Big News

[WRLeGrand]

I have said since the beginning that DVC would really benefit for offering "partner" home resorts. Basically you would buy at your home resort and have another. This would be a happy medium for everyone...

 

[Turn the Page]

I do wonder if they are trying to balance demand across resorts and also how this will really effect the majority of members (beyond resale value of course). Honestly, we see threads here all the time asking if they should buy cheap HH or VB points to use at WDW and everyone always tells them that they need to buy where they want to stay. Yes, you can book at other resorts at 7 months out but that is getting harder and harder to do. OKW and SSR are generally the last resorts to fill up because yes, they are massive, but also because those are the least desirable resorts. Owners book there at their 11 month window then at 7 months there is a round of furious resorts switching as people switch to one of the 'good' resorts and that restricts the ability of people who own at those 'good' resorts everyone wants from booking what and when they want.

 

[ell13]

How is this not price fixing?

 

[CarolMN]

How is this not price fixing?

Price fixing is an agreement (written, verbal, or inferred from conduct) among competitors that raises, lowers, or stabilizes prices or competitive terms. ..

 

[citivas]

One of the selling points of DVC has been that if the owner has to sell, the contracts still have significant value. This move will kill any future resale value.

For resale the new resort, certainly it's dead. Since resale for the other 14 resorts still allow full access to all of those resorts, it I don't see it having a big impact yet. Perhaps when we are much closer to the expiration date on the 2042 resorts if there is reason to know or believe they will cycle those out of the original group, then we'll see an impact. As it is, most people still don't discount buying 2042 resort points, direct or resale, despite the shorter term, so they aren't likely to discount resale on the basis that they may lose privileges at those resorts after 2042.

 

[cm8]

Now confirmed - View attachment 374022

Wow!!!

 

[qv09vvp]

so...as long as you buy direct, any resort, then you can use those points at Any current or future resort. If you buy one of the original 14 resorts RESALE, you can still use those points at any of the original 14 but not at any new resort. is that correct?

 

[Drewferin]

so...as long as you buy direct, any resort, then you can use those points at Any current or future resort. If you buy one of the original 14 resorts RESALE, you can still use those points at any of the original 14 but not at any new resort. is that correct?

Yes

 

[Jelly563]

That being the case, I don't see losing any value to an original 14, resale contract. If you want to stay at any of the new resorts you will just have to buy direct. Not earth shattering

 

[chalee94]

so...as long as you buy direct, any resort, then you can use those points at Any current or future resort. If you buy one of the original 14 resorts RESALE, you can still use those points at any of the original 14 but not at any new resort. is that correct?

"Subject to availability..."

But I'm in agreement that you would have to be a complete sucker to buy Riviera direct. They had better do their homework and understand how much risk they are taking if they ever need to resell the contract.

 

[Networth]

If anything this really hurts the unsuspecting first time buyer going to Disney and buying Rivera (and probably that new nursing home on Bay Lake). They will buy based on pixie dust and the guide will not even mention the resale market. Fast forward 10-15 years when job loss, divorce, natural disaster what have you hits, and that family is going to take a massive loss if they sell.

 

[jarestel]

I can certainly understand the disappointment expressed by many posters about this latest change and its effect on resale values. Objectively, I'm not sure future resale value should ever be a reason to buy or not to buy a timeshare, but it can definitely be considered a benefit in the case of DVC. (but as we all know, benefits may go away at any time)

OTOH, the main, and possibly only reason most of us bought DVC in the first place is for on property access to the four Disney parks. I suspect future buyers will find this an equally compelling reason. Though prices have risen since the first "Disney Vacation Club" villa went on sale, the things that attract people to DVC haven't changed: MK, EP, DHS, AK, and any future parks to come.

 

[Networth]

I can certainly understand the disappointment expressed by many posters about this latest change and its effect on resale values. Objectively, I'm not sure future resale value should ever be a reason to buy or not to buy a timeshare, but it can definitely be considered a benefit in the case of DVC. (but as we all know, benefits may go away at any time)

OTOH, the main, and possibly only reason most of us bought DVC in the first place is for on property access to the four Disney parks. I suspect future buyers will find this an equally compelling reason. Though prices have risen since the first "Disney Vacation Club" villa went on sale, the things that attract people to DVC haven't changed: MK, EP, DHS, AK, and any future parks to come.

I agree with you and its a fair point never to buy a timeshare assuming you will make money or break even. I do however question would of as many people bought into DVC, had they known the resale market may be awful? I know personally the idea I could obtain some value from our contracts God forbid something happen made it easier to sign on the dotted line.

My main goal was to go to WDW as you pointed out, but knowing the resale market had some value made it easier to agree to buy in.

 

[storey13]

I'm currently waiting for ROFR response. It will be 30 days this week. Does this affect my contract or am I good?

 

[Hopefully]

I'm currently waiting for ROFR response. It will be 30 days this week. Does this affect my contract or am I good?

You're good

 

[skippytx]

I'm currently waiting for ROFR response. It will be 30 days this week. Does this affect my contract or am I good?

You're good.

 

[storey13]

You're good

You're good.

Thanks!

 

[YesterDark]

Personally, the few times that I've looked into DVC (my sister is a member) the very appealing aspect was the resale market.

 

[citivas]

That being the case, I don't see losing any value to an original 14, resale contract. If you want to stay at any of the new resorts you will just have to buy direct. Not earth shattering

The issue isn't buying the new resorts, it's selling them later. Many people don't hold onto their points forever. Most do not buy them as an investment expecting them to retain or appreciate in value but they have been comforted by the multi-decade track record of holding value and knowing they won't be wiped out if and when they have to or chose to resell, with the possibility of coming out ahead on principle. Now anyone buying into the new resort will have really no recourse to unload their contract because the resale market for them will likely be virtually non-existent, limited effectively to suckers or people adding-on points at that particular resort perhaps. Most people finance their purchase and until now if they realized they couldn't keep up with the interest and annual fees, they could resell and not be wiped out. Now anyone buying into the Riviera needs to presume that the entire up-front asset purchase plus the annual fees will be consumed in however long they personally maintain their membership. Much bigger risk. It took it effectively from the category of a real estate transaction to an expensive lease.

 

[Dean]

How would they restrict this? Add wording to the contract at ROFR?

My first thought is they can't add resorts to DVC and impose this restrictions. What they can do is create a new system with a crossover and I suspect this is the way this will technically go. Effectively it's a VIP system if that's the case. They'll have to restrict both directions I suspect. And there will have to be some type of crossover control in terms of volume.