Why buy a Timesharing

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

I Live in Portugal and I have 2 weeks on starwood vacation ownership

Sheraton Vistana Villages (US$19000 ) 2BR
The Westin ST. John Resort & Villas (US$40000) 1BR

For this year I pay US$2000 for USVI maintenance and US$1000 for Sheraton maintenance.If you dont pay you can lose all your investiment ; ONLY in the US!!!!

If you go the Starwood Preferred Guest - Hotel Offers and Loyalty Program spg.com site and make a quotation for 1 week in august on Sheraton Vistana Villages you pay US$1200 for a 2BR .

TimeSharing no more .

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

It's a sad state of affairs, isn't it?

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

ppina

If you go the Starwood Preferred Guest - Hotel Offers and Loyalty Program spg.com site and make a quotation for 1 week in august on Sheraton Vistana Villages you pay US$1200 for a 2BR

Hi ppina, and welcome to TS4M's

I feel your pain.....I too purchased some of my timeshares directly from the developer. You do much better when purchasing a timesale resale. That being said, there are a few things to consider.

Orlando is a very built up location, and August is not peak season. I'm sure that the rates are higher during the winter months, for both locations.

You own a 2 bdrm...Can you lock it off, and what season do you own in?

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

The Westin St John is a lovely property and difficult to get. Depending on which week you own you could surely rent it or sell it.

Worth what you paid for it? Not to me. This is one resort where the resale is still pretty good. Not $40kUS good but good.

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

I Live in Portugal and I have 2 weeks on starwood vacation ownership

Sheraton Vistana Villages (US$19000 ) 2BR
The Westin ST. John Resort & Villas (US$40000) 1BR

For this year I pay US$2000 for USVI maintenance and US$1000 for Sheraton maintenance.If you dont pay you can lose all your investiment ; ONLY in the US!!!!

If you go the Starwood Preferred Guest - Hotel Offers and Loyalty Program spg.com site and make a quotation for 1 week in august on Sheraton Vistana Villages you pay US$1200 for a 2BR .

TimeSharing no more .

Ppina,
It can get even worse because I have stayed at Sheraton Vistana for $249 a week in a 2 bedroom in the new units thru RCI.
Since you don't live in the US, can you let this go into foreclosure?
Yes you'd lose your deposit but will it affect your credit rating in Portugal? That is the American way right now. Don't like the deal you made?
Just let it go in foreclosure and let the banks worry about it.
That way you can just buy a cheap timeshare in Portugal or Costa del Sol and join RCI and trade into Sheraton Vistana for the exchange fee.
Certainly alot less than what you are paying now.
I have friends who have done that with their Orlando timeshares and then purchased a cheap one on the resale market. Good luck to you.

[Steamboat Bill Banned Find all posts View Profile Close Steamboat Bill]

I Live in Portugal and I have 2 weeks on starwood vacation ownership

Sheraton Vistana Villages (US$19000 ) 2BR
The Westin ST. John Resort & Villas (US$40000) 1BR

For this year I pay US$2000 for USVI maintenance and US$1000 for Sheraton maintenance.If you dont pay you can lose all your investiment ; ONLY in the US!!!!

If you go the Starwood Preferred Guest - Hotel Offers and Loyalty Program spg.com site and make a quotation for 1 week in august on Sheraton Vistana Villages you pay US$1200 for a 2BR .

TimeSharing no more .

While I am sympathetic to your current pain, please don't BLAME the US for this because timeshares were first started in Europe.

Also, in most parts of the world, if you owe money for annual dues or maintenance on a property (timeshares are deeded real estate) and don't pay, it will be repossessed.

What happens in Portugal if you buy a home or car and stop paying the monthly note?

Timeshares were originally created in Europe in the 1960s by a ski resort developer (Hapimag) in the French Alps marketed his resort by encouraging guests to "stop renting a room" and instead "buy the hotel". Subsequent success followed, and the concept was quickly embraced by developers worldwide, boosting sales of surplus condominium units at a time when the resort industry was depressed.

Here is the link
Timeshare - Wikipedia, the free encyclopedia

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My advice would depend on how much you have spent and how much you still owe. If you still owe a ton of money, then simply foreclose. If they are 100% paid off, then try to sell them on eBay. If you are in the middle, then the best course of action is more difficult to advise.

Please post how much you own on each resort or if they are paid off.

[Ryne08 Senior Member Find all posts View Profile Close Ryne08]

Enjoy your t/s week yourself or rent it out to some fellow European coming to America or the Islands.

[jerrry94087 Senior Member Find all posts View Profile Close jerrry94087]

For this year I pay US$2000 for USVI maintenance and US$1000 for Sheraton maintenance.If you dont pay you can lose all your investiment ; ONLY in the US!!!!

You got ripped off, as most (all?) people who buy directly from the developer.
They are after your money and will tell you any lies to get into your pockets.
Any time you spend money like that you should do research first and know by heart what you are getting and what are available deals.

I went to maybe ~30 TS presentations and never bought anything from them. No matter how much pressure there is. Just using free stays/free airline tickets that they give in exchange for sitting in presentation.

TimeSharing no more .

Timeshare program can give you very nice and affordable if you know how to use it.

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

It's a sad state of affairs, isn't it?

Very sad indeed and some of these developers are getting more greedy by the day once they own you.

Would it not be possible for the OP to rent the condo out at the Westin St. John or try to make an exchange to another high-end timeshare resort in Europe or anywhere assuming it is paid off so not too much of a burden? If not, then it may not be worth hanging on to it but walking away from a debt will ruin your credit for quite a long time in this country. Is it the same in Europe?

Once the economy turns around again, the cheap rentals will no longer be offered so owning a timeshare in a hard to get place is a good idea, if you buy re-sale. Most people will have to find this out the hard way because of the way timeshares are sold.

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

If you dont pay you can lose all your investiment ; ONLY in the US!!!!

Um - No. If you fail to keep up payments on a purchase in most countries it will be taken back, and you can still be sued for any shortfall.

[James1975NY Junior Member Find all posts View Profile Close James1975NY]

I Live in Portugal and I have 2 weeks on starwood vacation ownership

Sheraton Vistana Villages (US$19000 ) 2BR
The Westin ST. John Resort & Villas (US$40000) 1BR

For this year I pay US$2000 for USVI maintenance and US$1000 for Sheraton maintenance.If you dont pay you can lose all your investiment ; ONLY in the US!!!!

If you go the Starwood Preferred Guest - Hotel Offers and Loyalty Program spg.com site and make a quotation for 1 week in august on Sheraton Vistana Villages you pay US$1200 for a 2BR .

TimeSharing no more .

Are you using the timeshare?