The first tip is to be polite, no one wants to receive an email slamming them or making them feel stupid. It is important to remember an initial contact with the owner is basically made to establish a channel of communication. In the initial inquiry it is beneficial to not even discuss the offer you intend on making for the unit. When first contacting an owner I recommend asking simple questions about the unit itself, for example how many bedrooms, bathrooms, usage time, view from room, etc. Once you have established a line of communication you can then make an offer and begin negotiating with the owner. The second tip is to present market research about the timeshare property in question. Presenting a document with market comparables of the timeshare unit when making the offer will show the owner why you have offered a certain price. The best document to have when making an offer is a timeshare market evaluation prepared by Vacation Timeshare Rentals. This document will give you and the owner the selling price of three comparable units that have sold over the past year and will give you an idea of what you should pay and the owner an idea of what they can receive for the unit. Sending a document to an owner from a third party without bias will make the owner feel more at ease with the offer and create a mutual understanding about the value of the timeshare. The final tip we will offer is to keep the line of communication open and try to end the conversation on a positive note. Even if you and the owner are not able to reach an agreement during your initial conversation make sure to let them know they can contact you in the future if anything changes and maybe the two parties can work out a deal at that time. You never know when someone may change their mind and decide to accept your offer, letting them know that you would be open for future contact will keep you at the top of their list if they do change their mind.

We are well aware that many of our readers have been on both sides of a timeshare resale transaction, if you are one of those please let us know about your experience, how did you go about making an offer and establishing communication with the owner? What was the final outcome?

The Good and Bad
There are a couple of trends that I find encouraging for the timeshare industry and timeshare buyers alike. The report indicates that more people below retirement age are beginning to see the benefits of owning a timeshare and deciding to buy a timeshare. This means there is a whole new generation of travelers that will be interested in timeshares and searching for bargains around the world, opening up numerous possibilities for both resorts and the secondary market. I was also pleasantly surprised to find that many of the new owners had decided to rent a timeshare at the resort they were considering before actually purchasing a week. For years I have been telling potential buyers to not only search reviews on the internet but visit the resort itself and view all of the amenities with your own eyes before purchasing. When visiting the resort be sure to note all amenities, likes and dislikes, and services offered by the resort, this will help buyers make an informed decision and be less likely to experience buyer’s remorse when they do finally decide on the resort.

The summary of this report indicated that 4 out of 5 new timeshare owners were still purchasing a timeshare directly from the resort. This shows that travelers are still overpaying for timeshare units and made to believe that purchasing from a timeshare resort is the best option. However, in the resale market the same unit can be purchased for a fraction of price, regular readers of this blog know how big a mistake these new owners are making by purchasing from the resort. One of the main reasons those surveyed gave for purchasing the timeshare was cost savings in the future, why not purchase a timeshare resale and save thousands of dollars from the very beginning of the experience. This shows many people do not know about purchasing a timeshare in the secondary market before it is too late.

Overall timeshare owners have been happy with their experience as 86% of them said that owning a timeshare was an excellent, very good, or good experience. What do you think, how has your timeshare experience been?

Timeshare Exchanges - Many timeshare owners belong to a timeshare exchange company allowing them to have greater flexibility with their timeshare by depositing their week into a collective pool and using another week that has been deposited/banked by another owner. There are two main exchange companies, Resort Condominiums International (RCI) and Interval International (II). Most resorts belong to at least one of these exchange companies, before purchasing a timeshare with a given resort we recommend researching the timeshare exchange company they are associated with to find all fees involved and the other areas that you would be able to travel once you have deposited your week.

Contact Multiple Owners – If you are looking at houses in your area you do not only look at one house then wait for everything to fall into place before continuing your search, you continue to look at other houses in the neighborhood/area you are interested in, the same is true when shopping for timeshare resales. We recommend contacting as many timeshare owners trying to sell as possible even if you feel you have found the best possible option, this will give you the best chance of finding the right unit to fit your needs. Vacation Timeshare Rentals has organized our site to allow users to search for timeshare resales by resort name giving the user the opportunity to view all resales at the given resort at one time making it possible to contact many timeshare owners in a short amount of time. It is also important to contact many owners if you have a special need for your timeshare, for example if you need a ground floor unit or require a timeshare with an ocean view.

Do Not Rush – While going through this process and finding the right timeshare it is important to not rush the process, make sure to find the exact unit you are looking for and stick the budget you have established. There are literally thousands of timeshares currently available in the secondary market, this creates a buyers market so if you are unable to strike a deal with the first couple of owners you contact do not worry and move on to the next option. This also helps you in the negotiation process, if you know that someone else is asking a lower price or providing some other advantage let the next person know and they may be more willing to deal with you.

We hope you find this checklist helpful during your search, if you are just starting this process you will probably find that there are other things to consider as well, if you would like to share them please feel free as it will help others in the future. If you are ready to search for the perfect unit please visit our timeshare resales section.

Researching Different Resorts – This is another important step that many people will over look when purchasing a timeshare. It is important for the new owner to know exactly what they are getting themselves into, remember the phrase “You get what you pay for”? Sometimes the lowest price items may not be the best fit for you and your family; however there are many excellent deals at five star resorts to be found. During this step the potential buyer should research the different resorts in the area they feel are most suited to their needs. Once the list is narrowed down to a few resorts they can then begin to research others opinions regarding the resort on the internet, Vacation Timeshare Rentals has a section of the site solely devoted to providing owners with the opportunity to provide a timeshare resort review, this is the best place to start. You may also want to visit sites like TripAdvisor.com, and even contact owners who have listed a timeshare for sale or rent asking their opinion of the resort.

Research Past Sales At The Resort – Once you have found a resort that suits your needs you will then want to try to establish an amount you expect to pay for a timeshare at the resort. During this step it is important to remember you are not trying to find the value currently being charged by the resort, you are looking for the timeshare’s value on the secondary market. Think of it as if you were searching for a used car, to find the correct value you would not search for new cars with the same features. This value can be a little tricky for an individual to find on their own as there will be a wide range of asking prices for the same type of unit because others may be over valuing the timeshare they own and are trying to sell. Recognizing this can be an issue we offer a service providing you with the fair market value of the timeshare resale, please visit the following page to request a timeshare evaluation. This evaluation is also a very useful tool in the negotiation process.

Establishing A Budget – Once you have established the value for the timeshare unit you can then begin putting together a budget and start saving for this expense. Many people neglect to include the other expenses they will incur during the purchasing process. Of course the main fee is the amount paid for the timeshare, however when you plan your budget make sure to include the closing costs, transfer fees if applicable, and yearly maintenance fees. There are many different timeshare closing agencies out there we recommend using Timeshare Title, who will perform the complete closing on the timeshare for $375. Be aware that some resorts do charge a transfer fee when the timeshare ownership is switching hands, not all resorts charge new owners for the transfer of the deed. Finally make sure to take into account the maintenance fees that are paid for each usage period, obviously the amount of these fees will depend on the resort and the size of the unit.

Taking the factors into consideration will help you find the right timeshare to purchase and will help new owners rest assured they have made the right decision. Please click on this link to begin searching for timeshare resales.

Location – Everyone is familiar with the term “Location, location, location”, this saying is true as well in the timeshare industry. Since most timeshares are purchased from an individual resort your family will most likely be traveling back to the same location for a number of years, it is important to make sure the timeshare resort itself is in close proximity to a number of attractions that interest the individuals in your party. For example a family with a few small children may want to be close to Disney so they may consider purchasing an Orlando timeshare or even a Disney Vacation Club property. On the other hand a young couple in their mid-twenties may like to check out the party scene and search for a Las Vegas timeshare property.

Size of Unit - When conducting a search for the right property it is also important to determine the correct size of unit that will provide you with the level of comfort you desire while on vacation. The young couple mentioned above may only need a studio or a one bedroom unit where as the family with a couple of children will want at least a one bedroom and most likely two especially as their children grow up. Because you will own the timeshare for many years you may also consider the future plans for your family, do you want to be able to travel with extended relatives and allow them to use your timeshare while you are there, and are there plans for another child coming into your family in the future? Taking the time to consider these possibilities before you purchase may save you some headache in the long run.

Usage Time – This is a very important factor that some people may overlook, usage time refers to the time during the year that you will be able to stay at your timeshare property. This brings up the question of whether to purchase a fixed week as oppose to purchasing a floating week. A fixed week implies that the week purchased is used during the same time period each year and usually specified by a number from 1 -52, representing each week of the year. The fixed weeks are good for travelers who are only able to travel during a specific time each year, it allows them to rest assured they will have accommodations available to them during that time. The floating week timeshare allows the owner to have more flexibility by giving them the option of using the week at anytime throughout the year depending on availability. The floating week is more of a gamble as the requested week may not always be available. The final decision is up to the traveler and the best fit will vary from situation to situation depending on a number of different factors.

Keep in mind these are just a few of the factors that should be considered when searching for the right timeshare, in our next blog we will take a look at some factors involving the purchase price of a timeshare and establishing a reasonable budget for the timeshare purchase. If you are ready to search for a unit to purchase please visit our timeshare resales page.

Instead of behaving like other pieces of property a timeshares value will behave more like that of a new car when purchased from the resort. For example let’s say you visit a car dealership and find a car to purchase, once the car is driven off the lot it immediately depreciates in value. The reason for the immediate depreciation lies in the secondary market for the car you just purchased, there are other owners who have purchased the same automobile but now have decided to sell it for one reason or another. Obviously an individual will not be able to sell the same car the dealership is selling for a higher price or the same price so they must offer the car at a significant discount to prospective buyers to draw interest. The same phenomenon happens in the timeshare industry, when an owner has purchased a timeshare directly from the resort and tries to sell it they will find the offers they receive are significantly less than the amount they paid directly to the resort. Unlike purchasing a new car deciding to buy a timeshare resale provides the new owner with the same accommodations as the first owner or any other owner who has purchased a timeshare directly from the resort. When a person purchases a car in the secondary market they can not be sure how well the car was maintained, the car will have some miles on it, and there will be other subtle differences between the first and second owner. However the person purchasing a timeshare resale receives the same accommodations, same service, same week of travel and advantages the initial owner would have received when they purchased the timeshare.

Regular readers already know the advantages of purchasing a timeshare resale when compared to purchasing a timeshare directly from the resort. There are plenty of timeshares on the secondary market at this time and the deals have never been better. Rest assured the price of timeshares on the secondary market will begin to gain value again when the economy completely turns around, if you have been considering purchasing a timeshare the time is now.

Earlier in the week an article concerning the Lawrence Welk Resorts was published providing an overview of a recent agreement between Wellington Financial and the Welk Resorts Group. Wellington has agreed to loan Welk $10 million to help finance sales to new timeshare owners. Recently banks and other institutions have been very leery about lending money to timeshare related operations, hopefully this action shows that credit will again be extended to help fund the operations of various timeshare resorts and ownership companies. Given the recent lending history I think this transaction shows a great amount of trust in the company and signs that Wellington has enough faith in this industry to begin lending out money again. Another story involves Disney Vacation Club and Citigroup, perhaps the largest company in the financial sector. Around the beginning of the decade Citigroup had agreed to purchase timeshare mortgages from Disney, due to the recent recession Citigroup was unable to continuing purchasing these mortgages. In an effort to retain this partnership Disney has agreed to assume $200 million of the liability for the transactions made. Under the original agreement Disney was required to cover only 18% from the principal in the event of any losses, however under the new agreement Disney is responsible for up to 70% of the total amount of losses. When a company with as many stakeholders as Disney has agrees to assume risk like this it normally means that the company leaders feel there is a bright outlook for the future of the company, after all it boils down to the company taking a calculated risk in order to preserve this relationship in the long run. The last story that shows signs of promise involves Marriott Vacation Club; recently Marriott has announced the opening of an expansion for their resort Marriott Maui Ocean Club and plans for the expansion of another resort Marriott Ko Olina Beach Club. The newly opened expansion phases added 71 new villas to the property including both two and three bedroom units. Again the expansion of any timeshare property involves a certain amount of risk, with a bleak outlook I do not think this company would be willing to take on the risk, however with a strong outlook the risk will yield rewards in the end.

With the major players in the industry beginning to make moves to align themselves for the future now is certainly the time to buy a timeshare resale. Currently units are selling for an all time low in the secondary market; rest assured though when the market picks back up the prices will begin to rise. Please visit the following page to search timeshare sales while it is still a buyer’s market.

In an interview with Bloomberg News Wyndham CEO Stephen Holmes provided all stakeholders with further signs of hope. In this interview Holmes states that his company has been looking into further expanding its timeshare operations by purchasing older hotels and resorts to convert them into timeshare resorts. In a period of time when many companies are scaling back operations and looking everywhere for reductions in cost it is very promising that Wyndham, one of the largest timeshare companies, has decided to move forward and expand its operations. Holmes also stated that Wyndham timeshare resorts were actually converting more timeshare tours into sales when compared with the numbers from last year. This could show that travelers are now beginning to loosen up just a bit and willing to spend more of their hard earned money on traveling and other leisure items. Hopefully this trend will continue as some analysts are predicting the recession to end by the end of 2009.

Even though Wyndham has reported they are converting a higher number of timeshare tours and probably offering the units at a discounted rate, readers of this blog will realize there are still better deals to be found in the secondary market. Wyndham timeshares are selling for pennies on the dollar right now, partly because of the state of the economy and families are looking everywhere they can to cut costs. Please visit this page to search our timeshare resales. The interesting and most attractive concept of Wyndham timeshare resorts is the fact that most of them operate under the points based system, allowing owners of anyone of their resorts to visit any of their other resorts. Points based systems have become very popular in recent history due to flexibility it allows the owner to have in planning their vacation and searching for accommodations.

Vacation Timeshare Rentals has recently signed up for a Twitter account and would like to invite you to follow us on twitter. There are multiple ways you can find us on twitter, our Name is listed as “VacaTimeshareRentals”, while our username is “VacTimeshareRen”, however the easiest way to find us is by going directly to our Twitter homepage, http://twitter.com/VacTimeshareRen. We are going to use this account to announce hot timeshare deals, advertising deals we offer to owners, host contests, and keep our followers up to date with the latest news in the timeshare industry. This will no doubt be a useful tool for both timeshare owners and non-owners. If you do not have an account with Twitter, it is free and easy to sign up, and all you need is an email address. To sign up for an account you can follow this link to Twitter.com. We look forward to seeing you on this site and passing along timeshare deals and news.

With the economy currently in a down turn many people are beginning to try and sell some of their assets to free up extra cash. There are many people who are desperate to sell a timeshare as well as other items they own due to the loss of a job or fear of losing their current job. This increases the competition each owner has in selling their timeshare, due to the high amount of competition the asking price of many units have been driven down. Potential buyers can use this to their advantage by comparison shopping on multiple sites on the internet, be sure to mention the lowest prices found when contacting an owner and beginning the negotiation process. The next reason many timeshare owners are looking to sell is they have an outstanding balance on their timeshare mortgage, combine this along with paying yearly maintenance fees and special assessment costs and some people have found it overwhelming to continue to own a timeshare. When purchasing a timeshare directly from the resort, the new owners will in many cases acquire financing through the resort, normally with a high interest rate. In order to relieve themselves of this burden many owners will try to sell a timeshare for the amount they still owe on the note or in some cases even below the balance so they can pay the debt quicker. Another reason that many people are trying to sell their timeshare is they have found they are no longer able to use it. This can happen for a number of reasons, one that I commonly hear is that the timeshare was purchased in a location that catered to young children however children eventually grow up hence the location is no longer viable for the parents/family to use on a regular basis.

Regular readers of this blog already know the savings advantages you receive when purchasing a timeshare resale as oppose to purchasing directly from the resort. There are many factors that contribute to the discounted price for these resales; the above reasons are just a few. Vacation Timeshare Rentals as many ways for potential buyers to search timeshares for sale. As always I recommend doing all necessary research before purchasing a timeshare, for example find comparable sales and research the yearly maintenance fees for the resort you are considering so there are no surprises when the transactions is made final. If you have recently purchased a timeshare in the secondary market we would love to have your input on some of the methods you used for researching the property and how you were able to find the right property.