The Way to Success Timesharing

My remarks are made on the cornerstone that one is buying a timeshare for mostly selling reasons. All of the declarations I will make are genuine knowledge not certain thing someone said, or I perceived somewhere. My family has been involved in timesharing since 1980. First my parents then my sisters and myself, now numerous of my expanded family constituents own timeshare weeks. I am mean income (work everyday), mean intelligence. So since I did it any person with endurance, a minimum amount of time, and dedication can accomplish the identical results.

Before even contemplating purchasing a timeshare, delight converse to persons who have had awful knowledge first. This way you will be leery of everything going on. Better yet just pursue my recommendations and have no difficulties at all (just kidding).

After deciding to purchase, recall no issue what resale is better. My reasoning for this is, there are a allotment of dissatisfied owners out there willing to take a decrease just to get out. So make their error your marvel. I have been and continue to take trips while on holiday just to stay intuned with the charge of weeks. I have yet to find a holiday resort that arrives close to fitting into my cost variety of $2500.00 - $4000.00. If you are frugal then you will seem that $8000.00- $2000.00 is way too much to pay. although if a buyer goes resale through broker or one-by-one very reduced charges can be attained. I purchased my two bedroom, red week/40 at SouthShore lagoon holiday resort, rated Gold Crown in the RCI exchange system, in HotSprings Arkansas for $2800.00 in 1990. With this week my wife and I have swapped within the RCI exchange scheme without many difficulties. habitually getting a pleasant holiday resort at the yearned time. Put a little time in buying for a dependable broker.

Next be certain to purchase at a nice holiday holiday holiday resort. This is easy to do just give RCI a call and ask about the demand for the holiday holiday holiday resort and week you're interested in buying. When I've done this for family constituents the counselors have habitually been joyous to give the data I demanded. You likely already understand why, but just in case, better resorts and weeks give you better trading power.

Also get a least a 2brm unit, since only a handful of holiday holiday holiday resorts offer more than two bedroom anything more is a waste of cash. Getting any thing less limits one selling power counting on the holiday resort, so two bedrooms are safe.

Two more causes numerous timeshare owners get sickened with their week is banking and searching. First banking, with RCI which is the only exchange scheme I'm well known with one should bank at least one year in accelerate to maximize his trading power. A simple issue, just pay your maintenance fees and call RCI to space bank your week. Simple, yes but a large deal of proprietors delay too late and that conceives frustration. Next is seeking, this can and has been a small difficulty occasionally for employed people trying to agenda a holiday. afresh inside the RCI system the previous one begins a seek the better the chance of getting the resort you want. generally I can agenda my New Years vacation one year in advance and get a match, other holidays I'm continual with RCI on giving me the holiday resort I want. RCI says that it dosen't do any good to call back after a seek has been put in however, I've discovered this to be untrue on numerous occasions. There are numerous counselors answering the phone at RCI and some will work harder to get you what and when you desire better than other ones so I call quite often when I understand I have a tough search in.

A twosome of demonstrations are News Years week 1995 I called until I got the best Resort in Palm Springs, Ca. The wasteland jumps Villas 2/brm. Then New Years 1996 we went to Hilton Grande holiday Villas in Las Vegas, Nv another strong one to agree but persistence paid off. Some persons may state this is too much problem but free teletelephone calls and a bit of time beats paying hundreds of dollars per for these accomidations.

Just a couple of other things I would like to cover. Owning in one place and dwelling in another, dosen't matter. That's how I got my two bedroom week.. The persons I bought it from moved to Florida and didn't feel snug being away from their dwelling resort, their decrease my gain. Just make certain you get a attractive holiday resort, remember a call to RCI will take care of that.

Next I am dwelling proof that you don't have to own in Las Vegas, Hawaii, or Orlando to get outstanding deals. I've heard for many numerous years that "you won't habitually be adept to get deals like that". This may well arrive to reality some day but as for now it hasen't. We just recently got verified into the Quarter dwelling in New Orleans for New Years 1997 week on that cheap ole Arkansas week.

Remember to consider these pieces when concluding to purchase upkeep fees, deeded house, and repaired or bobbing time. So finishes my sermon on "KEYS TO SUCCESSFUL TIMESHARING". one time again all my proposals are founded on the premise that one is buying mostly for selling purposes although, they are basic and should work in most situations.

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Timesharing-Is It Finally Time To Buy?

The "hard" sales methods, explainable price drops, and low-quality resorts are usually going away. That means many vacationers now view timesharing as a viable and economical choice for future vacations. But they need to know much more to make an intelligent purchase.

With the entry of businesses like Disney, Marriott, and Hilton into the area, the timeshare market is blowing up. In the past two years, almost 500,000 families have purchased a total of more than 700,000 week-long units at timeshare holiday resorts. That means there are more than 2 million owners at more than 2,000 holiday resorts worldwide. opposing to popular conviction, a recent study by leisure survey professionals Ragatz aides showed that more than 80% of these proprietors are happy with their buy.

"It is clear that timesharing is profiting in popularity, not only here in the U.S., but furthermore over Europe, Mexico, and in South America," states Tom Franks, leader of the American holiday resort Development Association, the timeshare commerce body, founded in Washington, D.C.

THE BASICS

In timesharing, consumers normally purchase one or more weeks at a exact holiday holiday holiday resort and can return to that holiday holiday holiday resort every year or "trade" it for a week at another holiday resort with an exchange business. charges currently mean about $9,000, with annual upkeep fees of around $300.

holiday timesharing usually takes one of two types: "Fee" timesharing presents the purchaser permanent rights--in the pattern of a deed--to the house. About 85% of timeshare holiday resorts deal under fee-ownership affirmations. "Right-to-use" timesharing grants the purchaser the privileges to the use of the property for an established time span of time, such as 30 years. Under this kind of timesharing, the purchaser does not receive a deed.

Rather than return to their dwelling holiday holiday holiday resort every year, many proprietors opt to exchange their week for a week at one of thousands of other timeshare properties worldwide. For a fee (usually less than $100), companies like holiday resorts Condominiums worldwide (317/876-1692) or gap worldwide (305/666-1861) present these exchange services for constituent holiday holiday resorts and proprietors.

numerous proprietors say this exchange privilege was a key cause for buying and have had much achievement with the swaps. The keys to achievementful exchangers are: buying at a well liked holiday resort (this rises exchange power); "depositing" the week with an exchange business as early as possible (this presents the exchange company more time to find a client for the week being exchanged); and being flexible on the yearned place visited, resort, and designated days of journey.

SOME details

The Orlando, Florida area serves as an perfect example of what's available. It's a gigantic market for vacationers from all through the world in seek of a part of that Orlando "magic." There are dozens of options accessible and the area is a great location to own one or more weeks, if you understand where to proceed.

Well-established possibilities include: isle One (407/859-8900); Marriott (813/688-7700); Orange Lake (407/239-1082); and Vistana (407/239-3008). At these and other holiday resorts, you'll find a full owner of amenities, often including kitchens, decks, swimming pools, bistros, golf techniques, tennis enclosures, and much more. These timeshare holiday holiday holiday resorts are more like fully-equipped apartments or suites, rather than standard inn rooms.

Walt Disney World recently opened their first timeshare holiday resort, the Disney holiday association (407/939-3100). As would be expected, they have evolved some exclusive features for their timeshare notion.

Disney undertook two of the foremost issues in the timeshare industry today: flexibility and aggressive sales techniques. Along with numerous other timeshare properties, Disney has moved to advance these two areas and the early reconsiders give them high marks.

By buying a genuine estate interest in Disney Vacation association holiday resort, guests automatically become members of Disney holiday association and are deserving to a variety of exclusive advantages and privileges. constituents furthermore obtain an annual allotment of holiday points, which may be utilised on holidays at the resort or at more than 100 worldwide holiday resorts actually suggested through a "Member Getaways" program with RCI.

"The flexibility of choosing amidst several different holiday familiarity is what groups the Disney holiday Club apart from many similar plans," states General supervisor assess Pacala. "The vacation issue scheme permits constituents to select the type of holiday best suited to their desires, especially as those desires change from year to year."

Disney has also attacked the overly-aggressive sales methods that used to plague the commerce. They don't supply any inducements or awards for prospects attending the sales presentation and their sales force mostly obtains a fixed wages, rather than high commissions for high volume.

For a one-time buy cost, visitors may buy a real land parcel interest in the holiday resort, which expires after 50 years. charges actually run from $11,730 to around $16,000.

The points scheme, which is becoming much more well liked in the timeshare commerce, is much easier to understand than it first seems. Let's state that with your Disney holiday association ownership interest you have 270 points to use each year. You could book a two-bedroom home for a week's stay in June or enjoy a five-day family reunion in July in a three-bedroom impressive Villa. Other options would be to book a two-bedroom dwelling for a nine-day stay in September or an incredible stay of several weeks in a studio unit.

Disney's timeshare operation is typical of the exciting future for the industry and astute timeshare buyers. There are timesharing choices all through the U.S., with huge multi-site choices like Hilton impressive holidays (813/482-7766); Fairfield Communities (800/251-8736); and the Lawrence Welk Resort Group (619/485-5556); as well as small and intimate single-resort operations. You'll find apartment-like accommodations in a resort-like air.

WORLDWIDE choices

Timesharing is not limited to the U.S. at all. This worldwide commerce is very popular in Mexico, South America, Europe, and some other components of the world.

More than 100,000 weeks were traded in Mexico last year at more than 100 different holiday holiday resorts. Prices are inclined to be smaller than the mean $9,000 purchase cost in the U.S.

Potential purchasers should address Cancun and Cozumel; Puerto Vallarta; Acapulco; Ixtapa; and Manzanillo, a local holiday resort locality for Mexico City, which is favored by Mexicans and usually features even smaller charges (less than $5,000). To get begun in Mexico, communicate reputable multi-resort operator COSTAMEX at 305/267-7855.

South America is a somewhat new hot-spot for timesharing, but the commerce there is growing quickly. The Argentinian coast and hills (skiing during the U.S. summer) are currently the most well liked spots for development. tourists to Argentina should explore the choices in Buenas Aires, Mar del Plata, Miramar, and the Cerro Catedral ski locality. The Uruguay coast resort locality of Punta del Este is also evolving a timeshare hub.

Timesharing really started in Europe, before blossoming in the U.S. There are hundreds of choices throughout Western Europe, the Mediterranean, and Scandinavia. As can be anticipated, holiday holiday resorts are most prevalent along the coasts and in the Alps.

south Spain is probably the foremost in sunny European timesharing. Dozens of timeshare resorts spot the Costa del Sol area. It's very simple to comparison shop along the seaboard area, but definitely ascertain out some of association Riviera's options (011-34-52-831252). Other timeshare hotspots encompass the Canary isles, Portugal, the French Riviera, Greece, and Turkey.

The Alps appeal to many timeshare purchasers and for good cause. A timeshare unit can save many of money on ski journeys or a summer holidays in the hills. There are several options in the French Alps, Switzerland, and Germany's Bavaria, but Austria appears to have the best overall wagers. Timesharing Ferienclub Jausern in Sallbach-Hinterglemm (011-43-65-41-503) is usual of Austria's club-like hill holiday resorts.

BUYERS BEWARE

Timesharing isn't for every person. It's not a factual real estate buying into" and the resale market is taut. easily put, plan to purchase it, keep it, and enjoy it.

The commerce body ARDA (see underneath) has many very good publications about timeshare purchase. Their agency is a large beginning issue for interested buyers.

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Timeshare-Let us Give What the Kids Want

It actually makes great sense for the children. In previous items we have notified the article of the assess Hopkins inn in San Francisco. For those who missed it, the 1942 nightly rack rate was $5.00 lone and $7.00 double. By 1974 it was $45.00 and $55.00. Last year it was $210 to $270 lone or double counting on location. bearing that price increase forward another 50 years will set the cost at $9,058.00 per evening! Can't happen, you say? It did happen and there is wholeheartedly no cause it won't happen afresh. Now what will the children believe of you when they are keeping this kind of cash down the road? They will think their parents were just about the brightest persons in the entire world and they will believe that every time they holiday. What a large legacy!!

Why, then don't they desire it now? Even for free? Well, you believe back. some years before did you awaken up one morning, gaze at each other and state, "This is certain a great day to proceed out and buy a timeshare?" We all understand that didn't happen. No, you went out not to buy, but just to choose up your free car, Hawaiian holiday or other "free" gift. After you had left the sales production, you said, "What happened?" Not only had you paid for your own "free" gift, but you had furthermore paid for those of the other nine persons who didn't buy. You likely didn't give a lot of ordered considered to this buy as you were intentionally cleared away by the slick emotional sales method engaged.

So now you offer it to the children and they decline. Why is that? It is nearly habitually the cost of upkeep that the children aim upon. The amounts owing of from $350 to $500 and levies of from $30 to $90 knock them out. They can't envision expending that much on a holiday. The detail is that they will likely spend a allotment more than that even now for a product that isn't one tenth as good. But the truth is that they have not been traded the merchandise. How many parents will become salespeople to their children to show and sell them on the advantages of the merchandise before it is suggested?

Part of it is timing. If the children are too young or really financially labouring, it is not a good time to offer the gift. delay until they don't have those kind of stresses. Also, have you utilised the timeshare as a family? If not, how could they know how good it is? On the other hand, if they have utilised it with you as children and actually relished it, and if they now have kids of their own and are labouring with the ever-increasing cost of holidays, their reception will be much distinct. Timing is everything.

Don't neglect the selling of the benefits. Before proposing it to them, open the RCI or Interval worldwide catalog and display them all the tidy places they can proceed. If you have currently taken them to some of these, it will just be that much simpler. Don't overlook the fact that you should really be able to offer one to each of your offspring. luckily, resales offer the opening to choose up these additional timeshares at a part of what you initially spent. And what a gift it is!! They talk about the gift that holds on giving. This is one that will provide your young kids with a lifetime of pleasure. And their young kids after that.

You might also clip out this article for your children for the time when they will overtake it along to their young kids.

One last caution. Don't just add their names to the Deed! In disposing of resale timeshares one of our worst troubles has been levelling out improperly deeded property. In some situations it has resulted in the house being unsaleable. In one case a mother just supplemented her four children titles to the deed without any thought to their spouses some of who were ex-spouses by the time we got into the image. A nationwide manhunt insued to find the ex-spouses and converse them into signing a stop claim deed. Don't forget that most timeshares are in detail real house and pursue those rules. You are nearly habitually better off obtaining the services of a expert.

The lifetime worth of timeshares is just beginning to be recognized now. It will still take a few more years before it is completely obvious to every person. When it does, the worth of resales will boost dramatically.

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Tips on Buying a Timeshare Resale

Have you ever bought an inexpensive car only to find that upkeep and dissatisfaction made it more expensive than if you had just bought a better one in the first place? The same is true in timeshares. The "satisfaction quotient" of a timeshare will actually be determined by your buying the right one in the first place. This is true whether buying a developer's timeshare or a resale. The only difference is that you will buy the resale for one third to one half the price. Consider the following attributes when purchasing:

The Location. Is it in a demand area? Can you walk to shops, restaurants and other off-site amenities? Does it have major attractions close by? The property on the beach is better than the property a block back. Some resorts Feature solitude and a "get away" location with great views of the wilderness. What will suit your lifestyle and desires?

The Design. Was the project a motel conversion or purpose built? Some motel conversions are excellent. Others result in turning a substandard motel into a substandard timeshare. Is the property a mix of Studio, One and Two Bedroom units? Is it attractive and well laid out or just a box? The more attractive the physical layout of the property and the unit floorplans, the better.

The Management. First and foremost: Are the units clean? Look for dust, non-working windows, squeaking doors, seedy landscaping, etc. The better maintained the property, the higher the value. Does the appearance please you?

The Fiscal Stability. This is harder to find because it is not visible. Ask for a copy of the Owner's Association budget or financial statements. If this is out of your area of expertise, ask the Owners around the pool. Have there been a lot of special assessments? If there is a professional Property Manager (a CPM or RRP), ask them. Is the project "living beyond its means"? Look for the reserve study. When will the property need a new roof and will the money be in the bank to pay for it? Another non-technical way is to review the last few minutes of the Board of Directors meetings.

The Unit Size. As a general rule, the people who buy the larger units are the happiest. The ability to bring friends and family along on a vacation is not to be overlooked. Two bedroom units offer this possibility. In other cases you may not want this possibility to exist so a smaller unit will be the best selection. Think it over not only for the present, but also for the future. Young singles have bought studio units. They don't work so well after the marriage and the third child.

The Season. Buy the high season if that is what you wish to consistently use. If the summertime is high season and you are a schoolteacher who can only vacation then, you should go ahead, bite the bullet and buy that season, even though it may be at a premium price. If you have school age children the same applies. Sometimes, the reverse is true. For example, we have many Owners of Southern California beachfront resorts who live in the east and Midwest and have specifically purchased the "off season" because it gets them out of the cold. It works perfectly for them.

The Price. This is last on purpose. You are looking at buying a lifetime possession. If you get the wrong one, the dissatisfaction will be present long after you have forgotten what you paid for it. At current resale prices, I don't think there is any way to lose. Resale timeshares are like antique furniture. They will either hold their value or increase with time. Look at resales as though they will not really cost you money, they will save it. The worst that will happen is that you will have a lifetime of incredible vacations and at the end you will sell it and get all or most of your money back. The longer you own, the better it will be because alternate accommodations (hotels) will only cost more in time due to inflation. The best units in the best season in the best projects have held their value best. Currently, resale prices are generally half of the original developer sale price. In some cases it may be less and in some more. To assure yourself of not paying more than you have to, shop around. Call a title company in the area to find out what the resales in a specific resort are going for. Ask a resale Broker to show you some comparatives. In other words go about it as you would buying a house. Obviously it is not as major a purchase, but time spent getting the right product is absolutely worth it. Remember that you will own it for years. Another trap to avoid is that of buying a cheap timeshare for exchange. Make no mistake. Low quality exchanges for low quality with only rare exceptions.

Key Point - Since we are offering 80% financing for the purchase of timeshare resales, you can now afford to buy the best property; the one you really want. You will be much happier in the long run if you do. All this may be summed up by one phrase:

Buy Quality!!

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To Balance your Way of Life Through Timeshare

At TimeshareValues.com we lately broadcast with a purchaser founded in the Midwest. We are in the San Francisco embayment area. We conversed a allotment at 9 pm our time – while he was still in his agency. At his time, the timepiece was going toward midnight. 

He acquired a timeshare because he feels he doesn't have sufficient time to design his holiday, but he understands he still has to take time off each year. He works long hours, but he hoped a timeshare purchase would achieve some balance between his work and individual lives. 

This is an extreme case – but it got us conceiving about the cause for buying a timeshare. Most persons want to accomplish a balance between the Two E’s: strong feeling and Economics. 

We accept as true a successful timeshare purchase presents a balance between these two E’s.Here's how:

The First E: Emotions
Certain persons and places always attach with you. Great times, nourishment, scenery, associates. Many of us have large memories of locations we want to go back to every year. We wish to recapture feelings we first experienced at these locations. 

Such a location is Cozumel, Mexico. It presents not only a magnificent timeshare vacation for people, but it was furthermore the honeymoon for a twosome we know. The twosome’s entire trip was astonishing, from the great nourishment (the newlyweds really discovered a magnificent Italian seafood restaurant there), great diving (the groom remembers his bride’s eyes when she saw her first barracuda), and amicable persons. 

It probably will not come as a shock that we hold our eyes open for Cozumel house. Strong feelings help us aim on what actually matters in life. 

The Second E: Economics
When you state this ‘E Word’, persons think of accountants with green eyeshades. But that’s far from the reality.

“Economics” in a timeshare buy is a easy issue of looking at the annual cost of a holiday. financial factors to address include: 

· What is the best worth for my vacation investment?

· What locations offer me the best ”bang for my buck”?

· What can I afford each year – and not have to concern about paying the borrowing business card bill after the trip?

These may be boring inquiries, but the emotional value of this financial approach is anything but boring. Answers to these “money issues” can offer you great peace of brain. 

Let’s look at a couple scenarios where the economics and strong feelings are out of balance. 

More Emotion than Economics
Does that sound familiar? Have you ever noticed a large commercial in which the merchandise is secondary to the strong feelings you seem? All you have to do is buy the merchandise and you will seem the emotions in the financial. 

Have you ever noticed journey world wide web sites not ever show an sad flyer or a seasick cruise passenger? You don’t desire contradictory strong feelings anywhere beside the merchandise being sold.

recall this as you gaze at timeshare auctions. Like all businesses trading journey products, TimeshareValues want to display our timeshares in the best positive lightweight. However, that’s very very simple, since we believe so much in the product and how it improves the value of a holiday.

Making a buying conclusion based more on strong feeling than economics has been the American “Way of trading” for decades. But the Internet is assisting to change this, since you can find a riches of invaluable information before you make a buy. You can do extensive study before a making buy, checking out the Timeshare Users assembly (http://www.tug2.net), examining other timeshare auctions and classified sites, and even calling a the holiday resort. 

When a buyer makes a buy founded on emotion, he or she will generally pay more for a merchandise than essential. A couple of dollars isn't a big deal, but injecting a little economics can be very cooperative. We love people who ask passionate inquiries. They get more data, which loans excitement and joy to the bidding method. 

More Economics than Emotion

In his publication ”Don’t Worry, Make Money,” Richard Carlson has taken a time-worn phrase and re-engineered it. He has a section titled: 

“Consider the Possibility that if it Sounds too Good to Be factual – It Might NOT Be”

Read that afresh slowly. Carlson states that cynicism, question and question origin persons to overlook out on very good opportunities. We see this every day. 

We get e-mails that state: 

* “Why so cheap – what is wrong with this property?” 
* “What haven’t you notified me in your auction?” 
* “This is a rental – right?” 

These persons are involved, but they’re furthermore very wary. Some are wary to the issue where they don’t participate. Their decision is based on economics and some contradictory emotions. 

These wary people brush aside the outlook of a good deal, because they’ve perceived about the charges others have paid. But if they were to inquire us, we would tell them 500,000 timeshare proprietors desire to sell their properties, and that conceives a huge purchasers market.

Our business buys properties at a reduced price and deals them for more than we paid for them. Of course, we make a earnings, but we let the market notify us how much the earnings will be. People who are more propelled by dollars than emotion struggle with this. But this approach has worked for us more than 300 times, so there must be certain thing it!

There is an supplemented business advantage to our approach: Our timeshare goods don’t sit around – they habitually deal. This means we return our capital much quicker to buy more timeshare properties. persons who worth economics like to discover that. It’s key to our enterprise form. 

Finding Your Balance

seldom is a conclusion founded on identical parts strong feeling and economics. These factors arrive in different power for distinct persons.

We suggest an exercise that is effective for every person. If you are inclined towards one E Factor or the other, work on the feeble side before you location a bid. When you find the right balance, your Emotional edge will be joyous, and your Economical edge will let you doze at evening.

Our auction world wide web location provides detailed articles help your Economical edge design better, and images and personal tales will give your Emotional side a lift by showing you those places you just HAVE to visit!

Get your life in balance today!

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What are Timeshares?

It worked well, and the idea spread throughout the world.1

There are two main types of timesharing plans: deeded and non-deeded. With the deeded type, you buy an ownership interest in a piece of real estate. In the non-deeded plan, you buy a lease, license, or club membership that lets you use the property for a specific amount of time each year for a stated number of years. With both types, the cost of the unit is proportionate to the season and the length of time you want to buy.2

Before You Buy

As with any major purchase, you need to understand what you are getting before you sign any papers or pay any fees. The general information should be accompanied by careful analysis and perhaps even professional advice that concerns all aspects of a particular timeshare purchase.

Before purchasing a timeshare consider the following points.3

* A major reason people buy timeshares is for the convenience of having prearranged vacation facilities. Therefore it would be wise to determine whether you will be able to use the timeshare facility regularly. When evaluating a timeshare with units in several locations, consider whether sufficient units are available at the sites you prefer at the time you want to use them.
* Question any investment claims made by the seller. The future value of a timeshare depends on many factors. Resale of timeshares is almost impossible.4 So, if you are considering buying a timeshare, do it, realizing that you will probably not be able to resell it; and, even if you are able to sell, you probably won’t be able to sell it for anything close to your original purchase price. Closing costs, broker commissions, and financing charges also must be considered as part of the investment costs.
* The total cost of a timeshare includes mortgage payments and expenses, such as travel costs and annual maintenance fees. The annual maintenance fees usually rise to equal or exceed inflation and could add hundreds of dollars to the purchase price. To help evaluate the purchase, compare the total timeshare costs with rental costs for similar accommodations and amenities for the same time in the same location.
* Do not act on impulse or under pressure. Review all documents or have someone familiar with timesharing review them before you make a purchase. Do not be pressured into making a purchase without having a couple of days to think about it. Find out if the contract provides a cooling-off period during which you can cancel the contract and get a refund.
* Be sure everything the salesperson promised orally is written in the contract.
* Remember that exchange programs, which offer the opportunity to arrange trades with other resort units in different locations, cannot be guaranteed. When you trade your timeshare unit for another, expect one of approximately the same value.
* Many timeshare sellers offer gifts to potential buyers who will listen to a timeshare sales presentation. Consider the value of these gifts or prizes. Most are of little value.5 It would be to your advantage to attend a sales presentation only if you are interested in the program.
* Your timeshare will be a good place to vacation only if it is run properly. Therefore you should consider researching with local real estate agents, Better Business Bureau, and consumer protection offices, the track record of the seller, developer, and management company before you make your purchase.
* If you are considering buying a timeshare on property where the facilities have not been completed, get a written commitment from the sellers that the facilities will be finished as promised, and require that a certain amount of your money be held in escrow.6
* Find out what your rights are if the builder or management company has financial problems or in some way defaults. Make sure that your contract has both non-disturbance and nonperformance clauses. A non-disturbance clause ensures that you will continue to have use of your timeshare unit in the event of default and subsequent third party claims against the developer or management firm. A nonperformance clause allows you to keep all your ownership rights even if a third party is required to buy out your contract.
* If you have any questions or complaints regarding timeshares or a timeshare that you have purchased, contact the Real Estate Commission of the state in which the timeshare property is located, as well as the Correspondence Branch, Federal Trade Commission, Washington, DC 20580.

How Timeshare Resale Scams Operate

If you already own a timeshare, be cautious about people who offer to help you resell the timeshare for a fee. Because many of these types are rip-offs, be careful to deal only with legitimate sales companies. Companies that use questionable resale practices operate like many other telemarketing scams. You might be contacted by a telephone salesperson or through a postcard, asking you to call a particular telephone number about selling your timeshare. The salespeople are likely to tell you that the market for resale of timeshares is “hot” and that their company has a high success rate in reselling these units. They may even claim that they have extensive lists of sales agents and potential buyers for timeshares and for an advance fee of hundreds of dollars these salespeople promise to sell your timeshare for a price equal to or greater than the amount you originally paid.7

The market for resale is actually extremely poor, because there is no secondary market for timeshares.8 Currently American consumers own 1.5 million timeshares. Approximately 870,000 of these are presently available for resale, with 845,000 for sale far below the original purchase price. In truth, over the past 20 years, only 3 percent of owners who have wanted to sell their timeshares have been successful, and the vast majority of those have had to sell below their original purchase price. So, it is highly unlikely that a company can sell the timeshare at all, let alone for the original purchase price.

There are some precautions to consider if you decide that you want to resell your timeshare and are approached by a resale company. (1) Do not agree to anything over the telephone. (2) Ask the salesperson to send you written materials to study. (3) Ask for company references of customers who have used their services. (4) Ask where the company is located and in what states it does business. (5) Ask if the company’s salespeople are licensed to sell real estate by the state where your timeshare is located, and check with the state licensing board to verify the information. (6) Be cautious of any company charging an advance “listing” fee for its service.9

Conclusion

Timesharing is not an investment product and is not intended as a way of making money. It is, though, a financial commitment to your leisure enjoyment. So, how much is leisure and preplanned vacation time worth to you? This is the question that must be asked before you decide to buy a timeshare. If it is not worth thousands of dollars in initial investment, plus hundreds more in maintenance fees, then you should probably stay away from timeshare promotions. But if, on the other hand, you enjoy preplanned vacations and realize that timeshare is not a money making investment, then it may be a good choice for you.

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What to Look for in a Timeshare

Look! You are going to steal any timeshare you buy on the resale market anyway. The resale market is just starting to come into it's own. Prices fall in a market vacuum and there has been a market vacuum in resales since the timeshare industry started twenty-five years ago. Now, people such as us are starting to make a serious business of resales. This means that the least expensive weeks are going to get sold first. Like harvesting apples, you shake the tree and pick up the apples. The next time you have to shake the tree harder. The long-term prognosis is that resale timeshares will increase in price. I believe that anyone buying a resale in today's market just isn't going to get hurt unless they are entirely unknowledgeable about current market value or they are not looking for good product. At these prices, buy the best! It's affordable.

So how do you find out what you should pay for a given property? This publication is certainly a good start, but not everyone advertising has a realistic idea of what their property is worth. The Internet also lists weeks for sale, but it is still young, therefore imperfect. The resort itself should yield some information and is always worth a call. Although it sounds self-serving, the best bet is to call a Real Estate Broker if one is involved with that property. Normally, people in general real estate are simply not yet knowledgeable about timeshares. Seek out a broker specializing in what you want. They are going to want to make a deal and will tell you what you will actually be able to purchase at the lowest price. They will also give you accurate detailed information about the resort itself. Further, a good broker will counsel you about your needs and try to direct you to the product, which will actually end up best serving you. They are not emotionally tied to any specific week or project. They know that if they do a good job for you, you will refer others to them and return for more yourself.

The most important criteria is to buy into the project you like the best. If you are buying just to exchange, this is still important. If you think you can buy a cheap February week in Hog's Breath, Idaho and exchange it for the Whaler at Maui over Christmas, think again. It might happen once every 50 or 60 years, but generally you are not going to get great exchanges using an unexciting week to trade. It seems almost redundant to say, "Buy Quality!" but it needs to be said here... particularly at these prices. You can buy quality resort timeshares today for 20% to 30% of replacement value! Why would you not go for the best? Another thing just coming into the business is resale financing. We offer 80% four year loans to our customers so immediate cash requirements should not be a big problem. All we require is good credit and a good resort with the timeshare being purchased at a realistic resale price.

After you have selected your week and have obtained a good price, there are still a few things you should do for your own protection:


Get a policy of title insurance unless you know the history of the timeshare week. Sometimes people get a "great deal" only to find that there is a tax lien of several times the entire value attached to the week. In others, the original loan was never satisfied. The Seller might have paid it, but they never received a reconveyance. The great Savings and Loan debacle was famous for this. By the time the loan was paid, the S&L was no longer around and there was no one to sign the reconveyance. Some resale brokers do not bother with this. Our advice is that if they do not, don't bother with them. In some cases, the title policy is so expensive relative to the price, it just doesn't make sense to buy it. If that is the case, you should still research the title to make sure there are no visible defects.


Go through an escrow. Unless you are buying from someone you know, (and not often even then) you will be better off having the neutral third party holding the funds and deed until it is time to make the swap. In the east, attorneys perform this function.


The Seller is required by law to disclose anything wrong with the property, but how many know that? Further, what guarantee do you have that the Seller even knows that something might be wrong? Your best bet to protect yourself is still the Broker. Get references. Check with the usual agencies including the Real Estate Department to make sure that the Broker has a license. The resort itself might be able to refer someone who has had no problems. Title companies are also a good reference.

Have you picked up a trend here? Notice that as the industry matures, resales will start to look more like resales in the regular housing market. A fledgling resale marketing system will mature, develop good standards and the boomers will leave. As that continues, price of resales will start to stabilize at higher levels.

The timeshare product is incredible. It really enhances people's lives and saves them a fortune on truly splendid vacations. As more understand this, more will purchase. The truly smart ones will purchase a resale through a licensed Broker just as you would a house. They will have many years of enjoyment and eventually probably get their investment (or at least most of it) back.

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What Timeshare is All About

With timeshare the use and costs of running the resort are shared among the owners. While the majority of Timeshare resorts are condominium vacation resorts, developers have applied the timeshare model to houseboats, yachts, campgrounds and motor homes.

History of Timeshare

The notion of a timeshare was originally created in Europe in the 1960s. A ski resort developer in the French Alps innovatively marketed his resort by encouraging guests to "stop renting a room" and instead "buy the hotel". The developer was successful in increasing occupancy and the idea spread worldwide.

Timeshare Methods of Use

Timeshare owners may elect to:

* Use their usage time
* Rent out their owned usage
* Give it as a gift
* Exchange internally within the same resort or resort group
* Exchange externally into thousands of other timeshare resorts

Timeshare owners can elect to stay at their resort during the prescribed period, which varies depending on the nature of their ownership. They can rent out their week or give it as a gift to friends and family.

Timeshare offers owners the possibility to exchange their week, either independently or through several exchange agencies, to stay at one of the thousands of other resorts worldwide. The two largest exchange agencies are Resort Condominiums International (RCI) & Interval International [II] and there are several independent exchange agencies. RCI and II both have resort affiliate programs and members can only exchange to affiliate resorts. It is rare to find a dual affiliate resort, it is more common for a resort to be affiliated with only one of the larger exchange agencies. RCI is the largest with over 3,800 resorts split between its weeks and points programs. II has more then 2000 resorts. It is important when considering timeshare ownership to consider which locations and resorts you may want to travel to before making your purchase, because the timeshare resort you purchase at will determine which of the major exchange companies you can exchange through. Both RCI and II charge membership fees and exchange fees. They also bar members from renting weeks they have exchanged for.

Timeshare owners may also arrange a direct exchange, this requires locating a timeshare owner with the location and weeks both mutually desire. This form of exchange is rare but since it can save in exchange fees it is often sought after.

Color Time

Color time refers to the travel season for any given resort. For RCI, the designations are:

* Red: high demand season
* White: intermediate season
* Blue: low demand season

For II, the designations are:

* Red: high demand season
* Yellow: intermediate season
* Green: low demand season

Types of Ownership

* Fixed, Floating and Rotating Weeks

Ownership is often sold as weeks, the use of these weeks can be fixed, floating or rotating weeks.

* Fixed Week Ownership

The most basic timeshare unit is a fixed week; the resort will have a calendar enumerating the weeks roughly starting with the first calendar week of the year. As an owner you may own a deed to use a unit for a single specified week. For example week 26 normally includes the Fourth of July Holiday. If you owned Week 26 at a resort you could use your week every year.

* Floating

Sometimes a timeshare is sold as floating weeks. The ownership will be specific on how many weeks you own and from which weeks you may select for your stay. An example of this, a timeshare may be a floating summer week where the owner may request any week during the summer season generally weeks 22 through 36. In this example there would be competition for prime holidays such as the weeks of Memorial Day, Fourth of July and Labor Day. The weeks when schools may still be in session would not be so high in demand. Some floating contracts exclude major holidays so they may be sold as fixed weeks.

* Rotating

Some timeshare is sold as rotating weeks. In an attempt to give all owners a chance for the best weeks the weeks are rotated forward or backward through the calendar so one year the owner may have use of week 25, then week 26 the next year and then week 27 the year after that. This method does give each owner a fair opportunity for prime weeks but it is not flexible.

* Deeded vs. Right to Use

A major difference in types of timeshare ownership is that between deeded and right to use contracts. With deeded contracts the use of the timeshare resort is usually divided into weeklong increments and these are sold as fractional ownership and are real property. As with any other piece of real estate you may use your week, rent your week, give it away, or leave it to your heirs.

With right to use, the timeshare purchaser has the right to use the property in accordance with the contract but at some point the contract ends and all rights revert to the property owner. In other words, the right to use contract grants the right to use the resort for a specific number of years. In many countries there are severe limits on foreign property ownership so this is a common method for developing timeshare resorts in countries such as Mexico. Disney Vacation Club is also sold as a right to use.

* Vacation Clubs

Vacation clubs are organizations that may own timeshare units in multiple resorts in different locations. They are sold both as deeded or right to use and club members may reserve vacation time at any of the owned resort units based on availability.

* Points Programs

Resort based points programs are also sold as deeded and as right to use. Points programs annually give the owner an amount of points equal to the level of ownership. The timeshare owner in a points program can then use these points to make travel arrangements within the resort group. Many points programs are affiliated with large resort groups offering a large selection of options for destination. Many resort point programs provide flexibility from the traditional week stay. Resort point program members may request from the entire available inventory of the resort group.

Exchange company point programs are not a method of ownership nor are specifically associated with one resort or resort group. With the exchange company points programs the members may be limited to exchanging for weeks deposited by other members.

A points program member may often request fractional weeks as well as full or multiple weeks stays. The number of points required to stay at the resort will vary based on a points chart. The points chart will allow for factors such as:

* The popularity of the resort;
* The size of the accommodations;
* The number of nights;
* The popularity of the season;
* and the specific nights requested.

There is flexibility as well as complexity in point programs.

Important Note on Ownership

* With any of the above mentioned ownership methods, a timeshare owner is legally and contractually tied to that ownership.
* A timeshare owner has rights, responsibilities and legal obligations. Once the timeshare contract is made it is not easily ended.
* These contracts and obligations belong to the timeshare owner until the timeshare is sold or ownership is transferred through some other means.

Rescission Period

In many developer contracts (and often required by government statutes and/or regulations) there may exist a Rescission period. The Rescission period outlines how many days after a timeshare purchase, from a developer, that a buyer has an opportunity to change their mind and cancel the purchase. The Rescission period is usually only a few days long and the buyer must follow the cancellation procedure exactly or risk the request to rescind being ignored.

Types and Sizes of Timeshare Units

Timeshare properties tend to be apartment-style units ranging in size from studio units (with room for two) to three and four-bedroom units. These larger units can comfortably house large families. Timeshare units normally include fully equipped kitchens with a dining area, dishwasher, televisions, VCRs and more. It is not uncommon to have washers and dryers either in the unit or easily accessible on the resort. Kitchens are equipped to the size of the unit, so that a unit that sleeps four should have at least four glasses, plates, forks, knives, spoons, and bowls so that all four guests can sit and eat at once.

Timeshare units are usually listed by how many the unit will sleep and how many the unit will sleep privately.

* Sleeps 2/2 would normally be a one bedroom or studio
* Sleeps 6/4 would normally be a two bedroom with a sleeper sofa

Sleep privately refers to the number of guests who will not have to walk through another guests sleeping area to use a restroom. Timeshare resorts tend to be strict on the number of guests per unit. Unit size can effect demand at a given resort where a two-bedroom unit may be in higher demand than a one-bedroom unit at the same resort. The same does not hold true comparing resorts in different locations. A one bedroom with a great location may still be in higher demand than a resort with less demand. An example of this may be a one bedroom at a great beach resort compared to a two bedroom unit at a resort located inland from the same beach.

The concept of vacation timeshare has also been extended to luxury items such as planes and luxury cars.

Scope of Timeshare Industry

Today's timeshare industry includes over 5000 resorts worldwide, for a total of 11 million timeshare "intervals" that have been individually sold to nearly 7 million families around the world. There are timeshare resorts around the world. Global timeshare sales total over $9 billion annually. ARDA, American Resorts Development Association, reported that in the USA, as of January 1, 2005, there were 1668 timeshare resorts serving 3.87 million US households. Ownership has increased in the USA 16.2 percent in 2004 and 13.8 percent in 2003.

There exists a resale industry for the resale of timeshare intervals. Many of these can be found searching the Internet as well as an active market in the online auction sites such as that on eBay.

Pros and Cons of Timeshares

The timeshare industry has been widely criticized and even sometimes likened to a travel scam. Unlike the customary renting arrangement, where the customer decides every year on the quality and price of accommodations, timeshare requires to make a major payment up front. There exist doubts as to whether timeshare buyers ever recover the money spent, but the vast majority of timeshare owners have no desire to exit the system and find the quality of their holiday accommodation makes their financial outlay a logical expenditure.

There are also some complaints that owners have to return to the same resort every year, but there exist several companies - the best known being Resort Condominiums International (RCI) & Interval International - that enable timeshare owners to exchange their weeks into literally thousands of resorts around the world. There are a growing number of independent timeshare exchange organizations available to timeshare owners.

Other complaints include issues surrounding the yearly maintenance fee. Some critics talk of ever escalating fees that mean owners cannot afford to keep their weeks due to financial pressure.

One of the major benefits of the product is the fact that vacation timeshare is real property. Resort developers purchase land in a location and develop a timeshare resort. They are actually selling consumers deeded weeks of real property at a specific location, meaning customers can do what they wish with the weeks they own. This flexibility includes the opportunity to rent out weeks that are not used or indeed to lend them to friends or family.

Like any other product, timeshare exchange is subject to the law of supply. This should make the exchange mechanism a fair and meritocratic system. For example if a timeshare owner deposits a studio apartment in low season that owner is unlikely to be able to exchange into a villa during a country's high season. In practice the major exchange companies have proprietary exchange formulas that add complexity to the system. The study of and issues revolving around exchanging are beyond the scope of this article and should be researched before making any timeshare purchase.

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Where's the Value of Timeshare Is?

As he walked into our little land office in Placerville, California (about sixty miles west of South Lake Tahoe), he said, "I've got the keys to the bank" and proceeded to tell me about this new concept called timesharing. I responded with "Forget it, Jack. It won't work." Jack was persistent, persuasive and before long we were the developers of one of the first timeshare projects in the country (RCI #0078). And so I began what would become a lifetime journey.

Fast forward to several years later after Jack's retirement. Along came Larry who became another close friend and sales associate. During this time the two of us were selling it. I would tell Larry that this was no scam and really had substance. His response was, "Yeah, yeah, sure", but he kept going until it was done.

Now it was time for the first general Owner's Association meeting. I coerced Larry into attending. After the very upbeat meeting, one of the Owners' wives approached us. Larry kind of slunk over behind me thinking I would absorb most of the blows. She took my hands and with tears in her eyes said, "Thank you, thank you so much! You have really improved our lives!" One of the funniest things I have ever seen was the look on Larry's face. His jaw had dropped and he was absolutely stunned. It would be a few more years before he would completely accept that this concept was so sound, but he eventually became an active owner of several timeshares himself.

As we were selling that property in the early 1970s I would tell people, "You better buy one of these now, because if you don't, you will be paying a hundred dollars a night for a hotel room." They would say, "Nah, that will never happen." Today it is hard to find a Holiday Inn room for under a hundred dollars a night.

Guess what the rack rate of the Mark Hopkins hotel in San Francisco (Top of the Mark) was in 1942. It was $5 single and $7 double. For servicemen it was $3 single and $5 double. By 1974 it was $45 single and $55 double. Now it is $210 to $270 single or double depending on the location. Projecting this ahead another fifty years and you will be paying $9,058 a night for a hotel room there! And I can just hear most people saying, "Nah, that will never happen."

The reason for owning a timeshare is the same as the reason for owning your own home. It will cost you much less in the long run and you will end up with something of value. Just think of the value to your children who stand to benefit the most from your foresight. It is a shame that more of them don't realize how important this is and only focus on the upkeep. The smart ones will be enjoying vacations that are way beyond their means for the rest of their lives.

After thirty years, my take is this: You will save about half of what you are currently spending on vacation lodging. But the real kicker is that you will be staying in facilities that are more luxurious than anything you would even consider. How many of you will spend $350 to $500 a night for a place to sleep? Not me! Ever! But I do enjoy that level of vacationing through my timeshare ownership.

So much for the financial side. Now how about the real value? What do you remember the most about your childhood? Isn't it the family holidays? The times you spent together and felt so close to your family? An observant doctor once said, "I never saw anybody who, on his or her death bed said "I wish I had spent more time at the office." In today's crazy world no one has time for even the most basic activities. The family is under the greatest stress ever. The sad fact is that in the time of the greatest need most families don't even get that so important vacation together.

One of my greatest satisfactions in life is selling a timeshare to a family that really needs it! They can be in a family business and prone to never taking a vacation. Or they can simply be stressed from having to pay for meals and lodging for themselves and three or four children and blowing the family budget for the next three years. That situation with the woman who thanked me so much at the first Homeowner's meeting has repeated itself many times. Whatever the situation, I know that I have improved their lives in terms of real value. Whether I end up rich or poor, I will always be rich for the good I have done for people in terms of helping them to achieve the real values of life.

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Why Buy A Timeshare?

The security of other Timeshare owners at your resort.

Many resorts to choose from with the exchange program world wide .

Lock in your timeshare vacation accommodations.

For example: If you purchase a timeshare today at $5,500.00, use it 10 years and sell it at the same price you paid for it originally...you end up with equity.

In contrast: if you rented a hotel room you would have useless receipts. As with most deeded resorts you can rent it , sell it , lend it , exchange it or present it as a gift of precious memories for that special event in your life... honeymoons, anniversaries, family reunions.

Time share makes sense.

Time share vacations are diverse.... from a log cabin next toski.jpg (15090 bytes) a trout stream to an exotic tropical paradise in the South Pacific to the exciting ski slopes of The Rockies, you can be assured that your accommodations are first class .

You don't have to be a millionaire to enjoy luxury vacations. You also get many benefits when you are a timeshare owner, travel agents ,discount air fares ,bonus weeks you can even gift these to your business associates and loved ones for that vacation of a lifetime .

Are you interested in Vacation Resort Ownership?
Here is some basic information you will need to know before you buy a timeshare :

When you buy from an owner there is a TITLE company that will guarantee clear title for you. When you buy from an owner you pay far less than you would if you bought from a DEVELOPER or a BROKER .WHY? you are eliminating the middleman when you buy directly from a timeshare owner.

Types of Time-share Ownership:
Deeded: You will have a recorded "Deed" with this type of ownership. Your period of ownership is forever.

Right-to-Use: This type of ownership is for a set amount of time. After the agreed time of ownership expires, ownership converts back to the Grantor. During your ownership, you can convey your ownership to another party.

Membership: This is not an ownership, it is a "Membership". You pay a large sum of money to buy into the membership plus there are annual membership fees. Be very cautious of this type of Time share. Usually the language in the membership agreement states: if you miss one of the annual payments, your membership will terminate. Some of these memberships can be transferred, some can not.

NOTE: Some Resorts also offer bi-annual ownership. (check your paperwork)

Periods of Time-share Ownership:
Usually your time share period (check-in date) is numbered from 1-52. Week "1" starting in the first week of the year. Week "52" being the last week of the year.

"Floating/ Flex" periods. Which can be divided into Seasons (Blue Floating/Flex) (White Floating/Flex) (Red Floating/Flex). If your ownership is for a Floating/Flex period, you can check-in on different dates according to your ownership.

Blue Season (Good): Also known as "off season". This would be the time of year which the Resort and location is of the least demand. If you own a "Blue Floating/Flex" period, you will only be allowed to check in during these "off season" dates. If you are planning to buy a "off season" week, plan on getting it for a cheap price.

White Season (Better): Also known as "mid season". This would be the time of year which is between "Off Season" and "Peak Season". The time of year right before the "Peak Season" starts and right after the "Peak Season" is over. If you own a "White Floating/Flex" period, you are allowed to check-in during the "mid season" and the "off season" dates. If you are planning to buy a "mid season" week, plan on getting it for a reasonable price.

Red Season (Best): Also known as "high/peak season". This is the time of the year everyone wants to be at the resort (highest demand). If you own a "Red Floating/Flex" period, you can check-in any time of the year. If you are planning to buy a "peak season" week, plan on paying a pretty penny for it.

NOTE: Interval International (an exchange company for timeshare) rates Blue as Green, White as Yellow and Red as Red.

Size of Time-share Ownership:
Studio: A small unit, usually similar to a hotel room. Sleeps two, sometimes four.

One Bedroom: Similar to a small apartment: a living room area, kitchen area, with a private bedroom. Usually sleeps four (two in the bedroom and two on a pull-out sleeper sofa in the living room area).

Two Bedroom: Usually sleeps six (two in one bedroom, two in the other bedroom and two on a pull-out sleeper sofa in the living room area). Some two bedroom units can sleep eight, if it has a loft.

Lock-Out: These units vary in size, usually divided into two separate apartments. Each with its own living room and kitchen areas. If you own a Lock-Out unit, you can use one and exchange or rent the other. These units can be big enough to sleep eight to twelve people.

Obviously a Deeded two bedroom unit during "Peak Season" would cost a lot more than a Studio unit during "Off Season". Of course, there are other factors to the value of a timeshare unit, but this is the basic frame work of timeshare value.

Costs of Time-share Ownership:
Purchase Price: The amount of money paid for ownership plus any "transfer fees" (can range from $50 to $500).

Maintenance Fees: The amount of money paid annually for maintenance of your unit. This amount can range anywhere from $100 to $700.

Property Tax: The amount of tax to be paid by you for your time share unit. This amount is usually reasonable, ranging from $10 to $100.

Special Assessment: This the amount of money the Resort can require you to pay on a un-regular basis. Usually for a re-modeling project, check your timeshare documents for the max amount they can charge you and how often they can charge you. This amount can range from $20 to $400, you may want to check the Resort history record for past amounts and times.

Time-share Resale:
Why not buy a time share directly from the owner? Buying a time share directly from an owner can save you thousands of dollars....No Commissions, No hidden charges ever!

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Why Can't We Ever Get Bonus Time??

When that subject was introduced, the entire auditorium started yelling, "Yeah, why can't we ever get bonus time?" At that point one gentleman stood up and said, "I don't know what you're talking about. I've been there on bonus time fourteen times in the last six months." I became concerned that we might have a riot and all the other unhappy Owners would injure him. Now, how come the experiences were so different?

First, you must remember what Bonus Time really is (that is besides a sales feature). Originally, not all the time was sold in specific resorts. Anywhere from 48 weeks to 51 weeks of the 52 available were sold. The rest were designated "Maintenance Weeks". They were the time when the resort would be refurbished. It was later found that most of this kind of maintenance could be accomplished "on the fly" and 52 weeks were actually sold. Theoretically, if everyone showed up for their reservations and the maintenance weeks were actually fully used, there would be no bonus time…none! Unfortunately, some original salespeople said, "You can have bonus time whenever you want in addition to your reserved week." Again, theoretically possible, but not really practical.

So Bonus Time is actually the unused maintenance time plus the time that certain Owners either don't make a reservation, don't show up at all, are unable to use their time because of failure to pay their maintenance dues or leave early. That's it and it is spotty. It does, however exist. Most resorts will end up with a vacancy factor of between 5% and 15% of their usable time. So where does it go? Those who know how to use it do. Here's how you go about it.

When are people most likely to not show up? In the off season and even more so midweek in the off season. Thus the most likely time you will be able to get Bonus Time in Southern California will be November through February at the beach and July through September in Palm Springs. This doesn't necessarily mean that these are not good times. Some November days at the beach are among the best you will find, warm days and beautiful sunsets. Early mornings and late evenings in Palm Springs are uncrowded and delightful. If you aim for midweek off-season you will probably be pleasantly surprised at how many times you actually get Bonus Time.

Next is when should you ask for Bonus Time? About 3:00 PM on the check in day is when the husband will turn around, look in the back seat of the car and ask, "What are those funny looking spots on the kid's faces?" The call canceling the reservation will be made by about 4:00 PM. If your call comes in at 4:15 PM, you have a good chance at snaring that spot which was suddenly left vacant. And that is the secret that the gentleman used at the beginning of this article. He would simply call at the last minute and if there were space he would come. If not, he wouldn't. Another good time is after noon of the day after check in day. That is when the front desk will tally up the no-shows, call them and verify that they in fact are not coming. Suddenly, their reservation becomes a bonus time potential.

Every resort will have it's own idiosyncrasies. To be successful with Bonus Time, it is up to you to figure them out. Another tip is that it always is a good idea to be on good terms with the front desk personnel. If they like you they may sometimes be able to help you. You will most certainly get the nod over the grouch who is always demeaning and criticizing them.

So the tricks to achieve Bonus Time are: 1) Use your head to figure out when your odds are best; 2) Be on good terms with the people who can help you; and 3) Call at the right time. I tell people that it is hardly worth the price of the phone call to try to get Bonus Time at the height of the high season on a weekend but those who exhibit flexibility and will roll with the system end up with more than their share. Every project is different but you can figure them out. With this knowledge you should have good luck with your Bonus Time. But, as I have always said, "I would rather be lucky than smart."

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