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Attached is a full transcript of the April 17, 2007 Chat session about Fairfield resorts!
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Q & A from Fairfield Chat 4/18/07
Ken and Frank,
Attached are the two documents I used for the questions and answers for the Fairfield chat on April 18, 2007. Please decide if you want to merge it with the Chat log or put is as a sticky here. -
Chat Transcript, Cleaned Up!
Special thanks to bnoble for cleaning up the chat log as posted below!!!
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katiemack: welcome Tcornel
tcornel: Good evening
tonyg: That's OK, we've had it for you. We do it about twice a week in
March
katiemack: I believe you are our guest speaker!
katiemack: ooooo
katiemack: I see mshatty's name but no mshatty here?
tonyg: It happens, I've designated tcornel as a guest speaker (green
pawn)
katiemack: i guess he is here in spirit only? Tom are you there?
tcornel: yes be with everyone in a couple minutes
katiemack: oh fine, just wanted to say hi
tonyg: Now that I have DSL- I may be here but really out for a smoke.
katiemack: no!
tonyg: innkeeper - welcome
mshatty: Hi everyone, I'm back
katiemack: there u are!
mshatty: Hi katiemack
tonyg: KM was just speculating as to your demise
katiemack: so are you enjoying that FF game still?
katiemack: Angela! Hi
tonyg: welcome again
katiemack: hey Big guy!
bigfrank: Hey you made it
katiemack: yes!
bigfrank: Hi Guys
tonyg: Hi Don Fransisco
bigfrank: Ken will not be with us tonight
bigfrank: Tony we need to save the chat
tonyg: no log ?
mshatty: Who will be saving the chat?
tonyg: superman
katiemack:
bigfrank: I don't play with this chat like you do, Do you know how to
work it better than me or are we doing it like last time copy and paste
bigfrank: I thought Angela was here where did she go
tonyg: She is having trouble getting on
bigfrank: Oh boy here we go again
katiemack: is anyone posting a "hey the chat is happening now" post?
bigfrank: Tom thank you for coming over to help
bigfrank: To soon to post wait 10 min
katiemack: i think tom stepped away
mshatty: Hey KM have they ever finished construction on Hwy 179
tcornel: on the phone...couple minutes
bigfrank: K
katiemack: :bang:
bigfrank: take your time we have 20 min
mshatty: How about 89A, is re-opened now?
katiemack: yes
tonyg: Frank I don't see the log option
katiemack: you wouldn't believe the mess of construction !!!!! 179 is
under siege
katiemack: the dust is unreal!
mshatty: KM, are you in the middle of it?
katiemack: peripheral some, middle at times, it varies with their sched
of work and our needs to be somewhere
tonyg: Hi Jya
mshatty: Hi Jya-Ning
Jya-Ning: hi mike
Jya-Ning: hi tom
Jya-Ning: hi everyone
katiemack: :hi:
Jya-Ning: Thanks
katiemack: :hi:
tonyg: :hi:
katiemack: i hope Spence comes, we have smilies
tonyg: :welcomeback:
katiemack: did you get kicked out mike?
mshatty: No I accidently went hit back on my webpage
tonyg: :hi:
katiemack: hello!
bigfrank: Ang it worked
Jya-Ning: Hi Gary, Hi Cindy
ArtsieAng: Hi guys....it worked!
BoardGirl: Hey everybody!
tonyg: It wasn't easy tho
bigfrank: I have another person to help be back in a few
BoardGirl: why is it 1 am? I knew I felt tired...
tonyg: :hi:
mshatty: Hi TANolin
TANolin: hello
katiemack: how many FF olders in the room?
mshatty: me
Jya-Ning: I refuse to be call olders
tcornel: FInally off the phone. Sorry for the delay.
ArtsieAng: some of us are here to learn more about FF
mshatty: I wonder if Stan (aceneights) will be here
katiemack: sorry, owners? where did that come from?
Jya-Ning: :lmao:
tonyg: Freudian slip
katiemack: hi
tonyg: :hi:
TANolin: :new:
Jya-Ning: Hi Mark
tcornel: I thought I left a camera on and you guys were looking at my
white hair!
basham: Hello all.
Jya-Ning: Tom you have webcam?
katiemack: that is a different kind of chat
tcornel: Yes but I am technically challenged
bigfrank: Lets try to hold off on the FF questions untill 8:30
mshatty: Frank, at 8:30 I will post the agenda
katiemack: seven minutes...i was just trying to find out how many FF
Owners we have here so far
basham: OK what is you favourite beverage.?
ArtsieAng: cosmos
katiemack: LOL
tonyg: :cold:
tcornel: What is the meaning of the different color pawns on next to
the screen names?
mshatty: Hi Marti
tonyg: :hi:
katiemack: some of us are hot, some not
ArtsieAng: hi marti
katiemack: just kidding
Joestein: Hello all!
ArtsieAng: hi carol
bigfrank: Carol you made it
katiemack: hi carol, hoooknslice
mshatty: Shopgirl needs to be here, she's very interested in FF
katiemack: hi joestein
Marti: Hello Everyone
hooknslice19: Hi everybody
Carol C: I'm still early, right?
katiemack: sure
tonyg: Strange Carol would enter when you said that, KM
bigfrank: M<arty my love
Carol C: Hi Tom! Welcome! :welcomeback:
katiemack: now we are beginning to cook!
SOS8260456: Welcome Tom!
Carol C: Is it 8:30 by all your clocks? Ready to cook? :cook:
Carol C: Oops :eat:
Jya-Ning: Green is the host, red is moderator, blue is citizen
tcornel: Good evening. Lots of familiar names and some new friends!
ArtsieAng: the mets are winning 8-0
Carol C: Mike Holmes, do you want to introduce Tom now?
katiemack: miracles do happen
Joestein: Go mets!!!!
Carol C: Go Mets, btw.
Carol C: Hey Mike are you here yet?
mshatty: We still have about 3 minutes before we start. I would like to
wait
Carol C: OK, my clock is fast.
katiemack: hey, Sydney!
Carol C: I'll practice my sound effects.
katiemack: we already knew that Carol
ArtsieAng: hi Sydney
SOS8260456: I have 8:27 also.
mshatty: Carol, you just want to figure out what to do with those 77k
Sydney: Hello! We're an hr early right?
Joestein: The seventh inning stretch is going to be the Charlie Manuel
Challange!
Sydney: it's 10:30am here
katiemack: daylight savings time
mshatty: Hey CC
katiemack: :hi:
tonyg: 1 minute early, Lang
Carol C:
oint: Fairfield/Wyn points!!!
Sydney: The forum time hasn't been changed then? That's what I was goin
by.
tonyg: It's about that time
ArtsieAng: hi BB
Jya-Ning: hi boca
mshatty: OK, tonyg or frank should be start (Hi Boca)
Carol C: :hi:
BocaBum99: Hi everyone
Jya-Ning: Hi Dave
BoardGirl: I see 1:30 am
katiemack: :hi: tupperinct
tupperinct: Hello
CC_dad: Hi Jya-Ning and everyone else!
tonyg: Yes Mike
mshatty: Here's the proposed agenda: 1. Introduce Tom C (using Carol
C's bio info) 2. Introduce FF point system 3. Post general questions and
answers on the basic FF rules of use 4. Post advance questions asked 5.
See if Tom C has any comments or info 6. Open up to general questions.
Carol C: Mike it's time! Let's introduce Tom.
Sydney: Whoever's hosting it should start. Who's that?
mshatty: That be me.
bigfrank: Can we wait a few minutes people are still trying to get in
Sydney: ok
Carol C: OK let's wait. But if they have to install new Java it might
be a lonnng wait!
bigfrank: Mike , Carrol and Tom are hosting
Carol C: Just kidding.
Sydney: lol
bigfrank: We got Katimack in. it was a vista thing
Carol C: :drive: I'll drive...look, no hands!
ArtsieAng: looks more like no feet to me
Carol C: :frank: I smell a cigar in here.
Sydney: That's good. Hiya Katie!
katiemack: hi Sydney
Carol C: Tom don't worry, the silliness will abate as soon as we get
officially started.
bigfrank: That be my cigar
katiemack: :notme:
Carol C: Smells good Frank, it is Cubano contrabando, no?
Sydney: Thanks for coming Tom. Yes, we're just passing the time here.
CC_dad: Anyone dealing with that wonderful Northeast weather? We left
MB SeaWatch just in time on Saturday.
hooknslice19: My ark is almost fonoshed here in CT
Carol C: :eat: I'm hungry to learn all about FF/Wyn points!
hooknslice19: "finished"
tcornel: Carol.....the best point system in the business....imho
Carol C: Tom, that's what I've heard too! :clap:
Carol C: So who are we waiting for Frank?
Carol C: Who's still coming into chatroom that we know is coming but is
not here yet?
katiemack: might as well admit to being the true points skeptic in the
crowd, here
bigfrank: There are more tring to get in. I am answering there PM and
forum questions
Carol C: Katiemack, we need a skeptic to keep things lively! :clap:
katiemack: am i still welcome?lol
bigfrank: We should get started,
Carol C: Yes katie...after all that vista trouble of course you are
welcome!
bigfrank: Mike , Carol and Tom the floor is yours
mshatty: Our special guest for this evening’s chat is Tom Cornelius, a
longtime Fairfield Fairshare Plus points owner and reseller. Tom is
from Ohio, married with two kids, and enjoys traveling 6 weeks a year. He
currently has about 3 million FSP points in his personal account, with
his first package bought in 1991 (2 converted Williamsburg Patriots
Place deeds for a total of 336,000 points). He also holds many many more
points in trust.
Carol C: Mike take it away!
mshatty: According to Fairfield, Tom is one of the largest converters
of fixed weeks to points in the system, with conversion fees paid to FF
in the 6 figures for the last 2 years. Tom divides his working hours
about 60-40 between his involvement with FF/Wyn points and his CPA
practice started in 1976.
mshatty: Fairfield Vacation Resorts is now known as Wyndham Vacation
Resorts. Renaming of resorts is in process and will be substantially
completed in 2007.
mshatty: FF/Wyn is a timeshare company that has both a traditional
fixed week timeshare program and a points based program. Both programs are
based on Home resorts. Fixed week maintenance fees are determined and
paid to the Home resorts. If you own FF/Wyn points, you will pay the
MF to FF/Wyn as well as a Fairshare Plus fee, based on the number of
points you own. FF/Wyn forwards the MF to the Home resort.
BocaBum99: wow. you type fast
mshatty: FF/Wyn points will generally be based on one of three types of
deeded ownership: converted fixed weeks, converted float weeks, and
UDI (Undivided Deeded Interest). Often you will find all three types of
deeded ownership available at a home resort. A good example of this is
FF Pagosa in Colorado. All “new” construction timeshares being built
by FF/Wyn are based on UDI ownership. However, new acquisitions by
FF/Wyn may also be based on converted fixed or float weeks, like the Pahio
timeshares in Hawaii. For example, some current owners at Pahio may
agree to convert their ownership interest and become FSP (points) owners.
mshatty: There are some RTU agreements, primarily El Cid, but these are
a very small minority.
Carol C: LOL Boca!
mshatty: What is the significance of my "Home" Resort? Your “home”
resort is the specific resort location of the ownership interest indicated
on your purchase contract. It is important because it is where you may
access the Advance Reservation Priority (ARP) feature, which allows you
exclusive privileges to reserve reservations up to 3 months before it
becomes available to Members with a different “home” resort. The ARP is
available 13-10 months in advance of the check-in date, so it cannot be
guaranteed in your first year. Maintenance fees are based upon the
home resort and in some cases, the section of the home resort.
mshatty: Reservation Types Advance Reservation Priority (ARP) Advance
Reservation Priority is a special reservation feature with FairShare
Plus - giving a right to reserve a three-, four-, or seven-night stay at
the home resort as far as thirteen months in advance of the check-in
day. Fixed week owners have exclusive Advance Reservation Priority to
book their week of ownership 13 to 10 months in advance of check-in. UDI
or float week owners, have Advanced Reservation Priority to book
reservations equal to or less than their annual point allotment at their home
resort - as far as 13 months from the desired travel date on a first
come, first served basis with the other UDI owners at the resort.
Standard Reservation Period At 10 months prior to arrival, you can request
reservations at any of the resorts in the program. This is called the
Standard Reservation Period, from 10 months to 91 days prior to arrival.
The following guidelines apply during the Standard Reservation Period:
Three-, four-, or seven-night minimum stays are required during Prime
season. A two-night minimum stay is required during High, Value, and
Quiet seasons. Points may be rented to complete the last night of a
stay - at a cost of $10 per 1,000 points. Express Reservation An
Express Reservation is a reservation made between 90 days and the day of
check-in. The Express Reservation provides the opportunity to: Make
a reservation for a two-night minimum stay during all seasons.
Borrow points from a future use year. Rent points at $5 per 1,000
points. Because Express Reservations are made a short time in advance of
travel, availability may be limited. Note Some locations require a
full-week reservation during all seasons, regardless of check-in date.
mshatty: Boca that was really fast!
mshatty: When do I need to pay for Housekeeping Credits? Each Use Year,
you receive one (1) Housekeeping Credit for every 1,000 Points of
ownership. Housekeeping Credits are deducted from your account based on the
unit type you reserve and the number of nights you are staying at a
resort. Depending on how you vacation, you may have enough Housekeeping
Credits to last you for the year. If you typically take several smaller
vacations throughout the year, more cleanings are required, and you may
use all of your Housekeeping Credits. If you need additional
Housekeeping Credits, they may be purchased as needed.
BoardGirl: pls slow down!
katiemack: i lost three threads back
mshatty: Why do some FairShare Plus program features require a
Reservation Transaction? Each Member receives 1 (one) Reservation Transaction
for every 77,000 Points of ownership. You receive your Reservation
Transactions on January 1st and they expire on December 31st of each year.
Once you use all of the Reservation Transactions allotted to you, you
may pay $25 for each additional program feature you choose to use. You
can have multiple transactions (via phone and online) on the same day
and will counted on that day as “one” transaction.
Carol C: Frank, this is being saved for archive right?
katiemack: very lost right now
mshatty: I'll hold here until you tell me to go again
Carol C: katie me too, lost a page
katiemack: lost most of your intro
Carol C: Frank are you there? Is this all being saved/archived?
tcornel: Katiemack. Do not worry. plenty of times to cover lost
ground.
mshatty: Do you want me to start again somewhere?
bigfrank: Yes
Carol C: It's going so fast we can't read that fast!
mshatty: I'll restart
BocaBum99: You had me at hello.
Carol C: Mike start over. Just kidding
Sydney: Just scroll up if you miss something.
mshatty: FF/Wyn is a timeshare company that has both a traditional
fixed week timeshare program and a points based program. Both programs
are based on Home resorts. Fixed week maintenance fees are determined
and paid to the Home resorts. If you own FF/Wyn points, you will pay the
MF to FF/Wyn as well as a Fairshare Plus fee, based on the number of
points you own. FF/Wyn forwards the MF to the Home resort. FF/Wyn
points will generally be based on one of three types of deeded ownership:
converted fixed weeks, converted float weeks, and UDI (Undivided Deeded
Interest). Often you will find all three types of deeded ownership
available at a home resort. A good example of this is FF Pagosa in
Colorado. All “new” construction timeshares being built by FF/Wyn are based
on UDI ownership. However, new acquisitions by FF/Wyn may also be
based on converted fixed or float weeks, like the Pahio timeshares in
Hawaii. For example, some current owners at Pahio may agree to convert
their ownership interest and become FSP (points) owners. There are some
RTU agreements, primarily El Cid, but these are a very small minority.
SOS8260456: Is your scrolling not working? Frank does anything special
have to be done to save this?
Carol C: Mike will we be tested on all this?
katiemack: my scroll only goes to 5:39 PM posting
katiemack: all above that is gone
bigfrank: Guys give me a sec. I ran into a problem saving
gophish: hi folks, sorry I'm checking in late
SOS8260456: Katie, so everything after 5:39 pm is not showing?
Carol C: Uh oh, Frank put down that cigar and get to saving this stuff.
We all want to read it later!
mshatty: No test. I will pause between posts so you can read
katiemack: everything before
Marti: FF/Wyn is a timeshare company that has both a traditional fixed
week timeshare program and a points based program.
mshatty: I have all of the stuff I am posting in a document
Carol C: gophish, you missed so much, and we will be tested, just
multiple choice, but still...
mshatty: What is the significance of my "Home" Resort? Your “home”
resort is the specific resort location of the ownership interest indicated
on your purchase contract. It is important because it is where you may
access the Advance Reservation Priority (ARP) feature, which allows you
exclusive privileges to reserve reservations up to 3 months before it
becomes available to Members with a different “home” resort. The ARP is
available 13-10 months in advance of the check-in date, so it cannot be
guaranteed in your first year. Maintenance fees are based upon the
home resort and in some cases, the section of the home resort.
SOS8260456: I just went back and my scrolling is only going back 15
minutes.
bigfrank: Having trouble saving chat hold on a min
Carol C: Frank are you successfully archiving?
Marti: What is the significance of my "Home" Resort?
Carol C: Mike, quick question...
Carol C: Are these the questions we submitted to Tom in advance?
Carol C: This home resort question and others? Or is this still a
general intro?
mshatty: All of this stuff is in a document that Tom and I worked on
including the advance questions
tcornel: The home resort determines where you can make priority
reservations and also what your maintenance fees will be tied to.
Carol C: Mike and Tom...thanks for doing that.
mshatty: Reservation Types Advance Reservation Priority (ARP) Advance
Reservation Priority is a special reservation feature with FairShare
Plus - giving a right to reserve a three-, four-, or seven-night stay at
the home resort as far as thirteen months in advance of the check-in
day. Fixed week owners have exclusive Advance Reservation Priority to
book their week of ownership 13 to 10 months in advance of check-in. UDI
or float week owners, have Advanced Reservation Priority to book
reservations equal to or less than their annual point allotment at their home
resort - as far as 13 months from the desired travel date on a first
come, first served basis with the other UDI owners at the resort.
Marti: Advance Reservation Priority (ARP)
TANolin: On the transactions 1 per 77,000. For example, if I made a
transaction using all 154,000 points for 2007, I have 1 transaction left.
If I then make a reservation using my 2008 points later in 2007 does it
use my 2007 transaction that is left or 2008's?
tcornel: Advance Reservation Priority can be thought of as the home
resort preference.
mshatty: TANolin, the answer is yes.
mshatty: Standard Reservation Period At 10 months prior to arrival,
you can request reservations at any of the resorts in the program. This
is called the Standard Reservation Period, from 10 months to 91 days
prior to arrival. The following guidelines apply during the Standard
Reservation Period: Three-, four-, or seven-night minimum stays are
required during Prime season. A two-night minimum stay is required
during High, Value, and Quiet seasons. Points may be rented to complete
the last night of a stay - at a cost of $10 per 1,000 points.
Carol C: Tom did you see TANolin question?
bigfrank: Ok I was able to save every thing from 8:40 we lost the first
2 min
tcornel: It resets every year
CC_dad: Resevation transactions are based upon the year you book the
Reservation, not necessarily the year the points are used.
Carol C: Frank, great work! Go have a nice cigar!
katiemack: :clap:
Carol C: Thanks for xtra clarification CC-dad.
mshatty: Express Reservation An Express Reservation is a reservation
made between 90 days and the day of check-in. The Express Reservation
provides the opportunity to: Make a reservation for a two-night
minimum stay during all seasons. Borrow points from a future use year.
Rent points at $5 per 1,000 points. Because Express Reservations are
made a short time in advance of travel, availability may be limited.
Note Some locations require a full-week reservation during all seasons,
regardless of check-in date.
Marti: Standard Reservation Period
Marti: Express Reservation
mshatty: When do I need to pay for Housekeeping Credits? Each Use Year,
you receive one (1) Housekeeping Credit for every 1,000 Points of
ownership. Housekeeping Credits are deducted from your account based on the
unit type you reserve and the number of nights you are staying at a
resort. Depending on how you vacation, you may have enough Housekeeping
Credits to last you for the year. If you typically take several smaller
vacations throughout the year, more cleanings are required, and you may
use all of your Housekeeping Credits. If you need additional
Housekeeping Credits, they may be purchased as needed.
Carol C: I'm glad we won't be tested on this...whew!
katiemack: can i ask a question now, before the topic scrolls off...?
mshatty: Sure
Marti: Housekeeping Credits
katiemack: some res require full week?
Carol C: :hi:
katiemack: so does that mean full points value?
katiemack: locations, I think you said
mshatty: Not necessarily. Depends on when you make it and where
tcornel: Some of the resorts were devoped as fixed weeks so during
prime season a full week reservation is required.
katiemack: in that 90 day
katiemack: okay
mshatty: Tom C, there are not many of those resorts that require full
weeks are there?
TANolin: Do housekeeping credits expire just like your FSP points?
Carol C: Tom can you name which resorts require full week ressies?
mshatty: TANolin, if you don't use them by the end of your use year,
they expire
tcornel: Probably less than half. Points resorts started in the early
1990's.
mshatty: Why do some FairShare Plus program features require a
Reservation Transaction? Each Member receives 1 (one) Reservation Transaction
for every 77,000 Points of ownership. You receive your Reservation
Transactions on January 1st and they expire on December 31st of each year.
Once you use all of the Reservation Transactions allotted to you, you
may pay $25 for each additional program feature you choose to use. You
can have multiple transactions (via phone and online) on the same day
and will counted on that day as “one” transaction.
katiemack: example of a typical housekeeping credit tally for a year
ownership?
CC_dad: And some points resorts require a full week stay during holiday
periods such as Thanksgiving week. Las Vegas and a few others required
that at some point last year.
mshatty: You get 1 HK for each 1,000 points. A studio requires 28 HK,
a 1BR requires 63 HK, a 2BR requires 77 HK etc.
Carol C: Mike and Tom, is all that math/accounting done by Fairfield
computers so we don't have to get bogged down in tracking all of it?
mshatty: Yes
tcornel: The ones that insist on full week reservations are generally
the affiliate resorts that are not set up to do part week stays due to
housekeeping and other considerations.
katiemack: is it run by Wyndham, now RCI?
tcornel: FF does it
BoardGirl: "requires"? that means, use that many for that size?
tcornel: they will let you know if you owe!
BoardGirl: not just one HK credit per stay?
Carol C: Tom does El Cid allow partial weeks or just full weeks?
tcornel: Otherwise it is on pg 10 of the current manual
mshatty: A red studio costs 70,000 points. HK is 28 credits. There's
a spread of 32 HK credits
katiemack: Hi, Lawren
BoardGirl: ok, thanks
lawren2: Hi sorry I'm late. I'll just read
mshatty: What is the significance of my "Use Year"? Your Use Year is
the 12-month period in which your points are allocated for a variety of
uses annually, and was determined based upon the date your first
ownership entered the FairShare Plus program. Remember, Points do not
automatically roll over from one Use Year to another, so it is important to
always be aware of your current year’s points balance! Also note that
Points are taken from the Use Year in which the vacation/usage takes place,
not the date the reservation is confirmed. So it is not necessary to
wait until your annual Use Year begins to plan your vacation..
SOS8260456: Carol, like any system, it is always good to do your own
accounting in case they mess something up
hooknslice19: So the Reservation Transactions are calendar year
regardless of when your points Use Year is??
Carol C: Tom did you see my question about El Cid? Do they allow
partial week ressies?
mshatty: Hook, yes
Marti: "Use Year"
mshatty: Can I "roll over points" to use them next year? Points do not
roll over from one Use Year to another, so it is important to always be
aware of your current year’s points balance!
mshatty: Does FairShare Plus offer special Points discounts available
to all members? Yes, when an excess of inventory is observed 6 weeks or
less in advance of the check-in date, special discounts may be offered.
tcornel: Carol. I don't know about El Cid. My expertise is in buying,
selling, converting weeks, RCI transactions, maintenance fees, etc.
On making reservations I lose a little because I only travel 6 or 7
weeks a year and like everyone else I have my favorites
CC_dad: As SOS indicates, errors do occur - whether it's your points,
HK credits, reservation transactions, etc. They all may be worth
keeping track of on your own, unless you are VIP Gold or Platinum.
Carol C: Thanks Tom.
mshatty: What is the VIP Program? The FairShare Plus VIP Program
provides special benefits to Members who have 300,000 eligible FairShare Plus
Points or more. At this time, FF/Wyn states that no resale points will
count toward VIP Program. Program Summary The VIP Program provides
special benefits to Members who have 300,000 FairShare Plus points or more
that in general are purchased from FF/Wyn. In recognition of your
ownership status, you receive exclusive benefits, enhanced service and
increased value. A VIP Members get certain discounts and reservation
upgrades. Members with 500,000 FairShare Plus points belong to the Gold level
and receive additional benefits and services. Members with 1,000,000
FairShare Plus points are Platinum Members and receive even more benefits
and services. FairShare Plus VIP Levels Membership Point Level VIP
300,000 Gold 500,000 Platinum 1,000,000 VIP members receive
vacation planning perks, special benefits during their stay at a Fairfield
managed resort, and extra benefits all year long. Note VIP benefits
apply when making a FairShare Plus reservation only. If you are traveling
on an external exchange reservation, a PlusPartners reservation, a
cruise reservation, an Adventure Club trip or a rental reservation, your
VIP benefits are not applicable. All VIP benefits, both while planning
your vacation and during your stay, are exclusively for VIP Members of
FairShare Plus. When a Guest Confirmation is applied to a reservation,
VIP benefits extended to that reservation will no longer be valid
unless you, the VIP Member, are traveling with your guest for the length of
the reservation. Guests traveling without a FairShare Plus VIP Member
present will not receive VIP benefits during their stay
Carol C: Tom what are your favorites?
katiemack: whoa!
tcornel: Keep track of your points by use year. Errors can be quite
common there.
Marti: What is the VIP Program?
SOS8260456: Tom, how do you keep track of your points and information?
Do you use a spreadsheet?
Carol C: In summary, is VIP "all that"?
tcornel: VIP is like a frequent flyer program for timeshare users. It
only applies to deeds purchased from the developer
Carol C: Or is VIP nice to have but not critical.
tcornel: I use an excel spreadsheet
tcornel: VIP is a nice perk but not worth the $$ lost by buying from
the developer
mshatty: RCI / II Worldwide Exchange Points Chart The Worldwide
Exchange Points Chart is used to determine the number of Points that need to
be used for an exchange deposit. In FairShare Plus, the amount of
Points you deposit will determine what you can exchange into. First,
determine the size unit you will need and what season you want to travel using
your exchange company. Then, refer to the Worldwide Exchange Points
Chart below to determine the Points required for the deposit that meets
your travel need. Worldwide Exchange Points Chart Season Studio 1 Bedroom
2 Bedroom 3 Bedroom RCI Red 70,000 105,000 154,000 254,000 II Red
RCI White 42,000 77,000 126,000 189,000 II Yellow RCI Blue 28,000
63,000 77,000 154,000 II Green * Point totals shown are for a
standard 7-night exchange. * Housekeeping Credits required.
CC_dad: I always keep track of my points in a spreadsheet.
Carol C: Oh that leaves most of us out. Who here has bought FF/Wyn pts
from developer? A show of hands please!
bigfrank: Missed 2 min of chat at 8:54
ArtsieAng: hi glitter
TANolin: Tom - can you post the template of your spreadsheet for others
to 'borrow' in your YAHOO forum?
Glitter: Hi, wow, 33 people in the chat!! I'm going to lurk
mshatty: RCI Search First / II Confirm First Because RCI and II are
exchange companies and rely on other Members to make deposits, it is
necessary that a deposit is available in your account to search for
availability of an exchange. Both RCI and II offer a feature that allows
FairShare Plus members to find out what is available before finalizing a
deposit.
mshatty: How does the RCI Search First / II Confirm First work? If you
would like to search for availability with your Worldwide Exchange
Company without making a final transaction, you ask a Vacation Planning
Counselor to deposit an RCI "Search First" or an II "Confirm First"
deposit. The Vacation Planning Counselor will connect you with an RCI
Exchange Counselor who will search available inventory to see if anything
matches your request. Then, you will need to decide if you would like to
cancel your request or continue with a final transaction.
tcornel: FF sells points at about .14 a point. Resale is around .01 to
.03 a point. If you buy 154,000 points how do you make up the 18000
you lost by buying from the developer? Remember once the recision period
is over your points are now "resale"
mshatty: What else do I need to know about RCI Search First / II
Confirm First? • You have 2 days to determine what you would like to do with
your Search First / Confirm First. • If you do not contact Vacation
Planning within 2 days to cancel your Search First / Confirm First
request, the FairShare Plus Points will be deducted from your account and the
deposit will become a final transaction. • Once an exchange reservation
is placed on hold or confirmed, or if an ongoing search is started with
your exchange company, the deposit becomes a final transaction.
CC_dad: Several here have bought developer - some as part of enrolling
non-FF RCI properties into the PIC program. It helps bring down the
average cost of qualifying points purchased that qualify for VIP.
mshatty: Now for the question posted in the advance question thread.
mshatty: What changes have you seen since the renaming to Wyndham? So
far no substantial changes; it has primarily been cosmetic: resort
signs being changed, letterhead and stationary, etc. 5 Wyndham hotels have
been added for booking with FSP points. There have been several
WorldMark resorts added to the list of resorts that are now available to use
with FSP points. There is a preferred discount rate, 15 to 20 % for
booking rooms at Wyndham and Wyndham owned hotels by booking through the
FF/Wyn website.
Marti: Who here has bought FF/Wyn pts from developer?
SOS8260456: Please note that II works totally different from RCI and
you do not have any time to "think about it"
CC_dad: Marti - I have with PIC.
katiemack: not even 24 hours with II? to think
SOS8260456: I have purchased from the developer, but I did my homework
first, converting several weeks and picing several also. This was also
before they made significant changes to the Pic program
mshatty: 1. I've decided for a number of reasons not to purchase more
FF points. I may be, and am interested in renting points at times. The
only organized place to do that, that I am aware of is the Yahoo FF
group. Are there any other venues.? One could
advertise on TUG, Bidshares, My Resort Network or other places. But I would
think that the Yahoo Group would produce satisfactory results for most.
Glitter: II lets other cancel within 24 hours, isn't it the same with a
FF deposit?
gophish: Marti, we bought our points from Developer prior to knowing
better but I have still been relatively happy with our holdings
mshatty: If you do a confirm first you have 2 days to cancel and have
the points returned to your FF account
tonyg: Frank, I can't copy the chat
SOS8260456: As long as you did not book the week with an ongoing
search, you can cancel within 24 hours. However, if you do an ongoing
search, there is no time to cancel with no penalty.
tupperinct: Marti, I purchased through the developer first. I didn't
realize there as a resale market out there.
flowergurl: Marti, we have bought developer points before we knew about
resale, but we are happy with our Fairfield vacations.
mshatty: 2. Are there any loopholes for getting to VIP level using the
new Pahio Resorts? Loopholes, none known. Based on preliminary
reports, you will probably be required to purchase new points to convert
weeks.
Carol C: tonyg are you the one supposed to be copying this chat?
mshatty: 3. What is the best way to get a feel for availability in
Fairfield resorts given how bad the online system is? I search for a 1 day
reservation at each resort I am interested. That usually brings up all
available units in a 3 or 4 day window. My results have differed
with a Fri, Sat or Sun request. Then I back out of the system and try
searching for a reservation I know already exists.
tonyg: Yes
mshatty: 4. I think I will be using the strategy of making small
deposits into RCI and trading back into Fairfield resorts. Which resorts is
the strategy most effective with? I care about Hawaii Resorts, Bonnet
Creek, Grand Desert. What size deposits are the best? Which to use
generic or visible?
gophish: One difference since the mergers etc. is that the web site is
worse not better and now really doesn't work much of the time!!!
Carol C: tonyg want me to try to copy bunches of it?
CC_dad: Like Mike, many simply decide to buy a small resale points
package, then they rent from other FF owners because there is no limit
right now to renting points from owners.
Carol C: Maybe we need backup to get this all copied?
mshatty: I make a lot of RCI Weeks exchanges. I search with a strong
trader first and then back down till it disappears. I will put
reservations on hold with the strong trader and then call RCI to have them
substitute a weaker deposit. They have been very helpful with this,
especially if the smaller deposit expires sooner. In my opinion there is no
value to having any deposit higher than a 1 br red. They just do not
pull any better and are a waste of good points. Of course I am not
fussy about insisting on a FF resort. Any well maintained resort in the
area I want on the dates I need works for me. For example this
October I needed a 1 bedroom in Las Vegas for a convention at the Flamingo.
GD was not available but there was a 2 bedroom at the Hilton timeshare
at the Flamingo. Of course I took it using my 1 bedroom red generic.
The small deposits work great for places with a lot of availability.
Orlando, Williamsburg and Branson virtually anytime of the year. It has
been 3 years since I used points to go to Vegas and I am there every
year. 3 years ago I booked the 4 bedroom Pres. At GD. I have never
seen Bonnet Creek come up. I have never searched for Hawaii.
Glitter: Mike can publish his Q & As separately later?
CC_dad: Mike - you need to slow down a bit, even seasoned folks can't
always keep up.
bigfrank: I am coping it.
mshatty: Yes, I can
mshatty: Sorry
Carol C: OK good, Frank and tonyg are copying it and Mike has the
entire transcript of prior Q & As.
mshatty: GS=Grand Desert
Carol C: Mike, give us a warning when the prepared part is done with so
we can gather our energy.
katiemack: mike are you the one who makes RCI trades with the pts or
Tom? I am lost as to who is answering
mshatty: Just a little bit more, 7 questions to go
mshatty: These answers are from Tom C
katiemack: ok
Marti: I was at Bonnet Creek when it first open
Carol C: Where is Bonnet Creek?
gophish: I agree that I would not put more than a 1BR red in RCI as it
seems that color counts more than size but I have found out the hard
way that not all reds are equal. My most recent deposit is a Williamsburg
1BR red and it is not nearly as good a trader as the 1BR red I have
that is Grand Desert.
BocaBum99: Orlando
canthon: at bonnet creek on an RCI deposit
tcornel: Making a full points reservation is equivalent to buying
retail. Using the RCI Weeks system allows trading up and leveraging your
one deed into multiple reservations
Marti: I seen the Penthouse Units in the first building - Very Nice
CC_dad: BC is in Orlando - I was there opening weekend too.
mshatty: 5. Which FF/Wyn resort gives the best bang for the buck if one
buys a resale fixed week intending to convert it to FF points? Also
what would be the approximate fee charged by FF/Wyn to convert? I like
Sea Garden 231k’s. Kingsgate 238k or 203k. Most of the Glade prime
weeks. Some of the Bay POA’s. These resorts will have fees and taxes at
3.35 a thousand or less…..some are 3.03 including the FSP assessment.
When I get these I usually keep them although I will sell off some if I
have too heavy of a concentration in them. After all I can make 3.00 a
thousand just by selling off the current years usage. For example if
a Sea Garden 231k week costs 6000 and one can make 3.00 selling off the
points it works out to around a 11% return.
bigfrank: Guys wait
Carol C: Wait Mike!
bigfrank: I need to copy and I can't
BoardGirl: Where are these resorts?
Carol C: Frank just dropped his cigar!
Marti: Went on the Armed Forces Vacation Club program the week before
Christmas
bigfrank: Please stop posting
Carol C: Why is somebody posting in bold all the time?
bigfrank: Please stop posting
Carol C: Can we have some order here please?
tcornel: SEa Garden is in Pompano Beach, Kingsgate is in Williamsburg,
Glade is in Tennessee, Bay is in Arkansas
Carol C: Give Frank a moment to gather his copying up.
bigfrank: Please stop posting you are losing the chat
Carol C: Frank let us know when to start up again.
ArtsieAng: :bed:
bigfrank: Please stop posting or there will not be any saved chat
bigfrank: Ok next time just give me 10 sec when I say hold
bigfrank: Begin
katiemack: we can't we are all ADD
mshatty: FF charges $2395 to convert the first week and $995 a week for
each week after that. Not all Fairfield fixed weeks are convertible to
points. Before buying a Fairfield fixed week, get the contract number
and contact Fairfield’s Titling and Deeding department to find out how
many points the week is worth. If 0 points, you cannot convert it.
There are certain resorts which Fairfield will not convert weeks, e.g.,
Wisconsin Dells at Tamarack, Shawnee and others.
Carol C: :welcomeback:
tcornel: Plus Partners comes with a conversion package
Carol C: Tom what does that mean?
canthon: do the weeks you refer to above as good for converting sell in
the .01 to .03 price range
Carol C: What's Plus Partners and what is a conversion package?
Marti: FF charges $2395 to convert the first week
BocaBum99: RCI Points
Marti: and $995 a week for each week after that
tcornel: The lower the maintenance fee rate the higher the selling
price of the converted week in the resale market place.
katiemack: i am trying to understand the math for 3.35 per 1000...on a
228K pts what is the total fee?
Sydney: No bold please.
mshatty: Plus Partners is an account attribute that allows you access
to RCI Points, but is NOT a r
mshatty: NOT a RCI Points account
tcornel: Conversion is when an owner pays FF to accept a permanent
assignment of the fixed week in exchange for an annual allotment of points
katiemack: so the 3.35 is conversion?
mshatty: You can use Plus Partners to purchase other retail items that
are available to RCI Points like airfare, hotels, etc
Carol C: Somebody has their bold key locked up.
tcornel: Take the total maitnenance of a unit and divide by the # of
points it has to get a rate.Comment
-
Chat Transcript, Part 2
Jya-Ning: No 3.35 is the mf per 1k
mshatty: $3.35 is the MF plus the FSP fee (FF program fee) per 1,000
points
BocaBum99: and you need to add the FSP fee as well.
bigfrank: OK Hold 10 sec
tcornel: That rate would include the FSP fee
bigfrank: OK go
katiemack: so it would be around 680 for a 200K in fees?
tcornel: A Sea Garden 231k deed has fees/tax/FSP of 779.13.
779.13/231=3.37
katiemack: TY
mshatty: 6. We've considered buying FF but we've been put off by what
seems to be an INCREDIBLY complicated point system. Is there anywhere I
could see a simple, yet realistic overview of how FF points can really
be used? (I'm a member of the FF Yahoo group and I find that even more
confusing, btw.) Actually the best source for a clear explanation is
the Directory. It is clear, concise and contains accurate information.
Next is the Yahoo Group. The Yahoo Group and its members are great
sources for finding those things that one can do that are more beneficial
than what the directory provides. For example if one books points due
to expire shortly and then cancels the reservation many times the
expiration will be later effectively giving more time to use the points.
Or renting one’s ownership from FF within the 90 day window at the $5
rate and then canceling the reservation effectively doubles your point
total at a below market rate.
mshatty: 7. Any news on Shawnee in Pennsylvania? What are FF's plans
for that resort? I do not have any knowledge of the plans for that
resort.
katiemack: and there is no fee for that original booking which you
cancel later?
tcornel: It costs a reservation transaction
CC_dad: This (6) is confusing to me even as a veteran.
mshatty: 8. Which resort has the lowest maint fees for a fixed week
(with high points)? See # 5.
katiemack: deduction of pts or $$
katiemack: res fee?
BoardGirl: #5 is gone
Carol C: Anybody remember what #5 was?
tcornel: Lets say one has 77k due to expire in a month. Make a
reservation for the 77k and call back the next day and cancel it. Many times
the new exp date of the points will be extended out 6 months!
mshatty: Sorry. That was the one about Sea Gardens, and other low MF
resorts
katiemack: what is the transaction cost? in dollars or pts?
BocaBum99: That's a cool loophole.
Carol C: Tom, good tip about the 77K! Thanks!
tcornel: 25
tcornel: Sometimes it does not work though
mshatty: Katie if you have no free transactions left, it's $25
canthon: to cancel does that take a reservation transaction
mshatty: 9. Do you think it is worth buying points from Wyndham to get
VIP (or VIP gold)? If yes, then what is the cheapest way to do that I
do not believe there is any way to economically justify a developer
purchase to receive VIP or VIP Gold. There are smart ways to obtain VIP
status without having to purchase ALL retail points. Use of RCI weeks
through Fairfield’s PIC program can bring your dollar cost average way
down.
katiemack: thanks mike
Jya-Ning: no cancel does not cost reservation transaction
canthon: thanks
CC_dad: Jya-Ning - I think the answer is yes!
TANolin: What is Fairfield's PIC program?
katiemack: but the reservation is good only during the one year? so I
don't get the six month extension
Jya-Ning: can not be, I am not VIP, so I tracking my transactions
Jya-Ning: either that, or the VC really like me
tcornel: Katie....no guarantee on 6 months but I have seen it extend
past the use year. When it works it is a true extention
katiemack: ok
mshatty: PIC = Personal Interval Choice, it allows you to use a non-FF
resort and RCI affiliated to deposit with RCI/FF and get FF points.
You get credit for the points towards VIP but you elect whether to
deposit it for FF pionts
bigfrank: Hold
bigfrank: Ok
mshatty: 10. Having paid to move up to Plus Partners... the benefits
seem to have diminished... Cruises, cars, air all extremely overpriced
and the only decent benefit.. RCI Nightly Stays is now open to all FSP
members... What is the future for the Plus Partners program? Plus
Partners was never intended to be a good value for using the points. It is
merely another way to use them up. Points are best used for lodging.
If one thinks about the process FF has to use to buy say, a rental car.
They take the points out of your account, use them to book vacation
lodging and then turns them over to the rental division to rent. They
take the proceeds from the rental and use the cash to give to the car
rental company. That is adding at least one markup, perhaps 2.
mshatty: Just 2 more
Carol C: Jya-Ning...you are very likeable!
mshatty: Sorry, this is the last advance question
mshatty: 11. What is the future relationship between El Cid and
FF/Wyn...or are their days in partnership numbered? I would not know.
BocaBum99: I own at El Cid.
CC_dad: Jya-Ning is correct! Only certain things use Resevation
transactions - page 10.
mshatty: Tom do you have anything you want to post before opening the
floor for any questions. Other FF owners, please join in and help
BocaBum99: El Cid has a separate toll free number you call to book
reservations.
BocaBum99: And, a separate organization that handles transfers.
tcornel: Just to say that I maintain a user group on Yahoo
farifieldresales.
mshatty: If you buy El Cid, it will take a long time to have the
ownership transferred into your name
mshatty: El Cid resale that is
katiemack: what would an initial startup cost be for a newbie, given
ideal package of cost/pts
Carol C: Tom give folks your email addy so they can contact you to join
your yahoo group!
mshatty: OK, ask any questions you wnat
tcornel: bigtommy99@hotmail.com
BocaBum99: It took me 8 months. I will never do it again. I will keep
it until it expires rathre than go thorugh that nose bleed again.
SOS8260456: Tom's group is separate from the big Fairfield Yahoo group.
Tom can you post the address?
canthon: RCI nightly stays are open for all FSP members?
tcornel: shoot me an email and I will send a link
CC_dad: While I have not dealt with Tom on any transactions, he's
highly recommended by many in the Yahoo Group.
mshatty: Katie, if you want a 1BR, a good range of points would be 105k
to 154k; 2BR, 154k to 300k
TANolin: Tom - are you willing to share a template of the spreadsheet
that you use to track points?
Carol C: Tom I have a question. How do you think it will work with
WorldMark and FF/Wyn?
katiemack: price?
mshatty: canthon, yes RCI Weeks can use RCI Nightly Stays, but you pay
cash instead of FF points
mshatty: $1,000 to $5000
tcornel: I can post a template of the spreadsheet. Very simple format
canthon: where do I go?
mshatty: RCI website
CC_dad: e.g. 1 to 3 cents per point.
BoardGirl: how many resorts in the network?
BocaBum99: Is there any truth to the rumor that Wyn will start an ROFR
program?
Carol C: With Fairfield now Wyndham, will WorldMark soon be part of
that trading system?
tcornel: I think that is just a rumor. Palm Aire had one in the 90's
and then rescinded it
TANolin: Does anyone know why all the resorts do not show up on the
online reservation system for FF?
Glitter: This system seems pretty complicated to me. What do you think
the learning curve would be, for a timeshare addict?
SOS8260456: If you join Tom's yahoo group, he emails you contracts that
he has for sale and I am sure if you let him know what you are looking
for, he can help you out.
CC_dad: There are 50 plus resorts in the FF system - some are
affiliate or associate resorts and available inventory is limited.
BocaBum99: I am a big WM owner myself. And today, there are a few
resorts where we can book FF resorts. WM says they will be expanding it
through a network called TEN.
mshatty: All resorts, f
mshatty: All resorts, FF, associates, affiliated, Outridgger, 91
resorts
tcornel: One year to learn most things. 2 years to master it. Once
you master it you get a big bang for your buck
BocaBum99: What is the biggest bang for buck? trading back into FF
resorts?
Sydney: I'm also interested in the answer to Carol's ? re: Worldmark.
tcornel: Using RCI Weeks and trading up. A blue studio 28000 point
deposit will get a 2 bedroom summer in Orlando
basham: Glitter, and even after that you still learn things. the
cancellation thing tonight for me.
bmg42: I'm on the Discovery plan and am probably going to buy, but I
realize I should be negotiating with FF. What should I insist on, and
what should I shoot for?
mshatty: 28k back into a FF Hawaii resort; RCI 45 days, 28k for any
resort
katiemack: why not just rent that 2 BR ?
katiemack: summer orlando?
CC_dad: You don't have to buy points to try out FF. Some VIP owners
are willing to rent out reservations. But please expect to pay an up
front rental fee.
tcornel: Disney when school is out.
SOS8260456: BMG42, just because you have the Discovery plan doesn't
mean you need to lock yourself into buying from FF
BoardGirl: Are there fees to make the reservation in a friend's name?
tcornel: Clarification....not Disney reosrts, orlando area
hooknslice19: "Discovery Plan" ?????
bmg42: Agreed, but if I do, I get to use the money I've paid already as
part of the payment
Carol C: :hi:
mshatty: Discovery plan = a try out 2 yr plan; lock in price deal
bookworm: How far ahead should you try to book weeks through RCI to get
something with the low number of points (eg. 28K)?
BocaBum99: yeah, but you are applying them to overpirced points.
tcornel: The math on the discovery equity is terrible.
CC_dad: BMG42 - I would try to see if you can buy resale FF fixed weeks
that they will convert and count towards VIP. Or work to find a
proeprty to PIC. 3Br Red RCI week - if FF approves it, PICs for 254K points
each year.
bmg42: Is W going to curtail the OPIC program?
BocaBum99: What FF Fixed weeks will count toward VIP?
BocaBum99: when converted?
bmg42: PIC
Carol C: CC-dad...so you're saying some converted weeks can count
toward VIP?
tcornel: For prime resorts look for 2 years out. For others virtually
anytime
SOS8260456: The have limited the PIC program recently. It went from
being able to do unlimited PICs to being able to only do 2 PICs
mshatty: Boca, it depends on the sales office. Some have said if you
bought week resale, they would allow count towards VIP, others have had
it counted towards VIP
mshatty: Some say no, some yes
BocaBum99: Give me ONE that will say yes and I'll buy from them.
tcornel: Negotiate, negotiate and when done negotiate again
CC_dad: Carol - officially NO. But if they really want the $$, they
may sign off on this. You must get VIP guaranteed in writing so that if
they renege, you can sue to get your money back.
SOS8260456: and there have been rumors that they might cut it down to
only 1 or even making the member purchase an equal number of points, so
if you pic a 254,000 point week, you need to purchase 254,000 points
fromFF
mshatty: On the PIC, there's a FF owner with 14,000,000 points and she
had multiple PIC weeks to get her points
BocaBum99: I want to get to Gold VIP, but I don't want to spend more
than $10k
bmg42: OK, but give me some ideas on stuff I haven't thought of
jailives: which resort sells the cheapest points?
Carol C: CC-dad, if you sue can you get pain and suffering?
mshatty: Boca, you will need, 2 non FF RCI weeks, 3BR and a small
purchase
CC_dad: Fixed week resorts have the best values. Tom C has some of
these - Sea Gardens in FL is one.
mshatty: No FF resort sells cheap points
gophish: Boca you have to be careful even if they tell you it will
count and they get it set up that way because FF has taken some VIP
benefits away from some resale purchasers even after the fact.
katiemack: :hi: resortome
jgrffn: What is the minimum points you have to buy also with the PIC
program?
jailives: I agree but the lowest amongst them
bigfrank: Robert you made it in
RESORT2ME: Thanks Frank
tcornel: I currently own about 9,000,000 points. Virtually all are
conversions. I would not own a udi deed as the fees are too high for me.
CC_dad: Some say PIC is at least 77K or equal to PIC property you trade
in.
SOS8260456: I am not up to date on the PIC minimums, but it used to be
77,000 for one and 126,000 for 2 with some sales offices being able to
do 2 PICs for a 77,000 point purchase
bigfrank: Still one that could not make it in,
Jya-Ning: use to be that 1st PIC is 77k 2nd is 42K, now it is upto sale
office
timesharer: I was told during an update at Grand Desert that Fairfield
will no longer equity trade a resale. Has anyone else heard this and
do you think it's true at all FF locations?
CC_dad: Or 154K Every Other Year is a cheaper cost than 77K every year
Carol C: Hi Joan!
TANolin: What do you mean by 'equity trade a resale'?
Jya-Ning: about equity trade, yes, that is what I heard also.
mshatty: TSer, don't know. Whatever your agreement, needs to be in
writing in the contract and subject to approval by FF
CC_dad: Some say resale equity trades are going out - but they may take
it on the newest resorts - Waikiki and/or the Inn at Glacier ?? in
Wisconsin
bigfrank: Joan are you ron and Joan that I just emailed?
CC_dad: Equity trades of UDI or Fixed Week contracts require a 105K
developer purchase.
Jya-Ning: equity trade means you give up all your points in exchange
toward buying new points.
SOS8260456: I have heard that also about equity trades. I have heard
that they added a field that was not there before and this is what is
making it easy for them to determine resale. Sometimes that code is not
coded resale even if you have purchased resale so it will get by
timesharer: equity trade: Fairfield buys back the old deed giving
purchase credit for the amount paid by the original owner
Joan-OH: Nope, wrong Joan. I'm in Tom's backyard. :-)
mshatty: Hi Stan
bigfrank: They are from OH also
Jya-Ning: hi Stan
Carol C: :hi:
SOS8260456: Thank you Tom for taking time to do this chat. Especially
right after the end of tax season.
tcornel: It amazes me that by offering a few hundred a year in
incentives (VIP) that people will spend tens of thousands of $ to obtain it.
will someone please explain to me how they can economically justify any
type of developer purchase?
Carol C: Yes, thank you so much Tom.
RESORT2ME: Was looking to be here. Java had to be upgraded. Then had to
play Taxi while it downloded. Got right in when I got home. Thanks
Frank. Was getting discussed over this.
acesneights: hi
BocaBum99: I've wanted it for 3 years and I can't justify it.
tcornel: hi stan
BocaBum99: You have to create a rental business to work down the equity
loss.
Jya-Ning: Tom you can go back to Yahoo group and look at Ben Roy's post
bmg42: So how difficult are they going to make it for resale
purchasers?
BocaBum99: It wasn't worth it.
CC_dad: Fixed weeks used to have the Resale code default to No. Now
they default to Yes. So It's harder to slip these by. I heard all
paperwork on Fixed Week deed transfer go through a central location.
Carol C: Tom, if you were to buy a UDI, which gives the most bang for
the buck?
tcornel: They go thru the TOA section in Las Vegas on Charleston
Boulevard. All transfers are done there
Jya-Ning: Carol El Cid
Carol C: Thanks Jya-Ning!
BocaBum99: What is the single biggest loophole in FF?
Jya-Ning: Bmg, actually, thet treat resell purchase pretty nice, the
only one has problem is the sales
acesneights: but El Cid isn'treally FF
jailives: I think Kingsgate UDI has low costs ... but has Assessment
for 2007 and 2008
bmg42: explain, Jya-Ning
acesneights: you might find you are completely on your own one year
Carol C: Tom are you still here with us?
tcornel: Sure am.
mshatty: Not loophole, but biggest advantage is making small point
deposits into RCI for upgraded units at GC resorts
Carol C: Tom what time do you need to leave? Are you bored with us yet?
Marti: The discussion center is the heart of the Chat
Carol C: :hi:
Marti: Thanks Mike and Tom
tcornel: Almost all resorts will eventually have an assessment for one
thing or another. In the case of Kingsgate that resort will have new
interiors, granite counters, etc.
BocaBum99: I own 308000 El Cid and my MF + FSP is $917.60
Jya-Ning: bmg - there is no difference when you call VC to make
reservation, the only issue is when you talk to sale, they try to scare you
that your resell points will soon be no good
acesneights: Kingsgate convert red 3Br is probably most bang of all
hooknslice19: When this chat is done, where do we go to find the
transcript?
bmg42: and can they eventually make good on that threat?
acesneights: no
CC_dad: And Boca can rent these out at about $7/thousand vs. a cost of
$3/thousand.
Jya-Ning: They can take away your VIP if you get it from resell
Carol C: Tom, of your 9 million pt holdings, what are your 3 top faves
for bang for the buck & resort quality?
tcornel: I just purchased a couple 238k fixed weeks at Kingsgate to
convert. I am not worried about the 338 assessment as that will be made
up almost immediately
canthon: has anyone used any of the independents for trading? Which
ones and do any of them has special requirements?
mshatty: I have used SFX; made 2 deposits with them; got their 2007
Bonus weeks
Jya-Ning: yes, DAE
mshatty: Others have used TPI.
acesneights: that's a whole discussion by itself
mshatty: I have a thread posted in the Fairfield HOA forum on how to
deposit with SFX
tcornel: Sea Garden 231k studio lockouts (3.03 a thousand incl FSP),
Kingsgate 238k, same, Glade Wellington Place, Bay Cliffside. Please
note that none are udi
acesneights: UDI are subject to huge jumps
acesneights: Altlantic City went up $1.25/K in one year
tcornel: Actually udi forces you to absorb part of the costs of the
blue season. Converted fixed does not
mshatty: It can be hard to find the really really converted low MF
fixed weeks as people who own them usually hold onto them
Carol C: Thanks Tom for the insight on your faves!
canthon: Once it is converted does it stay converted?
tcornel: My personal inventory has an average maintenance cost of about
3.20 a thousand including the FSP fees and Florida taxes
Jya-Ning: Wow
Carol C: News Flash: Sanjaya is going home tonight.
mshatty: The conversion stays converted unless you don't pay MF and FSP
fees; you can elect to cancel the agreement and revert to a plain fixed
week
tcornel: The conversions are binding on FF but can be revoked by the
owner
canthon: do they transfer as part of a resale?
mshatty: Converted weeks to points transfer on resale
canthon: thanks
tcornel: the conversion agreements "run with the land"
acesneights: actually they run with the contract to be more exact
tcornel: The follow the deed
acesneights: If you have a multiweek contract they follow the contract
canthon: how much does it cost to convert if it hasn't already been
done
acesneights: unless you want to spend 6 months trying to get them to
split the contract
tcornel: You can always split the contract to follow the weeks
acesneights: it's a royal pain
SOS8260456: It has only taken us about a week,never more than 2 to
split a contract
tcornel: converion is 2395 for the first week and 995 for each one done
at the same time'
mshatty: Cost to convert only $2395 first week, $995 second week if
done at same time; depending on FF sale office it may require a retail
purchase
acesneights: It's been 3 years for one two week contarct for me, I've
given up
mshatty: Stan you need to call Tom or Lisa
tcornel: Splitting really depends on the resort
bigfrank: Just so you guys know I was saving the chat every 4 min. I
had spoken to Ken this evening and he mentioned he would not be able to
make most of it. I forgot to ask if he turned on the chat log when we
spoke. Well I guess I was going nuts coping for nothing. Ken just called
he is on his way home and he turned the log on last night. So we do
have the entire chat saved.:clap:
tcornel: I did an ocean ridge split in a couple weeks. A Bay split
took 3 months
acesneights: I don't plan to split the weeks, they're two 2BR+ Reds
SOS8260456: If done with a retail purchase, then the cost should should
only be $189 a week, and I think they currently require a 63,000 point
purchase for each week converted. Not really worth it.
acesneights: Harbour has 9 HOAs
Carol C: acenights where are you trying to split a contract?
acesneights: Harbour
tcornel: Vri or ff ?
acesneights: It's not worth the agony
mshatty: Tom, would you speak briefly about how MF can be different
within each resort, multiple sections of the same resort?
acesneights: they were VRI
canthon: so the other way to buy one of these (if you can find it) is
already converted
acesneights: Harbour has 9 hoas 4 ff, 5 vri
SOS8260456: Stan, ours was at Harbour, but I forget which POA, I can
have my husband look up the name and number and email it to you.
mshatty: Yes, much much easier
acesneights: I'm more afraid they'll screw it up and I'll have one
converted and one fixed or they'll want $1395 difference between 1st and
2nd week
wackymother: Can I ask, are there any fixed summer weeks at any FF in
Newport? Or are they all points only?
tcornel: As each section of a resort was developed and sold out it has
its own board established to manage. Each section may have a different
configuration of unit size also. Over time each board makes its own
decisions on managing and fees. T
acesneights: The turnover at FF for the 3 years is horrendous
Carol C: Hi Joan!
Sydney: welcome Joan! YOu finally made it.
bigfrank: Yes Joan made it
acesneights: Look at Ocean Ridge Sea Palms has a $1000 SA
SOS8260456: Summer in Newport is all fixed weeks unless they have been
converted to points
mshatty: wacky, I believe that most weeks at the Newport resorts are
still fixed weeks.
Jya-Ning: There are fixed week at RI, not all of them are converted
wackymother: Thank you, sorry to interrupt the conversion discussion.
tcornel: On board may elect to defer maintenance and another may do
proper reserves. that alone makes a big difference
bigfrank: We now had everyone that wanted in here in. :clap:
acesneights: and FF allows reservations for all the weeks, converted or
not
Carol C: Yeah I was interested in Ocean Ridge but don't like to pay
SA's.
RESORT2ME: Lost my RCI membership awhile back through renting out
exchanged week.
basham: Stan, I doubt that now.
tcornel: Carol. Why the objection to SA's?
Glitter: OUCH
acesneights: You can't compete with the Mafiia
mshatty: Some Ocean Ridge hoa's have some of the highest MF in the
system
Carol C: Tom does it seem UDI's that are coastal are getting pricier
due to insurance & costs due to seashore wear & tear like mold etc?
acesneights: I hope they've fixed it
RESORT2ME: was told I could be RCI again if I gought lots of points.
acesneights: I'm a glutton for punishment got 2 3 BR at LW this summer
Carol C: What's LW?
tcornel: So establish a LLC and buy a deed in it. I bet you would get
an RCI membership
acesneights: Long Wharf
Carol C: Oh I thought it was Lawrence Welk.
basham: They have 6 chairs in the dinning room.
Jya-Ning: Stan did they pay you back?
tcornel: Costal timeshares will generally have higher fees due to
insurance, salt water penetration and sand
wackymother: Aces, you bought 2 3br or you reserved them with points?
Carol C: Who else here owns more than 1 million pts besides Tom C?
Sydney: Tom, if you can, please comment on Carol's earlier question re:
Worldmark and Fairfield.
RESORT2ME: LLC?
timesharer: i have about 1.3M
acesneights: I reserved them again this summer
Jya-Ning: limited liability company
tcornel: I don't know anything about Worldmark. Sorry
wackymother: How many points was that?
SOS8260456: I do, I have about 1.8 million altogether.
BocaBum99: What do you want to know about WM?
Carol C: Tom have you heard rumors that Woldmark might one day become
part of FF/Wyn? That's a sort of rumor going around.
BocaBum99: It can't happen.
Carol C: Oops, O meant to say WorldMark.
Carol C: Boca why couldn't it happen?
BocaBum99: WorldMark the Club is a separate entity owned by owners
tcornel: their computer systems are apples and oranges. According to
the TOA manage he just cannot see it happening
BocaBum99: WorldMark by Wyndham is the resort developer
Carol C: Oh, maybe that's the confusion then. Thanks boca!
BocaBum99: It is possible, but not probable that WorldMark could sever
ties with WorldMark by Wyndham.
acesneights: WM by WYN sounds more classy than WM by FF
Jya-Ning: Boca, actually, I thought about it, and it can happen, but in
a reverse way, that is FF resort vote to joint WM in exchnage of WM
credit
mshatty: As to WM and FF; this year FF added several WM resorts to its
resorts that can now be reserved with FF points. There were also a few
but probably 6 to 7 new (different) WM resorts were added for
availability to FF owners. What's unknown at this time is the number of units
at each WM resort. Historically only 1 or 2 units per week at the WM
resorts were available to FF owners
Sydney: Also, will Fairfield have access to Worldmark resorts and vice
versa?
BocaBum99: Jya-Ning, I am pretty sure the WM bylaws prevent it.
CC_dad: Sydney - Yes
BocaBum99: Sydney, they do today in the form of affliation agreements.
BocaBum99: For a few units in a few resorts.
Sydney: yes, only a few.
Jya-Ning: Boca, it is no difference then TW develope a resort and bring
it to WM in exchange x credit
BocaBum99: WorldMark is creating the TEN network which is an enhanced
internal exchange network.
Carol C: We should have a WorldMark chat next time.
BocaBum99: Oh, I see. That is already happening. For example. WM
owns 2 floors of Ocean walk.
mshatty: TEN is like a Preferred STatus Exchange
BocaBum99: Something like that.
Carol C: Where is Ocean Walk?
BocaBum99: Daytona Beach
mshatty: Daytona Beach
Carol C: Thank you both.
BocaBum99: Jinx you owe me a coke
mshatty: OK
acesneights: WM Kihei is 1 unit each week
Carol C: Tom you still here?
tcornel: Yep
BocaBum99: Waikiki has I think 2 units.
BocaBum99: in WM
Carol C: Did you get all your taxes filed Tom?
CC_dad: Actually - It's two. I booked one and there was another
available.
Jya-Ning: The problem is they never annouce when they put in the WM
inventory in FF, like it is a secret
tcornel: We finished Monday and the office was closed on Tuesday
mshatty: I got the one unit at The Canadian for spring break; tried to
rent it; no luck
BocaBum99: Same with WM, but the wmowners forum has insiders that
report on it.
Carol C: Congrats Tom, and thanks for taking time out to chat with us
during such a busy week for you! :clap:
Jya-Ning: Yes, I don't understand why they sign all these affliate
agreement and don't want anyone know
Carol C: Does anyone who hasn't asked a question yet want to ask Tom
something?
BocaBum99: Thanks Tom. That was great. You, too, Mike.
tcornel: I want to thank everyone for putting up with me. Fee free to
email with questions. bigtommy99@hotmail.com Good night
Jya-Ning: Thanks Tom
Sydney: Thank you Tom, Mike & Carol!
mshatty: Thanks Tom
timesharer: thanks tom
TANolin: Thanks Tom
jgrffn: Thanks Tom
hooknslice19: Thanks, Tom
SOS8260456: Thanks Tom, Mike and Carol! I think it was a great chat!
Summit1231: Thanks Tom, picked up a several good pointers tonight, Bob
Carol C: :drive: Have a safe drive home everyone!
ArtsieAng: Thanks, Tom & Mike. We all appreciate your time, and
expertise!
SOS8260456: and thanks to the people who recorded this chat for our
future reference!
canthon: good info Thanks
bigfrank: Thank you Tom
flowergurl: Thanks, Tom
gophish: Thanks Tom, Mike and Carol and also all that contributed
nicechat
Arkansas Winger: Is a transcript of the chat going to be posted? I had
to miss a lot of it.
RESORT2ME: Thanks all. Where do I learn about LLC? Not that I need
RCI.
basham: Goodnight Jiohn Boy.
Carol C: So, did anybody here have money riding on Sanjaya?
Carol C: Just kidding!
ronandjoan: sorry I got on so late, had to upgrade Java, thnaks
everybody
mshatty: OK is it G & A Cafe time?:eat: :bed:
Carol C: Arkansas Winger, yes, chat will be archived.
Arkansas Winger: Thanks
bigfrank: Were all saying bye to Tom but he left a while ago.
ronandjoan: Carol, you did a good job, I'd like the site of the archive
too
mshatty: Frank, how and where should I post the Q&A documents I have?
Carol C: Thanks Joan...wish you had been able to join us early. But I
know you were busy trying to find me a Memorial Day vacation.
tonyg: Rob, perhaps a minor name change with a new address would get by
them. Otherwise, look up LLC on a search engine and hope that you can
set one up without much cost.
mshatty: I can make them .pdf files if necessary
bigfrank: Carol , Mike and Tom did a great god to night lets hear it
:clap:
bigfrank: *choochoo*
SOS8260456: :clap: :clap:
hooknslice19: :clap:
tonyg: :clap:
bigfrank: Thanks for the hard work
RESORT2ME: thank you. have thought of signing everything to the
children
CC_dad: I need to learn how to use these icons in the chat room.
Carol C: The icons are fun CC-dad...and the sound efx too!
bigfrank: Look at the
haywood: thanks!
bigfrank: Hi Sue
CC_dad: Thanks Frank!
tonyg: :new:
Carol C: :eat:
mshatty: How many newbies did we have?
bigfrank: The music note gets the fun stuff
hooknslice19: Me for one!
tonyg: :bed:
jgrffn: :new:
tupperinct: I just joined today.
bigfrank: *evil*
haywood: <---n00b
Carol C: hooknslice...what does your alias mean?
mshatty: hook, glad you could make it
hooknslice19: It's a golf thing
CC_dad: SOS - do you do CPA client individual taxes or on your own?
Arkansas Winger: I consider myself a newbie, just TS for about 6 months
now
mshatty: It means he plays military golf, left, right, left, right
falmouth3: Hi Frank. My first time in a chat room. It took me a
moment to figure out how to post.
bigfrank: Tupperinct welcome to Timeshareforums
jailives: good night & thanks!!!
BocaBum99: I thought it was a Freddie Kruger thing.
SOS8260456: I do almost 350 individual tax returns and about 10
corporate and partnerships
hooknslice19: Tupper - Are you from CT too?
tupperinct: Yes I am
CC_dad: Ouch!
bigfrank: There is a first time for everyone. I recall mine. *evil*
Marti: Any information on the Fairfield Smokey Mountain in TN
Carol C: A hearty welcome to all the newbies! Hope you'll stick around
TS4Ms. Do any of you have ideas for future chats we should have here?
mshatty: Marti, what kind of info are looking for?
tonyg: Well not all CT is under water tonight
CC_dad: Smoky's is a great resort - what do you want to know.
bigfrank: We have a DAE, SFX and Marriott chat coming in the near
future
Marti: What are the units like - Is the resort nice
bigfrank: Not sure about the order yet
Sydney: Tupper & falmouth, our special guest just left.
falmouth3: Looking forward to the SFX. They've made me very happy.
CC_dad: I have a PDF of the resort layout - they are all very nice and
newer!
falmouth3: I just logged in because I thought I'd sneak a peak at a
chat.
ronandjoan: Smoky Mt STILL building too, new rec center is very nice
bigfrank: I have had a lot of requests for Mariott
Carol C: Joan you still here?
ronandjoan: YEP
Carol C: Joan what all FF/Wyn do you own?
Sydney: falmouth3, the transcript will be available later.
Carol C: And Jya-Ning, what FF/Wyn do you own?
hooknslice19: CC_dad - Do you own at Sea Watch? That's the place I am
VERY interested in.
bigfrank: Sea watch in Myrtle Beach?
ronandjoan: 6-8 contracts - I don;t know. we love our variety and get
so angry at salemen - or is the word afriad, when they look at our
listings, leaning back, and thinking how they can RUIN us!!!!!
CC_dad: No - but I've stayed there the last two Easter vacations - with
an overnight each way at the Smoky Mntn resort to/from MI.
hooknslice19: Yes
mshatty: I am closing on a converted Sea Gardens, 231k. You have to
buy in the Falls section for the low MF etc.
bigfrank: I stayed there for 3 nights in a 2 or 3 bedroom 3 years ago
tonyg: Hi Ken
ronandjoan: We stop at Smoky Mts on the way to and from Florida, very
handy
bigfrank: Ken you missed itComment
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