Bought from developer: Wyndham Ocenside -- need help

[cal5215 Junior Member Find all posts View Profile Close cal5215]

Hi,

I am a newbie. We bought biennial 239,000 points at Wyndham Oceanside for $18,000 and have the option of rescinding for a few days still.
I have read previous posts and am aware that almost everyone here thinks it is a mistake to buy from the developer.
I know that this timeshare will sell for peanuts if I ever decide to sell. This resort feels special to us for the following reasons:
1. We live in Orange County and this resort is one hour drive from home. That means cheap, convenient access.
2. Most importantly the resort is Oceanfront -- literally across the street from the beach. I get a big kick out of being able to listen to the thunder of crashing waves and being able to smell the fine mist from the waves blowing on to the balcony. Thus, we did not buy this for trading into another property or location. This location felt very special and is ultra convenient for us (husband, wife and 2 young kids 2 and 6.

Why not buy a resale?
1. I have browsed eBay and know that you can get Fairfield points for much less than the price I paid. However, we are not interested in just the points, we want to stay at THIS resort. If I buy points at some other (not as desirable home resort) then it may be more of a hassle to book a stay at this resort (or not available at peak times).
2. I noticed that there are NO california oceanfront properties (high quality) for sale on eBay. Ocean view or "a few blocks" from the beach is not the same thing as oceanfront to me.
3. The closest I can find is Marriott Newport Coast Villas that are not oceanfront but close to beach with views. These are selling for around $8K on eBay.
4. I know what I paid is expensive, but it does not seem that I can get Oceanfront on the cheap on eBay so I am considering staying with my high-priced purchase.

Am I missing something? Any help will be appreciated.

Thank you.
Cal5215

[aliikai2 Super Moderator Find all posts View Profile Close aliikai2]

Other than the 13 month arp program

All FF Wyndham points are equal.

In other words, you aren't trading another resort for the CA week, you are just making reservations with your points.
Now, I know nothing about this resort, so if it is so small that only a few of the deeded owners will be able to get the prime holiday spaces, maybe owning there may work even if it costs you 15 times as much.
Otherwise, for around $1500 you can buy 154K annual Wyndham points and use the Ocean Side Resort at 11 months in advance.

So, you have to ask yourself, do I want the 13 month reservation ability for $15k extra?

Only you an answer that question.

jmho,

Greg

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

I completely agree about this resort. It is one of my favorites and nothing else like it on the California Coast. I also agree, that you need to own here, to stay during the summer. It might not be true for this next year, but in the future, it will get more and more popular.

This resort does show up on eBay once in a while. Since it's new, it's more expensive than most.

I have a friend that bought at this resort, lost his job.. and he is selling his week at this resort with 400,000 ANNUAL points for about the same cost, you are paying for 239,000 Bi-annual points. I have been tempted to buy, but just can't afford it right now.

I stayed at this resort over the 4th of July, it's fantastic.. rooms are top notch and it'd hard to sleep with the window open, the sounds of the waves are so loud.

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

Greg,

I somewhat agree, however.. this will fast become the most popular timeshare resort in So Cal. Since the resort is not as popular currently. I think for the next year.. 11 months will get you most reservations. I think within a year or two. 11 months won't get you anything in June, July or Aug. Also, I am interested in buying, since they have 3 & 4 bd units.. which go very fast even for home resort owners.

All FF Wyndham points are equal.

In other words, you aren't trading another resort for the CA week, you are just making reservations with your points.
Now, I know nothing about this resort, so if it is so small that only a few of the deeded owners will be able to get the prime holiday spaces, maybe owning there may work even if it costs you 15 times as much.
Otherwise, for around $1500 you can buy 154K annual Wyndham points and use the Ocean Side Resort at 11 months in advance.

So, you have to ask yourself, do I want the 13 month reservation ability for $15k extra?

Only you an answer that question.

jmho,

Greg

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

this will fast become the most popular timeshare resort in So Cal.

We've heard this before.

There was someone on TUG who insisted (insisted) that no one would ever be able to book Glacier Canyon in July without owning there. Not so.

We've heard the same thing about Bonnet Creek. Not so even for the major holiday weeks---I booked Easter Week 2BR for 2009 in the first few days of the 10-month window.

My advice: buy a resale deed elsewhere, and use it to book Oceanside until it is no longer possible. While the resort is still in the early period of active sales, this is easy to do, because there are few owners to ARP. It may become hard to do in summer as the resort sells out, or it may not. If it doesn't you're way way ahead. If it does, then that's the time to buy resale at that resort because more resale deeds will have become available, lowering your overall price.

I suppose if you really want a 4BR Presidential for July 4th every year, then a developer sale is a nice luxury purchase. Otherwise, I'd buy elsewhere and use "points is points" until it no longer worked for me.

[cal5215 Junior Member Find all posts View Profile Close cal5215]

Re: Bought from developer: Wyndham Ocenside -- need help

Thank you for the quick responses!

I have a friend that bought at this resort, lost his job.. and he is selling his week at this resort with 400,000 ANNUAL points for about the same cost, you are paying for 239,000 Bi-annual points. I have been tempted to buy, but just can't afford it right now.

Will your friend sell to me? Then I can rescind...

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

The resort is 95% sold out.. and has only been open 6 months. Unless you live in So Cal and frequent the beach. It's difficult to understand. We are not like Florida. We have ZERO.. 5* beachfront timeshares. We have a couple that are 2* and 3*, and that's it. We only have a couple hotels that meet this criteria.

We have 10 million people.. the beach are packed during the summer.

You are comparing this to resorts in Orlando (Bonnet Creek) which are a dime a dozen for 5* resorts. You are also comparing it to Wisconsin (Glacier Canyon) Neither are a good example. Wisconsin probaly gets less visitors all summer, than So Cal beaches get in one weekend.

I agree they should recind, I'm just saying that in this case, I don't think.. points are points.

We've heard this before.

There was someone on TUG who insisted (insisted) that no one would ever be able to book Glacier Canyon in July without owning there. Not so.

We've heard the same thing about Bonnet Creek. Not so even for the major holiday weeks---I booked Easter Week 2BR for 2009 in the first few days of the 10-month window.

My advice: buy a resale deed elsewhere, and use it to book Oceanside until it is no longer possible. While the resort is still in the early period of active sales, this is easy to do, because there are few owners to ARP. It may become hard to do in summer as the resort sells out, or it may not. If it doesn't you're way way ahead. If it does, then that's the time to buy resale at that resort because more resale deeds will have become available, lowering your overall price.

I suppose if you really want a 4BR Presidential for July 4th every year, then a developer sale is a nice luxury purchase. Otherwise, I'd buy elsewhere and use "points is points" until it no longer worked for me.

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

Send me a PM or email and I'll give you his info

Thank you for the quick responses!



Will your friend sell to me? Then I can rescind...

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

cal5215, I have a question.

Do you know what "ARP" means in Wyndham parlance? Could you explain how it works to someone else if you had to? If I told you that, as of this moment, there was no availability for Thanksgiving or Christmas 2008, would that give you evidence that you did or did not need ARP? What if I instead told you that there was availability for Easter Week 2009?

If you aren't confident about the answers to these questions, rescind, research the system, and then think about what you want to do. You can always call the sales office and offer them the same price you have right now (about $150/K annualized) and they will fall all over themselves to write up an offer sheet for you.

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

CaliDave, you might be right. It might turn out to be the next Myrtle Beach, Destin, or Washington DC---where you have to own there to get a prime week with a good view.

But, it isn't now in that category (cf Easter '09 availability), and it might not ever. If it doesn't, a developer purchase is going to look mighty foolish. If it does, that's the time to look for a resale deed at this location---after the resale market has had a little more time to develop, and once you actually need it.

And, for the record, I lived in CA for six years, and understand the difference. Southern CA Coastal is a different beast, and an oceanfront resort of high quality will be in high demand. But, this one doesn't require ARP---yet.

[cal5215 Junior Member Find all posts View Profile Close cal5215]

The resort is 95% sold out.. and has only been open 6 months. Unless you live in So Cal and frequent the beach. It's difficult to understand.

Is this public info? Can I go to some website to see how "sold out" they are?

The sales woman (nice not pushy) kept saying the resort is sold out and that she was selling some "reserve inventory" which was available to me only because I was coded as owner (I was staying as a guest of the timeshare owner).

They tried to sell us some resort in San Francisco first but I told them I was only interested in Oceanside.

Thanks again to all you guys. A lot of good advice .... Appreciate it.

[cal5215 Junior Member Find all posts View Profile Close cal5215]

cal5215, I have a question.

Do you know what "ARP" means in Wyndham parlance? Could you explain how it works to someone else if you had to? If I told you that, as of this moment, there was no availability for Thanksgiving or Christmas 2008, would that give you evidence that you did or did not need ARP? What if I instead told you that there was availability for Easter Week 2009?

If you aren't confident about the answers to these questions, rescind, research the system, and then think about what you want to do. You can always call the sales office and offer them the same price you have right now (about $150/K annualized) and they will fall all over themselves to write up an offer sheet for you.

No idea what ARP means. It sounds like I have a 2 month head start to book at the home resort? Every one has equal priority after that?

I am trying to learn... I can hand deliver the rescind letter so I am have some time to learn more. I am going to spend the day reading it seems.

Thanks for your advice. I agree that I could buy some other resort for the time being and look for a resale at Oceanside after I exhaust that. Certainly, a viable option.

cal5215

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Cali:

You just miss out a deal

http://www.timeshareforums.com/forum...formation.html

OP, please read that link. it may or may not happen again. If you want to use it within this 4 or 5 years, it maybe a long shot. But if you don't set you mind into it until say 7 years later, it is very likely you will see few resale like this unless Wyndham suddenly wake up and decides to do something about it.

So, the question is, what will be the value of 2 use within 4 to 5 years to you.

By the way, don't hand deliever, make sure you follow what the contract say. Although a good % of the saleman will honor your wishes, I do know someone will be tricky and want to make sure you follow all the writing to detail. I believe the contract requires certified mail.

Jya-Ning

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

I don't think a point is point in this case also. Especially within drive distance of 3 big cities (o.k. SF is a little bit farther, but it is reachable). 2 of them are in top 5.

On the other hand, resale is a resale. And sometimes, deal do jump up.

Jya-Ning

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

I suppose it could be close to selling out, and the fact that they offered you San Francisco first lends credence to that. But, I would never, ever take a verbal statement from a timeshare sales person completely at face value, unless they were also willing to put it in writing.