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View Poll Results: Timeshares, Like Em or Don't Like Em
Like Em 9 25.71%
Don't Like Em 14 40.00%
Don't Care Either Way 12 34.29%
Voters: 35. You may not vote on this poll

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Old 03-09-2012, 08:43 AM   #16
bkellyb
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I agree purchasing a timeshare from the developer is never a good idea and you will most likely never recoup your investment. But I believe buying resale can sometimes provide an excellent opportunity for some. I was able to purchase a 2bd at Still Waters in Branson for $300. Currently have a summer week, July 14-21st, reserved. Reservations for that week would cost more than $2000 with the resort. No way I would be able to afford to take my family to this great resort for this length of time that way. Have also been able to rent my unit out, or trade it for some great vacation opportunities for my extended family.
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Old 03-09-2012, 08:50 AM   #17
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We're the same way. We have looked very hard at Disney's DVC program. We visit WDW frequently, but buying in still wouldn't pay for itself for us. In our situation, it's close to break-even, but why tie ourselves into something like that just for break-even?
The savings can be considerable over the long term. During the first 10 years when we were paying for our DVC mortgage, the combined payment for mortgage and maintenance was about $3,600 per year. This year we are using our points to take a Disney Cruise that would have a cash price of $4,662 for the accommodations we've chosen, so the savings are considerable. Of course now that our mortgage has been fully paid and we are paying nothing but maintenance it is a REALLY good deal. I like using our points on cruises because then you are not only getting your lodging without additional out of pocket expense, but are getting your food too! Makes for a VERY economical vacation!

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Old 03-09-2012, 09:03 AM   #18
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how do you get rid of a timeshare. is that possible.
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Old 03-09-2012, 09:08 AM   #19
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how do you get rid of a timeshare. is that possible.
Depends on the timeshare. There is a good market for DVC resales. On the other hand, you can't even GIVE AWAY some timeshares. Before ever buying a timeshare it would be good to do internet searches and see what the resale situation is for the property you are interested in.

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Old 03-09-2012, 09:16 AM   #20
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We're the same way. We have looked very hard at Disney's DVC program. We visit WDW frequently, but buying in still wouldn't pay for itself for us. In our situation, it's close to break-even, but why tie ourselves into something like that just for break-even?
I admit it can be a tough call to make. It has worked out VERY well for me, but then I purchased my initial DVC points when they sold for about 50% of what they sell for today.

The value also is so depending on things that it is impossible to know at the time you buy. Because of the stagnant economy over the past decade hotel prices have increased very little. That puts a considerably different value on a timeshare than the 90's when hotel rates were going up 5-8% every year. How do you predict what will happen in the future? You can drive yourself nuts when trying to factor everything in. In the end all you can do is check the resale values and then go with your gut... either you want to do it or you don't want to. And of course for a brand new development there is no resale history, so that makes checking resale values impossible.

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Old 03-09-2012, 10:23 AM   #21
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how do you get rid of a timeshare. is that possible.
I suppose it was inevitable that this would become a discussion of timeshare issues, pros and cons, rather than a mere poll, so . . .

99.99999% of timeshares come with no exit strategy provided by the industry. They take your money when you buy it, your resort takes your money each year, the exchange companies take your money when you trade to another resort, but when an owner no longer has a need, use, desire for, or cannot afford it, tough.

Most resorts will not take them back (deedbacks), even for free, the owner getting nothing for what they paid thousands for. Google something like Timeshare Trap, and that is what they are talking about.

Some individual resorts assist owners who want to sell with listings on their bulletin board and in their newsletter. Some resorts are affiliated with local realtors, some even having an office at the resort. Resort Associations take back title to weeks after turning delinquent owners over to collection agencies, and then foreclosing. We have bought three weeks from Associations.

Some developers and marketing companies offer ROFR, Right of First Refusal, where they attempt to bolster the resale price by buying back resales that are sold too low. In practice, very few exercise ROFR.

This has spawned various unscrupulous resale companies over the years. The first wave of them charged an upfront fee, promising to sell it for you, but few did. That pratice has been made illegal in states like Florida. We actually bought a week, since resold, from one of the first prominent resale companies, which since has been charged with various offenses. Their closing attorney absconded with everyone's escrow money, including ours, and the company did nothing to make it right.

The latest version is referred to as Post Card Companies, so named because PCCs mail out postcards to TS owners, inviting them to a meeting at local hotels, where they promise to take outright ownership of your TS, ending fees forever. They charge a fee of between $2000 and $4000. Some never take title, just excecute a power of attorney, and if they don't get it sold, the owner finds that out later.

Most of the ones for sale on eBay, many for a buck, are PCCs. Owners of Branson timeshares have gone that route to get rid of them. I have talked to folks at PCCs who have handled them.

We've bought four weeks directly from PCCs, for closing cost.

That practice is being cracked down on in Florida right now.

Right now it is like The Perfect Storm of timeshare resales. The surge of sales 20 years ago to Boomers coming of age and wanting timeshares for family vacations, but now no longer having family at home to take vacations with, plus the recession, has dumped tens of thousands of unwanted timeshares on the market, rendering most of them, especially in areas overbuilt with them . . . Branson, Orlando, Williamsburg . . . worthless.

Without some sort of artifical support by a timeshare company, there is virtually no market value for most timeshares. I am familiar with areas that have an actual real market value, and it is much lower than prices developers charge. Some Snowbird Weeks in SW FL go for as much as $20K, resale, and are normally bought by other owners at the same resort. Weeks 1 through 12, or so, are in high demand.

You can try your resort bulletin board and newsletter, eBay and Craigslist, but that's about it.

Any way you spin it, any way you try to explain it away, it is not good for any industry to have thousands of people who have been loyal customers for many years being forced to pay for something they do not use, and that will not change until the industry decides to change it.

If you will google questions of this nature, you will find copious information on the Internet.
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Old 03-09-2012, 12:45 PM   #22
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I voted "like." I own five point-based timeshares in Branson. I only bought one of them (a bi-annual one) from the developer in order to upgrade my ownership to a status that provides point discounts and other limited perks. The rest I purchased at very reasonable prices second-hand. So far, I have been very pleased with our timeshares. Over the last five years, I have been able to rent out excess points, pay my maintenance fees/taxes, subsidize my vacations, and donate thousands of dollars to support missions and charitable relief organizations. I still owe a few thousand on the developer-purchased timeshare, but I should be in good shape once I pay it off.

As with any purchase, you should always consider both the costs and the benefits before signing on the bottom line. If you are not going to use the timeshare or get your money's worth out of it, then DON'T BUY IT.

I agree with NOTJLB that the timeshare market in Branson is way overbuilt. This results in a drastically-reduced resale market and fewer viable exchange options (especially in the high season.) You should not buy a Branson timeshare with the idea that you're going to get fabulous exchanges or recoup even 25% of your buying cost when you sell. However, if the value of your yearly vacations exceed the price of your maintenance fees and upfront costs over time, it might be worth taking a chance.
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Old 03-09-2012, 12:47 PM   #23
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DW and I really like our timeshare. We have traded into some very nice places in the last 10 years, mostly in Branson. When we bought ours, it came with what was called Endless Escapes. We had our one week to use plus we could stay in one of the resorts at no charge for up to six nights if there was availability. We have used that feature many times which makes the cost much more reasonable. Unfortunately, that benefit is no longer available with purchases of another week. Staying in condos has spoiled us so that we now do not like to stay in hotels/motels.
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Old 03-09-2012, 12:51 PM   #24
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I do not have timeshare but was just curious
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Old 03-09-2012, 01:18 PM   #25
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I do not have timeshare but was just curious
That's what killed the cat.
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Old 03-09-2012, 01:28 PM   #26
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I agree with NOTJLB that the timeshare market in Branson is way overbuilt. This results in a drastically-reduced resale market and fewer viable exchange options (especially in the high season.) You should not buy a Branson timeshare with the idea that you're going to get fabulous exchanges or recoup even 25% of your buying cost when you sell. However, if the value of your yearly vacations exceed the price of your maintenance fees and upfront costs over time, it might be worth taking a chance.
For years the major exchange company kept things hidden from the public, and it's members. Because of that, those selling could misrepresent all they wanted. A standard line in almost every sales pitch, anywhere, was, "Buy here and you can trade anywhere you want."

Because of a classaction lawsuit, that exchange company was forced to provide disclosure. One aspect of that was to provide an "open" trading power program, one where you can see what your deposit will be worth and what it would take to get something else.

That confirmed what Branson owners had suspected. One of our weeks is at a highly-rated Branson resort, one that was always hyped during sales presentations. Now it only has about 1/3 the trading power of what is actually a lesser resort somewhere else.

That new trading system was unveiled on 11/16/10. When it rolled out, we no longer could trade for the last 26 trades we had made with the same deposits we had used. One day we could and the next day we couldn't, after 20 years of being a loyal customer.

But, there I go, making this a discussion thread again.
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Old 03-14-2012, 05:46 PM   #27
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Oka-a-a-y-y-y who gave out my cell phone number to WestGate resorts?!?!?!?!?

There aren't 6 places/people in Branson that know my cell phone #....&&&&... NO one in Branson knew where I stayed in West Des Moines IA last November.....but, Quality Inn / West Des Moines had my cell # number.....

What was really funny, was, that the TS idiot called it Moeness, Iowa.....

I yelled @ him to remove my number from their calling list!!!! idiots!

(Can you tell, that I am a little upset?)
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Old 03-15-2012, 07:09 AM   #28
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Oka-a-a-y-y-y who gave out my cell phone number to WestGate resorts?!?!?!?!?

There aren't 6 places/people in Branson that know my cell phone #....&&&&... NO one in Branson knew where I stayed in West Des Moines IA last November.....but, Quality Inn / West Des Moines had my cell # number.....

What was really funny, was, that the TS idiot called it Moeness, Iowa.....

I yelled @ him to remove my number from their calling list!!!! idiots!

(Can you tell, that I am a little upset?)
http://www.ftc.gov/opa/2009/01/westgate.shtm

http://articles.orlandosentinel.com/...-call-registry

They sold our name and number many times over, it appears.

No Call violations are so frequent at our house that I have quit reporting them, although reporting them is pretty easy. Calls are just too frequent.
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Old 03-31-2012, 06:34 AM   #29
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