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-   -   Is it just selective memory or are resale prices way up? (http://www.disboards.com/showthread.php?t=3154095)

Donald Duck888 08-07-2013 01:03 PM

Is it just selective memory or are resale prices way up?
 
Just curious if I am the only one who thinks resale prices are way up this year. I was also wondering has it turned to more of a sellers market where you need to offer closer to asking?

Deb & Bill 08-07-2013 01:26 PM

Quote:

Originally Posted by Donald Duck888 (Post 49211752)
Just curious if I am the only one who thinks resale prices are way up this year. I was also wondering has it turned to more of a sellers market where you need to offer closer to asking?

They are up this year, but have been higher in the past. There is a lot of competition for contracts.

bobbiwoz 08-07-2013 01:49 PM

Asking prices are higher across the board for all of the resorts that we have bought resale in the past. For instance we bought BLT earlier this year for $96, and I see prices listed at $100 now. We're finished adding on, resale, we have the older resorts we want to own. I am on the fence over VGF, just deciding if the cost is worth the convenience of owning there.

sleepydog25 08-07-2013 03:24 PM

We bought three years ago at $72 pp (VWL), and prices are in the mid- to high $80s currently.

DrewJB 08-07-2013 03:24 PM

Quote:

Originally Posted by bobbiwoz (Post 49212297)
Asking prices are higher across the board for all of the resorts that we have bought resale in the past. For instance we bought BLT earlier this year for $96, and I see prices listed at $100 now. We're finished adding on, resale, we have the older resorts we want to own. I am on the fence over VGF, just deciding if the cost is worth the convenience of owning there.

Though I would say - I don't know that many people are paying over $100 for BLT. I see several BLT properties listed at over $100, but very few of them are actually selling. Of those reporting on this board, since the start of June, 9 BLT sales have been shared and only two of those were at or over $100. I just closed a week ago for one at $90.

DrewJB 08-07-2013 03:26 PM

Quote:

Originally Posted by sleepydog25 (Post 49213515)
We bought three years ago at $72 pp (VWL), and prices are in the mid- to high $80s currently.

The only VWL contract sale shared with the board since the start of June was for $65 pp. Listed asking prices are not necessarily current selling prices.

sleepydog25 08-07-2013 03:31 PM

Quote:

Originally Posted by DrewJB (Post 49213554)
The only VWL contract sale shared with the board since the start of June was for $65 pp. Listed asking prices are not necessarily current selling prices.

The key word being "shared." True enough, however, that listing doesn't mean selling.

michelleiada 08-07-2013 07:12 PM

I think prices are WAY up. We bought BCV one year ago at $68 per point, and a loaded contract. I'm now seeing prices in the high $80s to $90s even. YIKES.
Glad we bought when we did. I'm looking to add on a smaller contract at AKV and I'm hoping to get a decent price.

DannysMom 08-07-2013 08:44 PM

Yes prices are up. Yes it is more of a seller's market.

I still wouldn't pay some of the outrageous asking prices for the stripped contracts out there.

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!

julie <3wdw 08-07-2013 09:09 PM

We just offered over $100 per point at BLT a couple of days ago however the contract was absolutely loaded with points and the annual dues were already paid for. We could have offered lower but this contract versus some of the stripped contracts out there it was a no brainer. Plus it was the perfect use year/points we were looking for and by the time we sell off some of the points we will be under the $95.

csharpwv 08-07-2013 09:30 PM

Prices are definitely higher than what they have been, however - I am still shocked at how low Animal Kingdom Villas is regularly sold.

When you look at the length of time that many of the new resorts have been in the market for direct sales, it really makes you wonder.
They sold SSR for at least 8 years, Animal Kingdom Villas has been for sale for at least 6, almost 7 years - yet, Bay Lake Tower sold out quickly... oh wait, scratch that. They kept telling us that it was going to sell out quickly - we received enough post cards, mailers, e-mails, etc etc that BLT would be sold out 'soon' - yet we had a referral buy at BLT in January... although they were actually almost sold out in January. But even at that, it was over 5 years of sales.

So with the VGF coming online, and the heavily rumored and "confirmed" by some DVC at the Poly, the rumored Fort Wilderness project - there are so many projects coming that the supply really is outpacing demand when you consider the number of resorts currently for sale, the number of resale contracts on the market, and the number of resorts that will be open for the next 5 years... it is really hard to tell where things are going to head.

But OP, yes, resale listing prices are way up - and compared to the number of resale contracts for sale in the depths of the recession, the competition in the market is higher.

So it is far more of a seller's market now than what it was even a year ago.

SFlaDisneyfans 08-08-2013 12:14 PM

Is there a link somewhere to the rumors about a Fort Wilderness DVC? I would love to read up on them Some of my fondest memories as a child were staying in Ft Wilderness back in the early 70's. I would so be buying in at a FW DVC location.

DrewJB 08-08-2013 03:22 PM

I agree that some resorts are definitely up in price, I just think comparing what any of us on this board paid vs. asking prices is not a good comparison. Those on this board probably all tend to pay slightly less than average, so comparisons to other sales to board members makes sense. Plus - that is some of the best concrete sales data we have.

Certainly the Epcot resorts are jumping in price. Supply is low due lack of any new development in many years and there are always new buyers that would like to have a home resort that is walking distance from Epcot. There has been a lot of development around Magic Kingdom - which is continuing, but without a DVC at, say, the Yacht Club coming in to let some steam off of the demand on on BCV and BWV - those resorts are likely to keep what I would consider to be inflated values. I'd like to own at one of them, but I can't imagine buying into a 2042 resort at anywhere near the price I can buy into one expiring 20 years later. If there is any bubble happening in DVC it would be at those resorts. If people continue to pay more and more for those contracts because of the allure of an Epcot resort as that 2042 date comes closer and closer - my guess would be that at some point there is going to be a crash in that price. A Yacht Club DVC would do a lot to really bring those prices down and feed the demand in that area.

ELMC 08-08-2013 06:54 PM

Quote:

Originally Posted by sleepydog25 (Post 49213515)
We bought three years ago at $72 pp (VWL), and prices are in the mid- to high $80s currently.

It's important to note that in the interim prices dropped as low as $50 pp at VWL, so the increase is that much more significant.

michelleiada 08-08-2013 07:15 PM

Quote:

Originally Posted by DannysMom (Post 49216775)
Yes prices are up. Yes it is more of a seller's market.

I still wouldn't pay some of the outrageous asking prices for the stripped contracts out there.

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!

I agree totally! I will just be patient and wait to add if I have to.


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