Hi & welcome to the DISboards.
DVC Owners can book at most exactly 11 months in advance to-the-day, at their Home resort.
For example, If I own at Boardwalk, today I could book a vacation from today 02/24/2006 until 01/24/2007 (check-out date), no further along, at the Boardwalk.
Now, DVC Owners can also book at their non-home resort up to seven months in advance.
Using the above example, If I wanted to book Beachclub with my Boardwalk points, I could book a vacation from 02/24/2006 up to 09/24/2006, again with 09/24/2006 being the check-out date.
This diferrence becomes critical for high demand times (Easter, All of December, Spring Break, President's week, NJ week, etc.) and becomes even more important for high demand locations: BCV, BWV and VWL in that order. The toughest of all ressies is the elusive Boardwalk STANDARD view, IMHO!
Hope this helps.
-Tony