Resales vs New

[Ed T]

Has everyone seen the # of resales out there. I looked at one site that had over 20 up for sale. Is this a sign of the current economic times or are people just had it with DVC? What effect will MB have on all these resales.

Ed

 

[MikeJ]

I think it's a little of both. I've been taking both to Jaki Apetz and people at the Timeshare Store and both companies have seen an upswing in both listings and inquiries to sell since 9/11. Given the number of people who have been laid off since then I can certainly see how they would need to sell, particularly if they took a loan to purchase their DVC interest, if one or both spouses are unemployed. The economy was going into the tank before 9/11 but I think to some extent this just accelerated it.

On the other hand, one of our moderators on the Canadian board (Hi Pooh ) was, at one point, toying with selling their DVC interest because (a) their kids were into their late teens and not as keen on WDW as before, and (b) they discovered they liked to vacation elsewhere than WDW.

We, on the other hand, are looking to add on to the 180 points we have at OKW. We'd like to get something similar to our present contract, but there is a dearth of contracts in the 150-200 point range, and those that are there either have no points until 2003 or, by the time you add closing costs are almost as expensive as buying from Disney before MB. To my mind, MB is the clincher (and given discussions I've had with Bettie Pleasant I infer that sales at Disney have dropped of the table) and we're seriously considering taking advantage of MB. Granted, it's not OKW but we do like the atmosphere at WL.

- Mike

 

[CRobin]

That resale market doesn't exhibit characteristics one could easily pattern. The most sought after property, BWV, still appears to move rather quickly, although not as fast as it used to.

The economy could certainly be a player. An owner who just lost his job and needs cash may have to sell assets, and DVC could be one of those. Unless you were an investment wizard, dumping your DVC contract, however painful, certainly cuts your losses versus unloading a high tech mutual fund that's lost half its value.

While most are not really happy with what Disney did with the DC points, I'd be surprised if someone would sell their contract for that reason only.

But, I've been surprised before!

 

[Mickbee]

A couple months prior to now, there were almost 30 listings on some sites. For the August and prior to September 11 there were only 16 or so listings on the Timeshare Store site. The Time Share Broker site was low too. I don't think that 20 listings is anything to be concerned about. If there was 30-40, then maybe...

Also, some asking prices are outright silly. If we could by HHI or VB for $62 with MBs, why would we pay $70-72 plus closing costs for a resale.

 

[addieh]

Hi,

While most are not really happy with what Disney did with the DC points, I'd be surprised if someone would sell their contract for that reason only.

What did Disney do with the DC points??

We have been dreaming of buying for a while, just interested.

Thanks!

 

[Pluto4President]

The sites always have swings with listings. Some light, some heavy. It depends a lot upon the contract sizes. If they are small and have no borrowed points, they'll usually go quickly. The bigger contracts linger longer. I check the three sites almost everyday. There are also listings that never make it to the web becuase they are sold that quick. The good thing is that even if people are selling, there are still plenty looking to add-on or buy.

 

[CRobin]

Addieh:

The points required for the Disney Collection took some dramatic swings for next year, mostly up. This has upset many who had purchased into DVC hoping to use their points more often for the Disney Collection.

 

[Disney Adventurer]

The feedback I've gotten from the resale companies seems to indicate that there is an upswing in listings at this time but people are still very firm in the pricing. I would suspect if the number of listings continues to increase over the next month or so, the prices will soften. But I think it is all economy dependent, as someone mentioned when a layoff hits, the luxuries are the first thing to go and although most of us probably think DVC is a necessity, in a bind it's a luxury. September was a very high month for layoffs so maybe as we settle into this "recession" things will stabilize and so will the number of listings. Again, all just my opinion.