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  • California Trust

    We recently went to a presentation at the Sunterra Lake Tahoe Vacation Resort. We were given the opportunity to purchase points in the California Trust. I searched for that Trust on this forum and didn't find anything. My apologies if I am repeating well-known information.

    I had previously heard of the Florida Trust (which I think is also called the CSV-1 Trust) - but not the California Trust. We were told that there are 2 resorts in the California Trust: Lake Tahoe Vacation Resort and San Luis Bay Inn.

    The prices:
    10,500 points => $33,995
    5,500 points => $22,995
    3,500 points => $12,995

    Hopefully, this is of interest to somebody.

  • #2
    Originally posted by Columbia
    We recently went to a presentation at the Sunterra Lake Tahoe Vacation Resort. We were given the opportunity to purchase points in the California Trust. I searched for that Trust on this forum and didn't find anything. My apologies if I am repeating well-known information.

    I had previously heard of the Florida Trust (which I think is also called the CSV-1 Trust) - but not the California Trust. We were told that there are 2 resorts in the California Trust: Lake Tahoe Vacation Resort and San Luis Bay Inn.

    The prices:
    10,500 points => $33,995
    5,500 points => $22,995
    3,500 points => $12,995

    Hopefully, this is of interest to somebody.
    That's certainly NEW News, if true, as both resorts are listed as being in the Florida/CSV-1 Trust.
    ... not enough time for all the timeshares ®

    Comment


    • #3
      More about California Trust

      Yes, I thought it was strange when I got home and saw the resorts listed in the Florida trust also.

      I kept decent written notes during the presentation. We were told we were being offered deeded ownership in the California Trust, with 2 home properties. These we could reserve up to 13 months before, while we could reserve up to 10 months before at other properties. We were told that there were 105 properties in all of Sunterra.

      There was no mention of the Florida Trust.

      Comment


      • #4
        Originally posted by Columbia
        Yes, I thought it was strange when I got home and saw the resorts listed in the Florida trust also.

        I kept decent written notes during the presentation. We were told we were being offered deeded ownership in the California Trust, with 2 home properties. These we could reserve up to 13 months before, while we could reserve up to 10 months before at other properties. We were told that there were 105 properties in all of Sunterra.

        There was no mention of the Florida Trust.
        Well, you are not getting a deeded ownership. If, in fact, there is now a California Trust, the reservation scheme agrees with their other Trusts. The deed is held in Trust and all you get is a membership in that Trust represented by your number of points. This does two things for Sunterra --- makes it easy for them to foreclose and sell again as new when you don't pay your loan, no legal proceedings with the deed; gives the Trustee voting rights on a LARGE amount of inventory keeping Sunterra in control of the resort forever.

        The prices you quoted above are generally in line with other quotes for other Trusts. Lately, I've seen:

        CSV-1 @ Powhatan 10,000 SunOptions for $32,000 with "First Day Incentive" making it $30,000.

        CSV-1 @ St Maarten 10,000 SunOptions for about $28,000

        Hawaii Trust @ Kaanapali 10,000 SunOptions for about $40,000




        Did you happen to write down what the maintenance fees are for your California Trust??
        ... not enough time for all the timeshares ®

        Comment


        • #5
          Maintenance and other costs...

          Here are my notes on yearly costs:

          Total yearly cost: $1000, including:
          $151 (or perhaps $157, writing is a bit sloppy) club membership
          II membership for Sunterra property only
          Maintenance fees
          Taxes

          BTW, we did not purchase, though we like the Sunterra properties. We've traded in to a couple, and they have been quite nice. The sales staff and others at the Lake Tahoe property were all extremely nice.

          Comment


          • #6
            Originally posted by Columbia
            Here are my notes on yearly costs:

            Total yearly cost: $1000, including:
            $151 (or perhaps $157, writing is a bit sloppy) club membership
            II membership for Sunterra property only
            Maintenance fees
            Taxes

            BTW, we did not purchase, though we like the Sunterra properties. We've traded in to a couple, and they have been quite nice. The sales staff and others at the Lake Tahoe property were all extremely nice.
            Club is currently $151. So $849 is 8.5cents per point, higher than CSV-1/Florida Trust which is 7.3cents.
            ... not enough time for all the timeshares ®

            Comment


            • #7
              Maintenance Fees

              I apologize that I didn't clearly state that the $1000 figure was an approximate number. It probably isn't fair to carry out such a precise calculation of maintenance fees/point based on an approximate number.

              However, your calculations are still very interesting to me. It's hard to see why one would want to buy into the California Trust - if the opportunity to buy into the Florida Trust at the prices that you indicate is still available.

              Many thanks for your comments.

              Comment


              • #8
                CSV-1 Ebay

                I kind of like CSV-1 Ebay.

                Perhaps $2100 for 10,000 points including closing costs.

                Of course it still has to be added to Club Sunterra, but it could be batched with several other purchases and a conversion plus done for $2995 or maybe less with the purchase of additional points depending upon your bargaining power and who you catch on what day.

                Comment

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