New Low Price for Poly????

[Jkarrows]

I would expect Disney will take it back as soon as it gets to ROFR.

 

[jerseyduke]

That is a lot of points for studios unless you are doing a lake view for like 10 days over Christmas and new years. And for the most part, you do not need Poly points for the Bora Bora bungalows.

Maybe I should do the person a solid, and tell them I will take it. DIS is going to ROFR that one most likely anyway!

 

[jerseyduke]

I wonder when DVC will reach the point of being "overbuilt."

How many people can really afford these prices? It's not only the upfront and ongoing costs, but everything else required to visit WDW - airfare, park tickets, meals, incidentals. I think most of us know that so many people buy DVC as an impulse without considering the long term budget implications. I wonder what percentage of newer buyers feel like they have been sold snake oil, especially given reports of guides increasingly using dishonest tactics to close direct sales.

DVC has proven to be very popular (which is why it has expanded to the point it has thus far) -- but if Riviera and Reflections don't sell well, will that finally signal a halt to building more DVC hotels?

I think that is is very likely. They are also running low on prime locations. I would not be surprised if you see a DVC 2.0 - being moderates - after Reflections., but who knows

 

[Momtomouselover]

Interesting, I bid $135 on a Poly contract with them a couple of weeks ago and they essentially laughed at me and said no way the Seller would accept that offer. That contract is still out there. If I don't pass ROFR on the contract I am currently working on, I may make another stab at it.

I recently bid 146/pp on a contract and it also was not accepted. I get it but they countered with. $1 off their original high price. No thanks. There are a lot of Poly contracts. I’ll wait or won’t buy right now. Btw, the resale agent was nice and no one laughed or anything but the counter was not acceptable.

 

[_auroraborealis_]

Thanks for the answer and the English lesson

It's not so much an English lesson as understanding what the words mean to a room assignor.

Adjoining will not have an interior connecting door.

 

[badeacon]

I was able to get PVB at $130 back in June which passed ROFR, now waiting on a delayed closing date. I ,too, have noticed more PVB contracts offered and price appears to be decreasing as a few others have reported 130-135 prices accepted. I think Disney may start taking some PVB contracts in ROFR soon .

 

[kboo]

Back when I first bought VGF there was a crazy huge VGF contract for sale - it was over 1000 points and I think it was a guaranteed week in a GV? It was asking around $120pp around then, and sat for a long time, and eventually sold. I don't know what or how it happened, but I think the total asking price was around $112,000.

 

[Bing Showei]

DVC has proven to be very popular (which is why it has expanded to the point it has thus far) -- but if Riviera and Reflections don't sell well, will that finally signal a halt to building more DVC hotels?

Or how about it signal a halt to bad resale-restriction policies designed to benefit no one but Disney?

 

[skippytx]

I feel like we're running into the first big phase of "people who didn't know what they were buying."

We had signed at WDW to buy at Poly and rescinded when we got home. We realized the lack of room choice was something we couldn’t get past.

 

[Mumof4mice]

When I was DVC shopping last year, the broker had a 400-500pt PVB contract that sold and passed ROFR at $110pp. I had 2 contracts in ROFR at that point, so didn't make a move on it. That contract is still the one that got away!

I'd have no hesitation adding more PVB points if prices dropped further. Out of the monorail resorts it has the best availability for studios, likely because many owners bank/borrow points and trade out for larger units. It's as much an "Epcot resort" as Riviera is, when the monorail fleet eventually gets replaced, and having all the amenities of Poly+GF within walking distance wins over Riviera's location.

 

[indyannamom]

Interesting, I bid $135 on a Poly contract with them a couple of weeks ago and they essentially laughed at me and said no way the Seller would accept that offer. That contract is still out there. If I don't pass ROFR on the contract I am currently working on, I may make another stab at it.

We had a similar response from a broker when we put an offer in on our AKL resale contract. I told him that I understood why he thought that, but that was the offer we were prepared to make, and if he wanted me to work with another person we could. He agreed to put the offer in as I requested. The seller accepted our offer and we passed ROFR.

You never can tell!

 

[kniquy]

I feel like we're running into the first big phase of "people who didn't know what they were buying."

I think you are right about this --We bought a poly resale contract -put in the offer in April -- The sellers had just bought in June of 2017, it was listed for $165 pp in September of 2018. They only owned a little over a year and probably only took one trip if that (even had points in holding that had already expired). I low balled at $140pp and was countered at $150. We settled on $145 pp which i didn't think was too bad as it had a good amount of current points.

Some people are more desperate than others to sell, so putting in a low offer is always something to try first.

 

[smith365]

At one time a while ago, I looked at rooms in Poly on the website. There was a selection for conjoining rooms. However, it was removed the next time I searched. It would be nice if this was a permanent feature.

 

[mustinjourney]

I feel like DVC Resale Market does that pretty frequently to offers. I've had a few definitely *normal*, mainstream, not lowball offers, be refused to be passed on to the seller by the agent, and it felt like the agent was just fishing to get me to offer more. It's one thing for the agent to say "I don't think the seller's inclined to accept" but it's another to just sit on the offer and never pass it through. One thing I'm growing to increasingly dislike about shopping the resale market is that because the broker's working both sides of the transaction, they sometimes seem to exhibit conflict of interest-type behavior in some circumstances.

Absent instructions to the contrary from the sellers, they are legally bound to forward all legitimate offers. If that happens again -- you might want to remind them of that fiduciary duty.

 

[mustinjourney]

Back when I first bought VGF there was a crazy huge VGF contract for sale - it was over 1000 points and I think it was a guaranteed week in a GV? It was asking around $120pp around then, and sat for a long time, and eventually sold. I don't know what or how it happened, but I think the total asking price was around $112,000.

I think I heard a broker ended up buying that contract out for rental purposes. I considered cashing out a portion of my 401k to buy it as a real estate 401k for rental purposes -- but I couldn't easily figure out if that was possible or not. That and I was worried that it would be tough to sell in 10 years if I needed to.

 

[skippytx]

I feel like DVC Resale Market does that pretty frequently to offers. I've had a few definitely *normal*, mainstream, not lowball offers, be refused to be passed on to the seller by the agent, and it felt like the agent was just fishing to get me to offer more. It's one thing for the agent to say "I don't think the seller's inclined to accept" but it's another to just sit on the offer and never pass it through. One thing I'm growing to increasingly dislike about shopping the resale market is that because the broker's working both sides of the transaction, they sometimes seem to exhibit conflict of interest-type behavior in some circumstances.

I totally get where you're coming from, but I can almost guarantee you that agent is more concerned with selling the contract as fast as possible and getting paid, then they are getting an extra 5 or 10 dollars a point for their client. Real Estate is all about getting deals done, and moving on to the next one, not maximizing every cent out of every deal. Killing a deal over less than 100 dollars net in their pocket doesn't make sense.

For example, say you're selling 200 points at 150 a point. Someone offers 135. 30K vs 27K. Broker makes 8.5% commission on the deal. You're talking 255 dollars difference in commission, of which the actual agent might only see 50% of that depending on their share. They're not going to kill a deal over 127 bucks. They want to get the contract sold and get paid.