Timeshare Trap

Timeshares are one of the worst investments you can make. This journal is to inform people who are thinking about purchasing a timeshare not to do so and help those trying to get rid of their timeshare.

Sunday, February 25, 2007

Risk When Timeshare Resorts Don't Update Their Facility

One of the risks in purchasing a timeshare is that the owners may not update the facility to keep it competitive.

The Web site for Legends Resort & Country Club in Vernon shows pictures of people skiing, golfing, horseback riding and enjoying a water park.

The resort, which in the 1970s was a hopping hotel as a Playboy Club, describes the "tranquil peace and serenity" of its facilities, which are said to include restaurants, gift shops, a beauty salon, tennis, an outdoor pool and a health spa. But just like many Playboy centerfolds, the reality is something different.

The dark, hulking eight-story hotel in the heart of Vernon Valley is in desperate need of a face lift. Parts of the facade are falling off, and plywood partially covers at least one window. The cracked and deteriorating outdoor tennis courts look as if they were last used in the Bjorn Borg era, and the Olympic outdoor swimming pool has been closed in recent years... Entire Article

Saturday, February 24, 2007

Ten Things You Should Know Before Buying A Time Share

A list of ten things that the time share sales representative won't tell you, but you should really know before you purchase a timeshare from TheStreet.com:

1. Time Shares Are a Lousy Investment
2. You Can Get the Same Time Share for Half the Price
3. You Lose 50% or More When You Sell
4. It’s Cheaper to Rent a Time Share
5. Time Shares Come With Multiple Hidden Risks
6. Miss One Year and You’re Better Off Without a Time Share
7. Trading Isn’t Near as Easy as Claimed
8. If You Can’t Pay in Full, It’s a Terrible Deal
9. Travel Is Not Calculated When Comparisons Are Made
10. Hotel Prices Are Increasing (But So Are Time Share Fees)

If you take these into consideration before purchasing a time share, you are much less likely to fall into a time share trap (because you probably won't get one) and most importantly, you'll be approaching the possible purchase from a financial perspective rather than an emotional one (which the time share sales representatives want you to do).