Buying at Vero Beach to Stay at WDW??

[DougEMG]

I do think it's very unlikely VB and HH will be extended even if the rest are but it's still possible.

I agree with you here. Given how poorly the OKW extension went, I wonder if any of the resorts are going to be given extensions. If there were to be any other extension offered I would think it would be BWV that would be next in line. Potentially within a couple of years, so I guess we'll see in not two long a time if other extensions are offered.

 

[Dean]

I agree with you here. Given how poorly the OKW extension went, I wonder if any of the resorts are going to be given extensions. If there were to be any other extension offered I would think it would be BWV that would be next in line. Potentially within a couple of years, so I guess we'll see in not two long a time if other extensions are offered.

I go back and forth on this subject. Part of me says they really have to find a way to extend but not tic off the OKW owners, another part says the OKW option went so poorly they won't offer any other extensions. At any rate, if they offer extensions, it'll be much different than the OKW option was. We'll see.

 

[Nigel8600]

That's great to hear. I'm sure you will be much happier in the long run with your pocket book and accommodations.

We have decided to withdraw our bid on VB and have put in a offer at AKV. Thank you to everyone that posted ! We really appreciate all the advice ! Hope to be a AKV owner soon !!

 

[tor]

As for natural disaster risk, all properties have some risk but VB is by far the most likely to have major damage and the most likely to have hurricane damage of all the resorts and that includes HI if you believe any historical info. After that HI is likely next, then HH. It's also the least likely to be rebuilt if it does sustain major damage along with HH. The POS says that if this happens and the plan is to rebuild, the members there can use their points elsewhere subject to other rules but if they plan is not to rebuild, the members cease to be members and other than any prorated insurance, would have no claims.

I believe Orlando has a higher risk of hurricane than Hilton Head. Last hurricane in Hilton Head was 1896. Orlando had 3 in 2004.

 

[disneynutz]

I believe Orlando has a higher risk of hurricane than Hilton Head. Last hurricane in Hilton Head was 1896. Orlando had 3 in 2004.

So HH is overdue? It only takes one direct hit to change your day.

Bill

 

[Dean]

I believe Orlando has a higher risk of hurricane than Hilton Head. Last hurricane in Hilton Head was 1896. Orlando had 3 in 2004.

While HH may not have been hit in a while, there have been multiple hurricanes in the area plus the risk to the area itself and the risk for the resort itself is far higher than for WDW roughly 60 miles inland. Plus if something does happen, the chances of the resort being rebuilt is far better for WDW than for either HH or VB.

 

[RobDoc]

I believe Orlando has a higher risk of hurricane than Hilton Head. Last hurricane in Hilton Head was 1896. Orlando had 3 in 2004.

From the Town of Hilton Head website:
"Between 1850 and 2001, 24 Tropical Storms have passed through (direct hit) Beaufort County. These include Hurricanes, Tropical Storms, Tropical Depressions, Subtropical Storms and Depressions, and Extra-Tropical Storms. There were 8 Hurricane strength storms, 10 Tropical Storms and 6 other storms tropical in nature. The Town of Hilton Head Island can also be impacted by storms that do not provide a direct hit or pass relatively close (near miss). Between 1850 and 2001, storms that passed within 50 miles of Beaufort County include 25 Hurricanes, 39 Tropical Storms and 17 other storms tropical in nature.

Since 1804, 12 Hurricanes have had impact on Beaufort County, the last being Hurricane Hugo in 1989 which did not leave damage to the Island but due to a mandatory evacuation, left an economic toll on the tourist industry."

While HH is certainly past due for a hurricane, it has been built to exceed construction standards for hurricane expectations and VB has been built to the same standards. VB also had 3 hurricanes in 2004 and suffered significant damage but was rebuilt without any additional expense to owners at that resort. IMO, the suggestion that either VB or HH might not be rebuilt is hyperbole and no more likley than suggesting that DVC resorts at WDW would not be rebuilt.

YMMV

 

[tor]

While HH may not have been hit in a while, there have been multiple hurricanes in the area plus the risk to the area itself and the risk for the resort itself is far higher than for WDW roughly 60 miles inland. Plus if something does happen, the chances of the resort being rebuilt is far better for WDW than for either HH or VB.

I'm not sure if 115 years with out a hurricane is good luck or good location but I don't believe Disney would want the PR mess of abandoning the people that own their. The time share industry was completely turned around by Disney's entry and something like not rebuilding or selling a property would be a huge hit.

 

[Dean]

I'm not sure if 115 years with out a hurricane is good luck or good location but I don't believe Disney would want the PR mess of abandoning the people that own their. The time share industry was completely turned around by Disney's entry and something like not rebuilding or selling a property would be a huge hit.

You have more faith in timeshares than I do. To be clear, I've previously stated clearly and specifically that I don't expect either issue to be very likely. However, I believe strongly that HH and VB (more VB though) are are at a higher risk of major damage from a hurricane than are any of the WDW resorts. I also believe that IF major damage to a significant portion happened, that both HH and VB (equally making the assumption) would be at risk for being closed and any proceeds dispersed. I don't believe the negative publicity would be a major deterrent though I'm sure it'd get some discussion. That's my opinion.

 

[Mississippian]

You have more faith in timeshares than I do. To be clear, I've previously stated clearly and specifically that I don't expect either issue to be very likely. However, I believe strongly that HH and VB (more VB though) are are at a higher risk of major damage from a hurricane than are any of the WDW resorts. I also believe that IF major damage to a significant portion happened, that both HH and VB (equally making the assumption) would be at risk for being closed and any proceeds dispersed. I don't believe the negative publicity would be a major deterrent though I'm sure it'd get some discussion. That's my opinion.

What I wonder is what would be the effect of a total loss. Is it possible that VB owners would be laughing all the way to the bank?

 

[Dean]

What I wonder is what would be the effect of a total loss. Is it possible that VB owners would be laughing all the way to the bank?

I can't imagine that the proceeds (after other expenses) would be as much or more than what one could sell for at the time. Generally it's only a fraction of the "value" in such situations and often little or no $$$ at all. The other aspect is that IF major damage occurs but the resort (or a portion) has not been slated for elimination, those owners involved can use their points at other DVC resorts. At the point a resort or section is declared permanently closed, those members cease to be a member of the DVC, at least for any points so affected.

 

[Mississippian]

Just for what it's worth, I'm thinking about buying points at VB.

We sold our 200 BWV points a few years ago as cash was tight. Business wise it was a good move as we needed the money and got a good price for the points. Now that points are cheaper I'm thinking about buying back in.

The only options I would consider:
BWV, with a target price of 65 per point. I love the resort and think it offers the best combination of value and location of any of the resorts.

OKW, with a target price of 55 per point. I really don't like the resort all that much, but love the value of all the units, especially the grand villas.

VB, with a target price of 35 per point. I like this resort and would use some of these points to stay at VB. While the annual dues are slightly higher, when figuring in an interest factor it will take almost 20 years for the cost of VB to overtake the cost of the other resorts, and I'll have the benefit of putting out less money now.

So my though is to offer $35 on some VB points. If I don't buy any I'll shop for BWV points. I'll probably leave OKW alone. I'm fairly confident I can get rooms at WDW at seven months, and as more and more quality-location DVC resorts are coming online, the SSR problem is going to be less severe. But if I should be locked out or have only SSR as a booking option at seven months, I'm happy to go to VB or take a cruise or do something else.

 

[Dean]

Just for what it's worth, I'm thinking about buying points at VB.

We sold our 200 BWV points a few years ago as cash was tight. Business wise it was a good move as we needed the money and got a good price for the points. Now that points are cheaper I'm thinking about buying back in.

The only options I would consider:
BWV, with a target price of 65 per point. I love the resort and think it offers the best combination of value and location of any of the resorts.

OKW, with a target price of 55 per point. I really don't like the resort all that much, but love the value of all the units, especially the grand villas.

VB, with a target price of 35 per point. I like this resort and would use some of these points to stay at VB. While the annual dues are slightly higher, when figuring in an interest factor it will take almost 20 years for the cost of VB to overtake the cost of the other resorts, and I'll have the benefit of putting out less money now.

So my though is to offer $35 on some VB points. If I don't buy any I'll shop for BWV points. I'll probably leave OKW alone. I'm fairly confident I can get rooms at WDW at seven months, and as more and more quality-location DVC resorts are coming online, the SSR problem is going to be less severe. But if I should be locked out or have only SSR as a booking option at seven months, I'm happy to go to VB or take a cruise or do something else.

Sounds reasonable as set up. My set points would be a little lower but it somewhat depends on how many points you're looking at. IF you can find a VB subsidized contract, you might be better off in the long run even if you have to pay a little more. If price is a major goal, you might keep an eye on ebay as well. I have a friend that bought BWV at $38 a point I think it was.

 

[cz4ever]

Sounds reasonable as set up. My set points would be a little lower but it somewhat depends on how many points you're looking at. IF you can find a VB subsidized contract, you might be better off in the long run even if you have to pay a little more. If price is a major goal, you might keep an eye on ebay as well. I have a friend that bought BWV at $38 a point I think it was.

Wow, I wonder how the heck that survived ROFR, even if completely stripped.

 

[minnime]

I think you have to take some of these stories ($38 BW) with a grain of salt.

 

[Dean]

Wow, I wonder how the heck that survived ROFR, even if completely stripped.

I'm not sure but suspect it was a foreclosure. We never discussed the specifics beyond price and size, I'm thinking it's either 160 or 180 points.

I think you have to take some of these stories ($38 BW) with a grain of salt.

Not really unless you don't believe it happened. What you do have to realize is that those deals don't happen every day. You have to be patient and put effort into finding those type of deals. Not everyone has the patience of time to look for those deals.

 

[ELMC]

I think you have to take some of these stories ($38 BW) with a grain of salt.

I think it's fair to say that these deals are the exception rather than the rule. But I don't think it's particularly fair to question the credibility of someone who has over 26,000 (meaningful and informative) posts spanning the last decade plus.

 

[Dean]

I think it's fair to say that these deals are the exception rather than the rule. But I don't think it's particularly fair to question the credibility of someone who has over 26,000 (meaningful and informative) posts spanning the last decade plus.

Thanks for the support, I'm sure it wasn't intended as it came across but rather as not the usual deal and that is true.