DVC resales; why are there so many?

[LoveBWVVBR]

Probably for lots of reasons, some of which have already been mentioned. We sold because the price hike of the APs that included Christmas and other school breaks were the last straw for us. Also, the difficulty we had had for 2+ years in booking what we wanted, the ease and inexpensiveness of trading into DVC through RCI should we so desire, etc. played into the decision. Things change, including family situations and DVC itself. I'm sure all those things play roles in why people list their DVC for sale.

 

[McCrae]

In addition to the above, many bought not understanding what they bought, they may have stuck it out for a week or for a few years. Others may have found that the competition to book studios in certain low point categories too great for their liking. Spending this amount of money and not getting what you want or having to jump through hoops to make a reservation isn't worth it to some and only after buying do they really understand the reality of owning a DVC interest.

Bill

Don't think there is any evidence to back up your claim that Many people did not know what they are buying. Whilst I agree it's likely that some people made a mistake and didn't know what their were buying.... It's probably a very small minority otherwise we would see far more resales.

 

[disneynutz]

Don't think there is any evidence to back up your claim that Many people did not know what they are buying. Whilst I agree it's likely that some people made a mistake and didn't know what their were buying.... It's probably a very small minority otherwise we would see far more resales.

IMO there are a lot of resales if you look at all of the brokers, in addition again IMO, most direct buyers didn't know what they were buying because they bought direct and not resale.

Bill

 

[MsTessP]

Based on the questions we see from new direct owners on this board and on others, it is obvious that many have been rather clueless about timeshares in general, and DVC in particular, even after they become members. It amazes me how anyone could plunk down such a huge amount of money without reading their contracts and asking, before they buy, the same basic questions about ownership which they subsequently ask on these boards. I'm not talking about tips and suggestions, I'm talking about new members asking about UY, borrowing and banking, etc. I understand pixie dust can be very intoxicating, and the sales department cater to impulse purchases, but still........

 

[wdrl]

FYI: Since July 2010, I show that Disney has sold 114,089 deeds. This number does not include any points sold on the resale market or points acquired at judicial or Trustee public foreclosure auctions.

If there are 1,141 DVC deeds on the resale market, that would represent only 1% of the deeds sold since July 2010.

I won't estimate how many deeds were sold by Disney before July 2010 going back to 1991, but it would not surprise me if its more than 114K.

 

[McCrae]

IMO there are a lot of resales if you look at all of the brokers, in addition again IMO, most direct buyers didn't know what they were buying because they bought direct and not resale.

Bill

The math doesnt support what you are suggesting. Only a very small % of deeds are sold each year. This number would be even lower if there was not a lot of people wanting to buy into DVC.

I do though agree that knowledge of the resale market is probably not that good amongst the general public. That doesn't though mean that buyers don't understand what they are buying.

 

[disneynutz]

The math doesnt support what you are suggesting. Only a very small % of deeds are sold each year. This number would be even lower if there was not a lot of people wanting to buy into DVC.

I do though agree that knowledge of the resale market is probably not that good amongst the general public. That doesn't though mean that buyers don't understand what they are buying.

We can agree to have different opinions. My opinion is that most who buy direct do not fully understand what they are buying. They only know what they are told buy the sales person and after buying some may sell, most will keep and learn as they go.

Bill

 

[deide71]

The broker I was working with told me they have seen an uptick in resales from the lower cost resorts (she named SSR and Vero Beach) and tighter inventory in the higher priced ones. This is coming from a salesperson so I am not 100% convinced, but this would suggest that people who bought the lower cost ones thinking they could book any resort at 7 months are heading for the exits or are wanting to sell and buy in a different resort.

That sounds like pure speculation to me.

 

[LoveBWVVBR]

That sounds like pure speculation to me.

I agree that this is speculation. We owned Vero and Boardwalk and that's not why we bought or sold Vero. We did so because we had a year's worth of banked points on that contract in addition to the current year's points and we just couldn't get in when we wanted to go It's a small resort with a lot of demand IMHO.

My dad owns 600 points at OKW and he just told me on Friday that he's putting his contracts up for sale because he's having too much trouble booking what he wants anymore. Granted, he's talking about the 7 month window, not about booking at 11 months so that's a little different, but still...he's selling because he can't get into where he wants anymore. I think that so many new members added in a small amount of years puts a lot of demand on certain resorts at certain times of the year, and that is frustrating a lot of owners. Some are so frustrated that they sell.

 

[TiggerBouncy]

Keep in mind you can't make a lot of money buying and turning around to sell. DVC maintains the right to buy the contract back from you and will do that if you try to sell it for too much profit.

 

[supersnoop]

Keep in mind you can't make a lot of money buying and turning around to sell. DVC maintains the right to buy the contract back from you and will do that if you try to sell it for too much profit.

That makes no sense. Disney pays the negotiated price. So, Disney would pay you the profit.

 

[KAT4DISNEY]

Keep in mind you can't make a lot of money buying and turning around to sell. DVC maintains the right to buy the contract back from you and will do that if you try to sell it for too much profit.

As Snoop said, it has no effect on the seller. As a buyer they might have difficulty getting a lower priced contract but selling won't matter. DVC doesn't care and can't change the "profit". And even on the buying side they don't buy everything back.

 

[sndral]

... Also, the difficulty we had had for 2+ years in booking what we wanted, the ease and inexpensiveness of trading into DVC through RCI should we so desire, etc. played into the decision. Things change, including family situations and DVC itself. I'm sure all those things play roles in why people list their DVC for sale.

I'm curious - where you having trouble at your home resort at 11 months, or was it 7 month competition? I ask, because I sense that competition has increased due to the addition of lots of new members ((AKV, SSR, BLT, VGF, Poly, Aulani) which would point to 7 month problems and/or the booming rental business (7 mo. and maybe 11 month problems) and am wondering whether your experience in the last 2 years reflects this.

 

[LoveBWVVBR]

I'm curious - where you having trouble at your home resort at 11 months, or was it 7 month competition? I ask, because I sense that competition has increased due to the addition of lots of new members ((AKV, SSR, BLT, VGF, Poly, Aulani) which would point to 7 month problems and/or the booming rental business (7 mo. and maybe 11 month problems) and am wondering whether your experience in the last 2 years reflects this.

It was at 11 months at our home resorts (BWV and VBR). We could NOT get into Vero at the times when we could go in the unit size we needed. Granted, it's a small resort, but still. We travel on the school breaks, so obviously high-demand times. It just changed to the point where we'd have to "walk" the reservations to even get the unit type and size we wanted at 11 months and we refused to do that. That combined with the big hike in AP costs were the things that pushed us to sell. I'd given up trying at 7 months. There was just no way to get into the high demand resorts at the times we were traveling. I never thought about the rental market being what was driving that competition...I just assumed it was all the new members trying for those resorts at 7 months.

 

[Popouri DVC]

I have to say that I'd consider selling also if I couldn't get what I wanted at my home resort at eleven months...

Hope it never comes to that

 

[rg35]

I agree that this is speculation. We owned Vero and Boardwalk and that's not why we bought or sold Vero. We did so because we had a year's worth of banked points on that contract in addition to the current year's points and we just couldn't get in when we wanted to go It's a small resort with a lot of demand IMHO.

My dad owns 600 points at OKW and he just told me on Friday that he's putting his contracts up for sale because he's having too much trouble booking what he wants anymore. Granted, he's talking about the 7 month window, not about booking at 11 months so that's a little different, but still...he's selling because he can't get into where he wants anymore. I think that so many new members added in a small amount of years puts a lot of demand on certain resorts at certain times of the year, and that is frustrating a lot of owners. Some are so frustrated that they sell.

Curious what he was looking for at OKW that was difficult to book...it's the largest and easiest DVC resort to book out of all of them...I was able to get a 1BR at only 4 months for june/july.

 

[kboo]

Curious what he was looking for at OKW that was difficult to book...it's the largest and easiest DVC resort to book out of all of them...I was able to get a 1BR at only 4 months for june/july.

I think the PP was saying that trying to book at *other* resorts at the 7 month window was too hard. I recently rented points at exactly 7 months out at BLT, BUT we weren't able to get a standard and had to get a lake view. And we tried renting points for our trip last May at around 7 months out (back then I didn't have any sense of the timing necessary), and the only places available for a studio were OKW, SSR and AKL. Anecdotal, I know.

 

[Ohana2011]

I have a sixteen and a seventeen year old. My son - the seventeen year old, was pretty done around twelve. However, Universal still appealed to him for a few years and you can rent a car and drive over. My daughter still likes Disney - and plenty of people here have raised kids who love Disney.

We haven't been in three years - we are going again next summer. My son will be almost eighteen and will be staying home (with my mother so we don't come home to a trashed house - high schoolers do not make good housesitters). My daughter will be going with us and bringing a friend. Two years ago, we took my Girl Scout troop to Hilton Head and used the points that way. Two and a half years from now, my daughter will be heading off to college, and I expect to rent some points and use some points for her to roadtrip down for Spring Break a year or two in college. So about seven years from now, my daughter will be done with college, and my husband and I will be looking at being sixty. I'm hoping we are both semi retired by then and will use the points to escape Minnesota in January or February. If not, we will rent and then use the points to escape when we are ready.

Had brokers not become a thing, I think we would have sold. I'm not one to bother with renters and renting. But fortunately for us, a broker makes the rental process pretty easy and more than covers the dues.

Why does the idea of my daughter going to Disney for spring break make me feel a whole lot better than the vision of her going to somewhere like Cancun?

 

[Ohana2011]

We just put a contract up for a sale….we bought 2 equal contracts years ago but now with kids entering High School & college age and we don't get to WDW as often we decided to sell one of the contracts. So that one contracts will give us the same amount of points, just every other year.

For me I don't understand the newer contracts that are up for sale already like Aluani or the Poly.

Aulani I & Poly... I agree. Buyer's remorse? Perhaps they were caught up in the moment or were easily persuaded by the sale... After our first DVC tour, I wanted to jump right in & purchase VGF. It really wasn't the time for us as I was still in school / changing careers. Now my hubby & I are in a better place to make the move. Had we purchased back then, we probably would have been part of that statistic.

 

[crisi]

Why does the idea of my daughter going to Disney for spring break make me feel a whole lot better than the vision of her going to somewhere like Cancun?

Because geeky college kids go to places like Disney, where it isn't one huge pick up scene and if they do meet someone, its likely to be someone more interested in discussing Pixar animation than drinking a 24 pack by themselves.

However, sometimes you don't get a choice in what young adults want to do. My son - he's going to a beach where he will see if he can drink a 24 pack by himself. And as long as none of his young adult stupidity leads to life altering circumstances - its young adult stupidity. I can think back to my own young adulthood and say "I hope my own kids have the sense never do THAT!"