We are on the wait list for BWV for October for standard studio. Checked Disney web site and could book for cash ressie. If it's available for cash why is it not available for points?
Reservations made using DVC points come only from the Member inventory - the villas owned and controlled by DVC members.
When members use their points for non-DVC options (Disney Cruise, other WDW resorts, etc.) those points are used to secure villas available for cash reservations and are no longer available for other reservations using DVC points. DVD also maintains 2-4% at each resort and that inventory can also be rented thru DRC.
At resorts not already sold out (like BLT, AKV, SSR and Aulani) the rooms not yet declared into member inventory for sales purposes are still owned by the developer and may be rented thru DRC for cash.
Villas you can see available on the Disney reservation site are not available to DVC members for reservations using points ... and villas in the Member inventory are not available for cash reservations on the Disney site (although they might be available to members for cash reservations thru MS).