Original Message:
Re: Wyndham's new "Ovation" program offers exit solutions for their owners... interested? (by Patrick V.):
I have long advocated for CONGRESS to enact a FEDERAL TIMESHARE LAW, and have a CONSUMERS RIGHTS person in Congress spearhead it so the Timeshare/hotel/vacation club big Kahunas like Marriott/Interval and Wyndham/RCI dont go in there a ply Congress with liquor aka MONEY to STOP it or mark it up to favor them. To essentially federalize it and make federal standards and requirements for buybacks and which could benefit some of these companies, but prohibit their scam of taking back deeds/points for NOTHING and then they themselves reselling it AGAIN for now inflated dollars. THAT should be illegal. If they take it back and want to resell it, they have to give you something of value, at least 50% of their expected resell price. Essentially make them a broker for a resale with a third party. They can get a commission, it gets resold and everyone is happy.
The other thing is, I am a largely HAPPY timeshare owner and user, and its deeded at BWA and its immaculate and well run and deeded, fixed weeks, fixed unit, and my kids and grands will inherit it directly or in a family trust I might set up, so they can move usage around and not fight over who gets July 4 week every year etc. Timeshare is prepaying for vacations and with inflation running high (and will actually get REALLY high very soon, because the Fed is trapped) you paid with old dollars and not inflation dollars and thus its a pretty good product with a pretty good value overall, if you look out 20-40 years of usage. Sure the Developer got a LOT of my money 20 years ago, but amortized now, and with inflated dollars now, it was a bargain. People on average according to government stats, pay 10,000.00 a year to go on vacation, whether DisneyWorld or Cabo or some other location or overseas. If you rent a week say in Aruba for 2,500 for a three bedroom, plus airfare and food costs dining out and sundries, it can easily be 10,000 for that week for a family of four or five. So paying 35k for a three bedroom unit 20 years ago was a bargain. Yes dues matter. But I also know people who BOUGHT a home on coast of NC and paid MILLIONS and have to furnish it, repair it, insure it for fire, theft and HURRICANES, and pay all utilities monthly and then property taxes. And they use it once a quarter at most. Rarely get it rented out and sometimes renters trash it. So YOU decide. We chose Timeshare. And now with Interval we can exchange it and get either 2/1 in exchange weeks outright or 3/1 using ShortStay Exchanges (6 nights), and return to Hilton Head Island but a different resort including Disney for 3 weeks for the price of one week. Plus our dues are low by industry standards.
Finally, I know people who spent 250k on a luxury RV and drove it ten years and cant give it way for 50k. Do the math. Vacations are expensive people. But necessary. And who wants to die a spinster old single teacher with a million dollars who never went anywhere or did anything? She can leave it to alma mater, sure.....but really? You know what I mean, Vern? I bought three fixed weeks, fixed unit. I love it. It exchanges supremely well, but we most often occupy and use it (and drive there in a day, no flights needed....nyah nyah nyah Hawaiian Timeshare owners....lol) and my kids and grands LOVE it. The Developer does an excellent job. FREE GOLF at TWO SUPERB GOLF COUNTRY CLUBS on ISLAND. Free kayaks, shuffleboard, bocce ball, mini golf ON SITE. And gated, with a private pier and even a boat slip if you bring a boat. Whats not to like?
All these crybaby timeshare owners claiming they got scammed. Not really. Just sit back, enjoy your vacations, use the perks like Bonus weeks, and exchanges to fabulous places (Like Paris France and Malaga Spain, been there done that) and let your kids and grands inherit a lovely vacation spot without the headache and expense of OWNING a HOUSE outright on the beach (Hurricane risks! HUGE property taxes, upkeep, repairs, furnishings etc.) Be happy. Be grateful. I am. I am also glad I didnt buy points. I got a DEED. SEEN IT. HAVE IT.