Is it just selective memory or are resale prices way up?

[Donald Duck888]

Just curious if I am the only one who thinks resale prices are way up this year. I was also wondering has it turned to more of a sellers market where you need to offer closer to asking?

 

[Deb & Bill]

Just curious if I am the only one who thinks resale prices are way up this year. I was also wondering has it turned to more of a sellers market where you need to offer closer to asking?

They are up this year, but have been higher in the past. There is a lot of competition for contracts.

 

[bobbiwoz]

Asking prices are higher across the board for all of the resorts that we have bought resale in the past. For instance we bought BLT earlier this year for $96, and I see prices listed at $100 now. We're finished adding on, resale, we have the older resorts we want to own. I am on the fence over VGF, just deciding if the cost is worth the convenience of owning there.

 

[sleepydog25]

We bought three years ago at $72 pp (VWL), and prices are in the mid- to high $80s currently.

 

[DrewJB]

Asking prices are higher across the board for all of the resorts that we have bought resale in the past. For instance we bought BLT earlier this year for $96, and I see prices listed at $100 now. We're finished adding on, resale, we have the older resorts we want to own. I am on the fence over VGF, just deciding if the cost is worth the convenience of owning there.

Though I would say - I don't know that many people are paying over $100 for BLT. I see several BLT properties listed at over $100, but very few of them are actually selling. Of those reporting on this board, since the start of June, 9 BLT sales have been shared and only two of those were at or over $100. I just closed a week ago for one at $90.

 

[DrewJB]

We bought three years ago at $72 pp (VWL), and prices are in the mid- to high $80s currently.

The only VWL contract sale shared with the board since the start of June was for $65 pp. Listed asking prices are not necessarily current selling prices.

 

[sleepydog25]

The only VWL contract sale shared with the board since the start of June was for $65 pp. Listed asking prices are not necessarily current selling prices.

The key word being "shared." True enough, however, that listing doesn't mean selling.

 

[michelleiada]

I think prices are WAY up. We bought BCV one year ago at $68 per point, and a loaded contract. I'm now seeing prices in the high $80s to $90s even. YIKES.
Glad we bought when we did. I'm looking to add on a smaller contract at AKV and I'm hoping to get a decent price.

 

[DannysMom]

Yes prices are up. Yes it is more of a seller's market.

I still wouldn't pay some of the outrageous asking prices for the stripped contracts out there.

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!

 

[julie <3wdw]

We just offered over $100 per point at BLT a couple of days ago however the contract was absolutely loaded with points and the annual dues were already paid for. We could have offered lower but this contract versus some of the stripped contracts out there it was a no brainer. Plus it was the perfect use year/points we were looking for and by the time we sell off some of the points we will be under the $95.

 

[csharpwv]

Prices are definitely higher than what they have been, however - I am still shocked at how low Animal Kingdom Villas is regularly sold.

When you look at the length of time that many of the new resorts have been in the market for direct sales, it really makes you wonder.
They sold SSR for at least 8 years, Animal Kingdom Villas has been for sale for at least 6, almost 7 years - yet, Bay Lake Tower sold out quickly... oh wait, scratch that. They kept telling us that it was going to sell out quickly - we received enough post cards, mailers, e-mails, etc etc that BLT would be sold out 'soon' - yet we had a referral buy at BLT in January... although they were actually almost sold out in January. But even at that, it was over 5 years of sales.

So with the VGF coming online, and the heavily rumored and "confirmed" by some DVC at the Poly, the rumored Fort Wilderness project - there are so many projects coming that the supply really is outpacing demand when you consider the number of resorts currently for sale, the number of resale contracts on the market, and the number of resorts that will be open for the next 5 years... it is really hard to tell where things are going to head.

But OP, yes, resale listing prices are way up - and compared to the number of resale contracts for sale in the depths of the recession, the competition in the market is higher.

So it is far more of a seller's market now than what it was even a year ago.

 

[SFlaDisneyfans]

Is there a link somewhere to the rumors about a Fort Wilderness DVC? I would love to read up on them Some of my fondest memories as a child were staying in Ft Wilderness back in the early 70's. I would so be buying in at a FW DVC location.

 

[DrewJB]

I agree that some resorts are definitely up in price, I just think comparing what any of us on this board paid vs. asking prices is not a good comparison. Those on this board probably all tend to pay slightly less than average, so comparisons to other sales to board members makes sense. Plus - that is some of the best concrete sales data we have.

Certainly the Epcot resorts are jumping in price. Supply is low due lack of any new development in many years and there are always new buyers that would like to have a home resort that is walking distance from Epcot. There has been a lot of development around Magic Kingdom - which is continuing, but without a DVC at, say, the Yacht Club coming in to let some steam off of the demand on on BCV and BWV - those resorts are likely to keep what I would consider to be inflated values. I'd like to own at one of them, but I can't imagine buying into a 2042 resort at anywhere near the price I can buy into one expiring 20 years later. If there is any bubble happening in DVC it would be at those resorts. If people continue to pay more and more for those contracts because of the allure of an Epcot resort as that 2042 date comes closer and closer - my guess would be that at some point there is going to be a crash in that price. A Yacht Club DVC would do a lot to really bring those prices down and feed the demand in that area.

 

[ELMC]

We bought three years ago at $72 pp (VWL), and prices are in the mid- to high $80s currently.

It's important to note that in the interim prices dropped as low as $50 pp at VWL, so the increase is that much more significant.

 

[michelleiada]

Yes prices are up. Yes it is more of a seller's market.

I still wouldn't pay some of the outrageous asking prices for the stripped contracts out there.

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!

I agree totally! I will just be patient and wait to add if I have to.

 

[ELMC]

I agree totally! I will just be patient and wait to add if I have to.

Analysts of the housing market are suggesting that we are in year one of a potential five year increase in prices. While I'm no expert myself, one should consider this fact and how closely DVC prices have tracked housing prices when deciding to wait to purchase. Although it's not my personal opinion, there is the possibility that resale prices will continue to trend upward in the next couple of years. If that's the case, then buying now (if buying makes sense for your family) might end up being a prudent move.

 

[msrlest8]

Where is a good place to start looking if interested in purchasing resale?

 

[DisneyDiana]

I just sold one of my VWL contracts for $87 per point.

 

[Msmithmd]

Where is a good place to start looking if interested in purchasing resale?

Google "DVC resale." There are several major brokers. One is a sponsor of this board. Go with whichever one has the contract that fits your needs, the market is tight enough right now that the listings are going to vary a lot between the listing brokers. If you find a contract that you like and aren't sure about the broker, check back here for input.

And look at the ROFR thread for an idea of the best deals that are getting through. The list price is "asking." Like any real estate transaction you can offer whatever you like. The seller has the option to accept, decline, or counter. Good luck!

 

[undchefreak]

I was going to post a similar question . I bought a 100 pt okw contract for $63 in Dec-Jan of this year and thought I overpaid. Now that size is listed for $80. I couldn't believe it. I like to troll the resale sites, so I think I'm going to stop doing that. I'll either end up selling mine or buying another contract that I didn't really need. (100 is pretty perfect for a 29 yo single)