CCV now available as resale

[Cyberc1978]

Just saw CCV listed with one of the "big" brokers. It has 185 points 0 in 2017 and 18 in 2018. The owner did get a little use of it.

Its listed at $148pp

Regards

 

[Littlelulu01]

It is also stripped of 2016 points. If purchased direct today it would include 2016, 2017,all of 2018 and include a pricing reduction and the $500 gift card. Not to mention the quick closing and direct benefits.

 

[Cyberc1978]

It is also stripped of 2016 points. If purchased direct today it would include 2016, 2017,all of 2018 and include a pricing reduction and the $500 gift card. Not to mention the quick closing and direct benefits.

As the resort opened here in 2017 there would be no 2016 points.

 

[4luv2cdisney]

But it's by UY.

I almost bought CCV direct as a new buyer on 9/30 with 2016 points with October UY. Instead I got my BWV with no 2016 points on 10/1.

 

[Cyberc1978]

But it's by UY.

I almost bought CCV direct as a new buyer on 9/30 with 2016 points with October UY. Instead I got my BWV with no 2016 points on 10/1.

You are right and i'm wrong. I just found this thread:

https://www.disboards.com/threads/ccv-use-years.3595254/

So depending of your choice of UY you could get 2016 points.

 

[Littlelulu01]

It’s a December uy so any December uy purchased until November 30 includes 2016 points. If I purchased a December uy of 185 points today I’d get 2016 points no mf’s, 2017 points with minimal mf’s as in only a few days prorated, and then get a bill for 2018 fees in January. I’d also get the $2500 developers credit reducing the pricing cost to $162/point and then the $500 Disney Gift Card as a freebie. They will courtesy bank the 2016 points so they are good till November 30, 2018. The closing costs are also less when purchased direct.

 

[_auroraborealis_]

I think the only CCV resale with value right now is if one of the guaranteed weeks for first week of December (is that 48? 49?) sold.

 

[supersnoop]

If my math is right, you’re losing two years worth of points for a $12/point savings. I don’t see how that makes any sense.

 

[Littlelulu01]

Well they also used most of the 2018 points so losing almost 3 years of points, two of which they essentially received for no mf’s. The current owner will have to pay the mf’s on the majority of the 2018 points they took but will have received the 2016 and 2017 essentially for no mf’s. Contract also can’t close till June. Figuring even if potential purchasers didn’t want the 2016, 2017 and 2018 points they could easily rent on David’s for $14/point no hassles and come out way ahead by going direct.

If this contract was priced at less than $120 per point it would be in the ballpark of what it’s worth fully stripped.

 

[ziravan]

It’s a December uy so any December uy purchased until November 30 includes 2016 points. If I purchased a December uy of 185 points today I’d get 2016 points no mf’s, 2017 points with minimal mf’s as in only a few days prorated, and then get a bill for 2018 fees in January. I’d also get the $2500 developers credit reducing the pricing cost to $162/point and then the $500 Disney Gift Card as a freebie. They will courtesy bank the 2016 points so they are good till November 30, 2018. The closing costs are also less when purchased direct.

This is why you’re almost certainly better off buying the current resorts direct.

Honestly, the guy bought new, used more than 450 points - all of ‘16 and ‘17, and most of ‘18, and now wants to sell at an essentially $13 dollar discount from direct. $11 when you factor in higher closing.

Honestly, that contract should be valued at $130 or less.

It’s the same with Poly although the gap is starting to spread enough to make some Poly contracts appealing and that will become even more pronounced when Poly sells out in a few months.

 

[Littlelulu01]

And don’t forget the developers credits too. They’ve varied but for today they are $2500 discount on this amount of points plus the $500 gift card. That alone brings initial points cost to $160.

A purchase of CCV to get 2016 points is only good through the end of this month and only if purchasing a December uy at this point.

Ccv June uy and earlier never got the 2016 points so should a person want the full contract initial points- at this point either December uy with the bonus 2016 points or a use year of June or earlier for no used points in the contract life. IMO any other direct contract at today’s rates are not worth it from a financial standpoint.

 

[ELMC]

Clearly someone is trying to piggyback on the recently inflated resale prices. It only takes one buyer to not do the math for a contract to sell.

 

[_auroraborealis_]

Clearly someone is trying to piggyback on the recently inflated resale prices. It only takes one buyer to not do the math for a contract to sell.

I don't know about that.

This person may have seen changed financial circumstances in the course of the year, having used borrowed points for a first stay. They may have hated their trip, a lot. It is very hard to jump straight to piggybacking. While the pricing is not realistic, that may be simply like how some people price other real estate: They want to cover what they owe, and price there regardless of market value.

 

[supersnoop]

I don't know about that.

This person may have seen changed financial circumstances in the course of the year, having used borrowed points for a first stay. They may have hated their trip, a lot. It is very hard to jump straight to piggybacking. While the pricing is not realistic, that may be simply like how some people price other real estate: They want to cover what they owe, and price there regardless of market value.

But they can’t close until June. So they liked it enough to go back. And they aren’t in such dire financial straits that they feel the need to cancel their summer vacation.

 

[FireflyTrance]

I agree $148 is much too high for this and most likely it was priced that way just because that is what it would cost to re-pay what they owe on their loan. Who knows, maybe if someone offers $120-$130 they will accept it.

 

[Littlelulu01]

Recoup costs for sellers would be around $140 per point after factoring in the rental value on points used and costs they incurred buying and selling. Can’t close till 6/2018 and by then a direct purchase will have lost the opportunity for the free 2016 points.

 

[Cyberc1978]

Could also be that the asking price is simply set by the broker. Seller is asking broker for advice and since it’s a first no one really knows it resale value...yet.

So since it’s a WDW resort just like Poly which is also still in active sales they go for the same price-ish maybe a tad higher since it’s a newer resort. If it sells it sells.

If I was looking for CCV I would put in an offer. Just like some here feels it’s daring to put that high of a price on it, I would really low ball it. You have absolutely nothing to loose by doing so.

Someone wrote the price should be in the 130-ish I would go lower than that. You might not get it, OTOH you just might.

 

[mustinjourney]

Could this be a decent arbitrage opportunity as a buyer/seller?

Buy direct with Dec. UY. Transfer the points to another account and then sell this one stripped of points at a "discount." It only takes one gullible person to make this work. At the current $176 per point, if you buy 175 points, you get $2,500 credit and then a $500 gift card, which drops the price per point down to about $159.

If you transfer out 3 years worth of points, even if you pay the MFs on them, then they have at least an $8 value per point, so you're talking another $24, which brings cost down to about $135. Listing fees will cost about $11 per point, so now you're up to about $146 break even.

After doing the math -- I don't think it would be worth all of that effort.

 

[unveilmyeyes]

Seller is asking broker for advice and since it’s a first no one really knows it resale value...yet.

I think this is actually the easiest use case to determine value as there is known purchase price and can subtract out amount would cost to rent those points to "replace" what is missing. Some people will only look at the price per point and not want to factor in lost points or extra points if purchasing dec uy direct, so who knows what seller will get. I agree with your assessment about offering lower than 130ish.

Resale also has to include commission so that may account for what seems like a higher price to us.

 

[Littlelulu01]

Seller didn’t pay dues on the 2016 points and the most dues that were paid on 2107 is half the year. If someone purchased direct today the 2017 fees are negligible because it’s only a month so prorated to only the days left in this year. Seller will pay full dues on the 2018 points used and so will purchasers of direct points. Figure to purchase direct it would cost about $3.78 per point in closing fees. To sell factoring in the commission and estoppel fee it would cost seller around $11/point.

Given that someone can purchase direct today and get two years of points no mf’s, has lower closing costs and is getting a discount cash and gift card, this contract would only be worth it at $120.

After assignment of a value on the points used compared to what seller could rent for- $17/on 2016 & 2017 points and $10 on 2018 points seller would need to get about $133 per point to break even after commission and buy/sell costs.

So it’s basically a good deal for a buyer if they could purchase for $120. Seller can let it go with no real cash loss at $133. At $120 They may be interested in a $13/point loss to get out of it. If so it’s really only a $2405 mistake they made. Not bad for getting out of a timeshare purchase with less than a year ownership.

It’s interesting to analyze just because the folks who purchased any Resort the first year of offering can get out and basically get their cash back. For instance poly sold initially for $160 and I think GFV at $145. Same scenario with the extra year free points. Take away a value of $10/point per year and anyone who purchased in the first year of offering can get out easily after you factor in the rental value of points used.

Problem today is the opportunity cost is much greater than say if purchased a GFV initial contract when money wasn’t making much. The opportunity cost to purchase today is much greater and so just simply factor in tying up that cash today on discount vacations in the future seems like no win. For that reason I don’t even think it’s worth $120 resale. Perhaps if financed at a very low interest vs plunking down 30k cash? Idk.