AP Story Wrong On DVC

[carlbarry]

Oh, I wouldn't let the writer off that easy. The quote from Weir may or may not be accurate to what he actually stated, but regardless, the erroneous part of the reporting was when they included Disney in their list of "timeshares at higher-end properties" that failed to hold value, which is largely untrue. This was a sloppy mistake for sure. But I have trouble dismissing the article in its entirety based on that one mistake.
Hahaha! Negative. Not in Journalism, nor is anyone I know. Just a consumer. Please google "would vs. wouldn't Russia" and perhaps you'll see my comment above in a different light. Cheers.

In reality, the writer was probably assigned to do the story. And most likely, the writer was not as informed as we here are about timeshare. So she did some research. Probably was told that "timeshares can only be sold for a fraction of what the buyer paid," and assigned that to all timeshares, including DVC. Now, on limited time and budget, could the writer check prices that people paid vs. what the resale amount would be for ALL timeshares? Of course not.
And I doubt that she would use the "would/wouldn't" excuse, as she would hope her readers are not that gullible.

 

[Dean]

For a new buyer currently they will likely lose money if they go to resell but it should be a lot less than most timeshares. There are other options that will sell better than most as well. The last few years have been weird, the prices can't be sustained at this level resale IMO. I'm not predicting a fire sale, just a pullback at some point.

 

[bumbershoot]

Eh, doesn’t bother me.

My divorce attorney didn’t understanf the value of the DVC either. Doesn’t make her bad at her job.

 

[carlbarry]

Eh, doesn’t bother me.

My divorce attorney didn’t understanf the value of the DVC either. Doesn’t make her bad at her job.

First time I went to Orlando and suckered into a Wyndham timeshare sales meeting, I was told it would cost me, if memory serves, around $18,000, and more on time. I looked around the room at the people who had come in for the free stuff, and decided that most would never be able to afford the monthly fees, and would have to sell. My guess was they'd be selling at around $12,000. Then I got home and did some research, and found that Bonnet Creek TS was selling for around $1,000 (2006). Who would guess that something would be offered at such a hugely inflated price--I mean, you don't go to one car showroom and get told the 2018 Prius is $30,000, and then go to the next showroom and get told it's $3,000!

 

[DenLo]

I am wondering it was a typo and should have been 15% of the purchase price. Although there are some timeshares that really drop in price on the resale market.

 

[deerh]

Some people may have lost a significant amount on DVC. I am shocked that Aulani resales are going for $90 to $100. DVC is currently selling for $182. Aulani started at $114. So anyone selling is most likely taking a loss.

So.. based on your analysis, IF I bought Aulani at $114/point and 200 points, that would be $22800. IF I was to sell it for $100/point now, It would be worth $20000.. That is only a 12% loss, not 33% or more... I would say that is a lot better than Wydham, or other timeshares out there... AND, add to the fact that it is probably/maybe the only DVC that is like that.. Now of course, if someone buys CC for $182/point now, and sells next month, that is another story for another time.....

 

[DebbieB]

So.. based on your analysis, IF I bought Aulani at $114/point and 200 points, that would be $22800. IF I was to sell it for $100/point now, It would be worth $20000.. That is only a 12% loss, not 33% or more... I would say that is a lot better than Wydham, or other timeshares out there... AND, add to the fact that it is probably/maybe the only DVC that is like that.. Now of course, if someone buys CC for $182/point now, and sells next month, that is another story for another time.....

I wasn’t comparing to others. I was just saying I was shocked when I saw resale prices on Aulani. Anyone would be foolish to buy Aulani direct at this point, immediate almost 50% loss in value.

 

[drusba]

I wonder if it is even a valid article and whether Newsday may have been duped. The article states it is by "NerdWallet" with the "Associated Press." I think I can make a fairly accurate guess that there is no such named person with the Associated Press and generally for articles delivered by the AP you don't publish "Associated Press" all over them and rarely the actual author. My guess would be that the article actually came from one of those organizations that calls you every month about getting rid of your timeshare for a fee.

 

[carlbarry]

I wonder if it is even a valid article and whether Newsday may have been duped. The article states it is by "NerdWallet" with the "Associated Press." I think I can make a fairly accurate guess that there is no such named person with the Associated Press and generally for articles delivered by the AP you don't publish "Associated Press" all over them and rarely the actual author. My guess would be that the article actually came from one of those organizations that calls you every month about getting rid of your timeshare for a fee.

Associated Press started carrying articles written by NerdWallet 2 years ago: http://talkingbiznews.com/1/ap-to-begin-carrying-nerdwallet-content/
Newsday and other newspapers always credit AP when they run one of their articles, as well as the AP reporter's name. Probably required contractually, as well as transparency of full disclosure that it wasn't written by a staffer at the newspaper.

 

[drusba]

Associated Press started carrying articles written by NerdWallet 2 years ago: http://talkingbiznews.com/1/ap-to-begin-carrying-nerdwallet-content/
Newsday and other newspapers always credit AP when they run one of their articles, as well as the AP reporter's name. Probably required contractually, as well as transparency of full disclosure that it wasn't written by a staffer at the newspaper.

So what I see now is that the Associated Press has a contract to publish stories, without using the authors actual name, provided by an organization, NerdWallet, that is in the business of promoting and selling financial products provided by numerous financial institutions, gets its income by being paid when someone clicks on and buys such a product, and Associated Press is representing the stories from this organization as actual news rather than advertisements, and apparently doing nothing to check their accuracy. AP has changed from the news organization that I knew years ago.