Lower than low resales...

[LadyKay]

I just visited the Timeshare Store site and saw Saratoga resales going for as low as 71$/point. Not sure how that would make me feel if I owned at SSR!!!

 

[dvc_john]

The 2 listed at $71/point are stripped contracts, with no appreciable number of points coming until February or April 2010.

Most of the SSR contracts are listed at $78-88 per point.

 

[LadyKay]

I did notice that they were stripped but 71$/point for one of DVC newest resort. WOW! That's a bargain and a half.

 

[hellerjw]

I've always looked at it as a depreciating asset anyway so I expect it to lose value. Granted, had I recently purchased and never used my SSR points yet then those values would upset me a little. However, if I had used it a few times after my $90-something/pt purchase price I would just consider it the depreciated value of what I've already gotten out of it.

 

[LadyKay]

I'm mainly floored by the comparison with other DVC resorts even the ones older than SSR.

 

[dudelydude]

I don't know if you fully appreciate John's point. Just think if you owned at SSR and you decided to sell your contract having already borrowed all of your 2009 points. Now, there are no points available until 2010...who's gonna buy that? Nobody...that is...unless they can get it at an incredible value. If you are that desperate to get your cash back on your contract (even if not what you paid for it), you will try to lure someone into making an offer, so Disney will take it back on ROFR.

 

[Blahnde]

You may be right that it is a bargain at $71, but that bargain may well go to DVD, not a private party. No one can explain DVD's logic regarding ROFR, but it does seem clear that they snatch up good bargains, which is why the rest of the SSR contracts are going for $78 - 88 per point. And while SSR is a "newer" resort it has some drawbacks, but hopefully the recent announcement of Treehouse Villas being a part of SSR will improve the overall value (real and perceived) of the resort.

Blahnde

 

[LadyKay]

I don't know if you fully appreciate John's point. Just think if you owned at SSR and you decided to sell your contract having already borrowed all of your 2009 points. Now, there are no points available until 2010...who's gonna buy that? Nobody...that is...unless they can get it at an incredible value. If you are that desperate to get your cash back on your contract (even if not what you paid for it), you will try to lure someone into making an offer, so Disney will take it back on ROFR.

Thank you for the translation dudelydude, but I fully understand. FYI, I have seen stripped contracts going for more; is the point I was attempting to make!
It was simply an observation. Is SSR still being sold directly through Disney? If so at what cost?

 

[Mississippian]

Thank you for the translation dudelydude, but I fully understand. FYI, I have seen stripped contracts going for more; is the point I was attempting to make!
It was simply an observation. Is SSR still being sold directly through Disney? If so at what cost?

Disney gets contracts back not only through ROFR but also through foreclosure and deedbacks. My personal opinion is that they have a lot of SSR point for sale. I would be really surprised if the resort is 85 percent sold out.

I think this is one of the reasons for the Treehouse Villas. My personal opinion is that these excess SSR units are going to be a continuing drag on DVD, which to my mind is a good thing. They will have an incentive not to do anything like this to the membership again.

 

[LadyKay]

Mississippian, Thank you for your informative reply.

 

[JWG]

Due to the size of SSR and its lack of proximity to a park, I would expect its value to be lower than the others. OKW may be the lowest based on its age and also not being close to a park (but it has golf), but SSR is always where we end up if we book inside the 7 mos. window on all resorts.

SSR has made booking at the 7 mos. point very difficult as I believe many people bought there and then try to book elsewhere. We only get Boardwalk (typically) if we book in the 8-11 mos. window. We can't make a last minute vacation decision and get there even as a home resort. Perfect example, we booked September 2 for a trip in February (5.5 mos. out), we can't get into Boardwalk.

Anyway, I ramble on my point being SSR has the most availability and rooms, thus its value should be lower. But at $71 I almost guarantee ROFR by Disney. Sounds like someone is just trying to unload, even if stripped.

 

[Rileygirl]

On the rofr thread here on the disboards, there have been SSr contracts passing rofr at the 72 dollar mark.

I think if/when Disney puts the SSR back as a DVC property they are currently selling (thinking about treehouse villas, they will have to sell them, right?) I think then Disney will start hiking the ROFR rate back up on SSR...right now its open season.

Although, from all appearances, Disney is pretty unpredictable regarding what will pass or not. I have heard that they take contracts from resells that they have wait lists for. I know that I slipped by with a BVC contract, Sept use year, and someone has been waiting for more then a year on the Disney waitlist for BCV sept use year. My contract was full of current and banked points too... so I wonder about this being a factor at all.

I read on another forum board that the ROFR process is at the mercy of a monkey, a bottle of rum, and a dart board (or something like that - I may have it a little twisted) -- but anyways, it made me laugh.

 

[LIFERBABE]

Well considering I paid $79 per point for SSR back in 2003, got full developer points and 2 Annual Passes, if I had to sell my stripped points for $71, I would feel pretty good and DO feel good about my SSR purchase. Not bad for 5 years of vacations.

I think the intent of this post was not true concern for SSR owners or their portfolios.

 

[deide71]

Hmmmm,

Looks good for those of us in the market for some extra points!

 

[TenThousandVolts]

I am an ssr owner and it doesn't bother me at all. Sure, I paid more than that, but I have been thoroughly enjoying my membership so, it was money well spent. I do plan on adding-on soon, so there is a silver lining to plummeting prices, at least for me..

 

[Chuck S]

As far as the particular SSR contracts in question, since we don't know why the person is selling, we really can't draw any conclusions. They may need out of the contract quickly because of divorce, job loss, or the economy. They may simply want a quick offer to get rid of it because they can't afford the payments anymore, and they are trying to make ends meet. Remember that many SSR contracts are still mortgaged, if they have to choose between a place to live and a vacation home...what do you think they'll choose?

We don't even know if they actually used any of the points themselves, or if they rented them out to get a little cash. Or maybe some unforeseen medical expenses have come into play. It really could be anything.

 

[dudelydude]

I read on another forum board that the ROFR process is at the mercy of a monkey, a bottle of rum, and a dart board (or something like that - I may have it a little twisted) -- but anyways, it made me laugh.

VERY FUNNY

 

[dudelydude]

if they have to choose between a place to live and a vacation home...what do you think they'll choose?

Hmmmm...I don't know, Chuck. You present a tough question.

 

[LadyKay]

I think the intent of this post was not true concern for SSR owners or their portfolios.

Then your assumption would be entirely wrong. It was an observation! No need to get on the defensive!

 

[pinnocchiosdad]

When I first heard about THV the first thing I thought of was SSR resales. I am curious if there will ba an an increase in SSR resale prices.