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Re: Secondary market vs purchase from developer (by Craig S.):

kellya71 wrote:

I recently went thru the sales presentation for the Westin Villas North due to open this summer. It seems that the value is mostly in the extra points that come with the purchase (80,000/yr). What are the advantages of purchasing from the developer other than paying a premium for the points as compared to buying on the secondary market at a reduced price without the points? Are the points really worth the extra $35,000 to $40,000? The resale value of timeshares seems to depreciate over time like a vehicle does instead of appreciating like a real estate should. Based on many reviews, it doesn't really seem like having title to the real estate makes a difference in the property valuation. Having said that, it seems that by the time interest is paid on the mortgage and maintenance fees are paid, someone could enjoy a very luxurious vacation without having to pay for it in advance (down payment). Am I missing something here? It would be interesting to get replies from owner having bought from developer and those who purchased on secondary market. Thank you.

Kelly,

We purchased a re-sale (every other year) a year ago for about 45 cents on the dollar. In May we stayed in our one bedroom oceanview at the Westin in Maui and loved it...it was fantastic. They invited us to an owners presentation...it was very casual and the salesman offered to roll our re-sale into the program if we purchased a unit in the new phase. We declined and mentioned selling ours and he recommended we not sell based on the low price we paid. We were given 4500 star points and continued our vacation. It was a very pleasant experience...no pressure. As an owner we have access to the Star Central owners website. When I look at my information it shows we have options value of 81,000 and star points value of 46,200 for our next year. The options are valid but I'm not sure about the star points. As far as I know star points are only credited to your account when you give up your week to Starwood.

Why would I give up my week when I can rent it through Redweek for a nice profit? So far, I can't see us giving up our week...we enjoy it too much.

Craig