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Old August 16, 2011, 08:56 PM   #1
ry"c
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BBS Reg. Date: Jun 11, 05
Location: Oxnard, California
Posts: 77

Resorts: Summer Bay Las Vegas
What's Up with Resales at Summer Bay Las Vegas Desert Club?

What is up with resale prices at Summer Bay Las Vegas Desert Club? I noticed that on eBay several have been offered at "no closing costs," a potential savings of about $650 and the sales prices have been as low as $1.00 (one dollar) with most others below $200. Some have points and some don't; there is no premium for having points associated with the intervals
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Old August 16, 2011, 08:59 PM   #2
DeniseM
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BBS Reg. Date: Jun 6, 05
Location: Northern, NV
Posts: 38,297

Resorts: Starwood-WKORV, SDO, & SVR, Roark Vacation Club, Kingsbury Crossing, Edinburg Residence, 7 x Kauai Beach Villas
Las Vegas has more than 30 timeshares, and in this economy, the bottom has fallen out of the resale market. If you check ebay, you will find many, many timeshares for $1.
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Old August 17, 2011, 05:53 PM   #3
ry"c
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BBS Reg. Date: Jun 11, 05
Location: Oxnard, California
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Resorts: Summer Bay Las Vegas
Perhaps Other Factors?

Seems curious to offer free closing costs, as if the seller has some sort of escrow and title processing skills.
Caesars Entertainment owns a large bloc of our intervals, about 300. It is at Clark County today, 8-17-2011, trying to get project Linq approved by the County which includes "O'Linq's" casino (tearing down O'Sheas and combining it with some vestige of the remaining Imperial Palace structure) and pedestrian mall/Ferris wheel project. Perhaps Caesars is selling off some of its weeks to reduce its debtload (300 intervals times $530 per year in m/f equals $160k per year of ongoing debt).

With the Orange Lake deal pending where our name may be changed to Holiday Inn Resorts, perhaps some former departing staff members of Summer Bay who personally owned some weeks are selling.

Check the seller names if any of you buy. If the seller is "Durante Holdings Corp.," "DCH Financing, LLC," "DCH Exchange, LLC," or any of the people who sign on behalf of the seller is "Steve Bugman," "Pam Irey," "Jessica Gonzales," or "Richard Marr" then Caesars is the seller.

There are good renderings and news about Project Linq at this url: http://www.vegastripping.com/news/news.php?news_id=4221

Last edited by ry"c; August 17, 2011 at 06:02 PM.
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Old August 17, 2011, 08:07 PM   #4
DeniseM
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Resorts: Starwood-WKORV, SDO, & SVR, Roark Vacation Club, Kingsbury Crossing, Edinburg Residence, 7 x Kauai Beach Villas
They can offer free closing, because their affiliated closing company does the closing in-house.

This is probably being offered by a "take your timeshare off you hands for an upfront fee" company.

In other words, someone already paid this company $3,000 to dump their timeshare, so they already made a profit, and now they are dumping it on ebay before the MF comes due.

There are hundreds of auctions like this on ebay.
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