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Old April 28, 2009, 06:56 AM   #1
athena
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[2009] Timeshare in Key West...

What would be a good time share in Key west or any of the Keys for that matter?
And does it have good trading value...
Thanks
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Old April 28, 2009, 10:41 AM   #2
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Resorts: Use to own a very nice two-bedroom/three-bath townhouse unit at Hyatt Sunset Harbor Resort Vacation Club in Key West ~~
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Hands down, Hyatt Sunset Harbor Resort Vacation Club in Key West at 200 Sunset Lane, on the Gulf, sits between Truman Annex & the Westin Resort & Marina with a boardwalk that goes to Mallory Square. It will take a good value trader, especially during Season & sometimes during non-season!
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Old April 28, 2009, 10:44 AM   #3
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My preference is The Banyan which is off Duval Street by about 50 yards. The Hyatt by Mallory Square also has a very good location.

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Old April 28, 2009, 11:12 AM   #4
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We like the Galleon. It is next to the harbor and close to everything.
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Old April 29, 2009, 04:04 PM   #5
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My $0.02 worth...

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Originally Posted by athena View Post
What would be a good time share in Key west or any of the Keys for that matter?
And does it have good trading value...
Thanks
I agree with all of the above comments and recommendations. I'll merely add that I would not recommend Coconut Mallory for a KW consideration.

In general, virtually anything anywhere in the Florida Keys will have very good "trading power". That said, I suspect that far more people are looking to trade into the Keys than ever look to exchange out of the Keys.

Last edited by theo; April 30, 2009 at 08:04 AM.
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Old April 29, 2009, 04:50 PM   #6
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The Galleon can have some nice views if you can an ocean-facing unit. Also, if you have a car, parking is both free, and almost all spaces are covered. That can help during hot Summer months. They also have a bar onsite. The 2br units are full 2br. 1br units have a balcony. The efficiencies face an inside corridor, and I haven't heard good things about them.

The Banyan has a cozier feel (I've often described it more like a b&b than a hotel/resort). For going in town, I think it has a better location - Sunset Harbor and Galleon are down on the waterfront, which means if you want to got to an Old Town restaurant, your walk starts at the end of KW. The Banyan is closer to the center of town, so if you're walking, it's not as far. The Banyan charges for parking though. They only have 5 (?) 2 brms (4 of them only 1ba), with the rest being studios and 1br's.

Sunset Harbor has nice units. I think their 2br units are 1br+eff lockouts, if that makes a difference. Parking is in the Westin parking garage, you pay for it, and I think there are a limited number of discounted spaces available to Hyatt.

Sunset Harbor is by far the hardest to get in. I've stayed in a 2br once there in May I believe on a last minute (< 3 day) availability from II.

I've stayed at the Galleon twice, both in 2brms. They are dual-affiliated, so you can find availability in both RCI & II.

I've stayed at the Banyan, geez, probably 8 times. This included a couple of rentals, the rest being exchanged from II. It's probably the easiest of the 3 to get exchanges into (I got one last year for this summer, but declined it due to change in plans).

Hyatt Beach House also shows up often in II. I've never stayed there.

During August and Sept, exchanges are certaintly easier than the rest of the year (due to it being hurricane season down there).

Jeff
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Old May 1, 2009, 09:02 AM   #7
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From the for sale ads it looks like the key west ts's go for big bucks so I assume they are great traders. With people taking less expensive vacations recently the keys should be in even higher demand. Since you asked about the rest of the keys you might take a look at the Topsider resort in Islamorada. I own 2 weeks there and although I don't trade them I would guess that they do trade well since they are all 2 bed, 2 bath units and some unit/weeks are quite reasonable by key's standards. I love key west and I usually drive down for a day or two but not sure about a week there, but thats just me. Good luck
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Old May 1, 2009, 09:26 AM   #8
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Unlike other places like Orlando or Las Vegas, I don't think one would say Key West is overbuilt in terms of timeshares. You do have to watch some of the ones on the outskirts (Hyatt Beach House & Windward Pointe), as there's a huge difference between staying in Old Town (where the 3 timeshares discussed previously are located), and pretty much at the exact opposite end of the island.

Another good thing is that Key West is pretty much a year around destination. It's still comfortable in the dead of winter (when Vegas can have snow), and while the summers can get pretty hot and humid, and Sep/Oct is hurricane season, there are usually enough exchangers (like me) happy to get a trade there that resorts and still pretty full. All of this combine to produce decent sale prices. You're not going to find a KW resort on ebay for $1 like so many other ts's are.

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Old May 1, 2009, 03:59 PM   #9
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Don't jump yet

I got a fabulous top floor, ocean view, Week 52/2008 at Hyatt's Windward Pointe (they are all 2/2's) from a timeshare publication. It was a rental, for which I paid $1,500. I am not sure of the maintenance fee, but I think it may be around $900. Because I did not spend $30K for a Diamond Week and can still get it for $1,500 I will never own timeshare.

Two couples sharing the rent, the kitchen, the breezes, the ambience, .....

The industry has reached the tipping point--there is too much inventory and too many ways to access it without owning it for it to ever make sense again.

Timeshare advocates will continue to say how hard it is to get prime inventory, but I just don't believe it. My experience was not anecdotal.

Fractionals are another story however and I am very bullish on them. Just as soon as financing becomes available again.
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Old May 1, 2009, 04:16 PM   #10
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Good rental price, but...

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Originally Posted by sullco View Post
I got a fabulous top floor, ocean view, Week 52/2008 at Hyatt's Windward Pointe (they are all 2/2's) from a timeshare publication.
Hyatt Windward Pointe's next door neighbor is the Key West International Airport and (like Coconut Mallory) is in quite an isolated location at the complete opposite end of the island from Old Town and the Duval Street activities. It's a nice facility, but not (in my opinion, anyhow) particularly representative of the optimal Key West timeshare experience; it could certainly be argued that neither facility is particularly "prime inventory".

P.S. Weeks 8 and 10 at Hyatt Windward Pointe each sold for under $13k in the resale market (one of them on eBay) in recent months, so that $30k "Diamond" figure you've cited is presumably developer pricing?

Last edited by theo; May 1, 2009 at 04:19 PM.
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Old May 2, 2009, 01:32 AM   #11
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Now a good friend of mine advised me that there are virtually no beaches in Key West? What's the real deal about beaches in Key West. Every time I mention Key West he chides me about Key West and the lack of beaches.
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Old May 2, 2009, 05:10 AM   #12
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There's actually a pretty big beach on the Eastern side of the island. There's also a teeny one next to the Galleon, and maybe beach access in Ft Zachery state park.

Even though Key West is surrounded by water, 'beaching' really isn't a big activity down there. I don't know if that's because it's more of a party town, where people are happy to lay around the pools at their hotels and B&B's until they hit the bars on Duval Street at night.

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Old May 2, 2009, 10:56 AM   #13
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Now a good friend of mine advised me that there are virtually no beaches in Key West? What's the real deal about beaches in Key West. Every time I mention Key West he chides me about Key West and the lack of beaches.
While there are beaches in KW - the vast majority of people visiting KW don't go for the beach - they go for the laid back attitude of the island, the restaurants, the bars, the sight seeing activities, etc. (AKA: Keys Disease - only known cure is to return to KW).

The 3 public beaches are:

Smathers - itís about a 5 min walk down the street from Windward Pointe, the only time you'll find it crowded is when the spring break college crowd comes to town.
Higgs - smaller than Smathers and a little closer to Old Town KW, currently being considered as the location for KW's clothing optional beach.
Ft Zach - closest to Old Town (but still a 15 min walk) and is actually part of the State Park, costs $2 or $3 dollars to get in.

Several of the hotels/TS have a beach area:

Casa Marina and The Reach Resort at the quiet end of Duval have their own beaches (they're pretty close to being a continuation of Higgs).
Galleon (this is a TS property, but can generally be rented any time of the year) and Pier House at the happening end of Duval (this end of Duval is considered the epicenter of Old Town) have a beach area - I'd really refer to them as sand boxes since if there were 10 people using it, they'd be filled to capacity.

Quote:
Originally Posted by sullco View Post
I got a fabulous top floor, ocean view, Week 52/2008 at Hyatt's Windward Pointe (they are all 2/2's) from a timeshare publication. It was a rental, for which I paid $1,500. I am not sure of the maintenance fee, but I think it may be around $900. Because I did not spend $30K for a Diamond Week and can still get it for $1,500 I will never own timeshare.

Timeshare advocates will continue to say how hard it is to get prime inventory, but I just don't believe it. My experience was not anecdotal.
WP is a nice property and has wonderful units. But in the Hyatt world, since WP is not in Old Town, week 52 is not high demand by Hyatt owners - however, in the II world it would be prime time. The reality is that since KW is so small and there are very few TS properties on the island, II would consider any Hyatt week a desirable one. So you could have the worst/cheapest Hyatt week in KW and it's still a strong trader in II.

Quote:
Originally Posted by theo View Post

I'll merely add that I would not recommend Coconut Mallory for a KW consideration.

Weeks 8 and 10 at Hyatt Windward Pointe each sold for under $13k in the resale market (one of them on eBay) in recent months, so that $30k "Diamond" figure you've cited is presumably developer pricing?

You are absolutely right about Coconut Mallory - I expect those that own there enjoy it, but it consistently receives weak reviews.

As a side note - week 10 is Gold and week 8 is Platinum at WP - only weeks 51, 52 and 7 are Diamond. Gold can be bought for just under 10K and Diamond is in the 14 to 15K range on the resale market. Developer Diamond was over 40K when times were good - however, times have changed and the retail sales center has been closed.
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Old May 2, 2009, 10:58 AM   #14
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Resorts: Use to own a very nice two-bedroom/three-bath townhouse unit at Hyatt Sunset Harbor Resort Vacation Club in Key West ~~
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Billy,

Your right in a way, theres plenty of beaches in Key West, not beaches as you would call them compared to the East & West coasts of Florida.


All the beaches in Key West are man-made with most of the sand transported from the Bahama's, are coral islands, former reefs, from when the ocean was deeper. Today, the ocean is shallower and the reefs are six miles offshore, providing a barrier to wave action, thus, with little sand to begin with, and a lack of wave action to deposit more, beaches in the Keys are a bit of a rarity.

Pier House, Hyatt Resort, Casa Marina Resort (largest private beach), The Reach Resort & a few others have very small beaches used for clothing optional or just wadding in the water with whoever.

Here are some of the beaches in Key West & most are very nice for sunbathing or whatever:

Fort Zachary Taylor State Park Beach - everyone kinda goes there cause of the Wonderful sunset views. One of the best beaches in Key West, though a bit rocky. Public restrooms, food/drink kiosk, chair rentals, picnic tables and BBQ's. Admission charged. Entrance through Truman Annex at Southard Street.

South Beach - A favorite of locals, nice sandy beach with shallow waters and a concrete pier. No restrooms or facilities, located at the end of Duval Street on the Atlantic Ocean.

Higgs Beach - Wide sandy beach with long wooden pier, restroom facilities, covered picnic tables, full service restaurant, playground, chair rentals, rafts and watersports rentals. Located at the end of Reynold's Street.

C B Harvey Rest Beach or White Street Pier - Soft sand and natural vegetation, home of the White Street Pier where you can enjoy some great fishing. Wheelchair accessible, Yoga deck with nightly classes, restrooms within walking distance, picnic tables. Located at White Street on Atlantic Ocean.

Smathers Beach - Half mile stretch of sandy man-made beach, restrooms, ample parking, concession stands, chair rentals, bike paths, picnic tables, volleyball nets, watersports rentals - jet skiiing, parasailing, and windsurfing. Locared at South Roosevelt Boulevard & this is where most of the young ones go, also, Spring Breakers.
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Last edited by The Conch Man; May 2, 2009 at 11:11 AM.
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Old May 2, 2009, 11:10 AM   #15
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Minor clarifications...

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There's actually a pretty big beach on the Eastern side of the island. There's also a teeny one next to the Galleon, and maybe beach access in Ft Zachery state park.
There is no "maybe" at all about the relatively small but nonetheless very nice beach area within Fort Zachary Taylor State Park. There are also numerous picnic tables there with trees providing some welcome shade --- all within a stone's throw of the water's edge.

... And not to split hairs, but the "big beach" you presumably refer to is Smathers Beach -- which is really more on the southern side of the island as a compass needle points. The "eastern side" is more where you actually enter Key West via U.S. 1, crossing over the "cut" from Stock Island.

Last edited by theo; May 2, 2009 at 11:22 AM. Reason: correct typo and spelling error
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Old May 2, 2009, 02:06 PM   #16
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Quote:
Originally Posted by sullco View Post
The industry has reached the tipping point--there is too much inventory and too many ways to access it without owning it for it to ever make sense again.
You know what they say ! Never say "ever". I am sure you are correct. You say it with such confidence and authority! It couldn't possibly make sense "ever" to anybody no matter what their circumstances or reason.
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Old May 2, 2009, 09:03 PM   #17
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Key West for many things but not the beach

Quote:
Originally Posted by billymach4 View Post
Now a good friend of mine advised me that there are virtually no beaches in Key West? What's the real deal about beaches in Key West. Every time I mention Key West he chides me about Key West and the lack of beaches.
I go to KW often, have clients there and it is an unusual place...but one does not go for the beaches...you can go for the water, the drinking, the people watching, the diving or snorkeling but not the beaches.
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Old May 3, 2009, 12:29 AM   #18
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Pgnewarkboy

Actually, I think the thing to do is look for empirical evidence--sales figures. Ooops, I just remembered--the sales figures come from the developers.

Anyway, the biggest players have all greatly reduced their marketing and sales staffs to the point where the industry might as well put a "Closed" sign up.

Resales will satisfy any needs, except for some urban sites perhaps.

I don't think there is a second act for the industry. The internet has spawned far more savvy buyers and the regulation has neutered the First Call Close.

There will always be remarkably gullible people and gifted salespeople, but never again to a level even remotely close to where things used to be.

Again, for the record, I make a distinction between ts and fractional ownership.
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Old May 3, 2009, 05:16 PM   #19
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We are getting a bit off topic but you don't have to be gullible to buy a timeshare. There is always a second, third, etc act in American business. There are always unique products being developed. You are certainly entitled to your opinion but I wouldn't count timeshares out. If anything, as population soars worldwide I think the market will grow as desirable properties get bought up by the wealthiest leaving fewer options for others. Key west, (trying to get close to the topic) is probably a good example of limited availability and greater demand. The cheap rental that you can get today because of a severely down economy may disappear entirely in the not so distant future.
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Old May 4, 2009, 09:38 AM   #20
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Well said. Time will tell. I have been wrong before. 1954, I believe.
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Old February 9, 2012, 06:31 AM   #21
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I think WP was a leasehold..
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Old February 9, 2012, 03:15 PM   #22
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Key West

We bought 3 wks. at the Hyatt Beach House back in the 90's loved being at the other side of the Island. We were able to get split weeks, where we stayed at the Beach House for one week, go over to Sunset Harbor for part of another week and then back to The Beach House for a total of 2 1/2 weeks. Trading is great, lots of people want to go to KW. We owned 1 wk. for Fantasy Fest and never had a problem renting it out $$$$. We sold them in the early 2000's bc mf's creeped up to just under $900 per wk., due and payable the begining of January. We now can go there and just about anywhere else & rent for less money and enjoy our vacations just as much and not have to worry about added assessments if case of a Hurricane.
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Old February 9, 2012, 05:17 PM   #23
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did anyone else get freaked out when they saw Conch Man's posts?
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Old February 14, 2012, 09:19 PM   #24
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No one has mentioned Coconut Beach Resort

We have owned there for the past 10 years. It is adjacent to Louie's restaurant, situated between the Casa Marina and Southernmost. It has a small beachfront, next to Dog's Beach and is walking distance to Higgs Beach as well as Duval Street. It really is a glorious location in a very pretty section of the island and away from the hordes. The resort is small, only 32 units, and ownership is fixed weeks. All units have water views and 30 are two bedroom, two bath lockoffs. We own Christmas and New Year's weeks and have found it to be a very valuable property - both for trades and rental. It has a beach house feel, which some people like and others don't. The property just underwent a complete renovation in 2012.
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Old February 14, 2012, 09:25 PM   #25
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Please note that this post is from 2009.
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