SSR resales?

[pinnocchiosdad]

I have posted this question before, but still do not understand the reasoning. Next to AKV, SSR is the newest DVC property. So why are there so many low priced resales at this resort. TTS lists in its inventory many properties selling in the low $70's. I can understand that due to financial resons some people may have to sell there interest, but why so many SSR listings and why so cheap?

 

[WALTSAGOD]

Basic economics 101, supply and demand. SSR is affected the same way that BCV and VWL are.

 

[Chuck S]

Since the number of overall owners is higher, that would account for some higher numbers in resales.

Also the general economy, AND the fact that SSR is one of the newer resorts.

Most owners at at the other resorts have their memberships fully paid off by now. SSR owners who financed are probably still facing some long term payments. The ownership, in general, will be younger at SSR than at OKW and the 2042 resorts, again probably less stability in the workplace than for older employees. These people may be caught up in the housing downfall, and are having to choose between DVC or a roof over their head...or are already headed into foreclosure/bankruptcy and have to liquidate SSR.

I think it has very little to do with "SSR," and much to do with the current state of the economy. I think any resort that would have opened and sold in the same date range (or if several smaller resorts opened during that time) would all be subject to the same economic forces, and we would see a higher number of resales.

 

[chalee94]

why so many SSR listings

like chuck said, the bad economy probably hit SSR harder than the older resorts, people who were borderline financially but figured "if i spread the cost over 10 years..." and got burned. if more OKW and BWV owners are just paying annual dues, the economic downturn will generally have less of an effect.

to some extent, even if all resort owners were hit equally, there would be more SSR contracts just because it's a larger resort.

JMO, but there may also be some disappointment. SSR may have been marketed to some as "buy here but there are many other DVC resorts so you never have to stay here" - that has worked out for some, but given that the resort was larger and they had to sell to more buyers, i'd suspect it hasn't panned out like that for a lot of timeshare n00bs who figured they could call 3 months out and stay at BWV on a regular basis.

and why so cheap?

like the poster said, supply and demand.

there's a lot of SSR pts out there and, while it's a nice resort on wdw property - i loved it when i stayed there in 2006 - it just doesn't have the draw of being able to walk to epcot or take a boat to the MK...

 

[Vichele]

if these "in the $70.'s" resales are passing ROFR?

anybody know?

thanks!

 

[chalee94]

some are.

http://www.disboards.com/showthread.php?p=26945985

 

[Mouse511]

if these "in the $70.'s" resales are passing ROFR?

anybody know?

thanks!

Ours just passed last week at 74 per point for 150 points......we couldnt pass on a deal like that - we will be closing in a few weeks - we cant wait until we are official members.....!!!

 

[TSMIII]

I think it has very little to do with "SSR," and much to do with the current state of the economy. I think any resort that would have opened and sold in the same date range (or if several smaller resorts opened during that time) would all be subject to the same economic forces, and we would see a higher number of resales.

Chuck S - I think you're right on the money (no pun intended) with this. Witness the increasing number of AKV resales appearing.
Of course some of the AKV traffic could also be people who got the developer points incentive and have burned through those, as well as current and future points, and are now unloading the stripped contract having never intended to keep it long term.

 

[jdg345]

Chuck S - I think you're right on the money (no pun intended) with this. Witness the increasing number of AKV resales appearing.
Of course some of the AKV traffic could also be people who got the developer points incentive and have burned through those, as well as current and future points, and are now unloading the stripped contract having never intended to keep it long term.

I think this is an issue as well ... with the larger and larger incentives, it might be worthwhile for some to take the incentives, use up (or rent?) their available point alotments and then sell the contract. With some of the promotions, it was possible to get SSR for the high $80's if I remember correctly. Losing a few dollars per point is still cheaper than paying for rented points (at $10-11/ea), plus you get the incentives.