Vero Beach Subsidized Contracts

[airjay75]

Looking at the listings in foreclosure, I wonder if by the time you pay all the fees you aren’t better off just buying a cheaper contract…

If I understand it correctly, you pay to own it, but then you have to pay the balance of the outstanding dues, interest, fees, etc….

Can disney ROFR a foreclosure?

Good questions. Feels like too many unknown variables for me to take much interest in. And by the time those contracts get to foreclosure, who knows what the back dues are. Seems like too much effort to seriously interest me.

Now if we can just find that cheaper resale contract . . .

 

[VGCgroupie]

Looking at the listings in foreclosure, I wonder if by the time you pay all the fees you aren’t better off just buying a cheaper contract…

If I understand it correctly, you pay to own it, but then you have to pay the balance of the outstanding dues, interest, fees, etc….

Can disney ROFR a foreclosure?

I went down the foreclosure rabbit hole and found deals but they were not as good as I would have thought and not worth the risk.

 

[Cfabar1]

I went down the foreclosure rabbit hole and found deals but they were not as good as I would have thought and not worth the risk.

Which resort?

 

[Girlstar30]

I think its hilarious that I just read your trip report on vb and the amazing time you had and then I click on the purchasing DVC link and the first thread that comes up is @airjay75 inquiring about subsidized contracts

 

[disneylandtour]

Extremely tough to find.... I have been looking for Vero Beach contracts for four years...

I recall two subsidized appearing at DVC RM in that period of time.

I don't recall how they were priced, but they did sell quickly...

The cynic in me makes me think Disney decided pretty quickly to abandon their timeshare off property experiment, likely as a result of the Disneyland Paris cash crunch... I think they were too far along to totally abandon phase two at VB, but I'm not convinced it was serious...

contrast that to Aulani, where they were subsidized as a result of unethical business practices... took longer to be diagnosed...

I think I've seen a grand total of five on the resale market over the years I've been doing this--but also I'm not looking for them.

 

[Cfabar1]

I think I've seen a grand total of five on the resale market over the years I've been doing this--but also I'm not looking for them.

Me too… and they’re hard to find… I’d imagine some brokers wouldn’t even think to ask the question… and you could find out after you bought it “oh wow… this was subsidized”

 

[airjay75]

I think its hilarious that I just read your trip report on vb and the amazing time you had and then I click on the purchasing DVC link and the first thread that comes up is @airjay75 inquiring about subsidized contracts

Yeah, I might be losing it. Haha. I just can't stop thinking about how fun it would be to stay in one of the beach cottages on a regular basis. I should probably be happy sticking with a 1 or 2 BR since they're so easy to get at 7 months, but I just can't stop thinking about it.

 

[Girlstar30]

Yeah, I might be losing it. Haha. I just can't stop thinking about how fun it would be to stay in one of the beach cottages on a regular basis. I should probably be happy sticking with a 1 or 2 BR since they're so easy to get at 7 months, but I just can't stop thinking about it.

Rofr thread post incoming

 

[airjay75]

Me too… and they’re hard to find… I’d imagine some brokers wouldn’t even think to ask the question… and you could find out after you bought it “oh wow… this was subsidized”

I e-mailed brokers at fidelityrealestate.com and dvcstore.com about two listings I was interested in just to confirm they weren't subsidized.

Both agents e-mailed me back and said they are incredibly rare, but would note it on any listing. One said they had been doing this 10-12 years and have yet to touch one.

I think I've concluded that, if I want VB points, I can't hold out for that. There aren't enough years left on the contract to wait for that to come along.

 

[airjay75]

Rofr thread post incoming

I was close today, but no deal . Probably for the best to give me some more time to figure out exactly what I want to do.

 

[Girlstar30]

I was close today, but no deal . Probably for the best to give me some more time to figure out exactly what I want to do.

Does your wife love dvc as much as you do? Does she know youre bidding

 

[airjay75]

Does your wife love dvc as much as you do? Does she know youre bidding

She does! She is not the one focused on the dollars and cents though - pretty much defers to me. We both watched video tours of the beach cottages earlier this week. On one level, she wasn't completely wowed, but on another level, she was like, you know, if you don't buy the points, we'll never do a beach rental like that. When she got home from work tonight, her first question was, hear anything on that VB contract? LOL.

 

[Girlstar30]

She does! She is not the one focused on the dollars and cents though - pretty much defers to me. We both watched video tours of the beach cottages earlier this week. On one level, she wasn't completely wowed, but on another level, she was like, you know, if you don't buy the points, we'll never do a beach rental like that. When she got home from work tonight, her first question was, hear anything on that VB contract? LOL.

Oh wow, youre so lucky, i feel like my wife could care less and just let's me do it She has never asked about the progress of our vdh or most recent ssr contract. I told her that the vdh contract closed and she sounded like she could care less if the latest ssr fell through i feel she wouldnt even know

 

[Girlstar30]

That's what I'm guessing. I do sort of expect DVCRM to get the listing correct, but I wonder whether, similar to AUL contracts, some of the other brokers don't check (or don't know to check). Just sent a couple of e-mails off to 2 listings I have been looking at to confirm whether they are subsidized or non-subsidized.

I think I could get behind paying $40-$50/point for a subsidized contract.



Yeah, that's the tough thing with VB. That low price/point just can't make up for the dues. My only explanation for the current resale prices is that there are enough resale buyers willing to look past the dues and just focus on the cheap buy in price.

Have you been to aulani? Maybe that could be the way to go for your offsite purchase! Longer contract and a good price!

 

[airjay75]

Have you been to aulani? Maybe that could be the way to go for your offsite purchase! Longer contract and a good price!

If it weren't such a long flight from Philly, I'd probably be much more interested in AUL. I cannot imagine flying there with young kids and, even without them, it feels like the time change would be brutal - only worth it for trips of 10+ days. That's what is so nice and appealing about VB to me - so easy to fly to - direct flights to MCO, PBI, FLL are common, short, and cheap and just a short drive to VB. HHI sounds lovely, but flight options are less - driving would be an option, but still pretty long.

 

[Girlstar30]

I mean, that is the thing. I was out on a run this afternoon thinking about all this and I was like, you know, if I want some more points to stay at VB, I should just start throwing out some $80/point offers on SSR. SAP points for VB. It is weird how when you decide you like a resort, you feel this compelling force to actually own points there, but it just doesn't make sense at VB - even if I could somehow get someone to part with a 200 or 300 point contract for $30/point, those dues are just a killer.

I would trying stalking and staying at a beach cottage first. What if its not all that its cracked up to be and then you didnt really need home priority there

 

[Girlstar30]

If it weren't such a long flight from Philly, I'd probably be much more interested in AUL. I cannot imagine flying there with young kids and, even without them, it feels like the time change would be brutal - only worth it for trips of 10+ days. That's what is so nice and appealing about VB to me - so easy to fly to - direct flights to MCO, PBI, FLL are common, short, and cheap and just a short drive to VB. HHI sounds lovely, but fight options are less - driving would be an option, but still pretty long.

I just know im going to want to buy at aul after staying there

 

[airjay75]

I would trying stalking and staying at a beach cottage first. What if its not all that its cracked up to be and then you didnt really need home priority there

That's not a bad thought, and it has occured to me - just how difficult would it be to get one of those using non-VB points. If you're on your game at 7 months, might not be as difficult as one might think. OTOH, there are only 6 of them, and unlike GVs, their points costs are not double the cost of 2 BRs.

 

[Girlstar30]

That's not a bad thought, and it has occured to me - just how difficult would it be to get one of those using non-VB points. If you're on your game at 7 months, might not be as difficult as one might think. OTOH, there are only 6 of them, and unlike GVs, their points costs are not double the cost of 2 BRs.

Even if you could just do a 2 bedroom for a few days and split stay the cottage just to test it out. I know pita but with the higher dues, short contract, probably going to be hard to sell in a few years, Etc I would want to be sure. If you love grand cottage then by all means. Sorry if I am unsolicited

 

[Girlstar30]

I mean, how much would you pay for a 2,100 square foot, 3 BR ocean front beach rental for a week on most beaches? Probably anywhere from $5k-$20k depending on the beach and time of year. And, these would not just be a standalone beach rental - they're located at a resort with resort amenities right outside your door. So, although I don't think they're cheap, I also don't think they're particularly expensive either.

This is so true