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  Mobile version   RSS   Subscribe   Unsubscribe   Archive   Media Kit August 13, 2014

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As you know, CRDA delivers CRDA Insider direct to your inbox each Thursday, briefing you on the latest industry news that impacts your practice. But we know you are busy and may have missed an important article or two. To that end, here's your monthly recap of the top five stories your peers accessed this month. For more articles, or to see what's trending now, visit the CRDA Insider news portal. To unsubscribe from this monthly recap, click here.


Sunchaser Resort Timeshare owners are successful overturning judgment against them
Inside The Gate
The British Columbia Court of Appeal recently released its decision in an appeal brought by several hundred timeshare owners at the Sunchaser Vacation Resort in Fairmont Hot Springs. In November 2013 a judge of the Supreme Court of British Columbia had decided that Northmont Resort Properties was entitled to unilaterally decide to undertake a $51 million renovation project at the Sunchaser Resort in Fairmont Hot Springs, and pass all of those costs onto the timeshare owners without any significant or meaningful consultation with the owners.
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Is buying a vacation home a smart investment in the age of Airbnb?
MainStreet
Vacation homes sound like a luxury for only the wealthiest among us. And it's true — most vacation homebuyers earn significantly more than the national median income, and almost half make an all-cash purchase, based on a recent study from the National Association of Realtors. Interestingly, 80 per cent of vacation homeowners bought the property solely for personal use. But with sites like Airbnb and VRBO on the rise, the idea of owning a second home and renting it out for profit might seem appealing, even if you aren't part of the one per cent.
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2013 banner year for U.S. vacation timeshare industry
Hospitality Net
The U.S. timeshare industry enjoyed significant growth in 2013, according to the State of the Vacation Timeshare Industry: United States Study 2014 Edition conducted by Ernst & Young. Compared to 2012, sales volume increased nearly 11 per cent, average sales price rose nine per cent, and there are 29 per cent more resorts planned for the upcoming year.
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A.G. Schneiderman announces court order barring sales in Manhattan Club Timeshare Hotel
Inside The Gate
Attorney General Eric T. Schneiderman announced that he obtained a court order halting sales of timeshare interests at the Manhattan Club, a luxury hotel in Midtown Manhattan. The order by a Manhattan Supreme Court Justice requires that the club's principals, Ian Bruce Eichner, Leslie H. Eichner, and Stuart P. Eichner, testify in court about the club's practices and produce documents to the Attorney General's Real Estate Finance Bureau about allegedly fraudulent sales tactics.
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FTC obtains court orders banning defendants from selling timeshare resale services
Inside The Gate
The defendants behind three deceptive timeshare resale operations are banned from selling timeshare property resale services under settlements resolving charges that they lured consumers into paying hefty up-front fees, falsely claiming they had prospective buyers for properties they wanted to sell.
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CRDA Insider
Frank Humada, Director of Publishing, 289.695.5422
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