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Thread: Timeshares

  1. #1

    Default Timeshares

    I've always heard of stories of Edmontonians going on a vacation (Vegas, Florida, etc.) and coming back owning a timeshare. However, I was just reading about people taking 100% losses in trying to sell them and even paying to get out from under the contract.

    That sounds like a horror story to the individuals and a huge potential drain from our local economy. Those people could have blown their money at home rather than abroad.

    Your thoughts, experiences?

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    My folks had a timeshare in Fairmont Hot Springs in the 1980s. After a while, we stopped going, so I assume they sold it. Not sure how they made out financially.

    I have no idea about the economics of it, so I can't say how time-sharing every year compares to just staying in a hotel every year, in the long run. If someone is doing the latter, that's also going to be a drain on the local economy. As is buying a retirement home in Arizona instead of Pigeon Lake.

  3. #3

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    Oh Fairmont, I spent some time there in the 90s when my parents had a timeshare & it was good times.

    Then they went belly up, restructured & then the new company started demanding money for renovations/maintenance & if you didn't want to pay you had to pay 3/4 of the renovation fees to walk away. My parents chose to walk away at that point, but I know there were lawsuits involved.

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    Quote Originally Posted by noodle View Post
    Oh Fairmont, I spent some time there in the 90s when my parents had a timeshare & it was good times.

    Then they went belly up, restructured & then the new company started demanding money for renovations/maintenance & if you didn't want to pay you had to pay 3/4 of the renovation fees to walk away. My parents chose to walk away at that point, but I know there were lawsuits involved.
    Interesting. We had gotten out by the late 80s, so I guess we missed all that restructuring stuff.

    I know some relatives of mine also bought a Fairmont timeshare in the 80s, and still had it as recently as the mid-2000s. So I guess at least one family stuck it out.

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    I've never heard from anyone that traditional timeshares are a good deal. Unless you're willing to sit through the hour presentation just to get a free massage or whatever they're using to induce people.

    There's other options out there now, like Luxus for example: http://www.luxusgroup.com/our-compan...on-properties/

    I'm not sure if Luxus is actual equity, or something else. There's 3 or 4 main models for this kind of thing, which run from timeshares where you don't own anything to full fractional ownership, with Luxus somewhere in between.

  6. #6

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    Paying for no tangible ownership seems like a bad idea. I mean, even buying a new car gives you something in return.

    My friends parents own property in warm spots, but that is quite different than a timeshare.

  7. #7

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    Get-out-of-your-timeshare advertisements seem pretty popular these days. Seems like generally bad investments.

  8. #8

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    Sign up for www.redweek.com for timeshare sales and rentals. A lot of owners will rent out their timeshare for cheap (often as low as their annual maintenance cost) when they are unable to go. I got a villa for a week in Atlantis resort (Bahamas) for about 25% the the best price that I could get from the resort directly. The owner was just happy to have someone cover his overhead.

    So renting timeshares is basically getting all the benefits of owning a timeshare without the burden and risk. And you can pick your dates and destination without being locked into the same place at the same time every year.
    Last edited by bolo; 03-02-2017 at 02:35 PM.

  9. #9

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    My mom still has one in Banff. Still gets used, and not too hard to get to so it hasn't been a horrible deal.
    There can only be one.

  10. #10

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    I hate it when you are in Vegas and people approach you with invitations to go to some hall in a hotel and insist you will not regret it. Don't go. It's usually very aggressive sales people selling time shares. A couple I know went to one of these things and they said the sales people were very high pressure. Even to the point they had transportation ready if people wanted to go look at the time share properties. They said they almost felt like they were being held against their will that's how bad the sales people were. I should imagine a lot of people have buyers remorse after signing up for these deals.
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  11. #11

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    Interesting article here:

    I sat through a timeshare sales pitch on my holiday. Worth it?

    https://thomasthethinkengine.com/201...-worth-it/amp/

  12. #12

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    ^Sounds about what my friends had to put up with. Glad I was forewarned about this. I would have been ticked right off to get caught a time wasting situation like that.
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    Quote Originally Posted by Marcel Petrin View Post
    I've never heard from anyone that traditional timeshares are a good deal. Unless you're willing to sit through the hour presentation just to get a free massage or whatever they're using to induce people.

    There's other options out there now, like Luxus for example: http://www.luxusgroup.com/our-compan...on-properties/

    I'm not sure if Luxus is actual equity, or something else. There's 3 or 4 main models for this kind of thing, which run from timeshares where you don't own anything to full fractional ownership, with Luxus somewhere in between.
    The wife and I have had a few pretty good dinners out of these presentations. We've gone 3-4 times with absolutely no interest in buying anything and have even been upfront about that. More just about morbid curiosity. The sales people are usually so cocky they are convinced they will change your mind. We just walk out laughing saying thanks for dinner. I'm amazed we're not blacklisted from these presentations as we've even caused other people to leave by modeling that you just walk out after dinner.

    I would stay away from Luxus as I would any timeshare.

    Just a last comment but every timeshare seems to tell you you can switch to have a holiday in other affiliated locations. Except theres usual costs with that and also good luck trying to book what you want, anywhere close to the destination you want, within your holiday schedule.

    Stay far away from timeshare presentations. unless you like free dinners, free gifts and so on. I would though avoid the Free holiday in Florida type timeshare camps where they pay you to go out there and at which you do feel more trapped. We haven't done that but heard a lot of stories.

    Its amazing timeshares still exist really.
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  14. #14

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    I would not go to one of those time share presentations for a free dinner. Wasting time just for a free meal is just being cheap. Let's listen to four hours of crap just to get a free steak and baked potato, forget it. Not worth the agro. Although some people would walk over hot coals if they got something free at the end of it.
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    Quote Originally Posted by Gemini View Post
    I would not go to one of those time share presentations for a free dinner. Wasting time just for a free meal is just being cheap. Let's listen to four hours of crap just to get a free steak and baked potato, forget it. Not worth the agro. Although some people would walk over hot coals if they got something free at the end of it.
    We've had 4 course meals btw and simply left after a brief presentation. Never been there more than 2.5hrs. On winter evenings where we weren't going to be doing anything anyway. The food was good, and we were curious. I also sometimes like being challenging, that should be obvious, and so I find opposing the sales agents as added entertainment. Combined with liking hearing about other places its interesting anyway. I watch any travel documentary I can so its not outside of my interest. Sometimes we end up going to places, just not the timeshares, due to a timeshare featuring some such place.
    Plus I get no aggravation whatsoever from it. I find the sales techniques amusing. I'm absolutely immune to high pressure sales techniques. I'm like the guy KC linked earlier that just went to the presentation to get free ski tickets and even stated that. I practically wear a T shirt at these things saying "I'm just here for the dinner.."
    Last edited by Replacement; 04-02-2017 at 12:11 PM.
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  16. #16

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    .............so what your are saying is your are more of a cheap timewaster rather than a time sharer. Is that the impression you are trying to convey?.
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    Quote Originally Posted by Gemini View Post
    .............so what your are saying is your are more of a cheap timewaster rather than a time sharer. Is that the impression you are trying to convey?.
    If I wasn't a time waster I wouldn't be posting this plus I'm not even getting any dinners out of this gig...

    hey, I like your Mark Twain quote. I love his work as well. Particularly his humor.
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    I would go only to a Luxus sales dinner if I get to meet Carrie Doll!

    I know people who have bought into timeshares with mixed results.
    Some have timeshares in the Rockies that they every year with no issues, and love it.
    Others have timeshares in the tropical destinations, but end up not using them because it's much cheaper to use all-inclusive travel instead of using the timeshare and paying separately for flights, food, and all that.

    Timeshares are only beneficial if they are used every year, if your week can be transferred to another time or location, or can rent them out.
    Some buy them with the intention of renting them out, but end up with problems doing so.
    The annual maintenance fees can be a major issue. In many places they are so ridiculously high for what you're getting that you might as well just rent a place for the same time period.
    Last edited by Sonic Death Monkey; 04-02-2017 at 05:38 PM.
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  19. #19

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    Seems like a broken business model with an ever more dissatisfied clientele. Why not offer some sort of conciliation prize (sell an alternative service) for those that can endure the presentation. Say heavily discounted accommodation at some timeshare someone is trying to sell, to get people experiencing the potential benefits. Get in on recycling the units to bring up their value...

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    Quote Originally Posted by KC View Post
    Seems like a broken business model with an ever more dissatisfied clientele. Why not offer some sort of conciliation prize (sell an alternative service) for those that can endure the presentation.
    Probably because, for example, on this very thread you've got Replacement saying he's happy to go to the sales pitch as long as he gets a free meal out of it. As long as there are people willing to accept that offer, there is liikely no incentive for the sales reps to make it any more lucrative.

    (And nothing at all against Replacement's decisions. A free meal is always good, and it would probably be beyond the capacity of the public at large to organize any sort of "boycott" of the seminars in order to sweeten the pot.)

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    Quote Originally Posted by overoceans View Post
    Quote Originally Posted by KC View Post
    Seems like a broken business model with an ever more dissatisfied clientele. Why not offer some sort of conciliation prize (sell an alternative service) for those that can endure the presentation.
    Probably because, for example, on this very thread you've got Replacement saying he's happy to go to the sales pitch as long as he gets a free meal out of it. As long as there are people willing to accept that offer, there is liikely no incentive for the sales reps to make it any more lucrative.

    (And nothing at all against Replacement's decisions. A free meal is always good, and it would probably be beyond the capacity of the public at large to organize any sort of "boycott" of the seminars in order to sweeten the pot.)
    My differential take on this is I dislike the timeshare sales industry enough to openly take their sales pitch head on and spit it out. Making it fully open the whole way thats exactly what I'm doing. I'll repeat "I'm not buying anything like a mantra every 5-10mins to any sales person that makes contact. Same thing as the guy getting the free ski passes. Heres the deal. If people ONLY used the timeshares for freebies(gifts, meals, passes, free rooms, etc) and refused to purchase (like I do) then the sad industry would be dead. As long as people are willing to BUY there is no incentive to change.

    ps I will mention the freebie thing was something I did more as a lark while I was young. I had a good job, income, assets even while young so I met their stated conditions of being ABLE to purchase. Just that I had no interest in doing so.
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    Well, whether people are just going as a lark, or because they really like free meals, or because they think there might be something worthwhile to learn about timesharing, the fact remains that whatever the companies are doing now seems like enough to get people in the door, listening to the pitches, and buying timeshares.

    If people ONLY used the timeshares for freebies(gifts, meals, passes, free rooms, etc) and refused to purchase (like I do) then the sad industry would be dead. As long as people are willing to BUY there is no incentive to change.
    Well, the fact that people continue buying them might show that there is no REASON for the industry to change. People seem satisified with what is being sold and with how it is being sold.

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    ^ I do take the point that you, yourself, are not part of the problem, since you go into the meetings fully determined NOT to buy a timeshare. I suspect that the companies regard people like you as just a cost of doing business.

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    Quote Originally Posted by overoceans View Post
    ^ I do take the point that you, yourself, are not part of the problem, since you go into the meetings fully determined NOT to buy a timeshare. I suspect that the companies regard people like you as just a cost of doing business.
    Absolutely. I know they do. I do also consider that the presence of ourselves may even encourage others to sit down but I balance that out by modeling for others when to leave after the dinner as I mentioned. Lets just say when we state for the last time. "We're not buying, we're not buying anything, we're not buying anything allday. we tend to do that not quietly. Everytime we've left one of these people have thanked us and left with us and appreciated our avarice in stepping out. People seem otherwise shy to do that.

    I'm passionately against hard pressure sales techniques. So much so when neighbors have trouble with the direct energy guys on their lawn or some such adversary they call me up as a what to do with the won't hear no sales person troubleshooter. I have a bit of a rep in these parts. We don't get a lot of door to door anymore.
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    So, I guess if you were Lingk, you would have just taken the free drinks and scooted off!

    Part 1

    Part 2

    (language possibly NSFW)

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    Quote Originally Posted by Replacement
    I would stay away from Luxus as I would any timeshare.


    Again, Luxus is NOT a traditional timeshare. It's structured differently. I saw one of their presentations a few years ago that explained the differences, but the details have long since been forgotten. Luxus was a member of the same business association as I, and there are numerous people still in the association who are Luxus members and love it (Luxus left the association a few years ago). That being said, I think Luxus also operates at a much higher price point than most timeshares, as well. I don't think I ever saw any specific numbers, but my impression was that it was quite expensive. It's not something that's marketed to people who take a 1 week all inclusive to Cancun once a year.

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