ROFR Thread July to Sept 2021 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

[krysib]

First time buyer, decided on resale vs direct. Higher price than average listed on this forum but fully loaded contract. The way I calculate, if I am able to rent the two years of banked points, that brings the price down to $150's or so which is average/good pricing right now.

Now the waiting begins.....

Krysib---$175-$23472-125-PVB-Feb-0/20, 125/21, 250/22, 125/23-seller pays MF '21- sent 8/20

 

[DVChris]

First time buyer here on two contracts and we are waiting to hear back on ROFR.

With the news of Genie+ and LL combined with loss of ME, magic bands, etc, I'm starting to read a lot of comments from members thinking about selling some or all of their points, and comments that some have already reached out to their broker to list for sale. In a quick glance this morning, there seems to be an uptick in listings across broker sites in the last day or two.

Is anyone else concerned about how far prices will drop if more and more members decide to sell? I'm wondering if we should cut our losses/deposits to see how this shakes out. Would love to hear thoughts from folks in the same boat

 

[softballmom3]

First time buyer here on two contracts and we are waiting to hear back on ROFR.

With the news of Genie+ and LL combined with loss of ME, magic bands, etc, I'm starting to read a lot of comments from members thinking about selling some or all of their points, and comments that some have already reached out to their broker to list for sale. In a quick glance this morning, there seems to be an uptick in listings across broker sites in the last day or two.

Is anyone else concerned about how far prices will drop if more and more members decide to sell? I'm wondering if we should cut our losses/deposits to see how this shakes out. Would love to hear thoughts from folks in the same boat

I am also waiting on ROFR. The way I feel at this point is I'm ok with what I was paying and things change so much I'm just going to stick with it. I'm in for the long haul this time.

 

[Rush]

First time buyer here on two contracts and we are waiting to hear back on ROFR.

With the news of Genie+ and LL combined with loss of ME, magic bands, etc, I'm starting to read a lot of comments from members thinking about selling some or all of their points, and comments that some have already reached out to their broker to list for sale. In a quick glance this morning, there seems to be an uptick in listings across broker sites in the last day or two.

Is anyone else concerned about how far prices will drop if more and more members decide to sell? I'm wondering if we should cut our losses/deposits to see how this shakes out. Would love to hear thoughts from folks in the same boat

People don’t like change, complaints are getting thrown around, justifiably so, but without knowing too much yet how it will truly affect wait times and/or money needed to be spent to enjoy the parks in a meaningful way, I think it’s too early to make a sell decision just yet, or in your case withdrawal from a deal that would cost you likely thousands of dollars. If the changes causes DVC direct sales to crater, so are cash rooms, if that’s the case you’ll see a very different Genie+ system implemented than what’s been announced. I don’t know what your deposit is, but I imagine you would have to see a fairly large drop in prices to make up for losing that deposit, I’m just not sure we are there yet. Now, if this has you rethinking buying DVC at all, that’s a different discussion than backing out and rebuying at a lower price point.

If someone is now selling based on what little info we have so far, they were already considering selling, and with prices where they are now is a great time to get out. Of course, if too many do that all at once, it’s certain to put downward pressure on prices. How many and how much is anyone’s guess. If I were you I hold tight with my current purchase unless I was still in my 10 day cancellation window.

 

[DVChris]

People don’t like change, complaints are getting thrown around, justifiably so, but without knowing too much yet how it will truly affect wait times and/or money needed to be spent to enjoy the parks in a meaningful way, I think it’s too early to make a sell decision just yet, or in your case withdrawal from a deal that would cost you likely thousands of dollars. If the changes causes DVC direct sales to crater, so are cash rooms, if that’s the case you’ll see a very different Genie+ system implemented than what’s been announced. I don’t know what your deposit is, but I imagine you would have to see a fairly large drop in prices to make up for losing that deposit, I’m just not sure we are there yet. Now, if this has you rethinking buying DVC at all, that’s a different discussion than backing out and rebuying at a lower price point.

If someone is now selling based on what little info we have so far, they were already considering selling, and with prices where they are now is a great time to get out. Of course, if too many do that all at once, it’s certain to put downward pressure on prices. How many and how much is anyone’s guess. If I were you I hold tight with my current purchase unless I was still in my 10 day cancellation window.

We are passed our 10 days window for both contracts - BCV and SSR. Definitely not rethinking DVC, just wanting to be comfortable with our upfront cost to join. At this point, I'm more comfortable with our SSR price of $121 but not as comfortable with our BCV price at $150 (I saw $140 this morning for a smaller points package, although different UY). I agree with and appreciate your comments. We will hold tight for now.

I'm wondering if Genie will impact ROFR in the short term - if there's uncertainty in the market, would Disney pass on more than they would have a few days ago?

 

[ABE4DISNEY]

I'm wondering if Genie will impact ROFR in the short term - if there's uncertainty in the market, would Disney pass on more than they would have a few days ago?

I like the way you are thinking here.

 

[Sunnyore]

I’m feeling the same way many of you guys are.. wondering if prices will fall. But I went ahead and bid and accepted a contract yesterday. Like the broker told me, if I’m okay with the price at the end of the day, then that’s what matter. I also learn from this buying experience that firm prices are not.. firm. I’ll post the details when it gets sent to ROFR.

 

[Ginamarie]

I think it’s important to consider which broker too. They are not all equal. Some list contracts notably higher than others on average

Totally- most of the high pricing comes from the same site.
There’s also one other site that has had an Aulani contract listed at $300/point for a long long time and it always makes me chuckle.

 

[dfan_welcomehomeall_19]

Totally- most of the high pricing comes from the same site.
There’s also one other site that has had an Aulani contract listed at $300/point for a long long time and it always makes me chuckle.

I recently heard on a podcast that site handles 60% of the total resale market and if that’s true while good news for sellers (get top dollar) its bad news for buyers (pay more and materially can impact overall resale listing prices)

and just WOW on that Aulani contract lol

 

[Sandisw]

We are passed our 10 days window for both contracts - BCV and SSR. Definitely not rethinking DVC, just wanting to be comfortable with our upfront cost to join. At this point, I'm more comfortable with our SSR price of $121 but not as comfortable with our BCV price at $150 (I saw $140 this morning for a smaller points package, although different UY). I agree with and appreciate your comments. We will hold tight for now.

I'm wondering if Genie will impact ROFR in the short term - if there's uncertainty in the market, would Disney pass on more than they would have a few days ago?

I do not think Genie and peoples reactions to it will impact ROFR in anyway.

 

[Ginamarie]

I recently heard on a podcast that site handles 60% of the total resale market and if that’s true while good news for sellers (get top dollar) its bad news for buyers (pay more and materially can impact overall resale listing prices)

and just WOW on that Aulani contract lol

60% sounds like wishful thinking to me. They're pretty transparent on how many listings they get into contract each day (appr 10), and while that's pretty good, I'm not sure it represents 60% of the market. However, I think they're basing the number on how many listings they have (and those listings are often cross-posted to other sites), so they may not "make the sale" on all of the contracts they have listed.

In the last 2-3 months, they've created a glut of listings because properties are not selling as fast as they had been. Part of this is that they used this business model of buying some distressed contracts (either through the site or through foreclosures), stripping the points to sell through their rental program and then trying to list the stripped contracts. They overestimated the demand for contracts that had no points for 2 years. Yes, it means no dues need to be paid for awhile, but it's hard to sell a product that you can't use for a year or more. Their other problem has been the pricing- and if you watch, they've been reducing a TON of these listings lately and some of them have been selling after 1-2 price reductions because they finally fall into a price range where someone is willing to pay for them.

I've also seen that site have more "re-listing" properties than any other- meaning parties agree on a price and then either don't sign contracts or the buyer pulls out of the deal before the 10 day waiting period is over. I suspect, and I could be wrong, that some of that is buyer's remorse over the high prices and/or the buyer having found a better deal that they'd rather pursue. Personally, I've bid on contracts through that site, but usually been told my bid is too low. Twice now, they've come back to me a week or two later and asked if I was still interested in the contract because I guess my "low" bid was more attractive than they let on. Unfortunately for them, I'd moved onto other contracts both times.

 

[softballmom3]

60% sounds like wishful thinking to me. They're pretty transparent on how many listings they get into contract each day (appr 10), and while that's pretty good, I'm not sure it represents 60% of the market. However, I think they're basing the number on how many listings they have (and those listings are often cross-posted to other sites), so they may not "make the sale" on all of the contracts they have listed.

In the last 2-3 months, they've created a glut of listings because properties are not selling as fast as they had been. Part of this is that they used this business model of buying some distressed contracts (either through the site or through foreclosures), stripping the points to sell through their rental program and then trying to list the stripped contracts. They overestimated the demand for contracts that had no points for 2 years. Yes, it means no dues need to be paid for awhile, but it's hard to sell a product that you can't use for a year or more. Their other problem has been the pricing- and if you watch, they've been reducing a TON of these listings lately and some of them have been selling after 1-2 price reductions because they finally fall into a price range where someone is willing to pay for them.

I've also seen that site have more "re-listing" properties than any other- meaning parties agree on a price and then either don't sign contracts or the buyer pulls out of the deal before the 10 day waiting period is over. I suspect, and I could be wrong, that some of that is buyer's remorse over the high prices and/or the buyer having found a better deal that they'd rather pursue. Personally, I've bid on contracts through that site, but usually been told my bid is too low. Twice now, they've come back to me a week or two later and asked if I was still interested in the contract because I guess my "low" bid was more attractive than they let on. Unfortunately for them, I'd moved onto other contracts both times.

Sooo the site you're talking about with "relisting" I was offering on one where they got full listing price and was notified they weren't going to accept that and that the seller actually decided to repost at a high PP because they could get more for it. Really irritated me. That should have been done before listing and it also seemed like a bidding war. As in let me know your top offer, then messaging back they received a higher offer and did I want to offer any more. I ended up going elsewhere this time.

 

[Flynn's Gal]

60% sounds like wishful thinking to me. They're pretty transparent on how many listings they get into contract each day (appr 10), and while that's pretty good, I'm not sure it represents 60% of the market. However, I think they're basing the number on how many listings they have (and those listings are often cross-posted to other sites), so they may not "make the sale" on all of the contracts they have listed.

In the last 2-3 months, they've created a glut of listings because properties are not selling as fast as they had been. Part of this is that they used this business model of buying some distressed contracts (either through the site or through foreclosures), stripping the points to sell through their rental program and then trying to list the stripped contracts. They overestimated the demand for contracts that had no points for 2 years. Yes, it means no dues need to be paid for awhile, but it's hard to sell a product that you can't use for a year or more. Their other problem has been the pricing- and if you watch, they've been reducing a TON of these listings lately and some of them have been selling after 1-2 price reductions because they finally fall into a price range where someone is willing to pay for them.

I've also seen that site have more "re-listing" properties than any other- meaning parties agree on a price and then either don't sign contracts or the buyer pulls out of the deal before the 10 day waiting period is over. I suspect, and I could be wrong, that some of that is buyer's remorse over the high prices and/or the buyer having found a better deal that they'd rather pursue. Personally, I've bid on contracts through that site, but usually been told my bid is too low. Twice now, they've come back to me a week or two later and asked if I was still interested in the contract because I guess my "low" bid was more attractive than they let on. Unfortunately for them, I'd moved onto other contracts both times.

Thank you for sharing your observations and opinions. I don't watch the listings enough to notice trends other than obvious price increases or decreases. This information is helpful to consider when I begin actively looking again.

 

[dfan_welcomehomeall_19]

60% sounds like wishful thinking to me. They're pretty transparent on how many listings they get into contract each day (appr 10), and while that's pretty good, I'm not sure it represents 60% of the market. However, I think they're basing the number on how many listings they have (and those listings are often cross-posted to other sites), so they may not "make the sale" on all of the contracts they have listed.

In the last 2-3 months, they've created a glut of listings because properties are not selling as fast as they had been. Part of this is that they used this business model of buying some distressed contracts (either through the site or through foreclosures), stripping the points to sell through their rental program and then trying to list the stripped contracts. They overestimated the demand for contracts that had no points for 2 years. Yes, it means no dues need to be paid for awhile, but it's hard to sell a product that you can't use for a year or more. Their other problem has been the pricing- and if you watch, they've been reducing a TON of these listings lately and some of them have been selling after 1-2 price reductions because they finally fall into a price range where someone is willing to pay for them.

I've also seen that site have more "re-listing" properties than any other- meaning parties agree on a price and then either don't sign contracts or the buyer pulls out of the deal before the 10 day waiting period is over. I suspect, and I could be wrong, that some of that is buyer's remorse over the high prices and/or the buyer having found a better deal that they'd rather pursue. Personally, I've bid on contracts through that site, but usually been told my bid is too low. Twice now, they've come back to me a week or two later and asked if I was still interested in the contract because I guess my "low" bid was more attractive than they let on. Unfortunately for them, I'd moved onto other contracts both times.

This is really insightful and a good observation!

 

[Firework]

Firework---$145-$4526-25-AKV-Sep-0/20, 42/21, 25/22, 25/23- sent 7/20

Still waiting!

 

[MICKIMINI]

Genie's not for us. We'll ignore it and do what we want not what WDW wants us to do. Newbies will never smell the roses - sad. I feel for those kids not seeing and experiencing the tiny details all over the park.

We'll keep DVC and end up using it as a nice place to spend January... We closed on our SSR 50 OCT today so my post isn't totally off base.

 

[andyc83]

Seems like not much movement this week in the ROFR world.

 

[Ginamarie]

Seems like not much movement this week in the ROFR world.

I know! I was hoping we might start seeing decisions on July 20-25 range but radio silence the last couple of days!

 

[jbreen2010]

I know! I was hoping we might start seeing decisions on July 20-25 range but radio silence the last couple of days!

here’s to hoping Monday the floodgates open.

 

[andyc83]

I know! I was hoping we might start seeing decisions on July 20-25 range but radio silence the last couple of days!

Yup, I’m a 7/30 so next week.