Could you advise me of where to begin?

[heycher]

Hi, I am doing some research for a friend who has 2 studio weeks at Oceans Landing (I.I.) that he wants to sell.

Would anyone be able to tell me a place where I could go to try to estimate their worth?

Thank you so much in advance!
Cheryl

[aliikai2]

you can find these listed at $500 and up plus normal closing costs. Most times when I am trying to help a friend, they seem to think I am trying to steal their weeks, since the true resale value is so much lower than they paid. They still cling to that Real Estate always increases in value, that they were told when they bought.
Check redweek, bidshares, here, tug2, and run a google search .

fwiw,

Greg

[jericap]

welcome....
I just checked ebay for completed listings and could find none for Ocean's Landing.
I see 2 listings for them in Redweek, but those are 1 bedrooms, weeks 5 and 6. Those are listed for 3750. each and are still there, so I would think a good price would be lower than what is listed, by at least half.
What week do they own, do you know? Maybe Bike week or a spring break week.

[GeoPatSK]

Here is a website that offers a “Blue Book” resale value for timeshares. You can leave the Name; Address; and e-mail, fields blank, and it will still return an estimate.

I think it low balls the value a bit, but it could be used to show your friend a third party estimate.

webuytimeshare.com

[muzjik]

Originally Posted by GeoPatSK

Here is a website that offers a “Blue Book” resale value for timeshares.

I put in 6 or 8 resorts including a Marriott Hawaii 2 bedroom they all came back at $100 - $1800 each time. I think their "estimate" is about as reliable as the postcard companies.

[tonyg]

Any listed price is most likely to be higher than the actual selling price. Florida has about 25% of the total timeshare units in the whole US. Since it's on the beach, it may have some value. My general rule is that the best 2br. timeshare in it's peak season should not sell for more than 9k. Many timeshares are worthless (just ask Bing ). Studios are worth much less than larger units. The week or season has a lot to do with the value of a timeshare. If a 1br week 5 or 6 is listed at $ 3,750 and not selling- then a studio for the same weeks would probably go for under $ 1,000. Non desirable weeks would be hand to sell for $ 100. Other items that need to be looked at are the annual cost and whether there have been any special assessments. Lack of a quality rating would be a definite negative.

[GrayFal]

Originally Posted by heycher

Hi, I am doing some research for a friend who has 2 studio weeks at Oceans Landing (I.I.) that he wants to sell.

Would anyone be able to tell me a place where I could go to try to estimate their worth?

Thank you so much in advance!
Cheryl

The weeks owned or the 'season/weeks' that the ownership floats in are extremely important in determining the value of your friends weeks.

[heycher]

To all who responded, THANK YOU so much for your time and thoughts!

I found out that it is weeks 43 & 46 that he owns at Oceans Landings that he wants to sell.

Now I know that but do not know what it means! Any further ideas would be awesome - even ball park. Thank you so much !!

Cheryl

[tonyg]

Week 43 is a dog, lucky to get $ 500 for it. Week 46 is a little bit worse.

[heycher]

Tony, thank you for your prompt and honest response.

He paid $3k for each of them a few years ago. Was that even a rip off back then? He never used them, just for trading purposes, never actually went there. The good thing about those weeks is they have really low annual fees ($187).