Another Resale questions for the experts

[deltadisney]

I am strongly considering purchasing a smaller dvc resale and the more I get into researching, the more quesitons that come to mind.

With 2 children and a teacher in the family, our disney time is limited to summer, spring break, thanksgiving, and christmas break. I understand the 11 month home resort booking and 7 month non-home booking; however, if we waited and decided 3 months out that we wanted to book a last minute vacation, what are the chances that we would have a few options to pick from? I can imagine the more popular resorts would be booked, but would we at least have a few options to pick from or do you typically have to plan out your vacation by the 7 month mark?

As to cancellations, is it correct that if you cancel before 3 months of your reservation, that you do not loose your points and you could reallocate for another trip, bank or rent/transfer? Also, if you were inside of the window of where cancelling would cost you your points, can you change the name of the parties and sale/rent the reservation to a third party (such as on the DIS boards) to at least get some money back?

Finally, for a smaller 50 point contract - do you anticipate these typically holding there resale value over the next 10 - 15 years? Please correct me if I am missing something, but if the smaller contracts hold the value, for a family of 4 who would go maybe every 2-3 years for the next 10 years or so and a 50 point dvc membership would accommodate their needs during this time, this could be a significant savings, even if the membership is resold after 10 - 15 years.

I sincerely thank you all for your help, advice, and expertise.