So, is it a good time to buy a timeshare, or not?

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

I've read everything from "it's the best time to buy a timeshare," to " there will be blood." Honestly, I've been asked by a number of my friends if now is the time for them to purchase a timeshare, and I'm not really sure what to tell them.

I know that the prices are dropping, and that the ROFR is not being utilized by Marriott, as well as others. However, MF's may very well sky rocket, due to foreclosures, etc. Also, I'm not sure if the prices will nto continue to drop.

Has the market hit bottom? Should they buy, wait and see, or stay away? Any thoughts on this?

Is it a good time to buy a timeshare, or not?

Thanks!

[1950bing Senior Member Find all posts View Profile Close 1950bing]

Stay away

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

Ang,

I have been "bottom feeding" and finding units basically for free. Some even have paid 2009 MF and are clear of any special assessments.

Prices now are almost nil so you aren't going to do much better. As far as the maint fees etc, who knows? That is part of the risk of paying next to nothing that the original owner paid thousands for.

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

Great time to buy to use

I've read everything from "it's the best time to buy a timeshare," to " there will be blood." Honestly, I've been asked by a number of my friends if now is the time for them to purchase a timeshare, and I'm not really sure what to tell them.

I know that the prices are dropping, and that the ROFR is not being utilized by Marriott, as well as others. However, MF's may very well sky rocket, due to foreclosures, etc. Also, I'm not sure if the prices will nto continue to drop.

Has the market hit bottom? Should they buy, wait and see, or stay away? Any thoughts on this?

Is it a good time to buy a timeshare, or not?

Thanks!

If you want a resort or points based system to USE then this is a great time to be a buyer. You can almost purchase for nothing and only have the closing, annual fees as your cost. If you see the value in use you can't lose.

But if you are thinking it will make money, or that ROFR will somehow rise from the dead and bring value back to the underlying purchase it is a very big risk , although not impossible, and I'd not make that purchase recommendation.

Really nothing has changed except the original buy in price. Buy resale, never retail, buy what you want to use and be proactive as possible with your resort/system about holding down fees and you will most likely get great value out of your timeshare purchase. Even those that bought before the price collapse of the past year most likely still see good value if they followed those long touted "rules". But those buying today are even better off on the buy in side of the process.

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

For anyone who has the money to buy, this is a great time to get a TS. The upfront cost for a resale (often free or just a transfer fee) is minimal and will never get any better. But buyers need to be even more careful with selections, taking into consideration the cost of MFs, special assessments, how often it will be used, and even how far away it is (gas prices are sure to skyrocket again - it's just a matter of time).

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Great time- BUT DUE DILIGENCE IS NOW OF SUPREME IMPORTANCE and there should be a good look at the finances of the resort or resort group you are looking at purchasing. With Marriott sales down 40% in the last quarter, I'm not surprised that the ROFR isn't being notably used. Buying points or into a club is always a bit shaky, but now even more so. The buyer is definitely in the driver's seat. Thinks will get worse and more weeks will be entering the market, so there is no big rush.

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

Incredible opportunity for a buyer!

It's always the best strategy to buy when everyone else is selling! I've seen unbelievable opportunities for buyers...

Educate your friends to ensure they make sound purchase decisions based on what they will use- and turn them loose to make some acquisitions!

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

Just Purchased

I just purchased a ts at Wave Crest in Del Mar, CA. I was looking to buy one, however it was my father-in-law's who recently passed and it is such a beautiful location and facility that we had to keep it. We have a fixed week the last week of racing season and probably cannot make it out this year. What service/site would people recommend to outright rent the unit for this year, then perhaps sign up with RCI next year? Any help would be greatly appreciated.

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

Sorry for your loss. You may want to start a new thread in the area for California to get input from other similar owners on what marketing sites have been successful of late. You may also want to consider a classified on this site.

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

If one religiously uses his timeshare for vacations/travel (like alot of regulars of TS4Ms are, I assume), there is never a bad time to buy a TS, there is only such thing as a better or a worse time IMO. As mentioned above, if you buy resale, your entry point is good, and will breakeven after several uses and in return you have a lifetime of memorable trips. We just came back from a nice 4-day weekend getaway (2nd such holiday weekend getaway in as many months) - based on what the front desk was charging a couple coming in as we were leaving, we were happy we have our TS's and are simply pre-paying our vacations.

yes, if you pricelined your way to all your trips, you may (or may) not come out better, but w/ TS'ing, it's a way of life with some predictability of where you say and how the system works (and not work) to suite you so you can plan ahead.

GO for it...just take time to figure out which system to buy into. do lots of reading

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

Really nothing has changed except the original buy in price.

Absolutely not true! The risk of ownership has greatly increased. The maintenance fees that you, as an owner, will pay will be directly affected by the other owners at the TS property who either have their unit foreclosed or quit paying their MFs. In the current economy, the number of non-paying owners has a very good probability of increasing significantly. You could easily see your MFs double due to non-paying owners.

The upfront cost for a resale (often free or just a transfer fee) is minimal and will never get any better.

Not necessarily. Before this whole economy mess is over, I'm sure we will see people offering to pay others to take over their ownership. Heck, this happens w/ the PCCs today! When Ebay has the ability to start an auction out at negative dollars, look out.

With all that said, if someone is looking to buy to use, I would feel better pointing them to a large, name-brand system. I would think they would have the resources to ride out this downturn better than an older or single property TS. JMO.

Kurt

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

If you are buying to USE the specific resort/week on the deed I have to agree this is a buyer's bonanza.

If you are looking to trade/or adding points to existing accounts to exchange or rent I'm not sure. There are a lot of changes coming or have already come that make you wonder about the exposure and if paying nothing will get you just that. Nothing.

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

If you are buying to USE the specific resort/week on the deed I have to agree this is a buyer's bonanza.

If you are looking to trade/or adding points to existing accounts to exchange or rent I'm not sure. There are a lot of changes coming or have already come that make you wonder about the exposure and if paying nothing will get you just that. Nothing.

They are now thinking about buying a Marriott....They actually called me from a timeshare presentation at the Hilton, in NYC. lol

I told them to leave asap, buy nothing, and that we'd talk when they got back home. They are friends, and neighbors of mine.

I have other friends that had asked my opinion, as well. They know that I spend a lot of time on this forum, and II, and so they are asking for my advice.

The truth is that I'm hesitant to give it to them. I don't want to feel responsible if their MF's sky rocket.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

They are now thinking about buying a Marriott....They actually called me from a timeshare presentation at the Hilton, in NYC. LOL

I told them to leave asap, buy nothing, and that we'd talk when they got back home. They are friends, and neighbors of mine.

I have other friends that had asked my opinion, as well. They know that I spend a lot of time on this forum, and II, and so they are asking for my advice.

The truth is that I'm hesitant to give it to them. I don't want to feel responsible if their MF's sky rocket.

I think u r safe in advising to buy Marriott for 'first timers' - advise them only to buy a Platinum, lock-off unit and explain about reserving the best time in their season to trade.
They will not be disappointed with Marriott quality.
And the MFs while not cheap are certainly much less then what they would pay for a comparable hotel stay - you have to know your audience - and I think yours will be very satisfied with a Marriott resale purchase.

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

I think u r safe in advising to buy Marriott for 'first timers' - advise them only to buy a Platinum, lock-off unit and explain about reserving the best time in their season to trade.
They will not be disappointed with Marriott quality.
And the MFs while not cheap are certainly much less then what they would pay for a comparable hotel stay - you have to know your audience - and I think yours will be very satisfied with a Marriott resale purchase.

Thanks Pat, I agree.....That is pretty much what I will be suggesting to them. Also, I'd like them to purchase where they would like to visit, at least every other year, or so. They are avid golfers, so I was thinking HH, or even FL. They seem to travel to either the Ft Lauderdale, W. Palm Bch, or Miami area, each winter.