Mid-Atlantic Country....

BUYING PROPERTY: HAS TIMESHARING'S TIME

(FINALLY) ARRIVED IN THE MID-ATLANTIC?

Long the victim of shoddy sales techniques and other horror stories, the timesharing industry has suffered from a terrible reputation. But times are changing and the industry is maturing, making timesharing a viable alternative for buying property in the Mid-Atlantic.

"Today's consumers are looking for the most value for their money," says Tom Franks, president of the American Resort and Residential Development Association, the Washington, D.C.-based trade association representing the timeshare industry. "Timesharing in the Mid-Atlantic protects vacationers from the escalating costs of hotel rooms and assures a first-class vacation year after year in one of America's favorite regions."

With the entrance of companies like Disney and Marriott into the field, the timeshare market is exploding. In the past two years, almost 500,000 households have purchased a total of more than 700,000 timeshare intervals. That means there are more than 2 million owners at more than 2,000 resorts worldwide. Contrary to popular belief, a recent survey showed that most of these owners are happy with their purchase.

THE BASICS

For a one-time purchase price, consumers vacation each year (usually one week) at a luxurious resort that offers space and amenities for family and friends. Prices currently average around $9,000, with annual maintenance fees of around $300. The costs, however, can vary widely, so make sure you understand the full purchase price, terms, and additional future fees.

Vacation timesharing generally takes one of two forms: "Fee" timesharing gives the purchaser permanent rights--in the form of a deed--to the property. About 85% of timeshare resorts sell under fee-ownership agreements. "Right-to-use" timesharing grants the purchaser the rights to the use of the property for an established period of time, such as 30 years. Under this type of timesharing, the purchaser does not receive a deed.

Though each resort's contract varies, the purchase of a week or more at a particular property means years of vacations at that resort. Along with enjoyment and savings, there may even be tax benefits.

Another one of the benefits of timeshare ownership is the exchange privilege. Timeshare owners can "swap" their vacations at comparable resorts throughout the world. This is done through several international exchange companies, like Resort Condominiums International or Interval International.

This exchange privilege is a large selling point for timesharing, whether you plan to visit some other resort in the Mid-Atlantic, head to Europe, or explore timesharing in some other region of the U.S. The options are almost endless.

SOME EXAMPLES

With so many timeshare resorts in the Mid-Atlantic, the variety is great. It's highly recommended that you visit several properties in several areas before buying. Don't let high-pressure sales techniques or your vacation "high" affect your decision.

A quick look at the exchange company catalogs reveals many options. There are dozens of choices in Delaware, Maryland, New Jersey, North Carolina, Pennsylvania, Virginia, and West Virginia. The variety among these choices is incredible, whatever your interest.

At all of these timeshare resorts, you'll find a full host of amenities, often including kitchens, living areas, decks, pools, restaurants, golf courses, tennis courts, and much more. The kitchen facilities can provide another nice way to save a few bucks. The accommodations are also generally quite a bit larger than normal hotel rooms, usually sleeping from two to six.

One of the newest timeshare properties in the region is Shenandoah Crossing. The resort is situated in the rolling countryside of central Virginia, near Charlottesville. A recent visit to Shenandoah Crossing revealed:

(1) A unique ownership and exchange arrangement.

(2) Unusual accommodations--log cabins, a lodge, or camping.

(3) Unlimited horseback riding and other recreational possibilities.

(4) Great golf.

The ownership plan is innovative in the timeshare industry. Owners can visit the resort as often as they like and can make up to three reservations each year. There are very few limits for the length of stay. In addition, owners receive three weeks for use and exchange privileges with RCI.

Though there are other possiblities, most owners tend to stay in one of the stand-alone log cabins. There are three purchase possibilities:

(1) Resort Cabin--2 bedrooms, 1 bath, with a sleeper sofa in the living room. Typical timeshare unit amenities, as well as a small deck.

(2) Deluxe Resort Cabin--2 bedroom, 1 bath, with a sleeper sofa in the living room. Each cabin also has a fireplace and a whrilpool tub.

(3) Grand Resort Cabin--Spacious 2 bedrooms, 2 baths, with a sleeper sofa in the living room. Each cabin overlooks the lake and has a screened-in porch.

These units currently range in price from $8,500 to $15,500. Buyers also pay around $600 for maintenance fees and $11 per day for linens and cleaning.

Along with the ownership arrangement, the horseback riding facilities are a major selling point. The Equestrian Center features dozens of horses, Western, English, and ring riding, supervised trail rides, children's rides, and much, more. There are no additional fees for owners and guests only have to pay a small charge.

Other recreational activities tend to revolve around Lake Izac, a 60-acre lake offering paddleboats, rowboats, fishing, and other watery activities. Just across the lake sits the new and popular Buddy Loving-designed golf course.

Shenandoah Crossing is typical of timeshare properties now available in the Mid-Atlantic. There are many options throughout the region.

North Carolina offers beach resorts along the coast, with more than a cozen properties just along the Outer Banks. Inland, the hills offer great golf and the mountains offer outdoor recreation like skiing and hiking.

Two legendary developers in the area are Fairfield and Peppertree. Both companies offer several resorts along the water and in the mountains and are ideal starting points for exploring ownership options in North Carolina. For instance, Fairfield Mountains sits in the foothills of the Blue Ridge Mountains, is adjacent to a large lake, and is near the wonderful town of Asheville. Peppertree's Outer Banks Beach Club sits on the beach in Kill Devil Hills and offers the typical timeshare beach experience.

Along with Shenandoah Crossing, the Old Dominion has many other timeshare options. Of course, Virginia Beach offers many resorts for sand and sunshine, but the rest of the state features some other unique properties.

Skiers should check out several of the options at Massanutten, including Eagle Trace, Mountainside Villas, or Shenandoah Villas. Fairfield recently opened a new property in Williamsburg, called Patriot's Place, which is ideal for lovers of Colonial Williamsburg. Nearby, visitors should also visit the popular Powhatan Plantation Resort.

To the west, West Virginia currently offers just a few possibilities. Those who like their timeshare weeks wild and wonderful could try Land of Canaan Vacation Resort near Canaan Valley State Park or Lakeview Resort Club near Morgantown.

Maryland's timeshare center is, of course, Ocean City. There are literally dozens of timeshare properties along this huge commercial stretch of beach. One of the biggest players is Shell-Heritage Resorts, with three unique resorts just in Ocean City.

Delaware, like West Virginia, only has a few timeshare facilities. These center around the ocean, with Summer Place at Bethany Beach and The Surf Club and Dewey Beach.

Further north, New Jersey offers Atlantic City and its casinos to timeshare buyers. The options range from small, less-hectic resorts to large properties like the Radisson Flagship Resort.

Pennsylvania's contributions to timesharing center around the Pocono Mountains. This four-season recreational mecca offers dozens of timeshare resorts and you should visit several before buying. Shawnee Village, Phase I, II, and III, is typical of the Pocono possibilities, with golf, skiing, tennis, horseback riding, and much more.

Of course, this is just a tiny sample of the potential of Mid-Atlantic timeshare ownership. Further information is just a phone call away or by visiting resorts while vacationing. But put on your thinking cap before you break out your checkbook.

RESOURCES

The best place to start for potential timeshare buyers in the Mid-Atlantic is the American Resort & Residential Development Association (ARRDA), 1220 L St. NW, Suite 510, Washington, DC 20005, (202) 571-6700. They can provide lots of background information and answer any questions.

**Fairfield Resorts--(501) 664-6000

**Lakeview Resort Club--(304) 594-1111

**Land of Canaan Vacation Resort--(304) 866-4788

**Peppertree Resorts--(919) 247-5841

**Powhatan Plantation Resort--(804) 220-1200

**Radisson Flagship Resort--(609) 343-7447

**Shell-Heritage Resorts--(301) 542-5241

**Shenandoah Crossing--(703) 832-9400

**Summer Place--(302) 539-5009

**The Surf Club--(302) 227-7059