. I rent out weeks only when I absolutely have to do so --- and I frankly dread the entire process. Others seem able and willing to conduct rentals quite happily. God bless them...

Is there a way to get notification when someone has posted new within this thread

Anytime a new post is added to any thread within a fourm, that thread gets "bumped up" to appear at the top of that forum's list of threads. As far as receiving some sort of separate "notification" of new thread posts, I am not personally aware of such a mechanism, but I could well be mistaken (...or just clueless).

 

[learnalot]

*** Is there a way to get notification when someone has posted new within this thread

Yes. Thread tools: subscribe to thread.

 

[ronparise]

As in all real estate, a property is worth exactly what a willing seller and buyer decide its worth. In the case of Wyndham and I suspect other timeshares that value was never what the developers sales force was able to get. Lets face it; the buyers in a Wyndham sales room are not there willingly...they have been pressured into being there.

Theo has given you some hints as to how he assigns value, as has Linda. Both seem to go to the rental market. Theo bought for his own use and compares timeshares to what something similar would cost him in rent. If he gets better accommodations, cheaper, he is happy. Linda rents her timeshares and if she can cover her mf and costs she seems happy. the point of comparison is the rental market (I dont mean to speak for either Linda or Theo, but thats my takeaway from what they have written here)

I am a buyer of Wyndham timeshares and at this point I rent what I own (When I grow up I want to be like Theo and use them myself...but not yet, some of us still have to work) How do I decide what to buy and how much to pay....its a simple calculation...I wont pay more than a years mf in upfront costs, and I have to think I can rent it for 150% of mf..as you can figure out theres not much that I want and I dont pay much for what Im buying. There was a wyndham week advertised here on Tug yesterday where the seller paid the buyer to take it. I bid on impulse and was just seconds late with my bid...just missed it. and Im glad I did....upon further reflection, I think it was overpriced

Now heres the thing...I dont think most timeshares were ever worth much more than nothing. In other words, Wyndham timeshares (and others) have not fallen in value at all, they have always been worth nearly nothing. This whole industry started as a way for developers to unload unwanted ie worthless,condos. and that hasnt really changed. Wyndhams fees didnt bring prices down, The fact that you can rent the same thing for less (sometimes from Wyndham themselves) did.

If you want to be rid of your timeshare do what that gal did yesterday...pay someone to take it. If you are not willing to do that...keep it and enjoy it like so many of us do....Of course if you have something really exceptional, someone like me may give you a few dollars for it.

Good Luck

 

[ronparise]

Theo


this is way off topic but Im curious

Your picture here is a great looking big dog. Is that because you are a "big dog" or because you have a big dog?

If its because you have a dog, what do you do with him (her) when you travel South? One big reason I dont use my timeshares myself is that I cant bring my dogs.

 

[theo]

Theo lives on...

Theo

this is way off topic but Im curious

Your picture here is a great looking big dog. Is that because you are a "big dog" or because you have a big dog?

If its because you have a dog, what do you do with him (her) when you travel South? One big reason I dont use my timeshares myself is that I cant bring my dogs.

Whether or not I qualify as a "big dog", the photo of the beautiful German Shepherd in my TUG avatar is indeed "Theo" --- my faithful friend and companion for nearly 15 years until his passing several years ago.

Prior to my retirement and Theo's passing, I did not own or use the number of timeshare weeks which I have and use today. When I would travel to FL for my two weeks of vacation (always driving), Theo would always go with me. Upon arrival in FL, he stayed with my twin brother (and his dog) who live nearby year 'round on a large parcel of land in Lee County. Theo didn't love the arrangement, but adapted admirably (I think the "twin" apect gave him some reassurance that it was just temporary and that I wasn't ever really "gone" --- plus I'd be over there quite frequently to visit and fish with my brother.

Alas, today Theo travels with me still, but now only in spirit... Thanks for asking.

 

[EileenL]

Quote - Sorry, but that's not at all what I actually said. The new (since May, 2011) $299 transfer fee imposed by Wyndham upon a change in ownership is not in any way related to the fact that Wyndham weeks are simply not assigned a high trade value by RCI when such Wyndham weeks are "deposited for exchange" (to RCI) by the owner(s) of those weeks. Maybe an entirely irrelevant aside, but Wyndham actually owns RCI too... end Quote

I know you did not say that - but not knowing what will be deleted or not - I was avoiding the word Sell - which it seems can be used in reading others words but I have not discerned when it can be used yet -

Trade value for my one bedroom doesn't seem lousy after looking around over the last year - it is TP = 17 but maybe I am not seeing something - I do think having more TP is good for trades

Ideally I would rather be in your situation where you own what you want to use and don't trade but go to those - although that seems high per week, I understand compared to hotels at that same area and time of year it is good.

I have effectively traded but had better results with Last Call when they were not ridiculously priced. I loved when they were $149 - I strung together several for two week vacations.

I drove across country in 2006 and lucked out because RCI was changing their system and things popped up that I would never find now. I got a week at a Town and country Resort (high end hotel) in San Diego for $129/wk - One week in San Antonio for $220 - The sedona week was Extra Vacation and probably paid too much - $500 - At many I take the Timeshare tour and get the $75 to $100 to off set my expense -

It seems you have found a way to buy and use the right weeks - I bought the 1bdr to trade - I bought through a resaler and now know it could have been gotten for less - but 20 years have passed and I have enjoyed my weeks - Just now the fees and cost to trade have gone up

Yes I know Wyndham and RCI are owned by the same people still and have not been happy since they were taken over with the increase fees and marketing - but I can quit or continue to work the system to my advantage as much as possible.

 

[DeniseM]

Hi Eileen - Some clarification: You are welcome to talk about buying selling and renting in the abstract - that's what we do here. You only run into trouble when you state "I want to sell my timeshare" or "I want to rent my timeshare" and then post all the details about what you have for sale or for rent.

The reason for that rule is because in the past, people have used it as a ploy to advertise in the discussion forums.

It is perfectly acceptable, and encouraged to ask general questions.

BTW - 17 TPU is on the low side.

 

[EileenL]

Eileen,
For example, I can ask questions or talk about the even/odd year fixed week 9 that I own at Wyndham Santa Barbara or my deeded UDI 203K points at Wyndham Royal Vista. I can talk about how these have more value due to their location and time of the year ownership. I can ask questions about renting to cover my MFs or make a profit. But I can't say "I want to rent or sell by ownerships for $xyz".

Yes, winter Snowbird reservations do rent and cover MFs plus costs. But it is hard to get reservations without ARP. (And that is why I own some fixed weeks at those Wyndham resorts).

And Theo is absolutely correct about Wyndham has added on fees, which have had a negative effect on ownership in the last 3-4 years.

I like those Wyndham's - stayed at Pompano one 2010 and the Santa Barbara one 2011 - went to Timeshare presentation both years - the thing with Royal Vista is it would be nice to have Ocean View but not facing Ocean because Sun is too hot into the room - And there is no guarantee when trading in of the unit you get - Santa Barbara if you get high enough you have great view - love going from there to Fort Lauderdale - Love the Water Taxi - I could see how you would get good rentals BUT the MF must be super high there now - Santa Barbara had a bunch of years of Special Fees for Hurricane too - BEST part of those is you are able to use Royal Vista for Beach no matter what one you stay at

 

[EileenL]

tpu for 1 bdrs - what are some others

Hi Eileen - Some clarification: You are welcome to talk about buying selling and renting in the abstract - that's what we do here. You only run into trouble when you state "I want to sell my timeshare" or "I want to rent my timeshare" and then post all the details about what you have for sale or for rent.

The reason for that rule is because in the past, people have used it as a ploy to advertise in the discussion forums.

It is perfectly acceptable, and encouraged to ask general questions.

BTW - 17 TPU is on the low side.

Being a 1bdr TPU17 seemed to be higher than many I see out there. 2dbr get higher TPU and I suspect California TS are higher no matter what - I have seen some with only 10 or less

Do you have examples of 1Bdrs that are higher? Not the obvious like Manhattan Club or Key West but normal spots for vacation

 

[DeniseM]

Being a 1bdr TPU17 seemed to be higher than many I see out there. 2dbr get higher TPU and I suspect California TS are higher no matter what - I have seen some with only 10 or less

Do you have examples of 1Bdrs that are higher? Not the obvious like Manhattan Club or Key West but normal spots for vacation

There have been some threads on the Exchanging Forum comparing TPU that you may be interested in.

 

[funtime]

Welcome aboard!

Welcome and stay with us - the search capacity is great and you can search your particular resort and see what people have said about it as well as searching for alternate ways to use your timeshare. At the end of the year, we see many, many "discouraged" timeshare folks as Maintenance fees are due. Rental is a valuable option especially if you think you might want to go one out of two or one out of three years. We have a lot of threads on renting including renting on Redweek which often brings higher rentals than Craig's List. It is fun to actually use your timeshare and perhaps even beat the system by getting a rental higher than your maintenance fee on those years you do not. Funtime

 

[EileenL]

there is very little information on here about my home resort

Welcome and stay with us - the search capacity is great and you can search your particular resort and see what people have said about it as well as searching for alternate ways to use your timeshare. At the end of the year, we see many, many "discouraged" timeshare folks as Maintenance fees are due. Rental is a valuable option especially if you think you might want to go one out of two or one out of three years. We have a lot of threads on renting including renting on Redweek which often brings higher rentals than Craig's List. It is fun to actually use your timeshare and perhaps even beat the system by getting a rental higher than your maintenance fee on those years you do not. Funtime

My home resort in Georgia has very little information on here for previous activity by TUGG members - maybe none of them belong - I have been using my timeshare for over 20 years and have had fun with LAST call and getting two or three weeks vacation that way without trading - then I have my trade too - fees have gone up so much on LAST Call that I am looking for other avenues

 

[DeniseM]

I know you had trouble access the google search that I did, but maybe it will work if you do it yourself.

Put this in your google search box: "wyndham fairfield"site:tugbbs.com