Resale or not to resale that is the Question

[sgtpet]

What would you value a BWV resale at? Note that it has 200 points and has half 100 points left that have to be used in 4 months.


How about for OKW?

It seems that the general DVC Crowd favors the BWV and OKW over WLV?


Just curious.

 

[JonHM]

I get the same impression as you, but I think really that most DIS DVC-ers tend to talk up their own home resort as their favorite, and a) there are a LOT more OKW owners than either BWV or VWL, and since BWV is sold out and VWL is not, there are more BWV owners on the board here than VWL owners. I haven't actually heard anyone complain about the other DVC resorts (except those OKW people who say that everything else is just small, small, small ), but I really do think that most people tend to express a preference for their home resort.

The one downside to remember of buying a resale (besides having to pay closing costs), when there are points that need to be used relatively soon, is that you CAN'T make reservations to use them UNTIL CLOSE is complete. That means that you may have an *extremely* small window of time to work with, depending on the timing.

There do appear to be some fantastic benefits to buying a resale, notably being able to get ownership in OKW or BWV - you should be able to get an OKW resale for cheaper than a BWV resale - BWV seems to be VERY hot on the resale market at this point. Not only are they more expensive, they tend to go really fast.

 

[CRobin]

Are you reconsidering, sarge?

One reseller is listing OKW 200 points @ $ 70 per point. Sale is pending, but you don't know if the seller got his price or not.

I have purchased two resales, and, while many will maintain that you need to pay careful consideration to points banked / borrowed / used up in formulating your offer, I didn't. I didn't try and throw in a lowball quote, but I didn't offer the asking price either.

It really depends on how bad you want the points. If you wait for months to see a BWV resale pop up at $ 70, quote $ 65, and find out he got his price (or maybe a buck or two less), you ask yourself if the $1000 difference (assuming 200 points) was worth it over 42 years.

$25 per year more to pay for 42 years to have 11 month window at BWV? Gladly.

All in what a willing seller and buyer are able to agree upon.

 

[sgtpet]

I am allowed to be a positive poster on this board, right?

I think this is an appropriate question to the fine owners in the DVC. And yes, CRobin, if the price was right, I would potentially reconsider.

Would love to hear your opinions.

 

[wdwendyd]

I agree with JonHM about you having a hard time using that 100 points before they expire. We made two resale purchases lately. The first one took 5 weeks to close and another week to get on the DVC computer. This second one looks like it will take even longer (The sellers keep taking their time getting their paperwork turned in. Also, find out if they have to pay off financing as that takes extra time as well.) That means you would possibly only have November and December to book for and they are very popular times. You probably could use them for other WDW resorts, though. It's not as good a way to use points but better than losing them!

 

[castleri]

Could the present owner make reservations for the new owner before the deal was closed if the agreement and paperwork was made and there was the right level of trust? That would allow for a bigger window of opportunity.

 

[JonHM]

I asked that question earlier today, and Doc said no, that that used to be possible, but not for a while now.

http://www.disboards.com/forums/showthread.php?s=&threadid=83480

 

[Dean]

Originally posted by castleri
Could the present owner make reservations for the new owner before the deal was closed if the agreement and paperwork was made and there was the right level of trust? That would allow for a bigger window of opportunity.

Yes you can post including positives and negatives as far as I'm concerned. I think some of us got a little miffed at the way you posted and kept posting. But then who am I to scold someone for beating a dead horse, LOL.

DVC is not for everyone and it may or may not be for you. I'd hate to see you miss out on something that would be great for you and your family but we don't want you to be unhappy with your purchase. You have a unique oportunity, one which many of us didn't. You have the chance to plan the details of your possible ownership armed with a great deal of info. Far more than the guides will ever be able to tell you and from an honest standpoint. True, it might be biased but it's not dishonest.

Apparently DVC now cancels all pending reservations with resales so the seller can't make reservations for the buyer or so I've been told.

 

[Tiggeriffic]

You might be able to have the current owner bank the points. Four to Six months out is the 50% banking window. So, depending upon whether the four month window has actually been hit or not, this might work for you.

Another option is to use this as a bargaining chip. Have the owner reduce the cost by $10 for each point that won't get banked. If the current owner wants to try to recover this cost, he can try to rent those points out.

Good luck!

 

[sgtpet]

These are great thoughts. My question was of a hypothetical scenario.

Thanks for your commentary. I will see how it goes.

 

[Granny]

I just can't let your last question go unanswered.

JonHM put the right perspective on why you may hear more ravings about one DVC resort than another.

The point is especially true since most have adhered to the "buy where you want to stay" adage. So of course most are pre-disposed to love their home DVC the most.

I think one of the beautiful things about DVC is that you can go to Orlando every year and really get a different feel by staying at the various DVC homes.

But please don't ever think that the VWL homies don't love their home! We are smaller in number but just as passionate.

 

[DVCajun]

I was going to say the same thing, Granny! Of course we all love our home resort the best because we chose it above all the others!

So, keep that in mind when you read this comment:

BWV is a very very popular resale because there are so few available. I understand that a recent BWV resale sold for $75 a point. And there are plenty of current owners who are waiting to buy more points at their favorite resort too.

I have even heard of current owners being approached by timeshare "realtors" trying to get them to sell their points. That hasn't happened to me yet-- but they'd get the same answer they've gotton from the others who told us about it: NO WAY!

Good luck-- keep us posted on what you learn!

 

[JonHM]

Here's a quick (really, REALLY quick) and dirty breakdown of the the 3:

OKW - Peace and Quiet, LARGE rooms, home-like feel, on golf course, can park outside your door, easy access to Downtown Disney.

VWL - Peace and Quiet, smaller rooms (same as BWV), more hotel-like feel, excellent theming in Pacific Northwest/Disney style, borders forest and lake, easy access to Magic Kingdom.

BWV - Center of the action, more hotel-like feel, easy access to both EPCOT and MGM and LOTS of stuff on/near the Boardwalk, smaller rooms (same as VWL). Currently hardest resort to book, most in demand.

I'm sure that I left LOTS of stuff out, was just trying to summarize differences if you only had a few lines to describe each. What would you guys add/take away from the descriptions? Do you think they're fair? If I wind up getting flamed too much, I'll probably just erase the post...

Also, sgtpet, all three are supposed to be really fantastic, each in their own way. You will hear people talking up their own home resort, of course, but other than OKW people complaining about the size of the other resorts' rooms , I've hardly heard anyone complain significantly about any of the 3.