Yes it's true, SSR for $66 a point

[LIFERBABE]

Congratulations and Welcome Home!

Very good deal, but when SSR was selling from DVC with all the incentives, contracts were being net purchased for $62.50 a point, so if you consider that someone paid that and used DVC for 5 years, that is not at all scary

What's scary is my 401K!

 

[oakmanner]

You mean your 201K.

 

[culli]

You mean your 201K.

It is worse than that for me

 

[LIFERBABE]

You mean your 201K.

I think mine is just a "K" now!

 

[carlbarry]

With Disney profits down, isn't the easiest way for them to save some money not to ROFR? If they pick up points, sure, they can resell them--eventually. If they let the points go for a low price, not only don't they have to inventory the points, but they get income from the new owner paying the MF. In other words, if they ROFR, not only are they out the cash until they move inventory, they get no MF. If they don't ROFR, it costs them nothing, and they get the MF. A no brainer for a corporation in these tight times.

 

[BlakeNJ]

Congratulations and welcome home! We love SSR and can't wait to get back there. The grounds are beautiful and it's proximity to DTD is a real draw for us.

If you don't mind me asking, OP or others, who have purchased these fantastic resale deals, was that the listing price or did you negotiate? I have been checking out the TSS lately and haven't seen much below $60 and those have been HHI or VB. My interest would only be adding on at SSR or BCV.

 

[culli]

Congratulations and welcome home! We love SSR and can't wait to get back there. The grounds are beautiful and it's proximity to DTD is a real draw for us.

If you don't mind me asking, OP or others, who have purchased these fantastic resale deals, was that the listing price or did you negotiate? I have been checking out the TSS lately and haven't seen much below $60 and those have been HHI or VB. My interest would only be adding on at SSR or BCV.

I just kept making offers and ignore the ask price. The ask price might be an indicator if they are upside down with a loan or just unrealistic in what they think the can get. Just look for something that fits your need and make an offer.....you can just send an email to the TSS. I had plenty denied but found one that took the offer. I was very happy with what I got and like other have said probably will continue over the next few months or longer.

 

[DVC_Corrys]

I just wanted to make a comment regarding buying from disney when you will lose 50% of the value. I think SSR is a unique case considering it is huge and not as in demand as other resorts. I think most people who bought at BCV and BW didn't see that drop at all. I would also think that a property like Bay Lake wouldn't see a huge drop based on the location, amount of points, etc..

I agree that no one should buy time share for an investment (other than an investment of fun vacations...) you shouldnt assume you are losing out on the deal... it's not like you are buying an American Car!!

 

[cheezNE1]

it's amazing how much a smaller contract are worth more than the bigger ones.
Theres a listing for a HHI 25pt at $80. Thats not bad comapre to $60's on bigger contract.

 

[florep1]

Wow, time to pick up some resales. Got my letter from the mortgage company sayinh our home is paid off. Now to spend that half of that money at Disney.

 

[lugnut33]

Lucky you Flor!

I feel kinda bad I bought a 120 point contract back in July for $80 per point. I should have waited. Oh well.

Somebody should try putting one through at $59 per point and see what happens.

 

[cheezNE1]

Lucky you Flor!

I feel kinda bad I bought a 120 point contract back in July for $80 per point. I should have waited. Oh well.

Somebody should try putting one through at $59 per point and see what happens.

I feel bad i didnt' put mine up for sale last year and now, it doesn't pay for me to sell. It would be too much of a lost.

 

[SARATOGA ROB]

Congratulations and welcome home! We love SSR and can't wait to get back there. The grounds are beautiful and it's proximity to DTD is a real draw for us.

If you don't mind me asking, OP or others, who have purchased these fantastic resale deals, was that the listing price or did you negotiate? I have been checking out the TSS lately and haven't seen much below $60 and those have been HHI or VB. My interest would only be adding on at SSR or BCV.

the asking price was $79 they accepted $68

 

[bobbiwoz]

the asking price was $79 they accepted $68

Wow! I suppose it was on the market for awhile, but congratulations on your purchase!!!

Bbobi

 

[mwmuntz]

the asking price was $79 they accepted $68

Assuming that there was some back and forth on negotiating, may I ask what your initial offer was? I am looking at picking up a contract for SSR, and I don't want to make an initial offer that will get laughed at, but I want to get the best price possible.

 

[smacky1]

Wow, time to pick up some resales. Got my letter from the mortgage company sayinh our home is paid off. Now to spend that half of that money at Disney.

We still have a little over a year left on our home, but if it was paid off, we would be doing the same thing.

 

[calgarygary]

I read an article posted elsewhere about how the bank that financed the DVC side cutting off, or greatly scaling back, the line of credit to DVC. Many speculate this will have a large impact on ROFR'ing so I'm not surprised and rather expect resale to keep going down.

The thread discussing the issue is here, and the story about it is here. Disney lost their credit line for the mortgages on DVC, as I believed at the time, Disney will have to chose between using their limited equity for parks, cruiselines, hotels, DVC, etc and then once DVC gets its share, determine what part of that equity will be used for carrying the mortgage of new sales vs. ROFR. As the economy worsens, expect more and more selling of DVC by people who can no longer afford to visit Orlando and a lowering of rofr base. Personally, I can envision contracts passing in the mid 50's if there isn't a substantial improvement in the economy by fall. If you review how low resales on eBay have dropped for other premium timeshare systems, something dramatic must happen or DVC will experience those same declines.

 

[roadtripper]

While I would love to pick up one of these bargains, I'm more concerned that if Disney doesn't exercise ROFR it affects value for all of us. Not planning on selling, but it was comforting knowing that Disney would prevent fire sale pricing. Let's hope it's temporary!

 

[sarvermo1]

Looking around the resale sights I see the following prices:

AKV $85 BCV $81 BWV $73 HH $55
OKW $61 SSR $67 VB $48 VWL $72

This is the list price, so I would bet you could probably do better. Most of these contracts are with current year points and some have banked points.

 

[culli]

The thread discussing the issue is here, and the story about it is here. Disney lost their credit line for the mortgages on DVC, as I believed at the time, Disney will have to chose between using their limited equity for parks, cruiselines, hotels, DVC, etc and then once DVC gets its share, determine what part of that equity will be used for carrying the mortgage of new sales vs. ROFR. As the economy worsens, expect more and more selling of DVC by people who can no longer afford to visit Orlando and a lowering of rofr base. Personally, I can envision contracts passing in the mid 50's if there isn't a substantial improvement in the economy by fall. If you review how low resales on eBay have dropped for other premium timeshare systems, something dramatic must happen or DVC will experience those same declines.

Will be interesting to see what happens with DVC if that can't ROFR the low contracts. I will be waiting in the bush ready to bounce on some cheap ones if it happens . Look at Wyndham people are pretty much giving their pts away. You wouldn't believe the prices if you buy from the developer. We went to a Wyndham last week and they stop in on "we want your input" visit... hey it was worth $25 and some other odds and ends. The guy didn't try too hard to sell me more points when he asked what I paid for mine. Then I asked and it would cost about $30-40k to get what I got for about $1200 (including closing costs).

Hmmmmmmmmmmmmm think in a year from now we will be talking about getting DVC pts for next to nothing on the resale market? If things get much worse people might be looking to unload them for next to nothing just to get out from the MFs?