DVC RESALES
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Old 02-11-2013, 11:59 AM   #241
DannysMom
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[QUOTE="lodge"]

I don't know why this is a problem (owning 75-80%), because in 2042 all those that did not accept the longer contract just lose it to Disney anyway. That's going to happen to all of DVC contracts that expire in 2042.[/iQUOTE]

I think the problem is that it is committed to running OKW as currently constituted until 2057, because at least some of the existing owners extended. At the other resorts that expire in 2042, they will have the resorts free and clear to do with as they see most profitable. So if DVC is still a profitable venture, they will either tear down & build new to resell or just rehab maybe re theme and resell. Or they could sell it off entirely. Free to do with as they see fit. I think they don't like those mixed end dates at OKW, because they are limited by them.

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!
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Old 02-11-2013, 01:00 PM   #242
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When Disney offered the OKW extension what was the deal?
There was a per-point cost. I don't recall what it was, exactly, but I do recall thinking that once you factored in inflation plus the fact that the extra years were far in the future, the cost was too high.
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Old 02-11-2013, 01:10 PM   #243
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There was a per-point cost. I don't recall what it was, exactly, but I do recall thinking that once you factored in inflation plus the fact that the extra years were far in the future, the cost was too high.
I believe it was $15 per point to extend.
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Old 02-11-2013, 10:34 PM   #244
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It's a problem because Disney will instantaneously own the bulk of an old hotel that they have to pay ongoing costs on, whether the WDW rental market is ripe for more inventory or not. But, they can't really make any drastic changes to it because it has to continue operating as a DVC property under the current rules for another dozen years.
Aahhh, I SEE! Thanks!
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Old 02-11-2013, 10:38 PM   #245
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[QUOTE=DannysMom;47473240]
Quote:
Originally Posted by lodge

I don't know why this is a problem (owning 75-80%), because in 2042 all those that did not accept the longer contract just lose it to Disney anyway. That's going to happen to all of DVC contracts that expire in 2042.[/iQUOTE]

I think the problem is that it is committed to running OKW as currently constituted until 2057, because at least some of the existing owners extended. At the other resorts that expire in 2042, they will have the resorts free and clear to do with as they see most profitable. So if DVC is still a profitable venture, they will either tear down & build new to resell or just rehab maybe re theme and resell. Or they could sell it off entirely. Free to do with as they see fit. I think they don't like those mixed end dates at OKW, because they are limited by them.

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!
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Old 02-12-2013, 07:37 AM   #246
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In November 2012, Disney Vacation Development reacquired 23 deeds containing 5,003 points. As has been the case since August 2011, the majority of the deeds (17) and points (3,938) were for the Old Key West Resort.

In the last 12 months, DVD has reacquired 28,310 OKW points, significantly more than any other DVC resort. Although this amount may appear sizable, it accounts for less than 0.37% of OKW's 7.6 million points. Also, it should be noted that DVD has sold 60,268 points to the general public in the last 12 months.

Very interesting and they are sure loving OKW. I wish there was a way for VGC to be included in this chart...
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Old 02-12-2013, 08:47 AM   #247
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My opinion on the why OKW gets ROFRd and not SSR is...

OKW sells for $100 direct from Disney. SSR is $110. With those prices I would choose OKW over SSR (esp w the 2057 date)

OKW sold out a long time ago. And most every mortgage on OKW has been paid off. So the primary way for DVD to get points at OKW to resell is via the ROFR process.

For SSR, which was sold in the mid-2000's (when folks were over extending themselves) and there are prob still plenty of foreclosures that keep DVDs inventory full.

My 2cents...
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Old 02-12-2013, 11:08 AM   #248
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Monthly ROFR Data - UPDATED 02/12/2013

In January 2013, Disney Vacation Development exercised its Right of First Refusal on 17 deeds containing 3,880 Disney Vacation Club points. These are the fewest deeds and points ROFRed since August 2012, when only 16 deeds and 3,221 points were reacquired by DVD. January's total number of points is also significantly less than the average for the previous three months, which averaged 6,164 points a month.

I have only been tracking ROFR activity since June 2010, but the dip in ROFR activity does not seem that unusual for this time of year. January 2011 (7 deeds; 1,375 points) and January 2012 (5 deeds; 1,205 points) were also relatively slower months for ROFR activity. Therefore, I don't think the data for this current month is a harbinger of any changes DVD's use of the ROFR process.

As has been the custom since August 2011, more deeds and points were ROFRed for Old Key West (10 deeds; 2,245 points) than any other DVC resort.

Interestingly, three deeds for Bay Lake Tower containing 945 points were also ROFRed. Since only two BLT deeds containing 350 points were ROFRed in all of 2012, we might be seeing the start of increased ROFR activity for BLT. As of January 31, 2013, DVD had only 71,034 BLT points it could sell to the general public. DVD may decide to exercise ROFR more frequently on BLT deeds so that it has an adequate supply for its sales force. DVCNews.com will soon have an article about January's sales data that will have more specific data about BLT's remaining inventory.

As I posted previously, the Orange County Comptroller website no longer shows the sale consideration paid by DVD to reacquire these ROFRed deeds. However, the Indian River County recently revised its website and it displays the sales consideration amount. The one Vero Beach deed that was ROFRed in January 2013, was reacquired for $33.00 a point.


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Old 02-12-2013, 11:15 AM   #249
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Thanks so much for this information, wdrl! Can you provide a link for one can look up the Indian River County sales consideration amounts? I am interested to see how much the SSR contracts that were ROFR'ed sold for.
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Old 02-12-2013, 11:26 AM   #250
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Thanks so much for this information, wdrl! Can you provide a link for one can look up the Indian River County sales consideration amounts? I am interested to see how much the SSR contracts that were ROFR'ed sold for.
Thanks for reading this thread.

Here is the link for Indian River: http://ori.indian-river.org/Home/index. Click on 'Name Search' and search for Disney.

However, only Vero Beach records are available at Indian River. SSR and the other DVC resorts at Walt Disney World are located in Orange County. You have to use the Orange County Comptroller's website (https://officialrecords.occompt.com/.../docSearch.jsp) to search for records pertaining to SSR. And as I mentioned in my prior post, OCC does not display the sales consideration amount.
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Old 02-12-2013, 11:29 AM   #251
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Originally Posted by wdrl View Post
Thanks for reading this thread.

Here is the link for Indian River: http://ori.indian-river.org/Home/index. Click on 'Name Search' and search for Disney.

However, only Vero Beach records are available at Indian River. SSR and the other DVC resorts at Walt Disney World are located in Orange County. You have to use the Orange County Comptroller's website (https://officialrecords.occompt.com/.../docSearch.jsp) to search for records pertaining to SSR. And as I mentioned in my prior post, OCC does not display the sales consideration amount.
Thanks!!
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Old 02-15-2013, 01:42 PM   #252
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Originally Posted by wdrl View Post
Thanks for reading this thread.

Here is the link for Indian River: . Click on 'Name Search' and search for Disney.

However, only Vero Beach records are available at Indian River. SSR and the other DVC resorts at Walt Disney World are located in Orange County. You have to use the Orange County Comptroller's website to search for records pertaining to SSR. And as I mentioned in my prior post, OCC does not display the sales consideration amount.
for the Orange County website, which fields do you search to find the DVC properties? thanks!
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Old 02-15-2013, 02:32 PM   #253
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Thanks for the info "wdrl"

Always an interesting read each month!
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Old 03-06-2013, 04:30 PM   #254
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Monthly ROFR Data - UPDATED 03/06/2013

In February 2013, Disney Vacation Development exercised its Right of First Refusal on 11 deeds containing 2,180 points. As has been the norm since August 2011, most of these deeds were from Old Key West. Eight 8 deeds containing 1,600 points were ROFRed from Old Key West. Animal Kingdom Villas had the other 3 deeds containing 580 points.

The early part of the calendar year seems to be a relatively slow time for ROFR activity by DVD. In February 2012, only 3 deeds containing 550 points were ROFRed, while in February 2011, only 4 deeds containing 1,250 points were ROFRed. We can speculate why there is less ROFR activity during this time, but there is insufficient data available to form any supportable explanations.

January 2013 saw DVD ROFR 3 deeds from Bay Lake Tower, more than it had ROFRed from BLT in over a year. I thought this might signal the start of increased ROFR activity on BLT resales. However, no BLT deeds were ROFRed in February, suggesting that January's activity was merely a one-time anomaly.

During the DVC webcast in late February, DVD announced incentives for members who add on points from Boardwalk Villas. Obviously, DVD has an inventory of BWV points its willing to sell to the general public. However, its inventory of BWV points is not coming from ROFR activity. A BWV deed has not been ROFRed since September 2012, and only 4,395 BWV points have been ROFRed since June 2010. Despite this lack of ROFR activity for BWV, DVD sold 67,860 BWV points from June 2010 to January 2013.

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Old 03-06-2013, 06:35 PM   #255
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My BLT contract was ROFRd by disney on February 21st. Perhaps it will show up in March's data. It was for a Dec UY and was for 200 points with 180 current banked points. It was for $95 point so it was surprising Disney picked it up.
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