Now that you all think I'm crazy -- Backed out of that deal -- and took THIS deal

[* Potential DVC'er *]

Ok, just spoke with Jackie Apetz of "atimeshare.com" thanks to those who have referred me to her, and she explained to me how I really need to concentrate on not only where I want to stay (OKW) but also just exactly how many points we really need. Plus she emphasized that we really don't want to start off with a "deficit" of points.

She had a listing for 189 OKW points with 87 banked to use for next year and that would give us plenty of points to even do a 2 bedroom for next year in the fall. It was listed at $62/point and they accepted at $58/point.

Closing costs will be $425 and the seller assumes the maintenance fees on those 87 banked points that I can use for next year (189 + 87 = 276).

Does that sound any better? I'm psyched! I thank these boards and the different websites I've visited and all those who I've been in touch with via pm's and emails! Thanks guys!

 

[Jimbo]

Well... As far as I'm concerned, more points is better than less points. The one that you were considering was 230 points, right? So my position is that this one is 41 points worse than the other. The 87 banked points are a one time thing, but the 41 points go on and on.

But that's me. If you're happy, just remember what Bob Dylan said: "Don't look back."

 

[* Potential DVC'er *]

Argh please don't tell me you think I've made the wrong decision!!

 

[RobDoc]

You don't mention what the use year will be for this contract. The $58 sounds fine (there's that magic number again), as do the banked points- but it sounds like that means that 102 of this year's points have already been used and that you will still pay maint. fees on those in Jan. If the use year is before Jun, this is similar to the other contract- just fewer points. If the use year is Aug-Dec- then you still won't get more points until that time, but will have already paid fees on the points.

No right or wrong- just some issues to consider. If the 189 will suit your normal annual needs then it sounds great!

A 2BR at OKW for 7 nights is 218 points in Sept, 232 in Oct/Nov, 263 for May and 296 for March, April, July, etc.
Eliminate the weekends and the 5 nite stay for the same times would be 110,120,135 and 150.

Good luck with your decision.

 

[cherylp3]

potential DVC-er

I'd have to agree - figure out what kind of accomodations you want to stay in and when you would want to stay in them,

then buy based on that figure..

Good luck!
Cheryl

 

[* Potential DVC'er *]

Quick run down -- use year is "february" on this 189 contract. The 87 points she is "giving" to us. So we'l have 279 to use starting in February right? Doc - is that good?

We more than likely only need a one bedroom - and as long as it's just us 4 and the kids are small we could even do a "studio" if we had to (but I hate to give up that huge room!).

Now I just saw a "210" on the timeshare store - just reduced - with some 71 points for using and they'd probably go $58 per point - my goodness I can see how this gets crazy!

I think we need to just buy and get it over with!!! I just don't want to do the wrong thing.

 

[RobDoc]

Quick run down -- use year is "february" on this 189 contract. The 87 points she is "giving" to us. So we'l have 279 to use starting in February right?

Feb use year is good- that means you'll get your 189 points each year on Feb 1. The 87 "extra" points are for this year only.

Just figure out how many points you'll want to use each year and go for it. (Yes, you can easily use a studio. Just look at what a few more points could allow your family to use and if that's worth it to you.)

Good luck!

 

[KNWVIKING]

..like others said, you have to determine how many points your going to need to stay in the size room,time of year and length of stay. If the 189 fits your needs,why spend money on a larger contract. BUTTT..... a word of warning !! DVC is addictive and this board is full of addicts.You can NEVER have too many points. Don't base your purchase on the banked points,they are a nice bonus,but like someone else said,they're a one time thing.

 

[* Potential DVC'er *]

Ok, now that I'm thoroughly confused. I'm just so wondering what exactly to do. I've seen a fully "loaded" contract (see I'm getting used to the wording) on timesharestore for $66/pt - and it has banked points from 2000, all of the points (210) from 2001 and another fresh 210 coming for June 2002. Now that sounds appealing (until of course they start talking about paying past maintenance dues? Do they do that? What about getting that package and renting away those points??

I just don't know what to do - Jackie convinced me that the lesser points without the deficit was the way to go -- oh too that is a "two contract" deal (she told me about at the end) and she said it was no problem that the seller pays to transfer the titles etc. She said it would be easier to sell with two contracts if I ever sold.

Finally - I just think the most important thing like some have mentioned and that is to 'do it' and then don't look back. Wish us luck!

 

[TrudyZ]

Lisa:

Don't pay dues on banked points (or at least word your deal that way). You will pay dues on the points coming in 2002 no matter who the contract is through. The other negotiating point is who pays for the dues for the 2001 points (this year's points).

In the 189 point contract, where are the points from this year? It sounds like the seller used 102 points out of this year's allotment and banked the rest. You can readily negotiate whether you will pay the dues for some, all or none of 2001's allotment for any contract.

Be patient and figure out exactly what you want. Then, get on the waiting list. When I bought earlier in the summer, the market was much hotter than it is right now. Things didn't even make it to the websites. Sometimes there were only a couple of listings on the websites total. I never thought I would find anything. The best advice I got was to be patient and wait for what you want. It only took about 3 weeks for the perfect contract to come up--and it never showed up on the website--most of the best ones don't. Jaki (and Shontell) get contracts to list every day. I guarentee you that within the month or two you will find exactly what you want.

Please, so you have no regrets, take a little time to figure it out. Take a deep breath and think about what your vacation habits will be, what season you will be going in, what size accomodations you will want, how many days at a time, etc., etc.

How much do you want to spend? It is easy to have "scope creep" (for any of you in the design/construction business, you know what I mean). I found that when I first started, I really could talk myself into quite a big contract. After a reality check with my husband, we settled on a price range, accomodation size, number of trips and days, etc. Personally, we decided that we would do two, 7 day trips a year in a studio (just a family of 3) or 1 trip a year in a 1 bedroom. Our target months are April/October. We don't have a lot of family or friends we would be taking, and we figured if we ever did that, we could rent a few points for that "every 5 year" event of larger accomodations. We bought enough points to include the weekend nights, since NWA has us by the **** here and we never see those $99 fares, airline ticket prices plays into it--it just doesn't seem worth it for less than 7 nights. Plus, we find that we need 7 to do what we want to do during a trip (and it still really isn't enough time).

Trust me, the resale market for DVC will not dry up tomorrow. You are in the driver's seat right now with the economy. Use that to your advantage---then, when you find the right contract, you will know it.

I will say that overall, the more banked points a contract has the better "deal" it usually is. And, even though those points are a 1 time shot; you can spread the effect of them over several years (using the banked points for your first trip, banking the next year's allotment, etc.) You could potentially get a little bigger accomodations for a few years (using a portion of the "pot" extra points). Of course, you could always blow them on several days at the Grand on Mackinac Is.


Feel free to email me with any more questions.
Trudy

 

[* Potential DVC'er *]

Trudy! thanks again for replying and your help -- I had just fired you off a long email and then I saw the post! I listed those four choices in my email to you and I think the best shot is the 'loaded' contract - but that's not what I've currently "bid" on and got the bid accepted (and actually Jackie is typing up the contract tonight) - I hate to do that to jackie and say "no" and then go back Chontell for a different contract altogether! Even though I just started - I'm afraid that each would say -- "not doing business with her again I don't care what the story is!"

 

[prplcrzy]

Potential,

I just bought a resale from the Timeshare Store and they were great. This sounds really complicated, but the trick is converting apples to apples. Points have a $ value. The closing costs need to be considered. The dues need to be considered. These are all costs that can be added up and then divided by the total number of points to get a per point cost. Banked and borrowed points should be the last thing considered and taken out of the cost calculation, but considered when making your purchase. Banked or borrowed points are one shot deals and have very little to do with the price you should pay.

I'll give you examples-

Boardwalk will be the property used for the example.

A contract with 200 points, listed at $60 per point with no points available for the current year and 100 banked points starting for your next use year. You should make your offer based on --

Total for points - $ 12,000
Closing costs - $ 500 (estimated)
Dues $ 0
Total $ 12,500

Per point cost - $ 62.50

A contract with 200 points, listed at $60 per point with all points available for the current year and no banked or borrowed points starting for your next use year. You should make your offer based on --

Total for points - $ 12,000
Closing costs - $ 500 (estimated)
Dues $ 766 (based on $3.83/point)
Total $ 13,266

Per point cost - $ 66.33

A contract with 200 points, listed at $60 per point with no points available for the current year and no banked points and 200 borrowed points starting for your next use year. You should make your offer based on --

Total for points - $ 12,000
Closing costs - $ 500 (estimated)
Dues $ - 766 (based on $3.83/point)
Total $ 11,734

Per point cost - $ 58.67

You should never pay for dues on points not currently available. You should get a credit for dues on point already used (borrowed) and then the decision comes into play. Can you see yourself paying for the points and use them the next year (example 1) Having a glut of points and having to used them (depending on banking windows) right away and paying more, (example 2), or not having any points to use through the next year (remember you can borrow once your use year rolls around) and paying a lot less for the points.

Dues are negotiable and if you don't know any better you may pay dues on points that you can't use. Just calculate it out and decide based on an apples to apples comparison and you won't make a bad decision, just the one that is right for you.

Good luck, I love my OKW package I bought for $58/point before the credit for the dues because it had borrowed points.

 

[robinb]

I also bought a resale (OKW) many years ago from Shonel's company before it was "The Timeshare Store". I think you did the right thing by coming her for advise, but you may be a bit late if you already have an offer on the table with Jackie. Your offer may be binding and you may be stuck.

Just so you understand ... Jackie (and Shontel and others) are in the business of selling timeshares. They represent the seller and not the buyer. It is in their best interest to sell you one of their customer's contracts. While they are a wealth of information and (I've heard) very nice women ... they still do not have your best interest at heart.