Exchanging times and other stuff

We have owned unit #12 for a couple of years. We too wish the club house and the golf course were completed. However, we wanted everybody to know that we have exchanged through the Registry a few times and have had a great time. Never rented our unit. Never tried. We are interesting in finding out who also owns units near our. Love to hear from Unit #12 owners especially who are interested in swapping times. We own the month of August.

Thanks, Jason

Hi Jason, I just wrote a reply to another message you wrote. We own Villa 12 May 1 - 16. Actually we are going home tomorrow. We have truly enjoyed our villa, as usual. How is the weather here in Aug.? We have had the best weather these past 2 weeks.

I have a week deposited with the Registry but have not used it yet. Has it been easy for you to get what you want through them?

Thanks for any info. Dianne

dmagliulo wrote:

Hi Jason, I just wrote a reply to another message you wrote. We own Villa 12 May 1 - 16. Actually we are going home tomorrow. We have truly enjoyed our villa, as usual. How is the weather here in Aug.? We have had the best weather these past 2 weeks.

I have a week deposited with the Registry but have not used it yet. Has it been easy for you to get what you want through them?

Thanks for any info. Dianne

am in the process of considering a purchase of one of the existing villas for the 1st 2 week in November. We got a free trip to Pueblo Bonito Pacifica and went on one of those sales pitches. We looved the villas (despite the unctuousness of the salesman)We didn't buy while we are there but I have spent the subsequent weeks looking into this possibility.They are asking approx 96,000. They are currently selling these as "deeded" properties. Since Americans can't own property on the coast of Mexico, they are using a fideicomiso which is an irrevocable trust where the bank holds the title and we are the beneficiaries. We have a perpetual interest in the property. From reviewing this website and others, it appears there is a market for renting or selling. I dont think, however that one should buy these villas with an eye toward making a big profit because there are so many total units for sale; but i think you can rest assured that you could sell in the future and get some return on your money. I have researched the developer and he is highly regarded. So I have researched all aspects of this to death but have not yet decided to pull the trigger and sign the papers. I too would welcom a dialog with other owners. (I copied and pasted this from another topic just to insure that asmany people as possible see it.)

Unfortunately only November and December work for me. I have been noticing that a buyer can do much better in the reslae market than buying from the developer. Good luck to you as well

I would definitely suggest buying from someone who already owns rather than the developer. There are many people very frustrated with the inability to rent (we're hoping this will change once the golf course is complete), and who are selling for much less than they paid. I'd try that option first.

lindseyr9 wrote:

I would definitely suggest buying from someone who already owns rather than the developer. There are many people very frustrated with the inability to rent (we're hoping this will change once the golf course is complete), and who are selling for much less than they paid. I'd try that option first.

You are absolutely correct. I am in discussion w/ a couple of brokers and owners and apples to apples the resale prices are many $K lower (in terms of maintenace and cost of the ownership) than for "new" from the developer. It seems (from the online postings) if you have prime time (Xmas or Thanksgiivng) you can be pretty assured of renting.The softness of the rental and resale mkts motivated me to look at resales. As I said in another post we saw the grading and foundation work for the golf course(s) and the Ritz when we were down there in April and they look like a near time reality. If so and if there's not too much overbuilding, the rental (and resale) mkts should firm.What has been your experience generally as an owner? Thanks

We love the villa. Probably the best vacation ever. But, we were hoping to rent it out and that hasn't worked out so well. Last year we rented one week for $1200 and went the other week. We didn't even recoup our maintenance fee, much less any of what we had paid for the unit itself. Until this morning, we thought we had a renter for both weeks in July for around $6500, but it turns out the check was counterfeit and it was all a scam. But that has nothing to do with the villas. We're really banking on the golf course turning it all around. We're also in the boat where we're not really sure what our options are for additional weeks and exchanging, and the RCI people don't know any more than I do. They told me I didn't have any points, which I knew to begin with. They then transferred me to the number listed on my account which was not a working number, and didn't inspire much confidence.

I just wish the flights weren't so high!

Hi Jason, We have never tried to rent our place. We have used it except for 1 week that we deposited into the Registry. I have until next year to use that. I know that there are lots of rentals on this website. Our friends own there and put their place up for rent in May but didn't even get any inquiries. I thought these villas would rent more readily than they are. Now they are selling Phase 2 farther down the hill, closer to the proposed golf course. With so many more villas going in the rental market will be even more plentiful. We were originally told that they were not going to build any more villas after the first phase. Never believe anything that isn't in writing. We bought in 2004 when they first started selling, so we got in before they raised the prices so much.

We do love our place and look forward to going most years. It is the perfect place to bring the whole family. We love the month of May because the weather is mild.

Dianne

Diane,

Can you tell me how the Registry works and what I need to do to deposit a week? How far in advance do you have to do it?

Hi Lindsey, You can deposit into the Registry up until 90 days before your use week. It costs $250 per year to have a membership in the Registry and another $250 when you make a reservation for a trade. You have until the end of the year after you deposit to use up your credits that you have deposited. For the MonteCristo you should get 1050 Registry credits to use for a trade. I have made a deposit, but have not used my credits for a trade yet.

Dianne

Is the value you obtain through the registry superior to renting your unit yourself? Thanks

Hi, may I ask how much the original villas sold for in 2003/2004 and the annual maintenance fees? Thanks!

danaw19 wrote:

Hi, may I ask how much the original villas sold for in 2003/2004 and the annual maintenance fees? Thanks!

This is our 1st year as owners and we were able to rent one of our weeks for almost $500 per night. We went the other week and had a great vacation as the villa is great for large families/groups. The service was amazing. I too have been disappointed by the slow progress on the golf courses. I think the addition of the Ritz should help, but it'll be a little while before we see anything. When we were there in May we did see all the new roads, but the construction still seems slow. They are also selling phase two of Montecristo (approximately 100 units) and I was told the selling price was $300-$350K for a month which seemed high. The golf courses should help, but overall there is a lot of new development in Cabo so hopefully the new additions (golf courses, shopping, Ritz Carlton) will make it "the" place to stay in Cabo. Hang in there! When I get frustrated, I think of the view :)

Hello, I was wondering if you could tell me which rental service you used to rent out your week? We are going to try and rent out our two weeks in October this year since we won't be able to make it down to Cabo...did you use Redweek? Thank you for your help!

andreaf29 wrote:

This is our 1st year as owners and we were able to rent one of our weeks for almost $500 per night. We went the other week and had a great vacation as the villa is great for large families/groups. The service was amazing. I too have been disappointed by the slow progress on the golf courses. I think the addition of the Ritz should help, but it'll be a little while before we see anything. When we were there in May we did see all the new roads, but the construction still seems slow. They are also selling phase two of Montecristo (approximately 100 units) and I was told the selling price was $300-$350K for a month which seemed high. The golf courses should help, but overall there is a lot of new development in Cabo so hopefully the new additions (golf courses, shopping, Ritz Carlton) will make it "the" place to stay in Cabo. Hang in there! When I get frustrated, I think of the view :)

I too am curious what company you used for renting out the unit. Where is Montecristo phase 2? Will they be around the golf course? Any word on the Club House? Thanks, Jason

Our renters contacted us through Redweek. I also sent a mass email to friends to pass on (and had a lot of interest) and also posted on Craigslist. I already have people interested for next year. I think the key is to tell everyone about the place as it really is affordable compared to similar accommodations in Cabo if you price it right and fill it. Forget the $1K per night they tell you about.

The new units for Montecristo Estates are below the main road coming in and closest to Sunset Beach. They are not close to the golf course, but closer to Sunset. The views aren't as good, but you're closer to the water and main resort (but you still need the shuttle).

The clubhouse is underconstruction and they said they hope to have it finished in the next few months...I think it'll be longer.

andreaf29 wrote:

This is our 1st year as owners and we were able to rent one of our weeks for almost $500 per night. We went the other week and had a great vacation as the villa is great for large families/groups. The service was amazing. I too have been disappointed by the slow progress on the golf courses. I think the addition of the Ritz should help, but it'll be a little while before we see anything. When we were there in May we did see all the new roads, but the construction still seems slow. They are also selling phase two of Montecristo (approximately 100 units) and I was told the selling price was $300-$350K for a month which seemed high. The golf courses should help, but overall there is a lot of new development in Cabo so hopefully the new additions (golf courses, shopping, Ritz Carlton) will make it "the" place to stay in Cabo. Hang in there! When I get frustrated, I think of the view :)

Just got back and was quoted $53K per week for phase 2

Thought you might like to know

Jim

How did you rent your unit? Did you do it on your own or through some website/company?