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Re: sELLING MY TIMESHARE (by Kenneth K.):
jayjay wrote:kekouri wrote:Today on TUG, a retired couple want to know how to sell their weeks at a resort, as an assessment of $7000 is being required for 2007. (Thats on top of the maint fees. ...and he said for one red week and two 'off color' weeks. ( Probably in N florida, most in S fl are all red. )Absolutely ridiculous! And we wonder why there's millions of people in the marketplace wanting to sell their timeshare(s).
Rising maintenance fees and special assessments are two of the MAIN reasons we sold all of our timeshares.
JayJay....
With your knowledge of all the ways one can squeeze value from the T/S, it seems even if you kept a low cost one, you would be able to use it to full advantage. I know some have maint fees that aren't too high.
Of course, its anyones guess what could happen with any place you own....wind storm, earthquake, and such....and no matter how good the HOA attempts to run the place, anything can happen.
Someone was asking about a apartment rental (year around) in the Hollywood, Fl area. I told then to check rentals under realtor.com
Then I looked at beach front units to see pricing. Remember, nothing is selling down there, and the flippers are getting killed.
I figured their max of $1500 a month (better at $1200) would bring nothing very nice, if anything.
Then I noticed an apartment conversion ( high rise) beach front 1 bed 1 bath for $1200. It sells for $370,000. Taxes are 2% of the selling price ($7500) (but the flipper can't sell it). Insurance (includes windstorm) is approx $3000+ a year.
So...that rental just about pays the taxes for the owner. I can't see how they can pay the mortgage....
Maybe you are right...cheaper to rent (now-anyway)