posted 10-25-2003 23:44               

Sooo, I thought I'd take a long shot and see if anyone here has information on re-sale value in Whistler, week 7 or not. I'm also looking to sell/rent the timeshare I own now which is a float week so I'm wondering what it's worth. Anyone?

posted 10-26-2003 09:37               

One bedroom:

• Whistler Creek: $8,000
  
• older Village properties: $10,000
  
• newer properties Village: $12,000
  
• Upper Village ski in/out: $15,000
  
• Premium (e.g., Westin): $20,000

Two bedroom:

• Whistler Creek: $11,000
  
• older Village properties: $13,000
  
• Blueberry Hill: $15,000
  
• newer properties Village: $16,000
  
• Snowbird: $18,000
  
• Upper Village ski in/out: $20,000
  
• Premium (e.g., Westin): $30,000

Three bedroom. I believe these are only at Aspen and Woodrun (Upper Village ski in/out): $30,000.

A rule of thumb that will get you pretty close is to take the weekly rental rate (what a renting timeshare owner can expect to gross, not the rate through WJ or a rental agency) and multiply it by 10.

The above is based on my observations of pricing from a period several years when I was semi-actively looking for a Week 7. Note that prices drop dramatically for Weeks 6 or 8.
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Steve Nelson
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He had the sort of face that makes you realize God does have a sense of humor. - Bill Bryson

posted 10-26-2003 14:19               

Anyway, Steve thanks for your info. It is helpful. The place I'm looking at is the Aspens actually but it's a 2 BR. I hate to pay too much but I hate to let it go and miss my opportunity. I don't think week 7s come available ski in/ski out very often at Whistler. Do you think the prices have been inflated at all because of the Olympics in 2010? I think it's a false sense of market worth/value on the part of the sellers because of that. I have a friend who lived in the Salt Lake area when the Olympics were there and he said many people expected big bucks for their timeshares and rental weeks and it just didn't happen. Maybe Whistler will be different since it's so much farther from the city.???

Thanks again.

posted 10-26-2003 15:21               

I would not pay any premium at this time because of the Olympics. That is a one-time occurrence that does not add any fundamental value to the week. Maybe in 2008 or 2009, I might pay a bit more because I could more than recapture a premium in a one-time rental. At this time, it adds nothing.

Personally, I would not buy that week if you planned to use unless you have school age children and that is the only time in the winter you can get away. Whistler is extremely crowded and more expensive that particular week. Weeks 8 - 12 are as good for skiing and are much less crowded. Timeshares for those weeks are corresepondingly cheaper, as well. E.g, you could probably pick up that Aspens weeks for around $10k in weeks 9-12.

posted 10-27-2003 12:04               

I really want week 7 because of school. My kids are 2nd grade and preschool so we'll be able to use it for many years. I am not a big advocate of pulling my kids out of school for a week and as they get older it's harder.

I did get a reply from Dave Sharpe who says he works for Sussex realty (although his email addy is XXX@whiskijack.com so perhaps he works at both), he says they had a 2BR at Northstar sell a year ago for 45k CDN and a Woodrun 2BR/den sell for 47,500k CDN. I was astounded. If those numbers are accurate then it makes me wonder why he's offering the one in the village for 28,800 CDN. But then, it's in the village and it's a 1BR/loft so perhaps that's it.

I did e-mail the person on ebay who pulled their ad (for a week 7) and she said she pulled it because she listed with a realtor who listed it at 38,600 CDN.

I was surprised how expensive that week 7 is and that people are actually getting that much for it. I knew it would be more but that's A LOT more! :-) That's what made me wonder if the prices had been inflated (artificially I would think) because of the Olympics. But if those two units Sussex sold were from last year, it would have been before the Olympics announcement was made.

Anyway, I thank you for your help. Any information I can glean is good.

posted 10-27-2003 16:38               

Sussex can sell for more because they are the designated "in-house" resale agent for WJ. So they pick up business from people who have sticker shock from the sales presentation. Also, if an existing owner inquires about resales, WJ will direct them to Sussex. If they are not familiar with the resale market, they see listings that look cheap ocmpared with what they paid and what WJ is charging for new properties.

If you buy outside of Sussex, you pay less because the Sussex premium goes away.

The 1 bdrm+loft sells for less because it is not a two-bedroom. It also might be in one of the older buildings, which are considered less desirable.

posted 10-28-2003 22:24               

snelson, can you give me an idea of what Whiski Jack charges to do the closing paperwork for a sale between two private parties? I heard you'd done some with them before.

posted 10-28-2003 23:07            

Just curious if anyone knows what a don't mean to be a party pooper, but this is a little too close to the "considered an ad" line to allow" - Bev would sell for resale? I not really looking to sell this (love Whislter), just wondering how much of a loss I would take if I sold it. I have considered selling it and buying more Worldmark points, but will probably hold on to it. Anyone have any ideas?

Ken

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Forgiveness is the gift you give yourself.

posted 10-29-2003 06:59               

quote:

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Originally posted by allenke:
Just curious if anyone knows what a don't mean to be a party pooper, but this is a little too close to the "considered an ad" line to allow" - Bev would sell for resale? I not really looking to sell this (love Whislter), just wondering how much of a loss I would take if I sold it. …

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Send me an e-mail.

posted 10-31-2003 08:46               

Rather than spending $15,000 for a week 7, you could spend closer to $25,000-$30,000 for 5 weeks by buying a resale 1/10th fractional ownership at the Woodrun, Ironwood or Snowbird. Every year you will get at least 2 prime ski weeks and a prime summer week (any two of these weeks are worth well over the purchase price of the entire fraction on the resale market), and if you're quick to reserve the two floating weeks you can also get two weeks of good spring skiing. You'll get week 7, week 51, 52, 53, etc. on a rotating basis (we'll be in Whistler over Christmas break the coming 2 years).

You do, of course, have to pay maintenance fees on all of the weeks, but the WJ fees are very reasonable compared to most ts, you can pay in four installments, you get good control over what happens to "your" unit (and the other owners care, too) and you only have to deal with a single management company.

If one wants to own a portfolio of weeks, some to use and some to trade, I think a fractional ownership is a great way to go.

We've had our fractional ownership for almost 10 years, and in that time have used the less-red weeks to trade through RCI (lots of Europe in the summer, Hawaii at Christmas, etc.). The resale value of our fraction is higher today than when we bought it (we bought resale), in part because WJ no longer sells them. If you want a portfolio of weeks, this can be a good alternative.

Kris

posted 03-13-2004 08:57               

Last time we were in Whistler I met a couple from Vancouver who had recently purchased 4 quarter-shares at the Ironwood so they could have a fully-owned unit. It was much less expensive than buying a condo in the same building.

posted 03-13-2004 10:48               

however we just bought a 1/10th at ironwood at approx the prices you quoted

posted 03-13-2004 15:44               

We've not yet gotten the RVC sales pitch, but at this point we usually exchange for European destinations, which RVC doesn't seem well suited for.

Hope you enjoy your new Ironwood fractional ownership as much as we have!!

posted 03-14-2004 20:23               

quote:

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Originally posted by MarksMa:

Do you think the prices have been inflated at all because of the Olympics in 2010? I think it's a false sense of market worth/value on the part of the sellers because of that. I have a friend who lived in the Salt Lake area when the Olympics were there and he said many people expected big bucks for their timeshares and rental weeks and it just didn't happen. Maybe Whistler will be different since it's so much farther from the city.???

Thanks again.

Elaine

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I planned three years in advance to go to SLC in 2002 for the Olympics. I rented a motel room for $200 per night and that was the best I could find.

Then the treacherous attacks of 9/11 occured. I can tell you from first hand experience that many people didn't want to travel. My neighbor and I both wasted our wives tickets because they refused to go.

When we got to Park City there was still rooms available and at better prices. Talked to my lodging rep and he said there were lots of cancellations.

There is no doubt that this had ALOT to do with the unmet expectations of the renters. They also may have been unrealistic expectations.

It's been said before and I agree. Some of the most expensive weeks are in ski areas. So if you have a better resort during a high demand week at a ski area expect to pay premium money.