Sunterra - Avoid At All Costs!!!

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

Spence, I am sure at least 75% of resorts will take weeks back! How could I own at 7 different resorts that will take them back? Do you think we were just lucky 20 and 25 years ago when we bought those first two resorts in Colorado.

Yes.

There is a truth that younger adults, people in their twenties, are very curious about timeshare and would like an opportunity if we give it for free with the only stipulation that they pay maintenance fees. I know of at least ten of Kimeul's friends that are envious of his blue week.

I've got a white week I'll be glad to deed to any of them.

[I-DE-HO Senior Member Find all posts View Profile Close I-DE-HO]

There is a truth that younger adults, people in their twenties, are very curious about timeshare and would like an opportunity if we give it for free with the only stipulation that they pay maintenance fees. I know of at least ten of Kimeul's friends that are envious of his blue week.

"a truth..."? Not sure if there are any 'truths'.

Why don't you point Kimeul's friends to ebay t/s sales and they can all buy a bunch of weeks for a $1. You'd be a star!

Phil

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

I have to say that timeshare has been a bad word amongst my generation, for good reason. When we bought our first timeshare 25 years ago, we wanted to rescind but were told that we could not rescind because rescission laws at that time only covered sales made in your home. I have no idea if that was true or not, but it put a bad taste in my mouth, that is for sure.

Now we have a younger generation that is responsive to the concept but cannot afford to buy a Marriott or the like, so there would definitely be a market for cheap timeshares. Kimeul is not the only one interested, believe me, I have talked to his friends at the restaurant where he works part time and have also talked to young firefighters at Rick's firehouse. If they knew what was out there, they would buy. Ebay seems risky to young people, plus the closing costs are exorbitant.

This entire conversation on this thread and a similar one on TUG has me thinking about our resort and its 50 green weeks in inventory right now. I have some ideas about marketing to this young generation of future travelers.

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

Spence, where is it and what are the MF's? I know I can get rid of it for you, if the fees are low enough.

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

Why most HOA's take deedbacks

The alternative to a deedback, in many instances, is the HOA ultimately having to foreclose, at their expense. On the OBX, foreclosures typically cost the HOA $500 a pop. In some places they are much more expensive than that. In addition, some resorts let a week be in arrears two or more years before foreclosing, meaning more lost revenue. It just makes economic sense to get the week back as a deedback, where the member pays the cost, and there is no period in limbo before the week is back in the resale inventory.

It is no mystery why the OBX resort that is most reluctant to take deedbacks is also the resort with the biggest backlog of non-performing weeks and one of the highest m/f's with low reserves. Those that readily take deedbacks are way ahead of the game.

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

This entire conversation on this thread and a similar one on TUG has me thinking about our resort and its 50 green weeks in inventory right now.

Cindy,

Why don't you do something like MShatty did for Sandra Cooper at Inverness at Walden to get rid of their weeks? Do up a 1 pager hard copy for distribution or find a website like Craigs list or do up the $1 ad on Red Week on behalf of the HOA?

sorry if this takes this thread further off topic

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

Those are great ideas. I can see Craig's List as a likely way of getting rid of timeshare weeks that are sitting there right now.

Our resort can close them for $75 or even less for the green weeks.

Our resort is lucky in that we have very few weeks that are actually off season. With skiing five months of the year and summer three months, there is not much in between.

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

I should add that Kimeul's friends and some of the firefighters we have talked with about timeshare are impressed by the low cost of our vacations, since our maintenance fees are $416-$505 for our red weeks. Of course, now Foxrun is at $595, I believe, which is higher than I like.

These units could be great alternatives to renting hotel rooms for them, which is how they look at the cost. Vegas has become a fairly easy trade, but I don't know if it is impossible to get with a green or blue week, unless at the last minute, but trips to Vegas are usually not planned long in advance when you get a hotel room anyway.

Hawaii is another thing altogether. It really takes some planning, but our trip after 2007 will be all done at the last minute, for cheap points, too.