Saratoga Springs Goes on Sale

[JLS]

Well, I see your point, Richyams, about renting your points for $10 per point.... BUT, I have spent a lot of time looking at the resales that are available, and many of them are around $72 or $73 per point and there are no points available until 2004 (and you have to pay closing costs). So, I don't see how that is different than buying direct. Of course there are other good deals on resale that have banked points, etc., but many of the "deals" don't seem to be any better than what DVC is offering, and if you need financing you can get it through DVC.

 

[karebear1]

Originally posted by ncligs
Instead of clicking on "post reply"......just click on "quote"........then then that person's post will appear at the top of your reply post. You can then edit or take out the part you don't need for your post.

HA!!! I didn't know that's how you did that! COOL!!! THANKS for the tip!

So- how amny out there are leaning towards purchasing or at least seriously looking into buying into SSR if these rumore are true?

 

[anniet]

I wonder why there seems to be the expectation that Disney should charge A LOT more for this end date, or people would pay a lot more for this end date?
And that Disney should let us extend into that end date at $5 per point?

I know the terms of the original DVC owners was 50 years and when I finally got around to buying it was down to 40 years, but I knew that when I purchased. Historically when timeshares had an end date wasn't it for a number of years determined by when the purchaser purchased the contract?

I know when my Dad purchased his Bermuda timeshare it was for 25 years or 25 weeks whichever came first and he could use up to 4 weeks per year based on availability. He had made friends with a lot of other owners who got the same contract, purchased after him and payed more for it, but I wouldn't say a lot more.

I'm thinking Disney will tell us if we want contracts with end dates of 2054, we should add on at SSR, but I highly doubt we will be given the option of extending our current contracts.

 

[PamOKW]

but I highly doubt we will be given the option of extending our current contracts.

I also doubt they will be selling extensions now. I do think that in the mid-2030's they may offer extensions.


A pretty good incentive is going to be needed for people to purchase in August for a May opening. BCV had a gap of a few months....this is 9 months of ownership with an inability to use the points. Almost a year.

 

[disneyberry]

yikes, i can't believe how soon this is (Aug 4th).
yes, there is going to be a huge gap between presales and opening.

and i thought that they aren't even opening that large a portion of the resort by May '04? just the first stage of construction right?

won't it be slightly unpleasant to stay at SSR when it first opens? because construction will still be going on for the other portions of the resort?

anyway 2054... 2042... eh... not that huge a difference to me. i might feel different about that later in my life, but right now it's not really any incentive for me to add-on at SSR.

as for resales, i imagine BWV, BCV, and VWL will still stay competitive due to their location. i wonder if OKW resales stand a chance of being hurt though.

 

[lrodk]

Originally posted by Vernon:

Why would a guide on the cruise line know the end dates been changed

Vernon, some DVC guides work part time for the DCL(my guide included). With that in mind it is very possible that the information forwarded could have originated from the DVC.

Regards, Luis

 

[CarolA]

You know $89 could be the "presale" price and they could easily have another increase when the place actually opens. (I mean lets assume Spring means April 2004, we are talking 8 months that is plenty of time for Disney to sell some points and then raise the rate another 5 or 10 to reflect the additional 12 years.) I think we may not have the final sale price for villas we can actually occupy yet.

 

[colleen costello]

I also wonder about add-ons. We're on the waitlist for an add-on at OKW, but the price per point keeps going up while I sit on that list. If they want me to pay $89 for OKW points, but those points expire in 40 years instead of 52, that seems kind of silly...

 

[CaptainMidnight]

Originally posted by PamOKW
I also doubt they will be selling extensions now. I do think that in the mid-2030's they may offer extensions.


There is going to need to be some pretty good incentive for people to purchase in August for a May opening. BCV had a gap of a few months....this is 9 months of ownership with an inability to use the points. Almost a year.

Hope your right, we can start saving up for 2030's.

 

[PamOKW]

Originally posted by disneyberry
and i thought that they aren't even opening that large a portion of the resort by May '04? just the first stage of construction right?

won't it be slightly unpleasant to stay at SSR when it first opens? because construction will still be going on for the other portions of the resort?

I wouldn't be too concerned about this. OKW was also built in stages but you never were effected by the construction. The whole "South Point" area was boarded off while construction was done. The wall came down and "voila"!

 

[zulaya]

I still want to know where is the point schedule? I mean, if you know price per point, you have to know how many points for each season. You just have to. Especially if you are opening sales on August 4.

SO if guides are spreading the word about the August 4 opening sales date, WHY won't DVD release the point schedule so people can see what exactly we are dealing with, not just a vague description as somewhere between OKW and BCV.

 

[Buz]

I've done a little Math that I think is interesting.

I bought BVC last year at opening. Price was $75 a point. I had 39 yrs. of use. Approx. cost per point $75/39= $1.92

Currently it $84 per point with 38 yrs. of use. Approx cost per pt. $84/38=$2.21

If SSR opens at $89 a pt. with 50 yrs. of use. (2054-2004=50)
Then approx cost per pt is $89/50=$1.78 SSR will cost less than current resorts. Maybe to make up for location? Maybe they don't think they can sell SSR for what they sold VWL and BVC. Surprise, surprise. It is a way of lowering price without looking like your doing so.

If WDW lets us buy the additional yrs. for our contracts, it would come out to $21.36 per pt. (using SSR price) 12x$1.78

 

[ArnyVee]

I'm not sure what will happen when the SSR stuff finally becomes a reality....but, I do know that my family and I will enjoy the OKW contract that we just sent closing papers back on for about another 39 years!

Let's live today!

Although, I am interested in what will happen with those extra 12 years because of my daughter (and more children in the future?) when I leave the DVC contract to them.

 

[anniet]

Originally posted by ArnyVee
Although, I am interested in what will happen with those extra 12 years because of my daughter (and more children in the future?) when I leave the DVC contract to them.

I really don't think the extra 12 years will be an option for current owners, ever, unless they purchase new contracts.

What if Disney just starts selling all 50 year contracts??? You can figure over the next 39 years a good percentage of us may sell our contracts for whatever reason along with SSR and who knows what other resorts may be added in the future- since Disney owns ROFR, they can buy back our points, extend them to 50 year contracts so when 2030 rolls around it won't matter that they have contracts ending in 2042 because it may be a smaller percentage than we think. I'm thinking Disney may be starting to prepare for the eventuality of our contracts ending in 2042 and they don't want to get stuck holding the ball.

 

[BCVOwner2002]

Wow! Interesting thread. When we attended a member update in June, the guide made a comment that it would end up costing less per point to purchase at SSR. It didn't make sense to me because I was thinking the would sell for less than the current price of $84 but if they are adding years to the contract then the price per point is actually less than what I paid last year. I also thought perhaps the guide meant that it would be less points per night with a point chart similar to OKW. I guess we'll just have to wait and see!! Now how can I convince DH that we should purchase more points??? Annmarie

 

[Geoff_M]

If WDW lets us buy the additional yrs. for our contracts, it would come out to $21.36 per pt. (using SSR price) 12x$1.78

If that were the case, I wouldn't bite. I'll be 78, the Lord willing, when our DVC ownership goes "poof"! If our kids want to belong to DVC... they can buy their own membeships! Besides, we don't have enough points to split three ways to make it worth it for them.

I also don't think that would do a straight-line valuation like that. You'd probably have to look at the net present value of those 12 years down the road.

 

[Dean]

If this ends up being accurate, it will have some major affects on us all. Certainly a later ending date and lower than BCV (etc) points will spur sales somewhat but not enough I suspect. It does increase the likelyhood of another resort or two depending on how sales go. Or maybe they thought they'd have to extend just to sell this resort.

I suspect members will be invited to extend at some point. If I were DVC, I'd wait until sales were almost done for any resorts I intended to provide, then invite extensions. They would need to make it easy enough for most to extend but also worthwhile for them to do so. I guess the question is whether the management contract will provide enough income for Disney to extend for little or nothing. If they charge, and I suspect they will, it would need to be cheap enough that most would do it. I'd say no more than $5-10 pp. Can you imagine the cost of running the system those last 12 years or so with just the one resort remaining.

If they don't extend, it will eventually hurt resales but it will take a while.

 

[anniet]

Originally posted by Dean
If I were DVC, I'd wait until sales were almost done for any resorts I intended to provide, then invite extensions. They would need to make it easy enough for most to extend but also worthwhile for them to do so. I guess the question is whether the management contract will provide enough income for Disney to extend for little or nothing. If they charge, and I suspect they will, it would need to be cheap enough that most would do it. I'd say no more than $5-10 pp. Can you imagine the cost of running the system those last 12 years or so with just the one resort remaining.

That was my point though...wouldn't it be smart for Disney to exercise ROFR on contracts as they are being sold, cycle them back into the system, bump up the price and extend them beyond 2042? If 60,000 contracts expire in 2042 I agree Disney will have to make extensions available at a cheap price. However, if they change the balance so that a far smaller number of contracts expire that year because some people added on to SSR or newer resorts AND they've cycled contracts on the older resorts back into the system, extended the end date and sold them again, wouldn't it make an extension to existing members whose contracts end in 2042 either less likely or more expensive?

 

[Dean]

Originally posted by anniet
That was my point though...wouldn't it be smart for Disney to exercise ROFR on contracts as they are being sold, cycle them back into the system, bump up the price and extend them beyond 2042? If 60,000 contracts expire in 2042 I agree Disney will have to make extensions available at a cheap price. However, if they change the balance so that a far smaller number of contracts expire that year because some people added on to SSR or newer resorts AND they've cycled contracts on the older resorts back into the system, extended the end date and sold them again, wouldn't it make an extension to existing members whose contracts end in 2042 either less likely or more expensive?

They can't just buy back the contracts that expire in 2042 and sell them expiring in 2054. They'd have to offer the extension in one way or another to the entire membereship. What they could do is extend some resorts without extending others but I doubt they'll do that. You can bet that DVC doesn't want the two off sites options back. I also doubt they'd be able to rent out the number of units in DVC for the prices they currently list them for.

Even if one doesn't want the extra 12 years, it will increase the value of the ownership eventually, or at least delay the decline in value.

 

[anniet]

Originally posted by Dean
They can't just buy back the contracts that expire in 2042 and sell them expiring in 2054.

Why not???? Can't they just buy them back, rewrite them and then sell them?

(Not trying to be argumentative, just trying to understand- real estate, contracts and things of that matter are beyond me, just trying to figure it out.)

And I didn't think of the offsite options, Dean, do you think Disney will just sell them outright?