Disgruntled BlueGreen Owner

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Look I don’t have a problem with paying maintenance.
But I don’t own the whole resort so why do I feel I am paying for all of it.
Why cant BG shut ,mothball, whatever, excess property and put things back in to balance ?.
Removing the over supply would benefit all.
Sure it would probably mean laying some staff off but that happens in a downturn.
Seems at the moment the answer is lets just screw the owners who are paying and carry on regardless.

Probably because if they moth ball those units, then the remaining owners would have to cover the same costs. Sames costs, fewer owners => higher costs per owner. You need to reduce costs, not how many owners the costs are spread across.

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

I still own a week 2bdrm Villa at Chirstmas Mt. Villas in the WI Dells, and I find it mystifying that I can rent it through RCI for less than $300/wk, but as an owner I'd have to pay around $450/wk on bonus time and I paid $584 MF plus an assessment this year for my one week!

Bluegreen's not in control of what RCI charges, and Last Call rates are not typical. I'm sure CMV has lost trading power over the years because there are so many newer resorts in Wisconsin Dells, plus there are the UDI ownerships where people get to use more than one week a year, meaning their cost-per-week can be considerably less than $200 (last I checked), so they can rent a week out for $300 and make a fair profit. And of course a lot of them don't bother with renting; they just trade their "extra" weeks into RCI, especially now they can consolidate the points. Bluegreen tried to buy out all the UDI ownerships (which predated BG's purchase of CMV), but didn't succeed.

how much of a loan do you need to get a free timeshare on e-bay or from whomever is trying to get rid of them and only pay the transfer of title fee? $300?

You generally can't get a loan to buy TSs resale, which as I said keeps the prices low; not sure what your question there means?

Removing the over supply would benefit all.

I'm confused. What over supply are you talking about? According to the last annual report, over 90% of BG units are either being used or repaired, and in my experience that probably means all of them are used on weekends nearly year round; they're most empty on weekdays off season (excluding the Las Vegas one, which apparently doesn't do well). You can't mothball a unit that's in use every week. I'm sure they don't have AC or water running in the unused units so I'm not sure what else they could shut down.

What's primarily driving the yearly fees up, I'm guessing, is people who aren't paying their maintenance fees. Historically, Bluegreen has had a delinquency rate of 6%. Right now, it's 11%. That extra 5% is pushing up the fees for people who actually pay them. Bluegreen is also doing some major renovations, with the philosophy of buying the best now to save money later (for a somewhat dated example, smooth top ranges are more expensive upfront, but save a lot in cleaning time over the years and thus are cheaper in the long run).

Historically, BG has been well managed, and currently they're doing better than some of the competition. Whether that will continue to be the case, only time will tell.

[stevec Member Find all posts View Profile Close stevec]

The over supply is too many holidays not enough buyers.
Time share is holidays right ? Its nothing special or exclusive although the lying TS sales team would say otherwise.
But most here are smart enough to know better.
Hardly anyone has fixed weeks right ?
The great deal we get is we can book early what if we all had the same status ?
Maybe even that’s a lie how do we know ?
I have been at the Fountains and seem to have been the only owner, ok out of the people I spoke too.
BG has another resort down the road from the Fountains the Florida Sunshine Club its not a patch on the Fountains I have stayed there.
I would shut it temporarily removing some of the over supply.
Can someone show me what BG has done for me to keep my maintenance fees down.
Giving non owners better deals only makes other people less likely to buy and the Fountains has always been available to non owners(but not at knock down prices).
As I said take some of the slack out of the system till things pick up.
Maybe shareholders like to see expansion and growth but sometimes a step back is more helpful.

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

The over supply is too many holidays not enough buyers.
Time share is holidays right ? Its nothing special or exclusive although the lying TS sales team would say otherwise.
But most here are smart enough to know better.
Hardly anyone has fixed weeks right ?
The great deal we get is we can book early what if we all had the same status ?
Maybe even that’s a lie how do we know ?
I have been at the Fountains and seem to have been the only owner, ok out of the people I spoke too.
BG has another resort down the road from the Fountains the Florida Sunshine Club its not a patch on the Fountains I have stayed there.
I would shut it temporarily removing some of the over supply.
Can someone show me what BG has done for me to keep my maintenance fees down.
Giving non owners better deals only makes other people less likely to buy and the Fountains has always been available to non owners(but not at knock down prices).
As I said take some of the slack out of the system till things pick up.
Maybe shareholders like to see expansion and growth but sometimes a step back is more helpful.

Giving non owners better deals only makes other people less likely to buy and the Fountains has always been available to non owners(but not at knock down prices).

Interesting, as through RCI I see the Fountains listed alot for a 2 bdrm for $284/wk!I was just checking some Last calls and Extra Vacations as I'm thinking maybe sometime this winter picking up a few weeks for under $600 around Orlando!

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

Bluegreen's not in control of what RCI charges, and Last Call rates are not typical. I'm sure CMV has lost trading power over the years because there are so many newer resorts in Wisconsin Dells, plus there are the UDI ownerships where people get to use more than one week a year, meaning their cost-per-week can be considerably less than $200 (last I checked), so they can rent a week out for $300 and make a fair profit. And of course a lot of them don't bother with renting; they just trade their "extra" weeks into RCI, especially now they can consolidate the points. Bluegreen tried to buy out all the UDI ownerships (which predated BG's purchase of CMV), but didn't succeed.



You generally can't get a loan to buy TSs resale, which as I said keeps the prices low; not sure what your question there means?
vacations for under $300/wk!



I'm confused. What over supply are you talking about? According to the last annual report, over 90% of BG units are either being used or repaired, and in my experience that probably means all of them are used on weekends nearly year round; they're most empty on weekdays off season (excluding the Las Vegas one, which apparently doesn't do well). You can't mothball a unit that's in use every week. I'm sure they don't have AC or water running in the unused units so I'm not sure what else they could shut down.

What's primarily driving the yearly fees up, I'm guessing, is people who aren't paying their maintenance fees. Historically, Bluegreen has had a delinquency rate of 6%. Right now, it's 11%. That extra 5% is pushing up the fees for people who actually pay them. Bluegreen is also doing some major renovations, with the philosophy of buying the best now to save money later (for a somewhat dated example, smooth top ranges are more expensive upfront, but save a lot in cleaning time over the years and thus are cheaper in the long run).

Historically, BG has been well managed, and currently they're doing better than some of the competition. Whether that will continue to be the case, only time will tell.

You generally can't get a loan to buy TSs resale, which as I said keeps the prices low; not sure what your question there means?

I'm saying that you can pick up free wks that Hundreds or more people are trying to unload for A $300 Transfer fee! Want 4 wks, pay $1200. Why would one pay any more? Who needs a loan at these prices? I am more than willing to let my 2 BDRM Villa go that I pay $584 MF plus assessments on for free and use that to get two weeks from RCI anyplace(or even mine back) through a rental.

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

This year, they changed the rules again (but didn't take anything away from people who bought the points before their deadline), so now the best deal you can get from their resale company is the same price for points as the best deal you can get from the developer. Which they felt is fairer to the people who bought full price and to the BG salespeople.

Can you elaborate on this? I was under the impression that as long as you purchased from an authorized resale agent you could get all the benefits. Am I wrong?

RW

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Can you elaborate on this? I was under the impression that as long as you purchased from an authorized resale agent you could get all the benefits. Am I wrong?

RW

It used to be that way. Now there are other restrictions. If you are interested in learning the details, send me a private message.

[stevec Member Find all posts View Profile Close stevec]

It used to be that way. Now there are other restrictions. If you are interested in learning the details, send me a private message.

Is it some big secret ?

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

Not a secret, but it has been covered so many times it may be just easier to explain it one to one.

The (very) short answer to this is that the points must be purchased over a certain amount per point. I believe it is $1.25 per point. If purchased from an authorized reseller for this price, the bennies should also transfer. So you can still buy from ebay for 50 cents a point (as an example) but you will not get any of the bennies (VIP, premier level, etc).

There may be additional restrictions that I don't know where Boca does as he deals with this on an ongoing basis.