Which means there are fantastic opportunities for people who want to buy them, if they know where to look and how to buy. The U.S. timeshare industry grew out of condominium developers need to unload overbuilt resort properties in the 1970s. That s why they ve turned timeshare units into tradable assets that can be swapped for varying products, including other timeshare units, hotel rooms, airfares, car rentals, even cruises. The best strategy, however, is probably to steer clear of the big developers and instead look for bargains in the resale market. A fixed-week timeshare entitles its owner to a furnished unit for the same week each year, or a floating week during a designated season.
Owners pay annual maintenance fees that vary widely depending on the facilities and services.
Supply and demand determine what s available. Raymond Johnson, an environmental lawyer in Temecula, Calif., recently bought 15 units in a development in Antibes on the French Riviera. Most were foreclosed units being auctioned by the owners association. Each unit entitles him to occupy a suite during a specified week for 90 years. Johnson resold some of his units on eBay and through a listing on the Timeshare Users Group Web site.