Credits vs. Second Home
Buyer clients will often ask me Do you own WorldMark credits? to which I can honestly answer Absolutely. Unlike many salespeople, I really do believe in what I'm selling. I think WorldMark credits represent a certain and growing value as a vacation product, and they can serve as a hedge against economic uncertainty, too.
In fact, I'm such a believer in WorldMark credits that my wife, Carla, and I have begun to assemble a large number of credits into what we term our second home account.
We have 25,000 credits in this membership, and our plan is to continue to add six to eight thousand credits to that account each year until we retire. This would leave us with 100,000 plus credits to vacation with every year until we run out of years or energy. Furthermore, we feel this package would ensure our 3 kids and their families could vacation for their lifetimes, too, all the while building in value while saving on vacation expenses at the same time.
Consider: if you bought a vacation home in California, Nevada, Hawaii, or Florida recently, you're probably uncomfortable with the amount of your investment you could recoup if circumstances forced a quick sale. You may even have paid cash for it, but you still might not be able to borrow against or liquidate your property due to the current financial upheaval in the housing and mortgage marketplace. WorldMark credits, however, are VERY liquid. Our inventory is currently turning over in a 40 day cycle. That's right. We sell membership on average in 40 days. And we've been doing this now for over 14 years!
At current market prices, any of us could assemble 100,000 credits for as little as 75 to 80 thousand dollars. Annual dues on this membership would be 82.16. If one booked only one bedroom, all blue weeks, you'd get 24.60 weeks per year for your dues, so you'd pay 4.05 dues per week of vacation. If you booked only one bedroom, all red weeks, you'd vacation 11.59 weeks per year at a cost of 9.44 in dues per week of vacation.
Advantage: CREDITS! No maintenance headaches. No rental agreements. No property taxes or HOA fees (these are all paid for you thru your WorldMark dues.) No vandalism, no mortgage fees, no mortgage insurance. No single location, unless you choose. No limit on unit size, or even units used at one time. No worries about liquidity if you need out FAST.
My staff and I will be expanding on this expanded use of credits in lieu of vacation property over the coming months. As we develop the analytics, we'll be sharing them with you, our loyal audience of enthusiastic WorldMark owners. Stay tuned.
Timeshare Liquidation Service, llc