First Wyndham Resale Purchase

A couple of days ago I found a listing for Pagosa Springs that caught my eye. It is about 8 hours from us, which in Texas that's doesn't mean much....Lol.
I researched this resort on the forums, Googling reviews, and reviews on Wyndham's site. I downloaded their listing book and figured out the older units and newer ones, the activities nearby, etc.
My problem has been with having kids in school and only limited time but wanting access to deals through either RCI or II. I think I may have accidentally accomplished this somewhat.
I purchased a fixed week 30 3 bedroom, 2 bath unit in the Teal division for $19 and seller pays all closing costs, resort transfer fees and 2014 MF and $800 starting in 2015. If we can swing it, we could even use it this year with a guest certificate.
This sounds like a great purchase for an outdoor loving family. We can use it to unwind before school activities start up, explore Durango nearby, fish, hike, etc or deposit in the exchange.
Now the true test....... did I really do decent?

advocoach said:

A couple of days ago I found a listing for Pagosa Springs that caught my eye. It is about 8 hours from us, which in Texas that's doesn't mean much....Lol.
I researched this resort on the forums, Googling reviews, and reviews on Wyndham's site. I downloaded their listing book and figured out the older units and newer ones, the activities nearby, etc.
My problem has been with having kids in school and only limited time but wanting access to deals through either RCI or II. I think I may have accidentally accomplished this somewhat.
I purchased a fixed week 30 3 bedroom, 2 bath unit in the Teal division for $19 and seller pays all closing costs, resort transfer fees and 2014 MF and $800 starting in 2015. If we can swing it, we could even use it this year with a guest certificate.
This sounds like a great purchase for an outdoor loving family. We can use it to unwind before school activities start up, explore Durango nearby, fish, hike, etc or deposit in the exchange.
Now the true test....... did I really do decent?

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I was there last summer and I really liked it. I wasn't in Teal Landing, which is one of the newer divisions and I think the nicest. I didn't realize teal had fixed weeks. I know that most of the rest of Pagosa was originally sold as fixed week and most of the points units are foreclosures that Wyndham put into CWA. A 3 BR in Teal Landing week 30 would cost 203k points for a week. With my CWA points the $ cost would be over $1100.00. If your MF is only $800.00 then I'd say you've done pretty well especially if you can stay there. My only question would be, how many TPUs will you get from RCI.


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markb53 said:

I didn't realize teal had fixed weeks.

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I also thought that Pagosa Teal Landing was points only and was surprised to see a fixed week there, but Teal Landing is the only property there with 3 bedroom units. Another oddity in the ad is that the fixed unit is listed as #0056. The lowest numbered unit at Wyndham Pagosa is #1111, and it is in Teal Landing.

An estoppel is highly recommended to answer these questions before proceeding with the sale.

advocoach said:

I purchased a fixed week 30 3 bedroom, 2 bath unit in the Teal division for $19 and seller pays all closing costs, resort transfer fees and 2014 MF and $800 starting in 2015. If we can swing it, we could even use it this year with a guest certificate.
This sounds like a great purchase for an outdoor loving family. We can use it to unwind before school activities start up, explore Durango nearby, fish, hike, etc or deposit in the exchange.
Now the true test....... did I really do decent?

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The 3 bedroom units at Teal Landing are some of the nicest units at Wyndham Pagosa. If it all checks out, and you find yourself there, be sure to visit Mesa Verde. It is a full day trip. Pack a picnic lunch and leave early to arrive at the visitor center before 10 a.m. to sign up for one of the guided hikes into one of the dwellings.

I called the resort and it's a 2 bedroom 2 bath with a loft in Eagles Loft. The lady I spoke with said it is a fixed week and the have been remodeled.
This would still fit our family I think, but has anyone seen the upgrades they have made?

advocoach said:

I called the resort and it's a 2 bedroom 2 bath with a loft in Eagles Loft. The lady I spoke with said it is a fixed week and the have been remodeled.
This would still fit our family I think, but has anyone seen the upgrades they have made?

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EBay timeshare ads are notorious for inaccuracies. It is good that you checked into it further. The ad just did not seem right.

The kitchen countertops in Eagle's Loft were replaced with solid surface style countertops. The mattresses were recently replaced. The outside decks are being redone on some of the units. Each unit has two decks; one is off the kitchen and the other is off the master bedroom.

Eagle's Loft has a retro steel spiral staircase to the loft and to the lower level. Kids think it is great; some other people do not like them. The loft has two full size beds and is quite roomy. It is open to the living room below, so watching TV late into the night might disturb anyone trying to sleep in the loft.

We have stayed in Eagle's Loft a few times and always enjoyed it.

Here is something to consider. It is difficult to sell an Eagle's Loft fixed week, because there is a large supply. You may have to offer a future buyer a prepaid week to sell the unit, just as your seller is offering you. It is very easy to find Eagle's Loft units to rent, probably for less than $800/week, and without the yearly commitment and having to sell it some day.

Here is an Eagle's Loft on EBay for next week with a starting bid of $99 for the whole week (although this is unusually low and not typical):

http://www.ebay.com/itm/Wyndham-Pag...11405317842?pt=US_Lodging&hash=item19f0463ed2

deposit week

I will still be able to deposit this week into RCI for another resort wouldn't I? I did try a quick search last night on rental prices......of course that was when we thought it was in the teal unit.

I did go on trip advisor and viewed customer pics of the units which was way more helpful. The only downside I see would my parents couldn't use it because of the stairs. My teenage girls would love the loft and my teenage son will just be Happy to have his own bed and not sleep on a hideaway or air mattress...... Lol.

It's the mountains so we wasn't expecting 5 star anyway. We would want a place that reflects the surroundings and th's lofts actually kinda do with their design.

I'm just waiting on a quote for title insurance before I go any further. I evidently got two listings mixed you and thought this one stated clear title. It did not. :/

advocoach said:

I'm just waiting on a quote for title insurance before I go any further. I evidently got two listings mixed you and thought this one stated clear title. It did not.

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The seller is paying all closing costs and transfer fees. Your total cost is only the $19. Why would you pay a few hundred dollars for title insurance to insure $19?

I wanted to make sure there was no lien on the property.
The closing company sent me copy of estoppel and the filed deed. It does show it as a 3 bedroom 2 bath. The seller bought the week from the resort back in 1993 so I feel better about the purchase that it wasn't someone who just bought and trying to unload.
Papers are signed and money sent.
Now I just have to figure a way that maybe me & the kids can go check it out in about 10 days. We just returned from an 8 day vacation and even though husband owns his business, not sure he can take off again this soon.

advocoach said:

I wanted to make sure there was no lien on the property.
The closing company sent me copy of estoppel and the filed deed. It does show it as a 3 bedroom 2 bath. The seller bought the week from the resort back in 1993 so I feel better about the purchase that it wasn't someone who just bought and trying to unload.
Papers are signed and money sent.
Now I just have to figure a way that maybe me & the kids can go check it out in about 10 days. We just returned from an 8 day vacation and even though husband owns his business, not sure he can take off again this soon.

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fwiw - Wyndham Title Services reviews all deed transfers. I doubt they would transfer a deed with a lien or an active mortgage. The estoppel would show if there are any unpaid maintenance fees, and you would not be responsible for MF prior to the transfer, anyway.

The estoppel should tell you everything you need to know, or you can pay for title insurance if it gives you peace of mind.

Not all the Eagles Loft units are lakeside. They all have very nice views, but most people prefer the lakeside units. You may want to confirm the location, if it is important to you.

Eagles Loft units are nice units in a great location. You are sure to have some great times there.

CO skier said:

The seller is paying all closing costs and transfer fees. Your total cost is only the $19. Why would you pay a few hundred dollars for title insurance to insure $19?

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OP:
+1 for skipping title insurance. It will delay your closing, perhaps significantly, and all you will be covered for is the nominal purchase price. If it was a $15k Marriott or HGVC Purchase, or if it were financed, TI might be worthwhile; yours not so much.


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Many Thanks

Thanks everyone. The closing company has been great and emailed me all requested documents so I could verify. Everything checks out and even with the unit being Eagles Loft instead of Teal, we are still pleased with purchase.
It seems like a good resort to unplug & relax or go exploring the area.

advocoach said:

Now I just have to figure a way that maybe me & the kids can go check it out in about 10 days.

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I, and maybe others too, would be interested to learn how it turns out for you, and how you enjoyed your vacation at Pagosa Springs.

advocoach said:

I called the resort and it's a 2 bedroom 2 bath with a loft in Eagles Loft. The lady I spoke with said it is a fixed week and the have been remodeled.
This would still fit our family I think, but has anyone seen the upgrades they have made?

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Now it all makes sense. Even though it is not Teal Landing, it is still a great deal. I have seen the pictures of the refurbishment and it looks great. When I was there last summer, I had wanted to get into the Eagles Loft but one wasn't available for the checkin day I needed. I stayed in Elk Run which was also nice. I will hopefully get to stay in a Eagles Loft unit next time. If I lived within one days driving distance of Pagosa Springs I might be in the market for a summer fixed week at Eagles Loft.

Enjoy, and let us know how you you do once you start using it.

So we arrived last night at our timeshare and so far looks like a great deal. Inside is newly painted with new small appliances and bedding. I found the owners website and it said decks & stairs are next. Other than some new paint on trim and new deck doors from dining room & bedroom, it looks in pretty good shape. It's on the lake with the decks facing it and the deck by the front door facing the other units & mountains.
The resort shows to be packed so a great week as well.
Overall, so far I'm very pleased with our resale purchase for our family.

advocoach said:

So we arrived last night at our timeshare and so far looks like a great deal. Inside is newly painted with new small appliances and bedding. I found the owners website and it said decks & stairs are next. Other than some new paint on trim and new deck doors from dining room & bedroom, it looks in pretty good shape. It's on the lake with the decks facing it and the deck by the front door facing the other units & mountains.
The resort shows to be packed so a great week as well.
Overall, so far I'm very pleased with our resale purchase for our family.

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Congrats! Glad to hear it went well for you!

advocoach said:

Overall, so far I'm very pleased with our resale purchase for our family.

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Glad to hear you could use your timeshare so soon after purchasing.

Here is a link to our all-time favorite excursion in the area. It is expensive, but we thought is was an excellent value and well worth the money spent.

http://soaringcolorado.com/

Have a great time this week.

You did a great job of finding TUG, taking your time to buy, figuring out WHAT your family might enjoy and buying your first TS - one which you will use for multiple summers. And going on your first TS ownership vacation - just slightly under the 1 year mark.

Now, take another 6+ months (or longer) and start your search for either a points ownership or a TRADER --- I suggest the trader where the resort is in BOTH RCI and II. And perhaps a lockoff unit.