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Timeshare Exit #184112
02/14/2019 09:26 AM
02/14/2019 09:26 AM
Joined: Nov 2006
Posts: 37
Philadelphia, PA
TIM Offline OP
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TIM  Offline OP
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Philadelphia, PA
Does anyone know about exiting Oyster bay beach resort


Tim
SXM Sponsors
Re: Timeshare Exit [Re: TIM] #184116
02/14/2019 10:02 AM
02/14/2019 10:02 AM
Joined: Aug 2000
Posts: 1,370
Hershey, Pennsylvania
Tom Online content
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The subject of exiting timeshares has appeared a number of times on this and other boards. The first thing usually suggested is to carefully read your original timeshare agreement. If there is no mention of any penalty or fees in that contract, you can normally walk away. Remember, your agreement is probably based upon Netherlands Antilles law. Sometimes resort management will state that you have further obligations (exit fees, penalties, etc.) or that your credit rating will be reduced, when you notify them of your intentions to terminate your timeshare. None of this is enforceable unless it is spelled out in your original agreement.

Re: Timeshare Exit [Re: TIM] #184134
02/14/2019 12:24 PM
02/14/2019 12:24 PM
Joined: Jun 2003
Posts: 298
Upstate, NY
Mikel Offline
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From what I have been told, if you contact Pearl Development and tell they you want to turn your week in, they will send you a check for $1 and when you cash it, your liabilities are gone, assuming you no longer owe any of the original purchase price.

Re: Timeshare Exit [Re: Mikel] #184154
02/14/2019 02:34 PM
02/14/2019 02:34 PM
Joined: Feb 2006
Posts: 490
MILford,CT.
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bonsie Offline
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I also own at OBBR and I have been told to same thing. As long as you have no balance on your original purchase than you have no more obligations to the resort. Counting the days to our return to the resort.

Re: Timeshare Exit [Re: TIM] #184276
02/15/2019 09:37 PM
02/15/2019 09:37 PM
Joined: Mar 2009
Posts: 600
Eastern NC, N Topsail Beach
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SXMFOX Offline
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Eastern NC, N Topsail Beach
I have to get in on this conversation! I still don’t understand why people buy time. It is just time, not real ownership. Seems like a waste of money in my opinion. It is way cheaper to just get a room or villa (large one) than just blowing money on time. At the end of the day, you still don’t own a thing, except a piece of paper, with TIME. My two cents, so please don’t beat me up, just school me.

Re: Timeshare Exit [Re: SXMFOX] #184283
02/15/2019 10:21 PM
02/15/2019 10:21 PM
Joined: Mar 2009
Posts: 18,564
Auburn, WA
SXMScubaman Offline
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Originally Posted by SXMFOX
I have to get in on this conversation! I still don’t understand why people buy time. It is just time, not real ownership. Seems like a waste of money in my opinion. It is way cheaper to just get a room or villa (large one) than just blowing money on time. At the end of the day, you still don’t own a thing, except a piece of paper, with TIME. My two cents, so please don’t beat me up, just school me.

Do we have to go down this road again?

Re: Timeshare Exit [Re: SXMScubaman] #184284
02/15/2019 10:27 PM
02/15/2019 10:27 PM
Joined: Mar 2009
Posts: 600
Eastern NC, N Topsail Beach
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SXMFOX Offline
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I really want to learn. I’m just asking. To me it’s sounds like like Amway all over again Scbaman.

Re: Timeshare Exit [Re: TIM] #184286
02/15/2019 10:31 PM
02/15/2019 10:31 PM
Joined: Mar 2009
Posts: 600
Eastern NC, N Topsail Beach
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SXMFOX Offline
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Carol please don’t shut us down. I want to learn, as long as we all play fair.

Re: Timeshare Exit [Re: SXMFOX] #184289
02/15/2019 11:04 PM
02/15/2019 11:04 PM
Joined: May 2012
Posts: 662
Burlington, Ontario, Canada
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JohnandBev Offline
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Burlington, Ontario, Canada
pretty simple
Cars, you can buy, lease or rental daily / wkly

You choose what works for you.
I
f you only needed a car for 1 -2 wks a yr and you loved a certain model of car, would you buy or rent weekly. Maybe you buy and pay to keep it running while you don;t use it or rent it out and hope the revenue covers your costs.

All time worn models of ownership, you pick what works for you at the point in time of where your life is. You make your choice and deal with it.

J&B

Re: Timeshare Exit [Re: JohnandBev] #184291
02/15/2019 11:32 PM
02/15/2019 11:32 PM
Joined: Mar 2009
Posts: 18,564
Auburn, WA
SXMScubaman Offline
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Good analogy.

Re: Timeshare Exit [Re: SXMFOX] #184296
02/16/2019 04:21 AM
02/16/2019 04:21 AM
Joined: Aug 2012
Posts: 2,288
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PelicanPirate Offline
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Ever since our honeymoon on Maui and returning the following year to find “our” hotel was selling “our” room as a timeshare we thought of buying it as we planned to be back every anniversary. Well, then kids and costs, and we said good thing we didnt by “our” room as we wouldnt see Maui for 12 more years.

The best thing about a timeshare to me would be to help “force” a couple to make time and make budget for a vacation in a place and at a time that brings great happiness. Certainly, SXM is one of those places. Our trips have always been at New Years or in June.

Also, if a place were very hard to find good, comparable qccomodations and thus if you didnt “buy” you couldnt get it it wiuld have a different value. But, generally, I dont know of a place where that is true on Maui or SXM.

We looked into buying a yellow umbrella studio. That investment is even whackier than a timeshare would have been.

So, I dont look at a timeshare as a good investment or even an investment period. It is a vacation expense that is judged to be affordable/a good deal that forces a vacation to occur in a place that brings immeasurable happiness.

So, if a place no longer brings the happiness or the wallet cant afford the trek then the timeshare looses its purpose or “value”.

For those that can sell for something that shows more people share that happiness factor.

Some retain it and some lose it completely. Usually through mismanagement of funds.


Re: Timeshare Exit [Re: TIM] #184300
02/16/2019 07:11 AM
02/16/2019 07:11 AM
Joined: Feb 2007
Posts: 4,346
Rhode Island
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TS was good for some until MF's got too high. Now they either bite the bullet or sell.

Re: Timeshare Exit [Re: JohnandBev] #184304
02/16/2019 08:01 AM
02/16/2019 08:01 AM
Joined: Aug 2000
Posts: 1,370
Hershey, Pennsylvania
Tom Online content
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Goof basic explanation. Add to that the flexibility to trade a timeshare for another place or time. That appeals to some people that want to experience a variety of different locations.

Re: Timeshare Exit [Re: RonDon] #184306
02/16/2019 08:21 AM
02/16/2019 08:21 AM
Joined: Jul 2006
Posts: 13,398
Peaceful Eastern North Carolin...
GaKaye Offline
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Originally Posted by RonDon
TS was good for some until MF's got too high. Now they either bite the bullet or sell.


Not in every case. We continue to be very happy with our timeshare purchase at La Vista Beach.

Re: Timeshare Exit [Re: TIM] #184307
02/16/2019 08:44 AM
02/16/2019 08:44 AM
Joined: Jan 2003
Posts: 825
Grosse Pointe, Michigan
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Here are a few of the reasons I bought a timeshare at Simpson Bay Resort and m glad I did. First, it forces me to take a vacation. For us workaholics who are also frugal, it is a way to make us take a vacation when we might otherwise just stay at home and work. The renting he cost of the unit and the cost of maintenance fees when amortized over the years works out to be a bit less than renting the comparable unit. The main advantage that we're guaranteed the same unit with a spectacular view. When renting, especially now that there are fewer units after Irma, you may have difficulty finds the right unit during High Season. We like knowing that we have the same unit every year, knowing exactly what's in it and where we'll be. It was never an "investment" and was not ever going to be.

Re: Timeshare Exit [Re: RonDon] #184313
02/16/2019 10:03 AM
02/16/2019 10:03 AM
Joined: Aug 2000
Posts: 82,466
Central Florida!
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RonDon--It depends on the timeshare. SOME places, the AMF are way out of line with the other resorts on island, like Diamond. Before Diamond decided they were going to take 3 years to rebuild after Irma, you could almost ALWAYS rent someplace at Royal Palm or Flamingo for less than the AMF. Something wrong with that equation. Other places, like LaVista and LaVista Beach, have much more reasonable AMFs. For ME, timeshare never made sense, as I certainly don't need anyone to MAKE me take a vacation! grin And due to Eric's work schedule having to be coordinated with other people, he could not go at the same time each year (although we usually went on vacation for a week three times a year). With regard to SXM in particular, for years, we stayed on the French side, as was our preference and there was maybe ONE? t/s on the French side. And we wanted to go different weeks and stay at different places. So t/s made no sense for us, totally separate from the question of price paid. Over the years, I would say we've easily stayed at probably two dozen DIFFERENT places. And our wants and needs have changed drastically over the years. If we were ever tempted to buy t/s, which we never really were, we would only have bought at LaVista Beach. That is because of the ownership there. If you buy t/s in SXM, you have ZERO protection from the laws of SXM. Your ONLY protection is the integrity of the owner of the t/s resort. After Irma, the Summit is GONE, shoot can't think of the name of it, that other resort in Cupecoy is GONE, Diamond "owners" are scr*wed over until 2020, at least, the Towers? Who knows? Then there's Caravanseri. Then there's the Pelican, now SBR. On and on. You can judge a company by what happens when the WORST happens, which is Irma. LaVista and LaVista Beach began rebuilding right away and they are better than ever now. Other places, not so much.


Carol Hill
Re: Timeshare Exit [Re: Carol_Hill] #184319
02/16/2019 10:47 AM
02/16/2019 10:47 AM
Joined: Aug 2000
Posts: 1,370
Hershey, Pennsylvania
Tom Online content
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We often read that the Belair Beach Hotel was judged as "dated" by some that stayed there. While there is some truth is that evaluation, I suppose "dated" could also mean solidly built and that has proven to be valuable when recovering from hurricanes over the years. Even Irma did not damage the basic structure. They are still working to restore all apartments but were able to rebound faster than most. As to the timeshare discussion, this method of vacationing was very popular for a period of time but has diminished with storms and management corruption. It was never a valid "investment" but an alternative that has worked for some, others not so much. I think we are now at the point where conventional rental and timeshare annual maintenance in SXM are close to equal.

Re: Timeshare Exit [Re: TIM] #184325
02/16/2019 11:40 AM
02/16/2019 11:40 AM
Joined: Jan 2015
Posts: 92
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moontide Offline
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Agree with Leagle49 for all the same reasons. Have 3 consecutive weeks at the Atrium, fixed weeks, fixed one bedroom with great views. Bought 2 weeks for $5,500 total and 1 week on Ebay for $350 about 6 years ago. Maintenance is now $850/week vs. $750 for most years. One assessment due to hurricane. For us, it has been a great investment to date. Have never exchanged for another location because we love SXM.

Re: Timeshare Exit [Re: Leagle49] #184330
02/16/2019 12:10 PM
02/16/2019 12:10 PM
Joined: Mar 2009
Posts: 18,564
Auburn, WA
SXMScubaman Offline
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Auburn, WA
Originally Posted by Leagle49
Here are a few of the reasons I bought a timeshare at Simpson Bay Resort and m glad I did. First, it forces me to take a vacation. For us workaholics who are also frugal, it is a way to make us take a vacation when we might otherwise just stay at home and work. The renting he cost of the unit and the cost of maintenance fees when amortized over the years works out to be a bit less than renting the comparable unit. The main advantage that we're guaranteed the same unit with a spectacular view. When renting, especially now that there are fewer units after Irma, you may have difficulty finds the right unit during High Season. We like knowing that we have the same unit every year, knowing exactly what's in it and where we'll be. It was never an "investment" and was not ever going to be.

Ditto

Re: Timeshare Exit [Re: TIM] #184357
02/16/2019 05:37 PM
02/16/2019 05:37 PM
Joined: Feb 2007
Posts: 4,346
Rhode Island
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I agree with Carol and GeorgiaKay. If I was to buy time share my choice would be LaVista. We actually came very close once.

Re: Timeshare Exit [Re: RonDon] #184374
02/16/2019 09:04 PM
02/16/2019 09:04 PM
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PelicanPirate Offline
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So we visited and ate breakfast and it looks well cared for but the general area there seems very busy. I see on the google map there is a lower half across the road with another pool. Are there other amenities down there? A bar? How is the chair situation?

Re: Timeshare Exit [Re: PelicanPirate] #184378
02/16/2019 09:48 PM
02/16/2019 09:48 PM
Joined: May 2014
Posts: 142
Ontario
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Canuck54 Offline
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I think being busy is a sign that they must be doing something right. I assume you are talking about La Vista, we own two weeks at La Vista “Beach” which is the lower building you referred to. There is a smaller pool and access to the ocean but not really a great beach, there is a good sized deck with some umbrellas and loungers. The nearest bar is in your unit which is literally steps away. We also feel fortunate to own there.

Re: Timeshare Exit [Re: Canuck54] #184379
02/16/2019 09:49 PM
02/16/2019 09:49 PM
Joined: Mar 2009
Posts: 18,564
Auburn, WA
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La Vista is a nice resort.

Re: Timeshare Exit [Re: Canuck54] #184389
02/17/2019 01:16 AM
02/17/2019 01:16 AM
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PelicanPirate Offline
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I meant busy in that alot of cars transact that road. Are you saying you have to climb the hill and cross the road to hour unit for a drink?

We had. Onidea the lower section was there from our single morning breakfast visit. While it was. Ice up there it was t on the water.

Re: Timeshare Exit [Re: PelicanPirate] #184399
02/17/2019 09:15 AM
02/17/2019 09:15 AM
Joined: Aug 2000
Posts: 82,466
Central Florida!
Carol_Hill Offline
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Originally Posted by PelicanPirate
We had. Onidea the lower section was there from our single morning breakfast visit. While it was. Ice up there it was t on the water.


WHAT?? Come on people, please read what you post..


Carol Hill
Re: Timeshare Exit [Re: PelicanPirate] #184406
02/17/2019 10:59 AM
02/17/2019 10:59 AM
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PelicanPirate Offline
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We had no idea that La Vista was on the water from our visit to the Hideaway from breakfast.

Two thumbs, Auto correct and maybe a few beers. Sorry for letting TTOL quality standards down.

Re: Timeshare Exit [Re: PelicanPirate] #184427
02/17/2019 01:31 PM
02/17/2019 01:31 PM
Joined: Aug 2000
Posts: 82,466
Central Florida!
Carol_Hill Offline
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Thanks, Pelican. Everyone makes mistakes, but it's good to acknowledge them when made. While this isn't school and shouldn't be graded, it doesn't hurt to make sure that your post at least makes sense.


Carol Hill
Re: Timeshare Exit [Re: Carol_Hill] #184431
02/17/2019 02:01 PM
02/17/2019 02:01 PM
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I edit 95% of mine twice because two thumbs hunting and pecking often make a mess. I never use a keyboard any more.

Re: Timeshare Exit [Re: PelicanPirate] #184432
02/17/2019 02:02 PM
02/17/2019 02:02 PM
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Posts: 142
Ontario
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Canuck54 Offline
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Put on beer googles so it made sense 😀. First Billy Folly road is the main road to Pelican so there is some traffic but there are good sidewalks. La Vista resort (upper part near restaurant) is not on the water, Lavista Beach resort the lower complex is on the water, they are both owned and operated by the same family (great family by the way) . They are different listings on Interval international so be aware if exchanging there. The area in general is very hilly and the walk from La Vista Beach to the Hideway restaurant and bar is a good workout, some will even drive up. Great resort well managed.

Re: Timeshare Exit [Re: Canuck54] #184434
02/17/2019 02:13 PM
02/17/2019 02:13 PM
Joined: Mar 2009
Posts: 18,564
Auburn, WA
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I never found that walk very steep or strenuous. It's only across the road from each other.

Re: Timeshare Exit [Re: SXMScubaman] #184437
02/17/2019 02:23 PM
02/17/2019 02:23 PM
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Ontario
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Canuck54 Offline
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Nor do we but I don’t want to mislead anyone. There was an elderly couple on our last stay that struggled a bit. Thank God for your good health, we do.

Re: Timeshare Exit [Re: TIM] #184442
02/17/2019 02:39 PM
02/17/2019 02:39 PM
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Ontario
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Canuck54 Offline
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Sorry this went sideways (that rarely happens). To the original topic, exiting a timeshare has a lot to do with the individual timeshare, for example, La Vista would be easy to exit some others not so much unless you want to give it away.

Re: Timeshare Exit [Re: PelicanPirate] #184443
02/17/2019 02:46 PM
02/17/2019 02:46 PM
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Peaceful Eastern North Carolin...
GaKaye Offline
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Originally Posted by PelicanPirate
So we visited and ate breakfast and it looks well cared for but the general area there seems very busy. I see on the google map there is a lower half across the road with another pool. Are there other amenities down there? A bar? How is the chair situation?


The lower section you refer to is La Vista Beach. We own three weeks there in a studio. There was once a tiki bar down there, but that was removed due to a dispute with the owner of the property next door. Frankly, I don't feel the need for a bar there with my room steps away from the pool. There are plenty of chairs and umbrellas for the pool, and guests at La Vista and La Vista Beach can use either pool. The beach there isn't really swimmable, and there are no chairs on the beach, although I have seen guests take pool chairs down there. If we want to spend the day on a beach, we go to one of the many other beaches on the island. I'm not sure what you mean about the area being busy. Our unit faces the sea, and we are completely unaware of any traffic while we're there.

Re: Timeshare Exit [Re: GaKaye] #184449
02/17/2019 03:28 PM
02/17/2019 03:28 PM
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Thanks for the info on La Vista Beach. I guess we saw the Billy Folly drive past Buccaneer and SBR and then the Casino to be kind of busy as in lots of cars and pedestrians. It was actually our first time back there going to the Hideaway. I suppose it got less busy as we got past all that to where La Vista was.

Im sure it’s well worth it to get situated in your piece of paradise.

Re: Timeshare Exit [Re: TIM] #184536
02/18/2019 11:38 AM
02/18/2019 11:38 AM
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The comment from SXM Fox highlights one problem of time share..ownership. He is partly right about not owning anything BUT it depends on the type of time share. We own a "timeshare" but we have a deed and ownership and NO term or time limit. We can pass the deed to our children and as long as the fees are paid there is no problem. Once a year, as owners, we attend an AGM at which time we elect a new board of directors and discuss issues. If issues arise between AGMs we can discuss them with board members.
Admittedly, if you're shopping for an ownership type of timeshare it might be hard to find as most timeshare organizations dislike them...I think they feel they have some loss on control when there are actual owners. We are part of the Wyndham chain and in the Wyndham system there are two resorts that have owners.
It works for us and, I believe, gives us a lot more options. We chose our resort for two reasons...first, ownership and secondly, the resort is only 2 hours drive from where we live..BUT we can still trade and go virtually anywhere in the world on a timeshare agreement basis. Personally I think ours is the best of both worlds.

Re: Timeshare Exit [Re: TIM] #184600
02/18/2019 08:44 PM
02/18/2019 08:44 PM
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the Long Island
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I think we got the timeshare in 2006 and still dunno if it’s “cost effective”. When we first got it we were Just out of med school and it was only blowing 9k on a place that would house our future family and be at a beach within15 min of landing. . Seem like a good idea time.
Having gotten here yesterday with rum runners at the beach within 15 min of getting off the plane, it’s still worth it to us.

We own a week in Saint Martin we only use it maybe every 3 to 4 years. Otherwise we traded for ski trips.

Would I do it again? Not sure. Await the new post Irma maintenance fees as well as rumors that EIC is trying to rid itself of timeshares...


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