Marriott Newport Coast resales

Is it me or does it look like resales are at a standstill? people don't want to pay anything for these timeshares yet the listings pricewise seem reasonable. I am trying to sell ours ( for far less than we paid yrs ago; more than 50% less) and still keep hitting a brick wall with potential inquiries. I have no problem renting my timeshare, but need to sell it.

In this economy many timeshares can't even be given away .... it's a bad time to try to sell a timeshare and even in good times you'll get pennies on the dollar of what you paid a developer.

I am a very experienced real estate professsional ( commercial) and I believe that a timeshare is like a gym membership, if you have one you are likely to take more vacations. However, timeshares are not an investment.

You can amortize the cost over 10-15 years ( cost + annual expenses) and likely the cost will be less than renting a hotel and the timeshare units are much upgraded over most hotels.

I totally agree with you and that was why we bought yrs ago into this but our financial situation has changed dramatically and taking a vacation is not a priority these days as much as we like the place. I just know we have to sell (not want to). Thank you for your inputs.

Jim I sent you a reply, not sure if it went through ok. let me know if you didn't receive it.

thank you Donna

deleted in response to deleted msg from Jim

royn16 wrote:

I am a very experienced real estate professsional ( commercial) and I believe that a timeshare is like a gym membership, if you have one you are likely to take more vacations. However, timeshares are not an investment.

You can amortize the cost over 10-15 years ( cost + annual expenses) and likely the cost will be less than renting a hotel and the timeshare units are much upgraded over most hotels.

If you bought it resale I agree that might be true. but if you bought direct, the math rarely works out. Buying direct, including the interest paid on the loan to buy (or interest lost on the money you no longer have) plus the ever increasing maintenance each year is unlikely to work out. Especially because the fallacy is comparing the direct sale purchase with the assumption the maintenance doesn't increase and that is compared to hotrel rates with the assumption those rates always increase.

The correct way to compare the direct purchase is to account for the annual increases in maintenance (plus interest costs) and compare that to the owner rental rates. The only way ownership works out is buying resale, or using a resale plus direct purchase combination to effect optimal ownership.

Per the last message posted: No doubt that would have been genuinely nice to know years ago when we weren't even interested in buying a timeshare. So I totally am in agreement to your points made. Since we bought directly and after a down payment the balance being paid over years with their excessively high interest rates (not to mention their exhorbitant fees if it's paid on the 10th day and after of the month and increasing maintenance fees annually it has become a very expensive "ownership" to maintain esp when our financial situation changed dramatically and not for the better. Thanks for your input.

David my listing is under Newport Coast resales posting#R366678.