Friday, May 24 2013 8:18 AM EDT2013-05-24 12:18:38 GMT
A stretch of state highway in southwest Ohio is being dedicated to a soldier killed in Afghanistan three years ago. State Route 63 from the city of Monroe to Route 4 will be named Friday the "SergeantFull Story >
A stretch of state highway in southwest Ohio is being dedicated to a soldier killed in Afghanistan three years ago.Full Story >
Friday, May 24 2013 7:03 AM EDT2013-05-24 11:03:25 GMT
As survivors of Monday's tornado that killed 24 people in Moore, Oklahoma, prepare to spend part of Memorial Day Weekend honoring the dead, the survivors must worry about health dangers stemming from allFull Story >
As survivors of Monday's tornado that killed 24 people in Moore, Oklahoma, prepare to spend part of Memorial Day Weekend honoring the dead, the survivors must worry about health dangers stemming from all the infrastructure that's been destroyed.Full Story >
CINCINNATI, OH (FOX19) -
If someone made the offer for you to get a vacation home for free, or for just a dollar, you'd jump on the deal, right?
Well, in this economy some timeshare owners are resorting to just that, giving their vacation homes away.
But in some cases, they still can't get rid of them.
Among them is Irene Smalls. She's had her New York City timeshare on the market for nearly a decade. She paid $20,000 to use it for one week a year. But she's not come close to breaking even after trying to sell it.
"I've been getting these really low ball offers," Smalls said.
That's because so many timeshares are currently for sale.
One well-known timeshare resale site, RedWeek.com, says "for sale by owner" listings have increased more than 120% over the past year.
Timeshare Users Group has seen the same trend.
"When you have an industry that has far more sellers than buyers it's automatically going to depress the sale price," said Timeshare Users Group's Brian Rogers.
Timeshare buyers pay up front for the rights to use the same hotel, resort, or condo year after year.
Some say they were led to believe their investment would even increase in value. But the reality is very different.
In this economy, many can no longer afford the required maintenance fees. And they're forced to sell at incredibly low prices.
"You're finding people who have already tried or already discounted their timeshare up to 99% off and in many cases giving it away for free," said Rogers.
Former Orlando timeshare owner John Chase sold his timeshare for one dollar.
He could no longer afford the resort's annual maintenance fees. And if he didn't pay, it would've affected his credit record.
"It was a big relief to sell it even at a dollar," said Chase.
The American Resort and Development Association would not appear on-camera. But it told us timeshares are "not a real estate investment" and "its value comes from using and enjoying it."
Timeshare consultant Lisa Ann Schreier says most timeshares don't increase in value. Instead, you're paying in advance for a place to stay.
"If you have to use the word investment, think of it as an investment in your future vacations," said Schreier.
If that sounds like a fit for you and you don't mind the maintenance fees, you can pick-up a timeshare very cheaply.
But don't expect to do that with Irene Smalls's timeshare. She's going to hold onto her unit hoping the market improves.
"My interest is recouping as much of my money as I possibly can," she said.
If you're having a hard time selling your timeshare unit, experts say consider these alternatives:
* Renting it out
* Asking the resort to buy it back --- or if they have a resale program
* Listing it with a real estate broker
However, you should never pay someone from a company who calls you out of the blue and claims they've got a buyer lined-up for your unit. They sometimes ask you to send them the closing costs in advance. But it's usually a scam.
Thursday, May 23 2013 10:17 PM EDT2013-05-24 02:17:47 GMT
Heads are starting to roll at the IRS. A day after pleading the 5th and refusing to testify before Congress, Lois Lerner, the IRS Director of Tax Exempt Organizations was placed on administrative leaveFull Story >
A day after pleading the 5th and refusing to testify before Congress, Lois Lerner, the IRS Director of Tax Exempt Organizations was placed on administrative leave Thursday. We have learned more about Lois Lerner's connections to Cindy Thomas, the highest ranking Cincinnati employee in this IRS division.Full Story >
Tuesday, May 21 2013 10:31 PM EDT2013-05-22 02:31:55 GMT
The claim that the ongoing IRS scandal is limited to low level employees is falling apart. The six Cincinnati workers we have identified, who sent scrutinizing letters to conservative groups with wordsFull Story >
The claim that the ongoing IRS scandal is limited to low level employees is falling apart. Full Story >
Monday, May 20 2013 9:15 PM EDT2013-05-21 01:15:38 GMT
A massive tornado touched down to the southwest of Oklahoma City Monday afternoon. Starting out as a classic funnel it quickly became a giant half-mile wide wedge tornado as it proceeded east north eastFull Story >
A massive tornado touched down to the southwest of Oklahoma City Monday afternoon.Full Story >
Thursday, May 23 2013 10:32 PM EDT2013-05-24 02:32:20 GMT
A suspect was arrested Thursday in the fatal shooting of a man in East Price Hill. On May 14, officers responded to the 500 block of Elberon Avenue around 11:15 p.m. Upon arrival, police located ScottFull Story >
A suspect was arrested Thursday in the fatal shooting of a man in East Price Hill.Full Story >
Thursday, May 23 2013 12:47 PM EDT2013-05-23 16:47:43 GMT
The Kentucky Supreme Court has suspended northern Kentucky attorney Eric C. Deters for 60 days because of misconduct in two civil cases. The suspension marks the second time the high court has suspendedFull Story >
The Kentucky Supreme Court has suspended northern Kentucky attorney Eric C. Deters for 60 days because of misconduct in two civil cases.Full Story >
Tuesday, May 21 2013 7:20 PM EDT2013-05-21 23:20:28 GMT
The Cincinnati Tea Party announced that it will protest the IRS on Tuesday over the targeting of liberty groups regarding their tax status. The protest will begin at Fountain Square at noon on TuesdayFull Story >
The Cincinnati Tea Party protested the IRS on Tuesday over the targeting of liberty groups regarding their tax status. Full Story >
Friday, May 24 2013 4:38 AM EDT2013-05-24 08:38:10 GMT
(RNN) - A bridge in Washington has collapsed and at least two cars are in the water, according to KING 5 TV out of Seattle. The bridge is part of Interstate 5. There is no word on injuries. Copyright 2013Full Story >
A photo from the scene showed a man sitting on top of his car, which was partially submerged.Full Story >
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