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TheViking
Traveler


Joined: 12/19/14
Posts: 15
Timeshare decision
      #1622062 - 12/31/14 12:41 PM (76.116.67.196)

have been reading through many threads on TTOL and TUG in the hopes of narrowing down my search and making a decision (Yay or Nay) regarding purchasing a timeshare in Sint Marteen.
Here is what I know:

1) All timeshares are a risk and timeshares on St Marteen are NOT deeded properties but RTUs
2)Little or no protections for US buyers should a developer owner of a resort take the money and run (lots of hx with Caranvasia (sp) Pelican and…..who else?) or mismanage
3)Many owners of TS on this island have been coming 10-20 plus years and have made good use of their purchase (Flamingo, Simpson Bay, Royal Ilander, Divi,LaVista, Towers at Mullet Bay etc)
4) People who LOVE ST Marteen are concerned about the escalating crime, decreased safety on the island (I was there recently and did not have a problem took precautions, drove to casinos at night alone).

Here is what I don't know/understand need more info on:

5) Where can I find a true indication of the resale market online (not Tug or red week their listing prices are not indicative of the market IMHO)!
6)Is it better to buy a fixed vs floating week? (I would like to go every year or EOYin shoulder season Nov-mid Dec)?
7) How do these resorts trade with II/RCI compared to the MFs?
8) How do you get historical data on MF assessments at any given resort?(can only get for Diamond RESORTS on tug AFAIK)
9)Any information on Dawn Beach CLub? (seems there was some controversy mentioned in a thread "we all know what happened at Dawn Beach"…no I don't can someone enlighten me?
10) ROYAL RESORTS owns and manages SBR and Mexico properties does anyone have info on the reputation of this company?
11) If a 2bd lock off is available at any St Marteen resorts can they be split to 2 weeks for same MF?

OK guys thank you in advance and…..GO

Respectfully,

V I TRIED TO START AN NEW THREAD BUT IT WOULD NOT ALLOW ME TO SO I JUST COPIED AND PASTED I

Edited by ruralcarrier (12/31/14 03:34 PM)


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candu
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Joined: 06/03/04
Posts: 662
Loc: Ottawa Canada
Re: Today is the day! [Re: TheViking]
      #1622081 - 12/31/14 02:00 PM (99.240.141.144)

Maybe a new thread would be better than this off topic post if you want answers.

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TheViking
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Joined: 12/19/14
Posts: 15
Re: Today is the day! [Re: candu]
      #1622094 - 12/31/14 02:39 PM (76.116.67.196)

PLEASE read the bottom of the POST I TRIED AND WAS UNSUCCESSFUL posting a new thread. I am new to the FORUM

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GaKaye
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Joined: 07/09/06
Posts: 11631
Loc: Peaceful Eastern North Carolin...
Re: Today is the day! [Re: TheViking]
      #1622096 - 12/31/14 02:42 PM (70.193.7.51)

Viking, go to the index page for St. Maarten - St. Martin, and near the top on the right-hand side, you'll see the word "post". Click on that, and you'll get to the place to start a new thread.

--------------------





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pat
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Joined: 04/18/01
Posts: 11322
Loc: Brookfield, CT.
An Open Note to TheViking
      #1622099 - 12/31/14 02:51 PM (32.216.64.131)

Not GaKaye but I will attempt to answer a few of your questions as best I can.

1. I agree that all time shares on St. Maarten are a risk and are not, to the best of my knowledge, deeded properties but are RTU. You should probably not spend anymore than you are actually willing to lose if things go bust because they can and do..

2. Thanks to all the various St. Maarten governments as far back as I can remember, there are absolutely no protections for any buyers regarding mismanagement or ultimate protection of purchasers with regard to the timeshare property purchase agreements.

3. You are correct, many timeshare owners are long time island visitors. We've been coming to SXM annually for 41 years and we have definitely made very good use of our timeshare weeks. But we visited for about fifteen years before we bit the bullet and bought at a property in an area we already knew we loved.

4. Yes, even those of us who love the island and our timeshares do not visit with blinders or rose colored glasses. We know there are issues with crime and safety there, but we also admit there are also problems here at home where we live and exist every day.

5. I don't think there is any accurate source of timeshare resale pricing. Basically, many unit owners who want out for whatever their reason are finding themselves giving back their units to the management company or in some cases, to the original developers and are happy to walk away, and some are giving them away to anyone who will take them off their hands.

The only caveat to that might be those who have very desirable units (penthouses?) in very desirable weeks (Christmas, Presidents week, Regatta and Easter weeks) in very desirable properties and even these people are not getting near the monies they hoped to realize on resales. Best suggestion - check ebay - we bought a week we really wanted there for $12.00.

6. Each option - floating or fixed has its own merits depending on your needs and the properties rules and regulations. We bought fixed weeks after visiting the island for fifteen years at the same time of year but our resort allows for internal exchanges in house within the same year. Others have great luck with floasting time but I always wonder how the developers/management can guaranty absolute certainty of some weeks not being oversold. I really don't know enough about the option but then, I don't need to.

7. Not sure what you're asking but my personal experience is I always hear people talking about the great deals they've gotten but I know for a fact, they can't get the best unit at the Towers for week 17 in a two bedroom unit because I own it and I use it almost every year. But that would be a personal opinion, wouldn't it!

8. I doubt the infor regarding AMFs and special assessments is available anywhere. Why would they want to give that info out?

9. Dawn Beach Club was an older timeshare on the island that was destroyed during a hurricane. Two schools of thought exist, but the bottom line was the developer either failed to pay the insurance on it or he paid the insurance and was paid by the insurer aand absconded with the monies, leaving the timeshare owners with nothing.

10. I know nothing about Royal Resorts so wouldn't dare to comment.

11. Ditto re lock off units.

Don't know if I helped or not but it's about the best I could do.

--------------------
Respectfully,

pat



"Always keep your words soft and sweet, just in case you have to eat
them."


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TheViking
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Joined: 12/19/14
Posts: 15
Re: An Open Note to TheViking [Re: pat]
      #1622127 - 12/31/14 04:16 PM (76.116.67.196)

Hi Pat,

Thank you for your response. Georgia has also responded to other postings of mine and I very much appreciate those who take the time to respond. It is clear from scanning/reading these threads that you all are SXM veterans and
your comments should be absorbed thoroughly.

I really enjoyed my time on the island and I am resisting the urge to dive in quickly. Returning for another visit same time next year seems advisable.

I stayed in SBR Marina building as a relative has few units there. Liked the location saw Marigot (market, breakfast) Grand Case (dinner, shopping at night). Played poker (big hobby passion of mine) several evenings. Ate in some very memorable restaurants. Like the general "vibe" on the island. Relaxed a lot at the beach (Pelican KEy or Simpson bay beach not sure but the one attached to the resort) Know there is ALOT MORE to explore, see.

One last probe if I may..when you say DBC TS owners were left with nothing does that mean the resort is not operational? Ghost town? Just a bit confused by this. There are several 3bd units on resale market I wonder what they are selling?
Happy New Year to all.

All the Best,

V


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ruralcarrierModerator
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Joined: 03/31/01
Posts: 12563
Loc: Ohio
Re: An Open Note to TheViking [Re: TheViking]
      #1622128 - 12/31/14 04:21 PM (65.189.27.134)

Quote:

One last probe if I may..when you say DBC TS owners were left with nothing does that mean the resort is not operational? Ghost town? Just a bit confused by this.




From what I recall, Dawn Beach collected "insurance" money but never passed it on the any insurance company. When the hurricane wiped it out there was no insurance and basically everything was lost.

There is a new resort in that location now. It was a ghost town for many years.

--------------------
J.D.


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soualigacapt
Traveler


Joined: 01/21/10
Posts: 3600
Loc: Oyster Pond St. Martin
Re: An Open Note to TheViking [Re: ruralcarrier]
      #1622129 - 12/31/14 04:24 PM (190.102.4.213)

Quote:

ruralcarrier said:
Quote:

One last probe if I may..when you say DBC TS owners were left with nothing does that mean the resort is not operational? Ghost town? Just a bit confused by this.




From what I recall, Dawn Beach collected "insurance" money but never passed it on the any insurance company. When the hurricane wiped it out there was no insurance and basically everything was lost.

There is a new resort in that location now. It was a ghost town for many years.




I thought the insurance money was paid to the broker and he never paid the insurance company and that's why there was no coverage.


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boucharda
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Joined: 12/01/04
Posts: 2950
Loc: Massachusetts
Re: Timeshare decision [Re: TheViking]
      #1622134 - 12/31/14 04:34 PM (76.118.193.255)

Wow...lots of questions and I probably won't be of much assistance. We "own" at SBR, 2 weeks (2 & 3) 5th floor upper B building. We inherited it so no initial cash outlay...

I would suggest staying (renting) at a resort you have your eye on...if you like it then look for resales wherever you can find them..there are quite a few out there.

We like going at the same time every year so fixed weeks is a must for us...and fixed unit is even more important since we have a view to die for...points for a random unit just wouldn't cut it.

As an example here's a week at SBR in our building same floor....going for a buck so far..2 days to go

Quote:

Here is your chance to own a Timeshare Membership (Expires in 2071) at a fraction of the developer price! This is a One Bedroom Suite with One Bathroom (Unit B-574; Week 17; Sleeps 4) wth FIXED RED WEEK 17 (April 26th - May 3rd, 2015; Sunday Check In/Out) at the Simpson Bay Resort and Marina, an RCI SILVER CROWN Resort & Interval International Resort located in Simpson Bay, Sint Maarten, Netherlands Antilles!!!. All fees are current with mortgage paid in full; you will receive clear title guaranteed. Your usage is ANNUAL and starts in 2015.




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ruralcarrierModerator
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Joined: 03/31/01
Posts: 12563
Loc: Ohio
Re: An Open Note to TheViking [Re: soualigacapt]
      #1622141 - 12/31/14 05:00 PM (65.189.27.134)

One or the other. Bottom line, a lot of people lost.

--------------------
J.D.


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