Monthly ROFR Data - UPDATED 05/07/2013

[wdrl]

I appreciate your efforts on maintaining this. I tried to get at the data myself through the comptroller's website, but couldn't get through the "noise" of OKW extensions, etc. This is really good info you're putting together.

How long does it take you to do this every month, anyway?

The ROFR data is fairly easy to collect and enter on my spreadsheets. I don't think I spend more than 15-20 minutes a day retrieving and posting the ROFR data. I spend much more time retrieving and posting data on Disney direct sales for the WDW resorts, which averages about 60 minutes per workday (OCC only updates its website on weekdays). I enjoy working with these numbers, so I look at it as part of the fun of being a DVC member.

I'm a little behind on updating my stats. We've been on vacation at WDW since 9/29, and I'm sitting on our balcony here at HHI as I write this. I'll catch up once we get home on 10/14.

 

[WeLoveAriel0505]

The chart below reflects updated data through September 30, 2010, on deeds reacquired by Disney, mainly via the ROFR process:

Disney continues to spend most of its ROFR efforts on reacquiring BCV points. In September 2010, the 3,635 BCV points were reacquired by Disney at prices ranging from $55.00 to $83.50 per point. The average price for the BCV points was $71.67/point.

The BWV deed that was reacquired at a cost of $67.00/point.

Disney also reacquired a BLT deed. However, I suspect this deed was not reacquired by Disney through the "normal" ROFR process. According to the sale/consideration information recorded with the Orange County Comptroller, the BLT deed was reacquired at $120.00 a point, which is the full, non-discounted price for BLT. In addition, Disney reacquired this deed only a few weeks after it had been sold to the original buyer. Thus, it appears to me that Disney may have been taking back this deed for reason unrelated to it right of first refusal.

Just want to thank you for your efforts in this thread. For those like myself, who just added on with resale, this really educated to not have concern about worrying ROFR (at least at SSR). Thanks so much as we passed both of our add on contracts!

 

[longbeach]

I saw where two BWV resales on eBay recently concluded. 100 points went for $5401 and 150 points went for $8095, each about $54 per point. The eBay listing numbers were 110586702240 and 180561501578 respectively. It will be interesting to see if they are ROFR'd.

 

[carlbarry]

Just passed ROFR. Add on, OKW 150 points, Aug. UY, 140 available, 150 banked, $8,800 seller pays closing.

 

[wdrl]

DVD continued to ROFR BCV deeds in October 2010, and at a slightly greater number than in previous months. According to the warranty deed information recorded with the Orange County Comptroller, the 4,275 BCV points were reacquired by DVD from $58 to $82 a point, with a weighted average price of $72.29 a point.

DVD also reacquired some BWV points in October but, as in other months, the vast majority of its ROFR activity is centered on BCV. Even though the base prices of BLT and SSR are suppose to increase soon, I doubt if we will see DVD actively ROFRing deeds for these resorts. I suspect DVD has far too many points for BLT and SSR in its inventory to reacquire more points.

For brevity's sake, I modified my ROFR chart to display the last three calendar months and a summary for all ROFR activity since June 2010.

 

[sillykid]

WDRL
Just curious, do you know the price of the BWV ROFR?

 

[wdrl]

Just curious, do you know the price of the BWV ROFR?

There were two BWV deeds reacquired by DVD in October. A 155-point contract was reacquired at $52.66/point, and a 170-point contract was reacquired at $55/point. The weighted average was $53.88/point.

 

[lisareniff]

Thanks for all your work!!!

 

[jimsanfilippo]

There were two BWV deeds reacquired by DVD in October. A 155-point contract was reacquired at $52.66/point, and a 170-point contract was reacquired at $55/point. The weighted average was $53.88/point.

I wonder why my 200 BWV points cleared at $50/pt? That was just in Sept.

 

[wdrl]

I wonder why my 200 BWV points cleared at $50/pt? That was just in Sept.

There are several factors that might come into play. Both BWV deeds that were reacquired by Disney in October were for the June UY; they may have been loaded with the full complement of 2009 and 2010; perhaps the closing costs that Disney had to pay was different. Or perhaps Disney reacquired the points as a precursor to a foreclosure activity. The data just gives us a glimpse of what is happening, but it doesn't explain why its happening.

 

[ttepsich]

WOW ! Great work! The numbers make my head spin. I'm glad someone can organize it for the rest of us. I have been patiently waiting for a "good" small resale contract for BCV to materialize. I added on BVC points through Disney in Dec '09 and July '10. Just small amounts of points but paid more than I wanted to. I justified it in my mind that closing costs on a resale brought the price per point closer to what Disney was charging. (and I NEEDED to make a reservation for June "11) Now, with the price increase for add ons, the difference is no longer justifiable. Looks like I could have been one of the recipients of those ROFRed points. This info will help as to what a "reasonable" offer may be in the future when that perfect resale appears!
Thanks again for all your hard work!

 

[wdrl]

Based on warranty deeds recorded with the Orange County Comptroller in November 2010, Disney reacquired 16 Beach Club Villa deeds representing 3,192 points. BCV was the only DVC resort at WDW that Disney reacquired points via the ROFR process during the month of November.

According to the Sale/Consideration entry posted by OCC on each deed, the 16 BCV deeds were reacquired at prices as low as $58.00/point to as high as $83.00/point. The weighted average for all 3,192 points was $76.72/point. By comparison, the weighted average prices per point for September and October 2010 were $71.67 and $72.29, respectively.

This data is consistent with information collected by Donald is #1 on her thread tracking ROFR activity (see http://www.disboards.com/showthread.php?t=1960185). Individuals are reporting that BCV offers in the mid-$80s price range are passing ROFR, while offers at $80 and below are being ROFRed by Disney.

Keep in mind that the ROFR process is not the only method by which Disney reacquires DVC points. There are far more points reacquired through the foreclosure process.

For display purposes, I have modified my ROFR chart to display a summary for all ROFR activity since June 2010 and only the last three calendar months.

 

[princessbride6205]

Thank you! This data is awesome as always!

 

[corpcomp]

So BCV represents 92.2% of all points that have been ROFRed in the last 6 months. I continue to be baffled as to what DVC is doing re BCV.

Maybe there is just more demand for non DVC rooms at BCV.

 

[wdrl]

So BCV represents 92.2% of all points that have been ROFRed in the last 6 months. I continue to be baffled as to what DVC is doing re BCV.

Maybe there is just more demand for non DVC rooms at BCV.

Based on deeds recorded at OCC beginning July 2010, Disney has ROFRed about 6,500 more points at BCV than it has sold. Even if allowances are made for the lag time between a sale or ROFR and its recordation at OCC, it appears Disney is taking back more BCV points than it is selling. In all likelihood, Disney knows it can recoup its buyback costs either by renting villas out for cash or by eventually selling the points. The 3,192 points ROFRed in November were bought for $244,900, exclusive of closing costs, MFs, and administrative overhead. If Disney resells them for $115/point, those 3,192 points will generate $367,080, less costs associated with selling those points. I also suspect that Disney knows these BCV won't remain in its unsold inventory for long, so its money won't be tied up for long.

 

[psac]

This is great data. Hopefully they continue this trend, and our BWV goes through...

 

[dizfan]

Based on deeds recorded at OCC beginning July 2010, Disney has ROFRed about 6,500 more points at BCV than it has sold. Even if allowances are made for the lag time between a sale or ROFR and its recordation at OCC, it appears Disney is taking back more BCV points than it is selling. In all likelihood, Disney knows it can recoup its buyback costs either by renting villas out for cash or by eventually selling the points. The 3,192 points ROFRed in November were bought for $244,900, exclusive of closing costs, MFs, and administrative overhead. If Disney resells them for $115/point, those 3,192 points will generate $367,080, less costs associated with selling those points. I also suspect that Disney knows these BCV won't remain in its unsold inventory for long, so its money won't be tied up for long.

wdrl thank you for all the great information on ROFRs.

Very interesting that Disney has been ROFRing more points than they are selling.

 

[wdrl]

The "Circle of Life" doesn't pertain just to Disney's classic movie "The Lion King." It also applies to DVC points. Back in July, a Disboard member made a bid on a BCV contract that was ROFRed by Disney. On November 22, 2010, Disney sold some of those points to a new buyer. Here is the updated timeline:


7/21/2010 - Member makes an offer for 100 BCV points from Unit #21 at $80/point.

7/28/2010 - Member is notified that Disney exercises ROFR on offer.

8/19/2010 - Seller signs warranty deed transferring 100-point BCV deed to DVD.

9/07/2010 - Warranty deed is recorded and filed at OCC. OCC indicates the "Sale/Consideration" value of deed is $8,000.00.

11/22/2010 - A new DVC member buys 175 BCV points in seven 25-point deeds. 75 of the points come from BCV Unit 21. Sale/Consideration value is $115/point.

12/09/2010 - Deeds are recorded and filed at OCC.


This timeline shows that it took Disney no more than three months (8/19 to 11/22/2010) to sell 75 of the 100 points it reacquired.

 

[wdrl]

Someone requested a list of the actual records that are reflected in the monthly ROFR chart. Here is the list of warranty deeds posted at OCC for October and November. It is sorted by resort and then by the most recent date.

 

[wdrl]

In December, DVD continued to spend most of its ROFR efforts on reacquiring BCV deeds. In addition to reacquiring 15 BVC deeds in December, DVD also reacquired an SSR deed and an AKV deed. According to the warranty deed information recorded with the Orange County Comptroller, the 15 BVC deeds represented 3,312 points and were priced in a range from $65 to $84, with a weighted average price of $76.68 a point.

The SSR deed that was reacquired in December was the first deed for that resort since I started tracking this data in June 2010. The SSR deed was reacquired at a price of $59 a point.

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.

For brevity's sake, I modified my ROFR chart to display the last three calendar months and a summary for all ROFR activity since June 2010. I have also included a listing of the deeds that comprise this month's data.

Be sure to check out Donald is #1's excellent thread on ROFR activity on the Operations board if you want more detailed information about deeds that have passed, or failed, the ROFR process. See http://www.disboards.com/showthread.php?t=1960185