Wyndham Pagosa - Meadows Phase removal from Club Wyndham Plus?

[TUGBrian]

perhaps im reading this wrong, this was posted to facebook earlier today from an owner:

is mountain meadows just a single phase of this resort? from the comments it would seem lemonjuice is involved and that usually indicates a resort in financial distress making some really tough decisions.

 

[Floridaman76]

It's just one of several sections. There was a post on a facebook group about this and someone mentioned this section's units are being sold to be re-purposed as condos.

 

[paxsarah]

It's just one of several sections. There was a post on a facebook group about this and someone mentioned this section's units are being sold to be re-purposed as condos.

Yes, according to the directory it looks like there are 8 different HOAs at Pagosa, and this is just one of them.

Though this, along with a few other examples over the last couple years, does make me wonder if we're going to start seeing this happen more often with HOAs at the oldest legacy resorts. How many have an expiration date of the timeshare regime (as I believe this one did) that will require a vote to continue as a timeshare?

 

[Fido Chuckwagon]

What’s lemonjuice?

 

[DRIless]

What’s lemonjuice?

Home

EXPERIENCE THE LEMONJUICE DIFFERENCE DIFFERENCE The mission of Lemonjuice Solutions is to deliver the greatest value and enjoyment for the owners in community properties, such as condominiums, legacy timeshares, and co-ops. Lemonjuice Solutions has the investment capital, operational...

lemonjuicesolutions.com

Lemonjuice Capital Solutions buys timeshare contracts and get 52 weeks worth and sells as a wholly owned unit.
They are in the business of doing what they do, and they are good at it.
It's what happened to a section at Ocean Ridge on Edisto Island SC.

 

[Floridaman76]

Looks like companies like this could be a godsend to owners in financially bankrupt or failing timeshares. Maybe get some cash value out vs nothing or having to pay to exit ownership.

 

[jp10558]

I think I saw Bay Club II leave Wyndham also - I wonder how many locations will end up "lost". Is the issue these HOAs aren't getting enough MFs to refurb the resorts to keep them compelling to people wanting to stay or own there? Or is the demand just collapsing?

 

[rickandcindy23]

It wouldn't surprise me to see more Pagosa out of Wyndham. Some of the HOA's would not cooperate with Wyndham on updates that are due. Some of the areas are so beat up, and the wooden stairs need to be rebuilt at River Point.

 

[Floridaman76]

I think I saw Bay Club II leave Wyndham also - I wonder how many locations will end up "lost". Is the issue these HOAs aren't getting enough MFs to refurb the resorts to keep them compelling to people wanting to stay or own there? Or is the demand just collapsing?

I'm speculating here, but a lot of timeshares were built in the 80's and 90's. Some of those are now 40+ years old and need a lot of work to stay relevant. Or in some cases, to be kept safe.
Timeshare HOA's purposely defer maintenance and kick the financial can down the road to keep maintenance fees reasonable and avoid special assessmements until it becomes an insurmountable liability escapable only by bankruptcy and liquidation.

This is currently playing out all over Florida. The blue hairs from up north bought condos in the 80's, got on these COA boards and purposely defered maintenance to keep fees low, knowing they will be long dead before any of it was due. Then buildings started collapsing and Florida mandated inspections and minimum standards which have to be met by law. This is triggering special assessments and steep increases in COA fees. Causing the still living blue hairs to sell their condos at a huge loss and cry foul about how "the system" is screwing them. Even though this is all 100% self inflicted.

Meanwhile, as condos go belly up all over the state, companies like BLACK ROCK are buying them all up, dozing them and building new towers. This same cycle will happen again in 40-50 years when THESE buildings they are building now are similarly structurally unsafe and need to be replace.

Black Rock and their ilk will make their money and be gone before anyone knows or cares.

That's what is going on, but it's also not what anyone wants to talk about.

My parents owned in a condo tower in coastal Florida near Sarasota and saw this coming 2 years ago and amazingly timed their sale perfectly, Some of their former neighbors have had STEEP special assessments and insurance which was previously payed by the COA is now having to be paid by the residents. It's crazy.

They ended up taking their proceeds and buying a home on the coast near Sarasota which got mostly destroyed this year by Milton, but that's a different story.

 

[Sandy VDH]

A lot of independently run HOA are in that cycle of underfunded reserves. It is catching up with them, either by law (like in FL) or by diminishing Blue and White week owners bailing because MF are too high for off season weeks.

Only UDI points based system can evenly distribute the MFs costs across high demand and low demand units The MF per week is the same, but if you make it pure points you only pay your point value, not the blue and white with lower points subsidizing the red time owners, which are high demand, and thus higher points.

You may not like the big players, but boards with Mgmt reps do keep up on reserves, and there are less surprise SA as a result.

 

[CO skier]

perhaps im reading this wrong,

At the very least you will want to correct the overly sensationalistic title of the thread. Wyndham Pagosa is not seceding from Club Wyndham. Mountain Meadows, one of eight HOAs at Wyndham Pagosa, is terminating their timeshare interval ownership plan.

 

[CO skier]

It wouldn't surprise me to see more Pagosa out of Wyndham. Some of the HOA's would not cooperate with Wyndham on updates that are due. Some of the areas are so beat up, and the wooden stairs need to be rebuilt at River Point.

Their is no River Point HOA at Wyndham Pagosa. All seven remaining HOAs at Wyndham Pagosa have been completely refurbished. Elk Run completed Phase 2 renovations this past summer -- HVAC and parking lot paving.

Wyndham Pagosa has recently regained its Gold Crown status with RCI as a result of these renovations. Highly doubtful any of the remaining HOAs will be leaving Club Wyndham.

 

[TUGBrian]

updated title to reflect just meadows phase.

 

[rickandcindy23]

Their is no River Point HOA at Wyndham Pagosa. All seven remaining HOAs at Wyndham Pagosa have been completely refurbished. Elk Run completed Phase 2 renovations this past summer -- HVAC and parking lot paving.

Wyndham Pagosa has recently regained its Gold Crown status with RCI as a result of these renovations. Highly doubtful any of the remaining HOAs will be leaving Club Wyndham.

I am trying to remember the name of it. Maybe Village Point. Rickety stairs. I don't have a resort map.

We liked the Peregrine units.

 

[Jan M.]

I think I saw Bay Club II leave Wyndham also - I wonder how many locations will end up "lost". Is the issue these HOAs aren't getting enough MFs to refurb the resorts to keep them compelling to people wanting to stay or own there? Or is the demand just collapsing?

I think it's Club Destin not Bay Club II that's no longer in Wyndham.

Although I know one owner who is having issues because Wyndham somehow managed to change her Bay Club or Bay Club II contract to Club Destin on the website. She's been after them for months to fix it and has a ticket in, but so far they haven't done anything. Her points are as they should be so that's good.