Why is everyone so concerned with the new Poly tower

[DarthDadMan]

That's are good thing right? Seems like everyone is on the other side of the aisle from me so I just wanted to make sure haha

My personal opinion, I don't see a scenario where Poly1 resale gets any cheaper than it already is considering how stagnate resales are right now combined with no rofr and the sheer amount of contracts for sale, so I think the only question you need to answer is: if Poly tower is a new association, are you going to regret having bought Poly1 now? If not, you're golden. Either way, Poly ownership is going to retain it's value.

 

[Marionnette]

If new association, sure, but if not it'll be the same as PVB1. I think even if a new one they will go with the same end date as pvb1 as well.

UNLESS, just thought of this, they plan to give back the DVC buildings to the regular hotel when it expires. LONG time away still, but could be a possibility. PVB1 ceases to exist at contract end of life and those 3 buildings are given back to the hotel and the tower is now the only DVC units for poly.

Well, my post was in response to the PP asking how the addition of a second tower would affect the value of a separate resort. So...

But it's also possible that DVD will sell Poly2 with a 2066 expiration date to match PVB even if Poly2 becomes a separate association.

 

[RoseGold]

My personal opinion, I don't see a scenario where Poly1 resale gets any cheaper than it already is considering how stagnate resales are right now combined with no rofr and the sheer amount of contracts for sale, so I think the only question you need to answer is: if Poly tower is a new association, are you going to regret having bought Poly1 now? If not, you're golden. Either way, Poly ownership is going to retain it's value.

Losing resale value is exactly what happened with the VGF1 resale just a few months ago, which were in the 190s resale at the time VGF2 released. It's definitely possible resale price drops if Poly prices low (or excludes Poly1). Does this uncertainty about resale value matter if you plan to hold Poly for 15 years? No. But it does if you plan to sell in a few years.

 

[DarthDadMan]

Losing resale value is exactly what happened with the VGF1 resale just a few months ago, which were in the 190s resale at the time VGF2 released. It's definitely possible resale price drops if Poly prices low (or excludes Poly1). Does this uncertainty about resale value matter if you plan to hold Poly for 15 years? No. But it does if you plan to sell in a few years.

VGF resale prices were averaging $194 at the time VG2 became available at $207, and dropped VGF resale average to $172. Poly1 is averaging $25 cheaper than that, currently, and actually could probably be had mid $150s currently due to the factors I listed. Poly2 being sold at $207 would have no effect on Poly resale, imo of course.

 

[Tech4444]

You asked:
"Why is everyone so concerned with the new Poly tower and saying they would wait to find out if its part of old or new."

If you had asked "What are the advantages of buying PVB resale now instead of waiting for Poly2?" The answers would have been different.

I absolutely agree, point taken haha

Does this uncertainty about resale value matter if you plan to hold Poly for 15 years? No. But it does if you plan to sell in a few years.

This is our situation, we are buying for the long haul.

VGF resale prices were averaging $194 at the time VG2 became available at $207, and dropped VGF resale average to $172. Poly1 is averaging $25 cheaper than that, currently, and actually could probably be had mid $150s currently due to the factors I listed. Poly2 being sold at $207 would have no effect on Poly resale, imo of course.

Poly1 at $150? That seems a little low to me. Maybe a high point stripped contract.

 

[Chuckdlc]

I'm just thinking out loud here but my lawyer brain is saying that if DVC is deeded properties and a tower is added on to the same land as that existing deeded property, it would have to be covered.

 

[RoseGold]

VGF resale prices were averaging $194 at the time VG2 became available at $207, and dropped VGF resale average to $172. Poly1 is averaging $25 cheaper than that, currently, and actually could probably be had mid $150s currently due to the factors I listed. Poly2 being sold at $207 would have no effect on Poly resale, imo of course.

Some VGF sold in the 150s, compared to 190s for many months before. Many contracts got pulled off the market, like people on these boards who are now waiting to sell. And now there's nothing on the market. VGF1 was undercut by VGF2, and it could happen to Poly also with whatever future pricing is in two years. Maybe this risk matters to OP, maybe it doesn't.

 

[RoseGold]

I'm just thinking out loud here but my lawyer brain is saying that if DVC is deeded properties and a tower is added on to the same land as that existing deeded property, it would have to be covered.

WL is the same, and CCV is it's own deal.

 

[Sandisw]

If new association, sure, but if not it'll be the same as PVB1. I think even if a new one they will go with the same end date as pvb1 as well.

UNLESS, just thought of this, they plan to give back the DVC buildings to the regular hotel when it expires. LONG time away still, but could be a possibility. PVB1 ceases to exist at contract end of life and those 3 buildings are given back to the hotel and the tower is now the only DVC units for poly.

And I would say they could’ve decide to make it a new resorts, but keep the expiration the same.

If VGF is holding its own in sales,,with a shorter life,, they could end up matching it it PVB.

 

[Sandisw]

I'm just thinking out loud here but my lawyer brain is saying that if DVC is deeded properties and a tower is added on to the same land as that existing deeded property, it would have to be covered.

CCV and BRV are different resorts deeded differently. The ground lease only covers the areas the building are located.

PVB only covers that area. The new tower is a different part of the Poly property and this can be its own resort.

 

[Headless Horseman]

OP, I say go for it with no fear! I bought PVB resale about a year ago and have zero regrets. The fact I can stay at the Polynesian, that I love, for about $250 a night vs. $850 cash seems like a gift. We just had our first stay, and the rooms/resort are awesome!

I will probably add on some direct points at the tower whether it is the same association or not. And if I end up with too many points, I can easily rent them, as Poly 1 is in demand vs the cash price. You might think it is undesirable vs the tower based on some of the comments I've seen in various threads, but I 100% disagree!

 

[Tech4444]

OP, I say go for it with no fear! I bought PVB resale about a year ago and have zero regrets. The fact I can stay at the Polynesian, that I love, for about $250 a night vs. $850 cash seems like a gift. We just had our first stay, and the rooms/resort are awesome!

I will probably add on some direct points at the tower whether it is the same association or not. And if I end up with too many points, I can easily rent them, as Poly 1 is in demand vs the cash price. You might think it is undesirable vs the tower based on some of the comments I've seen in various threads, but I 100% disagree!

Thank you for the input!!

CCV and BRV are different resorts deeded differently. The ground lease only covers the areas the building are located.

PVB only covers that area. The new tower is a different part of the Poly property and this can be its own resort.

I wonder if the deed covers the building that Spirit of Aloha was in

 

[wnielsen1]

I wonder if the deed covers the building that Spirit of Aloha was in

The existing DVC buildings and the Spirit of Aloha building are on completely opposite sides of the Polynesian Resort. In any event, it doesn't matter as the DVC condo association is leasing the land from Disney and they are only leasing the land that the DVC buildings are sitting on (and presumably similar rights for the bungalows).

 

[Sandisw]

Thank you for the input!!

I wonder if the deed covers the building that Spirit of Aloha was in

It does not. Those are all lands owned by Disney

Matter of fact, even all the resort amenities are most likely just right to use like they are at VGF.

None of the hotel things were declared as part of DVC.

 

[AvidDisReader]

I have been on record as stating Disney will watch the sales of the Grand Floridian carefully to decide if they will make Poly Tower part of current DVC or a separate DVC resort. Well the numbers are in for April and it is proving to be a very big success. Over 177,000 points sold - almost double that of RIV (and over 17% of total new points sold in less than 2 full months). So, if you believe like me that Disney will follow the money, the new Poly will be part of existing Poly for quick sell of the points since there would be no resale restriction, and the deeds will be 42 years and not 50 years for a quicker churn time. Please do not blow me up, this is just my opinion.

 

[Sandisw]

I have been on record as stating Disney will watch the sales of the Grand Floridian carefully to decide if they will make Poly Tower part of current DVC or a separate DVC resort. Well the numbers are in for April and it is proving to be a very big success. Over 177,000 points sold - almost double that of RIV (and over 17% of total new points sold in less than 2 full months). So, if you believe like me that Disney will follow the money, the new Poly will be part of existing Poly for quick sell of the points since there would be no resale restriction, and the deeds will be 42 years and not 50 years for a quicker churn time. Please do not blow me up, this is just my opinion.

I have been waiting on the numbers!! Gotta find them!!!

I agree that this gives them more data. Doesn’t quite mean to me it won’t be a new resort but it does give them data that maybe they will eliminate restrictions??

Scratch that. They sold over 90k points at RIV and out of the 177 K at VGf, only 47K were new buyers.

I’d say this shows that new buyers are still going for RIV as well so it might just tell DVC that pricing is what drive the sales more than anything else.

Basically, VGF increased total sales but RIV went up well. To me, that means it’s back to people choosing DVC and the last year of slower sales May have been more impacted by current travel than anything else.

ETA. It also means that new buyers are still willing to chose RIV even with VGF. It may mean that resale restrictions with a longer contract are enough to go that route.

We knew current owners had concerns but obviously not the the same degree new buyers did. It will be interesting to see how this plays out. While VGF definitely did better I don’t think it is enough for them to abandon the restrictions and think it leads raise my prediction to Poly tower being new, with restrictions but expiration to match PVB. Was at 90%..going to 93%!

 

[kilik64]

I have been on record as stating Disney will watch the sales of the Grand Floridian carefully to decide if they will make Poly Tower part of current DVC or a separate DVC resort. Well the numbers are in for April and it is proving to be a very big success. Over 177,000 points sold - almost double that of RIV (and over 17% of total new points sold in less than 2 full months). So, if you believe like me that Disney will follow the money, the new Poly will be part of existing Poly for quick sell of the points since there would be no resale restriction, and the deeds will be 42 years and not 50 years for a quicker churn time. Please do not blow me up, this is just my opinion.

Holy smokes. Impressive for VGF2 out of the gate. I think if that holds for say the next 6 months or so, with it beating RIV handedly, you'll have your answer on poly2. At the pace its on, it could sellout in less than a year...? Crazy.

 

[hglenn]

I have been waiting on the numbers!! Gotta find them!!!

I agree that this gives them more data. Doesn’t quite mean to me it won’t be a new resort but it does give them data that maybe they will eliminate restrictions??

This is my hope..... I don't mind the new contract (doesn't impact me either way) however, would be great for them to eliminate the restrictions.

 

[hglenn]

I have been waiting on the numbers!! Gotta find them!!!

Can you post them when you find them?

 

[kilik64]

Can you post them when you find them?

https://dvcnews.com/dvc-program/fin...-help-drive-strong-direct-sales-in-april-2022