wow. declined offer on AKV, what now?

[eltz1]

so the listing was for 71 dollars a point for 250 points. I offered 65 dollars a point and for the seller to pay closing costs. It seems crazy that the asking price is 71 when ROFR's are going through at the low 60's.

Now what? Do you keep offering or go to another listing and hope for better response?

 

[tjkraz]

You can make another offer but the seller is under no obligation to accept. Seller may have a mortgage or other loan and is not prepared to have to pay any dollars at closing.

If the asking price is simply too high, the seller will find that out in time when no buyers materialize. But that will happen on their timetable. They can stand firm on the asking price for as long as they wish.

From their perspective, all it takes is one impatient buyer to get what they are asking. When DVC wants $145 per point, there's still a lot to be saved paying $71.

 

[nalajms]

Keep offering the price you're comfortable with until you find a a seller willing to take the price.

I've been watching the resale market for a couple of months and I'm still waiting for prices to come down!

Also, the prices listed on this site are probably the lower 10-15% of sales going through. Good luck!

 

[Splashboat]

Were there any banked points?

 

[NoleFan]

Although the ROFR thread is a great resource, keep in mind it is a snap shot of a portion of the DVC resale population. Also, those that post there, typically contracted at least 30 days ago (typically takes around 14-30 day to find out about ROFR decision) & prices have been on the rise even in that short period of time. Find a contract that is right for you @ a price that is right for you. Good luck in your search!

 

[dbs1228]

Although the ROFR thread is a great resource, keep in mind it is a snap shot of a portion of the DVC resale population. Also, those that post there, typically contracted at least 30 days ago (typically takes around 14-30 day to find out about ROFR decision) & prices have been on the rise even in that short period of time. Find a contract that is right for you @ a price that is right for you. Good luck in your search!

Agree with this! Resale prices have been on the rise - there were many BWV contracts in the mid 50 -60's back in Jan thru March now you would be hard pressed to see any under the high 70's! This goes for all resorts. We sold SSR for 63.00 (listed for 66.00) similar contracts today are listing for 70.00 and selling high 60's.

Offer what you are comfortable with but keep in mind it is a sellers market right now. ROFR'd is very inaccurate as to the full picture most people posting on there feel they got a decent price. I have talked to many brokers over the past 4 months and prices are selling for higher on average then what is reported on those boards.

 

[JimMIA]

Offer what you are comfortable with but keep in mind it is a sellers market right now.

Also keep in mind that this too, will change.

 

[sara mom]

Keep offering the price you're comfortable with until you find a a seller willing to take the price.

[/QUOTE

YES!

It's their 'property' and they can accept/not accept any offer that comes in.

Only you know what is the best for you.

 

[drusba]

If you made an offer that was rejected and the seller gave no counteroffer, you must move on and go find another because that means the seller is not moving and for you to go back again with a higher offer would just result in your continuously bidding against yourself.

 

[dbs1228]

Also keep in mind that this too, will change.

I totally agree with that also - I believe once the market is replenished (supply and demand) prices will stabilize and then start to decrease to some degree - how much and how quickly is any ones guess!

 

[JimMIA]

ROFR'd is very inaccurate as to the full picture most people posting on there feel they got a decent price. I have talked to many brokers over the past 4 months and prices are selling for higher on average then what is reported on those boards.

I agree with this, as well as NoleFan's comments. The ROFR thread is a good indicator of the lower end of the market, and sometimes a good indicator of what will pass and what will not. But it is not representative of the overall market.

But as I said above -- this too will change. I think the current sellers market is an anomaly resulting from DVC's sudden return to ROFR and doing waitlists at "classic" resorts. They'll get over it, and so will the market.

 

[JustTinking]

But as I said above -- this too will change. I think the current sellers market is an anomaly resulting from DVC's sudden return to ROFR and doing waitlists at "classic" resorts. They'll get over it, and so will the market.

I just saw an AKL property, 150 pts, posted with the use year I needed. Priced at $76. Called the broker - it already sold at full price! Had only been posted for 1/2 hour. Talk about a seller's market. This is madness! Broker seems to think it's being driven by more folks getting into resale market because of Disney's outrageous prices.

I think I'll sit on the sidelines until normality is restored.

 

[goneviral]

But as I said above -- this too will change. I think the current sellers market is an anomaly resulting from DVC's sudden return to ROFR and doing waitlists at "classic" resorts. They'll get over it, and so will the market.

Anecdotally, I am noticing that several types of contracts that were being snapped up 4-6 weeks ago are not selling particularly fast now.

 

[Deb & Bill]

I just saw an AKL property, 150 pts, posted with the use year I needed. Priced at $76. Called the broker - it already sold at full price! Had only been posted for 1/2 hour. Talk about a seller's market. This is madness! Broker seems to think it's being driven by more folks getting into resale market because of Disney's outrageous prices.

I think I'll sit on the sidelines until normality is restored.

You have to remember that some of these are owners that still owe on the contract and they have to pay the realtor's fees. If they are selling because they can't afford it any more, they can't afford less than their asking price. So they plan on renting out the points (since that seems so easy now) until they can get it sold or afford it again.

I guess you need to blame Daddio and the other brokers.

 

[JustTinking]

You have to remember that some of these are owners that still owe on the contract and they have to pay the realtor's fees. If they are selling because they can't afford it any more, they can't afford less than their asking price. So they plan on renting out the points (since that seems so easy now) until they can get it sold or afford it again.

I guess you need to blame Daddio and the other brokers.

And if those owners can get asking price, then good for them! More power to them! I may be a seller someday and do the same in a seller's market. But that doesn't mean as a buyer that I need to be swept up in at all. Recognize it's a seller's market and sit it out. I am patient and don't need to purchase soon. As Jim said, the bubble will burst at some point.

 

[rackle]

so the listing was for 71 dollars a point for 250 points. I offered 65 dollars a point and for the seller to pay closing costs. It seems crazy that the asking price is 71 when ROFR's are going through at the low 60's.

Now what? Do you keep offering or go to another listing and hope for better response?

It's up to you. Is that contract your perfect contract? Will you be upset if you let it slip away? I know we're all trying to get a great deal, but if it's the right contract for you, the difference is $1500, over the life of your contract that's not much but if you are trying to pay upfront it's that much more you need available. I'd say if you really want it, can afford to increase your offer, then counter and see where it goes. The worst they can say is no again. When my first offer was rejected, I asked my broker what my resort was selling for and she gave me the current average so I upped my offer and we ended up meeting in the middle of my original and the sellers asking price. I did offer closing costs and we prorated the 2013 MFs.

 

[Minniesgal]

It depends on what you want. Do you really want to buy a contract now and use it soon? Can you wait? How long has it taken you to find the contract you want? Based on your research do the come up often are they rare?

We personally stuck to our guns on price to buy an AKV contract but were prepared to offer what the sellers wanted for VGC. aKV do come up more often. I know the landscape has changed but before Christmas there were pages and pages of AKV contracts for sale. If it changed that quickly one way it can change again. vGC are. Ore rare and when one came up in my UY and a smallish contract we jumped and agreed to the sellers counter as I had been looking for it for about 6 months.

 

[Brian Noble]

It seems crazy that the asking price is 71 when ROFR's are going through at the low 60's.

Just as an aside: you probably should not assume that all sellers---or, for that matter, all buyers---know what the ROFR activity has been. The DVC market is fairly transparent as timeshares go, but still quite imperfect.

 

[SFlaDisneyfans]

We just had the same thing happen to us. We found a contract at the size and location we wanted. It was stripped of 2013 points so we made what we felt was an offer that took that into account and also considered what we have seen as the current market price. Seller turned us down with no counter. Shrug, no harm no foul. Time to keep on looking.

 

[crisi]

Just as an aside: you probably should not assume that all sellers---or, for that matter, all buyers---know what the ROFR activity has been. The DVC market is fairly transparent as timeshares go, but still quite imperfect.

And even if the seller has that information, that isn't how the seller should get a listing price. The sellers price should be, in an ideal market, much closer to the maximum purchase price on the resale market in the last sixty days. And they would be stupid to sell at the ROFR price if contracts are being bought for significantly more than that, unless they had a driver for a quick sale, or didn't care about the price.