Value of a blended CMV UDI

[brucecz Moderator Find all posts View Profile Close brucecz]

Tom, last year I paid two maintenance fees. One was before it was transferred into my name so I could book a 4th of July Deluxe Timbers to rent out before it was transferred into our name. So last year I was able to book two Bluegreen 4th of July 2006 Deluxe Timbers and they both are rented out.

Supposely I was told this year I should just have to pay just one maintenance fee.

I should also have Bluegreen pay for a new RCI weeks account for each Club dues I have to pay so it would us get around the RCI 1 in 4 rule.

Bruce

Yes, you do pay for one housekeeping fee along with your yearly BG vacation club membership. Bruce, with multiple blended UDIs do you still only pay one housekeeping fee for the combined points, or one housekeeping fee for each Blended UDI?

[brucecz Moderator Find all posts View Profile Close brucecz]

Steve, when I talked to the seller he indicated that the maintenance fee was for the 2006-2007 maintance fee year, not the 2005-2006 year.

But you can get another 3 red weeks with your Pure UDI plus white and weeks with are vauleable if you know what to do.

Even on that ebay Blended CMV Cottage UDI in camparison you would IMHO have to have 5 or more 9,000 Bluegreen Points weeks to come close to the trading power ect of even one Blended UDI.

Those 45,000 Bluegreen Points at 40 cents per Bluegreen would cost $18,000 plus several closing costs compared to only one closing cost for 1 UDI. So IMHO getting that ebay Blended CMV Cottage UDI for under $3,500 is a excellant value.

Bluegreen resale Points are a very good value when compared to almost all other ownerships, but IMHO they do not come closeto a CMV UDI.

You are on the same side as I am but the blended UDI can offer excellant value.

Bruce

As part of my decision process, I asked which I'd rather have: the blended UDI on eBay for $3,500 (that was my ceiling on the bid that I might have entered), or a pure UDI for $2,500.

So, I asked what the value of the Red Week was, and realized that I deposited my red week this year with HTSE and will be going to Kauai next year for that red week...in other words, a 2BR in Hawaii for 43,500 RCI points. I thought that was a good deal, and I can do it every year, or trade through DAE, Timex, etc. So I came down on the Pure UDI side of the fence.

My closing costs on the pure UDI are lower, too (I'm not paying the full 2005/2006 MF).

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[brucecz Moderator Find all posts View Profile Close brucecz]

Boca, you made a very good point below. But if we made each CMV Cottage week a white worth 8,000 BLuegreen Points at the resale price 40 cents per point then each Cottage unit would be worth $3,200 x 50 weeks =$160,000 which is over 3 times the buying cost per week.

So if we use the ave $3,200 cost per 8,000 Bluegreen Point week and multiply that $3,200 x 3 to equal ONLY 3 weeks of yearly CMV Cottage UDI usage, then those ONLY 3 weeks of usage should be comparably worth $9,600 in comparison.

Then if I can get at least 8 yearly weeks out a Blended Cottage or at least 10 yearly weeks out of a pure Timbers what are they worth in comparison to Bluegreen Points? 8 weeks x $3,200 or 10 weeks x $3,200? What value would you add on for a CMV OAK Timbers UDI with free golfing and ski lift passes?

Bruce

Tom,

$3000 is not impressive for a UDI. That's because there are only 17 deeds per unit. That makes the whole condo equivalent only $51,000.

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

Those 45,000 Bluegreen Points at 40 cents per Bluegreen would cost $18,000 plus several closing costs compared to only one closing cost for 1 UDI. So IMHO getting that ebay Blended CMV Cottage UDI for under $3,500 is a excellant value.

I agree; I'll rephrase my point to be: I think the blended UDI at $3,500 was a great value. I think a pure UDI at $2,500 is better, and I had to choose between them.

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

Boca, you made a very good point below. But if we made each CMV Cottage week a white worth 8,000 BLuegreen Points at the resale price 40 cents per point then each Cottage unit would be worth $3,200 x 50 weeks =$160,000 which is over 3 times the buying cost per week.

So if we use the ave $3,200 cost per 8,000 Bluegreen Point week and multiply that $3,200 x 3 to equal ONLY 3 weeks of yearly CMV Cottage UDI usage, then those ONLY 3 weeks of usage should be comparably worth $9,600 in comparison.

Then if I can get at least 8 yearly weeks out a Blended Cottage or at least 10 yearly weeks out of a pure Timbers what are they worth in comparison to Bluegreen Points? 8 weeks x $3,200 or 10 weeks x $3,200? What value would you add on for a CMV OAK Timbers UDI with free golfing and ski lift passes?

Bruce

It's not quite that simple, though. The 8,000 point-weeks can all be booked in the distant future (e.g., 10 months out), which allows them to have higher trade value, greater potential for renting, and more stable planning (I omit the higher PFD value they have with RCI points, because I don't think that's an economical use of BG points).

I agree with your floor of $9,600 if the white weeks were equivalent to 8,000 points in all circumstances. However, white weeks at CMV cannot be directly swapped for weeks at other BG resorts. Yes, one can (as you and I both do) turn those weeks into RCI points, and then into weeks elsewhere, but that is no advantage over what could be done with the BG points. That means the floor value is somewhat below $9,600.

Of course, for those who have the ability to use the UDI weeks either for visits or for PFD, the value is higher.

Now, all that said, it doesn't matter what sticker price we put on a UDI week. What matters is how the market values them. (Un)fortunately, we have very few perfect situations, where all parties are aware of the value of a UDI week, so I think they sell at a discount to their true value...or at least until you buy so many that you corner the market

Regards,

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[brucecz Moderator Find all posts View Profile Close brucecz]

With the Pure UDI your Red week is not restricted to 90 days like your 3rd Blended UDI week is after you have booked your BG Points week and your choice of 2 white or blue weeks.

To keep it simple on a Blended UDI, once your yearly BG Points are used up you can have 3 and only 3 UDI reservations on the books at the same time with one reservation only being allowed to be reserved 90 days or less before its check in date.


On the pure you are allowed 1 red reservation and 2 white or Blue reservations on the books at anyone time. None of these 3 weeks are restricted to being reserved 90 days or less out like one of the Blended UDI's weeks are.

Then on the pure UDI if you have 3 UDI weeks on the books at the same time then you can put a 4th reservation on the books. The restriction is that the 4th week can only be booked 45 days or less before its check in date, but it can be of any color.


IMHO that 4th reservation can be very valueable as in this example.
If that 4th week is a red week you could bank it with RCI Points and get 50% of 43,500 RCI points or 21,750 RCI Points for the $48 UDI housekeeping fee and the $26 RCI deposit fee per week deposited.

3 weeks like that would total 65,250 RCI Points and costs totaling $74 x 3= $222. Now ad $49 for RCI Points Partners to process your airplane ticket making your total cost $271 for RT airfare to our Virgin Islands resort from Chicago using 65,000 RCI Points flying like I just did this past week 11.

In fact seeing my RCI Points used to fly RT to St Croix were from 2005 my cost for those 65,000 Points was $78 less for a total of only $193.

I saved about $400 to $500 on airfare and the neat thing is unlike rental profits you do not have to pay on airfare savings. How much do you have to gross in pay on your job to net $400 or $500 after paying taxes?

Now once the check in date for any of the UDI resevations on the books arrive you can then reserve another week in its place but do not pay the housekeeping fees at that time. Why not? So in case you decide to cancel it at no charge to book a differant reservation in its place then you do not have to worry about your account being properly credited.

Pay the housekeeping fees only when you decide to use the week for staying at the resort, renting or banking the week for exchange.

The above are a few of the reasons why I perfer the CMV UDI over any and all other ownerships. I perfer the Pure over the Blended but my UDI friends have thought me to value the strenghts of the Blended CMV UDI's.

Bruce

Thanks for the clarification Tom.

So it appears that the differences are:

1) 9000 or 12000 points vs. a rebookable Red week.

2) 90-days vs. 45-days for your 4th reservation

3) white weeks must be reserved 11 months in advance of check in vs. 12 months.

4) Bluegreen membership fee vs. none.

Do you need to pay a housekeeping fee for your point reservation? I think Bruce mentioned that he had to pay one.

[brucecz Moderator Find all posts View Profile Close brucecz]

Steve, IMHO I disagree.

If you have one Pure Cottage UDI and use it properly you can cover the years maintenance fees with rentals leaving enough weeks to get at least 225,000 yearly RCI Points. It would take 5 red 9,000 BG Point CMV Red weeks at 43,500 RCI per week x 5 weeks to net you only 217,500 RCI Points.

The cost of five 9,000 weeks at 40 cent per BG point on 45,000 BG Points would be 18,000 compared to the cost of only one pure CMV UDI.

The maintenance fees for those 45,000 BG points would be how much compared to the CMV UDI's maintenance fees being covered by rentals. We would have about ten $48 housekeeping fees or $480. IMHO the advantage strongly in favor of CMV UDI's.

In regards to choices available in only having Bluegreens about 40 resort to choose from compared to RCI's weeks and points and II at over 4,000 resorts again IMHO the CMV UDI's prevail.

Sorry I do not want to limit my choices to only about 1 % of the timeshare resorts which is abut what Bluegreens share of the number of timeshare resorts is.

We stayed in a Marriot last year and I see Disneys Old Towns, Vero Beach etc with a CMV Wekk 52 banked that was only banked about 2 months before its check in time.

You are correct in that it is not that simple. If you note that in my rental ads on Red week, etc most of my higher dollar summer CMV weeks are gone, both the UDI weeks and BG Point weeks.

Over the last 5 years our CMV rental history seems to prove that we per CMV UDI ownership we must had had enough time to advertise as we have rented out over one summer week per CMV UDI ownership.

So if 9,000 RCI Points can only get you one summer CMV week it would appear that the single CMV UDI ownership has a big all year round rental income advantage over a 9,000 BG Point week that can only be rented out only once a year. The buying cost and maintenance fees put that 9,000 Pt BG at a large disadvantage when everything is considered.

Good night Steve.

Bruce

It's not quite that simple, though. The 8,000 point-weeks can all be booked in the distant future (e.g., 10 months out), which allows them to have higher trade value, greater potential for renting, and more stable planning (I omit the higher PFD value they have with RCI points, because I don't think that's an economical use of BG points).

I agree with your floor of $9,600 if the white weeks were equivalent to 8,000 points in all circumstances. However, white weeks at CMV cannot be directly swapped for weeks at other BG resorts. Yes, one can (as you and I both do) turn those weeks into RCI points, and then into weeks elsewhere, but that is no advantage over what could be done with the BG points. That means the floor value is somewhat below $9,600.

Of course, for those who have the ability to use the UDI weeks either for visits or for PFD, the value is higher.

Now, all that said, it doesn't matter what sticker price we put on a UDI week. What matters is how the market values them. (Un)fortunately, we have very few perfect situations, where all parties are aware of the value of a UDI week, so I think they sell at a discount to their true value...or at least until you buy so many that you corner the market

Regards,

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

Just thought I'd chime in here, since we're in the process of obtaining the blended week being discussed. Our main goal was to purchase 9000 pts to bring us up to the silver level (provided they don't change the points requirement before the closing goes through.) However, I've wanted a UDI for a number of years, and this time my husband agreed, provided it wouldn't cost more than what we were willing to pay for the points.

So, thanks for all the tips, and especially to Bruce for all his great information! I'm looking forward to seeing what we can do with this.

[brucecz Moderator Find all posts View Profile Close brucecz]

Cindy, I am gald that someone that I think is from Wisconsin outbid me , congrats to you and yours again. If I remember correctly you live within 50 miles of the resort? Or did I make a mistake. I look foward to talking to you and yours.

As per my emails to you and yours. I will explain here for the others why I think you were fortunate to get it for the price you did especially when more people realize how these CMV UDI's can be used for lower cost RCI points.

Some very experianced timesharers who have an interest in picking up CMV UDI's said they did not reconzine it as a Blended CMV UDI because of the way that the ad was written. They thought it was just a 9,000 Point Bluegreen ownership that was not a UDI. If I remember there was no mention that it was a UDI. The only hint was the maintenance fee and that total MF was not stated correctly for last year or this year of 2006-2007which is now $693.98 for a pure CMV UDI Cottage and $748 for a Pure CMV UDI Oak Timbers.

A few others told me that once they saw the over $1,200 maintenace fee figure mistakenly posted then they did not come back to check on that auction because of the first incorrectly MF's payment posted at over $1,200. They did not come back and see the correction posted at the bottom of the ad.

If the seller would have made a more accurate and more factual ad IMHO it would have sold for more.

If I ever deside to list any of our UDI's on on ebay I would certainly explain the UDI in more factual detail and explain its many FAB. Maybe Boca could help me set up a great CMV UDI ebay ad? How about it Boca?

Oh by the way I am thinking about having a CMV UDI open house in the near future. What do you guys think of that idea?

But congrats again for getting a good buy on a great ownership

Bruce

Just thought I'd chime in here, since we're in the process of obtaining the blended week being discussed. Our main goal was to purchase 9000 pts to bring us up to the silver level (provided they don't change the points requirement before the closing goes through.) However, I've wanted a UDI for a number of years, and this time my husband agreed, provided it wouldn't cost more than what we were willing to pay for the points.

So, thanks for all the tips, and especially to Bruce for all his great information! I'm looking forward to seeing what we can do with this.

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

Just thought I'd chime in here, since we're in the process of obtaining the blended week being discussed. Our main goal was to purchase 9000 pts to bring us up to the silver level (provided they don't change the points requirement before the closing goes through.) However, I've wanted a UDI for a number of years, and this time my husband agreed, provided it wouldn't cost more than what we were willing to pay for the points.

So, thanks for all the tips, and especially to Bruce for all his great information! I'm looking forward to seeing what we can do with this.

Congrats. I think you got a good deal. I am glad that someone on these boards got it.

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

If I ever deside to list any of our UDI's on on ebay I would certainly explain the UDI in more factual detail and explain its many FAB. Maybe Boca could help me set up a great CMV UDI ebay ad? How about it Boca?

Oh by the way I am thinking about having a CMV UDI open house in the near future. What do you guys think of that idea?

But congrats again for getting a good buy on a great ownership

Bruce

Bruce,

I'd be glad to help you with an eBay ad. My fee is a pure Oak Timbers UDI.

[brucecz Moderator Find all posts View Profile Close brucecz]

Bruce,

I'd be glad to help you with an eBay ad. My fee is a pure Oak Timbers UDI.

Youare much to kind you !@#$(*(&%^@#$&^&&_))_(*&$#$#%^#!@%^

Instead how about taking one my grandchildren for your ebay help?

After all they can make more grandchildren but they are not making any more CMV UDI "Pure' Oak Timber ownerships.

Bruce

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

Youare much to kind you !@#$(*(&%^@#$&^&&_))_(*&$#$#%^#!@%^

Instead how about taking one my grandchildren for your help?

After all they can make more grandchildren but they are not making any more CMV UDI "Pure' Oak Timber ownerships.

Bruce

That's true, but your Oak Timbers UDIs have a zero cost basis. If you gave it to me, you wouldn't have to pay taxes on the sale.

[brucecz Moderator Find all posts View Profile Close brucecz]

That's true, but your Oak Timbers UDIs have a zero cost basis. If you gave it to me, you wouldn't have to pay taxes on the sale.

cz

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

So, as my wife is signing the purchase contract for the pure Cottage CMV UDI today, she says, "Oh, and Janice says if you see another one of these, tell her so she can buy it."

At which point I choked. The wife and her good friend (Janice) were down in NYC for the weekend. I came within a hair of calling them to ask if I should bid on the blended UDI for our friends (or sell them one of our pure and we take the blended), but didn't.

AAAAAARRRRRGGGHHHHHH!!!!

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