Probably stupid questions... [New WSJ owner - questions]

tammymacb said:

Thanks! It's good to know I have that option if I decide to go that route. I didn't even know I could deposit SO. Not that I will very often.

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It's not really "depositing" - that's an Interval International term.

With Staroptions, you can use them to make a reservation at 8 mos. before check-in, or, you can roll the Staroptions over to the next year, but there are deadlines to do that. For single week owners, it's the end of June.

Each year, you must use your Staroptions (or home resort) by the end of the year, or you lose them, unless you roll them over to the next year.

Thanks so much! There is so much to learn! I keep searching and reading thread. I do appreciate the info.

Now, if you ever need help with DVC...I'm happy to help you out.

tammymacb said:

Thanks! It's good to know I have that option if I decide to go that route. I didn't even know I could deposit SO. Not that I will very often.

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With your 2Bd WSJ-VGV week (SVN Mandatory)- you get 95.7K SOs that can be used to exchange via SVN (and pay a SVN fee of ~$140 whether you use or not) if you choose not to use your ownership week. For WSJ-VGV, you need to make sure that your week is reserved by 10 months out. They actually reserve mine up to 16 months in advance, and I just need to confirm by 10 months out.
This is because it is a fixed week.

At the 10-12 month point you can attempt to change your week within your season within WSJ-VGV (to change week or check-in day, but overall rare unless you go to low-low season). At 8 months you can use SVN if you do not want to use your week. If you use SVN - try and do this as close as possible to the 8 month mark (many do this the minute the 8-month mark starts).

but... before worrying about any of this - you need to get your week into the SVO/SVN system.

You're absolutely right.

I'm just thinking of questions and asking them when the pop up in my head.

DavidnRobin said:

I tried this exchange - our 2Bd WSJ villa for only a 1Bd OF at WKORV/N - and did not get a single hit.
One issue is that the WSJ week is fixed (as you know) and therefore hard to find someone to fit that exact week.
Good luck.

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Wow! That surprises me, David. That's a great trade. Did you try that swap recently? I'd have guessed a Maui Westin (or Marriott) owner would have jumped at that opportunity! The problem is reaching enough owners to find someone to make the swap. I wish there was a robust direct owner-to-owner exchange market. (I think Marriott has a pretty good one.) Sadly, the TUG Marketplace is very limited, but I'm hoping it will grow. It is great to keep owner priority and views, and avoid exchange fees!

PamMo said:

I wish there was a robust direct owner-to-owner exchange market. (I think Marriott has a pretty good one.) Sadly, the TUG Marketplace is very limited, but I'm hoping it will grow. It is great to keep owner priority and views, and avoid exchange fees!

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In the past, a Tugger created a website for Starwood to Starwood trades - which seemed like a great idea at the time.

Unfortunately, it was a complete flop - there were lots of listings, but not a single trade was ever made.

Every single "want" Ad, was requesting a trade-up. The vast majority were requests for trades to Harborside or Ka'anapali from less expensive resorts.

WSJ is a beautiful resort, but it simply doesn't generate the demand that Ka'anapali and Harborside do. I think WSJ attracts a specific type of traveler, while Hawaii and Harborside have wider appeal. Because of this, it's not a strong renter, either.

My biggest problem with my offering was the ability to get the word out as I couldn't post in this forum even though at the time (pre-BV) many were clamoring to get into WSJ (back in the days were WSJ got the rep as an impossible exchange), and there were limited eyes on the SVO-SVO trade site (or unreasonable exchanges being offered). Turns out plans changed anyway. It was relatively easy to rent for my MFs - which I was happy to do as I do not own in WSJ to profit.

Denise is a little harsher on WSJ rentals than I am. Like HRA - it depends on the villa type and time of year. There are StJ-centric rental places that rent villas - all over StJ all the time, and appear to do quite well (at least as StJ goes... you know... come with $2MM and rose-colored glasses, and leave with 1 million and a tan...). StJ is certainly a unique place and not for everyone which lowers the demand - but there is limited on StJ inventory as well (and most not cheap). It just takes more effort and research - and a bit of creative thinking. I do not own WSJ to rent (like I do with Plat+ WKV and the studio side WKORV OFD) - so if I can't go - I can rent for MFs, or now use the SOs (95.7K SOs aint great for the MFs, but better than 67.1K SOs that we got just a few years ago - and more flexibility)

IMO...

DavidnRobin said:

Denise is a little harsher on WSJ rentals than I am.

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True - and my definition of a "strong rental" is one that can easily be rented for a profit. For instance, a 2 bdm. at WKORV-N/S during any popular season, can easily be rented for $1,000+ profit.

DeniseM said:

True - and my definition of a "strong rental" is one that can easily be rented for a profit. For instance, a 2 bdm. at WKORV-N/S during any popular season, can easily be rented for $1,000+ profit.

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Same with WKV Plat+ (w/ lower upfront cost), but I do not think OP is looking to profit since it is intended to have better flexibility in usage (like me) vs. profit motive. E.g. I would never recommend WSJ purely for rental income except Plat+ which can be a profitable renter (but high upfront cost). OP got this Gold+ WSJ-VGV for a very good price, and was looking for options. Renting for MFs is a viable option.

DeniseM said:

In the past, a Tugger created a website for Starwood to Starwood trades - which seemed like a great idea at the time.

Unfortunately, it was a complete flop - there were lots of listings, but not a single trade was ever made.

Every single "want" Ad, was requesting a trade-up. The vast majority were requests for trades to Harborside or Ka'anapali from less expensive resorts.

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Yeah, the Marketplace section of TUG can get some weird offers - NOTHING close to what you request for an exchange. On the other hand, I've been sent private messages from long-time Tuggers that know what I own, and have worked out trades with them. I sent a PM to one Tugger after he posted that he couldn't get into a resort that I own (one that I was considering depositing into II). We worked out a wonderful trade.

So, I'm curious about renting WSJ... We're considering buying a Platinum+ week to use for family, but may not use it every year. Denise doesn't think it's a good rental - David sees some potential. There are outrageous rental prices on RedWeek, but who knows if they get rented, or for how much? I wouldn't want to get burned on a year we can't use it - would probably convert to SO's anyway. With Coral Vista opening up, I'm afraid there may be a glut of rentals at WSJ in the coming years.

I was glad to look at TUG today and see more discussion on this thread.

We definitely bought WSJ for our own use and I think we'll use it most years. Next summer (2015) we're already committed (with bought airfare) to Europe. I believe my daughter, her husband and a couple of their friends are paying the 2015 MFs and using the week themselves. 2016, I will absolutely be going back. I have zero intention of making any money on this purchase. We're long term Caribbean vacationers who just loved every moment of our trip and found a good resale. When we don't go, I'll be happy just to clear the MFs.

I'm in the same boat. I bought to buy or be there. My plan was that if we couldn't go one year of trade at 8 mod out or try to rent. And then I got lucky that they increased the SO with BV so I have even more options. But I bought WSJ to have solid on and a year out. My worries about renting were many including trying to negotiate with those high rates a year out and sacrificing airfare deals. Would I be able to get a fri to fri (which I find is usually cheaper) when most rentals I found were Sat to Sat? Just one issue of many.

Just think... Many do not ever find the SVO thread on TUG - and miss finding info for just about everything you ever wanted to know (or ask) about WSJ. Even with all this info - there are many confounding and ever-changing aspects of owning, selling, buying, exchanging, renting, and visiting WSJ and StJ with unique issues, and often misunderstood. And one size certainly does not fit all.

No matter what - the word 'adapt' often needs to be heeded, and at times expectations need to be lowered.

One thing is for sure - WSJ/StJ is not for everybody, but those who love it - often do so with passion that is unique. Others... do not get it or understand.

Like many here, and many I have met at WSJ - they bought there to use it - and paid a premium both in cost and annual fees. Having the flexibility of SVN (effectively at a loss) or break-even renting, while important to maximize - is not the end all/be all. Being able to be 'there' is first and foremost.

My personal SVO usage involves renting (for now) WKV to help cover my high MFs at other resorts, and renting the studio-side of our OFD WKORV so we can use 1Bd side for an excellent weekly rate. If I can't stay at WSJ (only once in 9 years), then I am okay with renting for MFs. Even if I am forced to sell someday for a loss - that is okay. I already consider it lost money.

However, while I love StJ - WSJ is not my favorite TS (surprise!) - that would have to go to our OFD WKORV. (2 weeks away! Yeah!)

I just looked up your favorite resort! It looks very nice. I've never been to Arizona before.

I know I have a ton to learn. Unless I find a second (perfect) resale for week 28, I'll plan on renting that week in 2016. Now to research where the best place to find rentals is.

tammymacb said:

Now to research where the best place to find rentals is.

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These two rentals sites are both very reliable, because you have to be a paid and registered member to post Ads there:

Redweek - www.redweek.com

TUG Marketplace - http://tug2.com/timesharemarketplace/

How to verify that a rental is Legit: http://www.tugbbs.com/forums/showthread.php?t=109479

Also...

http://www.westinstjohnrentals.com

Plus - there is an Owners page - that is poorly set-up (IMO - too bad, since the WSJ thread was originally started to create better communication) - located somewhere on SVO Ownership page - need to register. Instructions were posted a while back - see last part of old WSJ thread (see 1st post)

Thank you.

I know that Om does rentals ( that's also who I bought with ) but I thought their rentals were high. If they have something perfect, then I'll do it, but if not, I wouldn't mind getting a better price.

I got my paperwork from the closing including the warranty deed. Is this what's sent to Starwood so I can sign into that account?

tammymacb said:

I got my paperwork from the closing including the warranty deed. Is this what's sent to Starwood so I can sign into that account?

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The REGISTERED deed is sent to Starwood. (After it has been registered with the local authorities in the USVI.)

And if you have a closing company, they will send the deed to starwood at the same time they send you the registered deed. You would not have to do it. It can still take some time before starwood processes it and sets up your account.

I bought through Om Villas and closed with an attorney on St Thomas.

A recorded deed has a stamp on the first page showing that it has been recorded by the local authority. Sometimes you can expedite the transfer by Faxing the recorded deed directly to Starwood yourself.

More Info.:

Title Dept.
You can email or FAX your new (recorded) deed to Starwood yourself-
Phone 1-800-729-8246 ext. 62291
Fax 1-407-418-7211
Email to send deeds to - 00SVO-TitleChanges@starwoodvo.com

Thanks for the info, Denise. You're very helpful. I appreciate it!

The attorney who handled my closing forwarded me an email yesterday from Rachel Guzman "HOA Title Coordinator".

I'm guessing I'm finally getting close to being able to check on July's reservation.

BTW, the email said they'd updated the records to reflect the new owners, with an account #.

Deed Soon Come...
{as they say in StJ}