Sandcastle Special Assessment

[joycapecod Silver Contributor Find all posts View Profile Close joycapecod]

Well, in today's mail was my Sandcastle news letter and the special assessment notice. A special assessment of $883.94; don't that just knock your socks off?

Payable in two installments of $441.97. At least when Cape Winds had their special assessment several years ago (during a much better economy) it was split over three years.By the way, haven't yet received the maintenance fee bill!

Tie this to RCI downgraduing the trades that used to be wonderful and it sure makes one wonder why we own timeshares.

Joy

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

Sandcastle lacks a democratically elected HOA board. That is the big problem. Maybe this will help light a fire to oust the developer dictatorship there. To make matters worse, this is probably intended to try to stampede members into ''converting'' to Restiva's worthless points program which management there is in bed with. Read some of the posts on the thread OY about what is going on there. The owners need to get organized and boot out the Festiva-aligned management. Also from the thread OY, the developer is not paying m/f on its units. Why do you think there is a need for a SA?

[joycapecod Silver Contributor Find all posts View Profile Close joycapecod]

Sandcastle lacks a democratically elected HOA board. That is the big problem. Maybe this will help light a fire to oust the developer dictatorship there. To make matters worse, this is probably intended to try to stampede members into ''converting'' to Restiva's worthless points program which management there is in bed with. Read some of the posts on the thread OY about what is going on there. The owners need to get organized and boot out the Festiva-aligned management. Also from the thread OY, the developer is not paying m/f on its units. Why do you think there is a need for a SA?

I know why there is a need; I've stayed there and live 65 miles away. Granted it is poor management, but one of the issues is a failed septic system and need to eventually hook up to town sewer. You are correct in that the developer is not paying fees on his units and that has been an on going problem. Also many of the owers are older, retired persons and they have lost interest in the timeshare as they no longer use it and instead of deeding back have just ignored the ownership; these units will be foreclosed upon and offered for sale. I think (or at least hope) that the developer units will also be foreclosed upon. Foreclosure is a long process anywhere, but especially in Massachusetts or at least so it seems.

Sandcastle has had issues for years; this is not a recent problem. Heck, even my home which is across the srteet from the canal needs to be painted every few years due to the salt and dampness; I don't remember the last time Sandcastle was painted.

Joy

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

New article about complaints against New England Vacation Services & Festiva

New owners, big changes at Provincetown time-share - The Boston Globe

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

Ugh, Joy, I'm sorry to hear you are being hit with this.

[joycapecod Silver Contributor Find all posts View Profile Close joycapecod]

Ugh, Joy, I'm sorry to hear you are being hit with this.

I've known for years that the "resort" has been left to rundown. We had a small assessment a few years ago and that did address things like carpet, but most of the units are not air conditioned and many need massive updating. The failed septic is the biggest problem and for anyone who has experienced a failed system it is not cheap. To make matter worse the "resort" is at the town line separating Truro from P'town and running a sewer line is an expensive undertaking.

For me, if the resort improves then it is worth it. I own a week 27 and it still has excellent trade power even given the problems. If the issues are addressed then I can only speculate that the trade power will benefit.


Joy

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

I've known for years that the "resort" has been left to rundown. We had a small assessment a few years ago and that did address things like carpet, but most of the units are not air conditioned and many need massive updating. The failed septic is the biggest problem and for anyone who has experienced a failed system it is not cheap. To make matter worse the "resort" is at the town line separating Truro from P'town and running a sewer line is an expensive undertaking.

For me, if the resort improves then it is worth it. I own a week 27 and it still has excellent trade power even given the problems. If the issues are addressed then I can only speculate that the trade power will benefit.


Joy

And it will be great to have a nice timeshare in PTown! Still, I hate to think how many deedbacks/foreclosures this might trigger, and I hope they won't benefit the developer.

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

Between NEVS, Outfield, and Festiva, this resort is infested by a nest of timeshare snakes. The management arrogantly and arbitrarily refuses to obey state law requiring them to allow members to inspect and copy records including financial records and membership lists. The same nest of snakes infests one other timeshare on Cape Cod. The State AG, if he was doing his job, would come down on them like a ton of bricks, just like the Missouri AG did. I would not trust anything financial out of this crowd. Members need to organize and take control of their timeshare back from these slimers. Another Cape Cod timeshare recently was successful in ousting a developer dictatorship like this one.

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

I'm confused by some of these comments...

The problems for this resort all seem to be financial...

Is that because "this" developer has refused to pay maintenance fees for the unsold units- or because for years the maintenance and reserves have just been underfunded and "this" developer is now trying to play catch up for years of neglect?

[joycapecod Silver Contributor Find all posts View Profile Close joycapecod]

I'm confused by some of these comments...

The problems for this resort all seem to be financial...

Is that because "this" developer has refused to pay maintenance fees for the unsold units- or because for years the maintenance and reserves have just been underfunded and "this" developer is now trying to play catch up for years of neglect?

It seems to be a combination of things...underfunding, lack of m/f payment/collection, sewer problems etc. It also seems that the unsold units are shoulder season, summer weeks sell fast if a reason price is asked. When I bought there in 2002 fees were in the $200 range if memory serves me. We all know you can't run a resort on fees that low, especially in a state with a high cost of living index. General maintenance was not done and as with your home if you don't keep things "fixed" they worsen and the little problems become big problems.

Hopefully, with the s/a and the increase in fees to a more realistic amount the resort will fix and repair and upgrade facilities and it will be a place when you WANT to vacation.

Joy

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

There are lengthy threads OY about this resort and another that is under the thumb of NEVS developer dictatorships. There is a very real abuse of power by these people, and their tie-in to the shady Festiva organization raises big questions. NEVS is not the original developer, but a subsequent developer who bought out remaining inventory at both resorts a couple of years ago. It arrogantly refuses to allow members to democratically elect HOA boards to run the resort and usurps management powers for itself.

And yes, from the threads, OY, it is NOT paying m/f's on the weeks it owns. Or SA's either. The members need to lawyer up and go to war with NEVS if they want to put a stop to these abuses.

Sometimes, members can get state officials involved in these abuses. A subsequent developer who similarly bought out the inventory and ''developer rights'' of the original developer at Bodie Island Beach Club on the OBX, for example, tried many of the same tactics of imposing a developer dictatorship, not paying m/f on weeks owned, stonewalling on records, etc. The members appealed to the North Carolina Real Estate Commission, which conducted a thorough investigation, compelled the subsequent developer to surrender management of the resort and control of the HOA, and pay the HOA a substantial sum for overdue m/f's on his weeks. Oh, and they also took away his real estate brokers license, as well.

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

To me, it sounds like this resort may actually have a chance at a future.

Festiva has a reputation for heavy-handed sales tactics and customer dis-service. However, in this case- it seems the developer activity may be positive for the resort in the short term..... The desire of the developer for greater profit from increased sales has led to a funding increase for needed repairs. The Festiva point sales should also help as that is a manner in which the off-season interests can be packaged and sold..

Educated owners will keep their high season weeks and decline the point conversions. Uneducated owners will "upgrade" to points, and generate the sales the developer wants. The points program will bring in a new batch of visitors to the area.

The long term view could be scary in that fixed week owners may find that they are never able to gain influence of the HOA, since Festiva may maintain a controlling interest.

Joy- your outlook is truly fantastic! Hopefully, you'll get to enjoy a few more years in an improved and updated resort.. If the Festiva influence becomes too much to bear- simply liquidate your ownership at this resort and move on.

[joycapecod Silver Contributor Find all posts View Profile Close joycapecod]

Joy- your outlook is truly fantastic! Hopefully, you'll get to enjoy a few more years in an improved and updated resort.. If the Festiva influence becomes too much to bear- simply liquidate your ownership at this resort and move on.

I bought a week 27 on the cheap. I think it was in the $2500 range for a full studio in P'town about 8 years ago. I've only been there once, the year we bought and then only for 3 nights and a friend used the balance of the week. I've rented it once for 3x the yearly fee and the rest has been exchange. Even with all the issues, it sees almost anything deposited except in rare instances. It is comparable to my 3 bedroom Ireland week 32, again, except in rare instances.

If I deeded it back or gave it away I feel I've gotten my money from it. I've paid my asssessment in full, so may need to hold out a few years to see what happens, but if I give it away I still feel I did OK, and we all know I could likely sell it for the assessment.

Timeshare isn't bought for an investment, but for a chance to force vacation taking; it has done that for us and more.

Joy

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

If you read the threads OY, you will find that contrary to your assumptions, NEVS is NOT selling the inventory it acquired from the previous developer. It sits on those weeks and doesn't pay the m/f's, something that is harmful to the resort and its owners. Members have been watching the records of deeds being recorded, and all they are seeing are deeds from the unfortunate victims of the Outfield / Festiva conversions, not deeds from NEVS selling its developer weeks. It appears that NEVS is working to keep a stranglehold on the HOA through the developer weeks plus the Outfield / Festiva conversions, and thus get a hammerlock on keeping control of management.

The needed repairs are being gouged from the members while the developer claims it does not have to pay SA on developer weeks, just like it is not paying m/f's on them. If they had an independent member-controlled HOA, they could go after those m/f's owed by the developer and that would probably go a long way to reduce the SA, and spreading the SA over developer weeks as well as member weeks would also reduce it.

What resorts faced with such slugs need to consider is the poison pill that members used at Stouts Hill in the UK to ward off Sunterra which was trying to buy out the original developers interests there. At the recommendation of one of their board members (who told me the story), the annual general meeting of the members amended their governing instruments to say that any member had only one vote in the AGM no matter how many weeks it owned. That would have given Sunterra only one vote at the AGM and they could not have run roughshod over the other owners as they (and their DRI successors) have at other resorts. Sunterra lost interest in Stouts Hill in a hurry, much to the ultimate benefit of Stouts Hill members!

To me, it sounds like this resort may actually have a chance at a future.

Festiva has a reputation for heavy-handed sales tactics and customer dis-service. However, in this case- it seems the developer activity may be positive for the resort in the short term..... The desire of the developer for greater profit from increased sales has led to a funding increase for needed repairs. The Festiva point sales should also help as that is a manner in which the off-season interests can be packaged and sold..

Educated owners will keep their high season weeks and decline the point conversions. Uneducated owners will "upgrade" to points, and generate the sales the developer wants. The points program will bring in a new batch of visitors to the area.

The long term view could be scary in that fixed week owners may find that they are never able to gain influence of the HOA, since Festiva may maintain a controlling interest.

Joy- your outlook is truly fantastic! Hopefully, you'll get to enjoy a few more years in an improved and updated resort.. If the Festiva influence becomes too much to bear- simply liquidate your ownership at this resort and move on.

[Sou13 Junior Member Find all posts View Profile Close Sou13]

Southcape Resort

The problem is that while the previous "developers" let Sandcastle run down, they also held on to 550 unsold weeks at Southcape Resort. They kept Southcape in better repair than Sandcastle but then combined the two resorts into one sales agreeement with New England Vacation Services, which is 75% owned by Outfield Marketing:
http://www.tugbbs.com/forums/showthr...=84127&page=49