Timeshare crunch - NYTimes article/ TUG and more mentioned

IreneLF · June 12, 2009, 07:31 AM

NY Times Article on Timeshares
I'm thinking I "know" the people pictured having seen their screen name on these boards...

avad88 · June 12, 2009, 09:54 AM

Yes--I'm quoted in the New York Times article on timesharing.
I got a pm from Ms. Shevory asking if I would talk with her about buying and selling timeshares back in March. My sister writes for a newspaper in VA and I've always had a soft spot for reporters.
My only problem is did she have to put my AGE?????

Ava

timeos2 · June 12, 2009, 09:58 AM

Very informative and factual article. Rare for the mainstream media. Is that OUR Rick & Cindy?

rickandcindy23 · June 12, 2009, 10:10 AM

It is us! Billymach let me know that the article was in today's issue, so I looked it up online.

The only thing I saw that was blatantly wrong, our resort is from the early 80's, not the 60's. And what do you think of our river view? The time of year we were there for the pic was mid-May, and it is just beautiful and warm. The photographer from the Times was amazed at the views from the units.

MULTIZ321 · June 12, 2009, 10:17 AM

To save you a copy and paste - here's the NY Times Article link

And Now, It's Crunch Time for Timeshares

Richard

PerryM · June 12, 2009, 10:20 AM

From the article:

"Timeshare companies now demand that buyers have higher down payments and good credit scores to qualify for a loan. At Marriott International, 80 percent of buyers used to receive financing, but now only half do, said Ed Kinney, vice president for corporate affairs at Marriott Vacation Club International in Orlando. Wyndham, which once required a 10 to 15 percent down payment, has since increased it to 15 to 20 percent, Mr. Holmes said."

Wow!

Now is the time to tighten up the credit requirements? Who came up with that bright idea?

Real estate across the USA is down 25% - resort areas are hit much much more.

How about just reducing the selling price Marriott?

Did anyone ever think of that?

Hello??

ijohns · June 12, 2009, 10:33 AM

I am the India Johns quoted in the article. We still own unfortunately own our timeshare, do not use it, cannot afford it and have not worked out anything with OLCC.

Bill4728 · June 12, 2009, 10:42 AM

Quote:

Originally Posted by NYTimes

“This is the best time to buy and the absolutely worst time to sell,” said Brian Rogers

This is so true. The deals for someone buying a TS are so good. And that means that anyone trying to sell is taking a huge hit.

Steve · June 12, 2009, 10:44 AM

Quote:

Originally Posted by PerryM

How about just reducing the selling price Marriott?

Did anyone ever think of that?

Hello??

Hello?? Guess you missed Marriott's 25% off sale.

Steve

PerryM · June 12, 2009, 10:48 AM

Quote:

Originally Posted by Steve

Hello?? Guess you missed Marriott's 25% off sale.

Steve

Sales are one time events - how about permanently reducing the prices of ALL Marriott units a flat 25% to 50%?

Why are timeshares not subject to the forces of the free market like the rest of real estate?

(Are timeshares getting TARP money? If so, raise the prices!)

wackymother · June 12, 2009, 10:51 AM

Quote:

Originally Posted by rickandcindy23

It is us! Billymach let me know that the article was in today's issue, so I looked it up online.

The only thing I saw that was blatantly wrong, our resort is from the early 80's, not the 60's. And what do you think of our river view? The time of year we were there for the pic was mid-May, and it is just beautiful and warm. The photographer from the Times was amazed at the views from the units.

Is this the reason you were looking for a copy of the NY Times? Were you able to find a paper copy?

rickandcindy23 · June 12, 2009, 11:15 AM

Yes, this is the reason, and I haven't even looked for the paper yet today. I have so much going on right now, including with the RCI loss of trading poewr issues.

I definitely have to get a paper for Rick's stepmom. She doesn't have internet, of course because she is 82, but she wants to show it off at the Elk's Lodge, and to all of her friends.

ricoba · June 12, 2009, 11:21 AM

Hey, this is kind of cool, thanks for sharing the link.

It's fun to see TUGGERS hit the big time in the NYT's!

TUGBrian · June 12, 2009, 11:33 AM

yep, some good articles coming out recently in major media outlets...gotta get the word out somehow!

gmarine · June 12, 2009, 12:26 PM

Good article. Good pictures too!!

wackymother · June 12, 2009, 12:38 PM

I saw you there, gmarine!

Bwolf · June 12, 2009, 12:39 PM

Quote:

Originally Posted by rickandcindy23

Yes, this is the reason, and I haven't even looked for the paper yet today. I have so much going on right now, including with the RCI loss of trading poewr issues.

I definitely have to get a paper for Rick's stepmom. She doesn't have internet, of course because she is 82, but she wants to show it off at the Elk's Lodge, and to all of her friends.

Can't you print the article in color and give it to her? Does she need the entire printed newspaper?

Stricky · June 12, 2009, 02:14 PM

Cool article. Nice job all.

rickandcindy23 · June 12, 2009, 02:31 PM

Quote:

Originally Posted by Bwolf

Can't you print the article in color and give it to her? Does she need the entire printed newspaper?

I think she would rather have the paper. It's early here, and I am working at home today and cannot leave my office to find one. I am going to make some calls to the various bookstores, which are all a distance away.

richardm · June 12, 2009, 03:06 PM

You can also purchase the tin plate used for the printing press (I haven't worked for a newspaper for a LONG time, but I assume the plates are still used in production!).. Makes for a unique gift- and isn't as fragile as a paper copy.

The cost was never much, since they don't have any other use and are simply detroyed after a short time.

DaveHenry · June 12, 2009, 07:33 PM

Cindy and Rick,
I saw your picture in the timeshare article in today's New York Times, along with the description of how your resort is giving away weeks!
I've read so many of your posts (and been helped by them) that I feel that I know you! Glad so see you in the NY Times!
Regards,
Dave

If you need a hard copy, pm me with your address and I'll send it to you.

iconnections · June 12, 2009, 07:38 PM

Quote:

Originally Posted by rickandcindy23

It is us! Billymach let me know that the article was in today's issue, so I looked it up online.

The only thing I saw that was blatantly wrong, our resort is from the early 80's, not the 60's. And what do you think of our river view? The time of year we were there for the pic was mid-May, and it is just beautiful and warm. The photographer from the Times was amazed at the views from the units.

Your river view is lovely, Cindy. It would be nice spending a vacation there in the summer or when there is snow.

Laurie · June 12, 2009, 07:51 PM

Wow - I'm putting Twin Rivers on my exchange wish list!

LisaH · June 12, 2009, 08:36 PM

Nice article!
Cindy, I always assume that the couple in your avatar is you and Rick. Doesn't look quite the same as the one in the article... May I ask who is that couple in your avatar? I'm a little confused here

rickandcindy23 · June 12, 2009, 09:49 PM

Quote:

Originally Posted by LisaH

Nice article!
Cindy, I always assume that the couple in your avatar is you and Rick. Doesn't look quite the same as the one in the article... May I ask who is that couple in your avatar? I'm a little confused here

That picture in the avatar is from our Hawaii trip on Maui four years ago, very shortly after I recovered from a serious health issue and was able to travel after a period of time of a few years when I just couldn't. I no longer dye my hair, and it was longer then, too. I think I should dye my hair again; I had no idea I was so gray!

Seriously, I look so old.

June 12, 2009, 07:31 AM	#1
IreneLF TUG Member BBS Reg. Date: Jun 6, 05 Location: Central NJ Posts: 730 Resorts: Smugglers Notch	Timeshare crunch - NYTimes article/ TUG and more mentioned NY Times Article on Timeshares I'm thinking I "know" the people pictured having seen their screen name on these boards... Last edited by Bill4728; June 12, 2009 at 10:43 AM.

June 12, 2009, 09:54 AM	#2
avad88 TUG Member BBS Reg. Date: Jan 18, 06 Location: Golden Isles of GA Posts: 58 Resorts: BIS, Kitty Hawk Seascape Beach & Golf Villas Presidential Resort, Myrtle Beach	NY Times Article Yes--I'm quoted in the New York Times article on timesharing. I got a pm from Ms. Shevory asking if I would talk with her about buying and selling timeshares back in March. My sister writes for a newspaper in VA and I've always had a soft spot for reporters. My only problem is did she have to put my AGE????? Ava

June 12, 2009, 09:58 AM	#3
timeos2 Moderator TUG Lifetime Member BBS Reg. Date: Apr 11, 05 Location: Rochester, NY Posts: 10,620 Resorts: Now Cypress Pointe w/Diamond Club,Cove@Yarmouth Former: RCI Points Rayburn Country, DVC/Wyndham - Wastegate gone gone!	Very nice Very informative and factual article. Rare for the mainstream media. Is that OUR Rick & Cindy? __________________ John Chase ADOPT A TIMESHARE! There are many owners looking for a good home for great places to enjoy! BUY RESALE! Proudly Microsoft & Apple free with WebOS, Droid Bionic & Verizon Wireless - DW w/Chromebook

June 12, 2009, 10:10 AM	#4
rickandcindy23 TUG Member BBS Reg. Date: Jun 6, 05 Location: USA Posts: 16,155 Resorts: Wyndham, RCI, Shell & DVC Pts; Marriott's Willow Ridge Plat;Val Chatelle; Pono Kai; Hono Koa; SBP (lots); SDO; WorldMark	It is us! Billymach let me know that the article was in today's issue, so I looked it up online. The only thing I saw that was blatantly wrong, our resort is from the early 80's, not the 60's. And what do you think of our river view? The time of year we were there for the pic was mid-May, and it is just beautiful and warm. The photographer from the Times was amazed at the views from the units. __________________ April-Williamsburg May-The Donatello August-Westin Princeville

June 12, 2009, 10:20 AM	#6
PerryM TUG Member BBS Reg. Date: Jun 6, 05 Posts: 4,282	Hello - anyone home?? From the article: "Timeshare companies now demand that buyers have higher down payments and good credit scores to qualify for a loan. At Marriott International, 80 percent of buyers used to receive financing, but now only half do, said Ed Kinney, vice president for corporate affairs at Marriott Vacation Club International in Orlando. Wyndham, which once required a 10 to 15 percent down payment, has since increased it to 15 to 20 percent, Mr. Holmes said." Wow! Now is the time to tighten up the credit requirements? Who came up with that bright idea? Real estate across the USA is down 25% - resort areas are hit much much more. How about just reducing the selling price Marriott? Did anyone ever think of that? Hello??

June 12, 2009, 10:17 AM	#5
MULTIZ321 TUG Member BBS Reg. Date: Jun 6, 05 Location: FT. LAUDERDALE, FL Posts: 6,742 Resorts: CELEBRITY RESORTS PALM COAST; CELEBRATION, ORLANDO; SEAWATCH AT ISLAND CLUB, HHI; RHC (POINTS)	To save you a copy and paste - here's the NY Times Article link And Now, It's Crunch Time for Timeshares Richard

June 12, 2009, 10:33 AM	#7
ijohns Guest BBS Reg. Date: Dec 29, 08 Posts: 27	I am the India Johns quoted in the article. We still own unfortunately own our timeshare, do not use it, cannot afford it and have not worked out anything with OLCC.

June 12, 2009, 11:15 AM	#12
rickandcindy23 TUG Member BBS Reg. Date: Jun 6, 05 Location: USA Posts: 16,155 Resorts: Wyndham, RCI, Shell & DVC Pts; Marriott's Willow Ridge Plat;Val Chatelle; Pono Kai; Hono Koa; SBP (lots); SDO; WorldMark	Yes, this is the reason, and I haven't even looked for the paper yet today. I have so much going on right now, including with the RCI loss of trading poewr issues. I definitely have to get a paper for Rick's stepmom. She doesn't have internet, of course because she is 82, but she wants to show it off at the Elk's Lodge, and to all of her friends. __________________ April-Williamsburg May-The Donatello August-Westin Princeville

June 12, 2009, 11:21 AM	#13
ricoba TUG Member BBS Reg. Date: Jun 7, 05 Location: LAS & LAX Posts: 5,771	Hey, this is kind of cool, thanks for sharing the link. It's fun to see TUGGERS hit the big time in the NYT's! __________________ Rick Gallagher

June 12, 2009, 11:33 AM	#14
TUGBrian Administrator TUG Lifetime Member BBS Reg. Date: Mar 24, 06 Location: Florida Posts: 8,063	yep, some good articles coming out recently in major media outlets...gotta get the word out somehow! __________________ Brian Rogers - TUG Owner tug@tug2.net / The Timeshare Users Group Free Timeshare Exchanges! TUG Owner needs Las Vegas october rental!

June 12, 2009, 12:26 PM	#15
gmarine TUG Member BBS Reg. Date: Jun 6, 05 Location: Commack,NY Posts: 3,836 Resorts: Renaissance Aruba,St James Club Antigua ,Westgate, Marriott Manor Club, Worldmark, Kings Creek Plant,Twin Rivers,SDO,SBP	Good article. Good pictures too!! __________________ II member since 1994 Tug member since 2001

June 12, 2009, 12:38 PM	#16
wackymother TUG Member BBS Reg. Date: Aug 1, 05 Location: NJ Posts: 3,314	I saw you there, gmarine!

June 12, 2009, 02:14 PM	#18
Stricky TUG Member BBS Reg. Date: Feb 6, 09 Location: Near Philadelphia, PA Posts: 557 Resorts: Smuggler's Notch	Cool article. Nice job all.

June 12, 2009, 03:06 PM	#20
richardm TUG Member BBS Reg. Date: Aug 6, 07 Location: Orlando Posts: 1,044	You can also purchase the tin plate used for the printing press (I haven't worked for a newspaper for a LONG time, but I assume the plates are still used in production!).. Makes for a unique gift- and isn't as fragile as a paper copy. The cost was never much, since they don't have any other use and are simply detroyed after a short time.

June 12, 2009, 07:33 PM	#21
DaveHenry TUG Member BBS Reg. Date: Jul 18, 08 Location: Philadelphia Area, Pennsylvania Posts: 91 Resorts: Wyndham Points, Summit at Massanutten, Briarwood, Marriott's Seaview, Shearwater, Ocean Time, RCI Points, WP Plant.	Cindy and Rick, I saw your picture in the timeshare article in today's New York Times, along with the description of how your resort is giving away weeks! I've read so many of your posts (and been helped by them) that I feel that I know you! Glad so see you in the NY Times! Regards, Dave If you need a hard copy, pm me with your address and I'll send it to you. __________________ Dave Henry

June 12, 2009, 07:51 PM	#23
Laurie TUG Member BBS Reg. Date: Jun 6, 05 Location: NC Posts: 1,940	Wow - I'm putting Twin Rivers on my exchange wish list!

June 12, 2009, 08:36 PM	#24
LisaH TUG Lifetime Member BBS Reg. Date: Jun 6, 05 Location: SF Bay area, CA Posts: 2,106	Nice article! Cindy, I always assume that the couple in your avatar is you and Rick. Doesn't look quite the same as the one in the article... May I ask who is that couple in your avatar? I'm a little confused here

Thread Tools	Search this Thread
Show Printable Version Email this Page	Search this Thread: Advanced Search
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode