On November 14 ABC News ran a 8 minute video raising warnings to anyone interested in buying a timeshare. They highlighted all the stereotypical issues involving timeshares - declining values, rising maintenance fees, lack of true flexibility.  They made the whole industry sound either shady or worthless. They only told half of the story.

Owning and using a timeshare will work for you if you go into the experience with your eyes open. Especially at the beginning. Never pay retail prices for what many owners would be willing to sell you for a serious discount. Buy a timeshare at a location you really like and plan to frequent. Don't make your decision about buying a timeshare based on exchanging it every year for your favorite destinations. That seldom works out. Finally, use your timeshare. that's where the true value is. Over time, you really will save a bundle and enjoy much nicer accommodations.

When you get ready to sell your timeshare, use a timeshare resales specialist. A company with a lot of years of experience like www.rpmls.com. And be reasonable about what you intend to get out of it - What is my timeshare worth? The bottom line is . . .

Buy timeshare resale - don't pay retail.

 

You will be asking yourself that question when you get ready to sell your timeshare. Why? Because the answer to that question may determine whether or not you will sell your timeshare or keep it. The only "official" guidance that has been offered came from the American Resort Developers Association who said that timeshares will usually sell for 50% to 75% of a retail price. But, with averages being just that, averages, that may not help you much.

Stroman Realty, Inc, has published a report that draws data from thousands of timeshares sold on the secondary market. Even though the rule of averages still applies, the following graph from that report gives timeshare owners a good indication that the resales value of their timeshare is going up quickly. The chart below shows that from 2003 to 2007 the average resales price of a two bedroom high season timeshare grew from $7,505 to $11,031. That's great news for anyone contemplating selling their timeshare. So, if you've been thinking about it, right now is a great time to sell!

 

These days, everyone is thinking more about saving money - for food, medical care, insurance, and yes, holiday travel. There are even magazines devoted entirely to the subject like Arthur Frommer's Budget Travel. The best way to save the most money on your vacation would be to use a timeshare for your accommodations.  The best way to accomplish that is if you were to buy a timeshare on the resales market at a destination you are likely to use.  Many people have purchased timeshares from the resort with never intending to use their timeshare at the resort. They intend to exchange to other locations. But if you really want to get the most use out of your timeshare and travel dollars, try to plan your timeshare vacation around the location of your time share resort. 

The initial cost of your timeshare should not be driven by the pressurized sales force at the resort. That's why buying a timeshare resale is the best way to go. Usually, you can purchase a timeshare from an owner who would be willing to make you a deal anywhere from 25% to 50% off the retail price. So if you can save thousands why do thousands of people buy timeshares at the resort every year?  It is a combination of good sales practices, seizing the emotional moment while you are there at their timeshare resort, and being sold on the idea that you are getting a great deal.

Nonetheless, the best deal would be if you buy it through a timeshare resales broker, like those at www.rpmls.com.  The have a huge selection of timeshare resales properties to select from, an educational and informational approach to helping you find the right timeshare resale deal, and a professional timeshare resales staff to get the deal closed - making everyone happy.

If you are ready to buy a timeshare on the resale market, check out these best deals.

If you are thinking of selling your timeshare on the resales market, check out what they can do for you.

This is a great place to do your research on the whole process of timeshare resales.

Marriott's Aruba Ocean Club Timeshare

 

Central Florida Investments, Inc, parent company of Westgate Resorts, Inc, has closed their Houston sales office and laid off 106 employees. (source)  This office has been doing "off-site" sales of timeshares for their network of Westgate Resorts.  Their office, located on Richmond Ave, featured a full sized model of one of their timeshare units to present to their buyers. They called this their preview gallery. The reason they gave the Texas Workforce Commission for the layoffs was that they "experienced an unforeseen business emergency brought on by the collapse of the credit markets." They were not able to sell their notes to their usual buyers, and the cash flow stopped. So far that all sounds like a normal by product of a severely tight credit market.

The reason this story caught my attention was because of the sales tactic of "off site" sales. I know that Westgate would not have kept the office open for the last 4 years if it were not successful. But, how hard must it be to sell a timeshare (at a top retail price) that may be actually sitting hundreds or thousands of miles away? Richmond Ave in Houston is nice, but it is not as popular destination as Las Vegas, Orlando, Hawaii, or others. So what kind of confidence can the consumer have when buying a timeshare in Vegas without going there? And how hard must it be for a sales person to close a deal when the buyer is not able to enjoy all the benefits and excitement of the terrific destination? Then, I'd wonder how high is their rate of cancellation compared to on site timeshare sales?  You'd think it would be harder to hold a buyer in this kind of deal.

I'd love to hear from any of you who used to work there or who have done "off-site" sales for timeshare developers!

Take a look at how we sell timeshares with no hassle, no pressure, and always "off-site".

Polo Towers Timeshare in Las Vegas

 

"What is my timeshare worth?" "Do I need an appraisal on my timeshare before I sell it?" "What is my timeshare's value?" I hear these questions and other variations of it every day. Everyone who is thinking of selling their timeshare wants and needs an answer in order to come up with the best strategy for selling their timeshare.

Stroman Realty, Inc's website www.timesharelink.com has an in depth study of that very issue. You can find the entire article here: "Setting your timeshare sales price".

Long held industry advice is that the average timeshare will sell for about 25% to 50% of the current retail price from the resort developer. The problem with averages is just that - they are averages. An average will not take into account specific locations, supply and demand, amenities, developer's reputation, and many other things.  For example, a timeshare that gives you a fixed week during peak ski season in Breckenridge will be worth more than the same unit and resort during off season. Or, a Manhattan Club timeshare that guarantees you New Year's eve will be worth more than the same timeshare two weeks earlier.

The quality of service the resort gives to the owners also comes into play. Interval International and RCI rate their resorts with the quality of service being a large factor in deciding if they are a Gold Crown or Five Star timeshare. That will also influence the value of a timeshare when you get ready to sell it.

How about "a room with a view"? The article found at www.timesharelink.com says "A room with a view is not limited to areas near the beach or ocean. Some resorts may have rooms on one wing that is obstructed by another building while an adjoining wing may have a view of the downtown area. A resort may also have multiple views where one area of the resort gives owners a view of a mountain landscape, while another view overlooks a lake or the heart of the city."

Ultimately the value of a timeshare is in the memories of great vacations you have enjoyed by owning it. But when it comes time to sell it, it is harder to put a dollar amount on those memories. And, what if you never even used the timeshare? You'd have little or no emotional investment in it and would likely just prefer to get rid of it.

Either way, take a look at the guide I mentioned if you need help in figuring out what your timeshare is worth. Now that would be time well spent!

There's a brand new guide for timeshare owners that will prove to be quite valuable: "Selling Timeshares Property Owners' Guide". There is a huge amount of well organized information that anyone who is contemplating selling their timeshare should take the time to read.

In the guide you will find detailed information about how to set the sales price, your options for selling your timeshare, timeshares "For Sale By Owner", Realtors who specialize in selling timeshares, advertising companies, fees, commissions, escrow, and lots more.

In the section entitled "Understanding Timeshares and Being Prepared to Sell" the guide advises the timeshare owner: "Considering the many options and varying degrees of methodology between a FSBO method and utilizing a Licensed REALTOR, you should be able to find a method of selling timeshare that suits your needs."

Many of the misconceptions and myths surrounding a timeshare sale are addressed. As with all things, "fear may be overcome with knowledge".

This is not a "mashed up" rehash of old news. You'll find advice from timeshare experts who have hundreds of years of accumulated timeshare resales experience.

If you are thinking of selling your timeshare, read this guide. You will save yourself a lot of time, money, and aggravation.

Yesterday's announcement from Disney that they will give free admission to one theme park on your birthday, brings up one important thing on my "to do list" - buy a Disney Vacation Club timeshare on the secondary market. After all, why should I pay the going rate at the resort when there are owners who would be willing to sell me their DVC for much much less?  I'd get the same product but for thousands less!

But how would I find the right resort, make sure the owner knows exactly what they own, and get the deal closed? What about escrow, closing companies, and transfer of ownership at Disney?

If you are really serious about buying or selling Disney Vacation Club timeshares, then you should utilize the services of timeshare resales specialists like those at www.rpmls.com. They have the size, experience, and systems to get the right deal and do it right the first time! With thousands of timeshare properties sold and closed, their experience would be the "steak" you need - with none of the "sizzle" so many seem to offer.

Disney Vacation Club's proximity to Walt Disney World, their amenities, and attention to detail would make any timeshare owner confident that they made the right decision - especially when you buy your DVC timeshare from another owner.

 

Today from www.MousePlanet.com comes this charming story: "The Disney Company recently purchased 21 acres of oceanfront property on Hawaii's island of Oahu to be home to Disney's first mixed-use family resort outside of its theme park developments. The expansive resort, scheduled to open in 2011, will have more than 800 units including hotel rooms and villas for Disney Vacation Club (DVC), which is Disney's rapidly growing timeshare business."

So, how is this a charming story? The rest of the story is the history of Hawaii and Disney.

Beyond the story of a 1937 cartoon with Minnie Mouse in a hula skirt (Hawaiian Holiday) is a magnificent accession of Oahu property destined to be one of the finest resorts within the Disney Vacation Club timeshare enterprise, or any other for that matter. Hawaii has long been a source of inspiration and imagination of the most desirable vacation destination of all time. And, the combination of travel and tourism will forever be the driving force of the economy of Hawaii.

Disney Vacation Club timeshares include:

Disney's Animal Kingdom Villas

Disney's Saratoga Springs Resort and Spa

Disney Villas at Wilderness Lodge

Disney's Beach Club Villas

Disney's BoardWalk Villas

Disney's Old Key West Resort

Disney's Vero Beach Resort

Disney's Hilton Head Resort

If you are thinking of buying a Disney Vacation Club timeshare, buy resale - don't pay retail. You can save thousands that way. If you want to sell your Disney Vacation Club timeshare, we have buyers waiting with standing requests! Give the timeshare pros at www.rpmls.com a call - 1.800.200.9857.

From Hawaiian Holiday, 1937

Here's yet another sign that the economy can't be as bad as the pundits seem to think.

Westgate Timeshare Resorts reported that their sales were up 22 percent in June. In fact, they posted a record sales week in July with $33 million in sales!

Westgate Resorts, based in Orlando Florida, is the largest privately held timeshare developer in North America.  Many other timeshare developers are reporting sales growth as well. If luxury properties are being sold in record numbers to mostly "middle class" America, it is hard to conclude that this country is in a recession or heading for one. After looking at this phenomena you would have to conclude that either 1 - People are recklessly plunging themselves into debt, or 2 - Baby boomers are leading the way into this growth with their accumulated wealth.

So the growth of Westgate timeshare sales should not be surprising. People can create a "work around" solution when it comes to juggling expenses in order to make room in their budget for family vacation travel.  That is also partly because our generation (that is, boomers) value leisure time and time spent with family.

If you are ready to plunge in and save thousands at the same time, call the timeshare pros at www.rpmls.com at 1.800.200.9857.

In discussions about resort properties and second homes I often hear people use the word "timeshare" and "fractional" interchangeably. There are huge differences in these two types of less than whole ownership property.  To begin with, there are far more timeshare developments in North America than fractionals.  In the state of Florida alone, there are over 750,000 unit weeks of timeshare that have been sold. Many less owners of fractionals exist. The sales approach to timeshares is also more aggressive than fractionals.  And according to basic industry standards, the average fractional owner will have twice the annual income than a timeshare owner. (Timeshare and Fractional glossary)

The most obvious difference is the amount of time you get to use the property.  Timeshares are sold in intervals of one week at a time.  Fractionals, for the most part, consist of one month to three month (quarter share) deeds.

When it comes time to sell your timeshare or fractional, there are some differences there as well. The resales market for fractionals is stronger than for timeshares because of supply and demand. Also, fractionals will usually hold their resales value much better than a timeshare will.

If you have decided to buy or sell a timeshare or fractional, it would be wise to check out the services of a professional like the ones you'd find at www.rpmls.com.  They have the experience, size, and systems to get the job done.