$1 Timeshares?

[DisneyStoryMania]

Great post everyone, I used the dis boards as one of my research tools before we bought DVC...

We did however look into other TS's as we seen all the E bay Chatter as well.

In our opinion we decided on DVC for several reasons, yes the resale value on DVC may drop at some point but the likely hood of DVC dropping as oppose to another or I should say some others that we looked at, gave DVC the edge with us.

We Looked at location and flexibility when purchasing our TS'. And again Disney came out on top.

Another aspect we looked at was naturally the maintenance fees, we have the chance to pay higher maintenance fees at some point but we thought about it like this, Say for example we bought a timeshare with owner ship interest around Daytona, say like 5 years ago. Well the attraction to that location has dropped significantly in the past five years thus the willingness to sell a TS's low just to get out of the maintenance fees.

And then I researched Disney, the accommodations and quest at Disney have increased over the last five years by about 15% as they have watched others drop,

now we are not to smart and not TS wizards but those factors alone are what helped us to make our decision.

As I am New to DVC "I HOPE WE MADE THE RIGHT CHOICE"

 

[chalee94]

It cannot be the DVC points. Disney has the right first to buy points back from you. They would never let them go for that amount of money.

never is a long time.

in 2040, DVC might not care as long as someone pays the final year of maintenance fees...

 

[Dean]

It cannot be the DVC points. Disney has the right first to buy points back from you. They would never let them go for that amount of money.

Beware
BlackRock

That's what Marriott people said 2-3 years ago as well. Would you have believed SSR clearing at $30 a point? I bet most would have said that would have never happened either.

 

[JimMIA]

Would you have believed SSR clearing at $30 a point? I bet most would have said that would have never happened either.

Dean, where did you see SSR @ $30???

Not doubting, but I can't find it on our ROFR thread.

 

[arthur06]

That's what Marriott people said 2-3 years ago as well. Would you have believed SSR clearing at $30 a point? I bet most would have said that would have never happened either.

Has SSR passed ROFR in the $30's?

 

[Dean]

Has SSR passed ROFR in the $30's?

My info is yes, can't say more at present.

 

[JimMIA]

My info is yes, can't say more at present.

WOW, that's interesting. Obviously, that would be an outlier, but outliers often give a good indication of where things are going.

I've been thinking that we're already past the point where it just makes no sense to buy from Disney direct.

But if things slide that low, it will be time fot a good "How to buy timeshares on eBay" thread!

 

[Dean]

WOW, that's interesting. Obviously, that would be an outlier, but outliers often give a good indication of where things are going.

I've been thinking that we're already past the point where it just makes no sense to buy from Disney direct.

But if things slide that low, it will be time fot a good "How to buy timeshares on eBay" thread!

I think we crossed the line of any reasonableness for buying retail somewhere back about $60-65 a point for SSR with some variables of course. However, I don't think we'll get to the point where people are buying DVC for other options like exchanging unless the exchange options are changed to allow direct II or RCI membership. Even then the dues are so high to make it far too expensive for most situations that do not include one who feels on site is worth a major premium.

 

[blondietink]

Be very cautious if you are considering buying anything off ebay in Hawaii, especially Maui. The government is raising the property taxes on timeshares there to something like $19.00 per thousand, and the property tax on regular homeowners is something like $2.50 per thousand. there are many timehsare owners on Maui trying to dump their properites at very discounted prices. there is a lot of info. on this on the TUG boards.

 

[JimMIA]

Be very cautious if you are considering buying anything off ebay in Hawaii, especially Maui. The government is raising the property taxes on timeshares there to something like $19.00 per thousand, and the property tax on regular homeowners is something like $2.50 per thousand. there are many timehsare owners on Maui trying to dump their properites at very discounted prices. there is a lot of info. on this on the TUG boards.

Good advice. As someone who had only owned DVC and then bought another timeshare, I can tell you that it gets rather complicated once you get beyond DVC. Not really more difficult in many cases, just different.

For example, until this year (I think) Wyndham billed Florida (and only Florida) property taxes separate from the rest of the MFs. Fortunately, there were places like TUG and friends here to point out nuances like that.

Another good example is the Hawaii tax on stays (I forget what it's called) at Hawaiian timeshares. There are going to be a lot of "HEY, WHAT'S THIS???" threads here when Aulani opens.

So you really have to investigate all aspects of any timeshare purchase carefully.

 

[blondietink]

I think it's called an transient accommodation tax. And it gets expensive, something like $45.00 per day, and depends on the size of the villa/points used. Kind of defeats the purpose of having a timeshare in Hawaii. Yes, when DVC Hawaii opens, even though that tax is in the fine print, I'm sure people are going to be surprised when they get a bill for the tax at the end of their trip. I think DVC relaly needs to specify how much per point used the tax will be so people can plan in advance.

 

[JimMIA]

I think it's called an transient accommodation tax. And it gets expensive, something like $45.00 per day, and depends on the size of the villa/points used. Kind of defeats the purpose of having a timeshare in Hawaii. Yes, when DVC Hawaii opens, even though that tax is in the fine print, I'm sure people are going to be surprised when they get a bill for the tax at the end of their trip. I think DVC relaly needs to specify how much per point used the tax will be so people can plan in advance.

Yeah, I knew it was substantial. I can just see someone going to Hawaii for their "dream vacation," spending way more than they thought they would spend, and then getting slammed at checkout with a TAX BILL of $300+!

Hopefully DVC will appropriately warn owners and guests. That would be easy to do in the confirmation letter/email.

 

[hakepb]

My info is yes, can't say more at present.

I would guess a short-sale of a distressed non-Disney owned mortgage.
If Disney ROFR'd they'd have to pay the full mortgage (that plus their fees might make that ROFR very expensive to Disney) or deal with another foreclosure.

 

[Dean]

I would guess a short-sale of a distressed non-Disney owned mortgage.
If Disney ROFR'd they'd have to pay the full mortgage (that plus their fees might make that ROFR very expensive to Disney) or deal with another foreclosure.

A point made early is a valid one, such distress sales end up setting the course for future sales. Without ROFR and with this present change, the gap will widen over time. While there will always be an inherent value, timeshares resales, even good ones, often do not represent the inherent value very well. Put another way, I think you'll see SSR level out around $40 a points or a little lower and HH/VB at maybe $28-30 a point.

 

[MD_Guy]

Put another way, I think you'll see SSR level out around $40 a points or a little lower and HH/VB at maybe $28-30 a point.

Would love to buy up some $40 pp SSR loaded contracts!!!