Predictions - Copper Creek Villas 1st Resale Contract - Date/Price

[CarolynFH]

This thread was posted on Monday by @Cyberc1978 - sounds like it IS one of the contracts mentioned above by @storey13:

https://www.disboards.com/threads/ccv-now-available-as-resale.3647201/#post-58468243

(Edited to correct error)

 

[4luv2cdisney]

I know this thread is old now, but 2 CCV sale listings just recently appeared on one of the broker sites.
150 points for $159/point and 185 points for $148/point. So which one of you wins the prediction?

I would say @LAX. He's in the ballpark for both timing and price.

 

[KAT4DISNEY]

All the resorts have had resales pop up much more quickly than 2 years. As hakepb mentioned, life happens. I'm always a little sad when it starts showing up and the owners haven't even gotten to enjoy a single trip.

The first PVB was somewhere around 4 1/2 months from sales starting. VGF was closer to 3 months. BLT was around the 4 1/2 to 5 month mark.

I know this thread is old now, but 2 CCV sale listings just recently appeared on one of the broker sites.
150 points for $159/point and 185 points for $148/point. So which one of you wins the prediction?

So almost 7 months. That's the longest it's taken for the first resale to show up in a long time.

 

[ziravan]

With general public sale set to begin in April and annual dues notices likely to be sent out around November, my guess is about 7 months at a price of about $150 as owners try to dump their contracts in droves before they have to pony up their dues.

LAX

Nailed it!

 

[LAX]

I have totally forgotten this thread until I saw it on my alert. I wish I have been this lucky in the stock market!

LAX

 

[TLPL]

Is it a good deal to buy these resale? I am not good at figuring these thing.

 

[Deb & Bill]

Is it a good deal to buy these resale? I am not good at figuring these thing.

The one is a Dec contract with no 2016 or 2017 points and only 18 2018 points. If you bought direct, you today and got a Dec contract, you would get 2016, 2017 and all 2018 points. So ultimately, you pay more. The other one has banked points, but you would get a discount if you bought direct. tjkraz had a great explanation on the email I got from him today. Maybe he'll post it here.

 

[TLPL]

The one is a Dec contract with no 2016 or 2017 points and only 18 2018 points. If you bought direct, you today and got a Dec contract, you would get 2016, 2017 and all 2018 points. So ultimately, you pay more. The other one has banked points, but you would get a discount if you bought direct. tjkraz had a great explanation on the email I got from him today. Maybe he'll post it here.

So not any better than buying direct then. Maybe those people actually figure out a way to make money buying new contract, use it for one big trip amd sell it before they have to pay the the next year due ????

 

[Deb & Bill]

So not any better than buying direct then. Maybe those people actually figure out a way to make money buying new contract, use it for one big trip amd sell it before they have to pay the the next year due ????

Yeah. But if I was buying that contract, I'd expect the seller to pay all 2018 and part of 2019 dues since they used up all the points for those time periods.

 

[tjkraz]

So not any better than buying direct then. Maybe those people actually figure out a way to make money buying new contract, use it for one big trip amd sell it before they have to pay the the next year due ????

It would be tough to turn a profit on a resale like that. Remember the seller has to pay 8-10% commission. Even if they get the $148 asking price, they're going to lose another $12 to the broker. They'll have paid some amount of dues. And the purchase was likely financed, meaning interest was paid as well. (If they actually paid $30k cash for the points, the owner forfeit potential investment income from that money.)

Add it all up and even if they get the asking price (doubtful), I can't see them really coming away any better off than if they'd just rented points.

More likely, some financial hardship has prompted the sale. Or they took a couple trips and realized that DVC isn't right for them, or that Copper Creek was a poor purchase decision. Upside: unless they have to come way down on price, they shouldn't take a huge loss on the deal.

 

[Wakey]

It's 'bizarre' (but good from an owner's point of view, if that owner is not thinking of adding on) that a stripped contract is (valuing the missing points at $14 a point) more expensive than buying direct. I can only think the agent or the seller is trying it on in the hope an inexperienced first timer does not realise they are paying more than buying direct.

 

[tjkraz]

It's 'bizarre' (but good from an owner's point of view, if that owner is not thinking of adding on) that a stripped contract is (valuing the missing points at $14 a point) more expensive than buying direct. I can only think the agent or the seller is trying it on in the hope an inexperienced first timer does not realise they are paying more than buying direct.

I suspect a lot of resale pricing is driven by what the owner needs to pay off at closing. Especially when financial hardship is involved. At one time, it leaked out that upward of 75% of all purchases are financed thru DVC. That figure is certainly higher when you add in home equity lines, etc.

This contract was only purchased in the last 6 months, and if financed the seller has to come up with the balance at closing. Every dollar they reduce the price is another dollar the seller has to pay.