Timeshare Scams hit Sacramento
Timeshare scams are not affecting the citizens of Sacramento. Transfer America reports on the newest consumer complaint which involves timeshare owners in Sacramento. The Department of Real Estate warns California residents to be aware of the phony offers spewed by scammers to sell or buy timeshares for a fee. The DRE claims that “typical scams involve promises of a quick sale in exchange for upfront ‘paperwork’ fees”. Once the company receives the money, the timeshare owner will never hear from them again.
For example, the Better Business Bureau warned consumers about a timeshare resale company called First Capital Financial Services Corp. from Las Vegas. This company cold calls timeshare owners claiming to have a buyer who wishes to purchase their timeshare. According the BBB, timeshare owners paid the company more than $2,000 for a non-existent service. There has been over fifty complaints against this company from victims of this company.
Delta, Unsupported
Transfer America reports on an article discovered on MSNBC about Delta Airlines raising their prices yet again. However, this time, their attempt at raising the price failed. In order for the prices to be raised, all airlines must support each other.
Rick Seaney, CEO of FareCompare.com, stated “It is unusual for a legacy airline not to have at least one other airline match a domestic hike attempt. In this case crickets could be heard chirping as none of Delta’s peers lifted a finger in support, leaving them on a limb with uncompetitive pricing for two days.”
Delta allegedly raised their ticket prices from $4 to $10 Tuesday morning. This increase in price was only pivoted towards the U.S. route systems and it was their second domestic increase in just a week. Seaney commented on Delta’s actions, “This comes right on the heels of Delta initiating a $20 fare hike on long-haul flights and JetBlue doing a shorter-haul hike last week. It looks like we’re tracking almost like last year which was basically ‘let’s get a bunch of fare hikes in early’ because they had a lot of trouble raising prices later in the year.”
The three ingredients in creating a fair ticket price are competition, fuel prices, and supply and demand. At the moment, all three are creating a recipe for disaster, which means higher ticket prices.
Best Way to Escape
Many timeshare owners have now begun to understand the financial burden of their once loved timeshare. These owners made an emotional decision when they made the commitment to purchase a timeshare at a sales presentation. However, as years passed, maintenance fees started increasing and taking time off work for a vacation was no longer a wise decision in this economy. But the main problem of owning a timeshare is that the contract is perpetual, which means forever. Once you sign a timeshare contract there is no escaping.
Therefore, many timeshare owners are seeking for a way to get rid of their timeshares once and for all. Since there is no resale market for timeshare, many timeshare resale companies have been created to help owners out of their timeshares. Though some of these companies are honest and hardworking companies, more than half of them are scams. These con artists often use strategies to convince timeshare owners to pay for their services. For example, never pay an upfront fee. Some timeshare resale companies will tell you that they have a buyer waiting to purchase your timeshare. However, once you pay them you discover that there was no buyer and suddenly you cannot get in contact with the company.
On the other hand, there are other options such as donating your timeshare or even renting it out. But charities who do accept timeshares are extremely limited and are picky about which timeshares they will accept. Subsequently, when trying to rent your timeshare you are competing with thousands of other timeshares and resorts who might be able to afford lowering their price.
Though there are different options out there for timeshare owners not all of them are real businesses who care. At Transfer America, we transfer the title out of your name so that you are no longer responsible for the timeshare. If you want out of your timeshare for good, make sure to contact a representative at Transfer America today.
New Timeshare Development?
An article on WMBF news, revealed residents of the North Beach Plantation community is concerned about the new management trying to turn empty units into timeshares. These residents are worried that this new condo development will lower their home values.
Apparently, Horry County Register of Deeds shows the previous owners of the mortgage had defaulted on their payment and was sold to Starwood Capital Group this past December. When asked to comment on the potential timeshare plans, the company did not respond to any request made.
Blake Sloan, a real estate expert, stated that the property owners have a right to be concerned if the new management plans on turning empty units into timeshares. However, there is no proof that timeshares will decrease
“property value of owner-occupied units”. In addition, with the right management, timeshares could benefit the condominium as a whole by allowing management to seek out better maintenance.
Sloan also stated, “”I think it’s definitely a reason to be concerned, but at the same time after actually seeing some data in regards to what happens when a timeshare or vacation ownership does come in there, in times like that it can actually be a benefit”.
If you are a owner of a timeshare and wish to rid yourself of your unwanted timeshare, contact Transfer America today so that you can visit the wonderful Myrtle Beach.
Timeshare Mega Media Scam
While reading an article on Sun Sentinel, Transfer America discovered that thirteen employees at a timeshare resale firm admitted to committing fraud. These employees worked at Timeshare Mega Media and Marketing Group. While working there they constantly lied to clients, who wished to get rid of their timeshares, by convincing them that there were buyers already lined up to purchase their timeshare.
These employees would take thousands of dollars from these owners and told them that this ‘administrative fee’ would be refunded later. Some of these timeshare owners gave this company $10,000 dollars because they were so desperate to get out of their unwanted timeshares. However, it was soon discovered that there were no buyers. The authorities described this company as a ‘naked fraud’. Timeshare Mega Media was run by two convicted felons and according to the Federal Trade Commission, these two men stole about $5 million from timeshare owners in less than a year.
In July 2010, FBI agents raided the company office and arrested those responsible. The FTC then filed a lawsuit against Timeshare Mega Media. Though the prosecutors have just focused on the low-level employees about 15 have been arrested and 13 pled guilty to committing fraud. These employees are still awaiting sentencing. One of the other two employees recently died and the other cut a plea deal.
DAE Hosts a Timeshare Seminar for Owners
The third Vacation Ownership Seminar hosted by Dial an Exchange has been set for January 28th. This seminar will take place at the Florida hotel and Conference Center near downtown Orlando at the Florida Mall. Dial an Exchange is a worldwide exchange company with offices all over the world. They provide services that help timeshare owners fully enjoy their vacations where and when they want. They make it easier for timeshare owners to experience all that their timeshares have to offer.
The first seminar was such a success that DAE made the decision to continue hosting the event at different U.S. locations. Timeshare owners that attended the seminars found the information highly valuable and asked tons of questions about their timeshare ownership. The seminar helps inform owners about more specific details regarding their maintenance fees as well as what sort of rental or exchange options they have. Some timeshare owners are interested in how they can transfer American timeshare property to a timeshare in a different country.
This company is truly devoted to timeshare owners rights. They began back in 1997 and have since grown immensely. In order to support their 275,000 members all over the world the company has expanded from a single office located in Australia to having offices in locations all over the world in nearly every continent. This may seem strange that a business focusing on providing helpful timeshare information can grow to such a size, however, if they did not provide seriously helpful information they would not have grown to what they are today and be able to provide such informative seminars all over the country.
Transfer America Reports On Timeshare Occupancy Rates In 2010
AIF State of the Vacation Timeshare Industry: United States Study, 2010 Edition, prepared by Ernst and Young
This report comes from a newly released State of the Vacation Timeshare Industry: United States Study, 2010 Edition. Back in 2009 the timeshare industry had reported an average of 79.7% occupancy. The hotel industry only managed 54.7% which would suggest that the timeshare industry is doing quite well.
The data basically states that for the most part timeshare resorts are maintaining an occupancy rate above 50%. Aside from a minority 12% of responding resorts that participated in this survey, only United States resorts were included, reported an occupancy rate below 60%. Not only are there very few resorts with under a 60% occupancy, but about 50% of all surveyed resorts have 80% occupancy rates, and 34% are as much as 90% occupied.
This report gives credence to the fact that timeshares are put to good use, however there has yet to be data about the majority of timeshare owners. Transfer America knows that there are timeshare owners who are trying to get out of their timeshares. The reasons for these owners trying to find exit solutions is due to a number of reasons, financial or otherwise. But the fact remains that there should be more viable methods of getting out of your timeshare contract, and this is why Transfer America was started, to provide a guaranteed timeshare exit solution to those who are no longer interested in timeshare ownership.
