Does Williamsburg Plantation week 31 have sellable value?

[icydog]

The ladies, a mother and daughter, each own a two bedroom unit at Williamsburg Plantation--Week 31. Do these weeks have any value? I don't know if specific units are assigned, but I know they have always put the two units together for a 4 bedroom.

I tried to find comparable units on Redweek, TUG, Ebay etc and can't find anything. All I found were winter and shoulder season weeks.

They have been depositing their weeks into II for several years, but they never take vacations due to the mother's health. They bought the contracts about 15 years ago. I don't need to tell you what they were told when they bought into the timeshare-- but it amounted to-- it was an accruing investment and would be worth more and more each year!


I don't know these owners other than by way of a phone call. They were given my name by someone in my community since they heard I know something about timesharing.

Bottomline---I told the owners to try to give their units back to the developer.

Do you think that was the right advice?

Thanks
Marylyn

 

[dominidude]

This unit is very giveable, if I didn't have one already I'd definitely wanted for myself.
As far as selling, that's a tough proposition.
Technically you should be able to get some one to take over the timeshare maintenance fees, and the buyer would probably be willing to pay closing costs.
These are usually 2bdr to 4 bdr units and week 31 has the highest travel demand for Williamsburg.
So technically you can use this to trade into anything in II.
However, the reality is that getting a unit for trading is risky. Trades are not guaranteed.
Hope this helps.

 

[icydog]

This unit is very giveable, if I didn't have one already I'd definitely wanted for myself.
As far as selling, that's a tough proposition.
Technically you should be able to get some one to take over the timeshare maintenance fees, and the buyer would probably be willing to pay closing costs.
These are usually 2bdr to 4 bdr units and week 31 has the highest travel demand for Williamsburg.
So technically you can use this to trade into anything in II.
however, the reality is that getting a unit for trading is risky. Trades are not guaranteed.
Hope this helps.

The owner cannot vacation anywhere even with all the deposits and bonus II weeks. So it is not a usable week for them. I just wanted to know if the weeks had value "for a for sale kind of thing" not a give away, since they are the first week in August. I told her to give it back to the developer. I just hope that was good advice.

 

[tschwa2]

At the best of times this timeshare would be worth about $100-$500. The higher the for sale price the longer it will take to find a buyer but with persistent craigslist postings with a lot of pictures and a good ad I think it would be sellable for $500 in 3-5 months. In order to get that above closing and transfer, the owner would have to make 2018 usage with reimbursement optional or start usage in 2019. Likely she wants to get rid of it now and not pay 2018 MF's. Even free, I think the transfer fee is around $299 and closing would be around $200 and MF for 2018 would be about $820. She would be looking at someone having to pay paying $1320 in the next month.

I think the developer may take back prime weeks but this late in the year I think the developer will still expect 2018 MF;s plus the transfer fee if they accept it all.

I own one summer annual and one summer EOY there. They exchange well in II and you can start an ongoing search for 2 bedrooms with each side. You do have to prepay both MF and II exchange fee in order to set that up. It also is fairly easy to rent out one or both sides if you don't want to use or deposit without loosing any money- not a big money maker in terms of renting but a summer 2 bedroom with full kitchen rents for $500 and partial kitchen for $450 and more if you put more time and effort into the process.

So basically no resale value. She should check with the developer and if she could give back without paying 2018 MF with no more than $300 out of pocket I think that would be the easiest solution. If the developer wants 2018 MF then she might want to try giving away -first with the new owner paying the 2018 MF and all related transfer and closing fees and if that doesn't work she might need to pay some of that too.

 

[dominidude]

The owner cannot vacation anywhere even with all the deposits and bonus II weeks. So it is not a usable week for them. I just wanted to know if the weeks had value "for a for sale kind of thing" not a give away, since they are the first week in August. I told her to give it back to the developer. I just hope that was good advice.

I wasn't talking about the current owners traveling anywhere, i was mentioning this as a possible selling point to new owners.
Giving it back to the resort is not usually free. They usually require that the maintenance fees be pre paid for a certain number of years. For Williamsburg plantation I've personally seen 2 years, but it does vary according to who in the resort you're dealing with, and there seems to be a lot of turn over of personnel at that Resort.
So in the context of what's chepeast and quickest, I'd say that giving it away with the buyer paying closing costs or asking for not more than $250 would get the current owners out relatively quickly from their continuing obligation.

 

[pedro47]

Explain to developer the situation and ask 'BETTER YET PRAY'; that they the developer will take it back.
Williamsburg Plantation has zero resale value unless it is July 4th week and that is my opinion only.

 

[dominidude]

The sold Ebay listings below are all for shoulder to low season. They list Williamsburg Plantation timeshare weeks that sold for low amounts, but they sold for real money. Week 31, since it is in high season, will probably have a higher value, maybe double the highest offer, in other words $200. The resort should be happy to take the week back.
If the resort does not give the owners good terms (such as, for example, asking for only one years MFs instead of two or more) I'd definitely try my luck here in TUG and Craigslist.
The owner of this week is NOT stuck with it. They should be able to give it away or sell it for a low amount.
Trust me, this is a lot better situation than 80 to 90% of all timeshare owners who cannot give away their timeshares because their timeshares are worth less than Zero dollars.

Sold listings Ebay
Week 43 on Nov 08, 2017, $103.50, 8 bids
https://www.ebay.com/itm/Williamsbu...402669?hash=item590117706d:g:NbgAAOSwSypY-lQW

Week 42 on Nov 01, 2017 , 10:05PM, US $66.00, 17 bids
https://www.ebay.com/itm/Williamsbu...531305?hash=item23914bfba9:g:~IsAAOSwDmtZlZ0Y

Week 19, Dec 03, 2017 , 9:00PM, $1 + 99 closing costs, 1 bid
https://www.ebay.com/itm/4-Bedroom-...994615?hash=item3f8d166477:g:GHwAAOSw44BYK1XH

 

[tschwa2]

The sold Ebay listings below are all for shoulder to low season. They list Williamsburg Plantation timeshare weeks that sold for low amounts, but they sold for real money. Week 31, since it is in high season, will probably have a higher value, maybe double the highest offer, in other words $200. The resort should be happy to take the week back.
If the resort does not give the owners good terms (such as, for example, asking for only one years MFs instead of two or more) I'd definitely try my luck here in TUG and Craigslist.
The owner of this week is NOT stuck with it. They should be able to give it away or sell it for a low amount.
Trust me, this is a lot better situation than 80 to 90% of all timeshare owners who cannot give away their timeshares because their timeshares are worth less than Zero dollars.

Sold listings Ebay
Week 43 on Nov 08, 2017, $103.50, 8 bids
https://www.ebay.com/itm/Williamsbu...402669?hash=item590117706d:g:NbgAAOSwSypY-lQW

Week 42 on Nov 01, 2017 , 10:05PM, US $66.00, 17 bids
https://www.ebay.com/itm/Williamsbu...531305?hash=item23914bfba9:g:~IsAAOSwDmtZlZ0Y

Week 19, Dec 03, 2017 , 9:00PM, $1 + 99 closing costs, 1 bid
https://www.ebay.com/itm/4-Bedroom-...994615?hash=item3f8d166477:g:GHwAAOSw44BYK1XH

The week 43 if you go into the details paid all closing, transfer fees and free 2018 usage and the buyer also gets $500 back so about $1900 out of pocket for the seller and they get paid $103.50

The second one got free transfer, closing, free 2018 week and $100 visa card.

The third one was a biennial odd with fees starting in 2019 so they paid $100 and had half free usage. I am also not sure if the new owner realizes that the $424 will be due every year starting in 2019 vs just on the usage year like they are paying for the first year.

 

[dominidude]

Let's take the worst case scenario, say a seller needed to pay $1900 to get rid of a shoulder to low season timeshare at Williamsburg plantation.
My point is that the resort may accept a deed for a prime season week 31 only if the seller agreed to pay more than $1900.
Obviously, the seller should not be willing to do that, and instead should try to give the timeshare away using Tug or Craigslist, since it seems that is a totally doable option.

 

[chapjim]

The owner cannot vacation anywhere even with all the deposits and bonus II weeks. So it is not a usable week for them. I just wanted to know if the weeks had value "for a for sale kind of thing" not a give away, since they are the first week in August. I told her to give it back to the developer. I just hope that was good advice.

<snip>
These are usually 2bdr to 4 bdr units and week 31 has the highest travel demand for Williamsburg.
<snip>

Really?? Week 31 has the highest travel demand for Williamsburg? Prime week?

Week 31 is mid-August! Very likely to be insufferably hot and humid.

 

[icydog]

Week 31 is the last week in July to the first week in August

Really?? Week 31 has the highest travel demand for Williamsburg? Prime week?

Week 31 is mid-August! Very likely to be insufferably hot and humid.

 

[chapjim]

Week 31 is the last week in July to the first week in August

First full week in August in 2018. My comment stands otherwise.

 

[icydog]

First full week in August in 2018. My comment stands otherwise.

Quoted From chapjim,
“Really?? Week 31 has the highest travel demand for Williamsburg? Prime week?
Week 31 is mid-August! Very likely to be insufferably hot and humid”

Since when does the first full week in August equate to the middle of August. To me the middle of a month starts on the 15 or 16th.

But I’m tired of replying to your determination on the dates of a fixed week timeshare. And why should I care anyway? It matters not to me what you believe!

You can change someone’s opinions— but it’s very difficult to change someone’s beliefs. Belief systems are not necessarily true, but they are true to the individual who has them! And that individual will fight to the death to uphold his beliefs—whether they are correct or incorrect.

 

[paxsarah]

I'm sure it varies, my my kids typically go back to school the first full week of August, plus it is still insufferably hot and humid. I certainly wouldn't think that week has the highest demand for Williamsburg.

 

[chapjim]

Quoted From chapjim,
“Really?? Week 31 has the highest travel demand for Williamsburg? Prime week?
Week 31 is mid-August! Very likely to be insufferably hot and humid”

Since when does the first full week in August equate to the middle of August. To me the middle of a month starts on the 15 or 16th.

But I’m tired of replying to your determination on the dates of a fixed week timeshare. And why should I care anyway? It matters not to me what you believe!

You can change someone’s opinions— but it’s very difficult to change someone’s beliefs. Belief systems are not necessarily true, but they are true to the individual who has them! And that individual will fight to the death to uphold his beliefs—whether they are correct or incorrect.

Calm down! Why the outrage? I made a mistake and admitted it! Week 31 is the first full week in August in 2018.

The real point, however, is there's not a lot of difference weather-wise between the first week in August and the third week in August. Also, Week 31 is not a particularly high demand week in Wmsburg, let alone "the highest travel demand for Williamsburg."

 

[tschwa2]

Basically the whole summer is very high demand (higher than any other time of year). Summer for most school systems in an 8 hour drive of Williamsburg includes weeks 25-32. Fourth of July week might have an additional bump in demand. It doesn't matter that it is hot and humid. It doesn't matter that it is August and there will probably be thunderstorms almost every afternoon. Like visiting Hilton Head at that time of year, I think weather in July and August makes it a very unpleasant time to travel but the demand is still at the peak during those late June through early August weeks.

I also agree you can't compare off season sales to summer sales. That's why I didn't. Dominidude quoted those ebay completed sales as showing demand in terms of resale value for non summer and I wanted to refute that. I believe there is some resale value in summer Williamsburg but not if you want to sell quickly at this time of year with MF due at time of sale.

 

[dominidude]

I believe there is some resale value in summer Williamsburg but not if you want to sell quickly at this time of year with MF due at time of sale.

I believe this also.

I just want to add that giving the timeshare back to the resort is not NECESSARILY easy peasy. At this particular resort I don't believe there is a particular point of contact to give back a timeshare.

So the first order of business would be finding someone at the resort with enough authorization to make commitments for the resort and who will additionally actually pick up the phone and take the steps necessary to get the timeshare from the current owners, all for no extra pay to this person.

If your friend proceeds to give the timeshare back to the resort, please post here any contacts within Williamsburg plantation who help along the way. This info could be valuable later to anyone who owns Williamsburg plantation.

To me giving the timeshare away or selling it for a low price seems easier by comparison, since the buyer and seller will both be interested in the transaction taking place.

Really?? Week 31 has the highest travel demand for Williamsburg? Prime week?

Week 31 is mid-August! Very likely to be insufferably hot and humid.

II has the TDI otherwise called the travel demand index for week 31 in Williamsburg as 150. 150 is the highest number that the TDI can go. So, yes really, week 31 is a prime week with highest travel demand according to a very established company in the travel business. I'm not sure why this is even an issue.

 

[Saintsfanfl]

Week 31 is very high demand in II for Williamsburg. It doesn't matter whether Williamsburg actually has high demand that week or not, it is programmed that way in II.

Taking it further this very high trading power time continues all the way to week 34 and I am not stating this based on the TDI chart. I have owned week 27, week 31, and week 34. I have never been able to find a trading power difference between the three weeks.

 

[Saintsfanfl]

To answer the original question, the unit has good value to someone for use or trading. The problem though is supply and demand and since there are so many 4BR lock-off units available in Williamsburg there are more people wanting to sell them or give them up then there are takers or buyers that want them for value. Because of this the sale value ends up being close to zero.