Resale Value
cathyw29 wrote:I bought a one-bedroom Executive Suite in year 2005 with 30 yr. term with PBSB developer. I want to sell it now, does anyone have any idea how much it worth for the resale price? Thank you.
I think the best thing you can do is keep your eye on what the resale values are on this site. Keep in mind that you're probably not going to recoup your investment if you bought directly from the developer. You might also contact the developer to see if they have a program for resales, but like i said, it won't be worth what you paid for it. Good luck!
Christ A.
christa76 wrote:cathyw29 wrote:I bought a one-bedroom Executive Suite in year 2005 with 30 yr. term with PBSB developer. I want to sell it now, does anyone have any idea how much it worth for the resale price? Thank you.I think the best thing you can do is keep your eye on what the resale values are on this site. Keep in mind that you're probably not going to recoup your investment if you bought directly from the developer. You might also contact the developer to see if they have a program for resales, but like i said, it won't be worth what you paid for it. Good luck!
Thank you for your reply. I tried to resale my unit through the developer, and they could only refer me to the so called marketing companies on their list. I selected one of them and required to pay an upfront fee of $499 to sign a two-year contract. This company said they would use this money as an advertisting cost and internet marketing. However, I never got a call from this company and received any rental inquiry after the account was setup. I later I found out the lady took care my account was no longer working in that company, and nobdy knew what's going on with my account. Again, the developer referred me to a guy at a local marketing company, called Elite Travel..... He told me he has many buyers for resale unit and had full of confidence that he could sell it for me but required me to pay $499 with a two-year contract for advertisement and etc... Also, this company never keep me updated about my unit. It has been over 1 year now that I have to be actively follow up with him, RETIRED!!. When I called him in February, he told me that the resale price for my unit only worths $8,000-$10,000 instead of $15,000 at the time when I setup the account with him. Taking further lost, I am willing to sell it at $13,000 but I still haven't heard from him until now. I just want to advise that we have to be very cautious when using these advertisement/marketing companies who required to collect an upfront fee of $499 and then 7% commission when sold although they were recommended by the resort developer. Anyway, I don't believe this will happen, I just have to try another way.
Cathy W.
cathyw29 wrote:christa76 wrote:cathyw29 wrote:I bought a one-bedroom Executive Suite in year 2005 with 30 yr. term with PBSB developer. I want to sell it now, does anyone have any idea how much it worth for the resale price? Thank you.I think the best thing you can do is keep your eye on what the resale values are on this site. Keep in mind that you're probably not going to recoup your investment if you bought directly from the developer. You might also contact the developer to see if they have a program for resales, but like i said, it won't be worth what you paid for it. Good luck!
Thank you for your reply. I tried to resale my unit through the developer, and they could only refer me to the so called marketing companies on their list. I selected one of them and required to pay an upfront fee of $499 to sign a two-year contract. This company said they would use this money as an advertisting cost and internet marketing. However, I never got a call from this company and received any rental inquiry after the account was setup. I later I found out the lady took care my account was no longer working in that company, and nobdy knew what's going on with my account. Again, the developer referred me to a guy at a local marketing company, called Elite Travel..... He told me he has many buyers for resale unit and had full of confidence that he could sell it for me but required me to pay $499 with a two-year contract for advertisement and etc... Also, this company never keep me updated about my unit. It has been over 1 year now that I have to be actively follow up with him, RETIRED!!. When I called him in February, he told me that the resale price for my unit only worths $8,000-$10,000 instead of $15,000 at the time when I setup the account with him. Taking further lost, I am willing to sell it at $13,000 but I still haven't heard from him until now. I just want to advise that we have to be very cautious when using these advertisement/marketing companies who required to collect an upfront fee of $499 and then 7% commission when sold although they were recommended by the resort developer. Anyway, I don't believe this will happen, I just have to try another way.
How about advertising right here on Redweek?
Christ A.
Your best bet is to offer it for RENT. At least you get your annual maintanence fee. You were taken advantage of by the "Up front fee" resale people. Once they get your upfront money, they can retire! Especially since they got you to list it with them for more than it would sell for. A rule of thumb for units purchased full price from a developer...when there are plenty of units of the same size in the area and at the resort and available..is 50% of purchase price. The less common size units of which there are fewer hold their value better unless there are other resorts in the same area that have units the same size for sale and are offering major incentives to naieve new purchasers.
M. w. S.
Cathy the average sales price for a 1 bedroom is around 4500-5500 depending on what site you go to. One just sold on TUG for 3999. Best thing to do if you don't want to take a big loss is reserve prime winter weeks a year ahead and you should be able to rent the week for about 12-1400 and recoup some of your money.
Harold N.
We recently went to an owners luncheon when we visitied the resort. We own a 2 BD in the odd years. If you can hold your own for the next couple years with renting for costs they say once the two golf courses open and the space is sold out you should be able to have value. That should happen in the next couple years and you could at least sell for what your purchase price was.
It is unpredictable since we lost a bundle with Pueblo Bonito Blanco because the maintainance fees were not controlled. We are pleased with this property and glad we own in odd years since we don't routinely vacation there every year.
Anne G.
arturia wrote:We recently went to an owners luncheon when we visitied the resort. We own a 2 BD in the odd years. If you can hold your own for the next couple years with renting for costs they say once the two golf courses open and the space is sold out you should be able to have value. That should happen in the next couple years and you could at least sell for what your purchase price was.It is unpredictable since we lost a bundle with Pueblo Bonito Blanco because the maintainance fees were not controlled. We are pleased with this property and glad we own in odd years since we don't routinely vacation there every year.
Then again, consider the source of that information. Of course they're going to tell you that. The most common advice I've gotten about timeshares is that they should never be bought for investment purposes. I hope I'm wrong, but I'll enjoy it nonetheless.
Christ A.
"They at the resort said that when we bought in 2003, over 4 years ago. The space is not sold out (They build more units each year...like Monte Christo and the newest development) and the golf courses are still not built. We like the resort but now ignore puffery from the sales folk who just want you to buy more and more. FACT is that you pay inflated price when you buy new from the resort .
arturia wrote:We recently went to an owners luncheon when we visitied the resort. We own a 2 BD in the odd years. If you can hold your own for the next couple years with renting for costs they say once the two golf courses open and the space is sold out you should be able to have value. That should happen in the next couple years and you could at least sell for what your purchase price was.It is unpredictable since we lost a bundle with Pueblo Bonito Blanco because the maintainance fees were not controlled. We are pleased with this property and glad we own in odd years since we don't routinely vacation there every year.
M. w. S.
Resale depends on where you resell and your level of patience....if you put on ebay, you will get $2500-3500 for a 1BR/2BA Annual. If you sell on your own via redweek, tug2 and myresortnetwork.com, you should be able to land around $7000. I think the $3999 quote is too low....that sounds like a desperation sale to me.
Chris S.
Do the prices listed next to sold properties represent the original posted asking price or the final sale price? For example, I see that a two bedroom recently sold and has $12,000 as the price on the site. Is that what it sold for or what it was advertised for before the parties started negotiating the sale?
Thanks! Celeste
Cmw H.
cmwh wrote:Do the prices listed next to sold properties represent the original posted asking price or the final sale price? For example, I see that a two bedroom recently sold and has $12,000 as the price on the site. Is that what it sold for or what it was advertised for before the parties started negotiating the sale?Thanks! Celeste
Hi Celeste,
The price listed on RedWeek.com is the price the owner listed it with before the transaction. We don't know what the final prices are for timeshares that are sold since we aren't involved in the actual transaction.
Thanks, Marty
Marty F
I was at the resort in May and the sales people were trying to pitch an upgrade to a 2 bedroom. (I currently own a 1bedroom). They wanted an additional $12,000. I told them I could buy a 2 bedroom unit on Redweek for less than this price plus own an additional week. The sales guy told me that when you resell your timeshare you are blacklisted from the resort...meaning when you try to book your vacation it is extremely difficult to get a week. Does anyone know how true this is. I don't believe anything those sales people tell me.
Theresa H.
theresah21 wrote:THAT IS CRAZY. WE own at PB Rose and Sunset Beach both and we also own resales from various resorts. Noone blacklists people from renting or trading in or using units at these resorts. I would get the name of the salesperson who claimed that and BLACKLIST HIM on every message board there is. Some sales people are desparate to make a sale to keep their own jobs!I was at the resort in May and the sales people were trying to pitch an upgrade to a 2 bedroom. (I currently own a 1bedroom). They wanted an additional $12,000. I told them I could buy a 2 bedroom unit on Redweek for less than this price plus own an additional week. The sales guy told me that when you resell your timeshare you are blacklisted from the resort...meaning when you try to book your vacation it is extremely difficult to get a week. Does anyone know how true this is. I don't believe anything those sales people tell me.
M. w. S.
arturia wrote:We recently went to an owners luncheon when we visitied the resort. We own a 2 BD in the odd years. If you can hold your own for the next couple years with renting for costs they say once the two golf courses open and the space is sold out you should be able to have value. That should happen in the next couple years and you could at least sell for what your purchase price was.It is unpredictable since we lost a bundle with Pueblo Bonito Blanco because the maintainance fees were not controlled. We are pleased with this property and glad we own in odd years since we don't routinely vacation there every year.
Arturia, Yes, I was told by another company that the unit only worths $5,000 which has depreciated quite a bit. According to PBSB, the maintenance fee increases 2% every year which will reflect on our 2008 statement. Also I have never heard back from Elite Marketing Co. about the sale status. The sales rep. at PBSB recommended me to use these companies, anyway, don't trust any of these since I had to call them each time for the update after the marketing was paid.
Cathy W.
theresah21 wrote:I was at the resort in May and the sales people were trying to pitch an upgrade to a 2 bedroom. (I currently own a 1bedroom). They wanted an additional $12,000. I told them I could buy a 2 bedroom unit on Redweek for less than this price plus own an additional week. The sales guy told me that when you resell your timeshare you are blacklisted from the resort...meaning when you try to book your vacation it is extremely difficult to get a week. Does anyone know how true this is. I don't believe anything those sales people tell me.
Stick to the resale market as we have had great success. I have sold and rented on Redweek and my sister bought a studio in the odd years to compliment our 2 bedroom we paid full price for. I book hers and mine at the same time and if you buy and have the deed they don't mess around like black-listing. My sister went to the owner's luncheon and they were treated like original owners and the sales reps trying to up-grade them didn't have a clue that they were not original owners.
Buy after market for sure for a better investment.
Anne G.
arturia wrote:theresah21 wrote:I was at the resort in May and the sales people were trying to pitch an upgrade to a 2 bedroom. (I currently own a 1bedroom). They wanted an additional $12,000. I told them I could buy a 2 bedroom unit on Redweek for less than this price plus own an additional week. The sales guy told me that when you resell your timeshare you are blacklisted from the resort...meaning when you try to book your vacation it is extremely difficult to get a week. Does anyone know how true this is. I don't believe anything those sales people tell me.Stick to the resale market as we have had great success. I have sold and rented on Redweek and my sister bought a studio in the odd years to compliment our 2 bedroom we paid full price for. I book hers and mine at the same time and if you buy and have the deed they don't mess around like black-listing. My sister went to the owner's luncheon and they were treated like original owners and the sales reps trying to up-grade them didn't have a clue that they were not original owners.
Buy after market for sure for a better investment.
They don't know and don't care as long as you pay the maintenance fees. Why would they as they have gotten the price from the original buyer. I own various weeks at different Pueblos which I have purchased all resale and I am treated most graciously by the resorts each year when I return.
Harold N.
$4500 for a quick sale (sell within a month)- You can probably fetch $5500 if you are willing to wait 6-12m. All depends on how many are for sale on this site and others. Doubt you will get much more than that on resell. You can expect $1500-2000 less for an immediate sale on ebay.
cathyw29 wrote:I bought a one-bedroom Executive Suite in year 2005 with 30 yr. term with PBSB developer. I want to sell it now, does anyone have any idea how much it worth for the resale price? Thank you.
Chris S.