Discussion in 'Purchasing DVC' started by wdrl, Aug 9, 2010.
Log in or Sign up to hide this adverts.
There was a per-point cost. I don't recall what it was, exactly, but I do recall thinking that once you factored in inflation plus the fact that the extra years were far in the future, the cost was too high.
I believe it was $15 per point to extend.
Aahhh, I SEE! Thanks!
Very interesting and they are sure loving OKW. I wish there was a way for VGC to be included in this chart...
My opinion on the why OKW gets ROFRd and not SSR is...
OKW sells for $100 direct from Disney. SSR is $110. With those prices I would choose OKW over SSR (esp w the 2057 date)
OKW sold out a long time ago. And most every mortgage on OKW has been paid off. So the primary way for DVD to get points at OKW to resell is via the ROFR process.
For SSR, which was sold in the mid-2000's (when folks were over extending themselves) and there are prob still plenty of foreclosures that keep DVDs inventory full.
In January 2013, Disney Vacation Development exercised its Right of First Refusal on 17 deeds containing 3,880 Disney Vacation Club points. These are the fewest deeds and points ROFRed since August 2012, when only 16 deeds and 3,221 points were reacquired by DVD. January's total number of points is also significantly less than the average for the previous three months, which averaged 6,164 points a month.
I have only been tracking ROFR activity since June 2010, but the dip in ROFR activity does not seem that unusual for this time of year. January 2011 (7 deeds; 1,375 points) and January 2012 (5 deeds; 1,205 points) were also relatively slower months for ROFR activity. Therefore, I don't think the data for this current month is a harbinger of any changes DVD's use of the ROFR process.
As has been the custom since August 2011, more deeds and points were ROFRed for Old Key West (10 deeds; 2,245 points) than any other DVC resort.
Interestingly, three deeds for Bay Lake Tower containing 945 points were also ROFRed. Since only two BLT deeds containing 350 points were ROFRed in all of 2012, we might be seeing the start of increased ROFR activity for BLT. As of January 31, 2013, DVD had only 71,034 BLT points it could sell to the general public. DVD may decide to exercise ROFR more frequently on BLT deeds so that it has an adequate supply for its sales force. DVCNews.com will soon have an article about January's sales data that will have more specific data about BLT's remaining inventory.
As I posted previously, the Orange County Comptroller website no longer shows the sale consideration paid by DVD to reacquire these ROFRed deeds. However, the Indian River County recently revised its website and it displays the sales consideration amount. The one Vero Beach deed that was ROFRed in January 2013, was reacquired for $33.00 a point.
Thanks so much for this information, wdrl! Can you provide a link for one can look up the Indian River County sales consideration amounts? I am interested to see how much the SSR contracts that were ROFR'ed sold for.
Thanks for reading this thread.
Here is the link for Indian River: http://ori.indian-river.org/Home/index. Click on 'Name Search' and search for Disney.
However, only Vero Beach records are available at Indian River. SSR and the other DVC resorts at Walt Disney World are located in Orange County. You have to use the Orange County Comptroller's website (https://officialrecords.occompt.com/recorder/eagleweb/docSearch.jsp) to search for records pertaining to SSR. And as I mentioned in my prior post, OCC does not display the sales consideration amount.
for the Orange County website, which fields do you search to find the DVC properties? thanks!
Thanks for the info "wdrl"
Always an interesting read each month!
In February 2013, Disney Vacation Development exercised its Right of First Refusal on 11 deeds containing 2,180 points. As has been the norm since August 2011, most of these deeds were from Old Key West. Eight 8 deeds containing 1,600 points were ROFRed from Old Key West. Animal Kingdom Villas had the other 3 deeds containing 580 points.
The early part of the calendar year seems to be a relatively slow time for ROFR activity by DVD. In February 2012, only 3 deeds containing 550 points were ROFRed, while in February 2011, only 4 deeds containing 1,250 points were ROFRed. We can speculate why there is less ROFR activity during this time, but there is insufficient data available to form any supportable explanations.
January 2013 saw DVD ROFR 3 deeds from Bay Lake Tower, more than it had ROFRed from BLT in over a year. I thought this might signal the start of increased ROFR activity on BLT resales. However, no BLT deeds were ROFRed in February, suggesting that January's activity was merely a one-time anomaly.
During the DVC webcast in late February, DVD announced incentives for members who add on points from Boardwalk Villas. Obviously, DVD has an inventory of BWV points its willing to sell to the general public. However, its inventory of BWV points is not coming from ROFR activity. A BWV deed has not been ROFRed since September 2012, and only 4,395 BWV points have been ROFRed since June 2010. Despite this lack of ROFR activity for BWV, DVD sold 67,860 BWV points from June 2010 to January 2013.
My BLT contract was ROFRd by disney on February 21st. Perhaps it will show up in March's data. It was for a Dec UY and was for 200 points with 180 current banked points. It was for $95 point so it was surprising Disney picked it up.
Thanks for the heads up. I'll keep an eye out for it. I'm still putting together the February sales data and haven't started looking at the March data, yet.
I'd like to add to this as well. I had two VB contracts ROFR'ed on February 12. One for 100 points and one for 220. If that data does not show up in next month's update that will be troubling.
I had a total of 550 SSR points ROFR'd on Feb. 19. Just found out today about my 340 point SSR contract being taken back because no one had sent out notification. I was thinking since I had made it to 30 days it was mine- it's a good thing I called for an update or I'd still be waiting!
We just a SSR contract ROFR today. It was 150 point; Oct UY.
It sounds like the refusals are picking up at the end of the month. Waiting on an AKL contract, so the three from last month is a little disconcerting. Thanks for the hard work as always.
Separate names with a comma.