Colorado TS worth the asking price?

[cyn5351 Junior Member Find all posts View Profile Close cyn5351]

I am new to the TS world and looking for some good advice. I have read numerous posts here and I hope someone can help. I am interested in purchasing a resale 2 bedroom TS in Beaver Creek, Colorado week 48 at the St. James Place. The unit has been recently remodeled and is not a lock off. The MF are about 1500 and 2010 is the last year of a special assessment so they should go down somewhat after this year. This would be a unit that me and my family enjoys…maybe some trade might happen in the future so trading or renting power is something I would like to have but not a high requirement.
I have seen nothing but positive feedback on this resort. I also looked at how much a similar unit would rent for during that week and the maintenance fees are significantly lower than what it would rent for.
I have read some of the transfer posts here and I think I have a pretty good plan to follow. It was great information.
The seller is asking 7k but would take reasonable offers. Is this reasonable? Or extremely high? What would be a reasonable offer? I am very interested in purchasing this unit.

Any feedback would be greatly appreciated.

[timeos2 Senior Member Find all posts View Profile Close timeos2]

Way too much if you want a deal

Offer no more than half the asking price (I'd go even lower - maybe 10% but thats me) IF I was convinced this is a week I'd use - not just for trade. For mostly trade anything over 10% of asking is too much. Remember that the true cost is the annual fees and, as you see, any unexpected special assessments. The actual purchase cost gets you nothing except the right to use a week and the lifetime, until you resell, obligation to those annual fees. Over paying for that is the biggest mistake new buyers make as it is unlikely you'd ever get much of that purchase money back.

It is a pure buyers market. Take advantage of it and really, really low ball your offer. You can always go up if you really want it and feel a higher price is warranted but once they accept a price you have committed. My offer would be around $1200 plus closing costs and then see what happens. Good luck! You may be very pleasantly surprised (even after an initial rejection a few days/weeks later they may come back saying they have reconsidered when they find little interest from others). Meanwhile you lose nothing by making a low offer.

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

How married are you to this resort/week/location? Would, e.g., a Marriott or Sheraton in Vail or other nearby location be "good enough?" Every time you restrict your choices, you decrease your leverage and chances to find a good deal.

Remember that this should not be an emotional decision. There are others out there who might sell their week (there's a week 48 over at timesharesonly.com for sale; this is not an endorsement of them, I don't know them, it just showed up in google). I'd make low offers to a variety of sellers and see if one hits.

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

I am not familiar with the resort but $7,000 seems pretty high in this market. Do a search for resales of this resort for resale prices bearing in mind that most sellers ask much more than what they can sell it for. A good place to start is "MyResortNetwork.com".

You should be able to negotiate a lower price as it is definitely a buyer's market.

[cyn5351 Junior Member Find all posts View Profile Close cyn5351]

That’s great information. I would certainly like to save some money. I looked at the Marriott in the area and it is rather run down. There is a Hyatt but the prices are WAYYYY out of my price range.
I researched prices for this resort on several different websites and found that the 7k is not unusual and most sights did not have anything listed for sale at all……. But I can always make an offer that they can refuse

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

If I would ever pay that much for a TS, it would be at a place as nice, and in as nice a place as St. James. It is one of the few truly outstanding resorts.

Too bad it's not Week 51 or 52.

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

If I would ever pay that much for a TS, it would be at a place as nice, and in as nice a place as St. James. It is one of the few truly outstanding resorts.

Too bad it's not Week 51 or 52.

Or weeks 1-10. Or maybe 1-12.

Week 48 is really early for the season and doesn't cover Thanksgiving (at least not most years). If you would use it, that's great, but I wouldn't expect a lot from a rental market - asking price listings are not a good barometer. Trading power may also not be as high as peak season, but I don't know how much the exchange companies will hit you since the resort is in such an extremely high category of quality. I just checked II and can see several nice resorts (including Sheraton Mountain Vista) just sitting there for that time period. You might ask SFX (see our "Ask SFX" forum) - they only take prime weeks at higher end resorts.

I wouldn't pay 7K for a week 48 anywhere unless it was in a points system that got me the points I needed to go elsewhere when I wanted to, or something that I planned on almost always using myself.

eta: I just checked II's Travel Demand Index. Week 48 is "neutral," suggesting supply and demand are about equal. Highest demand is for weeks 51, 52, 1, 5-13.

[HassieRiver Member Find all posts View Profile Close HassieRiver]

Look at Red Week and see what they have for sale in Colorado. There are some real good deals out there now !!

[cyn5351 Junior Member Find all posts View Profile Close cyn5351]

I've looked on RedWeek, SellMyTimeshare, this forum and several other places and it seems the amount is not abnormally high. But like the previous posters suggested, if I decide to make an offer I am going to make it significantly lower than the asking price.
Also, this week 48 really works well for us. It is the week immediately following Thanksgiving (most years) and that is right after ski season opens. We’re not huge skiers but like to try it once in awhile. We mostly just love going to the mountains and I thought this would be a cheaper way in the long run

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

St James is pretty high end..

No offense to the others, but that may not be a bad deal.. JLB is spot on that this is considered by many to be a premier resort!

I've seen these intervals sell for more.. Recently saw a week 49 that sold for $8,500. Certainly make an offer, but don't necessarily back away if they don't negotiate. If you don't take it, please send me a link..

Be sure your closing agent has handled these before. There is a transfer fee to the HOA and also a transfer fee to the Beaver Creek Resort Co.. Many don't realize the second fee is required, which can cause a significant delay with the transfer while everyone figures out who is paying the extra couple of hundred.

If you buy, do so with the primary intention of using at St James. If doesn't make much sense to buy a Cadillac and keep trading it for your neighbors Chevy.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

No offense to the others, but that may not be a bad deal.. JLB is spot on that this is considered by many to be a premier resort!

Since RP agrees with me, I agree with him.

The point is that St. James truly is one of those very special resorts, not just another resort, and to suggest comparing prices with others in the area is not very good advice.

Yeah, you can get a better deal at The Christie Lodge, or even at Streamside, but it is not St. James Place.

It was built and getting started when we spent more time in Colorado and I paid more attention to resorts there. Beaver Creek, and especially St. James, are premier destinations for skiers, and special people from all over the country and holiday weeks, like 51 and 52, were $100K.

Similarly, in SW FL in Snowbird season at the better sold-out resorts, $20K resale is not unusual. Often they don't even have to go any farther than to ask other owners of the same week who wants it, and know someone.

But Week 48 . . .

This is the type of resort which if I owned there and traded it for one of those 30-year-old motel conversions in SW FL, which it seems to take a good trader to do any more, I would be very upset.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I checked the normal resales sites and there are not many ski weeks for sale.

Here is a Week 48, 2 bed/2.5 bath, and it is $11K

St. James Place, Beaver Creek, CO @ Timesharesonly.com

Rental prices are very high, if they actually get them.

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

The point is that St. James truly is one of those very special resorts, not just another resort, and to suggest comparing prices with others in the area is not very good advice.

Who suggested that?

If you think I did, please go reread what I said. I asked him to be sure this was what he wanted. I did not suggest that he should compare prices from neighboring resorts to St. James. I wouldn't expect to get St. James for the price for which he can get Christie Lodge---I was asking him to think about it and be sure that St. James was a better match for his wants and needs. Taking a good hard look at that question means he'll be all the happier with his St. James purchase when he makes it.

I checked the normal resales sites and there are not many ski weeks for sale.

Here is a Week 48, 2 bed/2.5 bath, and it is $11K

St. James Place, Beaver Creek, CO @ Timesharesonly.com.

That's the same unit I pointed out in my earlier posting.

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

If you go here, you'll see two weeks 48 listed for $7,000 and $6,900, and a week 49 for $6,900. You could buy the same unit two weeks in a row.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

What? You think I read?