NBC's Mark Potter explores how downturns in the real estate market have also impacted the timeshare industry, which currently includes more than 7 million part-time property owners in the United States. Some are finding it increasingly difficult to sell timeshares, often recouping only 20 cents on the dollar. However, there is good news for many owners. As SellMyTimeshareNOW CEO, Jason Tremblay, explains to Potter, "Timeshares at big name resorts actually hold their value." Owners at Marriott Vacation Club, Hilton Grand Vacations Club or Disney Vacation Club resort, for instance, generally recoup a much higher percentage of their purchase price when they sell. And for buyers and renters, the downturned economy is a great opportunity to find these luxury timeshares at great prices. New buyers are cautioned to be sure they can afford the maintenance fees or homeowners' fees before making any timeshare resale purchase.
Even for owners with timeshares at smaller, older resorts, there is hope. Because timeshare values are dependent on supply and demand, the likelihood of selling a timeshare comes down to pricing the vacation property aggressively. If you want to know the current resale value of your timeshare, take advantage of our free market value survey.
*Sell My Timeshare NOW was also recommended on the Today Show in August of 2008. Click here to read more about Sell My Timeshare NOW on the Today Show.