Am I crazy?

[CarolA]

Miss Met,
You complained folks were taking you seriously. Sorry if you don't like someone pointing out that IMHO you started off as "I am not serious"

As I pointed out, resale brokers list what the seller TELLS them they want.

From the ROFR thread.... this is what folks PAID!!!

PASSED - SSR:
michamato ----------- 150 SSR (Feb) $82, 19 banked pts, buyer pays closing and ’07 MF, (sub 2/05) – non-member
Princess Roo --------- 55 SSR (???) $86, 51 ’06 pts (31 xfrd in) & no ’07 pts, Buyer pays closing & seller reimbur’07 MF (sub 2/12) – non-mem
dhluvsDisney --------- 150 SSR (Jun) $86, all pts coming, ??? pays closing and MF (sub 2/13, pass 2/20) – members
Bockegg ------------- 160 SSR (Apr) $82, 160 pts, plus 116 banked pts, Buyer paid closing & ??? MF (sub 2/16, passed 2/23) – non-member
Teyedoubleguhrrr ----- 150 SSR (Mar) $84, 15 ’06 pts & all ‘07 pts, buyer/seller split closing & buyer pays all MF, (sub 2/19, pass 2/27) non-member
Teyedoubleguhrrr ----- 150 SSR (Mar) $84, 20 ’06 pts & all ‘07 pts, buyer/seller split closing & buyer pays all MF, (sub 2/19, pass 2/27) non-member
PrincessV ------------ 130 SSR (Mar) $84, all ’07 & ’08 pts, buyer pays closing (sub 3/09, pass 3/19) – non-member
The Gallos ----------- 150 SSR (Feb) $82, 132 ’07 pts & 150 ’08 pts, buyer pays closing & prorated MF (sub 3/12, pass 3/19) – non-member
theoarn ------------- 125 SSR (Feb) $84, 107 ’07 pts & all ’08 pts, ??? pays closing and MF, (sub ???, pass 3/19) – non-member
4DisneyGolfnuts ------ 150 SSR (Apr) $81, 150 ’07 pts coming?. Seller pays closing (sub ???, pass 3/20) – member ?
Parkhopper13 -------- 210 SSR (Sep) $85, 210 '05 points banked (use by 9/1/07), 210 banked '06 & ’07 pts, buyer pays closing, buyer pays ’07 MF (sub 3/9, pass 3/19) – member
Dano2007 ------------ 200 SSR (Oct) $84, 11 '06 pts banked, all '07 pts coming, buyer pays closing (sub 3/20, pass 03/31) – non-member
Dman67 -------------- 150 SSR (Dec) $84, all '06 & '07 points, buyer/seller split closing, seller pays '07 MF on 102 points (sub 3/26, pass 4/2) – non-member
pmso2 --------------- 150 SSR (Aug) $84, all ’07 and ’08 pts, buyer pays closing and MF (sub 3/23, pass 4/2) – non-member
PIERCEDRN ----------- 150 SSR (Sep), $84, 150 '06 points, 150 '07 points; buyer pays all closing costs but $195 GMAC fee (sub 3/22, pass 4/3) - non member
bbangel -------------- 100 SSR (Apr) $83, all ’07 pts, buyer pays closing and MF (sub 3/28, pass 4/9) – non-member
Mickey Moose -------- 160 SSR (Sep) $84.37 all ’06 & ’07 pts, buyer pays closing and MF (sub 4/4, pass 4/11) – non-member
Amy5000 ------------- 100 SSR (Oct) $84, banked '06 and all '07 pts, buyer pays '07 MF, seller pays $195 GMAC admin fee, buyer/seller split closing (sub 4/10, pass 4/18) – non-member
Coach81 ------------- 150 SSR (Dec) $86, all ‘07 & ‘08 pts, buyer pays closing & MF (sub 4/4, pass 4/20) – non-member
2tkk8602DVC --------- 200 SSR (Feb) $83, 152 pts currently avail & 200 ’08 pts coming. Can close 7/7/07. ??? pays closing (sub 4/13, pass 4/20) – non-member
DisDreamerKJ --------- 150 SSR (Oct) $84, 150 ’06 banked pts & 150 ’07 pts coming, buyer pays closing and prorated MF (sub 4/5, pass 4/16) non-member
CarolA (seller) -------- 50 SSR (Jun) $85, all ’07 pts, buyer pays closing, seller pays ’06 MF (sub 4/21, passed 5/8) – member (seller)
ssdelaney ------------ 200 SSR (Feb) $85, all '07 and '08 pts coming, seller pays closing costs, buyer pays '07 fees (sub 4/27, passed 5/10) - non-member
DisneyTripper --------- 100 SSR (Dec) $85, 48 '06 pts, all '07 coming, (sub 4/30, passed 5/10)
SarahAndMike -------- 175 SSR (Oct) $83.50, all '07 coming
rdblanton ------------- 150 SSR (Aug) $83, 51 '06 pts, 75 banked '06 pts, all '07 pts, buyer pays closing, buyer pays '07 mf (passed 5/30)
wonka27------------- 120 SSR (Jun) $83.33, no '07 pts, all '08 pts, buyer pays closing, seller pays 07 mf (passed 5/30)
naf917--------------- 210 SSR (Sep) $82, 143 '07 pts, buyer pays closing, buyer pays part mf - non-member (passed 5/30)
DisneyDukeGirl ------- 120 SSR (Apr) $85, 84 pts '07 pts available, all '08 available (sub 4/30, passed 5/10)
wisconsinmom--------- 40 SSR (Jun) $90, no '07 pts, all '08 pts, seller pays closing, buyer pays admin fee, buyer pays mf startin in '08 (passed 6/19)
BankBunny------------ 200 SSR (Feb) $80, 1 '07 pt, 141 '08 pts, all '09 pts, buyer pays closing, buyer pays mf on 1 '07 pt & 141 '08 pts, seller pays mf on 59 '08 pts (sub 6/13, passed 6/26)
Nicoal13-------------- 100 SSR (Feb) $85, 94 '07 pts, all '08 pts, buyer pays closing and '07 mf (sub 6/18, passed 6/27) - Non-member
tfitz5392------------- 150 SSR (DEC) $79 19 '06 pts, all '07 pts (passed 6/27)

You may notice that a LOT of the SSR contracts over 100 points seem to go for less then the $85 you plan to ask. So your option then would be leave it on the market (and not use the points since most of the brokers are pretty serious about "don't touch it once you list it") or take less money. I got $85 for my contract, but it was a 50 pointer. The last post on here for 150 SSR points sold for $79!!!

 

[vwlvette]

You certainly know how to start a thread!! lol, Take what folks are saying for what it's worth, When you ask for an oppinion on here there is no lack of response.

Seems to me that too many responses are judgemental not helpful. Folks, just because she is 21 do not under estimate her, instead give her credit, She comes on here to ask for some advise, not to get bashed.

Just take your time, think it through, run the numbers, then do what you feel is correct for you. I am sure that some on here that have been so judgemental have lost money on some decissions. Just make the decission with your head not your heart. That advise goes for marriage too!!! lol not to mention the baseball team you support! lol

Good luck!! (on your decission not the team you support)

 

[ZekeKelso]

Two pieces of advice here…

First, assuming you aren't impulsive and immature, trust yourself. You've recently made two $20,000 purchases. In each case, you carefully examined all the pros and cons, and reached the conclusion that SSR and AKL were the right places for you. What would be impulsive is throwing away your earlier decisions without giving them a fair chance.

I suspect you are experiencing classic buyers remorse - people get it even when they make the absolute right call. Give it at least a few years before spending the money to change your mind.

Second, don't put your hopes on Pedro coming back strong. While the guys is awesome *when he's healthy*, he's too fragile to count on. And if you happen to have a lead in the 7th game of the NLSC, and Pedro looks like he is tiring, get the guy out of there before it's too late!

 

[kimberh]

I really hate that you love BWV's and were talked into SSR. When I called Disney to buy BWV's my guide mentioned SSR to me, I called for BWV's and I Bought BWV's. I do hope you get through this without losing thousands. I have read this whole Thread and I Congratulate you for getting up at 4:30am to start your second job to pay your DVC's off. Stay focused, run the numbers.

 

[crisi]

You've put $40,000 into DVC in a very short period of time. That is, for most people, a heck of a lot of money (at least, its a heck of a lot of money to me). You are talking about flipping a contract and probably taking a $2000 or so loss. That's 5% of your initial purchase price (don't fool yourself, DVC is NOT an investment). You are paying something like $1700 a year in dues alone - and you are talking about a switch that will add about $175 to your dues bill - over the next 34 years that has a present value of about $2k (using an 8% rate). The cost to flip the contract is so small as a proportion of your total costs that it should be immaterial. If it isn't, and its causing you consternation, which it apparently is, than you may have been unwise in spending $40,000.

I feel that I'm the minority who IS NOT going into debt for DVC.

Did you or did you not take out a loan for DVC that you want to pay off with your SSR proceeds? If you did, you are in the majority that went into debt for DVC. You seem to have an interesting way of using language - claiming no debt with a loan and using the word investment to describe your purchase of a timeshare. Sure you are motivated, but we can be motivated in ways that are not in our own best interest.

 

[rugrats2001]

All I care about is paying off what I owe for SSR, if I am going to sell.

It sounds like you are well on your way to meeting your DVC goals. Good Luck!

 

[flyerron]

You need to sleep on this for a few weeks & see how you feel about it then. It is always better to allow a bit of time to intercede in these decisions. Impulse buying & selling is rarely productive. Think this through & make an intellegent choice not an emotional one.

 

[Tamar]

I only read 3 pages of this thread, so may have missed it if someone else suggested it, but why not rent out some SSR points to others, and use the proceeds to rent BWV points for those times when you need an 11 month booking window (like in November)?

That way, you'll have some time to pay off what you owe, and make a decision without those loans being a factor.

 

[RumpleMom]

I'm wondering how a single, employed 21 year old has enough vacation time to use all of these SSR points plus 200 AKV points.

Who are you vacationing with, if anyone? Can you ask them to pitch in some money for the use of these points or are you treating? I wouldn't expect someone to give me free vacations. Charging family and friends something would help you to save some money.

Remember the other costs associated with going on vacation- travel expenses, food, park tickets...

Congratulations on being ambitious and working 2 jobs.
Our financial planner stressed the importance of starting an IRA with a few dollars now really adds up over a lifetime with compounding interest.

 

[tgj]

Here is what I think. I think that if at 21 you have enough money for at least 350 DVC points then you are either very foolish or relatively rich. If you are foolish, than go for it, because you might as well - reality will hit sooner or later over something and there is no talking sense to a fool. If you are relatively rich, than the difference between what you will sell your SSR points for after commission and buy your BWV points for is insignificant and your happiness is worth more to you than a few grand.

This is one of the best responses I have ever read on these boards....

Pithy, insightful and concise. It crystalizes three pages of posts into four or five lines. Perfect. Would that all posts (including most of mine) be like this one!

 

[rbl291]

Ok here is some far out there advice! Since you have been fortunate enough in your 21 years to be able to buy any DVC ownership congratulations for that success in your young life!

If you have the ability to purchase BWV through Disney I would start doing that as add-ons (maybe 50 pts at a time) until you accumulate what you need for your vacation style. You will continue with the same UY you hav e now. Then, once that is done, you may want to sell off one or more of the SSR or AKV contracts. You can always rent them out to help financially if needed for a while while still retaining options! It sounds like you may be able to do that in a relatively short time-frame, accomplish your goals and not suffer any loss from the fast turn over resale of your SSR contract if you sold it now to buy BWV through resale. Remember, its never a good idea as you have found to rush or be pressured into anything. Let what you have done settle in for a while, while adding the BWV as you are able! Heck, at 21 whats a few years?

You might actually find you want to use SSR and AKV as well as get that BW view room for special occasions when you have enough points. It also allows for lots of that uncertain future flexibility! Best of Luck to you!

 

[lurontravel]

I think that last post by rbl291 is some of the best advice for you yet. I like the idea of purchasing a few more points at a time through Disney (so you'll have your necessary financing), remembering you can rent out some or all of your SSR point in the mean time as necessary to keep finances in check. I'd go a step further, and suggest that you consider keeping your SSR points (again, renting as needed), and then you'll also continue to own the points for an extra 10 years (though, notably, not at your favorite DVC). Isn't that what it's all about? Spending the extra 10 yrs there on vacation during your retirement will be a nice bonus feature for you. I have often thought of adding on 50 points or so at BWV's too, and though we never financed before, I am considering doing so and going through Disney for my add-on. Enjoy your vacations at DVC.
PS Have you tried waitlisting at BWV's (I agree you aren't likely to get a BW view often, if ever not being an owner at BW)?

( I put this up per my son Andrew's request)

 

[Cruiser1969]

Ok here is some far out there advice! Since you have been fortunate enough in your 21 years to be able to buy any DVC ownership congratulations for that success in your young life!

Warning: I'm sorry if this offends you, Miss Met, or any other early 20's DVC owner

I just have to say this . . .How can you congratulate a young person for putting herself in debt at such a young age? I know that if my 21-year-old decides to take out such large loans for DVC or any luxury item for that matter, I will be very disappointed. I would hope a sound education and a solid house investment should be accomplished first (I am in no way asking you about your personal situation, Miss Met) Even with these things accomplished, 21 seems so young to take on such a burden. I just don't think this poster should congratulate MissMet because I do not feel this is a success. I'm sorry, but anyone can take out a loan . . . this is NOT success!

OK . . . I'm fully outfitted . . . hit me with your flames

 

[Judique]

Warning: I'm sorry if this offends you, Miss Met, or any other early 20's DVC owner

I just have to say this . . .How can you congratulate a young person for putting herself in debt at such a young age? I know that if my 21-year-old decides to take out such large loans for DVC or any luxury item for that matter, I will be very disappointed. I would hope a sound education and a solid house investment should be accomplished first (I am in no way asking you about your personal situation, Miss Met) Even with these things accomplished, 21 seems so young to take on such a burden. I just don't think this poster should congratulate MissMet because I do not feel this is a success. I'm sorry, but anyone can take out a loan . . . this is NOT success!

OK . . . I'm fully outfitted . . . hit me with your flames

No flames, but I don't think it's quite as bad as you see it. MsMet sees herself as paying off in two years. If she can succeed in doing that, more power to her. And to give her some credit, she could be spending her paycheck on a lot of frivolous items at age 21. Good luck, MsMet! Enjoy your DVC and see you at BWV (my home)!

 

[vwlvette]

No flames here either!
If I did not take the actions at 19 that I did I would not be in the position I am in today. I took alot of chances that others would not have, with hard work and dedication I accomplished what I set out to do, and more.

As I see it, MissMet, is a Disney lover, who is trying to set up her Disney future the right way. What would one say if there 21 year old daughter working 2 jobs came home and told you that she just bought a new car, on a loan, lets say a 2007 Corvette. How would that fly? Would it be better if it was a 2007 Chevy Cavalier? No offense to the Cav drivers, Just making a point.

For what it is worth, MissMet seems to be a hard working young lady, I, for one, give her credit.

 

[windi622]

I'm wondering how a single, employed 21 year old has enough vacation time to use all of these SSR points plus 200 AKV points.
QUOTE]

I have read this whole thread, and I have to say this comment annoyed me. MissMet did not ask anyone to plan out her vacation time, she is looking for advice on purchasing a DVC contract. I'm pretty sure she can figure out the vacation time herself. And for the record, I am a 24 year old girl who has 4 weeks vacation each year. I could find plenty of time to spend those points.

 

[PEANUT1]

I don't necessarilly think Miss Met is foolish per say..I try not to judge others. I think that some people would look at a 40k loan for DVC as unwise when you do not already own a home. You are still paying al heck of a lot of interest even if you pay it off in 2 years.

Perhaps, in 2 years after the loan is paid off, you could use your hard work and money towards some real investment options.

I am 10 years older than you and only have half as many points

but mine was paid for in cash

Good luck with your decision.. IMO it seems better money sense to keep your original contracts. After your loans are paid off, then try to sell and rebuy without taking out a loan.

 

[crisi]

No flames here either!
If I did not take the actions at 19 that I did I would not be in the position I am in today. I took alot of chances that others would not have, with hard work and dedication I accomplished what I set out to do, and more.

As I see it, MissMet, is a Disney lover, who is trying to set up her Disney future the right way. What would one say if there 21 year old daughter working 2 jobs came home and told you that she just bought a new car, on a loan, lets say a 2007 Corvette. How would that fly? Would it be better if it was a 2007 Chevy Cavalier? No offense to the Cav drivers, Just making a point.

For what it is worth, MissMet seems to be a hard working young lady, I, for one, give her credit.

If my own 21 year old daughter came home with a 2007 car (and car loan) working two jobs, no matter what car it was, I'd be very disappointed - those are not the financial values we are trying to pass onto our children. Unless she already has a fully funded 401k, has a house, has six months of savings in the bank and ENJOYED working two jobs. In which case my 21 year old would be relatively rich - and still should have waited until she could have paid cash.

If MissMet can pay off this loan in two years - and fund all her other financial priorities and keep herself financially secure, she is relatively rich for a 21 year old, in which case she should sell SSR and buy the resort she loves. Anyone who has the cash flow to pay off approximately $40,000 of luxury purchase in two years at 21 while putting $15k a year into their 401k shouldn't worry about a few grand. It might have been WISER to have paid cash when she was 23 than to go into debt at 21 - or to have done the research to buy the right resort up front, but I think that's a piddly argument if she has that kind of cash and no place else to stick it - and frankly, those are my values, not hers. And I wouldn't work two jobs to do it, but I'm lazy and my non-vacation free time is worth more to me than that.

(I won't say she needs to save for a house, she may not want one. She should however have enough money to live on for six months and be saving for retirement before buying DVC. Any 21 year old who thinks someone else is going to take care of them in their old age hasn't been paying attention. And old age, as us old people know, comes a lot faster than you think - and life only gets more expensive and that 401k harder to afford. Especially if kids enter the picture. And there is no such thing as a "safe" job - we all are subject to being laid off.)

 

[windi622]

Crisi- Please just be sure that you teach your children to establish some sort of credit before trying to purchase that first house. Let them get a car loan, and pay it off...or a credit card, which they do not carry a balance on. Raising our kids to have no credit at all, is not doing them any service. No credit might as well be bad credit.

 

[crisi]

Crisi- Please just be sure that you teach your children to establish some sort of credit before trying to purchase that first house. Let them get a car loan, and pay it off...or a credit card, which they do not carry a balance on. Raising our kids to have no credit at all, is not doing them any service. No credit might as well be bad credit.

Some credit is fine. I have and use credit cards all the time - and pay them off each month. I'm not saying credit is bad - I'm saying large loans aren't smart for luxury purchases - really no matter what your age.

(Although you have no problem buying a house if you have no credit and 20% down).

I'm also saying if one needs a loan, the difference between a 60k Vette and an $14k Cavalier would both be disappointing if my 21 year old needed a car loan. I'd expect her to come home with a $6k loan for a five year old Cavelier (or equivalent car).