Why So Many SSR Sales?

[Mich Mouse]

Just looking at the Time Share Store current DVC listings and the SSR "For Sale" are really disproportionate! There are about a hundred listings...far more than any other DVC...

What's up with that? Buyers Remorse? Our troubled economy? Disappontment in the actual ammenities of the resort?

What I really do not understand is why are there so many at this particular resort and not the others?

 

[chalee94]

here are some responses...

http://www.disboards.com/showthread.php?t=1938429

http://www.disboards.com/showthread.php?t=1904214

 

[Poppins2000]

My guess is because it is currently the largest DVC resort; just seems like there are more for sale here than at the other DVC locales becuase of it's size...

Just a guess anyway....

 

[hakepb]

Better jump on the SSR resales now, before they take a jump due to the new Treehouses!

 

[sullymoscow]

My DH and I are planning on buying a SSR resale but have not visited or seen any actual models yet. Now I am worried that the resale price will go up before we get down there in December. When will the treehouses be done and do you really think the resale price will jump? Has anyone made there initial purchase without actually touring the villas? Thanks

 

[Belle & Ariel]

I'm wondering what they paid and if they are selling at a loss. What did SSR sell for? Were there incentives that would lower the price like now at AKV?

 

[hakepb]

I know there were purchases in the 80's
Subtract a few years use and they (resellers) may be OK

 

[mikesmom]

Here's a theory...

When we bought in about 10 years ago, the price was the price - and there was a minimum. You could either afford it or not. You didn't have to be rich, but you had to be pretty comfortable with your personal budget situation.

Fast forward several years to SSR. Now there were "incentives", dollars off, developer points, gift cards, reduced point buy ins. I'm in marketing and that's something you try never to do, as you setup an expectation for incentives, sale prices, etc and people tend not to buy until they see some kind of deal. Thus the posts "Is this as good as it gets, or should I wait for a better deal?". Sure enough, with AKL there were incentives, deals, etc. With the incentives plus developer points it makes it look like there is a free vacation in your future with the payment for that somewhere down the road.

One result is that (in my opinion) there are more people buying in who maybe shouldn't. I've been on these Boards about 10 years and there are WAY more posts from folks who are trying to s t r e t c h a budget to afford 100 points and to finance, and to figure out if they can afford a monthly payment with the dues on top. Way more posts from people who have a higher interest rate because their credit is shaky, or don't have a regular income. More buying in using a tax refund for down payment or who expect their income to go up in the future. More posts from people who say "we always stay at Values because that is all we can afford, is this cheaper?". It used to be that you looked at the cost and either said "okay, we can do that" or you said "Yikes, we can't afford that kind of money". Now people are tending to say "well, maybe if we stretch...". I'm not making a personal indictment of anyone's personal situation here - it is what it is and everyone needs to make their own decisions about what to spend money on.

That being said, it is often folks on the margin or some kind of financial edge that will get caught when the economy crashes. The expected increase in pay doesn't come through, or there is some unexpected expense and money is tight, or there is a job loss. The "free" vacation with the developers points has been taken and it's time to be paying dues, but you can't take another vacation because air fare is so high. Paying dues for no vacation seems like a waste. When that happens you gotta sell - and I think there are more DVC owners on that financial edge than there used to be. Now that the economy is having issues, those folks are selling.

Just a theory.

 

[jana]

As a total the number of DVC resales is VERY low if you look at either total number of owners or similar products. It's also worth noting they keep their value MUCH better than most other Timeshares

DSSR having more resales than other DVC resorts, IMHO there are a number of reasons, some simple some a little more complicated.

1) DSSR is the biggest DVC resort, numerically you would expect it to have more than other DVCs.

2) More recent buyers are the most likely to still be paying loans, their costs will probably be much higher than members at say OKW,BWV,BCV,WL that have either paid off the "one time fee" or very close to it. Their dues are their only on going costs and for the "average" membership which is about 230-250 points the annual cost of about $1000-1200 is WAY cheaper than the annual cost of renting a similar quality hotel for a week.

3) As Mikesmom said the most recent buyers are likely to have stretched themselves based on current or recent earnings. Those people that purchased 5,7,10 years ago will probably have seen their earnings rise over that time and will likely be less exposed to the economic downturn.

4) Many people that bought 10,15 or more years ago will probably have seen their highest costs (kids and their education) either gone (as kids age and leave home) or they can at least see the light at the end of the tunnel.

5) To a degree I do agree that DSSR maybe lacks that "wow" factor that you get with BCV, VWL, BWV or VAKL. Don't get me wrong it's a beautiful resort but, to me, when compared to the other wonderful DVC resorts I would rank it either bottom or close to bottom ( maybe least good would be a more appropriate notation) on location , on site restaurants and most importantly it's "wow" factor. Most peoples response to driving into DSSR or looking over from DDT tends to be "ooooh that looks very nice" whereas most peoples response to seeing BW, WL, stormaway bay, the lobby and savannah views of AKL ranges from "oh my GOD that is BEAUTIFUL/ASTONISHING/AMAZING?FANTASTIC" to simple wide mouthed silent jaw dropping awe. Most people like DSSR, people fall in love with VAKL,BCV,OKW,BW,WL. People will go that extra mile to find the extra money for something they love, they'll sacrifice something they like.


Buyers remorse? maybe but IMHO very few people regret buying DVC, if anything the longer people own and the better they understand it, the more they see what a great use of their vacation dollars it is.

 

[MARY-IN-OH]

Here's a theory...

When we bought in about 10 years ago, the price was the price - and there was a minimum. You could either afford it or not. You didn't have to be rich, but you had to be pretty comfortable with your personal budget situation.

Fast forward several years to SSR. Now there were "incentives", dollars off, developer points, gift cards, reduced point buy ins. I'm in marketing and that's something you try never to do, as you setup an expectation for incentives, sale prices, etc and people tend not to buy until they see some kind of deal. Thus the posts "Is this as good as it gets, or should I wait for a better deal?". Sure enough, with AKL there were incentives, deals, etc. With the incentives plus developer points it makes it look like there is a free vacation in your future with the payment for that somewhere down the road.

One result is that (in my opinion) there are more people buying in who maybe shouldn't. I've been on these Boards about 10 years and there are WAY more posts from folks who are trying to s t r e t c h a budget to afford 100 points and to finance, and to figure out if they can afford a monthly payment with the dues on top. Way more posts from people who have a higher interest rate because their credit is shaky, or don't have a regular income. More buying in using a tax refund for down payment or who expect their income to go up in the future. More posts from people who say "we always stay at Values because that is all we can afford, is this cheaper?". It used to be that you looked at the cost and either said "okay, we can do that" or you said "Yikes, we can't afford that kind of money". Now people are tending to say "well, maybe if we stretch...". I'm not making a personal indictment of anyone's personal situation here - it is what it is and everyone needs to make their own decisions about what to spend money on.

That being said, it is often folks on the margin or some kind of financial edge that will get caught when the economy crashes. The expected increase in pay doesn't come through, or there is some unexpected expense and money is tight, or there is a job loss. The "free" vacation with the developers points has been taken and it's time to be paying dues, but you can't take another vacation because air fare is so high. Paying dues for no vacation seems like a waste. When that happens you gotta sell - and I think there are more DVC owners on that financial edge than there used to be. Now that the economy is having issues, those folks are selling.

Just a theory.

Mikesmom, Very well said. I have rented DVC points with split value stays, but I want to own DVC. I am glad I read your post, because emotionally I want to buy DVC right now! So far, I have resisted until I have a couple of debts paid off, and I am currently putting away savings to have at least half or more in cash so that if I do finance, it can be a short loan time (like twelve months). Kids are grown, and I have three grandkids now, and I am looking forward to the flexibility to have bigger family trips, and some adult only trips. I'll get there, but must have patience!!!
Thank you for your post.
-mary

 

[MILLZ]

The Horse Is Dead Already

 

[Anthony1971]

Here's a theory...

When we bought in about 10 years ago, the price was the price - and there was a minimum. You could either afford it or not. You didn't have to be rich, but you had to be pretty comfortable with your personal budget situation.

Fast forward several years to SSR. Now there were "incentives", dollars off, developer points, gift cards, reduced point buy ins. I'm in marketing and that's something you try never to do, as you setup an expectation for incentives, sale prices, etc and people tend not to buy until they see some kind of deal. Thus the posts "Is this as good as it gets, or should I wait for a better deal?". Sure enough, with AKL there were incentives, deals, etc. With the incentives plus developer points it makes it look like there is a free vacation in your future with the payment for that somewhere down the road.

One result is that (in my opinion) there are more people buying in who maybe shouldn't. I've been on these Boards about 10 years and there are WAY more posts from folks who are trying to s t r e t c h a budget to afford 100 points and to finance, and to figure out if they can afford a monthly payment with the dues on top. Way more posts from people who have a higher interest rate because their credit is shaky, or don't have a regular income. More buying in using a tax refund for down payment or who expect their income to go up in the future. More posts from people who say "we always stay at Values because that is all we can afford, is this cheaper?". It used to be that you looked at the cost and either said "okay, we can do that" or you said "Yikes, we can't afford that kind of money". Now people are tending to say "well, maybe if we stretch...". I'm not making a personal indictment of anyone's personal situation here - it is what it is and everyone needs to make their own decisions about what to spend money on.

That being said, it is often folks on the margin or some kind of financial edge that will get caught when the economy crashes. The expected increase in pay doesn't come through, or there is some unexpected expense and money is tight, or there is a job loss. The "free" vacation with the developers points has been taken and it's time to be paying dues, but you can't take another vacation because air fare is so high. Paying dues for no vacation seems like a waste. When that happens you gotta sell - and I think there are more DVC owners on that financial edge than there used to be. Now that the economy is having issues, those folks are selling.

Just a theory.

Although your thoughts are correct!!!
It is not only that people are thinking this way becuase of their means it is what they are being told by real estate agents, banks, mortgage brokers etc.....which confirms they can afford something they can not.
Yes the only person who can decide in the end if he/she can afford something is the one signing...
My brother said to me when he bought his house his Mortgage was based on his income,savings and future earning potential.... he is fine is making more money and bought his house 7 years ago
Many people today however are making less which was never part of any equation.
As I said the buyer should be informed enough about himself to know if he can afford whatever is being signed for.