Archive for Sell Timeshare

Timeshares in British Columbia are Getting Faced Up

There is a new wave of real estate that is challenging the traditional timeshare dominance in British Columbia’s Columbia Valley. As reported by the Calgary Herald, fractional real estate is making an impact and slicing a market share with timeshares.

The Residences at Fairmont Ridge, town houses in Columbia Valley and a part of redevelopment of Fairmont Hot Springs have presented a new form of ownership. The newly crafted proposal is to deal with a deeded contract that gives 1/16 fractional ownership. Other resorts are also doing this, like the Marble Ridge Developments.
Tim Tourond of Marble Ridge Developments said that timeshare has been an economical option in Columbia Valley because of its flexible schemes. However, with the new fractional ownership, this gives buyer to own a second home that is easier to acquire and of with value, Tourond added.

Fractional ownership guarantees the buyer’s ideal weeks as compared to the traditional timeshare, which does not ensure the rotational usage time in a year. For fractional ownership, buyer gets three weeks of stay, that’s two weeks of the standard rotations and a Summer Plus programme. Just like in other resort purchase, owners take part of the RCI exchange programme. The Summer Plus programme gives buyers option to choose a week during June, July, August or September. June and September are the peak season months in Columbia Valley. You don’t have this flexible scheduling with timeshare.

Nowadays, consumers are focused on the value of what they have paid for and the long term benefits that come along with it. So even through recession period, people yearning for a second home as part of their lifestyle did not actually weaken, according to Jay Hardy, marketing director for the Residences.

Aside from the valuable benefit of fractional ownership, purchasers also get 15 rounds of golf, 15 ski passes and 15 hot springs passes. Lastly, fractional financing can be mortgaged through Quantum at 9% for a 25% down payment, which you hardly get with a timeshare.

Investing in a Timeshare or in a Travel Club Membership is a Lifetime Option

You might feel pressured and immobilize with you timeshare. Sometimes, when you are so dying to get out or opt to trade it to a different location, you find yourself consumed with so much hassle, time, effort and money. You’d wonder how you were able to get into the trap of this annoying vacation spot. And when you look back, say, after 25 or 30 years of owning the same timeshare, you’ve already paid out about $500 to $700 a year for preservation fee – that includes, maintenance and other repair charges – just for a week in all these years. Calculate the $500 or $ 700 per year for 25 or 30 years. That’s about $12,500 or $17,500 all in all.

You might be asking yourself now, how come you acquired such property and questioned what you have really invested in. More pondering will be to ask when you are planning to sell your timeshare because you couldn’t sustain the monthly maintenance and that you could be able to travel that much anymore. By paying about $15,000 to $20,000 upfront for your timeshare, you might have been neglected to be informed with the charges that will come after. What you do not notice is that, for years of paying these fees and charges, the timeshare owners have already profited from you again and again. Sometimes, you do not just pay the maintenance charge but have additional fees on your travel accommodation. You have to pay for the air fare, fuel expense, and other charges just to reach your destination.

However, time has changed. The 2010 regression has put you into question the timeshare that you have been sustaining all these years. You try to question the improvements that have been made after all the charges and fees that you have paid. After all these years, you ponder if it is still worth paying for. Or how was the improvement gone so far? Was it the same old building when you acquired it or was it been renovated to keep up with modern facilities and accommodation? Has its roof, interior and exterior setting, or its landscape been refurbished? Did your repair fees justify the improvements in your timeshare? And this is not just the concern. You might find that the schedule is not flexible. You signed on for a particular time in a year. Now the problem is, it is not all the time you will be available for that week each year – might be you are off into some other business or that you may not be able to travel during that time for some other reasons. You can not actually trade your time for another timeshare or may reserve in advance in a year. Sad part is, when the designated week has elapsed, you have forfeited your chance even if you are maintaining your reservation fees each year.

There is an alternative though from this crazy set-up. The new timeshare generation has an option for a Travel Club membership. This is a one-time payment for a lifetime membership for a bout $3000 with no monthly payments. You get to access almost 5000 resorts, get discounts in cruises, hotels, air fares and even car rentals. This can actually be passed on to your children. Unlike timeshare, of which, you will have a hard time getting rid of in case you do not want it anymore.

We all know that travelling is one of the most relaxing ways to unwind. There is a long list of travel club over the internet. One of which is the Holiday systems, where you can truly save more and definitely spend more time enjoying your vacation compared to a timeshare.

How to Sell Your Timeshare Decently in No Time

Here are some tips on how to sell your timeshare fast even under poor economic condition. We all know that this kind of property needs an immense amount of money to sustain its existence but in reality, you are just nourishing an empty and immobile property. Timeshares are truly attractive to every person who is dying to go on a hassle-free vacation or tired of booking from hotel to another. Plus, the ads on great fun and excitement that await in these exquisite properties. Soon enough, you’ll realize you need to let go of this liability. So how are you going to sell it effectively in a short time possible?

  1. Make a comprehensive and honest description of your property. Stress on the strength – describe parts that you think other timeshares are not offering, like big pools, round the clock security or even a description of a spacious room where fun activities can happen. Use real photographs of your unit and list down the amenities and services that tag along with your property. Credibility is important when posting descriptions such as these. You have to make sure that if you advertise that your Jacuzzi is working, it really should be. Remember, it may be that you sold your timeshare easily and quickly because of the fraud things you have given yet will eventually face legal consequences in the future.
  2. Before posting your timeshare on websites, make a research on the market prices of units, especially the resale ones. You might be putting up too high and soon enough end up paying additional charges and all, and you are not selling your unit yet. Set your price that will be levelled to the kind of timeshare you are reselling. You might check the progress on your property and reflect on its market value. That is why, you need to research prices and compare them with yours. You also need also to specify the mode of payment for your transaction.
  3. Lastly, promote your timeshare by getting hold of the correct and current market value. You need to post your property in websites that do not require payment. There a lot of websites that offer free postings. Just make sure you have detailed and accurate contact information.

The power of technology has set you free from the hassle of peddling your timeshare. Because, all you need to do is just one click away.

Hawaii Timeshare Sales Ideal for Holiday Gifts

This holiday season, the best way to show your love is to give a most exciting travel destination. Would it be nice to spend a grand weekend with your loved ones with a reasonable budget? Hawaii timeshares are offering holiday discounts so you can take your family on an ultimate getaway. Holiday timeshares are not only well-organized but also economical. During this regression, we all know that every investment should be of with value. Timeshare sales online are cutting off the cost that comes along with travel agency booking and other types of companies. Another advantage through online booking is that you can view directly the units you want. You can search and compare prices before making a purchase, without the hassle on going from one place to another. You can take a look at the services and amenities of the resorts and match up with other resorts. Hawaii timeshare online booking lets you view a few of some listings that are appealing to you and fit your preferences. You can even directly contact the seller for any queries you would like to as. There are also great deals of packages that you may want to avail. Another advantage when scouting online, you wouldn’t have to leave the house and eat up your time and effort in moving from one travel agency to another.

Renting or owning a Hawaii timeshare promises a dream getaway you’d always wanted that will definitely leave you and your family happy and satisfied. We all know the stress on bookings and placing reservations take us. It spoils the fun up ahead. However, with the Hawaii timeshare, you’d only need a one time purchase and you’ll definitely have a saved spot for your yearly escape. Having a timeshare booked over online is beyond comparable to the tradition booking on hotels. First of which, hotel rates are based on the time of the year. So you mind just end up paying much just to squeeze yourself in. Hotels charge extra for the usage of their facilities that if in a Hawaii timeshare, it has already been included. The Hawaii timeshare does not only hold more people but also gives ample space, amenities and services for everybody. This is without paying extra unlike resort hotels do.

It’s a great way to invest in a Hawaii timeshare for your family’s pleasure and future. You wouldn’t worry where to go for your yearly escapade. This is a lifetime experience that you can give to your family and may pass it on to generations. You can spend quality time with your family in a dream vacation where you can enjoy high class accommodations and exciting activities that will definitely bond your family in a cozy, comfortable timeshare – without the financial burden.

The Trend on Selling Timeshares in Today’s Market

There a number of reasons why you might be selling your timeshare. You may want to either move to a bigger area or in a smaller one. Or, you find it as a financial burden or that you don’t really need it anymore. Whatever your reasons are, when it comes to selling timeshares, you want to put it on the highest price possible but with a lesser hassle on your part. There are a lot of factors that you need to consider when putting up your timeshare on the market. Here are three main points you might take look into.

  1. Price. Price is the most important factor when selling your timeshare. Remember, a potential customer wants a good deal at a very reasonable price and at the same time a seller wants to sell it on a price that is profitable with the investment.  As a seller, you need to determine the right price not just to quickly dispose your property but to ever attract buyers. For pricing consideration, you have to take note of your location, resort type, age of your timeshare, amenities enclosed and all others. These things are determinants as to what price range should you set for your market. Aside from this, you need to compare your prices from other sellers. It is important that you should be able to identify if your unit is not too less nor too high against other competitions. This will put your timeshare market amiable with potential buyers.
  2. Visibility. It is true that you are not the only one who is selling on the net. It is better for you to create a profile that will definitely attract potential buyers. You may want to post it over your local newspaper or on websites, so long as you reach full potential regarding visibility. Remember that your market in selling timeshares is not bounded within your local vicinity but global. Economies from on country to another differ. Therefore, you may never know from which location will your buyer will be from. Advertise well your property.
  3. Support system. You can definitely sell your timeshare on your own. However, this business really needs expert advice from people are already been into this kind of field. You might look for a company that will aid you all through out with your sale. Yet, do not trust companies right away. Make sure you have read reviews from these companies and feedbacks of people who had been with the company. There is a long list of online timeshare communities where reactions and feedbacks are posted. You need to join them so that you will also be updated with the trend in the market.

Some Timeshare Tax Implications

Did you think timeshares are exempt from taxes? Well, you’re absolutely wrong. A timeshare property is a capital asset; you can generate profits from it once it is sold. It is not considered an investment unlike real estate properties since you actually do not own the unit but rather what you have are rights to utilize the property.

To be eligible for income tax, the property must be owned for at least 1 year or 12 months. Once you purchase a timeshare, you are obligated to pay all fees associated to your unit. This includes the annual maintenance fees and the closing costs. The maintenance fees are needed for the upkeep of the unit. This can be in the form of utility, water, and electric bills, among others. The closing cost is the amount you need to pay when you decide to buy a shared vacation property.

Like any other real estate property, the buyer will declare capital loss once his vacation property experiences timeshare loss. The losses will not be deducted from the annual tax returns. Situations may vary if the property is regularly rented. But in any case, a loss on sale will be deducted as allowable ordinary loss in tax returns once it is termed as allowable business loss. There will be no declaration of loss on sale if the unit had been changed back “to personal use before selling”.

There are no other deductibles allowed other than property tax that is separately billed.

If the loan is taken as mortgage and the purchaser has no other “deductible mortgages except primary home mortgage”, the interest on timeshare loans may be deducted. But the sad part here is that vacation property loans are termed as consumer loans in which not all are eligible as mortgage loans. And so, “interest cannot be deducted on multiple vacation property loans at a time if the owner investor has a primary home mortgage although the investor can deduct interest on multiple timeshares if they are located at the same resort because it can classified as a single timeshare”.

Whatever you do, once you purchase a timeshare, you will always be bombarded with payments and that include income tax payments. If you plan to purchase one, make sure that you can sustain paying these or you might end up with nothing in your pocket. Be wise enough to look at your current situation and plan the future ahead.

BBB Heeds Warning on Deceptive Practices on Timeshare Resellers

Connecticut Better Business Bureau (BBB) is disseminating alerts on deceitful timeshare resellers who ask for big amount for upfront fees to cover closing outlays that ultimately never come to end.

Selling timeshares has become a popular alternative for owners to diminish expenses and build up expenditures. And on the other end, many consumers are buying these for sale on the market. According to the American Resort Development Association, sales dropped 40 percent in 2009.

There are some companies that the BBB gave an “F” rating, such as Resorts Condo Management, Creative Vacation Solutions, Platinum Property Exchange and Premier Timeshares Solutions. These companies have promised sales but never materialized and on top of it all, they had been asking their buyers to pay up thousands of dollars in upfront fees fro closing expenses.

A complaint was filed by a seller in Premier Timeshare Solutions (PTS), who was promised to have his money refunded if a sale of his property would go through. The seller paid PTS about $7,710. Soon enough the sale never went through and worst, even if the company guaranteed, his money was never returned.

The Better Business Bureau has some guidelines to those who want to sell their timeshare properties:

  1. Connect to those you can trust. Always read review reports on companies you want to deal with and compare their ratings. You can visit bbb.org and check on the BBB accredited business timeshares.
  2. Verify licensing requirements. Always confirm the company’s location and ask whether its salespeople are licensed to the business. You can do this by checking out the state licensing board.
  3. Complete you queries on the facts on the figures. Get everything out from specific fees to queries on insurance, advertising fees and other payments. Ask if it is refundable or that if there are some hidden charges.
  4. Be cautious with the fees. Some companies would be charging “appraisal” fee for services or that sellers would just pay upfront the closing cost and the company would take care the property. Negotiate that payment of fees would only be after the timeshare is sold.
  5. Don’t jump right into something that is too good to be true. Confirm always the credibility and legality of the company you are dealing with.  Don’t rush your decision. Deceitful timeshare resellers may claim that your property is in demand and they can sell it immediately. Unfortunately, these are often not true.

Selling Your Timeshare? Find the Right Broker for You

When putting your homes up for sale, it is easy to look for real estate brokers, as there are usually a lot to choose from. Top brokers in your area may have already created a name for themselves. However when selling timeshares, it is a slightly different game.

Not all real estate companies engage in reselling timeshares. While famous vacation destinations like Florida may have real estate agents who will resell your timeshare, more often than not, when selling your share vacation ownership, you will most likely have to look for a specialist.

Timeshare valuations are around 30-50% less than the initial price, so do not expect the value of your property to rise. Because of this, it would make more sense to purchase a timeshare to be used for holidays, rather than to treat it as an investment.

When choosing a broker, it is crucial to do some research before finally selecting one. Working with the right timeshare company can make the transaction less stressful and less financially cumbersome.

You need to find a broker within or close to the location of the property. Some owners contact companies who operate in their city due to the ease of proximity. However, these companies might be miles away from the property, and their brokers may not know how much the property is really worth, nor know how to draw in customers interested in purchasing the timeshare.

It is also imperative to choose a professional company with a good reputation. If the resale company contacted you first, conduct some research about the group before committing to any deal. The company you should pick must be professional in dealing with their clients and be in good standing within the resale industry.

If you can, ask for references or contact details of clients they have helped in the past. You can be certain that brokers who are comfortable giving you this data have left a good impression on their previous clients. You can then ask these previous clients about their experience with the company.

You can also find out which properties in the area have been sold recently and ask which broker sold them. In this manner you can find which company has experience and is active in your area.

When you do get in contact with them, ask a lot of questions, such as how they advertise, and what the average timelines for selling in that particular area are.

Also, stay away from companies who ask for high costs up front. Legitimate brokers with a proven track record do not have to resort to tactics like this which they know discourage timeshare sellers.

Brokers charge sellers differently, so it is important to know what those fees are for, and compare them among each other prior to making any decision.

Finally, before you transact with any broker, know how much your timeshare is presently worth, which is usually lower than the original price you bought it. This is critical if you wish to sell your timeshare for cash, as it will help you determine which broker really wants to help you sell it.?