Buying Vero Beach ?

[Boston5602]

In regards to Vero Beach if you buy resale , I know not all Vero points are subsidized but if someone is selling points that are ,do they continue to be subsidized or they turn into full price dues points?


thank you very much

 

[bobbiwoz]

I'm pretty sure that they continue to be subsidized. Those are the VB points to buy! Not us, we have the other ones.(Alas!)
Bobbi

 

[keys2kingdom]

OK Boston, this is something that I've never heard of can you fill me in please? I have a feeling I might be looking for a Vero resale later this year and I've never come across 'subsidized' points what are they? And why do they have lower dues? Was it some sort of incentive? Give me the scoop.

 

[Starr W.]

OK Boston, this is something that I've never heard of can you fill me in please? I have a feeling I might be looking for a Vero resale later this year and I've never come across 'subsidized' points what are they? And why do they have lower dues? Was it some sort of incentive? Give me the scoop.

"Subsidized Points"? lower dues? Please tell, like keys2kingdom I know I'll probably be looking at a Vero resale this year.

 

[jaysue]

For a period of time probably due to very slow sales (Disney had a very hard time selling VB - lots of Atlantic Ocean TS competition), they gave relief on the MF's to people as an incentive to lower a barrier to buying and give certainty on costs. I believe the subsidy is in the order of $1 plus per point

This went on for some time (ended before we bought in mid 2003). We own 180 at market MF's

My understanding is that once these contracts are resold the MF's go up to current market value. (this is not solid info, just my recollection)

Cheers
Jason

 

[keys2kingdom]

OK, so we've got 1 'yes' and 1 'no'. I'd say we need a professional to settle this.....paging Mr Yeary... Mr T E Yeary to the Vero resale thread please.

 

[KristiKelly]

I'm interested in this as well. We are looking at a possible VB resale simply because they're so cheap.

ETA: My guess would be that if/once the points are transferred into another name that fees would go up to regular $ per point.

 

[bobbiwoz]

The resort was supposed to be larger, and so the people who bought first got the MF based on a larger resort. Once the plan was changed, and the resort downsized, the MF were determined by the correct, lower number of villas. I do believe that the lower number hold on the ones that were sold first. Someone recently mentioned buying some of those points.

Bobbi

PS. This thread, of dues history seems to indicate that the subsidy was for those early buyers only. So, I am probably mistaken in the continuing idea.
http://www.disboards.com/showthread.php?t=1303513&referrerid=&highlight=Dues

 

[T.E. Yeary]

A Vero Beach property that is subsidized loses that benefit once it changes hands. Therefore, on the resale market all VB's are treated the same.

I hope that answers your question,
Tom

 

[DisDaydreamer]

So many people looking into Vero Beach... I'm starting to get nervouse about not owning there Waiting to see what Starbox does...

 

[keys2kingdom]

A Vero Beach property that is subsidized loses that benefit once it changes hands. Therefore, on the resale market all VB's are treated the same.

I hope that answers your question,
Tom

Thank you very much Tom.

 

[Boston5602]

Thank You Tom

 

[Mahusky]

Thanks Tom!

 

[bwvBound]

deleted! posted to the wrong thread ... sorry

 

[tvwalsh]

Tom Yeary is the owner of the Timeshare Store. So I consider the question answered.