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Timeshares....???

Old 01-23-2007, 09:18 AM
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Default Timeshares....???

.....what's the skinny on timeshares?

I've been considering buying a 1/4 ownership, or a basic 1-2 week, and cant seem to find why in the world this would be a bad investment as my financial advisor told me???

For The 1/4 ownership, you get 13wks a year! 1 wk every month and a bonus floating week. Christmas & Newyears gets rotated every 4 yrs, you cant beat that right???

Id love to hear the pros & cons from some people that have purchased......tips for negociating price,... buying & selling.
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Old 01-23-2007, 09:28 AM
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Default RE: Timeshares....???

You do know the difference between herpes and a timeshare don't you? Some day, some how you may be able to get rid of the timeshare!!!

Seriously, timeshares have come a long way. Marriot and Disney have definitely provided creditability to the industry. As long as you do not view your timeshare as an investment, you probably won't be disappointed. It is generally very difficult to re-sell them for what you originally paid, due to the extraordinarily high sales and marketing expenses associated with timeshare sales. Management expense is also often higher than a straight condo property manager. Never the less, for many it is the right fit.
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Old 01-23-2007, 10:52 AM
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Default Re: Timeshares....???

My mother has one and my father must be rolling in his grave. I really think he's on a rotisserie sometimes over some of the things she's done. She's having fun and I guess that's all that matters.

She has several weeks and loves it. It is in Ireland. She trades with others all the time and currently is heading to Hawaii for a few weeks. I don't understand why she built such a big house for herself. She's always traveling to someplace.
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Old 01-23-2007, 11:33 AM
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I personally think timeshares are poor investments, but if you consider it "vacation money", oh well...
If I were to purchase one, it would be in a very desireable location like Hawaii or Vegas. Back when I considered this you needed a desirable location so you could trade for other locations. Basically, it was structured that you put your week(s) up on the block, but really didn't get to trade until somebody wanted your week(s). Hence the need for a desireable locale.
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Old 01-23-2007, 12:08 PM
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understood.....but the quarter ownership is what is appealing to me. You get 13 weeks, (rotating), with only 3 other owners, allowing all 4 owners 1 wk every month. This seems great to me for a winter playground such as Killington, because, I would use the condo 1wk every month during the winter months, and then rent out the summer weeks or trade summer weeks for Caribbean vacations.......a 1bdrm unit goes for approx 60k, (not sure if its neg. or not). Also there is NO air fair expense to put out to use the property, making it even more financially viable for frequent use....just a nice 5hr drive to a winter paradise!
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Old 01-23-2007, 12:36 PM
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Killington has golf also if that's your bag.
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Old 01-23-2007, 05:14 PM
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Default Re: Timeshares....???

This doesnt sound like a time-share as I understand it. It sounds like you and some friends are buying a condo together as partners, and plan to share it between yourselves.
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Old 01-23-2007, 05:20 PM
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Kamper, it is considered a TS, quarter ownership is more exclusive, but still a form of a TS......the partners COULD be friends or family, but in most cases aren't......just 4 strangers with 1 wk a month all year....ill post the info brochure if I can.....
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Old 01-24-2007, 07:53 AM
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Loon Mtn also has slope side quarter shares run by Marriott. Its called the Mountain Club.
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Old 01-24-2007, 08:51 AM
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loon Mtn? wheres is that?
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Old 01-24-2007, 09:02 AM
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We have Hilton timeshare love it
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Old 01-24-2007, 09:03 AM
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Your financial adviser is right on this one. Do you really have 13 weeks per year to use this thing? Divide the real cost of ownership (purchase price divided by expected usefull life of the time share plus annual ownership costs) by the actual number of days you will be able to use it. Very few people will buy a timeshare after they determine the real cost per night of occupancy.
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Old 01-24-2007, 09:34 AM
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Loon is in Lincoln NH. White Mountians.



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Old 01-24-2007, 11:25 AM
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Victory 1 - 1/24/2007 8:51 AM

loon Mtn? wheres is that?
http://www.mtnclub.com/
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Old 01-24-2007, 12:32 PM
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Kamper - 1/23/2007 5:14 PM

This doesnt sound like a time-share as I understand it. It sounds like you and some friends are buying a condo together as partners, and plan to share it between yourselves.
Some timeshares also expire in 20-50 years. I know Disney's are that way. I though about buying but jsut couldnt get myself to pull the trigger. Concerns were: Sure the place is nice now but how is it going to look in 20 years? The ever-increasing dues/annual fees/taxes/assessments.

Also, TS's are useful for a narrow range of people I think, those who like fancy vacations but need to somehow keep the cost down. Most people either dont have enough $$ to buy a TS, or they have enough $$ to afford a nice vacation or 2 or 3 a year and hence have no use for the TS. Im not super wealthy but I can usually afford a vacation, so why tie myself down?
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Old 01-24-2007, 12:36 PM
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jollymon258 - 1/24/2007 9:03 AM

Do you really have 13 weeks per year to use this thing?
Not really, but you RENT out the weeks you cant/don't/wont use!, this offsets the costs of the timeshare. If you were to finance 65k with 5k down the payment would be somewhere in the neighborhood of $500 per month + fees....these weeks rent anywhere from $150-450 per night! renting a few weeks a year would MORE than pay for that mortgage pymt.


DrJim

so why tie myself down?
The beauty of the deal is that, you don't have to tie yourself down to one vacation spot, you can trade any/all of your weeks with other timeshare owners, ANYWHERE in the world....... If it were me I would USE, the winter weeks at the ski resort, and trade my spring and summer weeks for Caribbean vacation spots, and rent out the remaining weeks to pay for the costs! What am I missing here???
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Old 01-24-2007, 06:20 PM
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Why not form a LLC with 3 other couples and buy a place?
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Old 01-24-2007, 06:28 PM
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coastboater - 1/24/2007 6:20 PM

Why not form a LLC with 3 other couples and buy a place?
not a bad idea.....finding 3 other couples is the difficult part!
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Old 01-24-2007, 07:59 PM
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My mother-in-law has bought about 15 of these things--no kidding, some people collect stamps, she seems to collect time shares. Concerns about what the places will look like and cost in the future are very valid. Ended up turning one back in in Texas just to get out of the annual fees. Lost all up front money on it and was glad to get her out from under it.
The trading is a whole other issue. If you want to go somewhere nice, at the right time of year (Scottsdale Az is wide open in July and August), you'd better be ready and able to make your vacation plans a couple of years in advance..Not my lifestyle
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Old 01-24-2007, 09:42 PM
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Time-shares can be a good investment if you buy RESALE in the resort where you want to be. I have been an owner for over 20 years and wish I never got involved. The maintenance fees go up every year and the resale value of the property does not go up at all. If you are buying multiple weeks, try to buy the property and own something that appreciates. Sure, there are some good ones, but most of us who own weeks would rather sellout.
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