What Is The Market Value Of My Timeshare?
Timeshares are notoriously difficult to price. There are too many of them on the resale market (and by too many, I mean millions). A quick Web search will yield you a list of thousands of timeshare for sale. Visit the Timeshare Users Group, and you'll see hundreds of threads dedicated to selling, reselling and renting timeshares. Go on eBay or Redweek.com, and you'll find more timeshares than ants in your backyard. In light of an overcrowded resale market, I'm going to share with you a few factors to consider, which will help you accurately gauge the price of your timeshare.
Weeks – Is your timeshare a Red week or Blue week? In other words, is your week a peak week or an off-peak week? Knowing this will allow you to get an immediate gauge of your timeshare's worth. To be blunt, the only timeshares that are going to have any major staying power are going to be the Red weeks. If you have a Blue week, be prepared to sell your timeshare at a thousand, and considerably less.
Points – If you're on the point system, then it's a gamble. Even owners with 300,000 plus points aren't able to sell their timeshare at a premium rate. Keep in mind, though, that points are a major sales pitch. The more you have, and the more rewards they give you at your particular resort, the higher your asking price may be.
Gauge the Market – This is going to sound like a no brainer, but you're going to want to gauge the market value of your timeshare. This means you're going to want to scour Web sites and see what similar timeshares are going for in your region. You're not going to get the exact price, but treat this like you would a car dealer's prices. See the prices, and go down 25% to be more competitive. If a similar timeshare is only going for $500, it's going to be a long shot that you'll make more than the asking price on these sites.
Most owners have trouble selling their timeshare at the market value because of the financial obligation that comes with it, especially in light of the fact that resorts rent out the same timeshares to the general public at a fraction of the cost. In light of the difficulties some owners have experienced trying to sell their timeshare, many of them have utilized a timeshare transfer service such as Timeshare Relief to help them get rid of their timeshare.
About the Author
Tracie Newcastle is a freelance writer based in Los Angeles. She is also a timeshare consultant for the timeshare industry helping timeshare consumers understand the nature of the industry as well as their timeshare relief options. Whether you are trying to buy, sell, rent, donate, or straight up get rid of your timeshare, Tracie Newcastle is here to help.
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Timeshare Resale SCAM Executive Resorts International - Exclusive Property Managers
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