Anyone made it through (or not made it through) ROFR recently? - Section V

[Hunclemarco]

Congratulations on your speedy notice! Our contract was sent 2/27, no word yet. It is also a stripped contract.

 

[gatorgirl02]

Getting closer to my first contract. I'll outline my complete timeline after my membership card is in my hands, but here is my contract and ROFR info:

170 pts SSR - Feb UY
$49 per point
Resale - Fidelity
'13 Points: 0
'14 Points: 170
Seller pays '13 MF
Buyer pays Closing and Fidelity Admin Fee

Sent to ROFR: 3/4/13
Passed ROFR: 3/8/13

DVD must be in hurry to clear out these resale purchases!!

That's crazy fast! I don't know about you, but I think that may set a record or something, lol. As for the deal, nice $ per point. Hoping your points get loaded just as quickly

 

[Joey7295]

Submitted 3/7

OKW 190 points June UY - $60/point. 190 banked 2011 points, 190 banked 2012 points, 190 2013 and all 190 going forward. Seller pays closing, 2013 MF, and admin fee.

 

[kenspidey]

Submitted 3-11-13

BWV 150 points Sept UY all points 2012 forward $67 per point Buyer paying 2013 CC and maintenance costs

 

[bkny]

Submitted 3/9/13


BWV 100 points Sept UY $68/point. 100 available in 2013 and 100 available in 2014.

Buyer pays closing and 2013 MF

 

[puffkin]

Getting closer to my first contract. I'll outline my complete timeline after my membership card is in my hands, but here is my contract and ROFR info:

170 pts SSR - Feb UY
$49 per point
Resale - Fidelity
'13 Points: 0
'14 Points: 170
Seller pays '13 MF
Buyer pays Closing and Fidelity Admin Fee

Sent to ROFR: 3/4/13
Passed ROFR: 3/8/13

DVD must be in hurry to clear out these resale purchases!!

Congrats!!! We just sent in our closing docs and check today for our SSR purchase. OUrs had taken 3 weeks exactly for ROFR.

 

[Joey7295]

Submitted Today 2/25

OKW 100 points February UY - $58/point. 100 banked 2012 points, 100 2013 and all 100 going forward. Buyer pays closing, 2013 MF, and admin fee.

I just got the email saying Disney has ROFRd this contract

 

[Joey7295]

Submitted on 2/20

SSR 200 points December UY - $55/point. 101 banked 2011 points, 200 2012 points and all 200 going forward. Seller pays closing, buyer and seller split 2013 MF, Buyer pays admin fee.

I just got the email saying Disney has ROFRd this contract. That's 2 in 1 day

 

[DougEMG]

I just got the email saying Disney has ROFRd this contract. That's 2 in 1 day

Wow, that's really bad luck. Hope you have better luck with your other OKW contract.

There does seem to be a lot of ROFR activity happening right now. So do you guys think that is because lots of people are on waiting lists or is Disney stocking up on cheap contracts to sell at their new high prices. Is the price spread between resale and the new March 20th prices enough to make it worth Disney's while to actively encourage direct buyers to take the older resorts if they can't afford the more expensive ones.

 

[toniosmom]

I just got the email saying Disney has ROFRd this contract. That's 2 in 1 day

That stinks. I notice that your contracts were loaded -- I'm wondering if that makes the difference. I have a BLT Dec UY ROFR submitted with zero 2012 points, so I'm hopeful it will pass.

 

[dbs1228]

I just got the email saying Disney has ROFRd this contract. That's 2 in 1 day

That stinks! Pretty quick turn around, I wonder if they are going to take most or all contracts for older properties right now to replenish inventory. I feel like I am about 3 weeks behind since a ton of people were passing right through at the end of Jan - mid Feb.

What agency did you use? I have a purchase with Fidelity and a sale SSR with TSS both were submitted last week.

 

[Brian Noble]

Is the price spread between resale and the new March 20th prices enough to make it worth Disney's while to actively encourage direct buyers to take the older resorts if they can't afford the more expensive ones.

I don't think so. Industry standard is that cost to acquire/develop is 20-25% of sales costs. Even at $130, that means the ROFR threshold is $26-$33. Tim K. has suggested that the cost to Disney is even lower:

http://disboards.com/showpost.php?p=47686931&postcount=95

At the same time, the "gap" between new and old resorts is getting smaller. My guess is that Disney is fine with letting the bottom end of the market go untapped.

Edited to add: it's also dangerous to take reports one at a time and try to make sense of them. Here's why:
http://www.scientificamerican.com/article.cfm?id=how-people-are-fooled-by-evidence

 

[ELMC]

I don't think so. Industry standard is that cost to acquire/develop is 20-25% of sales costs. Even at $130, that means the ROFR threshold is $26-$33. Tim K. has suggested that the cost to Disney is even lower:

http://disboards.com/showpost.php?p=47686931&postcount=95

At the same time, the "gap" between new and old resorts is getting smaller. My guess is that Disney is fine with letting the bottom end of the market go untapped.

Edited to add: it's also dangerous to take reports one at a time and try to make sense of them. Here's why:
http://www.scientificamerican.com/article.cfm?id=how-people-are-fooled-by-evidence

Fair points. I'm curious how you would explain the increase in ROFR activity recently. Or are you suggesting that there isn't an actual increase?

 

[Brian Noble]

In general, I'm not a fan of guessing why something happens when I have no particular way of testing whether my hypothesis is true or not. It is too easy to put together the things we *can* observe. The price goes up here, ROFR happens there, must be related!

But, only DVD knows why ROFR is increasing in a substantive way, assuming that it is. Recall that February saw a decrease in ROFR'd points.
http://disboards.com/showpost.php?p=47721244&postcount=254

Assuming that it is increasing, there are a lot of plausible factors. For example, I suspect we have fully passed through the bulge of inventory made available through recession-inspired defaults, reducing the flow of "free" points to DVD. There is also some evidence that travel demand is picking up. David is experiencing more demand than he can fulfill for rental points. Wyndham is expecting a banner year for sales in their system this year, and is increasing their sales staff in Orlando. The non-Disney hotels are seeing an increase in both occupancy and average daily room rates:
http://corporate.visitorlando.com/research-and-statistics/research-summary/

My bottom line is that any real changes---in pricing, in discounting, and in Disney's need to re-acquire---are going to be driven by these sorts of macro-economic trends, not local-to-DVD effects.

 

[gatorgirl02]

I just got the email saying Disney has ROFRd this contract. That's 2 in 1 day

What a bummer, that really sucks!!

Sorry to hear it, but hopefylly you can get back in the game with a new contract (and perhaps a new resort?)

 

[Sandisw]

That stinks. I notice that your contracts were loaded -- I'm wondering if that makes the difference. I have a BLT Dec UY ROFR submitted with zero 2012 points, so I'm hopeful it will pass.

I'm also noticing that many of the contracts that have been recently picked up had banked points. I wonder if that is part of it.

 

[zgirlz]

OKW 220 pts UY Feb.--220 holding, 228 banked all need to be used by Jan 2013, $59 per pt. submitted Feb. 18th. Still have not heard back, word is it may be in the current batch Disney just received. Buyer paying all costs, forgot to add that. Will keep everyone posted if we get it!

 

[okw2012]

OKW 220 pts UY Feb.--220 holding, 228 banked all need to be used by Jan 2013, $59 per pt. submitted Feb. 18th. Still have not heard back, word is it may be in the current batch Disney just received. Buyer paying all costs, forgot to add that. Will keep everyone posted if we get it!

Jan 2013 or 2014?

 

[mac_tlc]

Actually seller pays closing!

Thanks, cuteinnocent, I'll get that change in the next update.

mac_tlc

 

[mac_tlc]

Hi all,

Working on the next update -- should be available in a couple of days. We just got back yesterday from 2 weeks in Orlando. I think I found the cure for addonitis -- we bought a house in Orlando . It's something we have been contemplating for quite some time, and having arrived home yesterday to a snow-covered driveway and having to shovel what did not melt yet, I knew our decision was the right one.

No plans to sell our OKW or BLT contracts, though.


mac_tlc