Not really sure how factual this is, but should they do I would say that current owners would be grandfathered again.
Not really sure how factual this is, but should they do I would say that current owners would be grandfathered again.
Got a newsletter from Mouseowners.com, the info is supposed to be from a owner who was told by her guide. I think it looks like anyone before this hits would still be able to book as before.Just looks to restrict future sales.
If it does happen... would this restriction be placed on people who inherit their points?
I stated something similar in another thread and was told I didn't know what I was talking about. Disney introduced a Home resort for a reason and not just a 7 month first choice. Disney contract is written fo protect themselves and adjust rules to earn themselves a profit.constantly changing rules with no recourse.
Wow, if this is true, then I would think most people would not buy resale. Who wants to be restricted to only one resort? It would also affect current owners who want to sell on the resale market, making it much harder to sell.
Like anything else I do with a salesman, I take their words with a grain of salt. Sure there may have been rumblings, and the guide is covering their behind by not saying this is definitely happening. However, their livelihood depends on people buying DVC from Disney and they are going to do what they can to make that happen. I have heard that most guides get particularly aggressive whenever someone mentions resale (and who can blame them).
Not saying it won't happen at some point, but I just find it hard to believe over some other restrictions. If they were to make this change then it would obviously severely restrict the resale market, which would make it harder for people to get rid of their contracts if they meet an unplanned financial burden. These people would then choose to have to default on a loan or stop paying their dues, which would make Disney take the points back. They probably wouldn't want to be sitting on a ton of inventory at certain resorts.
I'll believe it when I see it.
Legally each resort has its own "Condominium Association." Within the bylaws of each Condominium Association is a clause which allows for trading between associations. In other words, the Saratoga Springs Condo Association allows owners of BoardWalk, Beach Club and others to book at SSR, and vice versa.
Frankly I don't see how it would be legal to limit those trading rights to only owners who meet a certain criteria (i.e. direct purchase of points from Disney.) That trading ability goes to the heart of the DVC product.
It would be far more likely--and legal, IMO--for Disney to change the booking windows such that resale buyers are placed at a disadvantage. In other words, they could change it so that direct buy owners can book their Home at 11 months, resale buyers book their Home at 8 months and all non-Home bookings start 7 months from arrival. That meets the Public Offering Statement commitment to give all owners a one month priority at their Home resort.
All of that said, I doubt that DVC is considering any major changes at this time. Sales have been surprisingly good lately despite the all-time high prices. More resale restrictions could easily backfire, making people more reluctant to buy for fear of plummeting resale values.
These days DVC Guide rumors are on par with bus driver rumors. And the Guide rumors are further tainted by the fact that the Guide is using the "rumor" to try and close a sale.
If the market is soft enough, DVC may not WANT them back, and there is nothing requiring that they take them back.
I don't know if that would make people reluctant to buy - like Monorail Lime wrote, if this new restriction caused prices to drop, I'd be tempted, at the very least, to buy 75-100 points at a different resort, then bank-and-borrow so every three years I could stay at a resort other than SSR without the risk of the 7-month window already being too late.
But it's like weights on a scale - IF the prices dropped because of this new restriction, thus making more people to consider buying resale because they don't mind being restricted to that one resort, would that make the prices high again?
I don't know if that would make people reluctant to buy - like Monorail Lime wrote, if this new restriction caused prices to drop, I'd be tempted, at the very least, to buy 75-100 points at a different resort, then bank-and-borrow so every three years I could stay at a resort other than SSR
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