How much of SSR is left for sale??

[Carrieberry]

Hi all! Thinking of buying into DVC sometimes in the next year or in early 2007 when we refinance our house. How much of SSR is still waiting to be built? Do they have any plans for where they will build the next DVC resort or how far out it is? Any rumors? I know SSR is huge, but I am not sure if it is done, still being built or what. Thanks!

 

[cobbler]

I hear they have just recently finished phase 2 and are going to start construction or just (and I mean just) started phase 3. There will only be 3 phases.

Not sure how big phase 3 is and how much they have sold already but maybe someone else can.

But it gives you a rough idea that there still is quite a bit of bldg left to do.

 

[CarolMN]

If you are worried that SSR will be sold out before you are ready to buy, don't be. I very much doubt that SSR will be sold out before the end of 2007. If it is sold out, there will surely be another DVC Resort for sale (maybe even the Contemporary) if you want / need Disney financing. If you don't want Disney financing, there are and will continue to be many, many opportunites to buy any of the DVC resorts via resale.

Best wishes -

 

[vascubaguy]

I am not completely certain of the financial implications, but I was wondering if you were to purchase now and finance thru DVC, and then payoff the DVC loan after a year when you refinance. The new incentive is pretty good, and I'm sure it won't be around long. I'm also pretty certain there will be several price increases between now and 2007, and if you take any vacations to WDW during that time, you'd have that additional money spent on accommodations.

Just a thought.

 

[Carrieberry]

We are considering that, as the new deal is alomst too good to pass up. I need to call the agent we have spoke with in the past and find out what we are looking at for down payment and monthly charges. Which financing plan do the majority of people opt for? Thanks!

 

[russct]

You now how rumors are, but I was just at SSR a week ago and a CM told me that Eagle Pines is next resort and that SSR is 80% sold out. We'll see!!!!

 

[rocketriter]

Many people take the 10-year DVC financing, then pay it off in a much shorter time. That gives you the option of making a small payment in a tight month (or if someone in the family is laid off or ill). And when you pay it off rapidly, the overall cost of interest is much reduced.

We did this. We even set up automatic withdrawals from a savings account at a rate much higher than our required payment. We always had the option of calling finance through MS and asking them to only draw the minimum payment in a particular month, but we never needed to exercise it.

 

[KLEONARD]

If you are worried that SSR will be sold out before you are ready to buy, don't be. I very much doubt that SSR will be sold out before the end of 2007. If it is sold out, there will surely be another DVC Resort for sale (maybe even the Contemporary) if you want / need Disney financing. If you don't want Disney financing, there are and will continue to be many, many opportunites to buy any of the DVC resorts via resale.

Best wishes -

CarolMN, I think SSR will be sold out before completion. When I bought into DVC in Feb (SSR), my guide said my use year would start in Aug. This was because sales were outpacing the construction. I believe this is still the case.
Disney has really ramped up the marketing and exposure of DVC. The current points promotion seems to be a success. The expanded number of kiosks and the expansion of DVC sales in California will assure a continuing stream of new members for Disney.
OT. Does anyone know if there is more land available for SSR to expand even further? Could they proceed with a new Phase IV instead of going ahead with Eagle Pines or Contemporary? Who knows, you might be able to request an OKW view at SSR in the future.

 

[cobbler]

Here is some math for you if you are interested.

Minimum buy in is 150 points. You must pay 10% out of pocket
150x98 = 14700
Your down payment must be 1470
Disneys portion of your down payment would be 2205 (the difference between 98 a point and 83.30 a point)
Leaving you to finance 11025
The interest rate is 9.75% if you have it deducted out of your account (10.75% otherwise) we will go with 9.75% and over 10 years

Based on that if you financed 11025 your monthly payments would be 144.17 + dues
You would pay about 1 to 1.5 months in dues at most and that would be 47.88 for one month or 71.82 for 1.5 months.

I figured next year dues will be 4.00 a point so your monthly payment on those would be 50 a month. Grand total montly payments 194.17.

ETA: If you managed to pay an extra 100 a month, it would be paid off in just under 5 years

 

[SJKLucas]

What and were on the property is Eagle Pines?

thank you

 

[tjkraz]

CarolMN, I think SSR will be sold out before completion. When I bought into DVC in Feb (SSR), my guide said my use year would start in Aug. This was because sales were outpacing the construction. I believe this is still the case.

Hard to know what to really believe, but that seems a little far-fetched to me. Why would DVC be offering the current 15% off incentive if sales were outpacing construction?

Actually, back in February that may have been true. Four buildings opened May - August 2004. Then they had a six month lull while the Phase Two buildings were being completed. During those six months, construction was considerably behind sales. But in March '05 they opened the first of EIGHT additional buildings scheduled for completion this year.

I think we're looking at a much different landscape today as compared to February.

 

[vascubaguy]

What and were on the property is Eagle Pines?

thank you

Go to
http://www.wdwinfo.com/resortmaps/propertymap.htm

and check out letter E just northeast of Epcot. It would be in that area around the Eagle Pines golf course. Eagle Pines was designed and announced as the next DVC resort before DVD acquired the land where SSR is currently located. SSR then took precedence and EP was put off.

If I'm not mistaken, EP was going to be built on the east side of the golf course (I'm sure someone will correct me if that's wrong).

 

[tjkraz]

Go to
http://www.wdwinfo.com/resortmaps/propertymap.htm

and check out letter E just northeast of Epcot. It would be in that area around the golf course. If I'm not mistaken, it was on the east side of the golf course (I'm sure someone will correct me if that's wrong).

That's correct--to the southeast of the course. Bonnet Creek Parkway is the road that runs north-south past Port Orleans Riverside and FQ, and ends as it intersects Vista Blvd. Bonnet Creek Pkwy would have been extended north of Vista Blvd and run right into Eagle Pines...or whatever they would end up calling the resort.

Disney actually started to clear the ground in this area in preparation for construction. But SSR became a higher priority and EP hasn't been heard from in 4+ years now. I'm sure it's still under consideration along with at least two other sites on WDW property. We will just have to sit tight and see which one gets the green light.

 

[dvc_john]

How much of SSR is still waiting to be built?

Phase I and II are complete (4 and 8 buildings respectively). When I was there a few weeks ago, only the 12th building was not open, but it looked like it could open almost any day. Phase III consists of 6 buildings: 2 near the Paddocks area, and 4 on the other side of the road. The 2 near the paddocks looked to be going up pretty fast, and I suspect will be open before the end of 2006. Construction has started on the other 4 buildings also - they appeared to be doing the foundation work when I was there.

 

[Dean]

You now how rumors are, but I was just at SSR a week ago and a CM told me that Eagle Pines is next resort and that SSR is 80% sold out. We'll see!!!!

The recent specials tell me sales are going slower than had been hoped. I'd be surprised if the resort was sold out far later than 2007.

 

[douggod]

Disney is very smart, by using this strategy, they keep the interest rate on the construction financing low, easier to borrow when the debt is already secured.

Growth is good for current members.....

Hard to know what to really believe, but that seems a little far-fetched to me. Why would DVC be offering the current 15% off incentive if sales were outpacing construction?

Actually, back in February that may have been true. Four buildings opened May - August 2004. Then they had a six month lull while the Phase Two buildings were being completed. During those six months, construction was considerably behind sales. But in March '05 they opened the first of EIGHT additional buildings scheduled for completion this year.

I think we're looking at a much different landscape today as compared to February.

 

[KLEONARD]

The recent specials tell me sales are going slower than had been hoped. I'd be surprised if the resort was sold out far later than 2007.

Dean, you and tjkraz make a point concerning CarolMN's response.
I guess the special promotion could be a sign of slow sales.
Are there any recent SSR members who could shed some light on this? Was your "deeded unit" complete when you purchased your points, or was it still under construction.
If construction is outpacing sales, it could explain why people are posting about easy early check-in and multiple unit choices.

 

[Ali and boyz]

Dean, you and tjkraz make a point concerning CarolMN's response.
I guess the special promotion could be a sign of slow sales.
Are there any recent SSR members who could shed some light on this? Was your "deeded unit" complete when you purchased your points, or was it still under construction.
If construction is outpacing sales, it could explain why people are posting about easy early check-in and multiple unit choices.

where abouts on the deed does it tell you if our unit is complete we purchased not that long ago

 

[Rozzie]

Dean, you and tjkraz make a point concerning CarolMN's response.
I guess the special promotion could be a sign of slow sales.
Are there any recent SSR members who could shed some light on this? Was your "deeded unit" complete when you purchased your points, or was it still under construction.
If construction is outpacing sales, it could explain why people are posting about easy early check-in and multiple unit choices.

During our add on last week, our guide said they were about 60% sold out. It seems like everyone has a different answer. The two new building projects are coming along on property. He said the next project, wisely said he doesn't know what it is, will house the new DVC office. Seems everytime I go down there and try to get the scoop I come back more confused!

 

[KLEONARD]

where abouts on the deed does it tell you if our unit is complete we purchased not that long ago

I am not sure on the paper work. Our guide, Aaron Brown, said even though we purchased in Feb our use year would start in Aug. This was because the unit associated with our deed was not complete. He explained that our deed was for some fraction of a specific unit. Because of the point system and the workings of DVC, the actual unit should never be an issue.
Ali, did your use year start the same month you purchased? This would indicate if your unit was complete when you purchased.