Overstock- AKV resales

[DVC SSR Owner]

I noticed that recently there are even more AKV resales on the market than SSR. I have seen some listed as low as $71 pp. Any theories why this relatively new resort has so many resales? Can DVC really get $120 pp for this resort direct?

 

[Tara]

Because SSR has been on the market longer. For a while AKV was being pushed really hard and was the only option as SSR sold out (before THV were announced). So that's a lot of buyers signing on and then facing unexpected economic conditions, buyer's remorse, etc. We're in prime time for those resales now.

 

[nickspace]

I think the AKV theming was attractive to people at first but after a while, along with the music, gets bothersome.

 

[lugnut33]

I think the AKV theming was attractive to people at first but after a while, along with the music, gets bothersome.

Really?

 

[alanapapa]

I think the AKV theming was attractive to people at first but after a while, along with the music, gets bothersome.

I hope I never get to the point where I think the theme and music are "bothersome". I can't wait to get back. We will be a Kidani Village in a GV the 25th through the 28th and then in a THV to the 1st of Jan.

 

[Sammie]

I think all the new resorts have their share of remorse buyers. Got into something they did not research well, and as stated ecomonic reasons factor into it.

DVC is not for everyone and it is not inexpensive. Buying is just part of the cost.

 

[staceymay00]

I have wondered if SSR and AKV have seen a higher percentage of contracts on the resale market due to the economy than the older resorts. Many people were getting away with living beyond their means more easily when Disney started selling AKV and SSR, but times have changed and maybe they can no longer afford DVC and regular Disney trips, or they realized they should be saving more of their income. And then of course there are people realizing DVC and vacationing at Disney regularly is not for them. I would think someone who simply tires of AKV would be more likely to book at other resorts rather than sell at a loss. I have only been watching resales for a year or so, so I don't know the trends after each resort has been sold for a while. Maybe this happend for all the resorts and it seems worse for SSR and AKV because they are large properties. Interesting question.

 

[Sammie]

I have wondered if SSR and AKV have seen a higher percentage of contracts on the resale market due to the economy than the older resorts. Many people were getting away with living beyond their means more easily when Disney started selling AKV and SSR, but times have changed and maybe they can no longer afford DVC and regular Disney trips, or they realized they should be saving more of their income. And then of course there are people realizing DVC and vacationing at Disney regularly is not for them. I would think someone who simply tires of AKV would be more likely to book at other resorts rather than sell at a loss. I have only been watching resales for a year or so, so I don't know the trends after each resort has been sold for a while. Maybe this happend for all the resorts and it seems worse for SSR and AKV because they are large properties. Interesting question.

I am sure that is alot of it.

 

[pinnocchiosdad]

We originaly purchased at AKV but sold our points earlier this year in favor of BLT. We love the theming and pool at the lodge, but KV has no quick service food and its a hike to the mail Lodge to eat. Also the pool at KV is much smaller than originaly proposed and appears to be themed at the kiddie crowd. We love BLT.

 

[BUDDYBEAR]

we love akl wish i was there

 

[JimMIA]

Many people were getting away with living beyond their means more easily when Disney started selling AKV and SSR, but times have changed and maybe they can no longer afford DVC and regular Disney trips, or they realized they should be saving more of their income.

I think this is a lot of the reason for the large number of both SSR and AKV resales on the market. From the point of starting sales at SSR, DVC relied very heavily on financed sales. The estimates I've seen were 75% or higher of the sales were financed, which I suspect is far higher than the financing trends at the older resorts. In addition, DVC reduced the minimum purchases -- at one point all the way to 50 points from 160 -- and that brought a lot of prospects into the market who could not previously afford a DVC minimum purchase.

If we got an accurate look at their sales today for the "new" resorts they're selling, I'd be surprised if the financing level was less than 80-85%. I think virtually all of their sales today are financed, even at the high rates they now charge.

Combine that with the economy and you're going to have a lot of failures. And don't forget, selling a DVC contract is far from the worst thing that can happen -- Disney has also taken many contracts back through "deed in lieu of forclosure" and actual foreclosures.

In addition, both SSR and AKV are large resorts with a lot of contracts outstanding, so you would expect a high number of contracts for sale.

Incidentally, I think we'll see the same thing with BLT, and for the same reasons. The time curve just hasn't caught up with BLT yet.

 

[Deb & Bill]

I think all the new resorts have their share of remorse buyers. Got into something they did not research well, and as stated ecomonic reasons factor into it.

DVC is not for everyone and it is not inexpensive. Buying is just part of the cost.

Most assuredly. DVC offered some great discounts at AKV, including incentive points and cash deals. After people buy in, they suddenly realize how much this is really costing them. When those monthly debits start happening every month when the kids need stuff for school, birthday months, Christmas shopping, etc, it can be a big chunk of the monthly income.

And some may have bought before they saw the resort and decided they really didn't like it there. I know we were looking forward to Kidani Village until we actually saw the resort when driving up. Really burst our bubble.

 

[wdrl]

I noticed that recently there are even more AKV resales on the market than SSR.

I have wondered if SSR and AKV have seen a higher percentage of contracts on the resale market due to the economy than the older resorts.

I think this is a lot of the reason for the large number of both SSR and AKV resales on the market. From the point of starting sales at SSR, DVC relied very heavily on financed sales. The estimates I've seen were 75% or higher of the sales were financed, which I suspect is far higher than the financing trends at the older resorts. In addition, DVC reduced the minimum purchases -- at one point all the way to 50 points from 160 -- and that brought a lot of prospects into the market who could not previously afford a DVC minimum purchase.

If we got an accurate look at their sales today for the "new" resorts they're selling, I'd be surprised if the financing level was less than 80-85%. I think virtually all of their sales today are financed, even at the high rates they now charge.

Like JimMIA says, there can be a number of factors causing owners to sell their deeds. The economy, change in lifestyle or vacation habits, dissatisfaction with Disney and/or DVC, etc., etc. Heck, there could be people selling one deed in order to buy a deed at another resort or to change UY.

Since I'm not privy to any meaningful statistics on DVC resales, I'm in no position to opine what is driving resales at one resort versus another. Its interesting that the discussion so far has centered on the number of AKV deeds on the resale market. However, a quick glance at the Timeshare Store's website today shows there are actually two more BWV resale deeds (49) on the market that AKV (47). Does this mean that BWV owners have tired of that resort? Or that they find the Luna Pool's clown "bothersome"? (just kidding, folks ). Of course, one quick look at just one resale website shouldn't be the basis of any analysis.

Based on data available from the Orange County Comptroller's website, I believe about two-thirds of the deeds sold by Disney have at least part of the purchase mortgaged. In the three month period ending November 30, 2010, Disney filed 3,830 deeds and 2,525 mortgages (65.9%). Aulani deeds and mortgages filed with the Hawaii Bureau of Conveyances show similar ratios of mortgages to deeds.

 

[Jaaron2]

I hope I never get to the point where I think the theme and music are "bothersome". I can't wait to get back. We will be a Kidani Village in a GV the 25th through the 28th and then in a THV to the 1st of Jan.

We just got back and stayed 5 nights in a Grand Villa (Jambo) then moved to BCV. The Grand Villa was UNBELIEVABLE! Best room I have ever stayed in anywhere!

 

[DVC SSR Owner]

Since I'm not privy to any meaningful statistics on DVC resales, I'm in no position to opine what is driving resales at one resort versus another. Its interesting that the discussion so far has centered on the number of AKV deeds on the resale market. However, a quick glance at the Timeshare Store's website today shows there are actually two more BWV resale deeds (49) on the market that AKV (47).

I was not saying that akv had the most resales. Just noticing that it was comparable in numbers to ssr.

 

[Debbie & Bill]

Quick thought AKL is a hard item to sell vs the other DVC resorts so there's a lot of unsold inventory...backing up and ....backing up. If location location location means anything here' it far from everything.

 

[TLPL]

Oh I love the theming, the music, and the location of AKV. Thanks for reminding me I should look into pick up more cheap resale points there.

 

[SanDeeKath]

Just bought 200 more points at AKV. The "sale" is to my advantage. LOOOVE the theme and the animals and everything else about that resort.

Katherine

 

[Maistre Gracey]

I think the AKV theming was attractive to people at first but after a while, along with the music, gets bothersome.

Not for me.. That's what I love about this resort, and we've been visiting regularly since AKL opened in 2001(?)

MG

 

[Be1021]

We just got back and stayed 5 nights in a Grand Villa (Jambo) then moved to BCV. The Grand Villa was UNBELIEVABLE! Best room I have ever stayed in anywhere!

The Jambo grand villa is unbelievable. I don't think any room on property can compare!