I think, therefore I transfer.

Thursday, December 16, 2010

Got Timeshares for Sale?

Many timeshare owners today are looking for a way out of timeshares. Please continue on reading this article if you either interested in getting out of a timeshare contract or if you are considering putting your timeshares for sale in the very near future. This article seeks to inform you about what to do when you have a timeshare with a for sale sign up in front of it.

As you are probably aware, timeshares for sale are rather common on the market right now due to rising timeshare maintenance fees and special assessment fees. When you buy a timeshare and sign that contract, you are also unfortunately tying yourself down to a lifetime of debt. This is because a timeshare contract is virtually unbreakable by nature and the only way to get rid of a timeshare deed is by transferring it over to someone else and putting your timeshares up for sale seems like the best way to go about it.

Unfortunately, timeshares for sale are simply not selling. This is because with the internet becoming more and more predominant, everyone has the resources to study up on their purchases by checking out any number of complaint boards. When you do so, you will find that timeshares for sale are one of the highest ranking complaints anywhere on the internet. In fact, the Better Business Bureau has gone on record to say that the timeshare resale industry is one of the largest scams across America today. With so few buyers, it is no wonder people are having such a hard time getting rid of their timeshares for sale.

In addition to the lack of interest and scam warnings, many people are not interested in timeshares for sale because of those pesky maintenance fees and special assessments. Maintenance fees are the charges you accrue annually from the timeshare resort to cover your share of the cost of cleaning and replacing any of the appliances in use while special assessments are charged to you for any reason at all be it to cover for weather damage or to replace all the TVs on the resort. It is for all these reasons and more that people are so desperate to get out of their timeshare and put them up for sale.

So how do you get out of a timeshare if you have timeshares up for sale? First thing's first, do not go through a timeshare resale company. Just in the state of Florida alone right now there are 50 timeshare resale companies under investigation and 11 have already been convicted of false and deceptive practices. If you have a timeshare for sale sign up, do yourself a huge favor and take it back down because that will only lead you down a road to further debt. If you absolutely must get out of your timeshare due to the always increasing costs, consider going with a reputable company with a proven track record of successfully getting people out of their timeshare contracts like Timeshare Relief.

Wednesday, September 22, 2010

Transfer Smart News: Reynoldsburg Couple Can’t Get Rid of Campground Timeshare

Timeshares are known for their hefty fees. Such fees are the main reason why many owners today want to get out of their timeshares. In Reynoldsburg, Ohio, one family said that they've paid out $20,000 over the past 25 years for a campground timeshare membership. Suddenly, they stopped paying two years ago and creditors started to call.

Last 1985, Jack and Mildred Kidwell, in their late 40s, bought a timeshare for camp sites around the country. Since then, they are paying thousands of dollars in finance charges and dues.

According to Kidwell, they tried to sell or cancel it but the company refused. At 72 years old and with severe arthritis, Kidwell said they had to sell the camper. But Equity Lifestyle Properties which is the parent company of Thousand Trails Campgrounds is trying to keep him paying.

He said, he just wanted them off his back and to quit trying to bill him for more money. Meanwhile, Joan Coughlin, Spokesperson for the Central Ohio Better Business Bureau, in this particular contract there is no right of rescission, that's an important element to look for in any contract. Right of Rescission is a language that allows the buyer with notice to terminate a contract.

On the other hand, the said company has an F rating with the Better Business Bureau. In 2001, as Kidwell said, his annual dues rose from $272 to $500 and in the last two years. He and Mildred decided to stop paying for their vacation and the creditors are calling.

Tuesday, September 21, 2010

Transfer Smart News: Eurostar Acts as a Viable Alternative to Visit Europe’s Timeshare Resorts

With the many owners today who are trying to get out of their timeshares along with the negative perception of the consumers with such properties, timeshare operators are on their extensive advertising campaign to attract the consumers. Recently, Eurostar’s latest TV ad campaign created around the concept “exploring is beautiful,” captures the romance of train travel in an unexpected way.

The ad is like a short dreamy film which has an almost modern, magical Alice in Wonderland quality to it with a little girl strolls through her city park zoo, talking to the animals and trying to get them to talk back to her, until it fades to the tagline “Eurostar: Exploring Is Beautiful – Connecting You To Provence, Cologne and more...”

This is the Eurostar’s first TV commercial in three years. Despite the much publicized trouble with some trains last December, the company has seen a steady rise in passengers this year. Many consumers are opting for train travel to “short-haul” destinations as a safeguard against volcanic ash cancellations, airline or air traffic controller strikes, all of which have been wildcards that disrupted holidays this year.

With so many luxury brand hotels and self-catering city apartments today like Hilton, Wyndham and the Four Seasons now available as part of the timeshare holiday experience, getting away to explore one of Europe’s beautiful cities has never been easier. With a growing number of timeshare and vacation resorts in regions like French Alps and the south of France, Eurostar’s European network is becoming a viable alternative to air travel, assuming you have some time to spare.

Monday, September 20, 2010

Transfer Smart News: Kirkland Man Gets a Timeshare Refund

Timeshares are considered one of the vacation properties today which are closely associated with aggressive sales tactics and scams. Take the case of a Kirkland man who recently bought a timeshare and ended up regretting it.

Justin Bartlett of Kirkland won a free trip with a call from the people who run Wyndham Resorts. This led to a meeting and sales pitch. What attracted him was the chance to stay in Washington state properties at a moment's notice.

Justin then paid $1500 down and promised to pay $200 a month. But for months, he couldn't get any last minute reservations. As he said, he had tried multiple times in local areas Leavenworth, Lake Chelan and Seattle to get rooms but he can't get a room.

So, Justin find the salesman hoping that he was still working for the company and to ask him why this wasn't true. Justin found the salesman working out of Bend, Oregon because his Bothell office went out of business. The salesman is Joe Kennedy, in Bend. The salesman said, if Justin wants, he can sign a letter saying he lied to him. So Justin had his attorney draft up an affidavit and the salesman signed it.

The signed, notarized piece of paper has Joe saying "I was told to convey statements to Justin Bartlett that were untrue just to get him to purchase the travel share program." Justin mailed the affidavit to the company hoping for a refund. At first, the company will not hold any responsibility for what the sales rep had done. But a few days later, Wyndham gave him a call and said that they are going to give him all of his money back and they are letting him get out of the timeshare contract.

Saturday, September 18, 2010

Smart Ways to Save Through Vacation Rentals

If you are one of those who love to travel, may be you are considering owning a timeshare. With the current economy, many owners are trying to get out of their timeshares and thus, the units on the resale market are also flooding. Such properties might be tempting. But today, there are also those properties in sought after locations that are available for reasonable rent. If you are on a tight budget or looking for ways to save in a vacation, vacation rentals might be a great option.

Vacation rentals offer you flexibility in both location and time compared to actually owning a timeshare unit. Purchasing a timeshare limits your annual vacation to one locale and your vacation to a certain time of year. A timeshare also entails an annual maintenance fee. In other words, vacationing with a timeshare will be the same every year despite being luxurious and packed with many amenities.

With vacation rentals, you can choose any location and the specific period for your vacation. One of the popular options these days is the condo rental membership. With this, you can vacation with a number of benefits like discounts. Some condo rentals are packaged with various benefits including dining and entertainment discounts. There are also packages that include tickets to the theater or maybe scuba diving lessons.

A condo rental is no doubt one of the best offers available for a great vacation. With this option, you can avail for a relaxing vacation with many benefits and enable to save more. This also allows you to vacation even when you are on a tight budget.

Thursday, September 16, 2010

Transfer Smart News: Timeshare Investigation Results to a 55-Year-Old Man Arrest

Recently, a 55-year-old man from Banbury has been arrested as a result of an investigation of a timeshare scam originating in Spain. The investigation was launched by Thames Valley Police in July. The complainant testified that he had been targeted by a scam in which people wanting to get out of their timeshares are contacted by a marketing company and told that there are buyers lined up.

However, to go on with the sale, there’s a £1,000 administration fee to the company called Golden Sands Marketing, which gave its correspondence address as Horse Fair, Banbury. Meanwhile, the police visited the address and closed down a mailbox, where letters were being held before being sent onto Spain.

There are more than 100 letters which have been found out so far and officers are informing the senders about the ongoing inquiry. According to the Thames Valley Police, its officers have been liaising closely with Oxfordshire County Council’s tading sandards department, as well as the Spanish authorities, throughout the investigation.

As a result of the investigation, a 55-year-old man was arrested on suspicion of conspiracy to defraud. The man will be released on bail until January 2011 for further enquiries to take place.

On the other hand, PC Suzanne Cubitt of Banbury police station said,they believe people across the country who want to get rid of their timeshares have fallen victim to this scam and are keen to get the message out that timeshare owners are being targeted in this way. She added that they are urging people to be vigilant and think carefully before making payments over the phone as a result of unsolicited calls.

Wednesday, September 15, 2010

Transfer Smart News: State Proposes to Impose Accommodation Taxes on Timeshares

While many owners today want to get out of their timeshares because of the increasing maintenance fees, there’s a proposal in South Carolina to tax timeshare maintenance fees. This creates uproar in the timeshare industry. Meanwhile, the hoteliers push to impose such taxes on timeshares.

The said proposal aims to collect accommodations taxes on maintenance fees which have previously gone untaxed. According to Paul Goodrich, president of sales and marketing for SPM Resorts, which manages 33 timeshare resorts on the East Coast and in the Caribbean, including three on Hilton Head Island, the annual fees cover such things as roof replacement, management fees and property taxes. He stressed out that timeshare owners already pay accommodations taxes when they rent their property. So, they shouldn't have to pay those taxes on their maintenance fees.

On the other hand, Frans Mustert, a supporter of the proposal and also a Myrtle Beach hotelier who was also instrumental in crafting it, said that timeshare owners who only come to the state a few weeks a year are the same as tourists who rent hotel rooms and they should pay their fair share for the services and marketing.

The accommodations tax funds is drafted to go toward municipal services for tourists and out-of-state marketing for a destination. The legislature-appointed Taxation Realignment Commission estimates that the tax could generate about $10 million in the state. Most of the money would likely come from those vacation hot spots which have most of South Carolina's timeshare units like the Grand Strand or Hilton Head Island areas.

Tuesday, September 14, 2010

Transfer Smart News: Timeshare Company Files for Bankruptcy Due to Falling Sales

For those individuals or businesses who want to start fresh by forgiving debts, filing for bankruptcy might be the solution. These debts can't be paid while offering creditors a chance to obtain some measure of repayment based on what assets are available. In the US, many companies file for bankruptcy because of the struggling economy. One of these is the Island One Inc. and five of its affiliates citing falling sales and declining property values. One of the issues face by such companies is the increasing number of owners trying to get out of their timeshares because of the difficulty paying the fees.

Island One and its affiliates have developed and managed timeshare resorts in Florida and the US Virgin Islands since 1981. Through Navigo Vacation Club, these companies have developed a timeshare network that extends throughout the US, Latin America, the Caribbean and Europe.

Meanwhile, the said company listed both its assets and debt in the range of $100 million to $500 million in Chapter 11 documents which was filed last Sept. 10 in US Bankruptcy Court in Orlando. According to the lawyers of Island One, the fall of the real estate markets in Florida and throughout the US and the general downturn in the economy have significantly impacted the resort development and hospitality industries.

The vacation industry is greatly affected by the economic decline since it broke up in the late of 1997. On the other hand, the ability to file for bankruptcy can benefit an overall economy by giving persons and businesses another chance and providing creditors with a measure of debt repayment. This is what some of the timeshare companies are doing right now.

Transfer Smart News: Survey Indicates a Flourishing Hawaii Timeshare Industry

Hawaii is known for its great beaches and as a vacation destination. It is also one of the havens of several timeshare resorts in the US. Recently, there’s a survey that shows that the flourishing Hawaii timeshare industry has high occupancy rates. Meanwhile, it helps support the state’s vacation industry throughout the recession.

In 2009, timeshares throughout this state were an average 90.8%. According to a new survey conducted by the Hawaii chapter of the American Resort Development Association (ARDA) which is a trade association representing vacation ownership and resort development industries, Hawaii hotels and condominiums were an average 66.5% full in 2009. Hotels and condominiums can be considered as counterparts of timeshares.

The said survey is called the “State of Hawaii Timeshare Industry Survey.” It included responses from 84.3% of all timeshares in Hawaii and was last published in August 2008. In recent years, there are several new hotel and resort development and construction in Hawaii. These include timeshares.

On the other hand, the survey indicates that Hawaii’s timeshare inventory has increased by 12% in two years to 8,608 units spread among 87 timeshare properties. Although we usually hear many owners trying to get out of their timeshares, according to the survey this industry is flourishing despite such challenges. It even outflanks hotels and condominiums which can be considered as competitors of timeshare properties.

Saturday, September 11, 2010

Transfer Smart News: Hawaii’s Timeshare Industry Shows Resiliency

Although the recent years depict a number of challenges for the timeshare industry, it still showed resiliency. Some of the common challenges include the increasing number of owners trying to get out of their timeshares and the negative perception of many consumers about it. Despite these, Hawaii’s timeshare inventory will continue to grow with another 4,881 units in the pipeline. It shows that the concept of vacation ownership has remained resilient throughout the economic downturn. This is according to an industry survey conducted by the Hawaii chapter of the American Resort Development Association.

In 2009, capital expenditures in Hawaii for the timeshare industry totaled $138.7. According to the survey, it will close out at $64.3 million this year. Among the newest timeshare properties opening later this year is the Wyndham Royal Garden at Waikiki which is the latest addition to Wyndham Vacation Ownership’s Hawaii portfolio.

According to Eric Penningroth, Wyndham’s regional vice president for the Hawaii, the first phase of the Wyndham Royal Garden which will include approximately 140 time-share units and 68 condominiums, will open in mid-November with a grand opening scheduled for February.

On the other hand, the American Resort Development Association which represents vacation ownership and resort development interests stated that Hawaii’s timeshare industry posted $400 million in sales last year and grew to 8,601 timeshare units in 87 properties.

Friday, September 10, 2010

Transfer Smart News: AG Delaney Warns Consumers When Selling Their Timeshare

As those owners trying to get out of their timeshares have become a favorite target of many scammers, Attorney General Michael A. Delaney warned that consumers should exercise caution when attempting to sell a timeshare through real estate brokers, agents and companies that specialize in reselling timeshares.

Meanwhile, Delaney also offered some tips to New Hampshire consumers. Even if the salesperson claims the local market is hot, or his or her office is overwhelmed with buyer requests, don't just agree to anything on the phone or online. It is safe to check out the reseller first. You may contact the Better Business Bureau or the Attorney General's office in the state where the reseller is located.

Also ask if any complaints are on file and ask for all information in writing. Find out if the reseller's agents are licensed to sell real estate where the timeshare is located. If so, verify it with the state’s real estate commission. Moreover, deal only with licensed real estate brokers and agents, and ask for references from satisfied clients. Ask how the reseller will advertise and promote your vacation property. It's better if the reseller takes its fee after the timeshare unit is sold.

Wednesday, September 8, 2010

Smart Reasons Why You Should Think Critically Regarding Timeshares

In today's troubled economy, most consumers are looking for ways to reduce their expenses. For some holidaymakers, this may mean that getting out of a timeshare contract is one of those ways. At first, you may think that timeshares can be a great way to vacation. However, there are a number of things that you need to take into account before you buy a timeshare.

One major thing that you need to keep in mind when you're at the presentation is not to be swayed by any slick marketing talk or any text plan your emotions. Be aware that you will be subjected to a high-pressure sales tactics after a presentation. Take note that the people doing the presentation, will not only make money on the sale, they may also get commissions well so it's in their interest to get a hard and fast sale as quickly as possible.

Thus, do a research before you consider owning a timeshare. Find out whether or not such properties are going to be a good long-term investment. Do not be swayed by flashy graphics during a presentation. Instead, ask the salesperson about such properties whether it fits what you are looking for in a timeshare. Something else you want to consider also is if they are willing to take you and show you the property that they want to sell you. Also find out if such vacation property requires extensive repairs or a property that is in a neighborhood that is not safe.

Tuesday, September 7, 2010

Smart Ways to Sell a Timeshare or Vacation Club Points

The increases in annual fees force many owners to get out of their timeshare contracts or vacation club membership points. Despite the image of a great location with complete amenities and services of timeshare and vacation clubs, owners still find it extremely difficult to sell such properties. In many respects, this is not always the best option for owners experiencing financial difficulties with their timeshare holiday experience.

The major drawback when selling your timeshare or vacation club points may be the number of sanctions written into the Deeds and purchase agreements which can make them extremely difficult to sell on to independent purchasers. For example, a number of vacation clubs will only allow sales to existing vacation club points owners. Meanwhile, points owners may well find that in order to progress the sale, they must pay to transfer their annual points allocation to fixed weeks in local timeshare resorts.

However, there are better ways to sell timeshares or vacation points. One of these methods would be to cultivate friendships with existing owners at local timeshare venues. Many timeshare owners and vacation points owners are convinced that this method of holidaying is better and are happy to purchase points from other members as it is cheaper than buying direct. Moreover, selling to an existing owner is a lot easier and avoids any legal problems that may be written into the timeshare deeds.

On the other hand, one way to capitalize on such vacation properties is to rent it out to third parties, friends and relatives. The property will still be in your ownership but with successful advertising, you could easily raise sufficient funds to ensure the payment of management charges.

Monday, September 6, 2010

Transfer Smart News: Prominent Timeshare Network Affiliates with New Bali Property

Although there are still a number of owners trying to get out of their timeshare properties, some operators are optimistic about what lies ahead for this industry. As a matter of fact, some timeshare providers are showing signs of expansion and partnerships with other companies. One of this is the Interval International which is a prominent worldwide provider of vacation services. Recently, it has added the Peninsula Bay Resort, situated on the Indonesian island of Bali, to its resort network.

The said resort is the latest vacation ownership property developed by British entrepreneurs, Roger and Alan Thomas, and is located on the waterfront of Nusa Dua overlooking the golden sand beaches of Benoa Bay. According to Joe Hickman, Interval International’s executive director for Asia Pacific, they have had an excellent partnership with the Thomases since they affiliated Peninsula Beach Resort with Interval more than 10 years ago. He added that they look forward to working with them on the new Peninsula Bay Resort which is certain to prove as remarkable.

When completed, the purpose-built project will feature 65 one- and two-bedroom units, all with sea-facing views. It is being built using contemporary Balinese architecture and is set within lush tropical gardens to create an eco- friendly atmosphere. The new property is just a five-minute drive from Peninsula Beach Resort. It has shuttle service between the two, so that owners are free to enjoy the amenities at both.

On the other hand, Roger Thomas stated that their second resort in Bali, which is the Peninsula Bay Resort, offers unrivalled spaciousness and luxurious comfort in an idyllic tropical setting. From their years of experience, they know that only one exchange company is capable of providing the highest standard and quality service. They chose to affiliate with Interval International so that their members could enjoy the many vacation benefits and the efficient and caring service that the company unfailingly provides.

Sunday, September 5, 2010

A Smart Guide to Orlando Timeshare Rentals

As a number of owners are trying to get to out of their timeshares, many holidaymakers opt for rentals units for their vacation. One of the hot spots when it comes to vacation destination is the state of Florida. Staying at a resort style timeshare will add a relaxing component to a vacation in this area. Currently, there are 92 timeshare resorts located in the Orlando vicinity.

Timeshare properties can be purchased for yearly use or rented one week at a time by anyone. When purchasing timeshare it can be bought at the resort of choice or on the secondary market through sites like ebay, craigslist or through individuals. Researching timeshare programs will provide the proper decision making about the commitment of a purchase fee and yearly maintenance fees.

Meanwhile, renting a timeshare offers the chance to experience the lifestyle and accommodations before making the lifetime purchase. Timeshare rentals can be done through the websites listed above, employer websites, and individuals. It is also often an inexpensive and luxurious way to travel.

A brief look at Orlando timeshare resorts will serve as a guide to the accommodations that are in the region. Doing a bit of research also will maximize the benefits of an Orlando timeshare experience. There is Holiday Inn Orange Lake Golf and Country Club. This beautiful complex features multiple restaurants, cafes and shopping within the Orange Lake complex. Each unit comes with an equipped kitchen, washer, dryer and deck.

There is also the Sheraton’s Vistana Resort which is located near Disney World. This 135 acre expansive park like setting is surrounded by fountains and lakes. You can wander the lush tropical vacation resort where you will find 13 tennis courts, 7 swimming pools, fitness center and 18 holes of miniature golf. Moreover, there is Summer Bay Resort which is a Caribbean style resort located 6 miles outside of Disney World. Palm trees, lakes, and greenery surround the complex that boasts the option for various water activities like jet skiing, water skiing, canoeing and pontoon boating.

Thursday, September 2, 2010

Transfer Smart Alert: AG Kroger Warns Oregonians about Unscrupulous Timeshare Scams

As the number of owners trying to get out of their timeshares is increasing every year, fraudulent resale activities also tend to surface. Meanwhile, in Oregon, Attorney General John Kroger warns its citizens to be wary of unscrupulous offers to sell timeshare properties.

There are reports from property owners about dishonest companies with legitimate-sounding names, such as International Timeshare Consolidators (ITC). Such companies mislead consumers by offering to help to sell their vacation properties. While posing as an agent or broker, they will produce an appraisal or offer a very generous bid for the timeshare or vacation property. But before the sale is finalized, the consumer will be told that they owe taxes or administrative fees. Once the property owner has paid the fees, the broker or agent will vanish without a trace.

Unfortunately, it can be almost impossible to locate the culprit. According to the BBB, the address ITC deceitfully provided to consumers has received stacks of undeliverable mail, and countless visits from stunned customers. If you are a timeshare owner and someone contacts you to offer assistance with the sale of your property, there are some precautions to reduce the risk of falling for a scam.

As a general rule, do not give your credit card number or other personal information over the phone. Be wary of companies that charge up-front fees and consider opting for a company that offers to sell for a fee only after the timeshare is sold. Try to do also your research before transacting business with any company and compare their offers to industry competition. Moreover, ask if the company’s salespeople are licensed to sell vacation properties where your timeshare is located. You can also verify this with the State Real Estate Agency licensee search.

Wednesday, September 1, 2010

Smartly Knowing Your RCI Timeshare Exchange Directory

The lack of flexibility is one issue that many timeshare owners have to deal with once they own such property. However, for some, they simply get out of their timeshare contracts once they decided that they want another vacation experience. But today, there are some timeshare exchange companies like RCI that address such issue. These companies facilitate the exchange of one timeshare to another and thus, owners can now have a new timeshare experience.

However, many timeshare owners look at their RCI timeshare exchange directory once a year usually just before they are ready to place an exchange request. It is recommended that you really get familiar with your RCI exchange directory long before that.

You should go through it before hand and not only star the resorts you like but also cross out the ones you do not want rather than picking it up the day you want to request your RCI timeshare exchange. This will help you in planning your RCI vacation. For example, if you want to exchange to an RCI resort on the beach. Some of the resorts listed may be blocked from the beach rather than right on it. Crossing them off now can save you the time of filtering through them when you want to exchange.

Below each RCI timeshare listing, there is a series of color coded, round symbols. That will quickly give you important information. Currently, there are currently 48 of these symbols in the RCI exchange directory that will give you an insight as to what amenities are in the unit itself, on site at the resort and nearby the resort.

On the other hand, some people look for criteria like on-site child care and organized children's activities. For others, it may be whether there is a casino or bar on site. Because of how the RCI timeshare exchange directory is formatted, you can tell all of this and more with a quick glance. Moreover, the RCI exchange directory is very nice so you may be hesitant to mark it. This will not only help you enormously in getting a better exchange but also able you to find the vacation experience that you want.

Tuesday, August 31, 2010

Social Media as a Smart Way to Connect with Timeshare Owners

With the number of owners trying to get out of their timeshares these days, timeshare companies have found a new way to better communicate with its clients. The timeshare industry is known for its marketing savvy and now, it is adopting social media strategies. While timeshare brands and associations have different approaches for their varying customers, most are using social media outlets to strengthen the bond with their most critical mass which are the current timeshare owners.

According to Howard Nusbaum, president and CEO of the American Resort Development Association, they’re trying to educate their members that viral and word-of-mouth marketing now has a huge megaphone. He added that this is an opportunity every day to ensure you’re igniting your fans and answering your detractors, and it’s almost as if comment cards are now in the public domain.

Meanwhile, that concept of “igniting fans” has plenty of marketing clout, according to Ed Kinney, VP of corporate affairs and brand awareness for Marriott Vacation Club. He said that they found that social media really isn’t a transactional marketing channel. Thus, we should back off from that and use it for other means, like service and awareness. Kinney further said that the Marriott team was keen to not turn people off with its social media strategies, which include Twitter and Facebook.

On the other hand, defining the social media space is different for different companies. Some use established channels like Facebook, Twitter and YouTube to monitor how owners perceive their vacation properties and spread the word that way. Others, such as Interval International, have created proprietary members-only sites to corral all forms of shareable online media.

Monday, August 30, 2010

Transfer Smart News: West Sands Resort Makes its Debut in the Timeshare Market

Getting out of a timeshare has been a common scenario for many holidaymakers today. But despite this along with the negative perception on such properties, there are still a number of timeshare of new timeshare resorts coming out every year. One of these is the Phuket’s West Sands resort which has partnered with Interval International to make its debut in the timeshare market.

The said property is tucked in 48 lush acres with its own 500 yards of private beachfront situated on Mai Khao Beach on Phuket’s favoured west coast. The studio, one-, and two-bedroom units range from 92 to 167 sqm. while the three-bedroom units measure 335 sqm. The residences also have been designed to have minimal impact on the environment and all features European-style kitchens and bathrooms, as well as balconies with views of the pool, gardens or the Andaman Sea. Moreover, owners and guests will have access to West Sands Water World which is one of the largest water parks in Asia with seven themed ‘worlds’.

According to Joe Hickman, Interval International’s Asia Pacific Executive Director, they are very pleased to have added West Sands Phuket Beach Club to their exchange network. He added that along with its high design standards, the eco-friendly development will contribute to preserving the environment and to more enjoyable and economic living.

Meanwhile, Barry King, Project Director of West Sands Vacation Club stated that Phuket is well established as a premier vacation destination and West Sands matches its natural beauty with all of the modern amenities essential to enjoying life to the fullest. Thus, choosing Interval as a partner matches its global experience in the field of vacation services with their local market and product knowledge. He stressed out that they are delighted that West Sands will be part of Interval’s network of quality vacation resorts.

Saturday, August 28, 2010

Transfer Smart News: Mahindra Holidays to Launch Three More Resort Brands

Although there are still a considerable number of owners trying to get out of their timeshares ever year, many timeshare companies these days are on their way to expansion. One of these is the Mahindra Holidays & Resorts India (MHRIL) which will launch three more resort brands to cover the entire gamut of leisure travelers across different age and income groups.

The said company is launching resorts in premium, uber-premium and budget categories. Under the uber-premium fractional ownership category, there are around 3,000-3,500 sq ft villas which will be built adjacent to Mahindra’s existing resorts. Under a timeshare perpetuity-basis, there will be around eight to 12 people who could own the villas for an upfront amount and a regular maintenance fee.

According to Ramesh Ramanathan, managing director of MHRIL, the first such gated community will come up at Coorg in Karnataka in the next financial year. He added that another premium resort brand is expected to come up this year and a budget vacation ownership brand will be launched within the next 18 months.

Under the flagship brand Club Mahindra, there are four resorts, with a total of 500 rooms which are under construction. Ramanathan further stated that these resorts are coming up in Tugi near Lonavala, Coorg, Ranthambore and Gir in Gujarat. The total investment on these projects will be Rs 250 crore which will be partly funded from the proceeds of the IPO and rest from internal accruals.

On the other hand, Club Mahindra is also planning to enter Sri Lanka and Malaysia. In Sri Lanka, it will either float a new company or enter a joint venture to set up vacation resorts. The company, which is part of Mahindra Homestays, will also tie up with more homestay operators to have a total of around 2,000 rooms within two years. At present, it collaborates with owners of 258 homes and has 738 rooms at 47 locations in 15 states.

Thursday, August 26, 2010

Smartly Beware of Timeshare and Holiday Frauds

Many people are falling victim to various types of holiday fraud these days. The common victims appeared to be those owners who are trying to get out of their timeshare contracts. But such fraudulent activities operate and prey on various consumers.

Timeshare fraud is considered a common type of holiday scam nowadays. Typically, the victim gets a phone call inviting to attend a free presentation to learn how to become a property millionaire from buying a timeshare. However, it ends up with a timeshare that either doesn’t exist or is far below the standards the owner will pay for.

The other scam is that the fraudsters offer to help you sell your existing timeshare. There are also double scams in which the fraudsters ask for upfront fees for legal services to help those who've already been the victims of other timeshare frauds.

Meanwhile, some holidaymakers fall victim to frauds involving non-existent holiday villas. They will take your money and it’s only once you get to your destination that you find the villa doesn’t exist. Much worst is that you’re then left in a foreign country without accommodation.

However, the authorities strongly advised to be aware of such activities. There are some simple rules to avoid such vacation frauds like be very wary of letters, phone calls or emails from companies that you don’t know offering you great deals out of the blue. Also, never make investments without thorough research. Moreover, never agree to anything on the spot. Take the documentation home and make sure a lawyer reads the contract before you sign it.

Wednesday, August 25, 2010

Smartly Knowing What Even the Best Timeshare Companies Are Not Telling You

These days, may be you already heard all the reasons why you should not buy a timeshare company. You might also have heard about the many owners who are trying to get out of their timeshares mainly because of the extra fees to the lack of flexibility. But today, even the best timeshare companies are still looked at under scrutiny.

Meanwhile, many timeshare resorts these days are involved in a scam. This include giving false promises to the consumers, adding fees which are not agreed upon, or even selling a unit which is not yet finish constructing. However, the best timeshare companies will still charge you annual fees and maintenance fees for maintaining your property when it is not in use. Several timeshare properties are also outdated and will require several repairs throughout the years. Such maintenance will result in more money out of pocket for you.

On the other hand, timeshares are very difficult to rent for a profit and even harder to sell. Take note that most timeshares that are rented cannot even be rented for the amount you will be paying in the maintenance and annual fees. Timeshares are also very difficult to sell because of the extra costs associated with owning one of them.

Timeshares are notorious for passing along extra charges and fees to their customers. Changing your vacation date or time typically requires a fee. If you do not use your vacation time one year, it might result to losing it and might even incur a fee for not using the property. Thus, if you are still looking for ways you and your family can enjoy your yearly vacations, it is better to op for other alternatives that are budget-friendly.

Tuesday, August 24, 2010

Transfer Smart News: Study Claims Many Saudis Regret Purchasing Timeshares

It is a well-known fact today that many owners want to get out of their timeshare contracts after using such properties after a couple of years. According to a survey, in Riyadh, the vast majority of Saudis who own timeshares regret purchasing them.

The study was conducted by the Riyadh Center for Information and Consultancy Studies. It claims that 85% of those surveyed wish they had never entered into such an agreement. It also says that nearly 78% of owners view their involvement in the industry as evil. Moreover, the survey revealed that nearly 85% of Saudis who invested in a timeshare agreement are men while 81% are married.

These days, there has been a growing demand for such properties among the younger generation. In fact, 47% of timeshare owners are aged between 30 and 40 compared to 13% for the 40 to 50 age bracket and 10.5% for over 50s. The study also revealed that over 60% of them are also university graduates.

Meanwhile, a timeshare is the name given to a piece of real estate owned by a number of individuals. These are typically holiday resort units and each sharer is allocated a period of time, usually around one week to use the property. Timeshare agreements may also be drawn up on a part-ownership or lease basis where the sharer holds no claim to the ownership of the property.

On the other hand, estate agents dealing in timeshare properties mainly target those with a high monthly income to improve their chances of receiving a higher commission. However, as the study showed, this was not the case with Saudi timeshare owners. Only eight percent of them had a monthly salary of between SR15,000 and SR20,000. About 31.5 % of owners earned between SR10,000 and SR15,000 while 18% were on less than SR5,000. This means that even people with a limited income set aside a part of their savings for their vacation expenses as the study claimed.

Transfer Smart News: McCollum Reaches Settlement against a Timeshare Resale Company

One of the most common scams these days involved conning owners who are trying to get out of their timeshare contracts. Thus, there is an increasing number of complaints filed at Attorney general’s Office every year. Recently, Florida Attorney General Bill McCollum announced that he has reached a $110,000 settlement with a Palm Beach County timeshare business that allegedly engaged in unfair and deceptive trade practices.

The TS Luxury Group and its owner, Mary Filocomo, allegedly offered timeshare resale advertising services to US and Canadian consumers. According to a lawsuit brought against the company, it alleged that it enticed people into using its timeshare resale services by misrepresenting that it had procured interested or actual buyers for the consumers' timeshares.

Just like the common scams that involved resale companies, the TS Luxury Group also allegedly collected upfront fees for its services and issued contracts that were different than what was agreed to orally between consumers and company representatives.

However, a number of victims filed complaints against TS Luxury Group and AG McCollum had already reached its decision. In addition to agreeing to permanently dissolve its operations, the company must also pay any additional claims from consumers who file complaints with the attorney general's office in the next 90 days. On the other hand, Filocomo and the company cooperated fully with McCollum and have already begun reimbursing consumers. Moreover, consumers especially the owners who are trying to get rid of their timeshares have been constantly warned by Attorney General’s office against the unfair resale practices these days.

Friday, August 20, 2010

Transfer Smart News: Timeshare Operator Run Afoul with Labor law

In Orlando, Florida, we typically hear stories about timeshare companies conning owners who are trying to get out of their timeshare contracts. But recently, there’s another twist to such stories which still involved a timeshare company. An operator of a timeshare ran afoul with federal regulators and Florida labor law, and must compensate their so-called off-property consultants of nearly $1 million in lost wages and overtime. The Florida employment issue came to light primarily as the result of a routine labor audit.

The errors impacted more than a thousand employees at Central Florida Investments. This is a timeshare operator which is based in Orlando that does business as Westgate Resorts. According to Westgate, the audit revealed that 1,065 off-property consultants were paid at a rate falling below the federal minimum wage for some of their hours worked. It also revealed that premium compensation paid to workers did not include commissions, and overtime was not properly computed.

As Mark Waltrip, Westgate's chief operating officer said, what they discovered is there was a discrepancy in how they were calculating overtime for certain marketing personnel and it wasn't anything intentional. Meanwhile, there were no criminal charges or fines to be assessed against the company.

On the other hand, Waltrip credited the US Department of Labor (DOL) with helping to bring the discrepancies to light and stressed that the government agency did not find any intentional wrongdoing. However, several timeshare operator's employees have filed lawsuits in an attempt to collect overtime pay they are owed. As a result, the DOL indicates that Westgate will have to correct the errors, extend back payments to those affected and implement new procedures for record-keeping.

Thursday, August 19, 2010

Factors to Think about When Selling Your Timeshare Smartly

With the current economic uncertainty, almost everyone is affected in a single way or an additional. And for those who are possessing timeshares, they may be thinking of getting out of their timeshare contracts. Of course, the best way would be to sell it to recover some costs. But when it comes to marketing timeshares, there are a number of factors to think about.

One particular way to sell a timeshare is to outsource the sales procedure and have somebody do it to suit your needs. But if the cashflow is the priority then this might not be the most effective selection as this typically involved additional cost. You will then discover other, cheaper alternatives likewise.

Meanwhile, one option is to have a private sale instead. Naturally, this has its own pros and cons. Unlike having a broker or firm to do it for you, you may have to perform much regarding setup yourself. This will consists of designing the copy for ads, figuring out exactly where you need to have them (both on and offline)and likewise keeping track of each ad’s performance and ensuring that you just do not go over your marketing budget.

If the previous option might sound like lots of work, you might have to procure the services of the broker. This will indicate though that the sale price of vacation property must be increased so as to pay for the invoice you will get or to pay for the commission charged on the sale. Some factors to become aware of whenever you sell your timeshare is that you’ll find that some brokers out there insist on their fee upfront. You could possibly be happy paying a portion just to have moving but paying the full fee may possibly be anything you balk at.

Wednesday, August 18, 2010

Transfer Smart News: CASE releases Consumer Advisory against a Timeshare Firm

As timeshare ownership is getting more popular vacationing option every year, there are also increasing complaints regarding timeshares. For some owners, they just try to get out of their timeshares because of the disadvantages that they are complaining. But recently, the Consumers Association of Singapore (CASE) red-flagged Worldex Pte Ltd as the organization received 137 complaints against the timeshare company’s doubtful service.

According to the list of complaints, Worldex’s questionable practices include purchasing timeshare contracts from clients who have to wait 30 to 60 years to receive their payout plus profit. Customers were also have to pay hundreds of dollars in consultation fees when they attend presentation’s at the Worldex office, which are completely separate from the membership fee.

Meanwhile, others have complained of the company’s supposedly inexpensive holiday offers. Customers are asked to invest S$10,000 to avail of Worldex’s steeply discounted rates for luxury holidays and 5-star accommodations. However, the rates turned out to be not as cheap as promised, and there were still many lower-priced alternatives.

Such complaints have prompted CASE to release a consumer advisory against Worldex. Mr. Seng Choon, executive director of CASE, has already warned that they will pursue legal action should the organization receive more complaints.
On the other hand, Choon warned timeshare investors to be wary of businesses offering to buy their timeshare memberships.

Such companies have consistently been the main source of complaints received by the organization. In the past year alone, it received more than 2,500 complaints. Moreover, more timeshare companies in Singapore are luring customers with offers of buying their timeshare contracts for a substantial fee. Such cases have gone up tenfold since they began surfacing in 2003, and now, they make up more than 25% of timeshare complaints.

Tuesday, August 17, 2010

Smart Options for an Unwanted Timeshare

Timeshares are known as properties that can be passed down to the owner’s children or heirs. As it turned out, many heirs don’t like such idea as they shoulder the costs associated with it. Thus, many of them want to get out of these timeshare contracts. To recover some expenses, they try to sell it first before any other option. The question now is, what is the best way to sell it?

As we all know, timeshares are very difficult to sell, particularly at a decent price like something close to what was paid for it. Usually, the price that you sell it for is generally about the same that you would have to pay in annual maintenance charges. So, essentially you're just giving it away. In fact, one of the problems in trying to sell your unit is that there are many unsold new properties on the market and timeshare sales have suffered significantly from the recession.

Meanwhile, the market nowadays is full of timeshare resale scams. However, you can try to search on the internet and get a look at all of the good deals that are offered that seemingly make it easy to sell and at a good price. Most of these ads will require you to give the sales company a down payment of several hundreds of dollars for them to list it. And as the scam cases reported, you never hear from the company again.

You can also get some compensation out of your unit by donating it to a charity. Most of time, you can probably deduct the cost from your income tax. You could donate it just once a year for a raffle or charity auction, or you can donate it permanently.

Moreover, you can market your timeshare as a rental property. Maybe, some of your friends might be interested in renting the property for the week or two that you own it. With this, at least you'd get enough money out of the rental to pay for the annual upkeep fee. Timeshare properties are nice to stay in and a good to vacation. But remember that you can often rent them rather than own.

Smart Ways to Identify if a Timeshare or Travel Club is Legitimate or Not

Nowadays, everywhere you turn, someone is trying to sell you something. Some of the products that are sold with high-pressure tactics are timeshares and travel club memberships. With many owners today who want to get out of their timeshare contracts, the sales pitch entice you that spending some money with them now will save you lots more later. However, it isn't easy to separate honest over-the-top sales pitches from the outright scams. Meanwhile, travel clubs are also among the most problematic opportunities dangled in front of you.

The question is how can you tell if this travel club offer is legitimate or not. The problem club operations are those that ask for big bucks in up-front membership fees on the promise that members will get great deals in the future. Among these are the more benign subset consists mainly of timeshare promotions in disguise, presumably, to avoid the timeshare label, widely viewed as flawed.

All too often, law enforcement officials warned that the promised discounts and savings never materialize. The promoters provide prices that are no better than travelers can buy openly, through a wide range of discount sources, and the promised dream vacations never seem to become available.

Meanwhile, some very high-end vacation clubs actually own a string of vacation properties. That is, members share in the ownership of these properties, and the club operator agrees to repurchase for a reasonable price. Most mass-market timeshares, however, offer no asset value to back up your initial investment. At best, you own your membership and can sell it or pass it along to your heirs. However, some timeshare deals are for the term of your life only and will revert to the owner on your death.

On the other hand, beyond the resort aspects, challenge all claimed discount deals and don't be gullible. Try to ask about the specifics of a few available discount deals, and check them out before you accept any broad claim of great prices. Also, try to google the promotion or vacation club and check with a few of the gripe sites to see if the operation has generated any serious complaints or, even worse, law enforcement actions.

Saturday, August 14, 2010

Transfer Smart News: Timeshare Resale Firm Announces its New Services

With the many owners trying to get out of their timeshare contracts, resale companies are also flourishing. Such companies will do the transactions for the owner in order to sell its timeshares. One of these companies is Sell My Timeshare NOW which is considered a global leader in timeshare resales and rentals. Recently, it announces that the company is expanding its services, introducing important new options for timeshare owners.

According to Jason Tremblay, the company's founder and CEO, says, timeshare owners want and need choices in how they resell their timeshares. In addition to the owner-advertising option, they are expanding their timeshare brokerage service capabilities and will begin presenting those services as an additional option when sellers contact them.

As part of the new business model, Sell My Timeshare NOW is transitioning to a sales team almost exclusively comprising of licensed real estate professionals. The company is serious about de-emphasizing that timeshare advertising is its primary product. It has been conducting in-house training at the corporate offices in Dover, New Hampshire in order to help prepare employees for the required testing they will face in obtaining state real estate licenses. Tremblay added that he sees this as investing in the company by investing in its employees, and that SellMyTimeshareNOW will also be looking to hire additional licensed real estate professionals for its Orlando, Florida offices.

Sell My Timeshare NOW offers by-owner timeshare advertising which is sold by trained timeshare sales professionals. Its affiliate Timeshare Broker Services, on the other hand, offers a full range of professional real estate services. In 2009 alone, the company's websites generated 61,743 offers to buy timeshare resales and 85,949 offers to rent timeshares. Meanwhile, consumers who want to get rid of their timeshares by reselling it through Sell My Timeshare NOW, they must pay a one-time advertising fee for sale-by-owner advertising and marketing that the company provides through its highly visible, well-positioned websites. The owner's timeshare ad remains on the company's websites, continuing to be marketed until it sells.

Friday, August 13, 2010

Transfer Smart News: TATOC Launches Sharetime Website to Reach More Timeshare Owners

With the many owners trying to get out of their timeshare contracts along with its number of predicaments, some associations were formed to represent its interests. The TATOC or the Timeshare Association is one of these and was formed in 1989. It is the only elected consumer association representing the interests of timeshare owners in Europe. Recently, TATOC announced that its magazine Sharetime will be available to all timeshare owners through a new dedicated website, sharetimemagazine.com. In the future, the quarterly magazine will be in digital format only.

Previously, Sharetime was only printed and distributed to just its member resorts. Now, it will be available to all timeshare owners through the dedicated website, sharetimemagazine.com. Both the Sharetime website and the magazine will contain news, features and articles of interest of today’s timeshare owner and owner committees representing resorts in the UK and Europe. The next issue of Sharetime is set to be published this September.

Meanwhile, TATOC represents over 80 resorts throughout Europe and has access to over 250,000 timeshare owners. The aim of this magazine is to provide a positive image of the industry to both timeshare owners and the general public. On the other hand, Sharetime magazine will support the efforts of TATOC to promote timeshare, protect consumers from scammers and to secure the future of a legitimate industry for its members to continue to enjoy. The new digital format will allow this message to be spread even further.

According to Harry Taylor, TATOC CEO, they want to ensure that TATOCs message reaches as many timeshare owners as possible and the new digital version of Sharetime and the site itself will help us achieve this. The launch of the new Sharetime website and online magazine has created a number of advertising and promotional opportunities for businesses and vacation resorts.

Tuesday, August 10, 2010

Transfer Smart News: US Timeshare Resale Company Acquires Canadian Resale Firm

With the number of owners who are trying to get out of their timeshare contracts increasing every year, there is an apparent for timeshare resale companies. Meanwhile, deciding which resale company to work with does matter. Recently, SellMyTimeshareNow.com, considered one of the world’s largest and most respected online timeshare resale and rental marketing organizations, has recently announced the acquisition of the primary asset as well as the customers of Canada’s leading timeshare reseller, RapidResale.ca.

According to Jason Tremblay, CEO of SellMyTimeshareNow.com, during the recent months, RapidResale founder April Cummins has become more involved in sales and marketing efforts for Canadian developers and sought a company to whom she could entrust her resale business, one that would take over the management of the existing website and the servicing of its customers. Due to their high level of success and national recognition, April asked if they would be willing to acquire this segment of her business to ensure a high level of continuing service for her customers.

Tremblay added that the six-year-old RapidResale website is already a highly trusted, well-optimized, perfectly positioned site that ranks extremely well with Canadian search engines. They are excited about the acquisition since it will provide their web-based company opportunities to further expand their presence in Canada. Links on their website will lead potential renters and buyers to the Canadian site, benefiting everyone involved. Their ultimate plan is for all of their sellers’ properties to be displayed on all of their websites including RapidResale.ca.

Founded in 2004, the RapidResale.ca is the domain name for Secondary Solutions Group which is an Ontario-based Canadian timeshare resales leader with a solid reputation for success and its growth into a multi-million dollar organization. The company also provides sales and marketing solutions to developers of shared-use vacation properties. On the other hand, SellMyTimeshareNow.com is recognized as a global leader in online timeshare resale and rental marketing, with over $427 million in offers through its websites in 2009.

Transfer Smart News: Timeshare Industry Gives Refunds to Federal Allegations

Today, there are numerous complaints in the timeshare industry and thus, many owners want to get out of their timeshare contracts. But in Broward County, Florida and across the country, owners will soon split $562,000. This is an amount equal to the illegal contributions collected by the political fundraising arm of the US vacation industry from 2003-2007.

The said payout is a part of a deal between the industry and the Federal Election Commission to settle civil allegations of wrongdoing in the solicitation and distribution of millions of dollars in political contributions. The American Resort Development Association - Resort Owners Coalition PAC will also pay a $300,000 civil penalty. This is the largest fine imposed by the FEC since 2007.

According to ARDA, the errors were made in the collection of contributions but called them unintentional and unfortunate. ARDA's Washington attorney Mark Braden said that ARDA has taken proactive steps to suspend any improper practices and rectify past errors in an open and transparent way.

Meanwhile, the sale of vacation timeshares is a $10 billion-a-year business, with a large footprint in South Florida. In 2008 alone, 4.7 million households owned one or more weekly interval or points-equivalent timeshare properties as cited in ARDA's website. Moreover, Florida has more timeshare resorts than any other state.

ARDA is the industry's Washington-based trade association and also a major lobbying force on Capitol Hill and in Tallahassee. As shown by Federal records, since 2006, ARDA has spent more than $1.1 million on Washington lobbyists to oppose such things as mortgage reform legislation, including the expansion of truth-in-lending requirements to timeshare buyers.

Meanwhile, ARDA-ROC PAC has contributed hundreds of thousands of dollars to Republicans and Democrats and nearly all that political money came from tens of thousands of timeshare owners who paid them in small amounts to their property management companies as part of their regular bills. In 2008, the FEC disclosed that timeshare owners had been misled into donating to ARDA-ROC PAC while paying their regular vacation property fees. Political contributions are voluntary, and federal law requires solicitations to make that clear. At least three of ARDA-ROC PAC's solicitations lacked that information.

Sunday, August 8, 2010

Transfer Smart News: Bluegreen Corp. Shows a Boost in its Timeshare Sales

Although there are still a number of owners who are trying to get out of their timeshare contracts, the recovering economy is making it a favorable condition for this industry. The timeshare business is already showing a sales boost this year. One of these companies is the Bluegreen Corp which although the earnings were off 37% in the second quarter, it sales of its timeshare resorts expanded.

The Boca Raton-based company had a net income of $4.3 million, or 14 cents a share, on revenue of $107.4 million. In the same period last year, it posted a net income of $6.8 million, or 22 cents a share, on revenue of $90.1 million. The results in the second quarter of the year 2009 included a one-time tax benefit of $4.6 million.

The bulk of Bluegreen’s revenue growth came in sales of timeshare resorts, which increased 33% quarter-over-quarter. Bluegreen had 40 timeshare resorts and hotels under management as of June 30, which is up by three from a year ago. However, the sales of homes in Bluegreen Communities declined and made up a relatively small portion of the company’s revenue.

The company held $744.6 million in outstanding loans to Bluegreen timeshare buyers and as of June 30, 3.8% of that was past due by more than 30 days. As for its own debt, Bluegreen said it had two receivable loans that are set to expire near the end of August. Meanwhile, it is talking to lenders about renewing or extending those loans. The company also had $40.5 million of receivable-backed loans outstanding as of June 30 and $63.6 million in unrestricted cash. This year, businesses about vacation properties like timeshares shows a great improvement compared to the previous year. Bluegreen Corp. is one of those companies that shows an improvement in their timeshare resorts’ sales.

Thursday, August 5, 2010

Smart Ways to Sell Your UK Timeshare Property

The UK is considered a popular location for timeshare holders nowadays. Places like London, Kent, Balcombe, Lancaster, Bournemouth, Bradford-on-Avon, Norwich, Callington and Canterbury are especially sought after by many holidaymakers. But no matter how great a location is, many people today are in need to minimize their expenses. One of these is to get out of their timeshare contracts.

Timeshare costs and charges can build up over time and become a heavy load for many owners. These charges are probably one of the most common reasons why owners want to sell their timeshare property in the UK today. But when it comes to selling a timeshare, owners should be aware of a number of things to successfully close a deal.

First, watch for hidden fees when you sell your timeshare especially when working it out with reselling company. Make sure you have a clear understanding about the actual costs and charges you will be responsible for. Make sure also that that reselling company has a good reputation. There are many scams nowadays and you should be aware of it.

One of the best ways to check out the company is to go into Google.com and type in the name of the company you’re dealing with and the word scam. This will typically bring you a few discussions on the subject. You will be able to quickly determine whether there have been a lot of complaints or not. Discussion forums are also a great place to find this information. If however you see several complaints then, be very wary about conducting any business with that company. Moreover, choosing to sell a vacation property such as timeshares can be a big decision and you should practice your due diligence in order to avoid scams.

Wednesday, August 4, 2010

Knowing Smartly the Timeshare Financing Options

Although there are several owners who are trying to get out of their timeshare contracts these days, many holidaymakers are into timeshare ownership as a way to vacation. Meanwhile, some people opt for loans to pay for such purchase. And once a timeshare is financed, they can opt for refinancing. Refinancing refers to the replacement of an existing debt obligation by another debt obligation of different stipulations. Be warned though that there are also risks involved with this. This article presents some insights into the common timeshare refinancing options.

First, check your personal credit report as a bad credit usually results to a higher interest rate to refinance a timeshare. You may also order a copy of your credit report before contacting a lender. Your aim here is to get as lowest rate as possible.

You may also contact a timeshare refinancing company. Today, several companies specialize in timeshare refinances wherein you can obtain a better interest rate or extend your loan term. Look at 3 to 4 different companies and request a no-obligation quote.

Another option is to refinance the loan with a bank or credit union. Banks and credit unions typically offer the lowest interest rate on timeshares. You may purchase the timeshare with in-house financing first and then refinance it at a later date.

Moreover, you can apply for a home equity loan or cash-out mortgage refinancing for your timeshare. You'll then receive a lump sum of cash which can pay off the timeshare loan since home equity loans and mortgage refinances have lower rates, you'll then save money.

On the other hand, the best option when purchasing a vacation property such as timeshares is still to pay through cash. But for those who are interested in buying a timeshare can also use the above-mentioned options to obtain funds for the purchase. As refinancing a timeshare is considered a risky option, any potential owner must look at the details of these options in any aspect before jumping to any deal.

Tuesday, August 3, 2010

Transfer Smart News: Accor Vacation Club Standout during the ATHOC Awards

Recently, the Timeshare Industry held its 19th annual National Industry Awards designed to recognize the best of the best in each Member Company’s employees and Accor Vacation Club was the standout performer, taking five of the night’s major awards for Marketing, Innovation and Sales Team amongst others. Although many owners are trying to get out of their timeshare contracts these days, this vacation club still get a 2800+ members this year.

According to Craig Wood, CEO of Accor Vacation Club, their business has proven its resilience over the last 12 months. Having a quality product offering exceptional value for money always gives you an advantage in any market conditions, but without doubt their success can be attributed to the individual and team efforts their members of staff have made over the past year.

Wood added that all of Accor Vacation Club’s employees have been pushing for excellence in 2009/2010 to achieve their goals that then reflect back positively to their 28,000+ Members. This is constantly reinforced by the positive feedback and comments that they receive from their satisfied member base. Wood further stated that that awards are recognition of the hard work and effort provided by all of the team at Accor Vacation Club and the support that they receive from their parent company ACCOR.

Accor’s commitment to their members is to provide a world-class service, and these awards recognize their commitment in employee development to achieve this objective. Wood congratulates all their Accor Management and staff who are extended to these new industry ambassadors of Accor Vacation Club.

Monday, August 2, 2010

Transfer Smart News: Wyndham Cites Revenue Boost in Timeshare Business

Although many owners are trying to get out of their timeshare contracts these days, a number of timeshare companies are already showing revenue boosts as the economy is on its way to full recovery. One of these companies is the Wyndham Worldwide Corp which recently lifted its 2010 outlook, citing increasing strength in its lodging, timeshare and vacation exchange businesses, and its shares shot up as much as 10.1 percent.

The company, which franchises hotels under the Days Inn, Ramada and Super 8 brands, stated that it also is benefiting from a revised tax structure this year. This year, it forecasts full-year earnings per share of $1.78 to $1.88. This beat out analysts' expectations of $1.68.

Meanwhile, the full-year revenue is projected to fall between $3.7 billion and $4 billion. Analysts on the other hand had forecast $3.8 billion. According to Chief Executive Stephen Holmes, each one of their businesses was ahead of their expectations, and they felt that momentum would help them through the rest of the year.

Wyndham's timeshare segment makes up about half of its overall annual revenue. Vacation exchange and rentals make up 31% while lodging makes up almost 20%. The bulk of Wyndham's more than 7,100 hotels fall into the low-cost or economy segment which typically do not see the dramatic swings in room rates and occupancy that luxury and upscale hotels tend to experience.

Although there are a number of owners trying to get rid of their timeshares, Wyndham's domestic revenue per available room or revpar, rose in June and it continue during the first three weeks of July. As Holmes said, they're seeing a strengthening and some momentum building and they have continually said the recovery will be gradual. Wyndham predicts revpar will rise as much as 3% in 2010, compared with the previous projection of flat to down 3%.

Saturday, July 31, 2010

Transfer Smart News: Cape Cod Timeshare Owners Accuse a Local Developer of a Scam

For those owners who are trying to get out of their timeshares, one of their main reasons of doing so is due to the costs involved in it. However, some scammers use this as a scare tactic to prey on the unsuspecting victims. Recently, the members of a timeshare resort on Cape Cod are accusing a local developer of muscling in on their treasured vacation spot and bringing in slick out-of-state marketers to con them out of their property deeds.

The developer is Cliff Hagberg who took over the Sandcastle Resort in Provincetown two years ago when everyone agrees the timeshare had gone to seed. According to Hagberg, he's done right by the roughly 4,000 timeshare owners at the resort and he's overseen more than $1 million in repairs to the resort, which included new decks, landscaping and a poolside snack bar. He furher stated that they've literally gone room by room throughout the entire resort and have a detailed list of what each room needs. Moreover, he said that the idea is not to turn the Sandcastle into a Marriott, the idea is to make it the best Sandcastle that it can be. As far as I can tell, there's only good news at the Sandcastle.

Meanwhile, timeshare owners accuse Hagberg and his out-of-state partners of seizing control of the resort and then pressuring people to swap their deeds for membership in another timeshare. As one owners said, if they refused that deal, they were told they would be stuck paying the high cost of renovating the Sandcastle.

There are 49 timeshare owners at the Sandcastle who have filed complaints with the Attorney General's office. They claim Hagberg and representatives of a Texas company called Outfield Marketing of using scare tactics on the owners, convincing many of them that the only way to avoid a financial nightmare with such vacation property was to give up their deeds and pay more than three thousand dollars to join a national timeshare company called Festiva Resorts.

Thursday, July 29, 2010

Transfer Smart News: Feds Charge 3 Men in Illinois for Timeshare Fraud

There is a growing scam nowadays telling blatant lies on the phone to those owners who are desperate to get out of their timeshare contracts. Recently, some national heat is coming down about such fraud on three Palm Beach County pitchers. The federal grand jurors in East St. Louis, Illinois, indicted Darnell Disroe, 38, and Michael Lentine, 32, of Boynton Beach and Michael Starace, 42, of Lantana. Meanwhile, Boynton Beach police and US postal inspectors cooperated in an investigation that found more than 600 victims were bilked for more than $1.3 million in 46 states and Canada.

According to an unsealed indictment, Real Timeshare Marketing asked timeshare condo owners to pay thousands of dollars for costs associated with phony pending sales. Despite collecting $1.3 million in fees between Dec. 1 and April 28, the company was not instrumental in selling a single timeshare interest, as the federal officials said.

Similar cases also have become the top complaint to a state fraud hot line, surpassing mortgage scams, and involving more than 10,000 complaints against scores of companies. Palm Beach County has been a hotbed for the business with 10 of 17 companies subpoenaed by the Florida Attorney General's Office in March based in the county. Fines, settlements and pending civil charges at the state and local level have also addressed some of the complaints.

Currently, the federal authorities are pursuing charges of mail fraud and other offenses that carry up to 25 years in prison or fines up to $250,000 per count. Among others, an Illinois customer paid $1,886 after an agent for Real Timeshare Marketing promised someone wanted to buy the customer's timeshare interest for more than $20,000. But the sale of such vacation property never happened, as authorities said. The US Attorney's Office for the Southern District of Illinois has recently announced the charges.


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