Monthly ROFR Data - UPDATED 05/07/2013

[DVCGeek]

DVD also reacquired an AKV deed in December. However, I suspect that this deed was not part of a "normal" ROFR transaction. It was a deed for 313 points and was reacquired on 12/17/2010 at $101/point. Just a few days later the original buyer bought another AKV deed for 313 points with a different UY. I suspect DVD bought back the original deed because the buyer wanted a different UY and DVD erred when it sold the first deed.

Thanks for sharing the theory; when I first glanced at the chart and saw the $101 pp I thought it HAD to be a typo for AKV... Seemed a pretty high ROFR price for almost any 'currently marketed' resort!

 

[SanDeeKath]

Wow, I just discovered this thread. Thank so much for this excellent information! Katherine

 

[suebeelin]

I'm looking to submit a bid for AKV, 160 points at 63pp. Any help is much appreciated... do you think it may get ROFR'ed? I'm nervous.

I originally wanted BCV, but it seems to be a highly sought after property. Does anyone know why BWV isn't as highly sought after?

--Newbie without any points... YET...

 

[SanDeeKath]

I'm looking to submit a bid for AKV, 160 points at 63pp. Any help is much appreciated... do you think it may get ROFR'ed? I'm nervous.

I originally wanted BCV, but it seems to be a highly sought after property. Does anyone know why BWV isn't as highly sought after?

--Newbie without any points... YET...

Just submitted AKV at $65 for 200 pts. Not sure it will pass though. I have about 2 more weeks till I hear...

I would suggest having the seller increase the price by a few points ($2 to $3 perhaps) and have THEM pay the closing costs and/or maintenance fees in exchange. Katherine

 

[suebeelin]

Katherine-- do you pay Closing and 2011 MF? Pls let me know if you pass-- I think I'm going to go through with this... but worried that there's gonna be a dramatic price drop in 2 months (due to the changes in resale "rights/perks")... any thoughts??

 

[suebeelin]

Oh! Katherine-- I just read your strategy-- good one!

 

[wdrl]

January 2011 was a relatively slow month for ROFR activity. Six BCV deeds and one BLT deed were reacquired by DVD, based on warranty deeds filed and recorded with the Orange County Comptroller during January. According to OCC, the BCV deeds were priced between $63.16 a point to $84.00 a point, for a weighted average of $72.98.

The BLT deed was reacquired at the price of $120.00 a point. Based on that price, its highly likely that DVD bought back the deed for some reason other than as part of a "normal" ROFR procedure.

Although the number of ROFRed deeds was lower than in prior months, its premature to assume that DVD is cutting back on its ROFR activity on BCV deeds. Its possible buyers and sellers are setting prices on resale deeds above DVD's target ROFR price, which is in the low $80s, resulting in few deeds that DVD wants to reacquire. As noted in Donald is #1's thread on ROFR activity (see http://www.disboards.com/showthread.php?t=1960185), several BCV deeds that passed ROFR in the last few months were priced in the mid-$80s or higher. However, the most recent BCV resale deed to clear ROFR was priced at $81. It will interesting to see if there is a shift in ROFR activity next month.

Once again, I shortened my chart to show the last four months of data, as well as a total since June 2010.

 

[Terri730]

Can someone explain to me what ROFR stands for. I'm new to the boards. Thanks!

 

[a742246]

Can someone explain to me what ROFR stands for. I'm new to the boards. Thanks!

Disney has a ROFR right of first refusal. Basically this means every resale contract that is sold has to have Disney's approval. Disney has the option of buying that contract if it wants to.

 

[DVCGeek]

and when Disney does exercise "Right of First Refusal" they make the purchase at the same price and other terms (who pays closing costs, etc.) as what the original buyer & seller agreed to...

 

[a742246]

Wdrl I want to thank you for providing this data. Looking at data from
Donald #1 and your database. Everyone that is interested in buying a DVC
contract will get a better understanding on resale pricing.
Thank you again.

 

[wdrl]

Your welcome, a742246! Dizfan, Donald is #1, and I put some effort into collecting our data, and its nice to think its of interest to others.

 

[sc12330]

Wdrl – great info – really appreciate it. Here is our recent purchase time line (it was an add on to existing contract) – which I think you called out in post #87

BCV - Feb UY 200 points at $81
96 points from 2010
All 2011, 2012 points

Dec 17, 2010 – agreed to deal via email
Dec 18 - contract executed (Sat)
Dec 20 – submitted to Disney (Mon)
Jan 19 – Disney waived its ROFR via email
Jan 20 thru 27 - $ wired , ROFR waiver received, title commitment complete, seller documents signed
Feb 2 – Closed – Deed and ROFR recorded
Feb 11 – Points ready in DVC account - and most available points used for Thanksgiving trip!

Thanks again for your work. I hope this can help. I am surprised they did not reacquire this one - but I am not complaining.

BTW, the seller bought this in 2003 for $84, according to the deed – maybe less if they got some incentive. Not bad.

 

[wdrl]

BCV - Feb UY 200 points at $81
96 points from 2010
All 2011, 2012 points

I am surprised they did not reacquire this one - but I am not complaining.

BTW, the seller bought this in 2003 for $84, according to the deed – maybe less if they got some incentive. Not bad.

I'm surprised, too. In early February, DVD reacquired a 150-point BCV deed and a 200-point BCV deed. Each had a February UY. According to the OCC record, the 150-point deed was reacquired at $83/point, and the 200-point deed at $84/point. I'll update my ROFR chart in the next day or so.

Congratulations on getting a good deal on your deed!!

 

[RevKjb]

Hi folks,

JUST passed ROFR (SSR Dec UY $62 pp. 120 pts).

Thanks to the TIMESHARE STORE!

We're already planning...

KJB

 

[RevKjb]

Hi folks,

JUST passed ROFR (SSR Dec UY $62 pp. 120 pts).

Thanks to the TIMESHARE STORE!

We're already planning...

KJB

Went to ROFR on Feb. 11, we were notified on Feb. 28.

KJB

 

[lowe@massed.net]

Hi folks,

JUST passed ROFR (SSR Dec UY $62 pp. 120 pts).

Thanks to the TIMESHARE STORE!

We're already planning...

KJB

Congrat's and WELCOME HOME, KJB!

 

[lowe@massed.net]

Went to ROFR on Feb. 11, we were notified on Feb. 28.

KJB

Hope mine's that quick. Went into ROFR on our BWV contract on 3/1. It took 32 days for our SSR contract and it was torture!

 

[Nahanni]

WRDL - Thanks for taking the effort to compile, analyze and share this data.

I wonder where the BCV contracts for 50-60's come from and if any ever pass.

 

[wdrl]

I wonder where the BCV contracts for 50-60's come from and if any ever pass.

Are you asking about BCV deeds for 50 to 60 points? I looked at my data on ROFR deeds, and I find only one ROFR deed that was under 100 points. It was a BCV 50-point deed, October UY, that was ROFRed at $82/point. The person who almost bought the deed reported on Donald is #1's thread that their offer was ROFRed on 12/14/2010. The Warranty Deed was filed with the Orange County Comptroller on 1/14/2011.

It does not surprise me that most small deeds pass ROFR. Most buyers are willing to pay a premium for a small 50 or 60 point deed; thus, the resale price is higher and above DVD's ROFR threshold for BCV, which is about $80-$84/point.