Lot's of SSR resales!

[Connears]

There are 102 resales of SSR on Timeshare Store listing. I asked a while back if people thought the economy was the cause of the greater # of resale listed at SSR(closest 2nd is OKW at 31) because the timing of the sales of SSR and whether this influenced the number of resale at SSR or if there are other reasons: the location/resort itself, better enforcement of transferring and "renting" point privilages, etc that are impacting this. Clearly the mortgage crisis has gotten worse recently. I have been a member at OKW since 1994 and have not stayed at SSR (or AKV), so I really can't figure it out. I have read some posts about people not being able to book at another resort at 7 months and wonder if that may also be a factor...just wondering why there is such a large difference in the resales for this resort. Any comments?

Connears

 

[DisFlan]

I noticed this too. I know SSR is a big resort, but this seems a little more than usual. And some are for way under $80 a point. (It'll be interesting to see if these pass RoFR.) People sell for a variety of reasons, but it looks like some of these sales are just to get rid of it - not to buy AKV or BLT.

I don't know that this is necessarily a "bad economy" thing - at least not yet. We'd be seeing increased resales across the board if it were. But there sure ARE a lot of SSR resales. I'm pretty sure Disney will have to buy some of these points back due to the low prices, so there should be plenty of SSR points available for a quite awhile.

DisFlan

 

[CarolA]

I am getting ready to dump one on there and I am going to sell it cheap. (IT's not my problem if it pass ROFR! LOL!)

 

[mimmiepnp]

Why r u getting rid of SSR? Are there issues that I need to know about before I end in my signed contracts for SSR and if there are, are they related just to SSR or the whole concept of DVC. Now I don't know if I should sign there, go to AK or just cancel the whole thing. Help!!!!

 

[ACDSNY]

We're in the process of selling two small SSR contracts (FEB UY) due to switching to a different UY. The 100 point buy in at AKV convince me to do this now as I want a majority of our points to be in CA instead of FL. I was able to get an AUG UY and then our add-on for VGC will go on the AUY UY too.

When I originally purchased back in 2005 we still could bank some of our points until the end of Nov. Now with the new banking deadlines I would have to bank our points in Sept. We typically take our big trips in Oct/Nov so I was worried at some point we could loose several hundred points.

One of the two contracts in already into ROFR, we had an offer within 2 days. The other is stripped so I expect it to take quite a while to sell. Then we'll only have 100 points left in the Feb UY which won't be too hard to keep track of.

By the way I love SSR so I'm a little sad selling these points. I think our WDW trips will still include a lot of stays at SSR anyway, with a few days at AKV.

 

[DVCSAMNH]

I would think, being the new resort sold in the last few years, SSR owners have the largest mortgages. A large contingent of buyers of the earlier properties have either finished paying for their points or have substantially paid them down.

We have also read many posts on these boards of folks using equity loans and lines of credit to pay for their points. It seems these two things combined would put more SSR owners at greater risk of having to sell fast and cheap

 

[nickspace]

We just became new 160 pt SSR owners at $78 a pt and are glad to be a part of the community.

One factor, besides the size, is that SSR is new so many of the owners are still paying. Many of them may want to eliminate this extra bill. Vacations are nice but if you can't pay the mortgage, buy food and fuel the timeshare must go. Most of the people who own at older resorts have paid for them in full so they don't have the monthly payment to make. I also think people may have been spending too freely a couple years back and now that we have a mortgage and fuel crisis people are making adjustments.

I know that we wanted to buy SSR a few years ago but the timing was not right. I could have pushed it some and made the purchase but I'm glad I waited. Now we can own without the financial burden.

 

[castleri]

I think that as well as the economic conditions there may have been some people who purchased when there were some really good incentives. They have now taken vacations, used the APs they got and have decided to sell those points with very little if any actual loss of money. Others of course probably did buy and then realize that the payments and MFs were more than they can comfortably handle with the increase in prices for everything else.
SSR also has the most owners so will probably continue to have the most resales on the market for awhile.

 

[CarolA]

Why r u getting rid of SSR? Are there issues that I need to know about before I end in my signed contracts for SSR and if there are, are they related just to SSR or the whole concept of DVC. Now I don't know if I should sign there, go to AK or just cancel the whole thing. Help!!!!

Actually I REALLY like SSR.

I am selling mainly because I have too many points and the SSR contract is kind of an "orphan" All of my other contracts are a March use year and SSR is a June use year.

 

[gkrykewy]

I bet 1-2 years after purchase is prime time for regret sales, and most of SSR's sales are right in that range now. AKV will have a bump in a year or so.

 

[moredisneyplease]

We just became new 160 pt SSR owners at $78 a pt and are glad to be a part of the community.

One factor, besides the size, is that SSR is new so many of the owners are still paying. Many of them may want to eliminate this extra bill. Vacations are nice but if you can't pay the mortgage, buy food and fuel the timeshare must go. Most of the people who own at older resorts have paid for them in full so they don't have the monthly payment to make. I also think people may have been spending too freely a couple years back and now that we have a mortgage and fuel crisis people are making adjustments.

I know that we wanted to buy SSR a few years ago but the timing was not right. I could have pushed it some and made the purchase but I'm glad I waited. Now we can own without the financial burden.

I completely agree with this. Though I'm nearly done paying off my 150 SSR, if we were in a financial bind due to this economy (thank goodness we're not) this most certainly would be the first thing to go.

 

[gk90]

Here's a thread with a chart with numbers for TSS resales--in Jan 08 they had 85 SSR resales.
http://disboards.com/showpost.php?p=25127324&postcount=33

I bet 1-2 years after purchase is prime time for regret sales, and most of SSR's sales are right in that range now. AKV will have a bump in a year or so.

We bought an SSR resale last month, looked up the deed on the Orange County website and saw that the owner had had it for 2 years.

 

[mrdiscranky]

too many points

These words confuse me. They look like English, and seem like they should have meaning. But my brain simply cannot understand the concept you are trying to convey.

 

[CarolA]

These words confuse me. They look like English, and seem like they should have meaning. But my brain simply cannot understand the concept you are trying to convey.

I know the feeling.

It was a hard fact to face!

 

[moredisneyplease]

Being an opportunist I've been watching these resales rather closely and just might add more on. Not to mention the 2.9% interest for the life of the loan convenience check that I received from Dinsey Visa is making me consider taking the plunge sooner rather than later!!

 

[Connears]

Being an opportunist I've been watching these resales rather closely and just might add more on. Not to mention the 2.9% interest for the life of the loan convenience check that I received from Dinsey Visa is making me consider taking the plunge sooner rather than later!!

I haven't received that offer from Disney Visa and I've had it since day one..when did you get that?

Connears

 

[CarolA]

I haven't received that offer from Disney Visa and I've had it since day one..when did you get that?

Connears

This month I had two checks for 0% for some period of time and some other checks. One was for some low rate until paid off. (I shreeded them so the details are hazy.)

I have two chase accounts and I get these ALL the time. They say "important card holder" information and are NOT in the bill!

 

[starbox]

The "lots of SSR" topic pops up about once every couple of months - I agree with all the PP that say that owners of the newest resorts are the most likely to "bite off more than they can chew" and find themselves needing to cutback - they're more likely to be younger (mid 20's tp early 30's) with less stable finances. You figure a family that bought SSR two years ago with a 2 and five year old kid and a minivan may now have a third child plus be spending a couple hundered extra dollars just on gas for that van. They are also more likely to have underestimated how much taking DVC vacations would cost in addition to the DVC payments. Unless Disney tightens their credit approval standards -I'd expect CRV to have a huge number of resells about two years after it opens because I think alot of people are going to buy it based on emotion and not be able to handle the reality of the expense once the initial thrill wears off - if owners can't pay cash for the park tickets, meals, and travel to and from Disney each year - I think they're going to be unlikely to put more than a year or two's trips on credit cards before they decide to sell.

What surprises me about the timeshare listings is not the SSR listings but the AKV listings! Kidani is not even open and AKV has only been on sale for about a year and half - so those are owners that barely hung on to their contracts. I'm also surprised at how many smaller contracts there are for all the resorts - I remember a year and half ago when we were looking to add-on, you almost never saw a 100 point or less contract that was not immediately "sale pending".

 

[figment795]

These words confuse me. They look like English, and seem like they should have meaning. But my brain simply cannot understand the concept you are trying to convey.

 

[CarolA]

I think in my case had I known AKV was coming I might not have bought SSR. (I really thought that the next one would be the long rumored monorail DVC which I KNEW I was not buying!) While I really like SSR the one place I HAD to own was AKV!

Then when I bought AKV I did sell some OKW points. Leaving me with these 100 SSR points in a different use year. So off they go

(And they are going to go fairly cheap... LOL! I am not even trying to break even. I figure paying dues is an expense plus it's going to be a stripped contract!)