Buying any resort just to stay at that resort means you really need to look at point charts.
Ah, gotcha. Sorry I read that wrong. I don’t have experience renting points out but if you would be able to rent out the 2021 points before they expire (would Disney let you bank them since you’re buying after the bank date?), then I agree that the direct deal is a better option in the long-run.
They will bank for you when you buy direct.
I've tried explaining this to brokers when sellers rejected my offers in the $100-115/pt range for contracts in the 200-250pt range that are going direct for mid $160-170s/pt with the current incentives). Granted, some sellers are underwater and can't go below the 140-160/pt that they're listing on the market but they have to know that informed folks won't be buying contracts that high.
I never knew that, thank you!
Can I ask who you sold with?
No, sorry I can't say!
They’ll just wait for a uninformed buyer.
To clarify, If you buy resale at RIV and that's your only contract then you are only staying at RIV and 100 points will not get you very far especially with borrowing at 50%. You can put your own figures in table below as I did this about 9 months ago but it kind of explains what I mean.
Great chart!
Absolutely true, no one is a match for our brains. Let me put it this way-have you ever heard of Plato? Aristotle? Socrates?
...Morons.
The Dec UY sellers haven't gotten the message. Some of the 200+ pt contracts are still at the 145-155 range. Many of which don't have banked points, one just came on the market without any points until 2023 at $145/pt! For 10-20 dollars more per point you can get 2021 points, blue card, and most importantly unrestricted points. Rent out the 2021 points and you have the same price as resale!
Still learning but I see possibilities.Those of us on disboards are thoughtful buyers and sellers IMO. We have our own *formulas* and are more likely to wait for what we want and withstand the rigors of resale, sometimes repeatedly to get what we want.
I doubt most sellers think about their contracts competing with other sellers, other brokers or realize there is an educated audience waiting to pounce on a deal. They just want to sell. I try to put a listing out when there isn't much competition for the UY and/or contract size. Out of our last four contracts sold, I think all were u/a in 48 hours and DVC bought back three and one is still in ROFR so no worries about buyers backing out in a down economy...it did happen once.
DH and I just had a discussion in the garage (his happy place) about potential deals at the end of the year (collectively 52 years of DVC experience at work). We've been flipping contracts bought cheap early in covid which were loaded, we rented points, used a couple years worth of points and are selling stripped into 2023 with extended closings and at (almost) top of the market prices. We'll take our initial equity, profits and with any luck pick up a few deals...rinse and repeat.
Even if you buy direct Riviera, if and when you decide to sell, you'll be in the same position as these sellers because ownership after you will all be restricted. If a contract is only allowed to be used at one resort, I'm not sure if they're worth anything over $100pp at this point. But I guess worth and value is completely subjective and someone might see value in buying at $140+pp. I really can't wait to see if Poly-2 and VDH will have resale restrictions or not. I hope they don't, and Riviera will be the only DVC resort with these restrictions. That would be weird.
We sent our Poly contract to ROFR on 5/28. The last two days I’ve seen two from 5/26 get cleared. This is our first contract and I’M DYING!!! C’mon ROFR. Release my contract!!!
