New Hilton Timeshare Under Construction in Myrtle Beach

March 22nd, 2014

Hilton Timeshare Myrtle Beach

There is a new Hilton under construction in the ever-popular Myrtle Beach, South Carolina.

The 220-unit timeshare is the first new lodging establishment to be built in Myrtle Beach since construction stopped during the Great Recession.  No new hotels were built in the city since 2009.

Remember to request very early if you’re planning to stay at this new resort next summer.

You can read the full article by clicking on: Hilton Timeshare.

The 10 Biggest Mistakes When Selling a Timeshare: Part 5

September 3rd, 2012
Buying Blue Sky

Buying Blue Sky

Mistake 9: Buying Into the Timeshare Resale Company’s Exaggerated Claims

It’s quite common for timeshare resale companies, even reputable ones, to quote the year to date dollar amount of offers i.e. “Year to date we’ve have had over $10 million in offers. Sounds impressive, doesn’t it?

To the unsuspecting timeshare owner this number, even if it is true, is very misleading. They think “wow, if  they have sold that much they will easily be able to sell mine!” So they sign a listing agreement and many times pay money upfront to do so and then wonder why months later there hasn’t even been one offer.

The deception is in the verbiage. $10 million in offers is radically different that $10 million worth of timeshares sold. Many timeshare resale companies regard just listing your timeshare on their website as an offer when in reality an offer consists of an interested third party actually expressing interest in starting the buying process either at the listed price of the timeshare, or more commonly, at a lower price.

The information you want to know before signing a listing agreement is how many dollars worth of timeshare they have actually sold YTD. If you want to see some fancy dancing by the listing agent, just ask that question. Getting a straight answer will be problematic.

If he does quote you a number ask him to email it to you just to see his reaction. If he won’t, call back a few days later and ask the same question to another agent. You’ll probably get a vastly different number and you will then know if the company is credible or not.

The next post will be a list of questions to ask timeshare resale companies to determine if they are legitimate.

Mistake 10: Selling Because You Are Desperate

Unethical timeshare resale companies know that there are a lot of desperate people wanting to unload their timeshare and they are very aggressive about contacting them. If you have a deed to your timeshare then it’s public knowledge and on record at the county courthouse. Scammers access the courthouse records to make lists of timeshare owners and sell the lists to timeshare resale companies.

If you’ve owned your timeshare for any length of time you have probably already received an unsolicited letter or phone call from a timeshare resale company. This is usually the sure sign that someone’s out to scam you out of a listing fee. The phone solicitors can be
particularly persuasive in convincing you that they will sell your timeshare quickly and for a tidy profit. Coincidently, they have a hot buyer who just so happens to want what you have and you’d better move fast before he buys from someone else. They’ll then suggest you list it over the phone and pay the listing fee so they can call the prospect with the good news.

The rest of the story goes like this. You never hear back from the agent nor can you reach him at the office. You’ve left many messages for him but he won’t return your calls. If you complain to someone they may tell you he no longer works there but not to worry because your timeshare is listed and will continue to be listed until sold.

Never go for the quick sale no matter how persuasive the agent is. If it sounds too good to be true, it is. Make sure you check out the company and remember that it’s going to take a while to sell your timeshare.

The 10 Biggest Mistakes When Selling a Timeshare: Part 4

August 28th, 2012
guarantee

Don’t fall for this

Mistake 7: Misunderstanding the Resale Company’s Guarantee

Unfortunately, many people are so desperate to get rid of their timeshare that they don’t think, listen properly or interpret what they are hearing properly. Combined with the purposefully vague language the timeshare resale agent uses and it’s easy to do. High on the list of misleading/misunderstood phrases is ” we guarantee you timeshare will be listed until it’s sold for no additional charge.”

A person desperate to sell their timeshare typically interprets to mean the company is guaranteeing they will sell the timeshare. A critical thinking person would follow up with “and how long will that take?” Or, “how many timeshares like mine have you sold this week?” (It’s doubtful you will get a straight answer from the agent to apply more critical thinking and questions to his response)

The “we’ll keep your timeshare listed until sold” guarantee is just a ploy to get you to list and as simple as it seems now, many people fall for it. Since your listing will simply be posted to the company’s website with no additional marketing money spent, the timeshare resale company is more interested in getting listing fees than actually reselling timeshares. If yours does sell it’s the icing on the cake.

And there your listing will sit…and sit, and sit along with hundreds or thousands of others.

 Mistake 8: Not Being Pro-Active in Listing Your Timeshare

Many timeshare resale sites I look at have the exact same timeshare listed many times but with different facts. Most commonly I’ll see that the maintenance fees, square footage and whether the timeshare is fixed or floating time differ on 2 different listings of the exact same resort. Warning bells should go off right away if you end up on a site like this. It’s a sure sign the company is just interested in getting listing fees rather than actually selling your resort.

You, as the seller, need to know what it is you own and help the listing agent write a listing that stands out from all of the rest. If you’re listing with a timeshare resale company and it doesn’t have a good description of your resort, the on-site amenities, nearby attractions and why someone would want to own there, make them get one. The operative word when selling your timeshare is “selling” your timeshare.

If you were to sell your home, although you may not help the listing agent with the verbiage, (I always do because I know the selling points of my home better than the agent does) you would make sure that all of the facts were right. So it is with selling your timeshare.

Do you own a studio, 1 bedroom or 2 bedroom? Is it a lock-off? Is your resort affiliated with RCI or Interval International? Do you have a deed or is it a right to use? Do you have a fixed or floating week? If it floats can you reserve it for any one of the 52 weeks in the year or are certain dates like Christmas, New Years, Easter and Fourth of July blacked out? These are all very important points.

If an interested buyer is found but the maintenance fee are incorrectly listed at $525 when in actuality they are $699 your sale could fall through.
Whether you’re selling your timeshare through a timeshare resale company or on your own, get clear in your mind exactly what it is that you own. Go over the documents you got when you purchased and call the resort’s Owner Services department for further clarification.

In conclusion, don’t automatically buy into a timeshare resale company’s guarantees and be very clear on what you own when listing it for sale.

 

The 10 Biggest Mistakes of Selling a Timeshare: Part 3

August 21st, 2012
Tips

Do a little research to sell your timeshare

 

Mistake 5: Not Going to the Source

What I mean by that is calling the original developer of the resort and see if he is willing to buy back your timeshare. It is an extreme longshot but won’t take you long to find out. And if it does work it is the most simple of the solutions.

If that doesn’t work you’ll want to see if there is someone that works onsite to resell owner inventory. This situation is most likely with a hot timeshare property.

The onsite salesperson could either be working for the developer or be an entreprnuerial real estate broker. Either way, having a trained timshare salesperson sell your timeshare will greatly enhance your chances of success.

If the first two options aren’t available you can check with the management company to see if they will let you hang and advertisement on the community billboard or run an add in their newsletter if they have one.

Finally, if all else fails, sell it yourself. I’m not suggesting you run an add in the local paper-too expensive and little chances of good results. The best way is to go to your resort, hang out at the pool or clubhouse and sell it to an existing owner. If you own a good quality timeshare this may be your best bet.

 Mistake 6: Listing Your Timeshare With Only 1 Company

Some timeshare resale companies may try to get you to sign an “exclusive listing.” Sounds good, doesn’t it? But it isn’t. An exclusive listing means that only that company is allowed to sell your timeshare.

That means that if your timeshare is sold any other way, by your cousin that’s a real estate agent, or even if you sell it yourself, the resell company legally gets their commission. If you signed an exclusive listing, no other resale company will try to sell your timeshare since they wouldn’t get paid.

You want to sign an “open listing” that allows you to list your timeshare for sale with as many companies as you want. If you are going to use a timeshare resale company rather than sell it yourself, make sure you sigh and open listing with as many reputable companies as possible. And make sure you tell each resale company that you have it listed with other companies as well. You do this to get the competive juices going. If you have a good property, doing this will get you a higher price and faster sale.

In conclusion, for the best results go back to the source and never sign an exclusive listing.

In the next post you’ll find out two of the most important mistakes timeshare owners make when reselling.

To read Part 2 click here now.

The 10 Biggest Mistakes of Selling a Timeshare: Part 2

August 14th, 2012
Hyenas

Beware of unethical timeshare resale companies

 

In Part 1 of this series we talked about the mistake of paying upfront fees and the mistake of asking too high of a price. To read that post click here.

Mistake 3: Selling your timeshare When You Still Owe Money

For the most part your timeshare loan is most likely non-transferable. That means that before you can transfer title to the new owner you must be paid in full. If you only owe a small amount you may want to consider this. But if you still owe a lot you may not be able to sell it for what you have left owing. That means you’re throwing good money after bad.

This scenario is what the unethical resale companies thrive on. You still owe $10,000 on your $18,000 timeshare and want out. They tell you they can sell it for more than your original sales price just to get the listing fee. Don’t fall for this. If it sounds too good to be true, it is – especially in the timeshare world.

Mistake 4: Not researching the Timeshare Resale Company

Finding a dependable and ethical timeshare resale company is takes some research since there are so many of them. Finding one that doesn’t charge an upfront fee is an even bigger challenge.

If they are not listed with the local Better Business Bureau I’d avoid them. If they are then they must have a satisfactory rating. In addition the company should have a Real Estate Broker’s license which is today almost a requirement in all 50 states.

To check out a company with the BBB go to its main page at www.bbb.org, and enter the zip code of the resale company’s location to get to the local BBB chapter. Next enter either the address or name of the company or phone number to see if there has been any complaints, how they were resolved and what rating BBB gives them.

You should also check with your state’s Department of Real Estate and see if it has a Broker’s license and if it’s had any reprimands.

The timeshare’s national organization is ARDA and located in Washington D.C. It sets the ethical guidelines of the selling of timeshares. They do not have any regulatory powers, as evidenced by the many timeshare companies still using deceptive practices, but it is a good source of information.
If you ever have a complaint you now have 3 very powerful organizations to report to. And if you are unsatisfied with your timeshare resale company you should be very vocal about letting them know that you know who to report them to.

 

10 of the Biggest Mistakes of Selling a Timeshare: Part 1

August 11th, 2012
Woman Frustrated

Frustrated With Selling Your Timeshare

Mistake 1: Paying upfront fees

In case a resale company asks you to pay any kind of fee upfront to market your timeshare, don’t walk, but run away. This is the sure sign of a rip-off. They may quote their fee anywhere from $200-$1,500 depending how desperate and vulnerable the listing agent feels most people are.

They’ll tell you the cash is needed for an email list, appraisal or advertising fee or any creative reason they can come up with. Some really disreputable timeshare resale companies will explain the need of the fee because they just so happen have a buyer and need money to open escrow.

No matter what the story given as to why you will need to pay money upfront, companies that charge upfront fees are much more attracted to collecting fees than selling your timeshare. About the only thing they do to actually handle the sale of your timeshare is to put it on their web site. And that’s about it. Your listing will sit there amongst thousands of others. And your phone calls usually will not be returned.

Totally ignore statements of how they advertise in the New York Times or USA Today. If they are asking for money ahead of time it’s a scam. A great number of them will tell you they will market your $15,000 timeshare for $35,000 simply to have your listing fee.

An authentic sign associated with a reputable timeshare resale company is that, in addition to a nominal fee of $50-100, they only take their commission at close of escrow-just as any other real estate transaction.

Mistake 2: Asking too high of a price

Most timeshares sell, if they do sell, for approximately 10-50% of what you paid. As stated before, this is because of the enormous original marketing costs and an over flooded market.

You should always research what your resort is currently selling for on the Internet. Look first at what your resale company is listing your timeshare resort/weeks for. Then look at other resale sites. If you see that your timeshare resort is listed between $1000 on the low end and $30,000 on the high end guess what you should list yours for? This kind of disparity in pricing is the norm. Unethical timeshare resale companies will tell a potential customer anything to get that listing fee.

What you decide to list for will depend on whether you are patient or desperate to get rid of your timeshare. That and number of listing on the market.

In Part 2 we’ll be talking about the mistakes of selling when you still owe money and not researching the company. Click here to go there now.

Tips For Selling Your Timeshare

August 8th, 2012
Hands and Keys

The Keys to Selling Your Timeshare

 

You have already spent thousands of dollars purchasing your timeshare.  More if you bought Disney, Marriott or Westin. Don’t throw even more of your hard earned money by making 3 of the biggest mistakes when you go to sell it. Since you found your way here , you’re probably selling your timeshare because you’re now unhappy with it.  Unfortunately, you’re probably going to be disappointed in your return of investment as well.

The timeshare re-sale, or secondary market, is young and not only flooded with people desperate to sell, but also with extremely unethical re-sale companies that prey upon them.

Selling a timeshare can be extremely difficult, and in some cases, impossible.  The FTC has cited a survey that found only 3.3 percent of owners reported successfully reselling their timeshares for a price they were happy with during the last 20 years. Many timeshare resale firms claim consumers can save 50 percent to 90 percent off retail prices. Therefore, buying a secondhand timeshare from an individual
owner can be a bargain but selling a timeshare is a losing proposition.

“Consumer Reports” July 2003

What Makes Selling A Timeshare So Difficult?

The two things that make the re-selling of a timeshare so difficult are that the supply of available resale weeks greatly outweighs demand, and the fact that nearly 50% of the price of a timeshare purchased from the developer went into the marketing costs.  Simply put, if you paid $15,000 for a timeshare, $7,500 of the purchase price was for marketing.  Because the market is flooded with re-sales, you’d be lucky to get $3,000 on the secondary market.  After commissions and closing costs $2,000 is a more realistic number.  You can expect a little more if you own a brand named timeshare like Marriott, Hyatt, Hilton or Westin/Starwood and less if you own a really bad one.

The next 3 posts will shed light on 3 common mistakes that many people make when selling their timeshare that can cost them thousands of dollars.  If you contemplating selling your timeshare don’t miss the rest of this series.  The timeshare resale industry is rife with unethical resale companies that will tell you anything to get into your pockets so you need to be informed.  Learn how to distinguish between a legitimate and unethical timeshare resale company.

RCI Timeshares in Cabo San Lucas: Let’s Go Whale Watching

June 17th, 2012
RCI timeshares

“The Office”

RCI Timeshares in Cabo San Lucas

RCI timeshares in Cabo San Lucas Mexico are great for a timeshare exchange vacation. Especially if you go in February or March. This is peak whale watching season and one of the best places in the world to watch California Gray whales from the shore.  The other two are Iceland and Antarctica-too far and too cold and don’t have any RCI timeshares.

I lived in Cabo for 6 years and you can expect daytime temperatures in the mid 70′s to low 80′s while you sit on a beautiful beach at one of the many RCI timeshares watching whales cavort just off shore.  On the Pacific side of Cabo they often come in close enough to shore to hear them spout.

Recommended RCI Timeshares

There are many great RCI timeshares in Cabo San Lucas. Some of the best for whale watching are: Sol Mar, Playa Grande, Finestera and Pueblo Bonito Sunset. Grab a week in one of the many beautiful RCI timeshares, get out of the cold and go see one of the most spectacular displays of nature you’ll ever witness.

If you do grab one of the RCI timeshares in paradise to go see the California Gray whales I recommend that you do a sunset dinner cruise instead of a whale watching cruise.  That way you get to eat, drink and watch sunset while the whales are entertaining you.  And they really do put on a show.

Some stand on their head and wave their tail, others roll on their side and wave a flipper and some spy hop, or stick just their head out of the water to take a look around.  If you’re lucky, you’ll get to see a breach.  Usually it’s the big males that do the breaching.  To see a 45 foot long, 40,000 pound whale throw himself three quarters of the way out of the water landing on his back is something you’ll never forget. And you can do it from one of the many RCI timeshares.

For those of you that do end up in Cabo San Lucas and the Los Cabos area for whale watching I recommend that you add on a few extra days and arrange a trip to Magdalena Bay 4-5 hours north of Cabo. There are no RCI timeshares there so you’ll have to rent a room.

This is one of the 3 bays that the California Gray Whales breed and calve on the Baja Peninsula.  It’s here where you will not only witness one of the largest congregations of whales anywhere, but also have the chance, if you’re lucky, to pet a baby whale from you boat.  There is no guarantee you’ll be able to pet one but just being on the water with so many whales is incredible.

On my third trip to Magdalena Bay I petted a baby off and on for 30 minutes while the 40 foot long mother observed nearby.  It ranks as one of the best all time life experiences I ever enjoyed.

RCI timeshares

You’ll never forget doing this

You’ll want to arrange for accommodations in the Magdalena Bay area before you leave Cabo because they fill up during whale watching season.  You can do that before you go to Cabo, preferable, or have the activities director at one of the RCI timeshares you’re staying at help you.

In fact, once you’ve reserved one of the RCI timeshares you can call the front desk and arrange the trip before hand.  Make sure to bring something warm to wear as the weather can be much cooler in Magdalena Bay than sunny Cabo.

Availability in RCI Timeshares

If you’d like to see the whales next year put in your timeshare exchange request now.  The greatest demand for RCI timeshares in Cabo San Lucas and Los Cabos is between Christmas and Easter so timeshare exchange availability is limited.

Even though there are no major brand name timeshare resorts like Marriott, Disney or Hyatt, yet in Cabo San Lucas, many of the RCI timeshares are of superior quality and right on the beach.

The Club Regina at the Westin is one of many beautiful RCI timeshares on the beach if you prefer to stay in San Jose del Cabo.

Redweek Releases Its Top 25 Timeshare Exchange Resorts List

January 28th, 2011
Timeshare Exchange

Timeshare Exchange

Top 25 Timeshare Exchange Resorts

Article by Mark Silverman from the Timeshare Examiner

Redweek.com, the on-line marketplace for timeshare exchange, rentals and resales has released it’s annual listing of top 25 timeshare exchange resorts, according to it’s memberships.
While interesting, the list is by no means scientific; the responses come from  the 1.5 million Redweek members, which is about 20% of the owners world wide, and skews to the United States, home for most of the sites members.
The results were also not compiled as part of any kind of random sampling, and it is unlikely that any of the respondents have significant exposure to more than a couple of dozen propetries each. As a matter of fact, the rankings are based on the resorts members information requests.
All that aside, the results are still interesting.
I may comment in future columns, in the meantime I present the list for your feed back

Top Timeshare Exchange List

1. Disney’s Beach Club Villas – Lake Buena Vista, Florida
2. Disney’s BoardWalk Villas – Lake Buena Vista, Florida
3. Harborside Resort at Atlantis – Paradise Island, Bahamas
4. The Manhattan Club – New York City, New York
5. Marriott’s Maui Ocean Club – Lahaina, Hawaii
6. Costa Linda Beach Resort – Oranjestad, Aruba
7. HGVC at Hilton Hawaiian Village – Honolulu, Hawaii
8. Villas at Disney’s Wilderness Lodge – Lake Buena Vista, Florida
9. Disney’s Old Key West Resort – Lake Buena Vista, Florida
10. Marriott’s Ko Olina Beach Club – Kapolei, Hawaii
11. Marriott’s Aruba Ocean Club – Palm Beach, Aruba
12. The Westin Kaanapali Ocean Resort Villas – Lahaina, Hawaii
13. Marriott’s Aruba Surf Club – Palm Beach, Aruba
14. Marriott’s Newport Coast Villas – Newport Coast, California
15. The Royal Sands – Cancun, Mexico
16. Marriott’s Waiohai Beach Club – Koloa, Hawaii
17. Playa Linda Beach Resort – Palm Beach, Aruba
18. Marriott’s Grande Ocean – Hilton Head Island, South Carolina
19. Holiday Inn Club Vacations at Orange Lake Resort: West Village – Kissimmee, Florida
20. Marriott’s Ocean Pointe – Palm Beach Shores, Florida
21. Kaanapali Beach Club – Lahaina, Hawaii
22. The Westin St. John – Virgin Grand Villas – St. John, U.S. Virgin Islands
23. Aruba Beach Club – Oranjestad, Aruba
24. Sheraton Vistana Resort – Orlando, Florida
25. The Galleon Resort – Key West, Florida

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Jeff Pierce, The Timeshare Expert, has taught thousands of timeshare owners the secrets to getting the best exchanges with both RCI and Interval International for over 22 years.

His two books, The Timeshare Exchange Bible – RCI Weeks Edition, and The Timeshare Exchange Bible – Interval International, are the only books of their kind in the timeshare industry and designed to help you  master at the very complicated art of getting good exchanges.

I would love to have you share your opinions and personal insights on this blog.

For 10 FREE videos on getting better timeshare exchanges in RCI and II go to TheTimeshareExpert.com.

Join me on:

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Timeshare Exchange

RCI Timeshare Exchange Directory: Why You Should Study It

September 4th, 2010

RCI Timeshare Directory

I have found that many timeshare owners I consult with look at their RCI timeshare exchange directory once a year-usually just before they are ready to place an exchange request. I recommend you really get familiar your directory long before that.

How Getting to Know Your RCI Timeshare Exchange Directory Helps You Get Better Timeshare Exchanges

Rather than picking it up the day you want to request your RCI timeshare exchange, you should go through it before hand and not only star the resorts you like, but also cross out the ones you do not want. There is a lot of information packed into the listings that will help in Planning Your Next Timeshare Exchange

For instance, if you want to exchange to a RCI resort on the beach, some of the timeshare resorts listed may be blocks from the beach rather than right on it. Crossing them off now will save you the time of filtering through them when you’re ready to do your timeshare exchange.

Below each RCI timeshare listing there is a series of color coded, round symbols that will quickly give you important information. There are currently 48 of these symbols in the RCI timeshare exchange directory that will give you an insight as to what amenities are in the unit itself, on site at the resort and nearby the resort.

For instance, with a quick glance you can tell whether your unit has a washer/dryer, dishwasher and air conditioning. You can also tell whether the RCI timeshare resort is on a lake, beach or ski slope, whether it is an all inclusive and if the all inclusive is mandatory or optional.

For some people the most important criteria in doing a RCI timeshare exchange may be whether there is on site child care and organized children’s activities. For others it may be whether there is a casino or bar on site. Because of how the RCI timeshare exchange directory is formatted you can tell all of this and more with a quick glance.

Another nice touch is the phone numbers and websites to the RCI timeshare resorts are listed in the directory allowing you to get even more in-depth information. Questions like: does the resort provide free day care, are there organized activities for kids, are basic spices like salt, pepper and garlic powder provided, are there barbecues on site and what are some of the best activities they recommend nearby are just a few of the questions to ask that will better help you in determining your resort choice.

Don’t Be Afraid to Mark Up Your RCI Timeshare Directory

The RCI timeshare exchange directory is very nice so you may be hesitant to mark it up with pen and highlighter; but not only will this help you enormously in Getting a Great Exchange but you will get a new one next year.

So grab a cup of coffee or a glass of wine and have some fun with it. With about 4,200 resorts in RCI timeshare exchange directory this will help you to Plan Your Next Exchange Each year many new RCI resorts are added so keep your old directory for reference.

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Jeff Pierce, The Timeshare Expert, has taught thousands of timeshare owners the secrets to getting the best exchanges with both RCI and Interval International for over 22 years.

His two books, The RCI Timeshare Exchange Bible, and The Interval International Timeshare Exchange Bible, are the only books of their kind in the timeshare industry and designed to help you master at the very complicated art of getting good exchanges.

I would love to have you share your opinions and personal insights on this blog.

For 10 FREE videos on getting better timeshare exchanges in RCI and II go to TheTimeshareExpert.com.

Join me on:

Twitter
Facebook
My Space

Learn How To Get A Great RCI Timeshare Exchange