So I finally spoke with my sales rep and I went ahead and switched my home resort to VGF. I appreciate everyone's feedback. I know I kept going back and forth but once I made the decision I feel so much better. I feel at peace with my choice. Yey!
MrsB919 said:So I finally spoke with my sales rep and I went ahead and switched my home resort to VGF. I appreciate everyone's feedback. I know I kept going back and forth but once I made the decision I feel so much better. I feel at peace with my choice. Yey!
Dude, you are comparing apples to oranges here (e.g., comparing 200+ pt contracts to 50-100 pt contracts).
To be clear, I was careful to preface my comment with the fact that I was looking at 50-100 pt contracts (as the OP had mentioned at one point, possibly splitting the contract). Smaller contracts seem to represent a distinct sub-market amongst resales.
The smaller contracts tend to list higher; be fairly stripped of points; and sell faster, with sellers pretty much refusing to budge on asking prices, and refusing to pay any fees or closing costs. This was my experience while submitting 30+ offers (based on the ROFR data) in the past several months.
So my numbers stand (for the smaller contracts), and the gap has been narrowing even further. Current listing prices for 50-100 pt AKV contracts are $87-$97 pp -- I submitted offers on every one of them, and the sellers refused to budge. The majority of these contracts don't even have points available until 2015!
Each person has to make his/her decision based on his/her unique experience. You mentioned that your personality is such that paying more would cause you too much stress. That makes sense, of course.
However, currently my life is way too stressful and complicated (e.g., I run my own business; I tend to a spouse with a chronic, life-limiting illness; all while trying to provide a somewhat "normal" life for our 8 y/o son). The 10pp difference (even less now) lent me to abandon my own perception regarding the stress and aggravation of dealing with the resale market, so I went direct. It was much simpler and stress-free for me. (Oh and while Fidelity does not charge a CC processing fee, other brokers do --$45 for one).
Anywhoooo... I wish the OP best of luck with their own decision.
Some are just hard core re-sale and nothing changes their mind set
I can't speak for others but in general and for me personally, it's not about being hard core or hard headed but about making conscious decisions. One of those decisions is there is NOTHING of value currently retail vs resale if you end up with the same contract (including # of points) and home resort. After that it becomes math and common sense. First it has to reasonable to buy at all (it isn't for many including some that buy in), that can actually afford it (my def is no consumer debt and paying cash). Then it's simply numbers. It's easy to figure out what the Retail cost will be and how many points you'd get. It's also fairly easy to get an idea of what the same would be resale. Then you just compare the 2. Ultimately that means that only things you can't get resale and smaller contracts are reasonable retail. 100 points at a resort generally available resale isn't generally going to be a cost effective purchase retail meeting the above criteria. That assumes it's available resale at a reasonable price (VGF, VGC may not be).Some are just hard core re-sale and nothing changes their mind set
You don't even lose RCI or BVTC (Buena Vista Trading company) resale. The 2 exchange options that can make sense in a minority of situations.Lets just take an average buy for 100 points....for Bay Lake Towers it's 160 per point. That would be 16,000. If you buy resale you can either up the points, or save 6,000. I don't think the option to buy RCI at their rediculous prices, or a cruise ( also at horrible prices) is worth the extra 6,000. I also think that buying a resort with more years is smart. Most of the time you can get where you want at 7 months out. For resale you can get 220 points per year for the price of 150. It's a huge savings.
You don't even lose RCI or BVTC (Buena Vista Trading company) resale. The 2 exchange options that can make sense in a minority of situations.
I thought you lost RCI in resale?
Nope. RCI can be used with a resale DVC contract.
People buy direct for a few reasons:So why is anyone buying direct? (Totally confused about that....not being sarcastic).
I don't know what you are talking about. There are a lot of properties on the resale market. I wish more people did know about it as I am currently trying to sell. If the market was so limited, mine would be sold by now. Disney does tell owners they can sell on the open market. Are you suggesting that Disney suggest people look at resale when they call for prices?And, of course, not everyone can buy resale. There's just not enough supply. Disney moves 10 times the number of points each month than the resale market, because most current owners are happy with their ownership and don't sell. So resale is an incredible deal as long as most buyers don't know about it.
I actually think the best thing Disney could do to "fix" the resale competition would be to emphasize the resale market to every buyer, and go ahead and tell them where to go look at the resale market. They could emphasize that if they aren't happy with their DVC purchase, they can sell it on the open market. For a short time, they'd lose some sales to resale, but pretty quickly resale prices would shoot up until they were just below direct, at which point people would see direct as an incredible deal. Having a vibrant and high-priced resale market is a huge benefit to a buyer, because it means they will be able to realize a good price when they sell.
I don't know what you are talking about. There are a lot of properties on the resale market. I wish more people did know about it as I am currently trying to sell. If the market was so limited, mine would be sold by now. Disney does tell owners they can sell on the open market. Are you suggesting that Disney suggest people look at resale when they call for prices?
I'm assuming you know what you are talking about. You say that 300 resale contracts are sold a month, but it seems like there is enough inventory to support those sales. (I've been looking at different sites to see if mine is priced right and what the competition is) Are you saying its a seller's market? I'm just asking because I'm curious. To me it seems like the market is flooded with resale contracts....and I am worried mine won't sell.