Comments on: Steamboat Springs Fractional Ownership Vs. Timeshares–What’s the Difference?

By: Steamboat Springs, CO Real Estate and Community Blog » Steamboat Springs’ Newest Fractional Properties

Tue, 20 May 2008 01:23:05 +0000

[...] Read more here how fractionals and timeshares differ. [...]

By: Eliese Pivarnik

Eliese Pivarnik — Sun, 23 Mar 2008 02:17:17 +0000

Jesse,
I appreciate your comments and am happy that you are having such success with your timeshares. There is definitely a following where people love them and it works great for them. I have a client, in fact, who wants to purchase two back-to-back weeks in the Northstar condos, and the owner refuses to sell. He says his family won’t let him.

I hope the Sheraton will be a property like you described where you get great return on your investment and also a great place to stay.

Here’s the other side of things, from Timeshares Users Group, or http://www.tug2.net:

“With few exceptions, owners of timeshares purchased from a developer can expect to take a beating on resale. Although itâ€™s not what you want to hear, most timeshares sell on the resale market for only 30% to 50% of the price you likely initially paid to the developer when you purchased. Shocked? Please believe it!

The key is to bury forever any thoughts that because you paid (let’s say) $12,000 for your week, someone else will be willing to pay the same amount. They might, if you were putting on the same glitzy sales presentation that some high-pressure salesperson did when you bought, including giving free incentives for attending the presentation. But you don’t have that luxury. So do your homework and set the price at the right level. It will sell.”

By: Jesse Briglia

Jesse Briglia — Sat, 22 Mar 2008 10:49:08 +0000

You are wrong on timeshares. I own 9 Starwood Timeshare Weeks in St. John (4), Atlantis (1), Maui (2) and now Steamboat (2).

You need to buy the best properties and buy the most in-demand weeks.

Here has been my experience with these hi-end timeshare properties…

1. You most certainly do get a Deed.
2. These properties have absolutely appreciated.
3. They are good, if not great, rental properties. As an example…I bought weeks 51 and 52 from a private owner at the Westin St. John. I bought their 3BR, 3BA “pool villa” which has 2,850 sq.ft., private pool, other amenities. I paid $75,000 per week, $150,000 total. I have absolutely no problem renting these properties year after year. Last year 2007, I rented Christmas Week for $17,000 and New Years Week for $11,000. My annual cost for each week (condo fee and taxes) was just unit $2,000. So for $150,000 invested I made $24,000 return ($28,000 gross rents minus $4,000 condo fees/taces). That’s an annual return of 16%. I have same stories in Maui. Show me where else you can get that kind of a return on an investment property. I own a real estate company in Ocean City, NJ. I own dozens of rental units there, and my timeshares out-perform almost all of them.

I have bought and sold timeshares on the after-market and have not experienced any problems…..but you must buy the best properties for the best weeks.