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Re: REDWEEKS NEW TIMESHARE EXHANGE PROGRAM (by Terry H.):

Sorry for the rambling and not making myself more clear. Adahiscout, You are correct, however.

I was one of the original depositors with RedWeek. I turned in a 3BR 3BA Christie Lodge week, reserved for March 15-22, 2008. Christie Lodge is a resort in Avon, CO, next to Beaver Creek ski resort. The Christie Lodge charges $409/nt for this room, but of course this date is not available.

I was offered, accepted, and received 1800 RW points for my week. It just so happens that I had that week listed for rent at $1799 on RedWeeks website. I accepted a rental offer of $1599 (was asking $1799) for the same week last year.

Early on, most discussions on this BB and on TugBBS seemed to think that the points being offered were similar to fair market rental value. That obviously is no longer the case. I now see people getting 2017 points for 2BR units that rent for about $800 on the web.

It is common for people to get RW points equal to 1-1/2 to 2 times the rental rates.

Example: Look at Plantation Resort of Myrtle Beach http://www.redweek.com/resort/P2028 I was talking to the owner of a 2BR on this BB when he was contemplating making his deposit. I told him he should take the 2017 points based on what I could see. He did and has since used some of his points. I went to his resort’s website and checked their rental rates. Boy was I surprised to find that anyone could rent a 2BR unit in the summer months for about $130/nt - directly from the resort!!

Based on those kinds of numbers, I should have been offered many more points. I truly believe that had I waited to deposit now, RedWeek WOULD offer me more points, as they badly need good deposits. That’s what I was talking about when I said, “I wish I hadn’t deposited with RedWeek.”

RedWeek offered me about 2900 points for my Marriott Waiohai. Thank God I didn’t deposit that one!

Terry

PS – His week and mine are still available as RedWeek exchanges.