Is anybody familiar with Wapato Point?

[Lanalee Senior Member Find all posts View Profile Close Lanalee]

What is a fair purchase price for annual 1-week timeshare at Wapato Point? I understand maintenance fees are $640/year. I have an opportunitiy to purchase, but I don't know what is a fair price.

Thanks!

[Bill4728 Super Moderator Find all posts View Profile Close Bill4728]

First I love Wapato, I grew up with a house across the lake from there. Spent many a summer day sitting on those beachs. (long before the development)

Go to the web site for wapato link and there is a link to a realtor who sells tons of WP. Start there.

I'm confused though, I believe that the condos at Wapato are all 5 weeks a year. So when you buy a condo you'll get 5 weeks, one in summer, fall, winter and spring (and maybe one more) and each year the week you get will rotate. So every year you'll get a summer week but each year the week will change. (and every 5 years you'll get 2 summer weeks.)

Blue boy and Iamwalrus over on TUG both own there.

[Lanalee Senior Member Find all posts View Profile Close Lanalee]

I didn't know they were all 5 weeks per year. Can an owner sell one week, and keep the rest for himself??

[Bill4728 Super Moderator Find all posts View Profile Close Bill4728]

I don't know for sure, But I've been told that WP is a great value because you get all these weeks.

There may be some single, fixed summer weeks, I don't know.

Some resorts which have a high demand summer and low demand rest of the year, will sell only packages of muliple weeks, hoping that people will pay MF on all their weeks because the love their summer week so much. Generally you can't sell just one week of the package you must sell them all.

Hope that helps

[4ARedOctober Super Moderator Find all posts View Profile Close 4ARedOctober]

WP is one resort that I have found to always has availablity in RCI for all season and times. This includes exchange and last minute rentals. Now I understand why....if I had five weeks there I would be depositing them too.....how is it as a trader in RCI?

[Bill4728 Super Moderator Find all posts View Profile Close Bill4728]

WP is a great resort for trading because it is a RCI point resort which charges very little to convert to points. As a weeks trader, I don't know.

So if you're looking for an inexspenive RCI points resort this may be it.

[Bill4728 Super Moderator Find all posts View Profile Close Bill4728]

WP is a great resort for trading because it is a RCI point resort which charges very little to convert to points.

Wapato is one of a hand-full of resorts which has RCI does the point convertions directly. So RCI, set the charges for convertion to RCI points and therefore the buyer gets a great deal.

[WazzuCougFan Senior Member Find all posts View Profile Close WazzuCougFan]

Hi! I am a very new owner to Wapato Point. I haven't even been there yet, but chose it primarily because it's about three hour's drive from me. I purchased it from rsonc (Susan), who is a member here. My ownership was already converted to RCI Points.

The way Wapato Point is set up, I wasn't aware you could buy a single week.
There is a variety of ownership week numbers, depending on where the particular unit is located. The units are Beach (3 weeks), Lodge (3 weeks), Tennis (3 weeks), Lakeside (3 weeks), Yacinde (4 weeks), Ellowee (4 weeks), and Nekquelekin (4 weeks). This link might help you with a map of the resort and calendars:

http://www.wapatotimeshares.com/inde...4894da8dfd6279

Wapato Trader might have some helpful information as well: http://www.wapatotrader.com

I own a Beach unit. Every year I always have a red week, a blue week and a white week, which rotate. The red weeks at Wapato Point are highly sought after. Most of the rest of the year you can find Wapato Point units listed in Last Call.

My ownership can generate up to 127,000 RCI Points, depending on when the red week falls (between June and September). What Susan did, and what I plan to do, is rent out the red week and use the other two weeks for points. It leaves me with about 63,000 points for the year, sometimes less. The maintenance fees are $448.50 per week = $1,345.50. Renting out the red week can cover the year's fees.

Some other important facts: Wapato Point is located on Indian-owned land and is leased by the tribe. The lease comes up for renewal in 2075. Personally, I don't think I'll care much at that point. Also, if you rent a week (and if you buy a unit), the tribe gets an extra 3.5%.

I'm a little concerned that someone is offering to sell you one week and that they told you the maintenance fees are $640 for a year. You might need to drill them some more about the details. There are a couple other resorts in the area: Peterson's Waterfront and Lake Chelan Shores.

I had a great experience buying from Susan / aka rsonc and wouldn't hesitate to buy from her again. She was wonderful through the whole process and we talked on the phone and e-mailed frequently.

WazzuCougFan

[Lanalee Senior Member Find all posts View Profile Close Lanalee]

Thanks for the information everyone! I appreciate it.

According to the seller, he's selling 3 weeks every 2 years. In 2007 I'd get a week in April and November, in 2008, I'd get August. He's selling for $3,000. He has two segments and he's selling one. I'm not sure what that means? Sounds like a shared membership maybe?

I plan on calling him to get more clarification on this. But all the information you gave me here really helps!

[PA- Junior Member Find all posts View Profile Close PA-]

Thanks for the information everyone! I appreciate it.

According to the seller, he's selling 3 weeks every 2 years. In 2007 I'd get a week in April and November, in 2008, I'd get August. He's selling for $3,000. He has two segments and he's selling one. I'm not sure what that means? Sounds like a shared membership maybe?

I plan on calling him to get more clarification on this. But all the information you gave me here really helps!

No, not a shared ownership. It's actually called a "half share", but that's not really accurate. It's actually a 1/39th fractional share, you get 1 week one year, 2 weeks the next. Generally, the year in which you get 1 week is a red week (may - Oct) and the year you get 2 weeks in during the first part and the last part of the year. Of course, one or more of the weeks during the first or last part of the year could possibly be red (pres day, christmas holidays, thanksgiving, etc).

This is in the Tennis section of the resort. It is actually the least preferred by most people, as it is the furthest from the amenities (other than the Tennis courts) and the lake. However, they are all 2 bedrooms with nice floorplans. The older buildings, in most cases, have unusual floorplans.

$3000 is the asking price through the realtor, usually. I believe I sold Boyblue the same type ownership for just over $1000, if I remember correctly.