Pts resale bottom

[DVC SSR Owner]

We bought 200 SSR points a few months ago for $55 per point with free closing and free 2010 MF.

 

[bom_noite]

The problem with owning any non-WDW resort and trying to get reservations at WDW is this:

If you own one of the WDW resorts and you want to go during a busy time, you can book at your home resort during your 11-month window. Then, when seven months rolls around, you can try to switch the the resort of your choice.

If you don't get it, you're still fine, because you have a WDW reservation for the time you wanted to go. That strategy is why many of us recommend that you "NOT buy where you would be disappointed to stay."

You nailed it Jim.

We love OKW but owned at BCV. I have had more and more problems getting Ressies every year - and - we are simple folks and want to stay at OKW and nowhere else (Boring - I agree!).

As I see it every time DVC sells a contract I have a new neighbor who will compete for the available spots. It is going to get Sooooooooooo much worse with Hawaii coming on-line (imho).

It just became official today (passed ROFR): We sold our 150 point BCV contract and picked up a 190 point OKW contract (and will walk away with $35 in our pocket when the dust settles).

We had been thinking of doing this for 4 years - and - folks on the boards gave the idea a very lukewarm reception (when I posed the question a few years back).

I know we did the right thing. Not only will Ressies be easier, but, the additional 40 points will help us after the recent point adjustment.

 

[a742246]

That was a smart move.
Good Luck on your new purchase.

 

[rpk113]

The problem with owning any non-WDW resort and trying to get reservations at WDW is this:

If you own one of the WDW resorts and you want to go during a busy time, you can book at your home resort during your 11-month window. Then, when seven months rolls around, you can try to switch the the resort of your choice.

If you don't get it, you're still fine, because you have a WDW reservation for the time you wanted to go. That strategy is why many of us recommend that you "NOT buy where you would be disappointed to stay."

I always thought the mantra should be "buy where you want to go all the time". I'm a huge fan of HHI, great combo of relaxation with stuff to do with Kids (add Disney on top of that and your cake). So i would use it mostly as an EOY HHI vaca. But.. (big BUT coming), maybe every 2-3 years, we might wanna go to WDW. I'm not saying I need BLT or I need BCV. I just want to be on site.

btw, still waiting for the right contract to come along, as the wise Tom Petty once said "The waiting is the hardest part"

 

[bom_noite]

I always thought the mantra should be "buy where you want to go all the time". I'm a huge fan of HHI....

If you love HH - then - I think you are doing the right thing.

But.. (big BUT coming), maybe every 2-3 years, we might wanna go to WDW. I'm not saying I need BLT or I need BCV. I just want to be on site.

You might consider 2 contracts. One at HHI and one and a smaller 50 Point contract at WDW. With banking / borrowing you would be have 150 pts for WDW every 3 years. But, that may not be the best plan depending upon the time of year you go and if you are not choosy on resorts.


My personal thoughts on the market:
I don't think any of us have a crystal ball where the market will go. From what I know Disney is not buying back properties in that they are taking in a ton via Foreclosures. So, they have plenty of points without buying up any ROFR. Resale prices have also dropped due to the need for people to convert points to cash.

I see the market holding steady for a while. I understand many folks get in over their heads - that is natural. But, the economy probably increased the rate significantly. The economy seems to be stabilizing and the initial shock of the downturn seems to be past. You would think that the majority of people who bought over the last 2 years knew what they were getting in to financially (given the economy). So, I personally see the pace slowing in the near future.

When the foreclosure rate drops I do not think that will immediately affect ROFR as DVC probably has enough spare points to last them a bit.

But - who knows! Maybe they are ahead of their 2010 budget and have some spare cash sitting aside. Or, they may go on a one month ROFR spree out of principal.

Net Message: If the price is right now, then, it may be a "Bird in Hand".

 

[dianeschlicht]

You nailed it Jim.

We love OKW but owned at BCV. I have had more and more problems getting Ressies every year - and - we are simple folks and want to stay at OKW and nowhere else (Boring - I agree!).

As I see it every time DVC sells a contract I have a new neighbor who will compete for the available spots. It is going to get Sooooooooooo much worse with Hawaii coming on-line (imho).

It just became official today (passed ROFR): We sold our 150 point BCV contract and picked up a 190 point OKW contract (and will walk away with $35 in our pocket when the dust settles).

We had been thinking of doing this for 4 years - and - folks on the boards gave the idea a very lukewarm reception (when I posed the question a few years back).

I know we did the right thing. Not only will Ressies be easier, but, the additional 40 points will help us after the recent point adjustment.

Good job! We think OKW is the best DVC property of all. I always wish the others had the same room layout.

 

[Anthony1971]

Net Message: If the price is right now, then, it may be a "Bird in Hand".

No one knows where the market will go-- it was thought the bottom was reached months ago...who knows the prices could start going up.. DVC could decide to start selling SSR at 70 and buy all the resales..

The bottom line is DVC is a Timeshare and if you buy today at 55 and 4 months from know you could get it at 50 it does not change the purpose of what you are buying....
If you are buying to use the time share for the remaining life or at least foreseeable future you are getting a good deal as the prices are low... if you are buying because the prices are low and you think you can get some cheap vactions out if it you may be in for a big disappointment... you could also do ok, but it is not a wise gamble... open a scotrade account you will do a lot better in the end.

 

[Anthony1971]

Good job! We think OKW is the best DVC property of all. I always wish the others had the same room layout.

If BLT had the same layout would you stay there?

 

[bom_noite]

If BLT had the same layout would you stay there?

If BLT had the same layouts it would be in the Lake!