Author
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Topic: Should I keep my developer Sheraton Vistana Villages or rescind?
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ccfdad1 TUG MemberPosts: 13 From: Registered: Mar 2005
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posted 03-10-2005 07:16
Over the weekend I purchased, on-site and from the developer, a 2 bedroom non-lockoff in the “high” (not platinum) season for 67,100 StarOptions. Further, this came with the option to convert the StarOptions to StarPoints, every other year, for 21,000 StarPoints. I paid $16,900, and got 85,000 StarPoints as incentive. I am still in the 10 day recession period, and am wondering if I made a mistake. I hope to have the ability to trade into Harborside, St. John, or Ka anapali quite frequently, and maybe use the Orlando location every 3 or 4 years. However, from what I am reading, it seems very difficult to trade into these resorts from Vistana Villages. Does anyone have any first-hand experience trading into these resorts during peak times? Should I try to buy Vistana Villages or Harborside directly on the resale market? The only disadvantage to that is the inability to convert the StarOptions to StarPoints, as I understand it. Also, I’d appreciate thoughts on buying in Orlando, in general, as it doesn’t sound like it trades well in RCI due to the proliferation of timeshares here. I am getting the distinct feeling that I overpaid and would appreciate candid feedback while still in the recession period. Thanks!
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ricoba TUG MemberPosts: 762 From: Rancho Dominguez, CA Registered: Jan 2003
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posted 03-10-2005 07:39
The standard advice here is rescind, take your time, educate yourself, do the research and purchase on the resale market and of course, join TUG  Most of us here bought from a developer and have to learned that resales are the way to go.
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nikki33866 TUG MemberPosts: 54 From: Los Angeles Registered: Dec 2004
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posted 03-10-2005 08:06
Ryan, Just out of curiosity, was the unit going to be in the existing resort or in the buildings currently under construction?------------------ Nicole IP: Logged |
ccfdad1 TUG MemberPosts: 13 From: Registered: Mar 2005
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posted 03-10-2005 08:24
I was told it was one of the last remaining in the existing phase (1).IP: Logged |
stevens397 TUG MemberPosts: 237 From: Randolph, NJ, Owner: Westin Kierland Villas, Marriott Fairway Villas Registered: Dec 2002
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posted 03-10-2005 09:59
The advice about trading is correct. The prices for buying into the "top 3" is so expensive (relative to Vistana) that if trading was easy, why would anyone pay more and purchase at those resorts? Reverse your reasoning (stay at your resort 3 out of 4 years) and you might have some small chance of being happy. But your plans, while possible, are not very likely to lead to you being happy. IP: Logged |
bward TUG MemberPosts: 26 From: Registered: Sep 2003
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posted 03-10-2005 10:21
Not to muddy the waters, or to add any confusion.But you should know, that we bought the same Vistana Villages as you in 03. Last year we stayed at the home resort. It was beautiful, and we had a great time. This year we traded into Kaanapali. We are taking a mid-July week. Straight internal SVO trade. So, it can be done. BW IP: Logged |
stevens397 TUG MemberPosts: 237 From: Randolph, NJ, Owner: Westin Kierland Villas, Marriott Fairway Villas Registered: Dec 2002
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posted 03-10-2005 15:08
BW - You're not muddying the waters at all - we know it is possible. As many know, I just got back from Presidents Week in a 3 BR in St. John with a 2BR Kierland trade. That doesn't change the reality of the fact that I was very, very lucky and that I know I can't count on this being routine (or even close). That said, I'm already reserved for Kierland next year and very much looking forward to going there. But you can be sure I will also call a few times to see if I can trade into Harborside or St. John for the same week. The difference is that I won't be upset if I don't get it because I love where I bought. Most of us think that that is the best formula. IP: Logged |
bward TUG MemberPosts: 26 From: Registered: Sep 2003
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posted 03-10-2005 16:38
Hi Stevens,Yes, I realize I was very lucky to get Kaanapali...and we weren't really trying either. It was available, and we jumped at it. Very nice surprise. But I just want the original poster to know that it's not impossible to trade into the more desirable resorts. I made the Kaanapali reservation in January. At the same time there was still availablilty at Desert Oasis,Kierland, and I think Mission Hills. I could have traded into any of them. I will say, Harborside and St. John were out of the question...no avails. But, I was inside the 8 month window, and I think many owners at those resorts are anxious to get back after last year's hurricanes. I'll try again next year. The only drawback with Vistana Villages that I can see..and it's not a minor one...is that it is not worth as many star options as other resorts. Of course, this is reflected in the price. For us, and our budget, it made sense to buy at VV. I'll admit I have had second thoughts while reading these boards. I know one can save money by not buying from the developer. No question. And I have seen a couple of VV resales on Ebay. I will say, though, that I'm very impressed with the flexibility of Sheraton's system, and with the resorts. And, for our family, and for the money that we could spend, I'm happy with the purchase. Plus, the Starpoint incentives..were killer. When we bought, it was 100,000 starpoints. Down the road, I may add more Star Options. I can only get away with a 1 BR with my kids for so long, afterall. But for now,we're enjoying it. I just want the original poster to understand that if he doesn't recind, he should go forward, don't look back, and have a great time! And I forgot to mention, Vistana Villages is a beautiful place. BW IP: Logged |
reddiablosv TUG MemberPosts: 215 From: Riverside, CA. USA Registered: Oct 2003
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posted 03-11-2005 17:46
I think you should rescind. I am in the process of buying a resale true 2 bedroom unit in prime season for 9K. It has 81K staroptions at the same MF as your unit with 67K staroptions. Others have purchased your unit with 67K staroptions resale for as little as 6K. Why would you want to pay 10K too much? That amount of money will buy you a lot of airfare and magic kingdom passes. BenIP: Logged |
mb5 TUG MemberPosts: 2 From: Registered: Mar 2005
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posted 03-12-2005 10:30
We are now in the process of recinding our purchase at VV. We bought 2/27 and liked the idea of the flexibility Sheraton offered verses the typical Sat to Sat of RCI trades and also the ability to use the points for hotel stays. While these things are still attractive to us, when we realized the many lies told us, our decision was easy. Our offer was for $15,900 and 97,000 points, I'm sure you can always get a similar offer from the develpoer even if you cancel this particular contract. TUG has been a great help to me and I will buy when I am confident I actually know just what I am getting into this time. BTW did you notice that your 67,100 options do not allow you to go to your home resort Viatna villages in a 2 bedroom during weeks 7-17, 23-24 and 51-52. You would need 81000 options for that. This fact was the final straw for us. Use this site before you buy. Thanks to everyone who has helped me!!! MB IP: Logged |
gcole TUG MemberPosts: 345 From: Suffield, Ohio USA Registered: Apr 2001
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posted 03-13-2005 15:47
quote: Originally posted by reddiablosv: I think you should rescind. I am in the process of buying a resale true 2 bedroom unit in prime season for 9K. It has 81K staroptions at the same MF as your unit with 67K staroptions. Others have purchased your unit with 67K staroptions resale for as little as 6K. Why would you want to pay 10K too much? That amount of money will buy you a lot of airfare and magic kingdom passes. Ben
Where are you buying this unit? It may not come with the SVN/Staroptions trading network. ------------------ Own at Vistana Orlando. Lakes and Cascades lock-offs. IP: Logged |
reddiablosv TUG MemberPosts: 215 From: Riverside, CA. USA Registered: Oct 2003
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posted 03-13-2005 16:09
Hi Gale, the Vistana Villages is a SVN mandatory resort. That means all resales come with the staroptions. Even third party resales. I will not get the starpoints, but I will still be able to exchange in the Starwood network with the staroptions. Currently there are five SVN mandatory resorts, Westin Kaanapali, Kierland, Harborside, Vistana Villages, and Westin St.Johns. If you buy 3rd party at any other another of the Starwood properties you are out of luck. I confirmed the above with the resort prior to signing the purchase contract. BenIP: Logged | |