Why are people dumping Vero Beach contracts?

[FutureWasYesterday]

I have never had the pleasure of visiting Vero Beach, but it seems as though you can almost "name your price" to pick up one of these contracts on the resale market. Why is this? Are the original owners unhappy with the resort itself or do you think it has something to do with the 7 month window? Neither of these really should matter that much when you think about it because Im sure there are many owners who didnt get their first choice of home resorts. Most people who fit into this category do just fine with the wait list as well ...

I cant see maintenance fees really mattering, even the extra buck per pt. vs. the cheapest dues (OKW) only amounts to $150 per year for the initial contract (and presumably if you have a ton more points you can prob. afford the extra few bucks for maintenance)...

So whats up with Vero?

 

[dianeschlicht]

I was wondering about that too. I suspect it might have something to do with all the folks who bought into VB when there was nothing for sale on-site, and they really wanted to only use the points at WDW. Now they can sell VB and buy SSR and get an extra 12 years to boot.

 

[goofy4dvc]

I can't speak for everyone else, but if I begin to have problems getting a ressie in the 7-month window, mine will be up for sale also.

Our guide assured us there would be no problem getting ressies at WDW during the times we wanted to visit (anytime except summers, spring break, etc.). At that time, I didn't know any better and VB was all that was for sale at the time so we purchased 150 points. Then we found out 150 points wasn't enough, so we bought 100 BCV points when they became available, then we bought another 100 points at VWL. So hopefully the 200 on-property points will keep us from having a problem. Plus, if we sold the points, it would cost quite a bit more to purchase somewhere else. There was quite a discount to purchase them.

We stayed at VB once and will stay there again. It's a nice resort, but not alot to do there. Of course, there's times when that's a good thing. Most of our trips will be to WDW, but there will be times we'll go to VB or trade for somewhere else.

 

[dianeschlicht]

Mona, your situation is exactly what I was talking about. I think lots of folks are in that same boat.

 

[FLYNZ4]

I also would not be surprised if people were not really "dumping" VB. I would think there is less demand for VB, so when people do decide to sell, the contracts sit there longer... so it appears that more are selling.

/Jim

 

[Dean]

VB, and to a certain extent HH, have ALWAYS been more available and for a lower price than WDW contracts. That's true even though both are smaller resorts with less overall contracts than all except VWL. I'm sure the issue has many factors. These include that members bought a while ago in many cases and can sell for less and still do OK. I'd also bet that the higher dues do affect many of the members, if only emotionally. Remember that most VB contracts were supplemented so the dues went up a lot a few years ago. I'd also expect many of the members are experiencing problems with booking a WDW and HH summer. Face it, VB is worth somewaht less in many ways.

 

[rocketriter]

I doubt if there's anything "wrong" with HH or VB. On the contrary, by all reports they're both wonderfully designed and operated. They're simply not on the WDW property, so it's more difficult for Disney to prop up their prices compared to the rest of the timeshare market.

 

[PamOKW]

Originally posted by FLYNZ4
I also would not be surprised if people were not really "dumping" VB. I would think there is less demand for VB, so when people do decide to sell, the contracts sit there longer... so it appears that more are selling.

/Jim

I think this is what we're seeing on the resale boards. Vero tends to "backlog" since the contracts take longer to sell. In the grand scheme of things, there are still a very minimal amount of Vero contracts on the market. I don't think there's any mass exodus happening -- just the normal churn due to divorce, changed finances and estate settlements.

On the Timeshare Store site there are a little over 3,000 points available -- heck some of the folks on this board own almost that many points themselves.

 

[Candace]

What do y'all think the absolute lowest price per point Vero could go for?

 

[JeffPort]

Our VB contract for $64 per point with no current year dues reimbursement, but buyer paying closing costs (total cost would have been $68 per point) didn't make it through ROFR back in May. However, contracts for just a few dollars more per point seem to get through without any problems.

 

[jaysue]

I think some VB contracts have gone through in the low $60's - DVC does not really seem too interested in exercising ROFR on VB contracts - we think it is a great resort especially for the kids and also to get an ocean front vacation close to both WDW and our parents condo in Ft Lauderdale (they are inland)

thanks
jaysue

 

[mikesmom]

We are owners at both OKW and BWV, but have stayed at Vero once. Frankly, if we had any unallocated disposable income right now, I would be snatching up one of those resales! It's a beautiful resort and extremely relaxing. We loved our stay there and have been disappointed a couple of times when there was no availability to add a couple of days before our WDW vacations.

 

[ez]

at bwv 4 years ago, they had some kind of extra incentive to buy at vero, some extra magic beginnings bonus. They were almost borderline pushy about it, and did promise that you would absolutely never have a problem staying onsite. Fortunately I had already done alot of research on these boards, and knew the golden rule of buy where you want to stay, and thats what I did. But I could see where some people at that time bought there when they really had no intention of staying there ever.

 

[Dean]

Originally posted by ez
at bwv 4 years ago, they had some kind of extra incentive to buy at vero, some extra magic beginnings bonus. They were almost borderline pushy about it, and did promise that you would absolutely never have a problem staying onsite. Fortunately I had already done alot of research on these boards, and knew the golden rule of buy where you want to stay, and thats what I did. But I could see where some people at that time bought there when they really had no intention of staying there ever.

It was the Magical Beginnings where you RENTED your points back to DVD in return for $15 per point.

 

[baileybrad]

I see where HH creeped into this thread. Is something similar going on with HH DVC? Other than the fact that both of these properties are outside of WDW there seems to be very different circumstances surrounding them. HH has a shorter season making the 11 month window much more important than VB. HH is surrounded by tons of great dining. VB is much easier to do a WDW combo trip if one is flying. Again are HH contracts being "dumped"? The many HH owners that I have spoken with think that it is the best kept secret in the DVC.

 

[Dean]

Originally posted by baileybrad
I see where HH creeped into this thread. Is something similar going on with HH DVC? Other than the fact that both of these properties are outside of WDW there seems to be very different circumstances surrounding them. HH has a shorter season making the 11 month window much more important than VB. HH is surrounded by tons of great dining. VB is much easier to do a WDW combo trip if one is flying. Again are HH contracts being "dumped"? The many HH owners that I have spoken with think that it is the best kept secret in the DVC.

HH and VB have always been cheaper resale than the rest. Even through DVC, both were usually cheaper. Both are great properties but are more of a specialty purchase than the on property options. And at least HH has somewhat lower dues, (if one can use those terms with DVC) unlike VB. VB is a little larger than HH so there will be more resales available in all propbability.

On a side note, one who wanted to go to HH and DVC HH truly off season could easily do so very cheaply through II.

 

[PamOKW]

While Vero has slightly more Vacation Homes than HHI (175 vs. 102) 112 of those are Inn Rooms and 6 are Beach Cottages. The number of 1/2 bedrooms available is pretty tight.

I don't think either of these resorts are being "dumped". I also haven't heard anyone who has been disappointed in using their points at WDW. Of course the safest thing to do is "buy where you want to stay" but if you are open to any WDW resort, possibly with a variety of room choices, you stand a good chance of getting a trip to WDW when you want it.

 

[CarolAnnC]

I own 200 Vero Beach points and have no intention of selling them. I purchased them at a great price about 3 years ago and I often use them for my Disney cruises.

One of the best trips ever though was when we rented the Vero Beach House, their version of the Grand Villa. It was absolutely fabulous and I hope to do it again one day.

 

[thegoods]

When we bought VB in 98, we too were told that we would have no problem in using our points in WDW. We were not so naïve to believe that during peak periods we could get into a WDW DVC resort. We did buy VB so we could travel to WDW, however, that was not the primary reason we bought VB. We knew to buy where we wanted to stay. We bought the bulk of our points at VB because we knew our personal travel habits would change in the future when our DS was out of the house (counting the years now!). We enjoy VB and we can picture many wonderful visits with friends in the future and without kids.

Frankly, I think the off site properties will become much more in demand as increasing numbers of DVC Orlando members make the "rounds" through WDW DVC properties. Some of them will start to look for something different every couple of years or so. We all know that DVC is best not to trade through II (in most cases), so HHI and VB remain the best non-WDW alternatives for DVC members.

My family bought a small OKW contract as well to cover that must do, spring break trip, every two years. Now, if the finances (my wife) would only cooperate, I would be snatching up one those “cheap” VB contracts, higher dues and all.

 

[TinksDH]

We purchased 250 VB points in 2001 and an additional 50 in 2004. We have stayed at WDW 3 times since 2001 and have NEVER had a problem in getting what we want at WDW. The key is sbeing flexible - 1 time at OKW, another at BWV, still another at BCV/VWL. So far we have encountered no porblems in getting what we want when we want at WDW with a 7 month booking window. And we can get the Beach Cottage at VB when we want too.

This logic drove our recent resale purchase of 150 points at HH.