Current developer pricing WLR, WDW, WMH

If anyone needs a laugh:

WLR (all "resort side"):
- 2BR Platinum+ $33,900 (90K SPG incentive)
- 2BR Gold+ $21,900 (110K SPG incentive)
- 1BR Premium Platinum+ $23,900 (40K SPG incentive)
- 1BR Premium Gold+ $15,900 (60K SPG incentive)
- Studio Platinum+ $19,900 (NO SPG incentive)
- Studio Gold+ $12,900 (70K SPG incentive)

WDW:
- 2BR LO Platinum+ $34,900 (110K SPG incentive)
- 2BR LO Gold+ $21,900 (110K SPG incentive)
- 2BR LO Gold $12,900 (70K SPG incentive)

WMH:
- 2BR LO Platinum $31,900 (110K SPG incentive) -- they had 5 units available
- 2BR LO Gold $19,900 (110K SPG incentive)
- 2BR LO Silver $10,900 (70K SPG incentive) -- these include the foreclosed units bought up by SVO earlier this year

EOY ownership is 55% of the annual price rounded up to the nearest $900, or if the last 3 digits are between 901 and 999 the price is rounded down to the nearest $900

Thanks for the info! Now, does this mean you are shopping?!?!

Katherine

SDKath said:

Thanks for the info! Now, does this mean you are shopping?!?!

Katherine

Click to expand...

Seriously considering picking up a 148,100 SO's unit resale and then a WMH (if they have any left) or WDW from the developer -- that's enough to push me over the 5 Star Elite boundary.

Got a note in to my (I mean our ) rep with a few questions about a twist they have attached to the Explorer packages they're offering now. Almost sounds like they'll end up giving you 100K SPG points for nothing (if you're buying something from the developer anyways) in addition to any other purchase incentives.

Did you end up buying another one yourself?

Actually I was just e-mailed today from WLR at my request. I have 1Bd Premium Gold EOY odd. To add even EOY 1Bd premium gold (to give me every year gold 1 bd premium)

Special pricing for current owners:
$8,900 + 550 closing
incentive 55K starpoints
67K staroptions for use in 2012

YYJMSP said:

Seriously considering picking up a 148,100 SO's unit resale and then a WMH (if they have any left) or WDW from the developer -- that's enough to push me over the 5 Star Elite boundary.

Got a note in to my (I mean our ) rep with a few questions about a twist they have attached to the Explorer packages they're offering now. Almost sounds like they'll end up giving you 100K SPG points for nothing (if you're buying something from the developer anyways) in addition to any other purchase incentives.

Did you end up buying another one yourself?

Click to expand...

If that's your plan, you should pick up your resale NOW. The title transfers are now taking 3++ months. My Oct 2nd deed for WKV (I sold) STILL has not recorded. I was on the phone with them and they told me that I may have to pay 2011 MFs even though the county recorder has the new buyer on the title for 3 months now.

No, I have not bought anything from the Developer (yet). Looking a little though. I have a true platinum SDO that I would love to retro...

Katherine

jabak5 said:

Actually I was just e-mailed today from WLR at my request. I have 1Bd Premium Gold EOY odd. To add even EOY 1Bd premium gold (to give me every year gold 1 bd premium)

Special pricing for current owners:
$8,900 + 550 closing
incentive 55K starpoints
67K staroptions for use in 2012

Click to expand...

1BR Premium Gold+ $15,900 x 55% = $8745, rounded up to the nearest $900 would be $8,900, so sounds like the same price; however, they're offering 60K SPG points instead of the 55K SPG points you were offered (in addition to the SPG purchase incentives).

The "twist" they're offering here looks like they're potentially giving you 100K SPG points in lieu of any one-time SO's.

SDKath said:

If that's your plan, you should pick up your resale NOW. The title transfers are now taking 3++ months. My Oct 2nd deed for WKV (I sold) STILL has not recorded. I was on the phone with them and they told me that I may have to pay 2011 MFs even though the county recorder has the new buyer on the title for 3 months now.

Click to expand...

I'm assuming I'll have to pay 2011 MFs on anything I buy at this time of the year anyways, so that shouldn't be a problem.

Will wait to hear back before I go ahead though, as I want to make sure that the details are as I understand them...

I do appreciate the fact that Starwood is trying to sweeten the deals for existing owners by offering extra SO/SP incentives. However, IMO, they'd be far better served by steeply discounting the purchase price. After all, existing owners are the ones who've had to pony up for the delinquencies these past couple of years. It's not a completely altruistic move, though, because Starwood would save a fortune on marketing -- no Explorer packages, no tours, no glossy brochures would be required. They'd just have to send a blanket email out to existing owners and see who bites.

I also want to say that I, for one, appreciate the fact that WMH, most notably, has seemed extra committed to getting VOIs into the hands of paying owners by foreclosing on deadbeats. There are few things that frustrate me more than getting a bill for a few hundred dollars each year to cover deadbeats, and getting NOTHING in return. So good for them. Now I'd like to see them offer up discounts -- perhaps 10% off for each year they've owned at the resort -- as a thank you. It'd go a long way into appeasing sticker-shocked owners AND it would get the VOIs into the hands of paying owners. A double win for Starwood.

LisaRex, ... "Now I'd like to see them offer up discounts -- perhaps 10% off for each year they've owned at the resort -- as a thank you."

First, the percentages of expenses are set by the declarations and State law. Owners not getting the discounts could sue.

Second, who do you think would make up the shortfall for the discounts? Of course, it would be the other paying owners. The bills must be paid by someone. ... eom

jarta said:

LisaRex, ... "Now I'd like to see them offer up discounts -- perhaps 10% off for each year they've owned at the resort -- as a thank you."

First, the percentages of expenses are set by the declarations and State law. Owners not getting the discounts could sue.

Second, who do you think would make up the shortfall for the discounts? Of course, it would be the other paying owners. The bills must be paid by someone. ... eom

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I was referring to discounts off the purchase price on foreclosed/available units, not the MFs.

Lisa, ... Discounts off the purchase price of foreclosed property? That might be legal. It might even be within the HOA board's discretion. But, would the board be true to its fiduciary duty to all owners?

And, would the discount be necessary to sell the property? Wouldn't it be better for the HOA to get top (or at least market) value for the properties it ends up foreclosing?

I am now an owner at WMH (your neighbor lol!) and I am all for foreclosing deadbeats. But, those who do pay their WMH MFs are only doing what they legally need to do - or else they, too, will/should have their ownership foreclosed. ... eom

LisaRex said:

I do appreciate the fact.... to getting VOIs into the hands....

Click to expand...

Brainfart here.. VOI = ????

mitchandjeanette said:

Brainfart here.. VOI = ????

Click to expand...

Vacation Ownership Interest

Another way of saying a timeshare week.

Glorian

jarta said:

Lisa, ... Discounts off the purchase price of foreclosed property? That might be legal. It might even be within the HOA board's discretion. But, would the board be true to its fiduciary duty to all owners?

Click to expand...

You make me laugh. It MIGHT be legal? The HOA can set any price it wants, just like a Ford reseller can offer up a used car for any price it wants. Their only fiduciary obligation is to recoup the MFs that are past due, if possible, and then get the VOI into the hands of paying owners as quickly as they can. If Starwood doesn't like the price, they have ROFR. Let them exercise it, because until they sell it to someone else, they'd be responsible for ponying up the corresponding MFs instead of just passing them along to us.

The only party who would not like a fire sale or deep discounts to existing owner is... Starwood (the developer) because it would make their developer prices look even more ridiculous. But, of course, the HOA is supposed to represent the owners and do what's in our best interest. What Starwood wants isn't supposed to matter.

jarta said:

I am now an owner at WMH (your neighbor lol!) and I am all for foreclosing deadbeats.

Click to expand...

My neighbor? I live in Cincinnati and own a TS in Hawaii. You must be confusing me with someone else.

YYJMSP said:

WMH:
- 2BR LO Platinum $31,900 (110K SPG incentive) -- they had 5 units available

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Funny thing. When we went to the 'owners update' the day before, there were only 3 units available - 'you have to buy quick because they go fast'. I asked if they were from repo's, but was told that they were from trade-ins from people upgrading to WDW LO platinums.

"Their only fiduciary obligation is to recoup the MFs that are past due, if possible, and then get the VOI into the hands of paying owners as quickly as they can."

The fiduciary obligation of any HOA board member includes recouping MFs but goes way beyond what you have stated. In other words, sale prices matter under the Best Business Judgment test; but, the collective good of all the owners is what matters most. The price you yourself (or anyone) might pay for a resale and management (Starwood) interests are incidental if you are a HOA board member.

http://www.hoaleader.com/public/206.cfm

http://www.cohoalaw.com/governance-fiduciary-duties-of-board-members-an-overview.html ... eom

Pedro said:

Funny thing. When we went to the 'owners update' the day before, there were only 3 units available - 'you have to buy quick because they go fast'. I asked if they were from repo's, but was told that they were from trade-ins from people upgrading to WDW LO platinums.

Click to expand...

According to our corporate rep (who I trust a lot more than any of the locals), she says there are 9 units available, and figures that they will be gone within a few weeks -- definitely not "minutes" as the locals try to portray...

SDKath said:

If that's your plan, you should pick up your resale NOW. The title transfers are now taking 3++ months.

Click to expand...

I'm actively looking right now for the resale unit.

The rep said she might be able to get exception approval for the requalification if I buy one of the WMH's shortly while we wait for the paperwork to go through on the resale if I plan to purchase both in the next few weeks, so that we don't have to actually have the resale registered with SVO in our names before we purchase the developer unit and requalify the resale...

I'm sure you know this, but GET IT IN WRITING!

grgs said:

Vacation Ownership Interest

Another way of saying a timeshare week.

Glorian

Click to expand...

Thanks
wasn't doing me any good

YYJMSP, ... "The rep said she might be able to get exception approval for the requalification if I buy one of the WMH's shortly while we wait for the paperwork to go through on the resale if I plan to purchase both in the next few weeks, so that we don't have to actually have the resale registered with SVO in our names before we purchase the developer unit and requalify the resale..."

I was told something like what you were told about 2 months ago at WKV. I was negotiating for a EOY Platinum (ski week) 2-br at Riverfront in Avon, CO. I said I had nothing I could retro just then and asked for 90 days to find and get title to something. At first, I was told: "No problemo. We will hold open the Riverfront deal while you close the resale purchase."

When the papers were drawn up, I saw the document said I had to completely commit then to the Riverfront purchase and have everything closed on the new purchase within 45 days. That's pretty much an impossibility these days (finding, purchasing, closing and getting the recorded deed back).

When I protested, I was told that Orlando said inventory could not be reserved for Riverfront and held off the market during ski season for any period of time.

I believe this is true (not a lie) because I have purchased and just got the recorded deed back for a Platinum WMH 2-br. Each week Starwood at WKV called me to see if I was ready to go with the new purchase and retro. Starwood WKV seems quite interested in selling me something but couldn't get Orlando to release inventory.

As Lisa said, get it in writing. And keep my example in mind. Good luck to you.

BTW, my non-ebay purchase price at WMH was $3K. The EOY Platinum (ski season, even years) 2-br at Riverfront was slightly more than $20K. 85K Starpoints came with the purchase and there was also the right to purchase 80K Starpoints four times at a greatly reduced purchase price over 4 years that I valued at about a $5K savings off the $20K+ price.

You have not posted about that 320K Starpoint reduced purchase price bonus. If you are interested, it's probably still available. If you really decide to pull the trigger, try to get it thrown in. I have found creative ways to turn Starpoints into air miles. The reduced purchase price on 320K Starpoints was, IMO, the best part of the deal I was offered. ... eom

jarta said:

YYJMSP, ... "The rep said she might be able to get exception approval for the requalification if I buy one of the WMH's shortly while we wait for the paperwork to go through on the resale if I plan to purchase both in the next few weeks, so that we don't have to actually have the resale registered with SVO in our names before we purchase the developer unit and requalify the resale..."

I was told something like what you were told about 2 months ago at WKV. I was negotiating for a EOY Platinum (ski week) 2-br at Riverfront in Avon, CO. I said I had nothing I could retro just then and asked for 90 days to find and get title to something. At first, I was told: "No problemo. We will hold open the Riverfront deal while you close the resale purchase."

When the papers were drawn up, I saw the document said I had to completely commit then to the Riverfront purchase and have everything closed on the new purchase within 45 days. That's pretty much an impossibility these days (finding, purchasing, closing and getting the recorded deed back).

When I protested, I was told that Orlando said inventory could not be reserved for Riverfront and held off the market during ski season for any period of time.

I believe this is true (not a lie) because I have purchased and just got the recorded deed back for a Platinum WMH 2-br. Each week Starwood at WKV called me to see if I was ready to go with the new purchase and retro. Starwood WKV seems quite interested in selling me something but couldn't get Orlando to release inventory.

As Lisa said, get it in writing. And keep my example in mind. Good luck to you.

Click to expand...

Thanks LisaRex and jarta...

I'm dealing with Orlando directly, not the locals at WMH (I don't trust them to not say whatever to get a sale -- a lot of what they said the other day was plain wrong, heck, my 7yr old knew more than them ).

I'm not in a rush, and obviously will get the whole thing in writing. My potential "loss" if I don't get one of the remaining WMH weeks at the slighly reduced rate, and end up with a full-price WDW week (guaranteed price for 90 days) is only $3K, so not a massive amount in the big picture...

I'm confident that if I purchase the resale unit and get the deed recorded (not with SVO) within 60 days or so, I can get our rep to walk it through SVO at the same time as the paperwork for the developer unit -- this is essentially what she did with our last purchases.

jarta said:

BTW, my non-ebay purchase price at WMH was $3K. The EOY Platinum (ski season, even years) 2-br at Riverfront was slightly more than $20K. 85K Starpoints came with the purchase and there was also the right to purchase 80K Starpoints four times at a greatly reduced purchase price over 4 years that I valued at about a $5K savings off the $20K+ price.

You have not posted about that 320K Starpoint reduced purchase price bonus. If you are interested, it's probably still available. If you really decide to pull the trigger, try to get it thrown in. I have found creative ways to turn Starpoints into air miles. The reduced purchase price on 320K Starpoints was, IMO, the best part of the deal I was offered. ... eom

Click to expand...

They offered me the 80K x 4 purchase thing, but at this point, I have both SPG and airline (Star Alliance) points coming out of the *insert favourite body part here* (easily enough to cover the next 3 or 4 years in business/first and all of the stays we can take time off to enjoy), so I think I'll probably pass on anything past the 210K purchase incentive SPG points and any SO's (probably 148,100 if it's like the last one) included with the developer unit.

SDKath said:

I have a true platinum SDO that I would love to retro...

Click to expand...

So, how does one tell which SDO units are true Platinums?

If it's deeded in weeks 1-21, 50-52, is that enough to identify it, or is there something else to look for?

Pedro said:

Funny thing. When we went to the 'owners update' the day before, there were only 3 units available - 'you have to buy quick because they go fast'. I asked if they were from repo's, but was told that they were from trade-ins from people upgrading to WDW LO platinums.

Click to expand...

That's very funny since I have been begging to let them upgrade my WMH to a WDW for about 6 months now and they say no, that is now allowed. I would LOVE to have the name of your sales rep! :hysterical:

Katherine