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milkmania
07-19-2005, 02:56 PM
I hear about Time Shares a lot.... for apartments & condos
how do they work?
what's the overall concept? ie contracts
what are the pros & cons?

are the a good thing or a bad thing?

bcampbe7
07-19-2005, 03:04 PM
I hear about Time Shares a lot.... for apartments & condos
how do they work?
what's the overall concept? ie contracts
what are the pros & cons?

are the a good thing or a bad thing?


Everyone that I know that has a timeshare does not use it enough to get any real benefit out of them.

6ballsisall
07-19-2005, 03:08 PM
It depends if you use them or not. Ive owned one since 1998, a ski in ski out Condo in Breckenridge Colorado that is absolutely pristine. Unfortunately I have only used it 1 since then. It has appreciated in value as I bought when it 1st was being built but again we don't use it enough to justify it in my eyes. The writeoff is nice since with ours we actually own deeded property though. If you want to buy it, it's for sale! :D

bcampbe7
07-19-2005, 03:14 PM
If you want to buy it, it's for sale! :D


How bout use it???

LakePirate
07-19-2005, 03:15 PM
Marriott has a new time share deal that is pretty cool. It can actually be passed down through the family. We have had timeshares for most of my life and they are pros and cons to each

Pros:
1) Guaranteed week you are going to be on vacation.
2) A nice establishment (hopefully) that you can enjoy time and time again.
3) You become friends with your neighbors and enjoy spending time with them.
4) You can put it to "swap" via one of the services i.e. RCI.

Cons
1) You are at the mercy of the management of the resort/club that you purchased the time share from. Lets say it was on a great golf course and they decided to no longer put in the money to keep it up. You lose
2) Swapping is done over a year in advance. Often times there are 12-24 month waiting lists to get the week and location that you want if you choose to swap.
3) You get tired of going to the same place over and over again.
4) If you do swap it can get expensive to pay all of the fees as well as not getting the same quailty housing that you traded in.

Just my .02$

BrianM
07-19-2005, 03:16 PM
If you are interested in a Timeshare DO NOT buy one from the developer. Instead by one on the secondary market for pennies on the dollar. But beware of the costs associated.

As stated above many people do not use them enough to justify the initial cost, mantenance fees etc. There is a very week secondary market which means that if you are a buyer one can be had cheep. But if you own one and are looking to get rid of it best of luck because you will take a bath.

Also if you are not absolutely positive that you can say no do not go to a timeshare presentation. These presentations are extremely high pressure and the closing rate for those that attend are very high. There is a reason that timshare sales are high pressure because they are extremely high profit.

In a timeshare your initial cost only pays for the right to use the property. Many times the weekly maintenance fee is nearly as much as it would cost you to stay at another hotel or resort that you didn't have to pay $10k or more for the right to make a reservation.

Timehsares make 0 financial sense.

Just my :twocents:

east tx skier
07-19-2005, 03:20 PM
Timehsares make 0 financial sense.


My wife runs into a lot of people who are invested in time shares. She's a bankruptcy attorney.

bcampbe7
07-19-2005, 03:24 PM
My wife runs into a lot of people who are invested in time shares. She's a bankruptcy attorney.

:uglyhamme :uglyhamme :uglyhamme

MarkP
07-19-2005, 03:24 PM
I listened to the "pitch" a couple of times to get the free whatever. That wasnít even worth it.:uglyhamme .

milkmania
07-19-2005, 03:28 PM
I listened to the "pitch" a couple of times to get the free whatever. That wasnít even worth it.:uglyhamme .



I once got 9 people into Silver Dollar City in Branson by listening to one of their presentations....

that one was worht it, but I know what ya mean about "high pressure sales"....
this guy bout ripped my pants legs off beggin:rant:

thanks for the advise guys, I just didn't see any true advantage to owning a time share and I feel better now.

MarkP
07-19-2005, 03:32 PM
I once got 9 people into Silver Dollar City in Branson by listening to one of their presentations....

that one was worht it, but I know what ya mean about "high pressure sales"....
this guy bout ripped my pants legs off beggin:rant:

thanks for the advise guys, I just didn't see any true advantage to owning a time share and I feel better now.
What you donít see the point,:eek: ? Donít worry its not good for you/buyer, (NO advantage)

Leroy
07-19-2005, 03:37 PM
I generally can find a place to rent where I want for about what a timeshare would cost. Plus I'm on my schedule then, not their's. I've also listened to several pitches and cannot see any value to buying one.

AirJunky
07-19-2005, 03:42 PM
What about shared ownership? Of a lakefront place or a house boat?

X2M
07-19-2005, 04:02 PM
My husband and I have owned a timeshare since 1995. And I can honestly say it was one of the smartest things we ever did. :twocents:

Ours is not like the normal ones where you only get one or two weeks a year at a place. It works on the the credit system. You purchase say 10,000 credits a year. Then you can choose how to use your credits for the year. The amount of credits used depends on where you go, how long you stay and what season you are going. We can go to places all over the US, Mexico, Australia and Fiji. It is paid off now and we can will it to our children or other family.

www.worldmarktheclub.com (http://www.worldmarktheclub.com)

Granite_33
07-19-2005, 10:06 PM
My wife runs into a lot of people who are invested in time shares. She's a bankruptcy attorney.


Nuff said. Bad investment.