Discussion in 'Purchasing DVC' started by wdrl, Aug 9, 2010.
Ditto...also waiting on an AKL contract and I am nervous.
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I was just ROFR'd today by Disney at day 22 at VWL for $58 per point!
Wow, they are ROFR-ING a lot I am expecting to get ROFR'd at this point. So sorry
What were your contract details? We are waiting on VWL as well. 150 pts all of 2012 and 2013, $67 a point.
It was 150 points, dec use year, 187 points dec 2012 available.
I feel the same way - bought a few resales and never felt as it would ever happen now I am nervous!
Could Disney be aggressively going after ROFR in advance of the new restrictions and the "Classic" collection later this month? I'm in the hopper with my second try and if this gets picked up I may just give up.
I would think some of the ROFRg is because of good bargains, some for BWV and BLT is because of the webcast offers and the rest is because there will be a lot of members that want small contracts before the price increase on March 20th. DVD can ROFR a large contract and sell the points in multiple contracts. DVD is only restricted to using the same UY. So if one of the popular UYs for a resort has a good price and good deal on closing costs DVD will grab itself the contract sell it for double the price later. And points from that contract can be turned over to CRO as rental income, if sales don't materialize. It sounds like a win, win situation for DVD.
How much per point?
We found out yesterday we passed ROFR!!!
With the recent announcement effective March 20th of a substantial price increase per point to buy direct,
AKV from $140 to $145
AUL from $140 to $145
BCV from $115 to $130
BWV from $115 to $130
HHI from $80 to $115
OKW from $100 to $130
SSR from $110 to $130
VB from $75 to $115
VWL from $102 to $130
VGC from $130 to $165
I wonder if that will increase contracts picked up by Disney via ROFR or will it increase the resale price or both? Comments?
And what is BLT going to?? $165 also?? If that is the case GFV will definitely be at $165 - $175.
Just got ROFR today on BWV 155pts at 55dollars and march use year.
Notified today of Disney ROFR on BWV, $68 per point. Feb use year.
Can't wait to see the March data. ROFR monkey has been going ape-shoot.
After a couple months with little ROFR activity, things picked up in March 2013. Disney Vacation Development exercised its Right of First Refusal on 28 resale transaction deeds containing 6,034 points in March 2013, almost the same of points that were ROFRed in January and February (6,060 points) combined.
Given DVD's recent marketing focus on selling previously "sold out" DVC resorts, increased ROFR activity in March was expected. However, the number of points ROFRed in March was only the fourth highest number of points in the last 12 months.
As has been the case since the later half of 2011, more deeds (9) and points (2,634) were ROFRed for Old Key West than any other DVC resort. Saratoga Springs and Resort (1,545 points) and Villas at Wilderness Lodge (1,020 points) had higher than normal ROFR activity during March.
Despite reports that DVD is exercising ROFR on Boardwalk resale transactions, none have yet to be recorded on the Orange County Comptroller's website. Since the warranty deed signifying that DVD has ROFRed a resale transaction is not recorded until after closing, its not unusual for there to be a delay of one to three months before these deeds appear on the OCC website.
Although no BWV deeds were ROFRed, DVD did reacquire four BWV deeds containing 834 points through foreclosure proceedings during March 2013.
I am in the process of compiling the number of times in March DVD waived its Right of First Refusal on resale transactions. I will post my findings in this thread: http://www.disboards.com/showthread.php?t=3086935 within the next day or so.
Please see mac_tic's thread on ROFR activity for more detailed information about recent ROFR activity.
From June 2010 through March 2013, Disney Vacation Development exercised ROFR on an average of 13.9 deeds and 2,950 points a month.
In April 2013, many more deeds and points were ROFRed than any other month. 73 deeds containing 15,127 points were ROFRed, according to warranty deeds filed with the Orange County Comptroller and the Indian River Clerk of Court.
From June 2010 through July 2011, Beach Club Villas was the focus of Disney Vacation Development's ROFR activity. Of the 29,187 points reacquired via ROFR, 88.8% of the points were for that resort.
In August 2011, DVD's ROFR focus began to shift toward Old Key West. From that point through December 2012, 69.5% of the 59,049 points ROFRed by DVD were for Old Key West.
Since the start of 2013, Old Key West still accounts for more ROFRed points than any other DVC resort. However, DVD is also exercising ROFR on several other DVC resorts. In April 2013, for the first time since I began tracking ROFR activity, at least one deed was ROFRed for each of the eight DVC resort for which data is tracked (HHI, VGC, and Aulani are not tracked).
The Orange County Comptroller's website does not display the price paid by DVD to reacquire these deeds. However, the Indian River site, which services Disney's Vero Beach Resort, does show the sale amount. It shows that the two Vero Beach deeds that were ROFRed in April were reacquired at $24 a point.
I'm confused about the last bit of information - the 2 Vero Beach ROFR'd at $24 a point - we had a VB contract taken on March 22 that was $38 point - what happened to that one in mix?
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