DVC RESALES
DVC RESALES

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Old 12-01-2012, 09:25 PM   #1
1153rsmith
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DVC resale changes coming!?!

We are here at Disney now. We are not currently DVC owners but have considered it for years. I was told today by a DVC sales person at a resort that DVC is getting ready to make some changes to where if you purchase DVC on resale, you will only be able to stay at the resort you purchased at. I was also told that the new President of DVC is not letting as many resales go through ROFR as the prior president did.

Can anyone confirm either of these?

I would love to own DVC, but the resale prices are a stretch... based on what he said the purchase price is directly from DVC, I don't know how it would ever pay for itself.

He said if I wanted to buy resale, I better do it now, so I would be grandfathered in.
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Old 12-01-2012, 09:52 PM   #2
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Ya know I heard the same this week from dvc not my normal guide but another guide I know. That will plummet the whole resale market. I would buy resale now as the guide advised you too.
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Old 12-01-2012, 09:57 PM   #3
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Heard the same about the first part you posted op.
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Old 12-01-2012, 10:12 PM   #4
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Will be interesting to see if they can actually restrict any grouP of owners to just staying at their own resort as I thought it was the resort that belonged to the "club" allowing everyone one to trade. One problem this could cause is that more people could trade into a resort then trade out, thus shutting out those owners with restricted trading from using their points anywhere.

And if this did come to pass and resale prices plunged, then I'd look at buying even more points. I'd gladly stay at any of the onside resorts if somewhere want to sell them to me for a huge discount to current resale prices. Could have a bad effect on off-site resorts.
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Old 12-01-2012, 10:29 PM   #5
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Dean has written extensively about the legalities of this type of restriction, so hopefully he will weigh in here. On a separate note, I'm with Doug in that I would totally buy more points if any changes caused the resale market to dip. As it is I only buy where I want to stay because I travel during some peak periods and need the 11 month window. That being said, it would be a little sad to see the cash sale value of my existing contracts take a big hit as that makes an exit strategy more difficult.
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Old 12-01-2012, 10:35 PM   #6
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Even if the price dips, the sale still has to go through ROFR. Based on what was said to me, DVC seems to be buying back more of those, so in effect, they are getting the advantage if the price dips. Seems like a win-win for them and a loose for owners.
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Old 12-01-2012, 10:44 PM   #7
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Anything is possible and nothing would surprise me. Disney looks out for Disney and as I have posted before, several sources at Disney have told me that to them, people who buy resale are taking food off of their table.

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Old 12-01-2012, 11:03 PM   #8
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I'm of the opinion that it doesn't seem possible for them to only restrict resale buyers to their home resort but who knows for certain. For me it would only be yet one more reason that I would not buy direct.

As far as ROFR - I'd call that untrue. Just prior to and just after the resale restriction happened Disney did pretty much halt ROFR but prior to that they were as active - or maybe even more active in ROFR.

How nice of the guide to give you a heads up to purchase resale sooner rather than later!
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Old 12-01-2012, 11:20 PM   #9
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Quote:
Originally Posted by ELMC
That being said, it would be a little sad to see the cash sale value of my existing contracts take a big hit as that makes an exit strategy more difficult.
A little sad?? I'd be furious. That would be an enormous middle finger from Disney to their existing owners, with a kick in the teeth to go with it. I still find it hard to believe they would be so short-sighted and foolish. But you never know.
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Old 12-01-2012, 11:23 PM   #10
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Quote:
Originally Posted by KAT4DISNEY View Post
I'm of the opinion that it doesn't seem possible for them to only restrict resale buyers to their home resort but who knows for certain. For me it would only be yet one more reason that I would not buy direct.

As far as ROFR - I'd call that untrue. Just prior to and just after the resale restriction happened Disney did pretty much halt ROFR but prior to that they were as active - or maybe even more active in ROFR.

How nice of the guide to give you a heads up to purchase resale sooner rather than later!
No different than not letting resale buyers use their points for DCL. There is a reason the the legal docs are written the way that they are.

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Old 12-01-2012, 11:27 PM   #11
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With Grand Floridian coming online and the possible Polynesian why is anyone surprised.

Will be an interesting annual meeting if this does come to pass.

Last edited by Sammie; 12-02-2012 at 12:16 AM.
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Old 12-02-2012, 01:48 AM   #12
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no~ anyone can see why changes are needed. there are
many other issues where dvc can protect their markets.

why grandfather the previous resales. it is within their
means. the current playing field has been out of balance
for us since we joined. like ssr owners, they don't need
to book @ 11mos when they are trying to move
during the 7mos.. and if their points go into a holding
account @ ssr, no problem getting your home resort.
but if you're a blt owner, you have no chance getting
your home resort. blt points are not the same as
ssr points. clearly blt owners are @ a disadvantage. so the
only question about "grandfathering" current resales depend
on if they are legally bound which they are not.
disney cares about their image, but the trend lately
are those taking advantage of disney instead of the
other way around. ( my observation was based on
how many posts about buying @ the lowest costs,
no matter what)

going down--how? what can resales people, already
paying less than half to 2/3, have any leverage on
buying direct ? now that there will be differences, will
they suddenly buy direct? i think not. they want the
cheapest but all the "perks".

legally, are owners shown why blt owners being
charge the biggest dues jump? i am questioning
this because blt was vandalized and the mangers let
the guilty get by with it. now if dvc making me pay
for others wrong doings, then i feel this is a tort.
to me, this has legal implications vs. "limiting" a resales
owner to the resort that they only paid 1/3 that
we did for blt.

if dvc asking me as a direct owner, i think this isn't the
best choice for changing. again, if i was a dvc official
with power, i would consider the possible effects
toward my company future. put all the issues on the
table and then do problem solving with those with
the higher priority (effecting incoming incomes) &
then look @ all the changes that can give the
greatest returns. in this situation, there are other
options that would be better for both groups. but
i am just observer & no dvc connections. either way,
i am for the changes.

i don't see any concerns with those only buying for the cheapest.
they will always be there & are predictable no matter the
changes. liked buying hh for $30 a point, compared to
what we paid for our 3 direct blt contacts? where should they
fall in comparison? just like renters and rci trade ins. there
isn't a big gain to consider the changes "effect" on these
groups because they are out to take advantage of direct
owners. however, where will the new owners buying
direct will come from ( what group)? even with all the
current problems, we only "see" direct being right for
us because money isn't the top priority. we feel paying
more to get what we want is. however, we are not
comfortable to recommend our friends from all current
problems where owners are being taken advantage.
( liked a 30 $ resale point getting a better room than
a blt point--and dvc know the difference but do nothing. )
with these issues finally getting some "needed" attentions,
does make us feel better in recommending new
customers toward dvc. and we only consider direct over
resales or rci, because we believe getting what you pay
for.

i remember a previous thread about why others brought
dvc. ours were not mentioned so i thought we were
off tract. but that was when i first started reading the
dvc posts, & then realizing the differences came from
our backgrounds being direct vs resales , resales &
rci owners.

i too , will be waiting to hear mr. dean's input. he has
demonstrated great accuracy & insights. but i also think
mr. sammie is on the right tract too. ( i give their
observations high merits. )
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Old 12-02-2012, 03:13 AM   #13
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I would certainly trigger a legal challenge since that is a core component of the "club" and would be require a change to everyones "plan" which would clearly not be in the best interest of the majority of memebers (resale value damage). They certainly could initiate it with GF, but I think that would hurt its saleability significantly.
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Old 12-02-2012, 05:36 AM   #14
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Originally Posted by bookwormde View Post
I would certainly trigger a legal challenge since that is a core component of the "club" and would be require a change to everyones "plan" which would clearly not be in the best interest of the majority of memebers (resale value damage). They certainly could initiate it with GF, but I think that would hurt its saleability significantly.
I don't see a legal issue especially if they grandfather in existing owners. Disney doesn't have any legal obligation to maintain resale prices, just like other timeshares and we all know where their prices are.

New buyers will still buy and existing owners will buy direct if they want resort hoping rights.

There are around 400,000 people who are members and only 3,200 or so have posted on the DIS members thread. It's clear that most members don't bother to get involved in the politics of DVC ownership.

Bill
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Old 12-02-2012, 06:08 AM   #15
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Until now DVC salespeople have never lied, like they do in other systems. They often said that in the future more restrictions might come, but now they are starting to give this as a matter of fact. And there is the detail about the retriction being of resort hopping.
So it's something to be worried about.

In the next condo meeting I think they are going to give details about GFV, and how to justify a crazy price like 180 or190$?
With new resale restrictions!

We know that law is strict about what they can or cannot do. Many say it's not possible to restrict resort hopping to resale, unless they remove the resort from the club. But that would impact direct too.

But what if they say that GFV is in a different club than the others? They would let existing direct DVC member to use points to book it like they do with Disney collection, while resales would not have the same option.

At the same time they would let direct GFV to book other resorts outside the "GFV DVC" as a perk, not available to who will buy GFV resale in the future.

Existing members will not be able to complain, because we purchased before GFV being sold so we were never been promised to be able to book there. But as more resorts will be added with this restriction, resales will be more and more limited.

I only hope they grandfather existing contracts like they did.

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