Timeshare Properties Continue to Loose Value

Obviously, as you can see, I have not posted in quite a while as I have been busy with other projects.  Additionally, I am also a recruiter for a multi-billion dollar company.  What is interesting is that I have come across a number of resumes over the past several months in the Orlando area (where I live), resulting in many of those resumes belonging to individuals that were employees of  timeshare property developers.  In speaking to many of them, I have found that the timeshare industry over the past 2 years has definitely had its share of financial problems. 

What I have been told by many is that it is becoming more difficult to sell timeshare property directly from the property developers, and that many of the families looking into purchasing timeshare property have now looked to the web for “better deals”!  I recall speaking to one potential recruit that worked for one of the larger timeshare property developers here in Orlando, in the in-house sales department, that many of the families are  making the rounds on several timeshare properties during their vacation just to obtain the free cash and tickets to various attractions and restaurants in the central Florida area.  This individual told me that she has been told by more than one family that they had no intention of purchasing direct from her company as the timeshare properties available on the web were indeed, much cheaper.

I have been searching the web lately and found that many of these timeshare properties are actually being giving away for a “song”, provided that the new owner takes over the annual maintenance fees and any other incidental fees that may have been incurred during the previous owners membership.  Lets face it.  The economy is showing little or no improvement during the past year, and frankly, I am not convinced that we will see improvement anytime soon.   I fear one of the biggest problems that current timeshare owners are experiencing lately, is the annual maintenance fees.  With our current economy on a continual downturn, families cannot afford those fees; so as a result, they must either sell the property or loose it anyway to the property owners.

Over the next few months, I plan to visit many of these timeshare properties in the central Florida area to obtain information that I trust, will help those reading my blog, with valuable information, whether you are thinking of buying, selling, or just holding on to the property you currently own.

I will be posting a little more often now that I have more time on my hands to address the concerns of this industry.

Are you taking a timeshare tour?

Well, its that time of year once again.  Summer is here, and vacationers abound!  Timeshare property developers have now geared up for summer and ready to provide timeshare tours of their property, hoping that the results of these tours will result in new timeshare ownership for many.  Are you ready to take the tour?  Here are a few points to be aware of if you are so inclined:

Most tours take anywhere from one and a half hours to as many as three hours, depending on the length of the presentation, the number of questions and answers that need to be covered and especially, the fact that during the peak season, many of the timeshare property developers are inundated with tours.  As long as you clearly understand that you “may” be on tour with a verbal and pictured presentation following the tour, then by all means, take the tour!  You have nothing to loose, and as you are most likely aware, most timeshare developers will, at the end of the tour, give you a monetary reward or discount tickets to attractions in a geographical area close to where the timeshare property is located.  In many cases, you are rewarded with anywhere from $50 to $100 or more in money or attraction discounts, and in some cases, even restaurant discounts.

Now, keep in mind, that the individual who is taking you on the tour is on commission.  There job is to present you with a thorough presentation making it as attractive as possible.  The result, of course, is to get you to invest in a timeshare property unit.  Now, that’s not necessarily a bad thing.  Many individuals and families, purchase timeshare property all of the time.  What I suggest, is that before you take the tour, whether it be just to receive your reward at the end of the tour, and whether you purchase or not, think of questions that you should ask about the property and it’s amenities.  Some of these questions are:

1)  Are all of the amenities included in the price of the timeshare?, 2)  How much are annual maintenance fees?, 3)  What is the pricing of a fixed week versus a floating week (Blue or Red Week)?, 4)  Are there other annual costs that must be paid in addition to the cost of the maintenance fees and the unit itself, if I am not paying for the unit up front?  These are just a few of the important questions as they pertain to your potential investment.

Some of the sales representatives of these timeshare property developers are extremely pushy.  Well, what do you expect?  They are, as I said, on commission.  So how do you combat this issue?  Before the presentation starts, make it clear that you are interested in taking the tour, but you may or may not make a decision that day.  In essence, you are sending a brief message to the sale representative letting them know, in no uncertain terms, that although you are on their turf, you are in control.  Dont let a representative intimidate you into purchasing a unit, if you are not ready.  On the other hand, if your honest intension was to take the tour with a good possibility of making a purchase that day, make sure to ask all of the questions that you can think of and make sure you receive definitive answers to each and every one, before signing on the dotted line. 

Most sales representatives will tell you, at the end of the tour, that the offer being placed on the table is only available for the day of the tour.  I have always felt that was a sales tactic.  I would be willing to bet if you made a decision to purchase later in the week while on vacation, the offer would still hold true.  In fact, you might be surprised to find that you may even get a better offer to purchase.  Lets face it!  Its all a numbers game, and if the numbers are low for the week, that additional concessions may be made.

In closing, enjoy your vacation.  Take a timeshare tour if you so desire, regardless of the reason, as these presentations will help to provide you with more incite on the geographical area you are visiting.  In fact, you may want to take more than one tour during your stay at a vacation resort.  This will provide you with a good comparative analysis of the area, the amenities each timeshare property has to offer and a great way to compare cost as it relates to what each has property has to offer.

Big Brand Timeshare Resorts versus No-Brand Properties

Big brand timeshare resorts such as Westgate, Marriott and Hilton offer many amenities and are usually conveniently located in the most popular vacation spots in the world.  You will find the big brand resorts are usually large, providing more than adequate property for swimming, tennis, golf, bicycling, health clinics and even on-property restaurants providing popular cuisine for the most discriminating people.  Related costs for these timeshare properties are usually at a premium and annual maintenance costs can run as high as $1000-$2000 annually.  Generally, the condition of the properties are good to excellent with maintenance crews on staff providing quick responses to daily problems that occur either with a specific timeshare unit or the property in general. 

Additionally, these big brand resorts offer several different unit sizes to include one, two, three, four and five bedroom units as well as lock-off units that provide the flexibility of opening 2 separate units side-by-side giving the flexibility of a much larger unit than a single unit.

Some of the big brand resorts require an extra charge for items such as paddle boats, bicycling and the use of the health clinics (weight rooms) to name a few.  If you decide on making a purchase at one of these big brand resorts, make sure you find out if and what additional charges you may incur for using some of their property amenities.

Lets take a minute to talk about no-brand timeshare resorts.  I won’t name them, but you will find them in almost all of the popular vacation spots.  Many of these smaller resorts are located conveniently near local attractions.  Many of them offer amenities similar to the larger resorts.  The related cost for these timeshare units are usually less expensive than the larger resorts, but keep in mind, that if the vacation spot is very popular, such as Orlando, Florida, you will find that even the smaller timeshare resorts price structure for purchasing a unit will not be much less than the larger resorts, and in many cases, the prices will be the same or possibly even more.

Many of the smaller resorts have several amenities; however, the size of their properties in many cases, will be smaller, so there may be limits to the amenities that they can offer.  The units in the smaller resorts may have limitations relating to the number of bedrooms, porches, kitchen amenities, and flat screen TV’s, etc.  Most smaller resorts do not have restaurants on properties; however, many have arrangements with outside restaurants to provide its guests with substantial discounts for dining.  Also, many of the smaller resorts offer discount tickets for various attractions in the area.  Due to the fact that these smaller resorts may not provide as many amenities as the larger resorts, you will find that many of these amenities are provided at no charge to the timeshare owner.

Some of the smaller timeshare resorts are off the beaten path and may require the owner to drive anywhere from 15 minutes to an hour between the timeshare property and the actual vacation spot.  For individuals who are not concerned about the drive time, there are advantages to owning in a smaller timeshare property.  Usually, the cost for maintenance is less, and some of these properties are located in quiet secluded areas that are more desirable and provide the guest the advantage to get away from it all!

If you like the hustle bustle of a larger resort, need all the amenities that it has to offer, and are willing to pay the price, then the larger name brand resorts is most likely the way to go; however, if you like seclusion, and don’t mind a little bit of driving, then the smaller resorts may work out ok.  Keep in mind that there are many smaller resorts that offer many amenities at no charge or at a very nominal fee for their usage.  If you are not sure which way to go, all of the timeshare resorts, whether big or small, offer tours that usually take anywhere from 2-4 hours, and in return, provide the individuals with some form of compensation such as cash, or discount tickets for attractions etc.  Keep in mind, that some of these resorts have high-pressure sales tactics, but you are never obligated to buy!  Now I am not saying to take 10 tours of resorts while vacationing, but if you have the time and are possibly interested in purchasing a timeshare resorts, you may want to take one or two tours of those that interest you the most.  Before vacationing, surf the web to see what vacation ownership properties are available.  This will help you to plan ahead before you head on out the door!

How To Sell a Timeshare in the New Economy

There is no secret that the economy has not been doing well for over 2 ½ years.  Is there light at the end of the tunnel?  Of course, but as you are most likely aware, it will take time to turn this economy around.  Lets face it; ever since the real estate market experienced a major decline in 2006-07, it has been a long road to recovery that won’t happen overnight.  So now what?  How do I sell my timeshare in this economy? 

There are many things to consider.  First and foremost, where is your timeshare located?  Is it in a desirable vacation spot?  Do you own a Red Week or a Blue Week?  Are there many amenities on the timeshare property?  What is the weather like if you own a fixed week?  How difficult is it to swap your week or to exchange your week thru an exchange company?  These are just some of the issues that help to determine the value of your timeshare property.

Sure, the economy has been at its lowest for the past several years; however, families still vacation!  The question is, how desirable is your timeshare property?  How much should I sell it for on a quick sale, or at a premium?  These are excellent questions, and most likely, your best bet is first, to contact a timeshare professional in the city or area where your timeshare property is located.  A professional can bring you up to date regarding current market conditions in that area, what timeshare properties are going for based on a comparable unit similar to what you currently own, and on a final note, provide you with a reasonable current market value of your timeshare property.

Now, that’s not to say, that you may be able to get more for your timeshare property than what you are being told by a professional, but for what its worth, it gets you in the ballpark of a fair current market value.

One of the big questions, is do you sell now or when the economy improves?  There are various trains of thought that go into this process.  Do you sell now for less, but eliminate your maintenance fees and possible monthly payments (if you financed your timeshare)?  On the other hand, do you hold on to your property, continue to make annual maintenance and other associated fees, until such time that the market improves?  If you decide to hold on to the property for the time being, then unless you intend to use it annually, or exchange it annually for another timeshare property, then you may want to rent it out during the years that you and your family are not planning on using it.  The rent you get for the week may cover your annual maintenance fees and other associated fees eliminated that annual debt.  Keep in mind, that if you financed the timeshare property, you will continue to incur the monthly payments.  If you can afford to hold on to the property for now, most likely the market value of the property will appreciate once again, when the economy improves, and vacation ownership once again, is back on track.

You know as well as I, that times are tight and many people are purchasing timeshare property from other individuals rather than the property developer.  There is no secret that purchasing a timeshare property in this manner is considerably cheaper, at least for now.  In many cases, the buyer can save as much as 50-70% by purchasing from another individual rather than the property developer.  Keep in mind, that you need to make sure that the property developer does not have the first right of refusal, or if they do, what are the conditions of a potential sale.

Obviously, there are many issues to consider.  One of the biggest issues is your current financial condition.  Can you continue to afford your timeshare property?  Is your property approaching foreclosure?  If it is, then selling it quickly or renting it out to help cover related expenses might be the answer.  If you can afford to continue to hold on to the property at least until the economy turns around, then you most likely will get much more for it later as the market values continue to appreciate.

As I always say, do your homework!  Write down the pros and cons of continued timeshare ownership.  Does it make sense to continue to own, or is there debt relief in selling your timeshare property now?  There are many questions, but only YOU can answer them!

Timeshare Purchase – The Devil is in the Details!

Are you currently in the market to purchase a timeshare property?  Well, as they say, “The Devil is in the Details”!  Here are the major points to go over before you make that special purchase.

Before making a purchase from another individual, make sure that maintenance fees and monthly payments (if applicable) are up to date.  Also, is the property in foreclosure by the property developer?  Did you know that some timeshare resorts require a deposit upon check-in?  Make sure that all special assessments (if applicable) are up to date.  Special assessments may be an additional charge that the timeshare property owner may incur by the property developer for various reasons, such as overall property damage due to in climate weather or remodeling the unit(s) etc. 

The deed for timeshare property is recorded in the county where the property lies.  Check with the county to insure that the property is deeded ownership by the current owner.  Also, make sure that the property is not leased.

Did you know that a timeshare owner of a timeshare property could rent, sell, or even pass on the property to friends or other relatives over the years?  Make sure that the deed is clear with no special legal wording that “may” indicate that the property is being assigned to another individual in the future.  Timeshare property can also be donated at any time (given away).  Make sure there is no special provision in the recorded deed that may indicate this condition.  Sometimes, property owners, upon their demise, deem to donate the property to a worthy cause.

Is the property a fixed week or a floating week?  If a floating week, how far in advance does the owner have to make reservations? 

Are property taxes up to date?  If not, be prepared to bring them up to date at the closing, as this will be required in order to transfer the deed.  Also, ask the current owner or the property developer for all covenants, codes and restrictions for the timeshare property in question. 

Have a professional explain the process for closing on a timeshare property prior to the closing.  Ask how the deed will be transferred to you, as the new buyer.  Also, ask when the property was initially built.  If an older property, has it been remodeled recently?  You can always check with the property developer to verify the validity of the information being provided by the seller.  What is the rating of the resort?

Is the property in a desired location?  Keep in mind, that, as an example, if you own timeshare property in Orlando, Florida, once the kids have left the nest, you will want to exchange your timeshare property periodically for another area that you have been wanting to vacation in.

One of the biggest issues on the potential of purchasing timeshare property is to make sure that the property developer does NOT have the First Right of Refusal.  If the property developer does have the First Right of Refusal, you will have to obtain a legal document in writing giving you permission to purchase the timeshare property indicating that the property developer waives their right to purchase.

Well, I have covered quite a number of issues that you should be aware of.  Keep in mind, that these are just some of the concerns you should have when purchasing timeshare property from another individual.  There may be many more issues and concerns you may have such as amenities on the property that are tailored to your requirements etc.

As always, I highly recommend taking the advice of a timeshare professional when entering into a contract to buy or sell timeshare property.  This is for YOUR protection!

Sales Contract and Terms You Should Know

First and foremost, always, always, make sure you execute a legal contract for the sale of a timeshare property that is properly completed through the use of a timeshare professional or an agency that specializes in the execution of documents for the purchase and sale of timeshare property.  There are many title companies that specialize in the processing, execution and completion of timeshare sales contracts.  If you choose not to obtain the advice of a timeshare professional in the execution of a sales contract, then be prepared for possible legal consequences that you may incur following the sale or purchase of timeshare property.  This is no different than the processing and execution of legal documents for the purchase or sale of a residential property; however, the legal wording is tailored to the timeshare property in question and specifically indicates information that pertains to that specific  unit.

I wont go into the specifics of a sales contract, as there are many variations to the contract due to the multitude of timeshare properties available today; however, there are certain sales terms that you should be aware of when involved in the execution of a timeshare contract for purchase or sale.

Due to the fact that there are so many terms involved, please click on this website.  You will find a number of terms used in the industry that you need to be aware of.  Take your time!  Make sure to use a professional if you are purchasing or selling your timeshare property and finally, as always, do your homework to determine a fair market price to purchase or sell your timeshare property.  The time you spend now may save you hundreds or even thousands of dollars at the time of the purchase or sale.

Paradise Island, Bahamas

First and foremost, why choose Paradise Island, Bahamas?

1)     Paradise Island is just a short flight to Nassau from major U.S. cities

2)     Close enough to Nassau dining and shopping as well as historical and cultural sites, but far enough away to maintain “island seclusion”

3)     There is no need for a monetary exchange of U.S. currency.  The Bahamian dollar is equally exchanged for the U.S. dollar

4)     No language barrier as the Bahamian language is English, however, with a Bahamian accent

5)     Easy access from either cruise ships or the airport by local taxi

 Now that you see the ease and comfort of visiting this grand resort, lets take a look at some of the amenities that encompass this beautiful island paradise.

 Amenities Galore!

Paradise Island provides a tropical setting with several amenities that the whole family can enjoy.  There is a private health club for that early morning workout.  Of course, they have the latest in state-of-the-art exercise equipment to meet the needs of any form of exercise that you require.  If you like to shoot pool, you will find pool tables in the game room along with multiple climate controlled racquetball courts.  Of course, Paradise Island offers climate-controlled swimming in what they term as their “Super Pool”.  Even the pool surroundings provide a tropical landscape that enhances your swimming experience.

For those who like to gamble, Paradise Island provides a 50,000+ square-foot casino offering the latest in gaming tables and slot machines galore!  If you are into marine life, visit Aquaventure, with over 50,000 sea animals spread throughout 11 exhibit lagoons. This beautiful marine habitat is the largest open-air marine habitat in the world.  As part of Atlantis, this attraction has been visited by millions over the past several years and has become one of the “must sees” when visiting the Island.

Explore the lost ruins of The Dig, a journey into the world of the ancient Atlanteans, complete with an elaborate maze of corridors through underground ruins teeming with a stunning civilization of sea creatures. Wander the amazing 34-acre waterscape, where you can climb a 6-story Mayan Temple, only to come splashing back down on a choice of five thrilling water slides. Enjoy 11 swimming areas, drift down the lazy river ride, or investigate the secrets of the 7-acre snorkeling lagoon. And for kids, there’s the spectacular Discovery Channel Camp, a groundbreaking children’s program combining the educational format of the Discovery Channel with the natural resources of Atlantis. Combine all this with a full service spa, a sports center, marina, haute couture shopping and 38 restaurants and lounges, and you’ll soon discover why Atlantis is not just a hotel, but also an entire vacation destination!   In addition, there are 9 swimming areas, a 7-acre snorkeling lagoon, and a massive sports center. 

Just across the bridge from Nassau (New Providence Island), the resort is surrounded by miles of beautiful beachfront, and set amidst a mythical landscape designed to recreate the beauty and grandeur of the legendary civilization of Atlantis.

Accommodations

The most unique accommodations on the Island are the apartment homes.  There is a variety of floor plans available, and three communities to choose from (i.e. Park Avenues, The Preserve and The Gables).  Not sure which community or floor plan is best for you and your family?  Paradise Island’s professional staff will help you to decide!

In addition, there are over 3,320 guestrooms providing lavish to moderate accommodations to meet the needs of any vacationing family.

Atlantis (Accommodations)

The Beach Tower (423 rooms) offers the most moderately priced accommodations at Atlantis.  The rooms are designed with flowers and lush greenery in a casually tropical décor.  Each room has a view of either the terrace or water.  The beach is just a short distance away as well as the River Pool, Seagrapes Lagoon and the Lazy River Ride.

The Reef Atlantis (495 rooms) is located directly on Paradise Beach. If you are staying here, you will enjoy the beautiful white sand and ocean literally in your backyard.  The Reef Atlantis guest rooms are considerably large in size and equal to any residential apartment you might find on any popular beach.

The Coral Towers (656 rooms) are the most centrally located within the resort. Each contemporary designed room features a full balcony and also has either a terrace or water view.  The lounge and atrium are adorned with over-stuffed couches, tranquil fountains, skylights and marine life sculptures.

The Cove Atlantis (600 rooms) located in a 22-story tower, with all suites having an ocean view.  Additionally, the superior suites overlook two beautiful beaches, the Cove and Paradise Beach.  The Cove Atlantis provides beautiful panoramic water views, great amenities, comfort and great customer service by its staff! 

The Royal Towers (1201 rooms) are the most elegant and upscale. The rooms have French balconies that overlook the ocean, harbour, gardens and pools.  Beautiful fountains, sculptures and murals are located adjacent to the casino, gourmet restaurants and shops.  The lobby features magnificent waterscape views welcoming you home each night of your stay.

Whether you want to get away for a brief weekend in a paradise setting, or take a whole week with family and friends to take in all that Paradise Island has to offer, I am confident that you wont be disappointed!  There is something for everyone, and its all waiting for you at Paradise Island!

To learn more about Timeshareflex, please visit our website.

HOW TO BUY A TIMESHARE IN THIS ECONOMY

Lets face it, the economy has been on the decline for the past 2 – 3 years, and it doesn’t appear to be improving anytime soon.  The good news is that if you’re in the market to purchase a timeshare property, there are many opportunities to purchase at extremely low prices.

Property Developers Tour

If you wish to take the tour of a timeshare property that you may be interested in (usually 90 minutes or more), make sure you clearly understand all of the amenities that are provided with timeshare ownership on this property.  Keep in mind that timeshare property developers charge a premium for the sale of their timeshare properties, that in many cases, is extremely high compared to current market conditions.  There is no secret that timeshare property sales are down, especially when purchasing thru the property developer.  Now, what is the upside of taking a tour anyway?  Simple.  The tour provides you with a personal tour of the property, the ability to see all of the amenities, and finally, and most important, to take a look at the actual timeshare units floor plans.  This insight will certainly help you to make a wise decision if you wish to purchase at this timeshare property.  Now, I am not saying that you should not purchase a timeshare property direct from the property developer; however, when the tour is over, and it’s time to sit at the table to negotiate a purchase price, keep in mind current economic conditions, so that you walk away with a comfort level of what you just purchased for the price that makes good economic sense.  Are you a good negotiator?  Have you already made up in your mind what you are willing to pay for a timeshare property?  Well then, don’t loose site of your intentions, stay focused, and you will either purchase for your target price or “walk away”.

Timeshare Sales (online)

I can’t begin to tell you how many timeshare sales companies there are online.  If you love to surf the web, you will literally find hundreds of website that handle the resale of timeshare property.  Many of them also handle rentals and exchanges of timeshare property as well.  Timeshare resale’s are definitely on the rise.  Prices of resale timeshare property have dropped tremendously and there are many great deals on the resale market.  In fact, it is not surprising to find resales for up to 70% less than property developer pricing.  Many of these online timeshare websites handle the sale from start to finish including the handling of the actual closing.  They usually deal with a title company that specializes in the resale of timeshare property. 

Once you have decided what website is going to handle your transaction, make sure you know who you are dealing with.  Use your search engines to see if there are any complaints about any of these websites and if so, read the complaints to try and determine if they are in fact valid complaints.  If you still wish to deal with an online company that has complaints, don’t be afraid to address them with the online company to see how they respond.  Remember, these sites charge a fee to handle your transaction, whether it is to buy, sell, rent or exchange timeshare properties.  It’s your money and your time, so use both wisely!  And finally, make sure you clearly understand all fees involved in the purchase of a resale timeshare property

Timeshare web-based ad listing services

There are many timeshare web-based listing services online.  Most charge a fee of some sort, whether it be a setup fee, ad listing fee and in many cases, hidden fees.  Most provide a listing service for the resale of timeshare property as well as the rental and exchange of timeshare property.  Some provide a category for the purchase of timeshare property in specific geographic locations (desired vacation spots).  The good news is that these sites allow anyone surfing the web to view these listings for FREE!  You will find resale pricing here to once again, be as low as 70% off property developer pricing. 

Some sites require a membership or registration in order to view these ads.  Keep in mind, that once you provide this information, even though you may just want to browse the site, you are opening yourself up to receiving email and possible postal service mail as either a follow-up to your visit to their site, or for the purpose of attempting to gain you as a subscriber of their online services.  The sites that avoid this situation are ones that only ask for a name and an email address of the subscriber, so that you, as the viewer, can contact the subscriber direct thru email ONLY!  Lets face it!  It’s all about marketing, and in this economy, online owners of these sites will do whatever they can to get your business.  Now, none of this information is bad.  In fact, its what the web is all about, and that is marketing in every way possible to put their website name out there. 

As I said before, if you are interested in working with a particular website as an ad-listing service only, then do your homework, surf the web, see if there is any derogatory information about them, and then follow-up accordingly.  A little extra time spent investigating a potential website may save you a considerable amount of money and aggravation later!

On a final and most important note, once you have decided on the purchase of a resale timeshare property, and are willing to pay the price offered, use the services of a title company that deals in timeshare property.  In many cases, depending on the property, there are many little details to cover that only a timeshare professional or Title Company will be familiar with.  Using a professional timeshare Title Company or representative will make your transaction successful without the worry!

To learn more about TimeShareFlex, please visit our website.

www.timeshareflex.com

Our website was designed with simplicity of navigation in mind.  This web-based listing service provides the opportunity for owners of timeshare property to post an ad to sell, rent or exchange their timeshare property for a very minimal fee of just $49.95 for a six-month listing.   Since this is a new website, we have an introductory offer of just $1 for a one month listing.  This is a limited time offer!  For individuals who either do not own a timeshare property or wish to purchase another, we have provided a “wish” category, so that you can place an ad to purchase in a specific location.  Owners who wish to sell in that location, but have not listed their property to sell, have the option of contacting you to negotiate the sale.  There is NO CHARGE for placing an ad under the “wish” category!

Blue Week vs. Red Weeks Timeshare (Equity Explained)

Blue Week (Definition)  Blue week properties is a term for a low demand week at a timeshare resort.

Red Week (Definition)  Red week properties enable the timeshare owner to use them during peak travel seasons.  Keep in mind that “peak seasons” are also defined by the location of the timeshare resort.  They are also referred to as high demand timeshares.  These properties are more appealing than blue week properties (low and medium demand), as they enable the owner to travel during periods that are in high demand.

Equity – There is no secret that Red Week timeshare properties have considerably more equitable value than Blue Week timeshare properties.  In fact, in many cases, if you own Red Week properties at a particular resort, you can trade your Red Week for 2 or more Blue Weeks at the same resort.  Additionally, exchange companies such as RCI and Interval International, will exchange your Red Week for 2 or more Blue Weeks at other resorts.

As far as dollar value, Red Weeks will cost more both directly thru the property developer as well as on the resale market; however, keep in mind that they are in more demand as they are available during peak seasons.  When making a purchase of a Red Week, make sure you clearly understand the location of the resort to determine when peak season is!

If you are more interested in purchasing a Blue Week, and understand that your week is ONLY available during the off-season, your purchase price will be considerably less and some of the amenities as well as tourist attractions “may” not be available during the off-season.  Weather conditions certainly can be a key issue in purchasing during the off-season as well; however, If you seek the quiet and restful vacation that an off-season purchase provides, than you will not be disappointed.  Many people enjoy the Blue Week purchase to avoid the crowds, the traffic, and frankly just have the desire to “get away from it all”!

Resale Value (Red Week vs. blue Week)

Timeshare resales are currently doing very well, with discounts on both Red Weeks and Blue Weeks for as much as 40% to 65% off developers prices.  If you are considering the resale purchase of timeshare property, make sure you know when peak and off-peak seasons are for that resort.  This will make a big difference in the price that you are willing to pay for that timeshare resort.  By doing your homework, you will save hundreds, and in many cases, thousands of dollars over developers pricing for a timeshare resort during the season that you and your family will enjoy.

To learn more about Timeshareflex, please visit our website.

San Juan, Puerto Rico

San Juan is the largest city in Puerto Rico and the oldest city in the United States.  Some of the top attractions include “Old San Juan” and the World Heritage Fortress.  Many forts and buildings in historical San Juan date back as far as the 1500s. San Juan also has some great museums and galleries.  One of the best is called the Museo de Arte.

San Juan has many ocean cruises departing to the eastern and southern Caribbean.. It is also the gateway city to Puerto Rico’s many beautiful beach resorts.

Great hotels and resorts can be found in San Juan and surrounding communities. Beautiful beaches, plazas and historical sites can also be found throughout Puerto Rico.

The San Juan Airport  (Luis Muñoz Marín International Airport) is the largest airport in the Caribbean.  Many domestic, international and inter-island flights originate from the San Juan airport.

Old San Juan

Old San Juan is a popular destination for tourists to Puerto Rico’s capital city.  A good selection of fine hotels can be found in this area of town.  Old San Juan offers great prices on hotels for as little as $399 for a 5-day stay in a five-star hotel. 

Old San Juan is comprised of an area of seven city blocks. Many of the buildings in this area date back some 500 years. San Juan Puerto Rico was originally established as a Spanish military base. 

The most popular tourist attractions in San Juan Puerto Rico include the following forts, parks, churches and gardens:

• Botanical Garden (Jardín Botánico)
• Capilla de Cristo
• Casa Blanca Mansion
• Casa del Libro Mansion
• El Arsenal 
• El Morro Citadel (El Castillo San Felipe del Morro – 16th century)
• Fortress (La Fortaleza)
• La Casa del Libro
• Luis Muñoz Marín Park
• Muñoz Rivera Park
• Old San Juan
• Saint John the Baptist Catedral (Catedral de San Juan)
• San Felipe del Morro Fort (Castillo San Felipe del Morro)
• San Cristóbal Fort (El Castillo de San Cristóbal)
• San Jerónimo Fort (Castillo de San Jerónimo)
• San Jose Church (Iglesia de San Jose – built in 1523)
• San Juan Bautista Cathedral (El Catedral de San Juan Bautista)
• San Juan Central Park (Parque Central Municipio de San Juan)
• San Juan City Hall (Ayuntamiento or Alcaldia)
• Tapia Theatre (El Teatro Tapia)
• Time Out Family Amusement Center

The most popular museums and art galleries in San Juan, Puerto Rico are the following:

• African Heritage Museum (Museo Nuestras Raíces Africanas)
• Ateneo de Puerto Rico Museum
• Ballaja Museum (Museum de Ballaja) – in the Spanish Barracks
• Children’s Museum (Museo del Niño)
• Felisa Rincón de Gautier Museum
• La Princesa History Museum (formerly a jail)
• Museum of Art (Museo de Arte)
• Museum of the Americas (Museo de las Américas)
• Pablo Casals Museum (Museo Pablo Casals)
• San Juan Art and History Museum (Museo de Arte e Historia de San Juan)

The San Juan Islands are blessed with at least 247 days of sunshine per year. From whale watching off the coast of Friday Harbor to visiting the art galleries at Ocra Island, there’s something for everyone in this beautiful vacation destination.

Timeshare Property

One way to ensure that you’ll be able to travel to your favorite San Juan island is to purchase timeshare property there. Timeshares make it possible for you to secure prepaid, weeklong annual or biennial (every other year) vacations at the resort of your choice. They’re generally more convenient and cost-effective than renting a hotel room.  The units are generally larger and much better equipped than a hotel with many more amenities.

Timeshare Rentals 

If you’re interested in timeshares, you might want to rent a timeshare property first to determine if the lifestyle is right for you. When you rent, you can reap many of the benefits of ownership without having to sign a contract. You can find great timeshare rentals on the online resale market.  You can also find great deals on timeshares for sale. 

Timeshare resale purchase 

The online resale market is generally the most widely accessible place to find great deals on timeshares for rent and for sale.  You will find sale prices to be as much as 65% – 75% less than purchasing direct from developers. 

If you enjoy the ocean view, like to visit museums, forts and historical sites, then this destination spot may be the perfect vacation for you and your family!  Dont forget your digital camera!

To learn more about Timeshareflex, please visit our website.

Why Resale Timeshare Units are a Better Deal for the Savvy Buyer

Definition:  A timeshare resale is simply a timeshare, which is being sold by the current owner well below retail resort pricing.

Even if you don’t attend a timeshare presentation, when you purchase directly from a resort, you pay to absorb all of the administrative and marketing fees associated with the sale of the property. When buying from a current owner, you pay only the fair market value of the timeshare.  This discounted price can be anywhere from 40% – 65% below the developer’s price.  Pricing of timeshare resale weeks varies depending on a variety of factors. These factors include, but are not limited to, the time of year, geographical location, resort’s amenities, size of the unit, unit amenities, and of course, market demand.

Rights of ownership (such as membership in the resort owners association) are transferred directly from the current owner to you when you purchase on the timeshare resale market.

Exchange company membership is one of the features typically not transferred to the buyer through the purchase of a timeshare resale, unless specifically stated in the sales contract.  Make sure you clearly understand the additional cost associated with exchange company membership, as you will find many vacation advantages of becoming a member!

Lets briefly talk about the points system as it relates to the timeshare industry.  Points are a unit of measurement sometimes used to determine the value of a timeshare interval. Points are assigned based on a week’s desirability in terms of season, size of the unit, amenities and location. The more desirable or in-demand a resort week is, the more points it is worth.  If you are considering purchasing from an owner whose timeshare resale is part of a points-based system, don’t fret that you will not enjoy the same benefits that traditional timeshares afford owners. Many respected multi-destination resort groups such as Wyndham Vacation Club use points-based programs to provide their owners with flexible usage options that allow them to stay for a shorter or longer period than the traditional weeklong timeshare interval.  Vacation Clubs are a type of vacation ownership (often referred to as a membership) that commonly utilizes a points-program. Vacation Club members are given points each year which can be used at resorts within the Vacation Club’s network. As with traditional timeshares, Vacation Club memberships can be sold on the resale market, since a legal deeded or RTU (Right to Use) contract (see below for a detailed explanation) is the designation of ownership.

Deeded timeshares are treated just like traditional deeded real estate. In other words, once you have purchased a timeshare resale, you own it in perpetuity. It is yours to use, give away, rent out, sell or leave to your heirs. When purchasing a deeded timeshare resale, be sure that the new deed in your name is recorded in the county where the vacation property is located.

In locations where deeded ownership of vacation properties is not permitted by law (primarily outside the United States) the owner is given a contract very similar to a lease which defines a set time during which the owner has claim to the property. RTU contracts commonly encompass time frames ranging from 20 to 99 years. If you are thinking of purchasing a RTU timeshare resale property, be sure you know how many years of usage are left on the contract before initializing a sales transaction.

A maintenance fee is a mandatory fee that the resort management company or homeowners association charges its owners for the upkeep of the timeshare property. This fee most often covers property taxes, utilities, insurance, and any other maintenance expenses. Maintenance fees are generally levied on annual basis, however certain resorts may levy them monthly or biennially.  When purchasing a timeshare resale, you will pay annual maintenance fees as well as any other associated fees for the property in which you have purchased.

How to close the deal on resale timeshare property:  Complete timeshare closing and title transfer services are available from a variety of well-respected companies. Their services can be all-encompassing including, but not limited to, deed preparation, management of the escrow of funds, and preparation of timeshare estoppel certificates and closing statements, or they can handle any single aspect of the closing which you do not feel capable of handling yourself. We always recommend using a respectable title company that deals exclusively in timeshare properties.  Buyers of timeshare resales are expected to pay most fees associated with the closing and transfer of the title.

So, in closing, if you are a savvy buyer, looking for a great deal on resale timeshare property, do your homework, do the math, and come out a winner!  You could save thousands over what the property developers get from retail resort pricing!

To learn more about Timeshareflex, please visit our website.

Why Have Timeshare Resorts Become So Popular?

Timeshare properties are becoming more and more popular due to the fact that there is more flexibility in the use of timeshare property, such as the ability to vacation at other locations thru exchange companies that are affiliated with the timeshare industry.  Additionally, the nature and design of the timeshare properties has become more desirable due to the fact that they are offering many amenities that were not offered in the past such as golf, tennis, bicycling, several swimming pools, walk trails, and dining on property.  Most timeshare properties are located conveniently near theme parks and popular vacation spots throughout the world.  Timeshare ownership is becoming a rapidly growing sector of the tourism industry.  Did you know that in 2007, sales revenue reached in excess of $10 billion?  This was an increase of over $2.5 billion in 1997.  Over 615,000 timeshare intervals have been sold in the United States since mid 2009.  The current average price of a timeshare sold in the United States is in excess of $18,400.  Simply, this means that timeshare ownership is less expensive than it was 10 years ago, and yet, offers more for the vacationing family.

Worldwide, timeshare properties exist in almost 100 countries.  In the United States, there are over 1800 resorts representing over 192,000 units. 

Timeshare properties are available as deeded property in a single location; however, there are variations such as non-deeded ownership, fractional ownership and points-based programs now available at many timeshare resorts.  Many timeshare properties are associated with popular hotel companies to include Disney, Marriott and the Wyndham hotels.  Many of these timeshare resorts have associations with exchange companies such as RCI and Intervals International.  These exchange companies offer the flexibility of allowing you to swap your week in your “home” timeshare resort for a week at another geographical location.

Always keep in mind that timeshare property has one principle in common; that is you are purchasing the “right” to stay in a condo or house in a vacation destination for a designated period of time.

The timeshare industry is one of the most regulated industries.  There are several consumer-protection laws pertaining to the sale and ownership of timeshare property.  This is your assurance that “you get what you pay for”.

So, in closing, keep in mind that timeshare property is NOT an investment in real estate property, but in your future vacations!  If you are seeking the vacation lifestyle of a luxurious condo or home, and want all of the amenities associated with them, then timeshare ownership may be the right choice for you and your family!

Orlando Vacations

Orlando has been known, for many years, to be one of the most popular vacation spots in the world.  With over 100 hotels and motels located throughout the city, finding accommodations is never a problem for a pleasant vacation experience.  During the past few years, hotel and motel prices have been reduced giving the vacationing family more bang for the buck!

Orlando, Florida, has over 55 timeshare properties located within 30 minutes of downtown Orlando.  Universal Studios, Islands of Adventure, Sea World, and Disney’s Magic Kingdom (Disney World, EPCOT, Animal Kingdom, and Disney’s Hollywood Studios), are located within minutes of all of these timeshare properties.  Oh, and lets not forget the water parks that include Disney’s popular Blizzard Beach and Typhoon Lagoon. 

There are several shopping malls located conveniently within 20-30 minutes of Orlando’s timeshare property locations including the Florida Mall and the Millenia Mall that just opened a few years ago featuring many of Florida’s high end stores.

Your vacation would not be complete without the ultimate dining experience.  Orlando offers some of the finest dining in the world from five-star restaurants including Emeril’s Restaurant located at Universal CityWalk to some of the most unique hamburger shops available such as Hollywood Studios Sci-Fi Dine-In Theater, where dining takes on a whole new experience providing you with old Sci-Fi movie clips while you dine in vintage ’50s “convertible” tables. 

If your vacationing in Orlando, take in the sites, the theme parks, the restaurants and shopping, but plan on spending several days to see it all!  You wont be disappointed!

To learn more about Timeshareflex, please visit our website.

To Buy or Not To Buy?

Before you decide whether to buy timeshare property or not, make sure that the concept makes good economic sense.  What you don’t want to do is fork over money for a timeshare property that you will never use or not use enough to justify the cost.  If your situation does not allow you to plan vacations in advance, then timeshare ownership may not be right for you. 

Keep in mind, that in addition to your monthly cost for ownership (unless you are paying cash up front for the full value of the purchase), you also have annual maintenance fees, which in many cases range from $700 to well over $1000 annually.  There may be other additional fees as well.  If you are considering the purchase of timeshare property, make sure you clearly understand what those additional fees are.

Timeshare property ownership is not an investment in real estate.  It’s an investment in your future vacations. You should buy one for the use you can get out of it, not for market appreciation.  Timeshare property looses its value as soon as you close the deal.  The real value of timeshare ownership lies in what you are getting for your money.  As long as you clearly understand that concept, then timeshare ownership may be a wise investment.

Timeshare ownership also provides you with various exchange company memberships giving you the flexibility of vacationing at other timeshare resorts all over the world.  If your desire is to purchase, make sure you understand the exchange company’s programs and any associated fees that may be involved for taking advance of vacationing at other timeshare resort properties.

So, in closing, before you take that 90 minute tour at a timeshare property, make sure you justify in your mind, what timeshare ownership will do for you and your family.  Some of the questions you should ask yourself are:  Do you plan to vacation at the same resort each year, or would you rather choose various destinations annually?  Does the exchange program give you the additional flexibility that you want for your vacation destinations?  Does timeshare ownership provide you with the flexibility when planning your vacations?  Is it right for you?  Take your time, do the research, and you will make the right decision!

To learn more about Timeshareflex, please visit our website.

Welcome to my Blog on the TimeShare Industry

I would like to start off by saying that the timeshare industry has changed dramatically over the past several years.  The timeshare industry is growing by leaps and bounds.  Timeshare ownership is becoming more attractive as there is more flexibility in the design and functionality of what the timeshare industry provides for the vacationing family.  As the industry continues to grow, the timeshare properties now offer many more amenities such as golf, tennis, basketball, paddle boats, swimming, bicycling and even on-property dining.  You will find that the timeshare property locations have become conveniently located closer to popular vacation hotspots all of the world.  My Blog is designed to provide you with the latest information regarding the timeshare industry.  Postings will be added regularly and updated as needed!

To learn more about Timeshareflex, please visit our website.