Ft. Wilderness Cabins becoming DVC?

[MICKIMINI]

If a land-lease is involved, manufactured homes are considered personal property and not real property/real estate. You can’t get a typical mortgage. Nor can a real estate agent sell them.

Respectfully, perhaps you are just referring to FL, but In NH a real estate agent can sell a manufactured home on a leased lot.

 

[Sandisw]

I do love the irony that this board thought DVC was going all-in for resale restrictions for Poly2, but now we're more cautioned on the trust. I get why, it's just funny. Will give us months of something new to speculate on.

For me, the only reason I am even cautious is because of the statement made at the meeting,

Of course, I can’t get it confirmed what was said so I do think they are up to something. And , I think the trust is it.

The POS for PVB seems to allow them to add it to the association but set up a different way to sell..meaning via a trust and with restrictions.

However, if they do not add the units to the trust and sell as deeded…then it tells us they aren’t ready to fully move to a trust,just yet.

 

[Jlo85]

For me, the only reason I am even cautious is because of the statement made at the meeting,

Just to be clear, Poly2 could still be the same association BUT sold direct via the Trust WITH Resale Restrictions on Trust points, correct? That's where I think this may be going... which is an interesting turn of events.

 

[Cfabar1]

The POS for PVB seems to allow them to add it to the association but set up a different way to sell..meaning via a trust and with restrictions.

What would be the advantage to doing this?

 

[tidefan]

What would be the advantage to doing this?

Easy. Trust purchasers would get not only 11 month access to the tower, but also to the longhouses.

 

[BeachClub2014]

What would be the advantage to doing this?

Makes the Trust easier to sell if you get an 11-month reservation priority at multiple resorts, which I get, is still a hypothetical.

 

[BeachClub2014]

Makes the Trust easier to sell if you get an 11-month reservation priority at multiple resorts, which I get, is still a hypothetical.

I would also add that it allows DVD to slap restrictions on that shiny new tower they're building. It sure seems like they are committed to resale restrictions given they slapped them on VDH and now CFW. It sure looks like they are here to stay.

 

[Cfabar1]

Easy. Trust purchasers would get not only 11 month access to the tower, but also to the longhouses.

yes I get that. But OG Poly contract holders would still get access to the new tower as well.

Another advantage could be it allows them to reallocate the bungalows.

If I were a poly owner I’d have no interest in buying a product that lumped me in with the cabins at fort wilderness though. I would be buying to purchase priority at one of disneys most iconic properties, not to sleep in a trailer. I’d imagine many buyers would go resale at that point.

 

[maui22]

Easy. Trust purchasers would get not only 11 month access to the tower, but also to the longhouses.

Kind of funny. The trust would have access to CFW (at or near the cheapest 1BR option) and the longhouses (at or near the highest points per night).

 

[Cfabar1]

I would also add that it allows DVD to slap restrictions on that shiny new tower they're building. It sure seems like they are committed to resale restrictions given they slapped them on VDH and now CFW. It sure looks like they are here to stay.

Yes they could put resale restrictions on those points possibly, but the resale Poly contracts from the initial listing would be grandfathered in if they’re in the same association I would imagine.

 

[maui22]

yes I get that. But OG Poly contract holders would still get access to the new tower as well.

Another advantage could be it allows them to reallocate the bungalows.

If I were a poly owner I’d have no interest in buying a product that lumped me in with the cabins at fort wilderness though. I would be buying to purchase priority at one of disneys most iconic properties, not to sleep in a trailer. I’d imagine many buyers would go resale at that point.

Those buying trust may opt to buy the cheapest trust option. If they are selling trust points tied to a resort, they may also have to offer better incentives for CFW.

Edit:
If I wanted trust points to stay at Polynesian, I would certainly look at price with incentives and dues. If someone can save $5k and pay less in dues every year, but still book Polynesian at 11 months, why not buy CFW trust?

 

[Cfabar1]

Those buying trust may opt to buy the cheapest trust option. If they are selling trust points tied to a resort, they may also have to offer better incentives for CFW.

Edit:
If I wanted trust points to stay at Polynesian, I would certainly look at price with incentives and dues. If someone can save $5k and pay less in dues every year, but still book Polynesian at 11 months, why not buy CFW trust?

A couple of things about this...

We are seeing even in the deeded system, people are complaining in another thread about how it is tough to get in at peak times to their resorts - even at points heavy resorts like VGF (which is the resort most similar to Poly in my view).

So, allowing Poly and CFW owners to now come in at 11 months is a negative, and may actually drive the price of BLT and VGF resale up, since you'll be competing with a smaller pool at 11 months (only those at your home resort).

Also, I think it is likely that the CFW dues are going to be quite high, especially over the long term. You're going to be paying to totally replace that trailer at least once throughout your contract, plus the units are spread out and exposed to the elements in a more significant way than an enclosed tower hotel building.

Those with the most to lose would be original Polynesian owners, who I see no upside with any of these changes, with the exception that, if they put the new units in the new association, they can book the tower.

But, that may prove moot because these cabins people will gobble up the rooms.

 

[Genie+]

Those buying trust may opt to buy the cheapest trust option. If they are selling trust points tied to a resort, they may also have to offer better incentives for CFW.

Edit:
If I wanted trust points to stay at Polynesian, I would certainly look at price with incentives and dues. If someone can save $5k and pay less in dues every year, but still book Polynesian at 11 months, why not buy CFW trust?

Resale price down the road lol. But most buyers aren’t thinking too hard on that, especially in this case where we don’t even have a price history like legacy DVC resale.

 

[PrincessKL]

Kind of funny. The trust would have access to CFW (at or near the cheapest 1BR option) and the longhouses (at or near the highest points per night).

Wait, does this mean people buying CFW will have access to both Poly Tower and Poly Longhouses and Bungalows at 11-month if Poly Tower is in the trust?

I was thinking maybe people buying CFW will have access to everything included in the trust at 11-month, which would possibly be just the Poly Tower. But people buying Poly Tower in the trust will have access to both CFW and Poly Longhouses because of the same association? And then people bought Poly direct or resale before 2019 will also have access to Poly Tower at 11-month because of the same association but people bought resale Poly in and after 2019 will not have access to Poly Tower?

Oh mine, this is so complicated.

And one more thing, Poly Tower in the same association as Original Poly means that it only has 40 some years left, right? That’s another benefit to DVD.

 

[KimMcGowan]

Easy. Trust purchasers would get not only 11 month access to the tower, but also to the longhouses.

As an original Poly 1 owner (but resale after 1/2019) I was wondering about this exactly. How would this affect poly 1 owners? Would the reciprocal be true and Poly 1 have tower access at 11 months?

ETA I see some have speculated that the answer would be yes.

 

[BeachClub2014]

Wait, does this mean people buying CFW will have access to both Poly Tower and Poly Longhouses and Bungalows at 11-month if Poly Tower is in the trust?

I was thinking maybe people buying CFW will have access to everything included in the trust at 11-month, which would possibly be just the Poly Tower. But people buying Poly Tower in the trust will have access to both CFW and Poly Longhouses because of the same association? And then people bought Poly direct or resale before 2019 will also have access to Poly Tower at 11-month because of the same association but people bought resale Poly in and after 2019 will not have access to Poly Tower?

Oh mine, this is so complicated.

And one more thing, Poly Tower in the same association as Original Poly means that it only has 40 some years left, right? That’s another benefit to DVD.

Simple answer: nobody really knows for certain. It's a great discussion topic, but until we see anything more from DVC, it's all conjecture. What we do know is that CFW is being sold from the new Trust, and seemingly has the same reservation conditions, along with resale restrictions ala RIV and VDH, as every other resort.

 

[tidefan]

As an original Poly 1 owner (but resale after 1/2019) I was wondering about this exactly. How would this affect poly 1 owners? Would the reciprocal be true and Poly 1 have tower access at 11 months?

ETA I see some have speculated that the answer would be yes.

If it's the same association, then the answer is probably yes.

I agree with a prior poster that all this is starting to get a bit complicated. Two of the nicest aspects about the DVC program when we joined in 2007 that really differentiated it for us were 1) the fact that it somewhat held it's value, and 2) the simplicity of it all.

They are working to get rid of both of these advantages that the program had, and IMHO, made it so successful.

However, as @Brian Noble so accurately states, even the most borderline TS systems still manage to sell direct points, so they may not care...

 

[tom1944]

At the end they will tell me what resorts I can use my post 2019 resale points and I will deal with it.

 

[Cfabar1]

At the end they will tell me what resorts I can use my post 2019 resale points and I will deal with it.

The days of sitting at dinner or the pool w older members telling you it was the best investment of their lives are quickly coming to an end.

Disney is really working to erode the value of DVC. Likely to make up for all the money the rest of the company is losing.

 

[Frugal Fairy Tales]

Those buying trust may opt to buy the cheapest trust option. If they are selling trust points tied to a resort, they may also have to offer better incentives for CFW.

Edit:
If I wanted trust points to stay at Polynesian, I would certainly look at price with incentives and dues. If someone can save $5k and pay less in dues every year, but still book Polynesian at 11 months, why not buy CFW trust?

Because the CFW resale value would likely be lower?