Am I the first Poly resale buyer? Are the floodgates going to open?

[pangyal]

This is not a brag post . It has a question attached to it, and I also am posting it as a point of interest for anyone who is interested in PVB but isn't sure what kind of resale contracts are out there, if any.

We just went under contract for a resale PVB contract. All 2014 points banked, and all 2015 and beyond. The sellers didn't even ask for reimbursement on the 2015 points, and accepted $20/point below direct.

Here is my question:

Do you all think this is the opening time of the proverbial spout for people who bought into the resort sight unseen and regret it after staying there once? I noticed that in the day our contract was listed another PVB hit the market as well. Is there any historical data for how many people start unloading contracts within the first year? I'd be so curious to start watching this and see whether the rate of PVB resales is larger or the same in comparison with BLT and VGF. Not Aulani as that is a separate category in my books.

Connected to this thought is how DVC is failing or not at marketing this resort. The fact that our sellers were willing to take such a huge hit means they were either upside down with their loan or very disappointed with their purchase. They clearly never used their points. Do you guys think this is indicative of how the Poly is being marketed or just a random one-off situation?

Sorry if this thread seems rambling, I am just really interested in your opinions of whether Poly resales might far overtake other developments at DVC and whether the marketing was flawed. As well, if anyone knows where I can find data for first-year resales of BLT and VGF, I'd love to take a look!

 

[deide71]

I don't think one or two listings mean the floodgates are opening.

Perhaps the buyers had some major life event that required them to sell.

 

[ziravan]

My guess would be major life change of one of the big three variety: death, divorce, downsized.

 

[disneynutz]

We need to remember that DVD/DVC is under pretty new management and it's obvious that things have changed. PVB is the first resort built and sold under the new management.

Bill

 

[DenLo]

I don't think these recent PVB resales are necessarily because they are disgruntled with PVB, but may have decided DVC is not for them. Or like others have posted life events have forced them to sale. At this rate it sounds like they will be taking a big loss, so maybe the life event is probably correct.

 

[dsnydaddy]

That's a harsh loss to take. This early in the game, however, I'll bet that the ones we see are a result of hardship. Poly is a nice property, but it's limitations will make it grow old on a lot of people and they will be either seeking to swap out at 7 mos or sell Poly and buy a property more suited to their refined needs.

 

[dsnydaddy]

I don't think these recent PVB resales are necessarily because they are disgruntled with PVB, but may have decided DVC is not for them. Or like others have posted life events have forced them to sale. At this rate it sounds like they will be taking a big loss, so maybe the life event is probably correct.

Wow! Denise, looking at your banner you got the trifecta of DVC resorts!

 

[cvjw]

We own at 4 DVC resorts, and were thinking about buying Poly points. At least until we stayed there. Putting aside the construction issues at the time of our stay, we decided Poly wasn't for us pretty quickly.

For our family of 4, we booked 2 studios. They were nice and spacious, but not very well thought out - lots of wasted space in one bathroom, and showers that did not work properly in the other.

We cancelled a 2 bedroom at BLT to book those 2 studios and only got back a handful of points. Not a good trade for us. For the same amount of points, we could stay in a 2 bedroom villa for our family of 4 and get more space, a full kitchen, a full living area and a washer/dryer.

If people regularly stay in studios, they may love the Poly. For families that need 2 studios, DVC offers better options for the same or fewer points.

 

[dsnydaddy]

We own at 4 DVC resorts, and were thinking about buying Poly points. At least until we stayed there. Putting aside the construction issues at the time of our stay, we decided Poly wasn't for us pretty quickly.

For our family of 4, we booked 2 studios. They were nice and spacious, but not very well thought out - lots of wasted space in one bathroom, and showers that did not work properly in the other.

We cancelled a 2 bedroom at BLT to book those 2 studios and only got back a handful of points. Not a good trade for us. For the same amount of points, we could stay in a 2 bedroom villa for our family of 4 and get more space, a full kitchen, a full living area and a washer/dryer.

If people regularly stay in studios, they may love the Poly. For families that need 2 studios, DVC offers better options for the same or fewer points.

Yeah I think that in a few years a lot of people will feel the same as you. I may get flamed but I think Singles and Retired owners may get more out of the Poly than families.

 

[Minniesgal]

We own at 4 DVC resorts, and were thinking about buying Poly points. At least until we stayed there. Putting aside the construction issues at the time of our stay, we decided Poly wasn't for us pretty quickly.

For our family of 4, we booked 2 studios. They were nice and spacious, but not very well thought out - lots of wasted space in one bathroom, and showers that did not work properly in the other.

We cancelled a 2 bedroom at BLT to book those 2 studios and only got back a handful of points. Not a good trade for us. For the same amount of points, we could stay in a 2 bedroom villa for our family of 4 and get more space, a full kitchen, a full living area and a washer/dryer.

If people regularly stay in studios, they may love the Poly. For families that need 2 studios, DVC offers better options for the same or fewer points.

This is exactly how we feel about the Poly. Really don't see the point if what they have done and would far rather have a 2 bedroom.

 

[pangyal]

Yeah I think that in a few years a lot of people will feel the same as you. I may get flamed but I think Singles and Retired owners may get more out of the Poly than families.

I agree with you, no flaming here ! We have only one child and won't be having more, so for us, location is more important than space for the first half of our December split stays. With more than one kid, Poly would never have been on our radar. And this goes back to my original question about marketing and whether families of five bought in sight unseen based on marketing and stayed once, never again.

 

[dizfan]

I agree with others that these resales are likely life events. Not too many people like to lose 20% (including commission) or so in a matter of weeks or a few months.
It's far more likely someone sells when they do not believe they can afford to or don't want to go to Disney for a long time.

People are more inclined to hold on and book at other resorts. There are plenty of posters who own at a resort and never or rarely stay there.

 

[miTnosnhoJ]

Since all their points are intact, I don't think they stayed there even once.

 

[DVC Doctor]

You can't make assumptions on a trend based on one or two sales as that happened with both BLT and VGF and they are holding up pretty well.

I do not see the selling floodgates opening at any new DVC resort in the near future.

 

[freediverdude]

I agree, they never even stayed there, and if they're taking that big of a loss, then it's probably something like a divorce or death. I'm surprised Disney will let it go through for that much of a discount, but I guess Disney doesn't need the points. The other two or three Poly resales so far I think went for around $155.

 

[disneynutz]

We don't know why people sell, my guess is that many bought without knowing anything about the product. Maybe it was a life event, maybe they didn't know to cancel within 10 days of signing, maybe could be anything.

Bill

 

[pangyal]

Fair enough...I was mostly just musing. Thanks for the feedback, it's been interesting to get the input, as always !

 

[Pirate Granny]

Unless they bought right at the beginning and were already DVC owners...then perhaps it was a wash dollar wise. Didn't it start at $140 for current owners?

 

[pangyal]

Unless they bought right at the beginning and were already DVC owners...then perhaps it was a wash dollar wise. Didn't it start at $140 for current owners?

I believe it was $160 for current owners...

 

[jillmc40]

There are also a lot of people who go on the cruise, buy in to DVC, having NO IDEA what they are signing up for! They come home, tell their friends what they did, and their friends tell them they are NUTS! That is such a waste of money, people sell their timeshares on Ebay for 1.00!!! So they could be freaking out, thinking they were going to travel the WORLD, when they realized they are likely going to be staying at the Poly in a studio. If they didn't really understand Maintenance fees either, they could have really been in for a shock, and now they are just happy to dump it and get most of their money back (instead of just 1.00 on ebay ). I'm just having fun with the possibilities...It's better than thinking some poor family member died and now all their dreams of vacationing at the Poly for the next 50 years are gone...