This question was asked on Friday, March 5th, 2010 at 4:36 pm and is filed under Timeshare Vacations. You can follow any responses to this entry through the RSS 2.0 feed.
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rikkis_playpen
Welcome Bing! For a guy who really seems to hate happy timeshare owners, you sure spend an awful lot of time trolling around timeshare websites..
First, timeshares are not a financial investment.. They almost always lose value over time. Like many luxury items, the true value of a timeshare ownership lies solely in its usage!
It’s also important to understand that how a timeshare is purchased can have a drastic impact on it’s rate of devaluation. Resale prices are often 50 to 60% lower than developer pricing. A resale buyer is always in a much better position over time, simply due to the incredible savings on his initial purchase.
Secondly, there are two things to consider when thinking about Mr. Ramsey’s point of view. I occasionally enjoy Mr. Ramsey’s show, but I don’t believe he is giving you the whole truth here..
In the past, Dave Ramsey has promoted Donate for a Cause, a timeshare reseller.. Donate convinces people to give up top-tier branded timeshares for free, or requires the owner to pay a large fee to “get rid” of the property for second-tier brands.. They then advertise and sell these properties for a profit! Like any type of real estate, as long as a property is priced correctly and advertised in a good venue that provides ample exposure- it will sell!
Another thing to consider is that Mr. Ramsey’s point of view is naturally skewed. His show focuses on individuals with serious financial problems, often caused by a history of poor decision making. This demographic is not a true representation of the majority of timeshare owners.
Studies have repeatedly shown that the vast majority of timeshare owners report a positive ownership experience (ARDA’s 2009 Vacation Timeshare Owners Report reported an 86% rating).
There are numerous scams related to timeshare, often targeting individuals hoping to sell. It’s very important to ensure you work with a respected brokerage or marketing brand. Timeshares Only, the sponsor of this site, is a great resource for sellers. Price properly and get as much exposure as possible. You will sell!
If you are interested in buying, just be sure to take your time and learn about the program before your make your purchase. A timeshare should never be an impulse buy! If you purchase a property you can consistently use and enjoy- you’ll join the ranks of the happy owners!
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