I would like to see the numbers to back up this assertion.
Check out the OCC site. It's interesting to watch the number of
DVC contracts reacquired through foreclosure fluctuate from month-to-month but it pretty much always exceeds the number of ROFR'ed contracts at the newer resorts. For example, in the month of April, Disney obtained 2 AKV properties through ROFR but 23 through foreclosure. At BLT, 10 via ROFR, 15 via foreclosure. At SSR, 18 via ROFR, 21 via foreclosure. Recall that ROFR activity in April was the highest it's been in a while. In previously months, the ratio is even more lopsided.
Conversely, foreclosures at the 4 "classic" DVCs are rare events, perhaps 1 or 2 in a typical month.
This makes sense to me. Timeshare purchasers tend to be impulse buyers. In the case of Disney, they are at WDW having a great vacation, stopped by one of the many DVC kiosks, and made a decision to purchase while on that vacation. (Always exceptions of course; I am generalizing but am constantly surprised at the number of folks I overhear at WDW buying into DVC without having done a stitch of research.) A lot finance. Sorry to those of you who finance but if you bought directly from Disney and financed your purchase, you haven't made a particularly smart financial decision.
During the last few years, Disney has sold a disproportionate number of points at the 3 newer resorts. Again, this is common sense since this is what they are actively selling.
Now it's 2-to-4 year later and impulse buyers are realizing they don't vacation at WDW every year like they thought they would. Those who put 10% or 20% down have discovered their loans are underwater. Might as well let Disney take the points back or, as many of the deeds show, "warranty deed-in-lieu of foreclosure".
The same happened at the classic resorts but those impulse buyers are long gone now. Most purchasing at the classic resorts today are doing so either via resale or because they knew enough to ask Disney for an older resort. Either way, they know more than most impulse buyers (again, generalizing of course). More often than not, they want, for example, the Villas at the Wilderness Lodge because they've stayed there, know about it (even though Disney is not actively marketing it), and tend to be regular WDW vacationers. Again, generalizing but guests buying at classic resorts probably know more than most impulse buyers at new resorts and probably have an established pattern of vacationing at WDW. They are less likely to be foreclosed on because they really do intend to vacation at WDW every year.
