SSR going into Pre-Sale Phase again...

[buttrflyksses]

I had posted this in response to an earlier post but thought it deserved its own thread...

We were in SSR last week and I drug my DH to the DVC Welcome Cener because I wanted to do an add-on. Steven told us that starting on 7/31 they would be going into a Pre-Sale phase since all current inventory would be gone by then. All new contracts would be for points that probably wouldn't be available until the fall (which really isn't that far away).

Also starting on 7/31 the interest rate for Disney financing would be increasing.

We added on a 50 point contract . We got an $8 per point discount, no closing costs and 2, 1 day, 1 park adult park tickets with no expiration date. We were even able to get our same use year of December. They had Dec 2005 points still in inventory so they gave us 50 points from Dec 05 (with no maintenance fees to pay!) and then starting this December will be get the additional 50 points. They have waived the banking deadlines for the Dec 05 points they gave us so I can bank all 50 until 2007 even though I am past my May 31st 100% banking deadline.

Yah - now we can stay in a 1br every time we go (gotta love the privacy from the kids!).

 

[bobbiwoz]

Congratulations on your add on and I think the 1 bedroom plans that you have are great!

Bobbi

 

[RobDoc]

Thanks for the report.

The "Pre-Sale Phase" suggests that they will soon have nothing to sell except the buidlings still under construction. While that is contrary to most of the reports/guesses/speculation recently discussed here, it suggests that if true, they are much further along with SSR sales than suspected.

With the original pre-opening sales, there were some good incentives since none of those purchasers got the use of their points until the building they purchased was open for occupancy. This would indicate that those buying thru this "sale" wouldn't get any points until sometime in 2007 (and closing wouldn't occur until that time either). In the past this meant "Developer Points" were part of an incentive program for those interested (there was still a trade off regarding their first points) and no fees would be assessed until after the building officialy opened.

This would also suggest that the resort is nearing 67% of being sold out- since there are 12 buildings already open and only 6 more to be opened. Someone speculated last week about that percentage - but was dismissed (by me) as not including all 18 buildings. That may in fact be accurate if this report is true.

It also suggests that the resort could sell out as early as 2008 based on selling out 12 buildings in less than 3 years (pre-sales began in Sept, 2003 and the resort opened on May 5, 2004) - providing the same sales pace is sustained.

It also suggests that we may soon get an announcement about the next DVC resort - which would need to begin construction soon to be ready for an early 2008 sellout at SSR.

Stay tuned!

 

[buttrflyksses]

Doc,
We actually bought our original 160 SSR points on the first day they were selling SSR in August 2003 and our unit is 1A. And you are correct, We didn't get to use the points until the resort opened in May 2004 (we did go the 2nd week it was open) and thus didn't close until then nor have to start paying for the financing or the maintenance fees until May 2004.

For this 50 point add-on at SSR our unit was 82A. I am not really sure what a "unit" means. Perhaps you could shed some light on this.

Thanks,
Kim

 

[Plutofan]

I heard also that they are currently pre-selling right now. I also heard that they have a good size inventory of points at other DVC resorts including the Beach club. Based upon a conversation it appears that they are exercising ROFR more often now. Makes you wonder if they are pushing SSR sales so that they can make an annoucement on a new DVC.

 

[RobDoc]

Doc,
We actually bought our original 160 SSR points on the first day they were selling SSR in August 2003 and our unit is 1A. And you are correct, We didn't get to use the points until the resort opened in May 2004 (we did go the 2nd week it was open) and thus didn't close until then nor have to start paying for the financing or the maintenance fees until May 2004.

For this 50 point add-on at SSR our unit was 82A. I am not really sure what a "unit" means. Perhaps you could shed some light on this.

Thanks,
Kim

Thanks for the August, 2003 correction!

A "unit" is not necessarily an entire building (although, I think OKW was sold that way). At SSR and all of the other resorts, a "unit" is a group of villas and ownership will be expressed as a percentage (a small percentage ) of a "unit".

DVC_John did a great analysis last spring for sales at SSR and was able to pretty well define the untis at the resort. The report that SSR is now pre-selling the unfinished buildings suggests that they are on pace or ahead of sales projections.

Here is DVC_John's SSR "unit" analysis.

 

[mydogdrew]

I'd be surprised if they were really at 67% sold. Perhaps certain UY's are getting close but I also believe they held back a pool of points for member add-on's. Perhaps they are pre-selling at the buyers option? Just sounds like spin to me. Any new members want to comment on what building/UY they purchased recently? Sold out 18 months from now? If that were really the case we would have news on the next DVC by now, right?

 

[LIFERBABE]

I think that is accurate. Just because we sit around all day and compare the resorts and pick them apart, doesnt mean everyone else does.

There was a time, when the only way you knew about DVC was because you read about it here or your family member told you about it. That is why DVC grew so slowly all these years.

With SSR, DVC started aggressively advertising. We have our own COMMERCIAL on Resort tv! No where in that commercial does it say you can purchase sold out resorts. They don't show you sold out resorts, they show and sell you SSR. Not misleading, but selling what they want to sell. You dont go to McDonalds and they try to sell you KFC? or tell you KFC is down the street.

For many, they like it and they buy it. DVC has grown exponetially over the last 3 years with the sale of SSR.

You should see the number of people on a daily basis that take the tour. It is nonstop! My Guide told me that over half that take the tour purchase. With this last marketing push, I see SSR selling out by Fall 2007. The next DVC will be much more expensive in costs and points. We aint seen nothing yet.

 

[2Princes2Princesses]

I bought in the beginning of June, FEB U/Y, my "unit" is 56A.

I have no idea what this might tell you. But there it is. LoL

 

[momoflizandains]

I spoke with my guide about an hour ago. He stated that they were pre-selling points with an Oct UY and the building wouldn't be available until November 7th. The cost per point is $101 and you get an "extra" allotment of points which cannot be banked and for which you will not be assessed maintenance fees. If you do not want the extra allotment, you can get a $10 per point rebate. There are also closing costs involved which amount to around $200.

 

[Jeremy&Susan]

We just finished buying our SSR contract.

When we put in for the contract we had the choice of Dec with all 05 & 06 points, Feb with 06 points or March with 06 points.

Sounds like a great sales tactic.

Buy now, we are currently selling units not even built yet!!!!

Oh yeah, we still have last years stock on hand if you really want it too.

Just like QVC; HURRY before time runs out!

Seriously, has Disney ever run out of stuff to sell to people with money willing to spend?

 

[dvc_john]

I bought in the beginning of June, FEB U/Y, my "unit" is 56A.

I have no idea what this might tell you. But there it is. LoL

56A is in the first 'Paddocks' building opened.
However, this doesn't really give any indication of how sales are going, as only the first 4 buildings opened were sold in sequence. The next 8 buildings are being sold more randomly (eg some of one building, then another building, then back to the first building, etc.)

It would not surprise me if the first 12 buildings are nearly sold out. Congress Park (the first 4 buildings) sold out in about a year. So selling 12 buildings in a little over 3 years would not be too surprising.

Also, FWIW, Congress Park has approx the same number of points as BCV, and both Congress Park and BCV sold out in 12-13 months.

 

[dvc_john]

Seriously, has Disney ever run out of stuff to sell to people with money willing to spend?

Actually, yes! (for the WDW resorts - excluding HH and VB).

When BCV sold out, they didn't have anything to sell (except ROFR resales), as SSR wasn't to a point where they could pre-sell it.
I believe VWL was the same way. When BWV neared sell-out, there was a buying frenzy, and what little was left sold instantly. VWL wasn't available for sale until sometime later.

 

[Darkside]

Not sure if this helps, but I just bought at SSR. My paperwork says that my real estate interest is in "87B". It seems they are moving quite along.