The Good

Back in May, I pointed out the threat posed to timeshare owners by timeshare recovery companies. Yesterday this issue was highlighted in an article by Diane Lade of the Sun Sentinel. In it, she states that the “Florida Attorney General has received more than 600 complaints in the past 12 months” regarding recovery companies. While it’s great to see these fraudulent entities receiving some attention from the media and regulators, I have to wonder how many thousands of timeshare owners have been victimized in the four months since I originally reported on the problem. Lade goes on to point out that some timeshare resale companies have “closed down but then reopened as a timeshare recovery business” – an astute observation echoing my post describing a recovery company as “a failed timeshare resale company.”

According to Lade, Florida Department of Agriculture and Consumers Services regulators are hard-at-work investigating “about 20 timeshare recovery businesses.” Hopefully, these efforts will protect timeshare owners from being conned out of their hard-earned money. …and Kudos to Lade and the Sun Sentinel for calling attention to this phenomenon!

The Bad

On September 3rd, an article by Jon Burnstein (also of the Sun Sentinel), provided some follow-up information on the ongoing timeshare fraud saga of Timeshare Mega Media. In what the FTC has called a “naked fraud,” Timeshare Mega Media contacted timeshare owners claiming “we have a buyer for your timeshare.” According to Burnstein, the operation collected an “estimated $5 million in less than a year,” before closing their doors in May 2010. Not to sound like a broken record, but HelpTimeshare.com reported on the “It’s Already Sold” scam back in February of 2010.  Apparently, our warning went unheeded by some 10,000+ consumers in Florida alone… More to the point of why I consider this a ‘bad’ story, Burnstein repeatedly refers to Timeshare Mega Media as a “timeshare resale company.” He goes on to refer to the timeshare resale industry as “fraud-riddled,” and states that “many of the unscrupulous resale companies operate the same way.” I suggest that, for anyone in the media, using this sort of language is, at best, irresponsible: Timeshare Mega Media was clearly anything but a timeshare resale company. According to Burnstein’s own article the company was no more than a criminal front, operated not by timeshare industry professionals but by felons and associates of major crime families.

Please, call them “fake” timeshare resale companies or something, but a distinction needs to be drawn by the media between criminals and timeshare resale companies. There is nothing to suggest Timeshare Mega Media, or its affiliates, had any connection whatsoever to the actual timeshare resale industry. No one in the press refers to the Swiss Watch Industry as “fraud-riddled,” though fake Rolex watches are still a-dime-a-dozen throughout the U.S.

Will the new name mean a new legacy for Celebrity Resorts and its owners? Quite possibly. The family-owned company has been selling timeshares for over 30 years, making it one of the most experienced resort developers in America. According to company lawyers, Celebrity Resorts exited bankruptcy intact, and with no job losses. In addition, Legacy Vacation Club has announced plans to implement its own internal “points” program, that will offer owners more flexibility. What may ultimately mean success for Celebrity Resorts, however, will be whether it can adapt its sales strategy to the tastes of a new generation of buyers. There are only so many upgrades that can be sold to aging timeshare owners; lasting success for any timeshare developer hinges on bringing new and younger buyers into the fold.

Just as generational differences have proven difficult for the timeshare industry, it’s generational differences within the Meyers family that have been blamed for the bankruptcy and subsequent reorganization of Celebrity Resorts. Brothers Neil and Hillel Meyers were the original developers of Resort World, predecessor to Celebrity Resorts, and remain legendary figures in Orlando’s insular timeshare community. Reportedly, disputes between Hillel Meyers and Neil Meyers’ son Jared led to partitioning the company in 2003. During last year’s bankruptcy proceedings, control of the company was hotly disputed between various family members, but the company’s reorganization plan approved this January leaves 34 year-old Jared Meyers in control as President and CEO. With a gen-xer at the helm, perhaps Legacy Vacation Club will succeed where Celebrity Resorts failed; retooling the timeshare sales process for internet-savvy younger buyers.

For now, all former Celebrity Resorts properties have been renamed to reflect the Legacy Vacation Club brand, and all resorts are now listed with both RCI and Interval International. Existing owners that want to sell their Celebrity timeshares will, no doubt, benefit from the re-branding; gradually escaping the stigma of bankruptcy. And while there are parts of the timeshare community that might still be skeptical of the new entity, I’m excited to see what the future holds. Best of luck to Jared Meyers and Legacy Vacation Club!

Popular Legacy Vacation Club Timeshares Include:
Legacy Vacation Club Orlando – Oaks
Legacy Vacation Club Orlando – Spas
Legacy Vacation Club Steamboat Springs – Hilltop

Timeshare resales are still relatively new; after all, timeshare itself has only been in America for around 30 years. Added to that, there was no affordable way to mass-market anything prior to the advent of the Internet, or more specifically before Google defined the modern search engine. For all intents and purposes then,  the secondary market for timeshares is about 10 years old. As with any emerging market, timeshare resale has faced obstacles and impediments, along with some spectacular successes. Owners that decide to sell find themselves faced with conflicting information, an abundance of uncertainty, and, yes, some scams to be avoided.

While most objective observers will admit that timeshare scams are the exception, rather than the rule, they exist, and many an unsuspecting owner has been led astray by silver-tongued fraudsters. Thankfully, the timeshare resale market is evolving and growing. Legitimate and committed companies are making a difference every day. That said, owners still have to be careful… Many have paid fees to have their timeshares advertised or marketed, but are still waiting for a buyer. During this time is when I think owners are most vulnerable, and this is the very vulnerability that timeshare recovery companies exploit.

Just what is a timeshare recovery company? Typically a failed timeshare resale company with some sort of loose association with a law firm. These recovery (or timeshare advocacy) companies cold-call timeshare owners offering to ‘recover’ funds paid to a timeshare resale company. The catch is that their services require the owner to pay yet another upfront fee. If that sounds fishy to you, then you’re not alone. In a recent case involving a timeshare recovery company that came before the U.S. District Court, Middle District of Florida, the Judge included the following in his report:

The Court views Plaintiff’s description of its business with some skepticism. The intended customer base includes individuals who previously made disappointing purchases of time share units (often as the result of sophisticated sales techniques) and who thereafter availed themselves of high priced resale services that failed to deliver as promised. Such individuals must be seen a vulnerable population. Plaintiff’s business includes inducing these individuals to purchase yet additional services with respect to their time shares.

Beyond the dubious nature of timeshare recovery companies, the strategies these firms encourage owners to use in order to pursue a refund often constitute criminal behavior! Owners are given form letters, and told to sign and mail them to the timeshare resale company in question. These letters regularly violate state and federal extortion laws, contain slanderous statements, and constitute defamation; making the timeshare owner themselves criminally liable, and subject to prosecution.

There are free and legal ways for owners to address grievances with resale companies. By getting involved with timeshare recovery companies, owners have nothing to gain and potentially everything to lose… Consider yourself warned.

A substantial portion of HelpTimeshare.com has consisted of in-depth reviews of various timeshare resorts. The resorts I’ve reviewed have been properties where Bay Tree Solutions advertisers have owned timeshares. By creating a specific and positive narrative for a timeshare resort, we create reasons for someone to buy there. After much consideration, Bay Tree Solutions has decided resort reviews belong nearer the listings on its primary website. Looking for detailed reviews of vacation ownership resorts? Visit the timeshare resorts page and select a property. At the Help Timeshare Blog, I will continue helping timeshare owners to protect, defend, and preserve their resale values, with current and relevant industry analysis.

Thank you for your continued readership!

Back in 2005 Florida’s real estate market was burning so white-hot, it was easy to miss the opening of a small Residence Club along the Marco River. At that time, Fractional Ownerships were widely popular: Generally, a Fractional or Residence Club is sold as a 4 to 12-week block of time, with only limited exchange ability. Resort Developers have long sought to replace the word “timeshare,” as it is thought to be too stigmatized. (Vacation Ownership anyone?) Perhaps Sunset Cove Resort and Suites was to be the crossover: called a Fractional Residence Club, and sold in 1-week intervals like a timeshare.

Today, the real estate market has cooled – and most people understand that Fractionals and timeshares are not the same thing. So where does that leave Sunset Cove? On top, actually. Take away the confusing Residence Club label, and you’ve got a really, really, great timeshare.

Every one of the just 36 units at Sunset Cove is a 3-bedroom that sleeps 8. End units have 3 bathrooms in 1,900 square feet, and interior units have 2 baths in just under 1,700 square feet. These suites have  far too many luxury finishes to list in one post, but highlights include Corian countertops, jetted tub, plasma TV, and a Bose stereo. Furniture is carefully selected, and of the highest quality.

The resort has an on-site marina, where owners are able to use a boat slip during their stay – a priceless feature for the sportfisher. Other Sunset Cove Resort amenities include a pool and spa, fully equipped fitness center, and a helpful concierge staff. Marco Island’s white sand beaches are just a short walk away, or there’s a complimentary beach shuttle.

Timeshares sold at Sunset Cove Marco Island were deeded ownerships until 2009, when Summer Bay Resorts took over timeshare sales at the resort. New ‘owners’ can purchase the Summer Bay Resorts Crown Club membership, with access to Sunset Cove, along with Summer Bay’s other popular properties, but no direct ownership. For existing deeded owners, Summer Bay’s involvement should provide good long-term stability; the developer has decades of experience in successful resort management.

There are two things you want in the ideal timeshare: sound real estate value, and lots of flexible exchange options. With the prime location, limited number of units, luxury appointments, and solid resort management, deeded Sunset Cove Resort & Suites timeshares have real, tangible value, but what about trading? Owners of deeded Sunset Cove timeshare have no less than four exchange programs to choose from!

1. RCI Weeks – All Sunset Cove weeks trade in red season through RCI. The resort is notoriously difficult to exchange into, meaning weeks are in constant demand. Expect hassle-free exchanges.
2. The Registry Collection – This exchange program only accepts Residence Clubs, luxury vacation properties, and very high-end timeshares. At Registry Collection resorts, you’ll travel like the rich and famous; enjoying locations off-limits to most timeshare owners. Expect accommodations equal or better accommodations to those at Sunset Cove.
3. Hilton Grand Vacations Club – Your week can be exchanged for HGVC points, where you’ll exchange with priority to the many popular Hilton Grand Vacations Club resorts. Assigned point values for Sunset Cove weeks are fairly high, so expect to enjoy even more days of vacation.
4. Hilton HHonors – On years when you’re not traveling to a timeshare destination, or need just a few nights at a time, turn your Sunset Cove week into Hilton HHonors Points, and stay at any Hilton hotel location.

The best part about all these options in that they’re ‘pay-as-you-go’ – Simply join and pay the yearly dues for the exchange program you want to use each year, and then save on exchange fees during years when you visit your home resort. With both mainstream and high-end exchange options, plus high demand and a low number of units, Sunset Cove Resort and Suites are timeshares that can truly take you anywhere.

Buying at Sunset Cove

Convinced yet? In order to buy a deeded Sunset Cove timeshare, you’ll need to look to the resale market – but don’t expect to find these weeks on eBay for $1. With as desirable as these weeks are, not many owners are willing to sell, plus original sale prices at the resort ranged from around $30,000 to over $65,000 per week, so even a 50% discount could mean paying over $30,000 on the resale market! Sound like a lot to spend on a timeshare? Maybe, but this is timeshare that works. Spend a few minutes on the web reading what owners are saying about their other, lesser timeshares, and you’ll find myriad complaints about exchanging, management, or accommodations; perhaps this is why many timeshare owners own multiple weeks – they keep buying more, hoping to eventually get it right.

If you’re serious about owning a timeshare, and want to get it right the first time, look at these Sunset Cove Resort & Suites timeshares for sale by owner, and make a purchase you won’t regret!