Big News

[DougEMG]

To those saying that this change will not/should not affect the resale prices, I have a couple of questions for you should you become a resale buyer.

1. How many of you would pay more for a resale contract than the current listed values after these changes go into effect?

2. How many of you, as buyers, will argue that you will not pay that price because now you can’t book at the new resorts which lowers their value when talking to the brokers?

Come Jan 19th your options are:
(1) Buy direct and stay anywhere
(2) Buy resale classic 14 and stay at any classic 14
(3) Buy resale Riviera and stay only at the Riviera

Option 2 is still going to be based on what option 1 costs. There is no option 4 that allows you to buy resale and stay everywhere, so that doesn't enter the equation.

In my view, the classic 14 resorts will be more valuable as they already have the best locations. Until DVC builds a resort that is hugely more popular than resorts like BWV, BCV, BLT, VGF, POLY, AKV I don't think there is any danger of classic 14 resorts dropping in price (other than based on remaining contract life).

 

[Phatscott25]

Who on here, based on what they have seen or heard, prior to this announcement, actually was looking forward to Reflections or Riviera?

I may in the minority, but, prior to the announcement, I was very much looking forward to buying Riviera. My wife and I love BLT (lack of theming and all) and this appears to be similar, with some VGF thrown in. Add the rooftop restaurant and Gondolas and yes, I've been anxiously waiting for sales to begin. Sure, it isn't right next to a park but if the gondola works as speculated five minutes to IG is pretty good.

Now I'm torn, I still have a strong desire to buy there and I haven't bought a contract I ever plan to sell so I like to think it won't matter. But, there's always that "if". And I'd hate to be sitting on something worthless (rather, worth much less than I paid) in 10 years should my viewpoints change. It's too bad because DVD most likely just lost a sale but in the end it won't matter. They'll sell it out without me.

 

[ParkHoppers]

If I buy one of the new resorts I am just telling myself I will gift it to someone if I don’t want it someday. That way I won’t think about the value. We also own at BLT

 

[TexasChick123]

If I buy one of the new resorts I am just telling myself I will gift it to someone if I don’t want it someday. That way I won’t think about the value. We also own at BLT

Honestly if the resale values go down down by enough, I’m right there with you. We’ll see!

 

[4luv2cdisney]

If I buy one of the new resorts I am just telling myself I will gift it to someone if I don’t want it someday. That way I won’t think about the value. We also own at BLT

We plan on gifting to our children unless they can't afford it or dont want it. They are already nearly grown so it's highly unlikely we would sell before they were able to take it on and if they sell the contacts we gift them.... it cost them nothing.

 

[bumbershoot]

You don't buy VGF, Poly, BCV, or BLT points to sleep around.

Hmm. We bought Bay Lake in 2009. It was 2016 when I first stayed at Bay Lake. And that was just me (and my cousin). My then husband never actually stayed at the resort he bought. OKW, SSR, AKV, AKK, BWV, GFV, VWL...stayed at all those. I've since stayed at Bay Lake one more time. It's OK, but the lobby smells so so so bad to me, and it takes 2 weeks to wash it out of my clothes once home (it permeates everything). I don't need that sort of thing, so I now book it for Princess then work to change starting at 7 months.

So....

 

[Dean]

We plan on gifting to our children unless they can't afford it or dont want it. They are already nearly grown so it's highly unlikely we would sell before they were able to take it on and if they sell the contacts we gift them.... it cost them nothing.

Not necessarily true. If they own it and can't get rid of it their on the hook for the dues. And while they can decline it as an inheritance, the estate is still responsible for it and the dues.

 

[Phatscott25]

It's OK, but the lobby smells so so so bad to me, and it takes 2 weeks to wash it out of my clothes once home (it permeates everything).

Wow really? My wife and I always say that we wish we could bottle that scent and take it home. Different strokes for different folks I guess.

 

[TexasChick123]

Wow really? My wife and I always say that we wish we could bottle that scent and take it home. Different strokes for different folks I guess.

I also love the smell. Too funny.

 

[miTnosnhoJ]

I also love the smell. Too funny.

We love the smell at VGF. I even found out the company that makes the machines that spread the scent.

 

[4luv2cdisney]

Not necessarily true. If they own it and can't get rid of it their on the hook for the dues. And while they can decline it as an inheritance, the estate is still responsible for it and the dues.

I guess if there's a time where they can't sell it for $1, we're all screwed!!

 

[Dean]

I guess if there's a time where they can't sell it for $1, we're all screwed!!

The reality is there will be a point for all of the contracts where you can't give it away, whether it's the last year or 2 or earlier, we simply don't know. In part it depends on how much pressure they can put on resale. What I was pointing out is there are 2 sides to the equation and it's not just if the economy is in such shape that no one cares anyway.

 

[Matty B13]

If they come up with a Poly 2 DVC Resort with 2 bedrooms, then I'll be in for buying direct, but nothing so far seems that great with DVC2.

 

[sky2823]

anyone have any viable ideas on how they can transition expiring contracts so owners can have a soft landing?

I know OKW didn’t go very well but was wondering if the board had any ideas

 

[Dean]

anyone have any viable ideas on how they can transition expiring contracts so owners can have a soft landing?

I know OKW didn’t go very well but was wondering if the board had any ideas

I'm not sure about soft landing but the bottom line is the resorts will expire on a specific date, not soft landing in the regard. As to how they'll handle dues, banking, borrowing and reservations; non of use know but they have options. My personal guess is they'll limit banking the last 2-3 years and have some type of way to allow reservations the last year and distribute dues accordingly. Whether it's a priority list, lottery or first come first serve is unknown.

 

[KAT4DISNEY]

We love the smell at VGF. I even found out the company that makes the machines that spread the scent.

And supposedly it's the same scent used at BLT - and BCV.

I too find BLT a bit overwhelming when there - in the 1st floor hallways - but I also have a sensitivity to the underlying scent that they use. It does not bother me at VGF or BC/BCV - it just isn't as strong there. It doesn't keep me from BLT though nor am I sensitive enough to find it lingers.

 

[sky2823]

I'm not sure about soft landing but the bottom line is the resorts will expire on a specific date, not soft landing in the regard. As to how they'll handle dues, banking, borrowing and reservations; non of use know but they have options. My personal guess is they'll limit banking the last 2-3 years and have some type of way to allow reservations the last year and distribute dues accordingly. Whether it's a priority list, lottery or first come first serve is unknown.

I’m just wondering if they are going to figure out a way to keep those members on expiring contracts part of DVC with some sort of incentive program where it’s not a total loss for them. As I have learned from the board (as I never thought of it from this perspective) we pay more in dues than we ever did on the original purchase.

When you have a loyal customer paying yearly dues (annuity) it seems like good business to do everything you can to get them into another “car” any way you can...

 

[Dean]

I’m just wondering if they are going to figure out a way to keep those members on expiring contracts part of DVC with some sort of incentive program where it’s not a total loss for them. As I have learned from the board (as I never thought of it from this perspective) we pay more in dues than we ever did on the original purchase.

When you have a loyal customer paying yearly dues (annuity) it seems like good business to do everything you can to get them into another “car” any way you can...

We'll see. The OKW extension was a fiasco and they need a large % of participation to make it workable. They overpriced the OKW extension by almost 100%, I see no indication they're going to give us a deal we can't refuse but we'll see. With the new DVC II coming, it's very possible they'll tie in any changes to the new system.

 

[skier_pete]

I guess if there's a time where they can't sell it for $1, we're all screwed!!

Disney would never let it sell for $1. They will set a minimum price and use ROFR to prop it up, at least at first while the resort is still in main sales. Once the resort is sold out, it will undoubtable drop lower - but again they still will keep it at some minimum through ROFR. That's why I was projecting $50-70.

 

[miTnosnhoJ]

And supposedly it's the same scent used at BLT - and BCV.

I too find BLT a bit overwhelming when there - in the 1st floor hallways - but I also have a sensitivity to the underlying scent that they use. It does not bother me at VGF or BC/BCV - it just isn't as strong there. It doesn't keep me from BLT though nor am I sensitive enough to find it lingers.

This is the company that provides the scents. People think the VGF scent comes from the Gingerbread house, but it really is added through the ventilation system. https://www.scentair.com