I'm Sorry...Let's try this again

[David]

I'll try to be clearer this time.
There are only 23 points available from 3/01 to 3/02. 44 points have been used, 163 were banked into '02. So I can wait until 3/02 and have 393 points or borrow from '02 and have 253 for this year. So I come up with the fact that I am really buying 186 points since 44 have been used. With $475 closing that comes to $77.36 per point if I'm looking at this the right way. Am I?

 

[KathyR]

Here is what I come up with


Price for 230 pts at $60.50=
13,915.00

closing cost=
$475.00

total=
$14,390.00

total divided by 230 (number of points)=
$62.57 per point (rounded up to the nearest cent)


If the borrowing and banking is as you stated, you are correct about that

KathyR

 

[KathyR]

If you figure point cost of the points already used up at $10/pt your purchase price goes like this:

230 points at $60.50=
$13,915.00

add $10/point for each point lost this year (44)=
$440.00

add closing costs=
$475.00

total price=
$14,830.00

total price divided by 230=
$64.48/pt rounded to the nearest cent

KathyR

 

[DebbieB]

I agree with Kathy's figures - you would look at the closing costs vs the actual points in the contract, not the # for this year.

I don't understand why they banked the points so early for a March use year, they had until August 31 to do that.

Did you discuss dues? How much of the 2001 dues do they want you to pay?

 

[Richyams]

Yes, those are the numbers.

You were using this years current points to come up with the $77, I am not sure why, but I think the way to look at it is by the contract.

I think this will show the problem with that way of looking at it.....

Mickey bought a 200 point contract, a distressed contract. All the current use year has been used, and there were a stray 10 point left banked from last year.

Mickey paid $55 per point, Mickey was chastized by his wife for spending so much. Minnie said "You bought this contract with only ten point available, you paid $11,000, you paid $1,100 per point, you could have saved money and bought direct from Disney for MUCH less you stupid mouse!!"

"From each according to his ability, to each according to his needs", Karl Marx,This has failed every time it has been tried, why do we still have liberals?

 

[drusba]

Trust KathyR's analysis, she hit it on the nose; value is determined as applied to total annual allotment of points in the contract then minus a $10 rental value for points are used up in the current year. ó

 

[David]

Bottom line...Is this a good deal? I'm not losing with all these banked points am I. Should I keep shopping?

 

[Richyams]

Even adding for the used points, its way less then buying from Disney.

Besides, OKW is sold out, you get the additional benefit of owning at the finest, some would say only real, DVC resort.

"From each according to his ability, to each according to his needs", Karl Marx,This has failed every time it has been tried, why do we still have liberals?

 

[kem330]

You might want to take the $440 off the purchase price. Another consideration- if you bought with Disney you would also have the points from year 2000 (with a different use month)We paid $64.15/point for BW with all 2000 and 2001 points and closing included.

 

[David]

Kem, what do you mean when you say if I bought from Disney I would have all the points from 2000?

 

[KathyR]

I think it is a fine deal. You are really only loosing 44 points this year. The rest are still available through borrowing. Of course that means, you will need to take a trip this use year to get use of the 23 points that are still available unless they are 2001 points in which case you could bank them and have 2 years worth of points next year less the 44 used already. Then, you will also need to take a trip next year to use the points that were banked or they will expire. I would go for it if you can use all of the expiring (banked/borrowed) points during the next 2 use years

KathyR

 

[DebbieB]

If you bought direct from Disney, you could get October 2000 points, but you would be paying $72/point (but no closing costs) and the only choice right now at WDW is Wilderness Lodge Villas. If you really like OKW, I would go for the resale since OKW has the lowest dues, you will be saving money there. OKW & Boardwalk are only available through resales.

 

[Dean]

If the location and number of points fit your needs, I'd likely take it but not pay any maint fees. If you pay for the 2001 fees, you'll be paying mostly for points you're not getting.

Compare to DVC buying 230 points at $72 pp for a March use year. You would then get 230 "2000" points along with all of the 2001 points and pay only 9 months of the maint fees. If you assume the points are worth $10 each that gives you these figures. Initial Cost about $16560 with no closing. If you deduct for the extra points, that figure falls to about $13820 plus yearly fees. You're resale will cost you about $14390 with possibly more or less yearly fees depending on what you can negotiate.

Dean

 

[drusba]

Rich says you are getting the finest resort. As a BWV owner, I, of course, would beg to differ . Nevertheless, to me the price appears fair and is less than Disney. If you bought from Disney, you would get "2000" year points because it is usually selling a use year that begins several months before the date of sale. For example, they are probably selling an October or December use year right now (there is no November use year) and thus first points you would get if you bought today would be those issued in one of those months in the year 2000 (thus, the year "2000" points). I do not know whether you are providing us the asking price or the price that you may offer. If it is asking price you might be able to go lower, although right now we have a seller's market. I still have serious question about the true status of the points, as I just find it hard to believe someone has already banked points that were first issued March 1,2001--did the seller just do the banking in the last week or so? The reason for my doubt is that you have no reason to bank until you get close to a banking deadline or sooner only if you are makiing a ressie for dates during that next use year, and with the 11 month window the first time you could do that for the use year that begins March 2002 is in April 2001.µ

 

[baileybrad]

especially if you want OKW as your home resort. But don't let someone who has not stayed at all of the resorts influence your decision. It appears you have a good grasp on what you would be receiving in this deal. Good Luck.

 

[Bennet]

David&Danielle Welcomed Guest From: Mercersburg
Asked:
"Bottom line...Is this a good deal? I'm not losing with all these banked points am I. Should I keep shopping?"

Yes it is a good deal.

To paraphrase Steve McGarret, 'Book it Danielle"

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Play the Celebrity Shoe Game at BadShoe.com
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[AnnK]

I would keep looking until I found BWV points, BWV rules!

 

[Caskbill]

I too thought it was odd that March 2001 points would be banked already. I found the listing and that's what it actually says. I also noticed it was marked as Sale Pending so that may be you.

The banked 163 points is odd this early but it was clearly stated in the timeshare ad. The 44 points were either borrowed last year and used then, or used sometime between 3/1 and now. In either case they're gone. The source of the 23 points is unclear. If they were 2001 points that were borrowed in 2000 then I think they would have expired. (Does anyone know what happens to borrowed points if they aren't used? I can't remember for sure). If they are 2001 points then they can still be banked and would not HAVE to be used by 3/1/02.

The only other thing is to watch the maintenance fees. You should not pay all the 2001 fees as 44 points are gone. It would be fair to pay on the banked 163 points as you would get their use. I would negotiate on the maintenance on the 23 points unless they are truly 2001 year points that can still be banked.


The original ad stated 65.50/point whereas you stated 60.50/point in your original post. That's quite a difference so either you got a much better deal than originally posted, or there was a typo in your post. Hopefully you got the 60.50 which would be very good as that works out to a true cost of $63-$64/point. If you actually pay the 65.50 price then I would think at best the deal is only OK as it's getting close to what Disney charges without getting all the 2001 year points. It would be a little difficult to compare to magical beginnings as the use years would be so far apart.

Although, even at close to Disney prices, it would get you into OKW which has much lower maintenance fees than VWL which at current rates will save you a couple of hundred dollars a year, which is another plus.

Caskbill

 

[kem330]

Sorry to take long to get back to you- I see the 2000 point question has been answered. I only brought it up as a negotiating tool for you- The deal is not bad, it's just that you always have to compare to what Disney is offering. With a Disney contract you get previous year and current year points which are essentially double points with only dues payable for current year. You are not getting the same amount of points to start, so I would place a value on those points missing from your contract, either by offering less /point, not paying maintenance for 2001, or not paying closing costs- whatever you feel is a fair deal. Of course there are the factors such as availability of OKW, etc. If you're not sure wait, another deal will come along. One more point- Did you say you were buying from a friend? most commissions cost aroung $1500 or so, so in your case, if you are buying direct from a friend, that commission is worth $6.50/point. So if the average resale is going for say $65/pt then without a broker you should be looking at $58-$60/point. JMO Good luck!

Okay- this is just how I personnally would figure it: A new contract with Disney: 72 x 230= $16,560
You are missing 230 points that disney would have given you from year 2000 plus the 44 points used already. that's 274 points short of what you would get with new sale. If you value those points at $10/point, then your contract is worth $16,560 - 2740 = $13,820.00 or~ $60/point including closing. I would pay the 2001 dues since you would have to with Disney anyway.Please remember this is only my opinion, others may figure things differently and it depends how badly you want to have OKW

[This message was edited by kem330 on 03-26-01 at 01:32 AM.]

[This message was edited by kem330 on 03-26-01 at 01:44 AM.]

 

[rsinj]

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