We found this news video and article about getting out of a timeshare worth reading. It boils down to cutting your losses and not hoping you can get all of your money back. Wouldn’t you agree?
Are Timeshare Points, Credits Or Whatever You Call It Making Timeshare Exchanging More Difficult for Interval Owners?
This is our personal opinion based on our experiences with owning 3 deeded timeshare weeks.
The original concept of vacation timeshare ownership is owning specific deeded timeshare vacation property. This is what we own – specific weeks at 5 star resorts. We have owned three timeshare properties for 13 years and have never had a problem exchanging into other 5 star resorts. The vacations we’ve had through our exchanges have been extremely good and we’re always looking forward to the next one.
All our deeded vacation weeks were purchased for literally pennies on the dollar through the resale market. As members of (II) Interval International exchange network, we are well-satisfied.
In 2013, while vacationing at two timeshare resorts, we noticed something unusual. Oftentimes while sitting in the lobby area of our resort, we update our Timesharefun.com website. It gives us a flavor of the timeshare people coming and going in the check-in area.
It appeared that more and more timeshare owners were checking in during the middle of the week or on the weekend and staying for 2-3 days rather than the whole week as on the typical 7 day vacation with which we are familiar.
It also seemed that as these people were checking in, they were waiting longer and longer to register because the rooms were not ready. Think about it. Instead of one timeshare owner family staying for 7 days, you have maybe 2-3 timeshare owners with points staying shorter terms, meaning more housekeeping needed. Don’t forget, if you own points or credits, you still have to pay annual maintenance fees.
This may be the downfall of the original concept of timeshare where you exchange a 7 day for a 7 day vacation somewhere else. Here’s an example.
If you look in your timeshare resorts directory, you will find many resorts affiliated with both the Interval Exchange system and the RCI system. Think about it. You own a deeded Interval week and wish to exchange to a resort that is dual affiliated and with the RCI resort. RCI’s system is points. An RCI customer wants to exchange into one of the RCI resorts and only wants to use 3 days during the middle of the week. Another RCI member wishes to use 4 days on the week-end starting on Friday night. The whole week is used up by 2 or 3 different timeshare owners who use points.
Meanwhile, you own an Interval exchange week and wish to exchange into one of these dual-affiliated resorts. It takes longer and longer for Interval International to find a week for us because we wish to use a full week.
That’s where we find the downfall of timeshare as originally developed, particularly if you own a 7 day deeded vacation week.
We do not like the points or credit system. It seems to us that the point system is a giant money sucking machine for the corporations that started that concept.
Instead of selling 52 weeks of deeded timeshare property, these corporations are selling unlimited points out of thin air. What do they actually own? Our II weeks are deeded and recorded as real estate instead of as points.
When we are in one of our home resorts, my wife will often say, “We own this.”
Thanks for joining us,
Cary & Elaine
Be careful. Lots of questions about whether or not you will receive the original benefits that the original purchased. See information links below.
Information as reported by a Florida reporter Click Here.
Hey, be careful out there!
While the majority of vacation timeshares are found in locations where you’ll find swaying palm trees, white-sand beaches, and waves, some vacation rental companies are branching out into major metropolises like New York City, Boston, and Washington, D.C.
At least that’s the case with Marriott Vacation Club’s newest collection of timeshares. Called Marriott Vacation Club Pulse, this group of five properties is located in five major U.S. cities — New York, Boston, D.C., Miami, and San Diego — and each offers a more urban than resort-like experience. All of the locations, with the exception of the Boston one, are fairly new conversions and all have also undergone renovations or are being renovated now.
Marriott isn’t alone in expanding its timeshare collection to big cities. Read More…
Knowing the background of how the rich become richer in the timeshare industry has always been of interest to me.
About Sharket Research
Sharket has created an extensive database providing timeshare resale transaction data for more than 1,400 resorts. This information provides timeshare owners with the comprehensive timeshare resale data they need to make an informed decision about how to price their timeshare unit or whether to buy at a resort they’re considering.
As part of this free research service, Sharket measures, scores and ranks the world’s timeshare resorts based on resale volume and typical pricing at each resort. This “Saleability Score™” is calculated as the sum of a Median Price Score and a Sales Count Score at each resort, with a score of 1 being the lowest (worst) and 10 being the highest (best).
Sharket’s methodology is extensively documented on the Sharket website.
Sharket.com is a free resource with the world’s most comprehensive database of actual timeshare resales data. To help consumers understand how much their timeshare is worth, similar to Zillow for residential real estate or Kelly Blue Book for autos, Sharket offers a gold mine of data that shows recent sales transactions and the typical price a seller could expect based on the average of recent sales. In addition, the website displays a color-coded Saleability Score and Resort Rank as an aid to consumers in comparing resorts. Sales data is compiled primarily from county land records.
Sharket is providing public access to market value data in order to fuel efficient, reliable transactions. Sharket believes that educated consumers make the best timeshare owners. This information will benefit the entire industry in the long run, with the ultimate goal of drying up the fertile ground fraudsters and scam artists have been enjoying at the industry’s expense. “That’s why we decided to open up our database and make it available to everyone,” says Schmidt.
For more information, visit www.sharket.com.
Quite frankly sharing a timeshare resort with our family or extended relatives has never been a problem with my wife and I over the last 15 yrs or so, but this article has some interesting points that you should be aware of when inviting your relatives or friends. We have never asked for any contributions of the invited guest, whether our relatives or not, but to cook at least one meal in our timeshare unit during their stay. What beautiful times we have had with family members. Click here for this article “extra baggage”.