| Subject: Re: South Africa? Is the demand really that high?? |
Posted by: Sparrish E-Mail: GRHP39B@prodigy.com
Date Posted: July 31, 1998 at 10:58 MDT
In Reply to: Re: South Africa? Is the demand really that high??
posted by: Wayne on 7/31/98 at 07:51 MDT
| After reading the many, many posts and following this heated debate, we did the deal today and here is why: 1) The great price quoted by International Condominiums Wholesalers is in line with the prices set by Dikhololo owners who are selling their units through classified ads (check Dikhololo Connection). So, while it is a fabulous price for those of us in the US - it is an average price for this resort for South Africans. 2) The great price is in line with many other International resorts. It is possible to purchase weeks for these prices in the Canary Islands, too. The difference is that the Canary Islands aren't in as high demand and certainly wouldn't "trade like tigers." 3) The maintenance fee, of course. Jeff Crouch at ICW told me that the maintenance fee has come down from $146 five years ago to the current $108. So, even if the rand rebounds by as much as 50% - the maintenance fee is still reasonable. 4) A comfort level buying outside of the US. This is our third property outside of the US and we have not had any problems. And, shoot, there's a volcano near Antigua AND it has been hit by a hurricane since we owned. 5) A comfort level buying at an independent resort. Resort amenities are not a real issue with us. We like adventure and smaller, independent resorts certainly can provide adventure. All five t/s we own are independent and trade through RCI. 6) A comfort level with ICW. I spoke at length with Jeff at ICW and feel comfortable with his knowledge of the business. He is, as others have stated, very low pressure and forthcoming. He also has a lot of experience selling this resort (five years) and sold his own properties (Lawrence Welk and Vistana) to own at Dikhololo. 7) If it trades the way everyone says - it is worth the risk. Our Caribbean weeks trade like champs and one more that trades even better is more than welcome into our little fold. Good luck everyone! As of yesterday, Jeff was hearing from many of us as a result of Tom's post. What the heck - you only live once! Sandi (sparrish) |
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