DVC resale prices affected by the current situation ?

[Club Cooloholic]

I am admittedly looking at maybe purchasing this Fall. It's basically been a back-burner plan for the last year and a half and fortuitously is aligning with a looming bottoming.

Apart from VGC, I keep swinging back to is there any real point in looking beyond SSR contracts? I know the booking advantage. But it really comes down to is that actually important when I'm flexible, looking at off-seasons, like the idea of split-stays and frankly think SSR is actually kind of nice?

Poly would be great, even VGF, but everywhere else has at least a dollar lead on maintenance fees and that really destroys any value. But then I think SSR is quickly headed to 80$, a giant contract just sold for 76$. So that again is putting it 40$+ below any similar maintenance fee'd resorts.

Prices are good there now, so I say go for it. If you are flexible you can make it work, we just got 4 nights at a one bedroom at the BWV Thanksgiving week(not Thanksgiving day and after, that we did at out home resort).
Also, SSR is redoing rooms, and they really are nice looking and tempting, especially the one bedrooms.

 

[Phonedave]

Keep in mind that if this goes on too long, there may not be enough room-nights available to accommodate all the outstanding points. I don’t see much availability in September - November, which is normally one of the slowest times of the year.

Imagine if one of the DVC resorts, for example, CCV, had a major fire which closed it down for several years. What value would you give the 500 points you purchased last year. How about resale contracts at Riviera. With no place else to go, what value would they have if the building had to close for some reason?

To be honest, this is a risk that I gave no thought to when I purchased. Are we insured for this type of Force Majeure loss in our common HA insurance? Perhaps DVC elected to “self insure” for this type of loss as many large companies do. With that being said, I have to admire the way DVC seems to be handling this. But it would be very helpful, if all of the risk in this situation were transparently being disclosed, so we could all figure out our potential liability and who will bare the risk. Would you purchase a home without some insurance or, at a minimum, understanding the value of your potential losses?

What makes it different is there really is not physical permanent loss here. With a fire, flood, storm, etc there is a loss and corresponding insurance payout. You had a building that was insured for $5M and now it is a pile of rubble, here is you $5M. In this case we (or DVC) still has the physical building - there is absolutely nothing wrong with it. IT's kind of like having a car with payments, and then you loose your license and can't drive it for 6 months. What do you do? You can't file a claim, you don't want to sell it because you wan't to use it when you get your licenses back, you can't stop payments to the bank - they dont care that you lost your license, all they care is that you still have a car.

I know that when I bought into DVC I thought about a lot of situations. This one, where all properties are 100% closed for an indeterminate period of time, with no physical damage to the property never crossed my mind.

 

[seascape]

What makes it different is there really is not physical permanent loss here. With a fire, flood, storm, etc there is a loss and corresponding insurance payout. You had a building that was insured for $5M and now it is a pile of rubble, here is you $5M. In this case we (or DVC) still has the physical building - there is absolutely nothing wrong with it. IT's kind of like having a car with payments, and then you loose your license and can't drive it for 6 months. What do you do? You can't file a claim, you don't want to sell it because you wan't to use it when you get your licenses back, you can't stop payments to the bank - they dont care that you lost your license, all they care is that you still have a car.

I know that when I bought into DVC I thought about a lot of situations. This one, where all properties are 100% closed for an indeterminate period of time, with no physical damage to the property never crossed my mind.

I am very happy with my DVC ownership. I own 425 points at 4 different resorts. As long as I can go in September and November, I will not lose any points this year. I had a reservation in April, cancelled and banked the points because I also had to cancel a trip to Manhattan and needed to use those ponts, Wyndham, so I booked a June trip to WDW but staying at Wyndham Bonnet Creek. I found Wyndham was a great addition to DVC. as they have resorts I really enjoy in Newport RI, Manhattan, New Orleans and elsewhere. In fact when I finally visit Disneyland I will probably stay at a Wyndham because DVC is way to hard to book there. But getting back to DVC and Covid19, what could Disney do? I know I will have to book at 11 months or risk losing points and it will be hard but I will do what I have to and if I lose some points because of Covid19 so be it. I accept that with the view that I am healthy and it's only money that I can actually afford and that others have a bigger problems, so I have bo right to complain.

 

[Phonedave]

I accept that with the view that I am healthy and it's only money that I can actually afford and that others have a bigger problems, so I have bo right to complain.

That is pretty much the boat I am in as well.

Trust me, I don't want start burning stacks of cash, but we are not hurting here. My wife and I are still both working, nobody is sick, and we have whatever food / supplies we need. Others are way worse off.

We have some points that we banked from 2019 that we have on a Hilton Head reservation in late June. If we have to cancel that, so be it. It looks like we would get those 2019 points moved forward, but if it ends up we cant use them and I loose them, then so be it. There are a lot worse things that could happen to us.

 

[Club Cooloholic]

That is pretty much the boat I am in as well.

Trust me, I don't want start burning stacks of cash, but we are not hurting here. My wife and I are still both working, nobody is sick, and we have whatever food / supplies we need. Others are way worse off.

We have some points that we banked from 2019 that we have on a Hilton Head reservation in late June. If we have to cancel that, so be it. It looks like we would get those 2019 points moved forward, but if it ends up we cant use them and I loose them, then so be it. There are a lot worse things that could happen to us.

Where this probably hurts most are people who bought in this year and havent even used it yet. Though I am sure some of those folks that bought in the 90s are still complaining about potentially losing points this year.

 

[seascape]

Where this probably hurts most are people who bought in this year and havent even used it yet. Though I am sure some of those folks that bought in the 90s are still complaining about potentially losing points this year.

I love my DVC ownership but I can definitely see that those who purchased this past year paid too much and losing points will hurt. If I hadn't purchased years ago I most likely would not have purchased today. The price is so high compared to Wyndham Bonnet Creek resale prices and other conveniently located timeshares. The only timeshares I would buy are Marriott, Hilton, or Wyndham. However, Marriott and Hilton are better than Wyndham, but because Wyndham has more locations, including Bonnet Creek, and I own DVC I went with Wyndham.

 

[Club Cooloholic]

I love my DVC ownership but I can definitely see that those who purchased this past year paid too much and losing points will hurt. If I hadn't purchased years ago I most likely would not have purchased today. The price is so high compared to Wyndham Bonnet Creek resale prices and other conveniently located timeshares. The only timeshares I would buy are Marriott, Hilton, or Wyndham. However, Marriott and Hilton are better than Wyndham, but because Wyndham has more locations, including Bonnet Creek, and I own DVC I went with Wyndham.

I bought in about a year and half ago in resale, and long term it will be ok. We took the inlaws on a nice trip last June, and the contract we bought had a ton of points on it that were expiring so we threw them into the RCI and had a great ski trip this past winter in Vail, Co. So pretty happy overall. My neighbor has Marriott and has been pretty happy with it.

 

[Phonedave]

Where this probably hurts most are people who bought in this year and havent even used it yet. Though I am sure some of those folks that bought in the 90s are still complaining about potentially losing points this year.

I have had my membership for years now - I forget how many.

It does hurt a little because when my wife and I went to Food and Wine last year, we purposely went with a studio at SSR to save points so we could bank them and use them for a bigger room in HH this year for our family vacation. If we had knows we would have got a bigger toom and borrowed from 2021 instead. That's the pessimistic way of looking at it.

The positive view is, we still went to F&W, we still have a DVC contract for many more years, and we can still afford to keep it and use it when all of the dust settles.

 

[nickys]

I have had my membership for years now - I forget how many.

It does hurt a little because when my wife and I went to Food and Wine last year, we purposely went with a studio at SSR to save points so we could bank them and use them for a bigger room in HH this year for our family vacation. If we had knows we would have got a bigger toom and borrowed from 2021 instead. That's the pessimistic way of looking at it.

The positive view is, we still went to F&W, we still have a DVC contract for many more years, and we can still afford to keep it and use it when all of the dust settles.

When was / is your HH reservation? I would have thought HH might be able to open once restrictions are lifted.

 

[Phonedave]

When was / is your HH reservation? I would have thought HH might be able to open once restrictions are lifted.

Late June into early July. Time is getting tight.

The other side of the coin is getting there. We have flights booked, be we have to see what happens with that.

 

[cmwade77]

Late June into early July. Time is getting tight.

The other side of the coin is getting there. We have flights booked, be we have to see what happens with that.

Well HH will be open for that at least.

 

[LuvtheGoof]

Well HH will be open for that at least.

All DVC resorts will be open by June 22, and that could make for a very relaxing vacation.

 

[cmwade77]

All DVC resorts will be open by June 22, and that could make for a very relaxing vacation.

Except the Grand Californian and Aulani.

 

[LuvtheGoof]

Except the Grand Californian and Aulani.

Sorry, should have added "WDW". Aulani may be the last to open, as until Hawaii even allows tourists, there is probably not any reason to open it. I think we'll hear something from the county about possibly opening VGC in July.

 

[Phonedave]

Well HH will be open for that at least.

We ended up canceling. Still a little to risky for our tastes (my wife is immune compromised) as well as they re-arranged our flights from NJ to Savannah to include a 5 hour layover in Washington DC. We were able to cancel our DVC reservation and re-book for a late December stay in WDW. We have credits on our flights, just waiting to see how the prices go. before booking.

 

[cmwade77]

We ended up canceling. Still a little to risky for our tastes (my wife is immune compromised) as well as they re-arranged our flights from NJ to Savannah to include a 5 hour layover in Washington DC. We were able to cancel our DVC reservation and re-book for a late December stay in WDW. We have credits on our flights, just waiting to see how the prices go. before booking.

Bummer, wish I would have known before you canceled, depending on the dates, it might have worked for us and we could have worked something out.....LOL. And definitely keep your wife safe and do what you feel comfortable with. For us, given all of the current information available and our personal risk levels, we are the point of being comfortable going while doing some basics like more frequent hand washing, etc.

But everyone is different and has to do what is best for them.

 

[Phonedave]

Bummer, wish I would have known before you canceled, depending on the dates, it might have worked for us and we could have worked something out.....LOL. And definitely keep your wife safe and do what you feel comfortable with. For us, given all of the current information available and our personal risk levels, we are the point of being comfortable going while doing some basics like more frequent hand washing, etc.

But everyone is different and has to do what is best for them.

I hear you.

If it was not for the fact that my wife is quite at risk (asthma and she basically has no immune system - it's a genetic thing) we would likely have gone.

It's really the plane flight that had us concerned, and the long layover just clinched it.

 

[cmwade77]

I hear you.

If it was not for the fact that my wife is quite at risk (asthma and she basically has no immune system - it's a genetic thing) we would likely have gone.

It's really the plane flight that had us concerned, and the long layover just clinched it.

Yeah, we are doing a road trip and it would have fit well depending on dates, such is life

 

[huwar18]

I'm not looking, but I was wondering that given the current shutdown of Disney resorts, will this affect how resale points are priced ?

We just purchased a DVC resale contract at Boulder Ridge and got a decent price. Not sure if it was the shutdown or the Seller’s choice. We paid about 5 dollars less a point. It came out to be about 100 a point and we have points from last year banked and this year.

 

[Club Cooloholic]

We just purchased a DVC resale contract at Boulder Ridge and got a decent price. Not sure if it was the shutdown or the Seller’s choice. We paid about 5 dollars less a point. It came out to be about 100 a point and we have points from last year banked and this year.

Amazing price, congrats.