Transfer Smart News: Awareness on Timesharing Still Growing

Primarily, the concept of timesharing was born due to its ability to cut vacation costs and make it affordable for the average consumers. However, this is not the case today. Many owners nowadays are having difficulties coping up with those annual fees and thus, want to get out of their timeshare contracts. Upon weighing this type of vacationing, there are a number of advantages and disadvantages that you can possibly cite. But what is clear today is that timesharing have become a trend and is gaining popularity for many people. As a matter of fact, a new survey has found that awareness of the different forms of timesharing continues to grow among Americans despite the difficult economic conditions.

The Ypartnership 2009 National Leisure Travel Monitor, who conducted the poll have found out that nine out of 10 travellers are now familiar with the concept of timesharing. According to Peter C. Yesawich, chairman of Ypartnership, the study's results reaffirm the inherent appeal of vacation ownership as both a desirable alternative to conventional lodging and a terrific value relative to its cost. The survey also revealed that the American travellers continue to view timesharing as a desirable alternative to conventional vacation accommodations such as traditional hotels and resorts while 15% reported owning vacation time.

Since the economic downturn broke out in the late of 1997, the timeshare industry is reaping a negative image from most consumers. The recent crisis also made most owners want to get rid of their timeshares due to increasing fees. Some of these owners even hire a timeshare transfer company such as the Transfer Smart just to get rid of such property. But despite these, timesharing is still viewed by many as a great to vacation. And given preferable economic conditions, many consumers would still opt for this form of vacationing.

Pondering Smartly the Negative Effects of the Changes in Timeshare Industry

Currently, almost everyone is already warned or aware of the disadvantages of owning a timeshare. Seeing cases of owners who are trying to get out from their timeshares is enough for a warning for most consumers. However, as the timeshare industry is considered very dynamic, there are changes every now and then. What’s frustrating is that these changes made things very difficult for timeshare owners.

Today, many timeshare owners have been frustrated with the results of their timeshare ownership. A lot has already changed in the industry since the day of their purchase. If before, timeshares sound like an investment today it is not the case at all as such property is very hard it is to sell contrary to what their salesperson had told them before.

Another big change in this industry is the availability of travel through other means. With the advent of the internet, a lot have changed in the travel industry. It was said that one had to be a timeshare owner to be able to stay at a timeshare resort. Today, that is no longer true. Alternatives for this includes renting, vacation club membership or even through trial vacations.

One important change to consider when buying a timeshare that can be discouraging to any consumer is the maintenance fees. Owners are billed every year for their yearly dues. These fees generally increase tremendously every year. These ever-increasing bills continue to rise for most resorts until the owners pay beyond its worth.

Nowadays, many owners want to get rid of their timeshares. Some of these owners even hire a timeshare transfer company such as the Transfer Smart just to get rid of such property. By citing the changes in the timeshare industry, it might help inform the owners or potential owners about the possible effects of these in their ownership.

Rating a Timeshare Resort Smartly

Timeshares can be a significant purchase for many people. In many cases, a timeshare resort can exceed your expectations. On the other hand, they may fall short of standards that made the owners want to get out from their timeshare contracts. By rating a timeshare resort smartly, you can inform the other prospective buyers which resorts to go for, and which must be avoided.

You may begin by making a list of what you expect from your timeshare based on the materials you have read. By clearly defining your expectations, it will help rate this timeshare later. If something pops into your head as you visit your timeshare, scratch it down in your list. Then, review your list. As you drive home, consult your family and friends who were on the trip and determine what met their expectations, what impressed them and what disappointed them. Lastly, you can use your notes to rate your timeshare resort. Your rating can be a scale of one to five stars or a scale of one to 10.

Each timeshare have each its pros and cons. But as what it appears these days, the disadvantages outnumber the advantages in owning a timeshare especially in this down economy. As a result, many owners want to get rid of their timeshares. Some even hire a timeshare transfer company such as the Transfer Smart just to get rid of such property. But by rating your timeshare, you can warn and inform other potential owners that might be your friends, family members or anyone that you encounter along the way regarding the ups and downs of your timeshare resort. In this way, you can help them optimize if ever they’ll buy a unit in the same timeshare resort as yours.

Transfer Smart News: Increasing Foreclosures in Texas Includes Mostly Timeshares

Currently in US, the state of Texas ranked 24th in the nation in foreclosures. This is up slightly by more than 2 percent from October, when the state ranked 28th. Locally, there are 10 home and 15 vacant lot foreclosures which were reported for November in Comal County. This also includes timeshares as evident by those owners who fail to pay and thus want to get out of their timeshares. In the said county, there are 47 foreclosures on timeshares.

The above-mentioned figures are higher than it was a month ago and it is nowhere near the highs recorded this summer. Meanwhile, Nevada, Florida and California have the highest foreclosure rates for the country. Of these, Nevada leads the nation, with one in every 119 housing units receiving a foreclosure filing.

On the other hand, according to RealtyTrac, Inc., the states of California, Florida, Illinois and Michigan accounted for more than 50 percent of the national total. In the case of Comal County, the increase in overall activity was caused by the high number of timeshare foreclosures. As Curtis Koehler of the Comal Appraisal District said, the numbers are high every month and they have people come to their office every month because of timeshares.

One of the most common questions about timeshares is what will happen if you stop paying the maintenance fee? This is usually asked by owners who are having difficulty keeping up with their timeshares. The consequence of that is timeshare companies will foreclose on your timeshare and this will wind up on your credit report. That’s why many owners want to get rid of their timeshares properly by hiring a credible timeshare transfer company such as the Transfer Smart. In this way, they can legally exit from their timeshares without hurting their credit reports.

Transfer Smart News: Marriott Says Timeshare Sales 2009 will be Slightly Better

The recent economic meltdown had a drastic effect on every business including the timeshare industry. This did not only make several owners want to get out of their timeshare units but also make most consumers to resist in owning such property. But as most countries are on their way to economic recovery, there is still a light at the end of the tunnel for the timeshare industry.

The said recovery is evident as Marriott International, Inc., a worldwide operator and franchisor of a broad portfolio of hotels and related lodging facilities said that it expects to add approximately 38,000 rooms to its worldwide lodging system in 2009 thereby raising its guidance of 33,000 gross room additions for 2009 provided in its third quarter earnings.

The company also said that the systemwide revenue per available room (REVPAR) outside North America for the fourth quarter of 2009 should decline 14 to 16 percent. On October 8, the company have provided guidance of a 16 to 18 percent REVPAR decline for the fourth quarter of 2009 year-over-year for comparable systemwide hotels outside North America on a constant dollar basis. Also, a 13 to 16 percent REVPAR decline for comparable systemwide hotels in North America.

For its timeshare business, Marriott expects the contract sales of timeshare intervals in the fourth quarter of 2009 to be slightly better than the guidance of $185 million to $190 million the company provided on October 8. On the other hand, the successful completion of a note sale securitization during the current fourth quarter, with $37 million gain should enable Marriott's timeshare segment to outperform its expectations.

Currently, despite the number of owners who are trying to get rid of their timeshares while some even hire a timeshare transfer company such as the Transfer Smart, there are already signs that shows that the timeshare industry is on its way to recovery.

Transfer Smart News: Chinese Travellers Warned of Timeshare Frauds

Nowadays, timeshare scams did not only gain the attention of people from top vacationing countries like US and UK but also to the other parts of the world. In China, Beijing citizens looking to travel abroad during this holiday season are being warned by local government to be cautious of timeshare vacation offers. Although timeshares become unattractive due to scams and many owners try to get out of their timeshare contracts, there are still many potential consumers including the Chinese citizens who will be interested in this form of vacation package.

According to Liu Dazhong, head of the consumer rights protection department of the administration, consumers might be cheated by lucrative promotions like 'traveling around the world' or 'buying timeshare services as an investment.' He added that sometimes timeshare companies boast that consumers can purchase the rights to use a hotel resort for 20 years, but then disappear with the cash. Liu stressed out he wants to slow the growing number of consumers being cheated by scams with elderly people emerging as the largest target group.

As part of the administration's month-long campaign to warn consumers about timeshare scams that was launched last weekend, as many as 260 notice boards were set up in busy shopping malls like SOHO Shangdu and The Place.

The concept of timesharing was quickly adopted by developers worldwide. While many were lured into this form of vacationing, many owners are also having difficulties with their timeshares due to its number of disadvantages. As a result, these owners want to get rid of their timeshares while some even hire a timeshare transfer company such as the Transfer Smart. Unlike the timeshare industry in countries like US which is now mature, the Chinese market continues to lack regulation and its consumers must be warned to fall trap into these frauds.

Smart Timeshare Professional Criticizes the Industry for Inadequate Information to Owners

Timeshare ownership is considered a major decision that needs careful evaluation before its purchase. Recently, a 20-year industry professional Dr. Peter J. Shield PhD, ARP criticized the timeshare industry for not adequately educating their owners on the benefits and the liability associated with the purchase of their products. As we can see these days, there are numerous owners who have difficulties paying with their timeshares due to inadequate information with its advantages and disadvantages as well. As much as these owners want to get out of their timeshares, they can’t do so as they have already fallen into the so-called timeshare trap.

In his new book "Timeshare....you bought What?" Dr. Shield explains the many options available to an owner who may wish to sell or rent their unused membership. Those planning or involved in a career in the industry will also get a better understanding of the product they are selling from Peter’s 20 years experience in the industry.

Currently, rescission rates are at an all time high not only due to the economy but also to the fact that many timeshare owners are left without assistance and guidance on meeting their obligations. In addition, timeshare ownership is not economically viable for families with limited resources or family commitments.

Nowadays, many current owners are not fully aware of their decisions in owning a timeshare. As there are a number of liabilities involve in timeshare ownership, in most cases, these owners may find difficulties later on. Take note that there are thousands of owners who are trying to get rid of their timeshares while some even hire a timeshare transfer company such as the Transfer Smart just to get rid of such property. So, if you plan to own a timeshare, do your own part to research the necessary facts about it.

Transfer Smart News: Starwood Announces Timeshare Deals

Despite the forecast that the coming months will still be stiffed for the timeshare industry and there’s an increasing number of owners who are trying to get out of their timeshare contracts, some companies continue to invest in such business. One of these companies is the Starwood Vacation Ownership VOI Mortgage Corp. which has announced that it is coming to market with $166 million in vacation ownership interest loan-backed notes Series 2009-B.

According to a presale report, the Standard & Poors assigned the bonds which are due in 2028 with a preliminary A rating. The SVO helped its case by overcollateralizing by 17 percent. The deal is scheduled to close this week and the bonds are expected to be one class and fixed-rate.

On the other hand, according to S&P’s presale filing, the preliminary rating assigned to SVO 2009-B VOI Mortgage Corp.'s vacation ownership interest loan-backed notes series 2009-B reflects their view of the credit enhancement available in the form of overcollateralization, a reserve account, and excess spread. Moreover, SVO operates vacation resorts and is a wholly owned subsidiary of Starwood Hotel & Resorts Worldwide, Inc.

Timeshare sales can be a very lucrative business. Despite of the several current owners who are getting rid of their timeshares while some even hire a timeshare transfer company such as the Transfer Smart, timeshares draw in a great deal of income because they essentially sell the same structure to several people with the price dependent on how much time each buyer will occupy the premises and whether it is during peak season.

Selling a Timeshare Smartly by Knowing Its Legal Grounds

Due to the disadvantages of timeshare ownership and the recent economic meltdown, many owners want to get out of their timeshares. While selling it is still the number option to get rid of it, there are the legal matters that you have to be aware of in doing so.

First, know that deeded and leased properties are the two most common types of timeshares. If the property is deeded, it is owned by the purchaser and never expires. It can be sold, transferred or even given away as a gift. The signed deed is recorded with the county where the timeshare is situated. A leased property on the other hand, gives the purchaser a set period of time to use the timeshare. With this, the developer or owner of the timeshare resort is actually the owner of the deed.

There are various kinds of deeds you can use to sell a timeshare. A seller can get a deed form in an office supply store or through the local clerk of courts. A quitclaim deed is the most convenient and is usually used when transferring the deed to relatives. Such deed is recorded by local officials when signed by each party. When not dealing with relatives or timeshare resorts, a warranty deed may be used. This kind of deed guarantees that the buyer has a clear title to the property and that the seller has the right to sell the property.

While there are some owners who hire a timeshare transfer company such as the Transfer Smart just to get rid of their timeshares, many of them opt to sell it first before considering other options. On other hand, when selling a timeshare, you must know the legal grounds of it to have a precise and successful deal.

Transfer Smart News: Non-Profit Organization Setup a Helpline That Assists the Timeshare Consumers

TATOC, a non-profit organization, was formed in 1989 as a networking company for appointed members of timeshare committees. Currently, it has 70 resort members that represent over 250,000 timeshare owners across Europe and is sponsored by some of Europe’s leading timeshare companies. One of the main objectives of this organization is to help the owners especially those who are having issues with their units and those who want to get out of their timeshare contracts.

One of the organization’s latest projects is the free Consumer Helpline, which operates from Manchester, UK. The said Helpline takes over 600 calls and 80 emails a month from consumers seeking timeshare assistance. Moreover, it is supported by a software solution which provides statistics and reports that aid company marketing and promotions.

According to Harry Taylor, CEO of TATOC, the organization is growing all the time and the Helpline is proving to be a great success. As the organization was looking for software that was flexible to handle every element of their operation, they decided to have the Merlin Software which comes with a full accountancy package so they will be able to run everything on one system rather than using multiple programmes.

Today, most owners have various concerns regarding timeshare ownership up to the point of wanting to get rid of such property. Some owners even hire a timeshare transfer company such as the Transfer Smart just to get rid of it. TATOC’s latest effort would be a great benefit for timeshare consumers by giving assistance to them.

Transfer Smart News: Timeshare Dealer Files for Bankruptcy for the Second Time

The global economic crisis is a ghastly event for each and every business in every country throughout the world. In the timeshare industry, this did not only results to low sales but also made the timeshares unattractive to most consumers. On the other hand, the current owners also are trying to get out of their timeshare contracts. The timeshare companies in their pursuit to survive during this chaotic time are doing numerous cost reducing and other restructuring measures. But for those who are unlucky to withstand this economic climate cannot escape the final blow to file for bankruptcy.

One such vacation timeshare company in Redington Shores filed for bankruptcy six years after it originally filed for Chapter 11 reorganization. Starco Ventures Inc., which lists its directors as Calypso Vacations Ltd. of Freeport, Grand Bahama, filed for Chapter 11 reorganization with the U.S. Bankruptcy Court’s Middle District of Florida last Nov. 25. It claims assets and liabilities of up to $66 million.

According to the court documents, Starco’s top unsecured creditor is GEM Capital Ltd. and Resort Capital Ltd. of Freeport for $65 million. GEM Capital held the mortgages on the timeshares operated by Starco, and as part of a 2003 bankruptcy proceeding by Starco, it was set to take title on units Starco owed money on. Under the agreement, Starco can continue selling timeshare weeks but would receive only 50% of the net sale price. The other half goes to GEM and its assigned owners.

While a number of vacationers refuse to own a timeshare and opt for other alternatives, the current owners on the other hand are trying to get rid of their timeshares. Some even hire a timeshare transfer company such as the Transfer Smart just to get rid of it. These results to low sales for most timeshare companies and unfortunately some did not make it and consequently filed for bankruptcy.

Transfer Smart News: Timeshare Company Hosts Monthly Auctions in South Florida

Despite the negative impact of economic downturn on timeshare ownership and many owners trying to get out of their timeshare contracts, the housing recovery is back in the United States. Also, the sales of timeshare properties in South Florida are beginning to bounce again. On the other hand, the Century Timeshare Group has kicked off its efforts to help the timeshare owners sell their properties at auction.

According to Robert Johnson of Century Timeshare Group, they have created a multi-million dollar showroom that will soon be hosting monthly auctions for private investors looking to purchase great South Florida timeshare properties. He added that the market is rebounding right now and there is strong interest from investors looking to purchase these great properties.

As the nationwide housing recovery continues and private investors look for deals around the country, the timeshare industry is undergoing a rebound. With South Florida as an area with a deep vacation and investment real estate property market, the timeshare market has already attracted a number of interested buyers.

However, Johnson stressed out that customers do their homework and deal with a firm that has strong knowledge of the South Florida timeshare marketplace. The move made by the above mentioned company is a big help to those owners who want to sell their timeshares. While a number of owners just plainly get rid of their timeshares and even hire a timeshare transfer company such as the Transfer Smart just to get rid of it, they can avail of those monthly auctions and have a greater chance of selling their timeshare units.

Transfer Smart News: Resale Company and Developer’s Teamwork Benefits Timeshare Owners

Recently, the established working partnership of Sell My Timeshare Now with InnSeason Resorts is expected to eventually help the timeshare owners resell their units that no longer fit their lifestyle. The teamwork of the two companies aims to assist those owners who are trying to get out of their timeshares by selling it.

As William Curran, Chief Executive Officer for InnSeason Resorts, explains, life changes and a family’s vacation needs change too. The timeshare owners are looking for a secure way to resell their timeshare. As Sell My Timeshare Now listens to timeshare owners, it offers them realistic ways to sell timeshare that no longer fits their lifestyle.

Meanwhile, the timeshare owners at InnSeason Resorts who want to resell their timeshares benefit this because their timeshare company has established a special working relationship with Sell My Timeshare NOW, making it easier for them to resale their timeshare. This also means that for timeshare owners who want to buy timeshare resales, it is much better to buy units at the said developer.

Today, there are thousands of owners who are trying to get rid of their timeshares while some even hire a timeshare transfer company such as the Transfer Smart just to get rid of such property. Many of these owners are still eager to sell their units but realized how hard to do it. The teamwork of the above mentioned timeshare resale company and developer fills the gap and strengthens both the timeshare industry for the development and sale of new timeshare and for timeshare resales. Moreover, this is a move that benefits timeshare owners most of all.

Smart Steps on Filing a Timeshare Dispute

A number of owners who had purchased a timeshare regretted their decision to own such property later after they have signed the contract and thus, they want to get out of their timeshare contracts. However, if you sign a contract and realize you made a mistake or want to back out from the deal, you can alter your decision by filing a dispute on a timeshare.

First, make copies and fax your dispute as soon as you decide you want to back out of the deal. Usually, most states and countries have a rescission period which you can cancel a timeshare contract. But unfortunately, not all states or countries have these rules.

Then, send a copy of your dispute immediately to your credit card company as well. They may honor the request and refuse payment. If payment has been transferred to the seller, then they will have to issue your credit to your account.

You can also have an attorney if your wishes are not honored or if you feel you have been ripped off. Calling the Better Business Bureau in the US for assistance may also help your dispute. Moreover, keep after the credit card company to give you a refund if ever you got scammed. They can go after the scammers effectively than you do.

If you’re an owner who regretted the decision to own a timeshare, then, you’re not alone. As a matter of fact, there are also several owners with this case who want to get rid of their timeshares. Some even hire a timeshare transfer company such as the Transfer Smart just to get rid of such property. By following the above mention steps, you have a chance to recover your payment if ever you realized that a timeshare is not meant for you.

A Smart Look at the Timeshare Industry and Its Financing Options

Today, it’s a known fact that there are several owners who want to get out of their timeshares mostly due to financial reasons. With the down economy these days, the timeshare companies are figuring out where they will obtain the financing necessary to help the consumers make their purchases. As still many people like the idea of timesharing, financing can be a way to own such property and the vacation industry wants them to have it to continue its sales.

Looking at many of the vacation ownership companies in the world, they have added financing options to make purchasing attractive to potential owners who tour their properties. As a matter of fact, some companies are offering financing options which will help the buyers with money towards their initial deposits and give them time to pay for the deposits.

Based on the credit markets, lots of companies are determining the credit worthiness of those purchasing with them and there are different financing possibilities based on credit ratings. The best credit-worthy buyers are often able to get better financial terms than those whose scores don't rate so high. It is more common now for companies to determine the credit worthiness of the vacation ownership or timeshare buyer and to offer more competitive financing rates to those with the best credit ratings.

Currently, timesharing is becoming unattractive as many owners are having a hard time keeping up with its costs. As a matter of fact, thousands of owners nowadays are trying to get rid of their timeshares while some even hire a timeshare transfer company such as the Transfer Smart just to get rid of it. On the other hand, financing is important in this industry to keep the sales flowing and make it available to interested consumers.