WOW DVC Prices !!!

[RoseGold]

I do remember reading that not every original owner signed off on the proposed exit/transition strategy ?
Is it too much to hope that DVC would have made note of that in their corporate database, and that they learned some lessons that will impact their 2042 game plan?

A lot of owners didn't sign at the time. Disney hounded them, there were lawyers involved, and Disney backed off. Some of them are still around these boards. Quitclaims are still being filed when OKW gets sold -- it's required to sell on the resale market.

If that were me, I'd be holding. I don't really see a downside, and there could be a lot of upside.

 

[zavandor]

The cost of washing points if it were to ever happen in my opinion would be slightly higher that the difference between the current resale prices for that particular resort and the current direct price. If it was anything less than people would just buy resale then wash the points.

Exactly, I agree. That's why I used the $80 figure, it's in today money and market. Maybe in the future, if resale restrictions depress resale prices more, it could even be higher.

 

[Sandisw]

Are there lessons learned from the original OKW contracts ??
I remember reading lots of conflicting opinions, when we were first exposed to these boards back in 2011...........
At that time, it really wasn't on my list of worries, as I only owned at SSR back then, and was a noob
I do remember reading that not every original owner signed off on the proposed exit/transition strategy ?
Is it too much to hope that DVC would have made note of that in their corporate database, and that they learned some lessons that will impact their 2042 game plan?

I think the big lesson they learned is that not as many people jumped on it as they had thought would and not have owners who did neither...didn't pay and didn't sign their deed back to them in 2042.

So, all of those owners may end up having use of the resort beyond 2042 for free....and that alone is why I don't think we have seen anything offered for the other 2042 since....

 

[E2ME2]

I think the big lesson they learned is that not as many people jumped on it as they had thought would and not have owners who did neither...didn't pay and didn't sign their deed back to them in 2042.

So, all of those owners may end up having use of the resort beyond 2042 for free....and that alone is why I don't think we have seen anything offered for the other 2042 since....

WOW - that paints an interesting background for my BCV/BWV contracts!
When I first bought in, 2042 seemed so far away!!! , now - not so much.
When you say "use...beyond 2042 for free", are there OKW owners who are currently using their DVC
without paying MFs ??

 

[AstroBlasters]

I think the VGC resale prices will drop significantly once VDH are for sale ( which will be soon) . I believe it to drop to 175 a Pt or even less. The 2042 resorts will be dropping $10 a point or so per year from now on . At some point they will not even be worth the time and effort to purchase them . Probably around the point where there are 5-8 years left. At that point there will be a ton of Points on the Rental market because people cant sell so they will rent. This will probably drive the Rental cost PP down also. Just my thought . Lord help us if some sort of mini Hyperinflation sets in.

I don’t think there will be enough VGC contracts on the market to have the price drop significantly.

The supply has been dropping at a steady pace since Disney released more info on the VDH Animation Academy/Art of Animation theming.

But, I could be wrong.

 

[tom1944]

WOW - that paints an interesting background for my BCV/BWV contracts!
When I first bought in, 2042 seemed so far away!!! , now - not so much.
When you say "use...beyond 2042 for free", are there OKW owners who are currently using their DVC
without paying MFs ??

I think it means free in that they will take an extra 15 years at no cost.

Disney will foreclose if they do not pay MF.

If the contract ends in 2042 I believe Disney will deny them the ability to use the points. Just because someone else has a contract out to 2057 does not mean you do.

 

[RoseGold]

If the contract ends in 2042 I believe Disney will deny them the ability to use the points. Just because someone else has a contract out to 2057 does not mean you do.

Depends on what you think the "contract" is. The land lease for the whole property was extended in 2007, by Disney. It was their choice. Disney needed to collect the money ($15/$25) or the quitclaim, which we know wasn't done for everyone.

I guess we will see what happens in 2042. I think there's some good arguments for the owners, and we will see how many are still holding then.

But yea, nothing will be extended again, for sure.

 

[tom1944]

Is Disney allowing owners to transfer OKW contracts to their children or allowing it to pass as an asset of the estate and allowing a title change without a quitclaim?

 

[Brian Noble]

So, all of those owners may end up having use of the resort beyond 2042 for free

I will offer long odds that this does not happen. It may be messy, but I suspect Disney will find some way to prevent owners from just getting 15 extra years for no additional consideration.

 

[RoseGold]

I will offer long odds that this does not happen. It may be messy, but I suspect Disney will find some way to prevent owners from just getting 15 extra years for no additional consideration.

I mean Disney said was it was worth when they did it. $25. Bet people would be willing to pay that in 2042.

 

[tom1944]

I mean Disney said was it was worth when they did it. $25. Bet people would be willing to pay that in 2042.

Sure, they would except it was offered how many years prior? Disney will not be held to that price.

 

[RoseGold]

Sure, they would except it was offered how many years prior? Disney will not be held to that price.

They set the price. They run the joint, It was their job to collect it. So collect it?

 

[tom1944]

I will offer long odds that this does not happen. It may be messy, but I suspect Disney will find some way to prevent owners from just getting 15 extra years for no additional consideration.

If Disney rejects the use of those points people have to sue to enforce their interpretation the contract. That gets more expensive for individual's than it does for Disney.


I am not sure a lawyer can see much of a contingency arrangement so I would expect they would want a payment to represent you.

If I was a 2042 owner, you would have a tough time convincing me that I had a good case. Especially if you wanted money from me to litigate it.

 

[tom1944]

They set the price. They run the joint, It was their job to collect it. So collect it?

They don't have to collect it. In 2042 they just deny use of the points and stop assessing you the dues.

 

[RoseGold]

They don't have to collect it. In 2042 they just deny use of the points and stop assessing you the dues.

So... Unilaterally modify 1990s-2006 purchase contracts and ignore their own 2007 lease? This is way more complicated than that. I have no idea what will happen, but I know Disney doesn't back off often, and they backed off on this one. They backed off on the quitclaims, and they backed off on the special assessment, which they gave notice for in 2007.

They did announce they would calculate dues differently, who knows which category the non-signers are in.

 

[RoseGold]

If Disney rejects the use of those points people have to sue to enforce their interpretation the contract. That gets more expensive for individual's than it does for Disney.


I am not sure a lawyer can see much of a contingency arrangement so I would expect they would want a payment to represent you.

I can promise you someone is already ready to fight this in 2042. People had lawyer letters and had lawyers involved when this was done. If I were a non-signer, I would be confident someone is doing something.

And if not, I guess it expires.

 

[tom1944]

I do not see how they are modifying the contract. They leave the contract intact for anyone that did not purchase the extension.

If you purchased the extension, you modified your contract at that time.

Neither party can modify the contract unilaterally.

 

[tom1944]

I can promise you someone is already ready to fight this in 2042. People had lawyer letters and had lawyers involved when this was done. If I were a non-signer, I would be confident someone is doing something.

And if not, I guess it expires.

Someone is always willing to fight. Letters from lawyers are cheap. Litigating is expensive.

Disney controls the use of the points. After that it would be up to the 2042 owner to pay an attorney to actually do more then send a letter.

 

[Sandisw]

I will offer long odds that this does not happen. It may be messy, but I suspect Disney will find some way to prevent owners from just getting 15 extra years for no additional consideration.

Possibly for sure, but legally, the POS states it is now a 2057 contract, which is why owners need to sign the quit claim deed so those go back to Disney.

Now, I think there will be plenty that might want to just give it back to DVD at that time, but I still think it is going to be messy for DVD to handle it and any owner who wants to still use it and pay fees might be seen as a benefit for DVD then stopping those owners from use...which means they have to cover the shortfall of all lthose contracts because IIRC, there was a lawsuit in which they agreed that owners who are extended to 2057 can not be forced to pay additional MFs to account for those contracts that were given back to Disney.

 

[Sandisw]

I do not see how they are modifying the contract. They leave the contract intact for anyone that did not purchase the extension.

If you purchased the extension, you modified your contract at that time.

Neither party can modify the contract unilaterally.

When they extended the ground lease to 2057, they DID change the POS. The contract was extended for all owners.

That is why what DVD sells ends in 2057 because that is when the resort now expires. And, DVD has the right to change the POS and they did....that is why this will be a mess and why they did what they did in terms of quit claim deeds.