Own in Watersound for $275,000

Give St. Joe credit.

Credit for what?...timeshares have been around since the Nixon-era :idontno:

Gotta admit, the e-mail does lack the thrill and drama of the "in your face" sales interrogation of other timeshare come-ons....but the looking over the list of amenities begs the question, "Do these units have granite countertops??":confused:

Of course!

http://www.emeraldcoasttours.com/watersoundprcmodel

Kut -
Your work is excellent as usual! Thanks for sharing!

Credit for what?

Making me curious enough to open the e-mail! (by contemplating that something in Watersound could be bought for $275K). Alas, only to read about the dreaded time-share :bang:

Making me curious enough to open the e-mail! (by contemplating that something in Watersound could be bought for $275K). Alas, only to read about the dreaded time-share :bang:

Actually these TS units are an outright lousy deal for a buyer. You can own a whole 2 bed, 2 bath in Watersound for $999k (list price and can probably be had for less) or a 3/3.5 for $1.3 million. The 1/8 timeshare at $275k equates to a price of about $2.2 million for the entire 2/2 unit. The only good deal on these units would be for Joe who would make a killing off the units.

If you want a timeshare, there are resales for $200k in Watercolor and a 1/6 timeshare for $200k in Rosemary. If I wanted a timeshare (which I don't), I wouldn't touch them unless they were under $90k (equates to $720k for a 1/8 share of a 2/2 in WC or WS and $540k in RM).

It will be interesting to watch this one over the next 12 months or so and see where the price goes ...

Actually these TS units are an outright lousy deal for a buyer.

That being said, this bargain does not include fees & assessments, but use of a beach cart is included.

Yes, I am with you.

Hey, Ya'll. I'm not saying the Wateround offering is a good deal, but it's not a time share, which yes, you should generally run away from with great haste.
Sounds like what they're offering is a fractional ownership, whereby the owner will have title to 1/8 interest in the property, not just a right to lease the property, as in a time share. Some fractional ownerships can be a good idea, some not, but you do have ownership. Generally, the corporate offerings of fractional ownerships carry very substantial monthly fees. Fractional ownerships that represent good value are bought and sold all the time.

It will be interesting to watch this one over the next 12 months or so and see where the price goes ...

I'd toss these on the heap along with JOE's attempt to push the $20,000 (for a limited time!) Watersound Beach Club memberships.

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Hey, Ya'll. I'm not saying the Wateround offering is a good deal, but it's not a time share, which yes, you should generally run away from with great haste.
Sounds like what they're offering is a fractional ownership, whereby the owner will have title to 1/8 interest in the property, not just a right to lease the property, as in a time share. Some fractional ownerships can be a good idea, some not, but you do have ownership. Generally, the corporate offerings of fractional ownerships carry very substantial monthly fees. Fractional ownerships that represent good value are bought and sold all the time.

So you're saying this offering by JOE is a bunch of crap as fractionals go.


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The WaterSound Beach Private Residence Club is a collection of 21 three-bedroom,three-and-a-half bath, fully furnished luxury residences. Owners receive a deeded 1/8 fee simple interest in a residence that entitles the Owner to a minimum of five weeks stay in the Private Residence Club each year.

:confused: Hey....wait a minute...wouldn't a 1/8th share entitle the owners to a minimum 6 weeks stay? (6x8 = 48 weeks)

Does JOE get the extra weeks to rent out? Is that why they called it "timeshare" in the e-mail? Or are only the "Fees and Assessments that MAY APPLY" going to be split 8 ways. Enquiring minds would like to know.

(I'm pleased to know that the units do sport granite countertops...thanks Kurt for clearing that up. Top Ramen doesn't nearly taste as good on Corian?)

:confused: Hey....wait a minute...wouldn't a 1/8th share entitle the owners to a minimum 6 weeks stay? (6x8 = 48 weeks)

Does JOE get the extra weeks to rent out? Is that why they called it "timeshare" in the e-mail? Or are only the "Fees and Assessments that MAY APPLY" going to be split 8 ways. Enquiring minds would like to know.

(I'm pleased to know that the units do sport granite countertops...thanks Kurt for clearing that up. Top Ramen doesn't nearly taste as good on Corian?)

In a true fractional ownership, the most likely scenario is that the extra 4 weeks would rotate through the owners year to year, so some years an owner would get 7 and other years 6. The owners would own all weeks and the developer or seller would not have any interest after all fractions are sold. Any scenario where a 1/8 owner only got 5 weeks in a year is most definitely a rip off of some sort.

Each owner would be responsible for 1/8 of the RE taxes and 1/8 of the HOA dues. After the developer is out of it, fees and assessments come only from the HOA.

Any scenario where a 1/8 owner only got 5 weeks in a year is most definitely a rip off of some sort.

Gee, Beaver...ya think??



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:confused: Hey....wait a minute...wouldn't a 1/8th share entitle the owners to a minimum 6 weeks stay? (6x8 = 48 weeks)

Gee, ya think Beav? (I was agreeing with you, obviously).

Gee, ya think Beav? (I was agreeing with you, obviously).

I know......