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Post by zafiro on Jan 27, 2023 17:31:43 GMT -5
The current resale market is reminiscent of 2007- 2012 era; strong and growing supply and pricing is waning. I'm keeping my powder dry for the months to come.
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Post by BWV Dreamin on Jan 27, 2023 17:34:54 GMT -5
Hello, and glad to see you here! Yes there is a glut of inventory. I was watching a podcast last week, and that reseller stated they had 750 listings! From one reseller! So you know the others out there must have around the same. Funny thing is, I am not seeing prices drop that much.
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Post by zafiro on Jan 27, 2023 17:56:56 GMT -5
I'm seeing downward prices with SSR, HHI, AKV, OKW and VBR resales. Maybe just the start of the reductions. It would make sense that those resorts would fall first.
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Post by a1000monkeys on Jan 27, 2023 17:57:22 GMT -5
Hello, and glad to see you here! Yes there is a glut of inventory. I was watching a podcast last week, and that reseller stated they had 750 listings! From one reseller! So you know the others out there must have around the same. Funny thing is, I am not seeing prices drop that much. Even without a drop in asking prices, I bet selling prices are coming down. BTW, love your avatar. I had a 71 and a 75 VW camper van. Wish I still had one (though it sucked going up long hills with the underpowered engine). |
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Post by zafiro on Jan 27, 2023 17:57:58 GMT -5
...and btw - great to be here! Thanks.
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Post by BWV Dreamin on Jan 27, 2023 18:30:24 GMT -5
Hello, and glad to see you here! Yes there is a glut of inventory. I was watching a podcast last week, and that reseller stated they had 750 listings! From one reseller! So you know the others out there must have around the same. Funny thing is, I am not seeing prices drop that much. Even without a drop in asking prices, I bet selling prices are coming down. BTW, love your avatar. I had a 71 and a 75 VW camper van. Wish I still had one (though it sucked going up long hills with the underpowered engine). Thanks! I tried to buy one but the price tags range from $30,000-$70,000! You should have kept it!!! |
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Post by BWV Dreamin on Jan 27, 2023 18:33:52 GMT -5
I think DVC is oversold. It was a different product back in the day. Now, it’s down to converting hotel rooms. Maybe the new PolyII will be different. Universal is really giving Disney a run for their money.
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Post by brp on Jan 27, 2023 19:04:20 GMT -5
We had, at one point, thought about getting some cheaper SSR points to supplement our BCV and BWV for longer stays in retirement. That's now not high on the list. We still do enjoy our BCV and BWV and our visits. But maybe more is not necessary.
Cheers.
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Post by BWV Dreamin on Jan 27, 2023 19:18:26 GMT -5
The rental market is also at an all time high. I guess if people can’t sell they will try and rent. I am starting to see some of the rental prices coming down. Not by much but not as many $20/pt rentals. If these gluts remain, we should see both resale and rental prices start to fall. But I don’t know how soon this will happen.
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Post by bigbahamadada on Jan 28, 2023 16:21:17 GMT -5
Agree on the significant increase in inventory. I surprisingly found myself back in the market for some additional DVC points and have been watching the Orange county bankruptcy auctions. (The prices at which DVC is the bidder there has not changed much in the last 6 months.) But, with the bankruptcy price in mind as a ceiling, I went looking for some sellers that might be amenable to an offer in that neighborhood. The resale market has definitely has some more flexible sellers these days.
I just picked up an OKW extended contract for less per point ($107) than I would have been able to get via the bankruptcy auction process. Passed ROFR this week.
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Post by bubster on Jan 28, 2023 16:57:46 GMT -5
Maybe it’s different right now but usually there is an uptick in listings around this time of year when MFs are due. Question is are people buying?
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Post by BWV Dreamin on Jan 28, 2023 17:21:36 GMT -5
Agree on the significant increase in inventory. I surprisingly found myself back in the market for some additional DVC points and have been watching the Orange county bankruptcy auctions. (The prices at which DVC is the bidder there has not changed much in the last 6 months.) But, with the bankruptcy price in mind as a ceiling, I went looking for some sellers that might be amenable to an offer in that neighborhood. The resale market has definitely has some more flexible sellers these days. I just picked up an OKW extended contract for less per point ($107) than I would have been able to get via the bankruptcy auction process. Passed ROFR this week.  Saweeett!!! |
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Post by mditkof on Jan 28, 2023 17:40:38 GMT -5
That is when we could by OKW for $56 per point, and people were arguing whether it was an investment.
Marty
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Post by BWV Dreamin on Jan 28, 2023 18:04:06 GMT -5
Just read a resale story on another message board. This person listed a BWV contract back in August. As of December no takers despite lowering the price a couple of times. This broker had a “buy back “ program in place if you wanted to exercise that option. They did for $123/pt. Since then the broker has lowered their buy back offer by $11/pt. since this persons settlement. Said broker still has 62 BWV contracts for sale. Things are not looking good right now.
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Post by capeokw56 on Jan 29, 2023 6:25:45 GMT -5
Inflation catching up to people? I have a pension with a 3% cola every year but I can tell the difference in my buying power since I retired in 2009. The cost of everything is going up rapidly and it's affecting people's disposable income.
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Saweeett!!!