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Timeshare Foreclosures in Hawaii

bobemac

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They say the market is stable.

http://pacific.bizjournals.com/pacific/stories/2009/08/24/story5.html?b=1251086400^1964221&ana=e_vert
 
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bobemac

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You should call Janis L. Magin at Pacific Business Journal, and ask
her why she is publishing incorrect data.

Foreclosures on time-share units remain stable in Hawaii
Pacific Business News (Honolulu) - by Janis L. Magin Pacific Business News


Some of the largest time-share operators in Hawaii have taken back hundreds of one-week interests in resort properties through foreclosure, an apparent effect of the recession.

But the numbers can be deceiving in a business where the ownership of each room or unit is split 52 ways and a resort property with 300 units can have more than 15,000 owners.

Hilton Grand Vacations, Marriott Vacation Club, Starwood Vacation Ownership and Wyndham Vacation Ownership have all opened large time-share properties over the past few years, adding thousands of new time-share units — and tens of thousands of one-week time intervals — on Oahu, Maui, the Big Island and Kauai.

The time-share companies typically offer their own financing for the one-week time intervals, which can cost from $20,000 or $30,000 to more than $100,000.
 
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