Timeshare News – Timeshare Sales Are on the Rise
Timeshare news is a valuable resource for people who want to stay informed about the world of vacation ownership. It’s also a great way to learn about trends in the industry.
TimeShare Sales Are On the Rise
The market for timeshares is strong, according to RedWeek, a website that allows people to buy and sell timeshares online. It expects to see a 43% increase in inquiries and offers in 2021, compared with the same dates in 2019, and the number of searches for timeshares is also increasing.
Despite the strong numbers, timeshare companies are still vulnerable to economic downturns. Several companies have seen their stock price fall as investors bet that consumers would cut spending on discretionary items if the economy gets into a recession.
Investors are also concerned that rising interest rates will make it more expensive to borrow money for timeshare purchases. This can affect their margins.
As a result, they’re looking for ways to generate revenue from other sources. One is by pushing upgrades on existing owners, a move known as “owner sales” in the timeshare industry.
Another source of revenue comes from selling timeshares, which are usually sold for less than what the owner paid at the start. As a result, it’s important to understand how much the value of your timeshare is depreciating over time.
Consumers can do their best to avoid buying a timeshare that’s likely to depreciate too quickly, says Brian Rogers, founder of Timeshare Users Group, a popular online forum for people who own timeshares. He suggests that people ask to see the fine print before agreeing to a purchase.
The best time to sell a timeshare is at the end of its life, and not before. As a general rule, timeshares will have depreciated about 10 percent to 15 percent of their original value within a few years of being purchased.
Some people have also found that they can sell their timeshares for a small fraction of their original cost on the resale market, but this requires careful planning and a lot of luck.
While the resale market is a good option for many people, there’s no guarantee that a buyer will want to buy your timeshare or that the buyer will be able to pay the prices asked by timeshare salespeople.
Having a large network of contacts can help you find buyers. But it’s important to do your research, and make sure you have a lawyer review your contract before signing it.
In addition to a lawyer, a timeshare broker can be a helpful resource. But keep in mind that brokers have their own interests, and can take advantage of yours.
If you’re planning to sell your timeshare, it may be best to work with a professional who can protect your interest and handle all the paperwork. These professionals can be hired through the Better Business Bureau and other consumer protection agencies.
As a last resort, some people can turn to the courts. But this is a time-consuming process and the chances of winning are slim.
