15 Year Extension at OKW for $25 per point

[LIFERBABE]

What about the other resorts. I know they will have to do the same for all of them or owners would be screaming bloody murder. what is the excuse for the Beach Club where there is never enough inventory to meet demand.

That is the excuse for BCV

Most will choose to purchase BCV direct over OKW if given the choice and all things equal.

Now OKW will have an extra push with a longer contract expiration over the others in DVCI.

You currently have to waitlist to purchase BWV, BCV and VWL from DVC.

They are sitting on OKW points. The resale market is killing them and they are forced to ROFR or let the contracts go very cheaply compared to what they are currently selling.

So they use OPM (other peoples money) to get out of the fix.

 

[calypso*a*go-go]

My thoughts exactly!

 

[DVCDebb]

Talked to DVC today who just had meeting to inform guides of answers to questions. Told Disney will start selling SSR AKL and OKW now. They will most likey be using ROFR to purchase OKW contracts now. Ask if they would be offering any more points to present members for those that are selling contracts for 2042 and told to wait and see till next month possiblity that may be offering points to current members so can add on if want to. With some extra perk. Nothing set yet but possibility. $96 per point. Seems they don't know all the answers. Since have to have deed made to Disney on the extra years ask when we would get a new deed if we choose to take the extension. Checking on answer.

Another thought will they be raising the points on homes close to the Hospitality House instead of just going like we have since the beginning of first come first serve. Have always stated need for medical reasons. Ressie was made at exactly 11 month window too. Yet last 2 trips things were screwed up and some family members had to come back home as could not get ground floor or elevator building in any DVC resort. Ruined early December trip for sure.

Not decided yet waiting on answers to lots of questions.

 

[rsinj]

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[dianeschlicht]

If that was done, wouldn't they also have to lower points elsewhere somehow?

I think so.

 

[dianeschlicht]

That is the excuse for BCV

Most will choose to purchase BCV direct over OKW if given the choice and all things equal.

Now OKW will have an extra push with a longer contract expiration over the others in DVCI.

You currently have to waitlist to purchase BWV, BCV and VWL from DVC.

They are sitting on OKW points. The resale market is killing them and they are forced to ROFR or let the contracts go very cheaply compared to what they are currently selling.

So they use OPM (other peoples money) to get out of the fix.

I think your assumption is correct.

 

[jemiaule]

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[rsinj]

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[MichelleB]

I'm with jemiaule. It doesn't matter what you paid for your points, DVC is still valuing the extra years at $4. We've decided to sell our OKW (not because of this, but it did help the decision).

 

[jemiaule]

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[rsinj]

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[MichelleB]

No, rsinj, I can't which is why I feel this is a bad deal. They want new members to pay $4 more for the extra years but we who are already members are to pay $15. You honestly don't see the discrepancy here??? And how is this right for those that have actually purchased in the past year or so (just using this time frame for example) directly through DVC at a higher price and now will have to pay $15 when had they only waited they'd have saved money. An example is a poster mentioned they just purchased in July at the $92 per point rate and now receive this. I'd feel completely taken if I were them. Not only did they get hit with new banking rules, a new $95 fee to use pts. at a non-DVC WDW property, but now this.

We are selling our OKW simply because we've never liked the resort (just personal preference so please don't flame) and have rebought where we'd like to have the 11 month window. I will feel the same way when this offer manages to work it's way around to the other resorts (we own at HH, VB, and soon VWL). It's a rip off no matter how you look at it. I will be in my mid-80s when the original contract expires and would like to leave it to my kids, but at the price they want to charge, I'll be adding pts at a different resort to obtain the pts for all the years not just the extended years if I choose to leave them DVC.

I know my views aren't everyone's but I think it's fair to say that MOST of us here feel the extension is an over-priced option.

 

[jemiaule]

Ok, I checked my contract. I bought my OKW points direct from Disney 9 months ago, at $92 per point. (No resale lectures please )

I left my guide a very nice message (honest! ) a few minutes ago letting him know my thoughts on the whole matter. He is working on DCL and won't be back until tomorrow. I will be interested to hear what he has to say.

 

[rsinj]

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[gerrym51]

my wife and i bought in 1993 at 56.00 a point. even so we
have no intention of buying any more or adding 15 yrs. to contract.

we'll probably be deceased in 2042.

sign the extended years over to disney and then forget about it.

gerry

 

[icydog]

If we don't sign the waiver then Disney actually will take possession in 2042? Is that correct? What's changed? I will still have my points to use until then and then who cares.
I agree that owning OKW used to be the best decision I ever made. But with all the new members from SSR using OKW now, it is impossible to get a room in my own resort after 7 months. So I am a dissatisfied customer right now. I had a meeting with my guide on Thurs and told him that his (their) sales technique of selling SSR to folks and telling them they can stay at OKW (in my opinon a far nicer resort) for less points- thereby making my resort less valuable to me as an owner- was a slap in the face me and others that love OKW as our home resort. I guess we, owners at OKW, were spoiled for so many years since nobody wanted to go there. Now we are paying the price the owners at the BCV, the BWV and the VWL have long been paying.
When we sign the contract over to DVC does it affect anything in regard to our points or our usuage?

 

[WebmasterDoc]

...When we sign the contract over to DVC does it affect anything in regard to our points or our usuage?

No, those of us who decline the extension will still have the same rights and abilities we have always had through January 31, 2042. The only changes will occur on February 1, 2042 when we will have no status any longer regarding ownership at that resort. Those with the xtended ownership will have no special treatment either - until February 1, 2042, when they will still be able to enjoy their ownership for another 15 years.

 

[LIFERBABE]

............
I know my views aren't everyone's but I think it's fair to say that MOST of us here feel the extension is an over-priced option.

Michelle, I agree, it's a bad deal all the way around.

 

[Debbie H]

I wonder why they need money all of a sudden?

Perhaps they want us all to get miffed, sell out points, they take rofr, and start selling them for a higher price. Something doesn't smell right.

 

[WebmasterDoc]

...
I know my views aren't everyone's but I think it's fair to say that MOST of us here feel the extension is an over-priced option.

Another way to evaluate the "value" of the extension is to ask yourself if when you originally purchased you'd been given the option of 2042 or 2057 and there was a $15 per point price difference - which would you have chosen?

Our initial purchase was in 1993 at $56 per point. If we had also been offered the option of a 2057 date at $71 per point we would have still purchased at the lower price for the same reasons that we are declining the extension now. Of course, if the offer had been priced at 1993 prices, the additional years would likely have been more like $6 per point - and we probably would have still declined the addtional years. I don't really know what price would have worked for us then or now but "free" jumps into my mind as an acceptable option - and that pricing is not currently on the table.