March 2009 Q & A

Q: We’ve been reading up on timeshares the past few months and what we’ve seen sounds pretty good for what we’d get. But I have to ask, why does timeshare seem to have a bad reputation with some people? –Chris in Denver

A: Chris, terrific question. Timeshare can be a wonderful product for some people. All sorts of benefits to them, as I’m sure you’ve already discovered. The bad reputation comes from the less than upfront way they continue to be marketed–some developers don’t just advertise or market them, they bribe people with “free gifts” and other things rather than extol the many benefits of timeshare. And after the consumers are lured in with the bribe, they are subjected to 90 minutes, 120 minutes, or more of a timeshare pitch, at which point they are asked to make a decision because “the price is only good for today.” As you know, this is a silly at best, demeaning at worst, way to purchase anything. It’s best to consult with a timeshare advisor to make sure you are getting the right product. Happy vacationing!

Q: Recently I attended a time share presentation and I have to say it was not what I expected. Very high pressure selling that made me uncomfortable. Can you tell me some good sources where I could find out what I want to know rather than just what someone wants me to hear? –Marleen in Springfield

A: Marleen, fortunately, there are a few sources that are in the business of educating savvy consumers such as yourself. Here are three resources (and one shameless plug) that I recommend:

1) Get yourself a subscription to TimeSharing Today (www.tstoday.com). It is a great magazine that has tons of useful information and great articles.

2) Become a member of the National Timeshare Owners Association. This group is dedicated to helping owners and potential owners. You’ll learn a lot and possibly get some great contacts as well.

3) Talk to Holiday about your specific timeshare needs. They have a great deal of different types of timeshare available and will help you decide which is best for your needs.

4) Here’s the shameless plug. Work with me at www.timeshareinsights.com. I offer four different Modules. Module 1 helps people decide if timeshare is right for them. Module 2 helps people find the best timeshare for them. I don’t sell or represent any timeshare, so you can be assured that my advice is totally unbiased. If you e-mail me and mention this blog, I’ll honor a 50% discount on either of my Modules for you (and other readers) until May 1st of this year. Hope this helps.

Q: How do you think the current economic situation will affect the value of timeshares? Is it time to sell? –Kathleen in Minneapolis

A: Kathleen, without knowing your specific situation, I cannot give you specific advice, only my opinion. If you are using your timeshare, then by all means don’t sell. If you are having trouble using it, but can rent it, then don’t sell. The value of timeshare has always been a tricky question. You buy it from the developer at $20,000 and immediately the “value” of it drops by more than 50%. Or you purchase it from Holiday Group, for instance, at thousands less and the “value” remains the same. Selling is always an option, as long as you go into it with a clear head. You are not going to make money on it. Whatever you do, don’t ever pay anyone a listing fee to sell your timeshare. If you’d like more detailed, personalize advice, drop me an e-mail and ask me for Module 3. Don’t fret . . . there are always options.

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Lisa Ann Schreier, The Timeshare Crusader is the author of Surviving A Timeshare Presentation, and Timeshare Vacations For Dummies, and blogs for Holiday Group.

Do you have a timeshare-related question for Lisa, “The Timeshare Crusader”? Click here to send your question.

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