RedWeek's own new point system!

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Original Message:

Re: RedWeek's own new point system! (by Mike N.):

marylin1 wrote:
mike1536 wrote:
marylin1 wrote:
I requested a valuation in November but I let it expire. I requested another valuation in January and was very disappointed to see that the offer had dropped virtually 500 points. I could understand this if I had a low season week but this is a peak season week which would probably be exchanged very easily. This does not give much incentive to bank with Redweek
=========== Marylin, You are not alone

See various posts on the topic ‘Warning – Re Timeshare Exchanges’ under the Forum ‘Timeshare Exchanges’ (http://www.redweek.com/forums/messages?thread_id=10533).

RedWeek will award more points the earlier people deposit, but since RedWeek does not reduce the value for those weeks in their system, as time goes by, owners who deposit later and looking for a comparable exchange, will not have enough points.

Here’s an example I used in the other topic. I have a 2 BR unit during July in Virginia. Right now, through Interval International, I can exchange my unit for a 2 BR Marriott in Palm Desert, CA in JULY (the California desert in not exactly prime season in July). With Redweek, the Marriott unit was listed at 2300+ points (I remind you…JULY). My first valuation for my VA week was between 1500-1600 points; a few weeks later a re-valuation was between 1100-1200 points. Whether or not the Marriott week was overvalued or my week was undervalued is irrelevant; based on my potential II exchange, they should be equal.

RedWeek is afraid they will eat the week. Unless they start reducing the points of the units already in their system as quickly as they reduce the values they give owners RedWeek will be eating plenty of weeks.

Mike,

I totally agree with you. I was initially offered 2051 points for a week in July and noticed that a week in March for the same resort was the same point value. I was offered 1538 points this week which seems very low for a Gold Crown resort in July

=========== Redweek is afraid to eat your week, but they'll probably eat the March week because at this late date they won't give too many people 2051 point unless it is for a week in the distant future. The irony is that your deposit could've set off a string of provisional transactions and $$ for Redweek.