Florida has the highest number of timeshare properties of any state in the United States. Florida is also home to almost half of the timeshare owners. This goes to show that the timeshare resale market is very tough in Florida.
With the economy being hit so hard and unemployment hitting all time highs, the value of vacation properties is going to hit rock bottom by the end of 2009.
Not only will people be trying to sell and / or rent their vacation units. New timeshare units that have been built over the last several years are still being sold. Competition for the sale will be tougher than ever.
Another dramatic hit to the time share marketplace is the fact that so many people will not be able to afford to take a vacation due to a variety of factors some of which include:
" Job Loss
" Reduction of Wage
" Losses on the Stock Market
" Pensions Disappearing
" Fear
What would fear have to do with taking a vacation?
Well, in times of recession (yes, we are in a recession actually we are in a depression) people become fearful to take vacation for many reasons.
Some people fear that when they are away from work, the boss may like the person that replaces them better and when they come back they may find their position eliminated. Many companies simply add additional work load to others when a person is absent and when it is discovered that a person is not as vital to the everyday business, they become expendable.
Other people feel that they may need to conserve their vacation hours in case they are laid off they will at least be able to receive the compensation for any unused vacation. This is a very real focus for many people, which is why most people take vacation at the end of the year. Yes, the holidays also are a good reason to take days off at the end of the year, but when you are fearful of job elimination having a couple weeks of pay to fall back on can mean the difference between making it financially and loosing everything.
What can be done to get cash quickly for a time share in today's economy?
Well there are the areas a person needs to explore.
First is free online classifieds. A few that I recommend are:
Craigslist, backpage, and kijiji are the 3 most visited classified sites on the net.
Another great way to sell a timeshare quick is to use a company to get cash quickly for your vacation points. The best site we have found for getting cash quickly for a timeshare is www.Timesharefast.com In this economy you have to investigate every option to maximize your return.
If you are even considering selling your timeshare, move quickly or you may lose out. As values drop people will be forced to let their time shares go to foreclosure. Again this will be another hit to timeshare values as foreclosed timeshares are sold at a significant discount.
You do not want to have a foreclosure happen to you. Investigate your option and get cash while you can.
The top timeshare city in the world is Orlando. Imagine this scenario.
You sell your timeshare today.
In 6 months you get a rare promotion and can again afford to go on vacation.
You are able to find a timeshare available for half of what you sold yours for in Orlando. The kicker is the timeshare deals are at EVERY property out there in Orlando. Even the new hot resorts will be had a significant discount later this year.
It is highly recommended to move quickly to sell a timeshare in today. What are you going to do to win?
Florida is going to take a huge beating with the timeshare value collapse. Timeshare foreclosures are going to destroy credit and build up excessive inventory for the resorts.
The time to a Timeshare in Florida is now. |
