December 2022 Direct Sales

[Sandisw]

https://dvcnews.com/dvc-program/fin...cember-2022-direct-sales-and-year-end-wrap-up

 

[tom1944]

Is the BLT direct price set to be uncompetitive with the Grand Floridian price?

 

[AnnaKristoff2013]

https://dvcnews.com/dvc-program/fin...cember-2022-direct-sales-and-year-end-wrap-up

Who in the name of everything are the 6 people who bought Vero Beach Direct!?!? $140 per point!

 

[Sandisw]

Is the BLT direct price set to be uncompetitive with the Grand Floridian price?

BLT is a sold out resort, VGF is back in active sales because they added the resort srudios.

Before it went back on sale in March 2022, it’s sold out price was $255/pt.

 

[havoc315]

So despite VGF being cheaper points and cheaper dues than Riviera, Riviera still outsold VGF. (Though much closer).

Some combination of:
- the extra 6 years at RIV are meaningful to buyers
- Resale restrictions are not a major impediment to direct sales
-Maybe people don’t love the Resort Studios
-The majority of buyers may just like Riviera more than Grand Floridian. (Casual elegance over stuffy elegance?)

 

[HIRyeDVC]

I can't believe they ROFR'd a VGF contract in December. Looks like the direct price increases have essentially killed demand for OKW and SSR as they are no longer considered "step down" products. VGF and RR are barely half sold, meaning there will be 4 active resorts selling when VDH comes out. I wonder how it will bode for VDH pricing. Even though direct sales have slowed, 2022 looks like another great year for direct sales. I wish DVC news would update us on the resale market trend. Love these reports!

 

[HIRyeDVC]

-Maybe people don’t love the Resort Studios

I really do think the imbalance of room inventory is a bigger issue than people realize. I know that Disney was probably trying to satisfy the higher demand for studios. But for DVC afficionados, the resort studios miss a lot of marks on why we love DVC villas. I wonder if the original VGF villa rooms been harder to book since the influx of these new resort studios?

 

[Cfabar1]

Many people are buying direct “closed” contracts. VB and HHI are puzzling, When will we know how many Aulani points sold direct?

 

[HIRyeDVC]

Many people are buying direct “closed” contracts.

What is a direct closed contract?

When will we know how many Aulani points sold direct?

Probably never

 

[Nursemanit]

The key issue is whether is this based on the closing date or the contract signed.

Again - discounts matter is the #1 takeaway

The real news is they ROFR a VGF contract - when was the last time they ROFR a resort in active sales?

 

[havoc315]

I can't believe they ROFR'd a VGF contract in December. Looks like the direct price increases have essentially killed demand for OKW and SSR as they are no longer considered "step down" products. VGF and RR are barely half sold, meaning there will be 4 active resorts selling when VDH comes out. I wonder how it will bode for VDH pricing. Even though direct sales have slowed, 2022 looks like another great year for direct sales. I wish DVC news would update us on the resale market trend. Love these reports!

VDH will still be the ONLY California resort, and the first time California sold in years. I don't believe it will be seriously impacted by the other open resorts.

On the other hand, if VGF still isn't sold out when Poly2 hits the market...

 

[havoc315]

I really do think the imbalance of room inventory is a bigger issue than people realize. I know that Disney was probably trying to satisfy the higher demand for studios. But for DVC afficionados, the resort studios miss a lot of marks on why we love DVC villas. I wonder if the original VGF villa rooms been harder to book since the influx of these new resort studios?

Maybe. But I don't know if most prospective direct buyers (mostly people who take the tour while on their vacation) really give thought to the balance and whether it impacts booking larger units. It's certainly possible that it can be contributing, I just don't really believe it would be a big factor.
I do think a bigger factor is people taking tours of both the resort studios at VGF and the deluxe studios at RIV, and just liking RIV more.
I'm sure there are plenty of people who like VGF more...
But if RIV is still outselling VGF even with VGF being cheaper, it becomes safe to assume that for some reasons, RIV is more popular.

 

[havoc315]

The key issue is whether is this based on the closing date or the contract signed.

Good question. For a hint, we can go back to the report for March sales. VGF sales opened up on March 3, 2022. According to the March report:
https://dvcnews.com/dvc-program/fin...-sales-resume-direct-sales-jump-in-march-2022

Sales began 3/3 and the first sales recorded were 3/15.
So about 12 days from sale to it being recorded.

The new incentives hit VGF on November 17th. Based on the logic from March, that would suggest most of the sales in December 2022 were based on the new incentives.

 

[havoc315]

The real news is they ROFR a VGF contract - when was the last time they ROFR a resort in active sales?

Do we know that it was ROFR? It may have been foreclosure.

 

[AnnaKristoff2013]

Do we know that it was ROFR? It may have been foreclosure.

That certainly makes more sense.

 

[AnnaKristoff2013]

Do we know that it was ROFR? It may have been foreclosure.

Hey, here’s a question: Are there foreclosure auctions for foreclosed timeshare properties like their are for other types of properties?

 

[Nursemanit]

Good question. For a hint, we can go back to the report for March sales. VGF sales opened up on March 3, 2022. According to the March report:
https://dvcnews.com/dvc-program/fin...-sales-resume-direct-sales-jump-in-march-2022

Sales began 3/3 and the first sales recorded were 3/15.
So about 12 days from sale to it being recorded.

The new incentives hit VGF on November 17th. Based on the logic from March, that would suggest most of the sales in December 2022 were based on the new incentives.

But "extra points" which is much more of an incentive - were still in play for about 40% of the timeframe.

 

[havoc315]

But "extra points" which is much more of an incentive - were still in play for about 40% of the timeframe.

I admit that I'm confused by that sometimes. Wouldn't anyone buying a use year of June or later have gotten double points? (June 2022 +June 2023 points, if they purchased an June use year in December ... So buyers of June, August, September and October use years would have gotten double points?

 

[wdrl]

The real news is they ROFR a VGF contract - when was the last time they ROFR a resort in active sales?

The 125-point VGF deed reacquired by DVD was likely not a Right-of-First-Refusal. Based on the Deed Document Tax amounts on original deed transaction and the subsequent Warranty Deed filed in December, it was reacquired for almost the same price the buyers paid for it back in March 2022. I flagged it as a buyback, meaning that, for whatever reason, DVD agreed to buy back the deed from the owners.

 

[Sandisw]

I admit that I'm confused by that sometimes. Wouldn't anyone buying a use year of June or later have gotten double points? (June 2022 +June 2023 points, if they purchased an June use year in December ... So buyers of June, August, September and October use years would have gotten double points?

VGF started with 2022 points, no matter the UY. RIV sales did include the 2021 points.

But, as the year went on, that obviously applied to less and less UYs.

So, the buyers in the fall would have only gotten that if they bought Oct and Dec UYs