Down to the nitty gritty!

[hunnypotmama]

Ok, I've been convinced that I need to "buy where I want to stay." I'm even willing to be more of a "planner" to make this DVC work for my family. Now, I've compared DVC prices for BCV-with the $5 /point credit, I'd be looking at $70 per point. And the resales for OKW and BWV I've seen are $66 and $68 per point respectively. With the $400 in closing costs I would pay for a resale, the total cost is $10,500 for DVC; $10,300 for OKW and $10,600 for BWV. Am I looking at this right? I thought I'd save some serious bucks by buying a resale. The total prices are very close to what I'd pay DVC for BCV! And to be honest, I have not visited any of these places personally, although OKW seems more my style from what I've read so far.

Thanks for all your help!

hunnypotmama

 

[Terry S]

My advice would be to go visit each on personally, it is really hard to tell from the pictures and you really do want to own whereever it is that you would stay most often.

 

[EROS]

Hunny, I'm a veteran of the resale markets. The prices which you're citing are simply platforms for NEGOTIATION........much like real estate prices for homes or advertised prices for cars. Resale makes NO sense unless you can save SUBSTANTIALLY over a direct purchase via DVC. Each deal is structured differently, depending upon banked points,etc.

I would agree that you should consider Resale only if you can negotiate a sale price in the low 60s at a MINIMUM.

Good Luck

 

[hunnypotmama]

Thank you for your very prompt replies. Any thoughts on reputable resale companies? I've spoken with atimeshare people, as well as Vacations Only people. Do you prefer one over the other, or any other company I don't know about yet? Also, how likely is it that Disney would exercise their right of first refusal? I don't like thinking about finding a really good deal, then it falling thru b/c DVC doesn't ok it. Also, is paying closing costs negotiable? Or is that automatically the buyer's duty?

hunnypotmama

Disneyland Feb 02
WDW-ASMu Oct 01
WDW-ASMu July 01
WDW offsite July 99
WDW offsite 74

 

[Laurabearz]

Hunny... we are just finishing up with a resale purchase from Jaki at atimeshare.com...... No complaints here. She was very personable and was able to run numbers well.

We bought at OKW for two reasons.... First we love it there. Very laid back, huge villas, great location. Second we got a great deal on a resale (with points banked etc) plus the dues are the lowest of all the DVC properties.

I took the DVC tour at BWV and boy that place has a totally different feel to OKW.

Maybe a trip down to WDW is in order to scout things out Of course we are adding onto BCV site unseen! LOL

 

[EROS]

The two most widely cited resale brokers on this board are The Timeshare Store (a DIS sponsor) and Atimeshare.com. Both come highly recommended. There are other resale brokers, but IMHO they lack the breadth of experience and volume that these two have demonstrated.

EVERYTHING is negotiable, but "traditionally" the buyer assumes closing costs. Don't forget that the seller is paying more than $1,000 in commissions to the broker. The Disney "right of first refusal" price is touted by some to be $58. Who Knows??? I'd ask the brokers for their own assessment.

Don't forget that each "deal" has to be assessed individually. $62/point WITH 150 banked points is very different than $62/pt with NO banked points or points already borrowed.

Feel free to post any deals which you may pursue. You'll get a host of views here.

 

[wayno]

Feel free to post any deals which you may pursue. You'll get a host of views here

I just closed on a resale deal for 400 points at BWV. The contract was for an October Use Year, and included 348 points banked from 2000, and all 400 from 2001, and all 400 coming in October for 2002. The asking price for the contract was $60/pt. I just took it without any additional bargaining. Do you think I could have gotten more from it? I thought it was a really good deal, and didn't want to risk losing it by submitting a bid to them for 58 and someone else grabbing it at $60.

Any opinions? I'm hoping to make my first reservation this week for my first official stay this spring.

Thanks,
Wayne

 

[EROS]

WAYNE, I feel that you got an OUTSTANDING DEAL. You paid around $61/point,including closing costs, and thus saved $3600 compared to the discounted $70/pt available at BCV. In addition, you picked up a bushel of banked points....................your seller was definitely MOTIVATED .

CONGRATULATIONS!!!!!!!!!!!!!!!!

 

[Dumbo]

Wayne,

I think you got a great deal. Just a reminder that you can bank your 400 Oct. 2001 points as long as you do it before March 31, 2002.


Dumbo

 

[robinb]

Wayne,

I also think you got a great deal. I would have jumped at that resale! Did you buy it from one of the resale companies? Feel free to PM me. I'm looking for as good as a deal!

Eros, I think he got an even better deal than you think . I calculated the effective cost per point to be closer to $42.55 per point! Wayne paid $60 pp, had 748 points "banked" from 2000 & 2001 and all the points from 2002. That's a value of $7480 in "banked" points. Subtract that from the selling price of $24,000 you get $16,500 and then add the $500 closing back you get a price of $17,000 for 400 points. score!

FWIW, I think that most folks who have 400 point contracts are usually motivated sellers ...

 

[DisneyKidds]

Hunny - we just closed on 2 resales. One thru atimeshare.com (Jaki is great!) and one through Lee Reid (I think the web site is reid4florida.com). While Lee is a bit more hands off and doesn't keep you in the loop like Jaki, his site is worth checking if atimeshare doesn't have anything that suits your needs. Bottom line, both resales closed in the same amount of time, but Jaki provides better customer service/interaction. For our BWV contract we paid in the low, low 60's with banked points from 2000. Definitely shop around and negotiate. I have followed the resales since we bought and it seems there are not too many right now with banked points - but you definitely shouldn't pay upper 60's.

wayno - when we were looking I saw that resale you got (I'm pretty sure it was that one) - all those banked 2000 points were very tempting. We decided we had to have some points at VWL so we kept looking. I did see they lowered the price from when I first saw it. Great deal. Enjoy all those points.

 

[EROS]

Nice analysis, ROBIN. I would agree with you EXCEPT for your treatment of the 400 points from 2001. If Wayne had chosen to purchase through Disney, he would have also received 400 points for his 2001 Use Year. Thus, the real additional benefit of Wayne's deal are the 348 points from 2000.

 

[wayno]

It always helps me to get a confirmation when you've made a decision. Especially for that kind of money, but it really seemed like a good deal to me as well.

We bought it from the timeshare store listings, as advertised here on DIS around the end of January.

Thanks,
Wayne

 

[robinb]

Eros,

I don't think that's true about the 2001 points right now. It appears that VWL is sold out and BCV is only offering pre-sales. If Wayne wanted to own at WDW and wanted to buy from Disney then he would not receive any 2001 points. Of course, buying at VB or HH is a different matter.

 

[DisneyKidds]

What represents a good deal on a resale now can be very different than it was a month and a half ago. If VWL was not sold out (and I don't think it was) when wayno bought I would agree with EROS's analysis. If VWL was sold out it made the deal even more attractive compared to a direct DVC purchase, as per robinb's analysis. Wayno got a great deal either way, it just looks even better if BCV was the only DVC option when he bought. Right now, a resale in the mid $60's with 2001 points would look pretty attractive next to BCV. A month or so ago that would have been a average deal, with a great deal being in the low $60's with points banked from 2000. Timing is everything.

As for direct DVC purchases, hopefully there aren't too many people kicking themselves for not getting VWL before it sold out. Once it did, your best deal thru DVC went up $5 a point. Instead of $75 less $10 MB for the 2001 points you would have gotten equaling an equivalent DVC purchase price of $65 with all 2002 points available, now you get all the 2002 points but you pay $70 ($75 less $5 incentive). Of course you get an earlier use year which has some value - but from a cash stanpoint the price went up. Some may find the free nights make their effective BCV purchase price less than $70 - good for you.

 

[BCV23]

I calculate that the effective cost of our BCV purchase at $60.95/point. We purchased 210 points at $75 taking the complimentary stay. For us, that will be seven nights at the Poly this March at a savings of $2,950. This is a trip that we would have taken in any case. We booked it months ago,and bought airfare,too. I can hardly wait to check out the BCV models. My DH thinks I'm funny, but is glad I did the research...thanks to all of you!

 

[DisneyKidds]

BCV23 - That's great . If it was a trip you would have taken anyway and paid cash for it is a true savings and effective reduction to your BCV cost. Of course in looking at these types of things there are two views. One is to look at the value of the nights you got at rack rate (2,950/7=$421 a night). The second would be to look at what you would have actually paid cash for those nights in March. If you had it booked at $421 a night your $2,950 savings and BCV effective cost of $60.95 are good numbers. If, on the other hand, you would have only paid $250 a night for that March trip your savings would be $1,750, with a BCV effective costs of $66.67. Is WDW actually getting $400+ for a Poly room in March? Rates like that make DVC the best deal around.