I just got a call from a Marriott salesperson......

[riverdees05 Platinum Contributor Find all posts View Profile Close riverdees05]

Just think how great we will feel if we are ever able to exchange into one of those units

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

Just think how great we will feel if we are ever able to exchange into one of those units

And, you know that we will.

[Beaglemom3 Senior Member Find all posts View Profile Close Beaglemom3]

Tell her that you'll consider it if they'll let you visit Mayfair London for a free three day trial. Go ahead. I double-dog dare you. The very least she could say is, "no".
Nothing ventured...............

[bsheets326 Member Find all posts View Profile Close bsheets326]

The advantage of buying a condo in that area is that it will most likely appreciate in value over time. I'm almost positive that the TS will we worth a lot less than $90,000 in five years.
Brent

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

I told her that even if the timeshare was is Heaven, I wasn't paying $90,000.

Absolutely priceless.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

The advantage of buying a condo in that area is that it will most likely appreciate in value over time. I'm almost positive that the TS will we worth a lot less than $90,000 in five years.
Brent

This is a very true statement. Even if the real estate bubble were to burst, true real estate will continue to appreciate in value unless there is a total collapse of our economy as we know it.

The more I think about this, the more I'm amazed at the sky rocketing cost of developer pricing. 9 years ago we purchased a 2 bedroom LO unit from the developer for $18,900. The next year we purchased a pre-construction 2 bedroom LO unit from the same developer for $14,900. Now similar units with worse locations are selling for $30,000+.

Of course we'll never realize that inflation with the units we've already purchased. On the resale market they're worth MAYBE $4,000 combined and probably more like $1,500 to $2,000. It still doesn't keep the TS weasels from pointing out the increase in developer pricing and making you THINK that you'll see the same appreciation as an owner.

$90,000 for a one week TS on Marco Island. I just can't get over this price and the fact that they can actually FIND people to pay it. All I can think of is I'm in the wrong business.

[2hokies Junior Member Find all posts View Profile Close 2hokies]

Who has that kind of money?? I guess I don't travel in those circles. Is Marco Island that terrific?

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

Marco Island is (JMHO) a place that folks like to name drop...it has a long beach, and is loaded with affluent residents, and yes, some of them even live away from the beach, but they still have canals and paid a million for a home. It is an island, so it is bound by its geography, which gives folks a feeling that it is exclusive...hence, prime property. I guess when people pay $90,000 for something, it becomes a badge of honor to some....I don't get it. I sometimes wonder where we are heading as consumers...is it all about the "label?"

The thing is that the island is rather small, and so no one is truly too far away from the beach or water....so why pay such an amount?

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

I am still wondering what a comparable beachfront condo on Marco goes for. Does anyone know?

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

I am still wondering what a comparable beachfront condo on Marco goes for. Does anyone know?

If you're really that interested, try google.

A quick search showed me prices on the island from $728,000 to $11,990,000. Most that I glanced at were at least 3 bedroom condo's. I didn't look to hard to see which were gulf front on the beach and which were center island but, I'd assume that those whose prices were in the millions and not hundreds of thousands were located on the beach.

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

If you're really that interested, try google.

A quick search showed me prices on the island from $728,000 to $11,990,000. Most that I glanced at were at least 3 bedroom condo's. I didn't look to hard to see which were gulf front on the beach and which were center island but, I'd assume that those whose prices were in the millions and not hundreds of thousands were located on the beach.

I was hoping that someone who had some knowledge about the local market might chime in, as 728k to 11.99m is a pretty wide range! Without a real knowledge of the market, location, general quality level of the various projects, amenities, unit sizes, views, etc, it would be difficult to determine proper comparables. While I am interested (more idle curiosity than anything else), I guess I'm not THAT interested. So, if anyone knows, great, if not, no problem!

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

Most are in the $2,000,000 to $5,000,000 range and are 3 to 5 bedrooms. This is approximately what I was seeing on Singer Island on the Atlantic side (just north of Palm Beach Island). A new developement studio on Singer Island, beach front but inland view, was going for $1,400,000.

I suppose a lot of people will figure out that it's less expensive to buy timeshare weeks for their winter home rather than buy a winter home. By doing this they only purchase what they need to use, can have Marriott rent it out for them if they don't end up using it, don't have to worry about insurance, don't have to worry about furnishing it et.....

For those that can afford $2,000,000 for a winter home, $60,000 to $90,000 X 10 to 26 weeks might not seem that high. It will create a problem for owners of 1 or 2 weeks to get a prime location unit, much like it's done at Marriott's Ocean Pointe on Singer Island.

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

I suppose a lot of people will figure out that it's less expensive to buy timeshare weeks for their winter home rather than buy a winter home. By doing this they only purchase what they need to use, can have Marriott rent it out for them if they don't end up using it, don't have to worry about insurance, don't have to worry about furnishing it et.....

Thanks, that is what I was curious about. I have done this at Mountainside (though only for 4 weeks) in lieu of purchasing a condo in Park City, and was just wondering whether the prices on Marco could support the same sort of strategy. Sounds like the answer could be "maybe", though resale might be the way to go, eventually, since the current numbers dont seem to reflect much of a discount off of whole ownershiph, unlike at Mountianside, where that is very mucht he case. Personally I am not interested in doing this at Marco, but was curious as to how the economics might look.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

Thanks, that is what I was curious about. I have done this at Mountainside (though only for 4 weeks) in lieu of purchasing a condo in Park City, and was just wondering whether the prices on Marco could support the same sort of strategy. Sounds like the answer could be "maybe", though resale might be the way to go, eventually, since the current numbers dont seem to reflect much of a discount off of whole ownershiph, unlike at Mountianside, where that is very mucht he case. Personally I am not interested in doing this at Marco, but was curious as to how the economics might look.

I think Marriott has caught on to this plan and they've closed the gap economically speaking by charging what would be essentially quarter share prices if one was to purchase 13 weeks. $60,000 for one week is just to expensive to really consider unless I just had money to throw away and let's face it, if you make enough money and have enough time for a "winter" home in FL, you probably have the funds and the time and STILL think you're getting a bargain. I've just never realized that amount of financial freedom and never will unless I get out of the line of work I'm in right now (bedside intensive care nursing).

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

I think Marriott has caught on to this plan and they've closed the gap economically speaking by charging what would be essentially quarter share prices if one was to purchase 13 weeks. $60,000 for one week is just to expensive to really consider unless I just had money to throw away and let's face it, if you make enough money and have enough time for a "winter" home in FL, you probably have the funds and the time and STILL think you're getting a bargain. I've just never realized that amount of financial freedom and never will unless I get out of the line of work I'm in right now (bedside intensive care nursing).

Yes, I agree those prices are too high to make the "second home" strategy workable there. In contrst, at Mountainside, for example, if I were so inclined, I could purchase 10 ski weeks for a little over 300k. While that is not 100% of the ski season, it covers most of it, and is enough to cover all of the "prime" season - maybe I'd need to pay a bit more to get a fixed president's week, as well. But, in any event, comparable ski in/ ski out condos would likely go for 1.2m and up. So, for about 1/4 of that cost, I could essentially own the ski season, which is the only time I'd likely use the unit anyway, even if I owned that comparable condo. Its a pretty attractive alternative to a second home, in my opinion, especially in a highly seasonal destination such as Park City. And, while the MFs would be significant, they'd cover all utilities, insurance, maintenance, condo assoc fees, real estate taxes, furnishings, etc, and there would be no need to engage a property management firm to look after the property, especially in the off season.