The time share industry recently got together to try and drum up interest in purchases once again. Many people believe the hype that these vacation weeks have value and that a timeshare is an investment. That is not the case. A timeshare is a pre-payment for a vacation. So, it’s important to buy time shares the right way these days. What does that mean? Well, timeshares have virtually no value. So, if you buy one directly from a developer, you’re paying for commissions, marketing and sales expenses. Very little is paying toward the value of the home. If you don’t believe that, take a look at all of the timeshares people are trying to dump on eBay. The way to buy smart is to buy “second hand.” Developers will charge $15,000 for a timeshare. Within minutes of the purchase, it’s worth about $3,000 in the secondary marketplace. Now, people are often taken by the fact that Marriott or some other reputable hotel brand is affiliated with the timeshare. They think it’s a valuable, smart investment. But those companies offer no buyback policy. So, obviously they know the value is low.

Clark has received many calls over the years from people who are stuck with a timeshare they just can't seem to sell. The truth is that timeshares are extremely difficult to sell no matter what you paid for them or when you bought them. Even if you love your timeshare, sometimes your circumstances change and you need to sell your week. The trouble is that there is no solid, active secondary market for selling timeshares because they lose about 80 percent of their value the moment they are sold. But there may be a new way to solve this problem. Clark read about the new option in the Wall Street Journal, but he wants you to keep in mind that it is very new. It’s a donation program called “Donate for a Cause,” and it allows you to donate the timeshare to a charity and claim a tax deduction of $4,900. There is no fee at all, and you don’t need an appraisal, according to the Journal. Clark wonders if there are any gotchas, and he wants you to know that you will be a guinea pig if you get involved. But he talked with the owner to find out if there are any gotchas, and he couldn't find any. Even the annual maintenance fees you have to pay are transfered with the donation. So, where does the timeshare go? When you transfer the ownership, you get a receipt for your donation and the proceeds go to a non-profit organization of your choosing. The Web site for information is donateforacause.org. The owner also recommends that you discuss the tax issues with your accountant before you deduct it.