WALK AWAY FROM TIMESHARE

Floating weeks are not so good in Cabo. The resort "gives" weeks for just certain units (not the best units or weeks) to a place like GBS in Miami who handles all the communications with the owners and the doling out the floating weeks. The resort keeps the best weeks for their rental pool, and suggests you go to their facility in Playa if you want a better unit. Quite a rip, but all legal when you buy a floating week. Floating weeks are "as available" . I bought my first - and final - floating week 5 years ago and suffer with it each year.

carries25 wrote:

robertr269 wrote:

Sell it to a ficititious person . the whole 9 yards it will cost you but it will work

I am no attorney, but wouldn't that be criminal, as in fraud?

Why not sell it for a low price? Surely someone will buy it then. Or quit claim it to the association.

roba38 wrote:

carries25 wrote:

robertr269 wrote:

Sell it to a ficititious person . the whole 9 yards it will cost you but it will work

I am no attorney, but wouldn't that be criminal, as in fraud?

Why not sell it for a low price? Surely someone will buy it then. Or quit claim it to the association.

roba38 wrote:

carries25 wrote:

robertr269 wrote:

Sell it to a ficititious person . the whole 9 yards it will cost you but it will work

I am no attorney, but wouldn't that be criminal, as in fraud?

Why not sell it for a low price? Surely someone will buy it then. Or quit claim it to the association.

I have questions about timeshares. I am seriously thinking about buying a timeshare on the beach in my favorite place New Smyrna Beach, Florida. There is a listing on eBay I am thinking about bidding on and the auction ends in less then 24 hours. The cost would be whatever the auction ends at, plus closing cost of about $400.00. It is week 2 for inventory purcpose and floating week 1-52, 2 bedroom, annual mainentance fees are about $425 right now. I have never bought a timeshare before, so I am hesitant to do it. Are these things worth it? There is no way I could stay on the beach for anywhere $425 per year. I could also buy through Redweek for up to $1500 for a 1 bedroom. This is at Islander Beach Resort a very nice place as I have seen it from the outside, while driving by. Can some one please help me to decide. Are these easy to sell if I loose my job, etc and need to get out or am I going to be stuck for the reat of my life? Also, what about RCI, etc. I know nothing about these things, please help!

Thank you,

Andrea

jayjay wrote:

Chuck, I'd be curious to know what he paid for his 12 Marriott platinum weeks and what his yearly maintenance fees are? I can't even imagine :o).

chuckg21 wrote:

In 2004, I met a local resident who lived in the Palm Springs area and wanted a condo in Luguna or Newport Beach to escape the torrid heat of the summer. Rather than pay the $1.5 million for the condo, he purchased 12 weeks in the platinum season at Newport for a fraction of the cost. This is just an example why some people purchase multiple weeks. Chuck

There are actually four owners at Newport Beach who have purchased all 52 weeks at the Marriott Resort! We are on Marco Island and we have sold more 4, 8 and 12 week packages here than any other resort!

ann286 There are actually four owners at Newport Beach who have purchased all 52 weeks at the Marriott Resort! We are on Marco Island and we have sold more 4, 8 and 12 week packages here than any other resort! Call (sales contact deleted here). ==============================================

Just how many free ads are you going post in these RedWeek forums, masquerading as meaningful replies to forum postings?

If you want to take out some commercial advertising, go BUY some advertising space. These forums are supposed to be for discussion, not for thinly veiled and unsolicited commercial advertising....

ken1193

ann286 wrote:

There are actually four owners at Newport Beach who have purchased all 52 weeks at the Marriott Resort! We are on Marco Island and we have sold more 4, 8 and 12 week packages here than any other resort! Call (sales contact deleted here). ==============================================

Just how many free ads are you going post in these RedWeek forums, masquerading as meaningful replies to forum postings?

If you want to take out some commercial advertising, go BUY some advertising space. These forums are supposed to be for discussion, not for thinly veiled and unsolicited commercial advertising....

We didn't realize we couldn't advertise. We just wanted to offee the the truth. By not allowing one to post a number or email to investigate the truth, it allows others just sit around brewing all the negativity and making people believe that timesharing is wrong and doesn't work. It is a shame. You all hide behind these ficticiuous names and talk about all the bad! It really is a shame to see so much negativity on something that can change peoples lives forever!

ann286 wrote:

We didn't realize we couldn't advertise. We just wanted to offee the the truth. By not allowing one to post a number or email to investigate the truth, it allows others just sit around brewing all the negativity and making people believe that timesharing is wrong and doesn't work. It is a shame. You all hide behind these ficticiuous names and talk about all the bad! It really is a shame to see so much negativity on something that can change peoples lives forever!

Who exactly is "you all" ??? Personally, I don't care to be pigeon holed. Moreover, I've been a very satisfied timeshare owner (of multiple weeks) for nearly 25 years now (probably about as long as you've even been alive, I'd venture to guess). Accordingly, please spare me (and others here) the disrespectful "one size fits all" summary judgement and /or putting words in others' mouths about timesharing being "wrong", or "negativity", or your own self serving nonsense about "changing lives forever". Please don't insult our intelligence --- and if you want to advertise, then BUY some advertising space to peddle your sales pitch elsewhere other than these discussion forums.

Salesperson ann286 offers: >> It seems there is something more constructive you could do for society versus monitoring a forum for timeshare owners. << ===============================================

Actually, as a satisfied timeshare owner of numerous weeks at several different resorts, I regularly participate in forum discussions (and unlike you, I'm not trying to SELL anything). I offer the benefit of my experiences from 25 years of timeshare ownership and use; advice which folks are free to adopt or ignore however they may see fit. I've helped numerous people avoid some very expensive mistakes, reverse bad purchase decisions already made, and make better informed purchase evaluations and choices. Numerous people in these forums have openly expressed their gratitude for my input. I haven't seen anyone thanking YOU for trying to peddle your product here, however.

If I ever feel a need for life management advice from a timeshare salesperson, I'll certainly keep you in mind. Don't wait by the phone or hold your breath though....

miriamj2 wrote:

jons29 wrote:

miriamj2 wrote:

We bought a 4- bedroom unit at Orlando but unfortunately the resort doesn't have the facility to place for rent via the Resort management. I wish they did because sometimes we do not use all weeks and would like to rent. But thank you jons29 for the tip, I shall bring the issue with the resort itself as I have learned through friends and this forum that there are resorts that provide these facilities. We do sometimes feel like walking away from timeshares too!!! prices keep going up and up from the resort, the exchange company!!!

Personally I would recommend trying to rent units yourself. Management usually takes a decent fee. Try listing on Redweek and/or other sites, along with a local newspaper ad, depending on your local. Just don't wait until the last minute and Sunday's are usually best.

Thank you for your advice. We are not Redweek members yet and like some of the testimonials I have read, we have not been that lucky to receive emails from people wanting to exchange the week we have posted; we are taking the free exchange promotion which has been extended until March 18. We had a bad experience with people claiming that they can rent/exchange our units, once they got the money, we never heard from them, they seemed so genuine, they made fools of us. We are members of Interval and sometimes we do not get our choices, we compromise most of the time. Should we become members of Redweek? your opinions are welcome

In my opinion, I'd definitely say yes, become a Redweek member, and list your unwanted week(s) for rent on Redweek, not with your resort, even if they have that program.

I own three weeks at a Marriott resort in HIlton Head, and have rented two of the three weeks for the past three years using Redweek, and occupied the third week myself. I've rented the two weeks for enough to more than pay the annual maintenance fees on my three weeks. The one year I gave one of my weeks to Marriott to rent, I recieved only $800. for the week. I know they rented it for much more money. When I rent the weeks myself using Redweek, I recieve $1800. for each week.

Why do I rent these weeks instead of trading them or using all three weeks? Because I still work, and my vacation time is too short to use all three weeks. When I retire we will use them, or trade to go to other resorts.

Redweek is inexpensive, and if you post your weeks early, they'll likely rent. I posted weeks reserved for over Memorial Day in January and I rented them in February this year, so the Redweek fee is well worth it to me.

Good luck,

Kathi

kathi32 wrote:

miriamj2 wrote:

jons29 wrote:

miriamj2 wrote:

We bought a 4- bedroom unit at Orlando but unfortunately the resort doesn't have the facility to place for rent via the Resort management. I wish they did because sometimes we do not use all weeks and would like to rent. But thank you jons29 for the tip, I shall bring the issue with the resort itself as I have learned through friends and this forum that there are resorts that provide these facilities. We do sometimes feel like walking away from timeshares too!!! prices keep going up and up from the resort, the exchange company!!!

Personally I would recommend trying to rent units yourself. Management usually takes a decent fee. Try listing on Redweek and/or other sites, along with a local newspaper ad, depending on your local. Just don't wait until the last minute and Sunday's are usually best.

Thank you for your advice. We are not Redweek members yet and like some of the testimonials I have read, we have not been that lucky to receive emails from people wanting to exchange the week we have posted; we are taking the free exchange promotion which has been extended until March 18. We had a bad experience with people claiming that they can rent/exchange our units, once they got the money, we never heard from them, they seemed so genuine, they made fools of us. We are members of Interval and sometimes we do not get our choices, we compromise most of the time. Should we become members of Redweek? your opinions are welcome

In my opinion, I'd definitely say yes, become a Redweek member, and list your unwanted week(s) for rent on Redweek, not with your resort, even if they have that program.

I own three weeks at a Marriott resort in HIlton Head, and have rented two of the three weeks for the past three years using Redweek, and occupied the third week myself. I've rented the two weeks for enough to more than pay the annual maintenance fees on my three weeks. The one year I gave one of my weeks to Marriott to rent, I recieved only $800. for the week. I know they rented it for much more money. When I rent the weeks myself using Redweek, I recieve $1800. for each week.

Why do I rent these weeks instead of trading them or using all three weeks? Because I still work, and my vacation time is too short to use all three weeks. When I retire we will use them, or trade to go to other resorts.

Redweek is inexpensive, and if you post your weeks early, they'll likely rent. I posted weeks reserved for over Memorial Day in January and I rented them in February this year, so the Redweek fee is well worth it to me.

Good luck,

Kathi

joej77 wrote:

jayjay wrote:

I would check directly with an IRS expert on this.

I do not believe the loss is deductible unless the timeshare was given to a true CHARITY. We Collect Timeshares is not a charity and they charge you $3000 to take your unwanted timeshare off your hands ..... rip-off bigtime.

barbarac235 wrote:

When I mentioned to call "We Collect Timeshares" I was not referring to a "charity." We Collect Timeshares charges to takeover the timeshare, BUT the loss can be deducted over 2 yrs. from your IRS taxes, thus recooping the loss. This was verified by an IRS agent before making the transaction.

Campy

I believe the deduction you are looking at is the similar to taking a loss on selling your house but it is only deductible to the extent of your gain. JJ

I recently had an e-mail from myresortnetwork.com regarding a timeshare auction, but on the site I also discovered information on giving a timeshare to charity. (Not all timeshares are accepted and they must have no current debt.) They have a list of national charities to which you can designate your donation. This may be the source of the timeshares they were auctioning off, but I don't know this for certain. Anyhow, it is worth checking out. MD

ann286 wrote:

jayjay wrote:

Jayjay,

In answer to your question, he likely paid in the neighborhood of $28,000 per each week ($28Kx12=$336,000), with the fees and taxes approximately $700-$800 per week per year (approx $9,000 year). Keep in mind that he was weighing that against a $1.5 million condo with yearly property taxes at 1.25% or $18,750. He didn't see any condo's in the area that lived up to the life style of the Marriott resort, so he bought the weeks instead. Chuck Chuck, I'd be curious to know what he paid for his 12 Marriott platinum weeks and what his yearly maintenance fees are? I can't even imagine :o).

chuckg21 wrote:

In 2004, I met a local resident who lived in the Palm Springs area and wanted a condo in Luguna or Newport Beach to escape the torrid heat of the summer. Rather than pay the $1.5 million for the condo, he purchased 12 weeks in the platinum season at Newport for a fraction of the cost. This is just an example why some people purchase multiple weeks. Chuck

There are actually four owners at Newport Beach who have purchased all 52 weeks at the Marriott Resort! We are on Marco Island and we have sold more 4, 8 and 12 week packages here than any other resort!

chuckg21 wrote:

There are actually four owners at Newport Beach who have purchased all 52 weeks at the Marriott Resort! We are on Marco Island and we have sold more 4, 8 and 12 week packages here than any other resort!

Gosh, 52 weeks X 28K a week = 1 million 456 thousand dollars and say the maintenance fees are $900 a week, that adds another $46,800 anually totalling 1 million 502 thousand dollars a year .... that's mindboggling. I would have liked to have been the Marriott salesman that sold that deal .... no telling what his commission was, however I wonder if the buyer actually made a good deal with prices of houses and condos falling like rocks in California.

I can understand rich snowbirds buying 4, 8 and 12 week packages in southwest Florida (Marco Island Marriott) in that low supply, high demand area for weeks 1-15.

jayjay wrote:

chuckg21 wrote:

There are actually four owners at Newport Beach who have purchased all 52 weeks at the Marriott Resort! We are on Marco Island and we have sold more 4, 8 and 12 week packages here than any other resort!

Gosh, 52 weeks X 28K a week = 1 million 456 thousand dollars and say the maintenance fees are $900 a week, that adds another $46,800 anually totalling 1 million 502 thousand dollars a year .... that's mindboggling. I would have liked to have been the Marriott salesman that sold that deal .... no telling what his commission was, however I wonder if the buyer actually made a good deal with prices of houses and condos falling like rocks in California.

I can understand rich snowbirds buying 4, 8 and 12 week packages in southwest Florida (Marco Island Marriott) in that low supply, high demand area for weeks 1-15. Dear Jayjay, You'd have to be unconciously wealthy to pull off a 52 purchase. I'm sure the Marriott sales person must have felt that he hit the equivelant of the California Lotto that day. I don't know when or who any of the four people were that purchased the 52 weeks. The $28,000 per week price was a Sept 2004 Platinum week price (Newport Coast - summer and fall). Weeks falling in the winter and spring (Gold season) would have been less, of course, but the fixed holiday weeks would have been even higher than $28,000. Chuck

Ask an Expert

http://www.freewebs.com/timeshareexpert/index.htm

andrea364 wrote:

I have questions about timeshares. I am seriously thinking about buying a timeshare on the beach in my favorite place New Smyrna Beach, Florida. There is a listing on eBay I am thinking about bidding on and the auction ends in less then 24 hours. The cost would be whatever the auction ends at, plus closing cost of about $400.00. It is week 2 for inventory purcpose and floating week 1-52, 2 bedroom, annual mainentance fees are about $425 right now. I have never bought a timeshare before, so I am hesitant to do it. Are these things worth it? There is no way I could stay on the beach for anywhere $425 per year. I could also buy through Redweek for up to $1500 for a 1 bedroom. This is at Islander Beach Resort a very nice place as I have seen it from the outside, while driving by. Can some one please help me to decide. Are these easy to sell if I loose my job, etc and need to get out or am I going to be stuck for the reat of my life? Also, what about RCI, etc. I know nothing about these things, please help!

Thank you,

Andrea

Andrea:

Sorry I just now saw this message.

Yes, I think if you plan to go on vacation at that particular resort, it is worth it. I bought mine from E-bay and haven't used mine yet but bought it to trade. It is expensive to join the RCI (It's over 100 per year) and than there is an exchange fee on top of it.

My boss is an expert in timeshare and he always says buy right on the beach, watch out for the monthly maitenance fees. If you are under $500 for 2 bedroom, that is excellent!

I am new to this Website and I wish I could have seen this sooner. If there is anyone else out there who has a similar problem, check out www.givebacktimeshare.com because they might be able to offer you a better alternative.

I trust you intended to say "Annual maintenance fee" not "monthly". $500 a month for a week of use would make my blood run cold! MD