# New Resale Restrictions - now confirmed by DVC



## ljmiii (Jan 6, 2019)

Unconfirmed by DVC as of yet...but the Disney rumor mill is abuzz.

Basically, the claim is that as of January 19th new resale contract buyers will not be able to use their points to stay at the Riviera Resort and any future DVC resorts.

However, the news is far worse for prospective Riviera buyers. If they try to sell their contract the resale buyers will be unable to use their points to stay at ANY of the 14 existing resorts.

I was playing with the idea of adding on at Riviera to own an EPCOT/HS resort that didn't expire in 2042. But no way would I drive that dog off the lot knowing its value would plummet so drastically.

https://www.dvcresalemarket.com/blog/new-dvc-resale-restrictions-and-who-is-most-impacted/


----------



## TheHolleys87 (Jan 6, 2019)

Yes, it will be interesting to see how this plays out. I’m wondering whether DVD is creating a DVC II for Riviera, Reflections and future resorts, with DVC II having an exchange agreement with DVC I that allows only direct buyers and grandfathered resale buyers of DVC I to exchange into DVC II and only direct DVC II buyers to exchange in to DVC I. I don’t think they have to do so, because each DVC resort is an independent condominium association which I would assume could establish its own exchange criteria, but it seems it would be easier if the new resorts were part of the same larger association going forward. A DVC II might also allow for resale buyers of DVC II resorts to exchange into future DVC II resorts as that system grows, even though they can’t exchange into DVC I. 

I feel that DH and I are fortunate to have owned and enjoyed DVC for 20+ years. We’re not in the market for more points, and we’re happy to stay at our home resort, so we can just sit back and watch what develops. I’m so glad we’re not making a decision about buying now!


----------



## elaine (Jan 7, 2019)

based upon the new restrictions, I'd much rather have a resale "old" DVC resort that I can trade within the other 14 DVCs than Riviera, where resales are limited to R. I'm just fine with 14 "old" flavors. Plus, I can only imagine the points structure for R.
I think most DVC direct purchasers will gloss over the resale restrictions, as they are dreaming of DVC vacations and not a exit strategy. Kinda sad, bc DVC held or increased value, so exit was not a financial hit--unlike most other TS. Likely no so anymore with that big restriction.


----------



## TravelTime (Jan 7, 2019)

I wonder if this will kill the resale prices for DVC. I would think it will now be a lot harder to sell DVC contracts and prices may plummet. I had been thinking of selling in a couple of years but now it is probably more valuable for me to keep my points and rent them out when I do not use them.

According to DVC News:

Effective *January 19, 2019*, new resale purchases for the fourteen current DVC properties can only be used at those 14 resorts. Resale points purchased after that date will not be eligible for reservations at Disney's Riviera Resort, Reflections, A Disney Lakeside Lodge or any other future *Disney Vacation Club* property. 

An official statement posted to *DVCMember.com* confirms this intent:

Effective January 19, 2019, only Members who purchase directly from Disney will be able to use their Vacation Points at the 14 existing Disney Vacation Club Resorts or future Resorts—such as Disney’s Riviera Resort or Reflections – A Disney Lakeside Lodge. Resale contracts purchased for the existing 14 Disney Vacation Club Resorts will only be able to exchange Points into those 14 Resorts.

This change does not apply to contracts purchased prior to January 19, 2019. Contracts gifted to family members will continue to have the same Resort access as before the ownership transfer.

The eligibility rules for Membership Extras and RCI access remain unchanged.

The Buena Vista Trading Company Disclosure Guide has been amended accordingly.

https://dvcnews.com/index.php?optio...n-based-resale-restrictions&catid=29:policies


----------



## TheHolleys87 (Jan 7, 2019)

It will be interesting to watch how this plays out, for sure.  Since post-1/19/19 resale buyers will still be able to trade into the 14 existing resorts, I'm not sure how much of a detriment that will be to them.  

The big question in my mind is whether resale buyers at Riviera will be restricted to staying at Riviera, which is the current rumor but makes no sense in my mind because if Riviera owners can't trade out, then owners at other resorts can't trade in.  So I'm wondering whether Riviera will be the first of the "DVC II" resorts which will trade among themselves (including those who buy resale at Riviera, Reflections and future resorts) and will also let direct and grandfathered DVC I owners trade in (allowing direct DVC II owners to trade into DVC I if they want to stay at one of the 14 original resorts).  However, I have no idea what they're really going to do and am looking forward to finding out.  And I am even more happy now that we have not been contemplating adding on anywhere!

My big hope with Riviera is that our 300 BWV points will cover a couple or three nights in the rumored 2-person studios there!


----------



## TravelTime (Jan 7, 2019)

As I read about the changes in the DVC model, I am thinking that this could be a model for what Marriott does when it integrates with Vistana.


----------



## TravelTime (Jan 7, 2019)

This is now confirmed. I logged into my DVC account and the message was posted there. The good thing is that resale purchasers of the original 14 resorts will still be able to internally exchange into those 14 resorts. Only the new resorts sold on the resale market will be limited to staying in their home resort. So I suspect this may make resales of the original 14 resorts more valuable than resales of the new resorts. This reminds me of the way Vistana distinguishes between mandatory and voluntary resorts. In effect, resales of the 14 original resorts would be “mandatory” resorts in the Vistana model.


----------



## dioxide45 (Jan 7, 2019)

This kind of sounds like the Vistana mandatory vs voluntary model. The older Starwood built resorts are mandatory and must be in the VSN and can use StarOptions. Older Vistana built resorts are voluntary as are the newer built resorts. Seems that Riviera is going to be the equivalent to a voluntary resort in the Vistana model. Though somewhat different as future resale buyers at all the other resorts won't be able to exchange in. It seems like they are perhaps setting up a new exchange company/program to handle Riviera in order to lock out other resale buyers?

I think this will negatively impact resale value at Riviera, allowing DVC to snap them up cheap through ROFR.


----------



## TravelTime (Jan 7, 2019)

TheHolleys87 said:


> It will be interesting to watch how this plays out, for sure.  Since post-1/19/19 resale buyers will still be able to trade into the 14 existing resorts, I'm not sure how much of a detriment that will be to them.
> 
> The big question in my mind is whether resale buyers at Riviera will be restricted to staying at Riviera, which is the current rumor but makes no sense in my mind because if Riviera owners can't trade out, then owners at other resorts can't trade in.  So I'm wondering whether Riviera will be the first of the "DVC II" resorts which will trade among themselves (including those who buy resale at Riviera, Reflections and future resorts) and will also let direct and grandfathered DVC I owners trade in (allowing direct DVC II owners to trade into DVC I if they want to stay at one of the 14 original resorts).  However, I have no idea what they're really going to do and am looking forward to finding out.  And I am even more happy now that we have not been contemplating adding on anywhere!
> 
> My big hope with Riviera is that our 300 BWV points will cover a couple or three nights in the rumored 2-person studios there!



Owners at Riviera and new resorts will have full privileges at all current and future resorts. Otherwise, who would want to buy at a new resort? I think this new program will make the 14 original resorts more in demand and definitely make the new resorts unattractive on the resale market.


----------



## TravelTime (Jan 7, 2019)

dioxide45 said:


> This kind of sounds like the Vistana mandatory vs voluntary model. The older Starwood built resorts are mandatory and must be in the VSN and can use StarOptions. Older Vistana built resorts are voluntary as are the newer built resorts. Seems that Riviera is going to be the equivalent to a voluntary resort in the Vistana model. Though somewhat different as future resale buyers at all the other resorts won't be able to exchange in. It seems like they are perhaps setting up a new exchange company/program to handle Riviera in order to lock out other resale buyers?
> 
> I think this will negatively impact resale value at Riviera, allowing DVC to snap them up cheap through ROFR.



Do you know the history of why Vistana has manadaory and voluntary resorts? Were the mandatory resorts in existence before the others?


----------



## dioxide45 (Jan 7, 2019)

TravelTime said:


> Do you know the history of why Vistana has manadaory and voluntary resorts? Were the mandatory resorts in existence before the others?


https://tugbbs.com/forums/index.php?threads/history-of-mandatory-vs-voluntary.241011/


----------



## ljmiii (Jan 7, 2019)

TravelTime said:


> I wonder if this will kill the resale prices for DVC...


For the original 14 I don't think it will be much of an issue - it isn't as if Riviera or Reflections have anything going for them other than a better RTU year. But I expect that in a few years you'll be able to buy a Riviera resale contract for a song - it would be awful to find no availability for DVC points that only work at your home resort.


----------



## TravelTime (Jan 7, 2019)

ljmiii said:


> For the original 14 I don't think it will be much of an issue - it isn't as if Riviera or Reflections have anything going for them other than a better RTU year. But I expect that in a few years you'll be able to buy a Riviera resale contract for a song - it would be awful to find no availability for DVC points that only work at your home resort.



As I have been thinking about this, I agree with your assessment. I was worried when I first heard this news that I would lose money if/when I am ready to sell but I think the fact that resale buyers can still exchange into 14 resorts will help maintain the resale value for the original 14 resorts. 

I agree that the resale market for the new resorts is at risk and would certainly cause knowledgeable people to question buying at one if resale is on their mind. However, some people will not care since I assume Riviera and the new resorts will have different benefits than the original resorts in order to make the new resorts attractive. If they make the new benefits good enough, and the people buying are planning to use their points and not sell quickly, then the new system may be okay.

I am glad they grandfathered in existing DVC owners since we will have the best of all worlds.


----------



## ljmiii (Jan 7, 2019)

TravelTime said:


> However, some people will not care since I assume Riviera and the new resorts will have different benefits than the original resorts in order to make the new resorts attractive...


Since the news broke I've been thinking about what might tempt me into buying at a new resort (other than the price) even if a resale buyer could only book at that resort. And really it came down to the old favorites...location, location, and location.  So...

If the rumored hotel/resort at the front entrance to EPCOT was DVC I might buy there.  Or if they built one with a 'back entrance' into AK.  Or better yet a Star Wars themed one with a 'back entrance' into Galaxy's Edge at HS.  But right now they have...

Riviera - All the themeing of BLT without any of the convenience of walking to the Magic Kingdom. Or access to the Contemporary and the other Monorail resorts. But we do have an enclosed, non-A/C'd Skyride!

Reflections - As you look over to the ghost of Discovery Island from the grave of River Country you can reflect on Disney's desperate need for a new theme park. But we built this instead - so enjoy our newest Lodge on Bay Lake. Kind of like the first one except farther away.


----------



## montygz (Jan 7, 2019)

dioxide45 said:


> This kind of sounds like the Vistana mandatory vs voluntary model. The older Starwood built resorts are mandatory and must be in the VSN and can use StarOptions. Older Vistana built resorts are voluntary as are the newer built resorts. Seems that Riviera is going told be the equivalent to a voluntary resort in the Vistana model. Though somewhat different as future resale buyers at all the other resorts won't be able to exchange in. It seems like they are perhaps setting up a new exchange company/program to handle Riviera in order to lock out other resale buyers?
> 
> I think this will negatively impact resale value at Riviera, allowing DVC to snap them up cheap through ROFR.



It could be the most profitable DVC resort ever for Disney. They will be able to flip points there via ROFR for years.


----------



## amycurl (Jan 7, 2019)

“The grave of River Country...” HA!! I cannot love this post enough...


Sent from my iPad using Tapatalk


----------



## Dean (Jan 8, 2019)

TravelTime said:


> I wonder if this will kill the resale prices for DVC. I would think it will now be a lot harder to sell DVC contracts and prices may plummet. I had been thinking of selling in a couple of years but now it is probably more valuable for me to keep my points and rent them out when I do not use them.
> 
> According to DVC News:
> 
> ...


Unlikely, it might boost them temporarily but likely won't hurt them for some time.  Eventually that may or may not change but I doubt it'll have much impact.  Very few people even consider resale before buying and very few worry about an exist strategy (right or wrong).



TravelTime said:


> As I read about the changes in the DVC model, I am thinking that this could be a model for what Marriott does when it integrates with Vistana.


It's really similar in many ways to when Marriott started the Trust system.


----------



## bogey21 (Jan 8, 2019)

What I don't like is the way those who sell us Timeshare Weeks, entice us with airline miles, frequent stayer programs or whatever change the rules and devalue their product.  When Marriott did this to me many, many years ago I sold my 4 Marriott Weeks.  When Southwest Airlines switched from Segments to Miles, I stopped flying them.  When Hilton devalued their frequent stayer program I stopped staying at Hilton hotels.  I won't bore you with other examples.  I know they don't care but I do...

George


----------



## TravelTime (Jan 8, 2019)

bogey21 said:


> What I don't like is the way those who sell us Timeshare Weeks, entice us with airline miles, frequent stayer programs or whatever change the rules and devalue their product.  When Marriott did this to me many, many years ago I sold my 4 Marriott Weeks.  When Southwest Airlines switched from Segments to Miles, I stopped flying them.  When Hilton devalued their frequent stayer program I stopped staying at Hilton hotels.  I won't bore you with other examples.  I know they don't care but I do...
> 
> George



Pretty soon you will have no place to go...LOL (just kidding)


----------



## RX8 (Jan 8, 2019)

Two thoughts

#1 did DVC swipe the Westgate handbook on how to devalue resale contracts?  What’s next, hiding the documents in the seam of a binder?

#2 this may make it more difficult to book all other resorts at the 7 month mark.  While all Riviera DVC direct owners be able to use their points at the other resorts only select DVC owners will be able to use their points at Riviera. Therefore, more people competing for the other existing 14 resorts.


----------



## nomoretslt (Jan 8, 2019)

ljmiii said:


> Reflections - As you look over to the ghost of Discovery Island from the grave of River Country you can reflect on Disney's desperate need for a new theme park. But we built this instead - so enjoy our newest Lodge on Bay Lake. Kind of like the first one except farther away.



LOL...best thing I've read in a long time.  Reflections looks hideous IMO....nothing like the lodge.  River Country was so much fun, but then they had that amoeba problem.  Discovery Island was such a gem...loved that place.  Now its a haven for scary giant black bird creatures.  I keep wondering when they will do something with that place.  Would make a cool restaurant location.


----------



## Panina (Jan 9, 2019)

RX8 said:


> Two thoughts
> 
> #1 did DVC swipe the Westgate handbook on how to devalue resale contracts?  What’s next, hiding the documents in the seam of a binder?
> 
> #2 this may make it more difficult to book all other resorts at the 7 month mark.  While all Riviera DVC direct owners be able to use their points at the other resorts only select DVC owners will be able to use their points at Riviera. Therefore, more people competing for the other existing 14 resorts.


I have been tempted to buy DVC, glad I didn’t.  It’s a shame, they have overall been the best to  their members. It does look like the start of devaluing resale contracts and booking will at some point be harder for some.


----------



## TravelTime (Jan 9, 2019)

I think Marriott started the devaluation trend in 2010. I imagine the next in line for devaluation will be Vistana and Hyatt.

OTOH, maybe this is what happens when the resale market gets too strong. The developers find ways to kill it.

However, this may present future resale buying opportunities for people who would not buy at current resale or developer prices.


----------



## Jason245 (Jan 9, 2019)

Personally I think this is just a function of expiration dates of contracts.  If memory serves me.. arnt most of the original 14 over or nearly over the half way point? 

I am guessing/hoping that they are going to start letting the floor fall on resale prices on those since they are going to be getting them all back anyways within 25 years..

At which point they can sell them brand new all over again as part of their new system for the resorts they chose

I know that a number of the die hard original owners were opposed to Dvc locations outside of the vicinity of parks trading into park resorts... this is the "fix" 

Sent from my SM-N950U using Tapatalk


----------



## RX8 (Jan 9, 2019)

TravelTime said:


> OTOH, maybe this is what happens when the resale market gets too strong. The developers find ways to kill it.



With a strong resale market leading to higher resale prices, the developer wins by happy customers and smaller spread between resale and retail prices.  DVC likely has the highest number of experienced and knowledgeable timeshare owners who repeatedly buy direct from DVC. They don’t mind the “small” premium for the direct perks. These restrictions, along with the upcoming direct price increases, likely hurts the resale values and diminishes their direct customer base.


----------



## Dean (Jan 9, 2019)

Jason245 said:


> Personally I think this is just a function of expiration dates of contracts.  If memory serves me.. arnt most of the original 14 over or nearly over the half way point?
> 
> I am guessing/hoping that they are going to start letting the floor fall on resale prices on those since they are going to be getting them all back anyways within 25 years..
> 
> ...


The current resorts vary.  5 of the 14 (2 off site) have a Jan 2042 ending so 23 years or so.  The next one to end is SSR and it's 2054 then AKV & OKW at 2057 and so on.  Of the older resort, only OKW has been extended.  This makes an extension for the current resorts unlikely unless it's in the new system with the new restrictions.


----------



## bendadin (Jan 9, 2019)

I am hoping that DVC just draws one line in the sand. There are so many dates with this restriction or that restriction. It is rather a pain to keep up with. 

I'm not interested in buying in the new category. And I'm not opposed to selling the resale that I own to buy another direct contract, though. When I first purchased in 2015, use years and home resorts didn't mean all that much to me. Now I see that they are VERY important.


----------



## elaine (Jan 9, 2019)

I think the newer 14 "originals" will be fine. Resales can trade into all of the monorail and Epcot resorts plus uniquely themed AKV with SSR as a back-up. I am also wondering about resorts when they hit 20 years left to expire. I see them ticking downward with the newer ones holding steady.
We're still talking resale prices at nearly 50% off direct purchase. I think for a family with a number cruncher (which resale purchasers tend to do), giving up Riviera, etc. is a more than decent trade off.  Just like those who buy SSR due to low cost. Certainly would be for our household.


----------



## littlestar (Jan 9, 2019)

I would not touch a Riviera contract with a ten foot pole. I would rather book Port Orleans French Quarter on cash with my annual pass discount for a few nights to treat the grandkids and then move over to a Marriott timeshare for the week. 

We have discussed all these changes with our grown kids that DVC has been making. Our oldest daughter said “I don’t get it because if a Riviera resale buyer can only stay at Riviera, how will they ever fall in love with another resort if they can’t try it out?”  She was thinking of all our DVC add-on’s through the years after great vacations at the different DVC locations.


----------



## elaine (Jan 9, 2019)

yep--we traded VWL DVC into OKW, BWV, AKV, and HHI, with BCV booked for April. That's one of the things I love most about DVC--each resort is a totally different experience, so it never gets old.


----------



## TravelTime (Jan 9, 2019)

Jason245 said:


> Personally I think this is just a function of expiration dates of contracts.  If memory serves me.. arnt most of the original 14 over or nearly over the half way point?
> 
> I am guessing/hoping that they are going to start letting the floor fall on resale prices on those since they are going to be getting them all back anyways within 25 years..
> 
> ...



No many of the original 14 are still pretty new and opened in the past 10 years. Copper Creek just opened. The older ones are OKW, SSR, BWV, and BCV but they still have 25-30+ or so years left, expirations vary. See Dean’s more precise reply.


----------



## rhonda (Jan 9, 2019)

TravelTime said:


> No most of the original 14 are still pretty new and opened in the past 10 years. Copper Creek just opened. T*he really old ones are SSR and OKW *but they still have 25-30+ or so years left, expirations vary. See Dean’s more precise reply.


Agreed, go see Dean's post.  Your claim in bold is simply incorrect.  The _first round_ to expire in *2042* will include HHI, VB, BWV & BC.  SSR doesn't expire until *2054* and OKW until *2057*.


----------



## TravelTime (Jan 9, 2019)

rhonda said:


> Agreed, go see Dean's post.  Your claim in bold is simply incorrect.  The _first round_ to expire in *2042* will include HHI, VB, BWV & BC.  SSR doesn't expire until *2054* and OKW until *2057*.



I corrected my post to include BWV and BCV. I was just giving a general answer and not a precise answer. That is why I referred to Dean's post. There may still people with an older expiring contract at OKW, I think, but not sure. My point is the DVCs are not expiring all that soon.


----------



## Jason245 (Jan 10, 2019)

TravelTime said:


> I corrected my post to include BWV and BCV. I was just giving a general answer and not a precise answer. That is why I referred to Dean's post. There may still people with an older expiring contract at OKW, I think, but not sure. My point is the DVCs are not expiring all that soon.


20 to 25 years is soon when you are talking about 50 year contacts.    

At least if they are developing long term plans that involve major renovations and resale as new of those resorts as they expire.. 

I imagine that it will take them at least 6 months to renovate once a DVC resort expires and all that inventory comes back to them.. probably at least that long if not even longer for them to sell it out again..

Sent from my SM-N950U using Tapatalk


----------



## TravelTime (Jan 13, 2019)

I have been hitting my head against the wall trying to figure out Disney’s strategy for limiting resales to only the 14 original resorts and eventually to only the home resort purchased. This sounds like a dumb idea to me. If I can buy Riviera on the resale market for 1/10 the price of retail due to these limitations, then I would be more likely to buy it resale. This will make it harder IMO to sell direct because the word will get out about how cheap it is to buy resale. I think it is in DVC’s best interests for resale prices to remain high relative to buying direct. Also, if pricing of DVC on the resale market collapses, Disney will start attracting a clientele who is cheaper and less willing to spend as much. From what I can see, that is not DVC’s target market. I think it is in DVC’s best interests to ensure resale prices are high for all of these reasons.

Right now, with resale being so expensive, it sometimes still makes sense to buy direct. The bigger the price differential, the more likely people like us would buy resale. I would not be able to justify a retail purchase that is 10 times higher than resale. I can justify a retail purchase if it is only 20-30% higher, like many of the current resorts are now. I actually bought about half my points direct from DVC in the past for my small contracts (30-75 points) because the price differential was not that big. For my bigger contracts, I purchase resale since the price differential is bigger. In the future, I doubt I will ever buy direct again because of these changes. Riviera would have to be pretty amazing for me to want to stay there over the places I already own. But if I could get Riviera for 10%-30% of the retail price, I might be enticed, even if I could only stay at that one resort.


----------



## Dean (Jan 13, 2019)

TravelTime said:


> I have been hitting my head against the wall trying to figure out Disney’s strategy for limiting resales to only the 14 original resorts and eventually to only the home resort purchased. This sounds like a dumb idea to me. If I can buy Riviera on the resale market for 1/10 the price of retail due to these limitations, then I would be more likely to buy it resale. This will make it harder IMO to sell direct because the word will get out about how cheap it is to buy resale. I think it is in DVC’s best interests for resale prices to remain high relative to buying direct. Also, if pricing of DVC on the resale market collapses, Disney will start attracting a clientele who is cheaper and less willing to spend as much. From what I can see, that is not DVC’s target market. I think it is in DVC’s best interests to ensure resale prices are high for all of these reasons.
> 
> Right now, with resale being so expensive, it sometimes still makes sense to buy direct. The bigger the price differential, the more likely people like us would buy resale. I would not be able to justify a retail purchase that is 10 times higher than resale. I can justify a retail purchase if it is only 20-30% higher, like many of the current resorts are now. I actually bought about half my points direct from DVC in the past for my small contracts (30-75 points) because the price differential was not that big. For my bigger contracts, I purchase resale since the price differential is bigger. In the future, I doubt I will ever buy direct again because of these changes. Riviera would have to be pretty amazing for me to want to stay there over the places I already own. But if I could get Riviera for 10%-30% of the retail price, I might be enticed, even if I could only stay at that one resort.


There are 2 ways to differentiate, price and options.  And with options one can add to the in group or take away from the out group.  In addition one can sell using sales techniques that maximize sales per tour and minimizes the chances someone will walk away, esp making it an emotional purchase.  It's really not in DVD's best interest for resale prices to be high.  The best case scenario from their standpoint is the perception of the ability to sell but the reality that one effetely cannot sell.  EVERY single resale is a potential lost retail sale even if the buyer says they wouldn't have bought retail.


----------



## TravelTime (Jan 13, 2019)

Dean said:


> There are 2 ways to differentiate, price and options.  And with options one can add to the in group or take away from the out group.  In addition one can sell using sales techniques that maximize sales per tour and minimizes the chances someone will walk away, esp making it an emotional purchase.  It's really not in DVD's best interest for resale prices to be high.  The best case scenario from their standpoint is the perception of the ability to sell but the reality that one effetely cannot sell.  EVERY single resale is a potential lost retail sale even if the buyer says they wouldn't have bought retail.



I am sure you are right and this is DVC’s rationale.


----------



## Lisa P (Jan 13, 2019)

TravelTime said:


> If I can buy Riviera on the resale market for 1/10 the price of retail due to these limitations, then I would be more likely to buy it resale.


If DVC exercises ROFR on every dirt cheap resale contract, they are able to resell those points as "direct purchase" and they will have a steady stream of developer points to sell without the higher cost of building more new properties. Even if they are not able to raise prices on direct purchase Riviera points over time, as they have with other resorts, this could be a new business strategy.



TravelTime said:


> I think it is in DVC’s best interests to ensure resale prices are high...


If a Riviera member/seller actually finds a resale buyer who is willing to buy a restricted contract at a high price, DVC would let it pass anyhow. This is definitely a different approach... and not a good one for new resort buyers, IMO. As a business, this is just another angle, with Disney's primary goal: Turn a profit.


----------



## Dean (Jan 13, 2019)

TravelTime said:


> I am sure you are right and this is DVC’s rationale.


They'll likely do a combination of the 3 with several variations and nuances.  Sales wise they'll do what timeshare sales always does, spin it as a positive, as they should it's their job.


----------



## TravelTime (Jan 13, 2019)

The resale restrictions for Riviera have not yet been announced by Disney. It appears likely though.


----------



## DannyTS (Jan 13, 2019)

Up to a point, the developers love low resale prices, they are an endless pipeline of cheap inventory. Not only that they spend less money on ROFR but somebody with a low value contract is more likely to default on payments so the developer can acquire the contract virtually for free.

DVC decided  to follow the competition instead of continuing to lead. It is very sad in my opinion.


----------



## ljmiii (Jan 13, 2019)

Message deleted


----------



## Panina (Jan 13, 2019)

DannyTS said:


> Up to a point, the developers love low resale prices, they are an endless pipeline of cheap inventory. Not only that they spend less money on ROFR but somebody with a low value contract is more likely to default on payments so the developer can acquire the contract virtually for free.
> 
> DVC decided  to follow the competition instead of continuing to lead. It is very sad in my opinion.


Dvc has been considered the best to buy in the past, unfortunately they decided they can change and devalue members ownership because everyone else is doing it too.

If the new resort purchased from dvc can trade into the original 14, in time,  it will be much harder to get what one wants for those who own the 14.  Once word gets out, resale values will go down.  This is also a push to get the 14 to buy into the new resorts.  

I doubt this is the end of the new rules, it is probably the beginning.  I do not know what is stated in the contract for the 14.  If somehow it allows resales to be excluded from internal trading of the 14 in time it will happen.  

My thought is with the push for companies to give their members a way to get out of ownership, as we are seeing with ARDA’s new website https://responsibleexit.com/ , if they participate they would want to get them as cheap as possible.  Changing rules which causes resale values to descrease significantly is a win for the developer.  Most people know nothing of a resale market and just buy from the developer so the developer really doesn’t care if resale value is zero.


----------



## littlestar (Jan 13, 2019)

[QUOTE="Panina, post: 2235233, member: 82837"
I doubt this is the end of the new rules, it is probably the beginning.  I do not know what is stated in the contract for the 14.  If somehow it allows resales to be excluded from internal trading of the 14 in time it will happen.
.[/QUOTE]

My docs show my resorts (Beach Club Villas and Saratoga Springs) are part of “the club” and from the way my documents read it would take expiration of the lease (2042 for BCV and 2054 for SSR) or pretty much a natural disaster to separate my resorts from “the club.”  Sounds like the new upcoming DVC resorts will be worded differently.


----------



## Panina (Jan 13, 2019)

littlestar said:


> [QUOTE="Panina, post: 2235233, member: 82837"
> I doubt this is the end of the new rules, it is probably the beginning.  I do not know what is stated in the contract for the 14.  If somehow it allows resales to be excluded from internal trading of the 14 in time it will happen.
> .



My docs show my resorts (Beach Club Villas and Saratoga Springs) are part of “the club” and from the way my documents read it would take expiration of the lease (2042 for BCV and 2054 for SSR) or pretty much a natural disaster to separate my resorts from “the club.”  Sounds like the new upcoming DVC resorts will be worded differently.[/QUOTE]

So far good.  Is there any reference about resale or rules allowed to change?


----------



## TravelTime (Jan 13, 2019)

As long as the DVC “club” is in our contracts and assuming it is a right, not a privilege (I have not yet double checked my contracts), then buying into the original 14 should be good now and in the future. Current owners are all grandfathered so we are not losing anything we bought. Right now, people are snapping up all the contracts and the prices are not so inflated actually. I think prices fell a bit before the holidays since there was suddenly a flood of people wanting out, probably due to the higher MFs and point chart changes. I suspect that resale prices at the 14 will maintain themselves. If Riviera actually does restrict resale to your home resort, that would make the current 14 resorts more valuable on the resale market. It will be like the mandatory and voluntary resorts at Vistana. It is hard to find a well priced contract with one’s usage year right now at many DVC resorts. It will be interesting to see what happens after Jan 19.

I keep thinking that Disney will do something to make Riviera and other new resorts extra special. Maybe they will allow the new resorts to trade in DVC2? Or maybe RCI will be enhanced so DVC owners can exchange. Right now, we can’t trade back into DVC using RCI. I still have hope that the Disney imagineers are being strategic and not only looking at short term revenue gains. I will keep my fingers crossed.


----------



## littlestar (Jan 13, 2019)

Panina said:


> My docs show my resorts (Beach Club Villas and Saratoga Springs) are part of “the club” and from the way my documents read it would take expiration of the lease (2042 for BCV and 2054 for SSR) or pretty much a natural disaster to separate my resorts from “the club.”  Sounds like the new upcoming DVC resorts will be worded differently.



So far good.  Is there any reference about resale or rules allowed to change?[/QUOTE]

It basically says my ownership in “the club” depends on owning a resort in the club and they go together.


----------



## Panina (Jan 13, 2019)

littlestar said:


> So far good.  Is there any reference about resale or rules allowed to change?



It basically says my ownership in “the club” depends on owning a resort in the club and they go together.[/QUOTE]
Very good news.  Seems they can’t change the 14 so they are creating a new system probably to maximize their future profits.


----------



## Dean (Jan 14, 2019)

There are rules that allow changes but all of the current resorts in the club are available subject to the rules of exchange unless they exit the club either by disaster or being removed for some other reason.  But as I read it, the resorts in the DVC will be technically available to exchange to within the "current" rules.  And any resort added to the club will be the same so the new resorts will have to be a new system with a crossover.


----------



## Lisa P (Jan 14, 2019)

TravelTime said:


> The resale restrictions for Riviera have not yet been announced by Disney. It appears likely though.


I'm not aware of a press release so far and I doubt they will actually have one. But apparently, they have made it officially clear to their media contacts:

https://www.wdwinfo.com/news-storie...le-contract-limitations-beginning-january-19/
https://insidethemagic.net/2019/01/ba1-dvc-resale-changes/
https://wdwnt.com/2019/01/new-limitations-placed-on-disney-vacation-club-resale-contracts/


----------



## SueDonJ (Jan 14, 2019)

Hmmmm. This type of restriction is something that _some_ Marriott sales reps have been threatening new Destination Club Points buyers with almost since the day Marriott introduced its points system (6/20/10) but as yet, it hasn't been implemented. We'll have to watch closely now that DVC has joined the ranks because the DC governing docs certainly allow for it. Grrrrrrrr.


----------



## TravelTime (Jan 14, 2019)

Lisa P said:


> I'm not aware of a press release so far and I doubt they will actually have one. But apparently, they have made it officially clear to their media contacts:
> 
> https://www.wdwinfo.com/news-storie...le-contract-limitations-beginning-january-19/
> https://insidethemagic.net/2019/01/ba1-dvc-resale-changes/
> https://wdwnt.com/2019/01/new-limitations-placed-on-disney-vacation-club-resale-contracts/



The actual announcement to current DVC owners did not say anything about how Riviera will be limited for resale. It only said that the resale buyers of the 14 original resorts will not be able to trade into new resorts if purchased after Jan 19. As I understand, the DVC Guides are telling people that Riviera will have resale restrictions. The first link you posted is the actual notification that DVC released. If you re-read it, you will see what I mean. I am assuming the the Guides are releasing accurate information. I spoke to a Guide and he confirmed the Riviera resale restriction. I was also told that a large price increase will be announced on Jan 16 for the existing 14 resorts.


----------



## ljmiii (Jan 14, 2019)

SueDonJ said:


> Hmmmm. This type of restriction is something that _some_ Marriott sales reps have been threatening new Destination Club Points buyers with almost since the day Marriott introduced its points system (6/20/10) but as yet, it hasn't been implemented. We'll have to watch closely now that DVC has joined the ranks because the DC governing docs certainly allow for it. Grrrrrrrr.


I'm not sure I understand. DPs aren't tied to any location - they are all itty-bitty portions of the overall Trust. (Which I know you know...I just don't understand what you are getting at).

I more see DVC following in MVCI's footsteps. When MVCI announced the DP program I assumed (as did many others) that it would be like HGVC where points were immutably tied to weeks and 'points in equals points out'. HA!  Instead MVCI created an money making machine. By stripping resale weeks of their DP value and heavily 'taxing' resale DPs, MVCI drove down the price of resale weeks and points thus allowing them to buy them cheaply and then resell them for full price. "ROFR then resale" is much more profitable than "Develop and sell".

DVC will now be able to do this with Riviera, Reflections, the other resorts they build before 2042, and then as contracts mature and get reissued with new language all the 'original 14' as well.


----------



## SueDonJ (Jan 14, 2019)

ljmiii said:


> I'm not sure I understand. DPs aren't tied to any location - they are all itty-bitty portions of the overall Trust. (Which I know you know...I just don't understand what you are getting at).
> 
> I more see DVC following in MVCI's footsteps. When MVCI announced the DP program I assumed (as did many others) that it would be like HGVC where points were immutably tied to weeks and 'points in equals points out'. HA!  Instead MVCI created an money making machine. By stripping resale weeks of their DP value and heavily 'taxing' resale DPs, MVCI drove down the price of resale weeks and points thus allowing them to buy them cheaply and then resell them for full price. "ROFR then resale" is much more profitable than "Develop and sell".



Years before Marriott's points system was implemented the rumors were all over the place and many of us were hopeful that it wouldn't be a completely separate system from existing Weeks, that it would provide some kind of internal exchange opportunity for those Weeks. I was among those who wanted that but fully expected it to come at a price, because why else would Marriott do it and II certainly comes at a price. The metric we use to determine whether there's value in enrolling Weeks is how our particular ownership exchange value in the DC compares to that from II, and for many of us Marriott's DC comes out ahead.

As for resale values and ROFR opportunities, Marriott had never guaranteed that they'd always exercise ROFR and thus prop up resale values, and they'd never prioritized protecting any resale values for owners over their bottom line. No doubt the DC introduction has had some impact on resale values but the primary reason it was introduced was because the Weeks system wasn't going to be sustainable forever, not with new development costs skyrocketing and low-usage-value unsold Weeks at existing resorts being a constant drag on Marriott. It sure didn't help that the years-long-rumored Marriott point system was coincidentally implemented during an economic downturn.



ljmiii said:


> DVC will now be able to do this with Riviera, Reflections, the other resorts they build before 2042, and then as contracts mature and get reissued with new language all the 'original 14' as well.



The comparison I'm making between what DVC will now apparently be doing and what _some_ Marriott sales reps have been claiming will be done but which isn't being done yet (although it's allowable based on the DC gov docs,) is restricting exchanges by resale owners among only certain resorts. Until now any resale DVC owners have been allowed to exchange throughout the entire system based on how many Points are owned and how many it costs for specific stays, with only home/away resort reservation windows and availability restrictions, so I'd say this new thing is certainly a drastic change.

Marriott DC members/owners deal with similar owned Points/reservation window/Points Chart requirements/availability restrictions. But since the Marriott DC inception the constant nonexistent threat is that any new properties brought onboard (whether ground-up development or via licensing) would be restricted to only those who purchased already-enrolled Weeks direct or Trust Points direct, or, only those who purchase Trust Points direct after the property is brought onboard. That hasn't been the case with any new properties but if/when Marriott implements any of these or any other resort-specific restrictions, I'll call that a drastic change, too. For now and hopefully continuing (although DVC's inroads here aren't a good harbinger) it's just something to think about and not something to deal with.


----------



## tschwa2 (Jan 14, 2019)

Although Marriott charges a lot to activate/transfer resale trust point they have been giving it all the perks of retail purchases.  The other restrictions that they could easily implement (to encourage retail sales) would be to not allow resale to count toward status and to restrict or eliminate the transfer of one time use points (points rentals) between members. This would effect both resale, retail and enrolled members).


----------



## Crafty71 (Jan 14, 2019)

rhonda said:


> Agreed, go see Dean's post.  Your claim in bold is simply incorrect.  The _first round_ to expire in *2042* will include HHI, VB, BWV & BC.  SSR doesn't expire until *2054* and OKW until *2057*.


Only the OKW contracts that purchased the extension expire in 2057...most contracts did NOT purchase the extension and therefore expire in 2042...

I should know...I didn't purchase the extension when it was offered and have purchased several non-extended OKW contracts resale.

Cheers!


----------



## TravelTime (Jan 14, 2019)

Crafty71 said:


> Only the OKW contracts that purchased the extension expire in 2057...most contracts did NOT purchase the extension and therefore expire in 2042...
> 
> I should know...I didn't purchase the extension when it was offered and have purchased several non-extended OKW contracts resale.
> 
> Cheers!



Just curious about the OKW extension. When was it offered and how much did it cost? Maybe they will do this with other DVC resorts. It would be nice to have that option. My resorts all expire in late 2050s and 2060s so I will probably be dead by then. But maybe someone in my family would like to take over our DVC membership. The nice thing is that transferring to family keeps the benefits grandfathered in.


----------



## Crafty71 (Jan 14, 2019)

TravelTime said:


> Just curious about the OKW extension. When was it offered and how much did it cost? Maybe they will do this with other DVC resorts. It would be nice to have that option. My resorts all expire in late 2050s and 2060s so I will probably be dead by then. But maybe someone in my family would like to take over our DVC membership. The nice thing is that transferring to family keeps the benefits grandfathered in.


Honestly...I cannot even remember when it was offered...it was THAT long ago...probably within the first ten (10) years of ownership, so early 2000s...

And I seem to remember that it didn't seem worth it to me (and I am a Disney fan).

Cheers!


----------



## TravelTime (Jan 14, 2019)

So that is interesting that they planned ahead for OKW but then stopped offering extensions. Maybe they were not popular or they just changed direction.


----------



## Dean (Jan 14, 2019)

TravelTime said:


> So that is interesting that they planned ahead for OKW but then stopped offering extensions. Maybe they were not popular or they just changed direction.


I think it was a trial balloon and it failed miserably.  They may offer extensions at some point in some way, likely as a repurchase into the "new system".  We'll see.  The one thing that does is it takes away much of the issues that OKW members might have related to their extension.


----------



## TravelTime (Jan 14, 2019)

ljmiii said:


> I'm not sure I understand. DPs aren't tied to any location - they are all itty-bitty portions of the overall Trust. (Which I know you know...I just don't understand what you are getting at).
> 
> I more see DVC following in MVCI's footsteps. When MVCI announced the DP program I assumed (as did many others) that it would be like HGVC where points were immutably tied to weeks and 'points in equals points out'. HA!  Instead MVCI created an money making machine. By stripping resale weeks of their DP value and heavily 'taxing' resale DPs, MVCI drove down the price of resale weeks and points thus allowing them to buy them cheaply and then resell them for full price. "ROFR then resale" is much more profitable than "Develop and sell".
> 
> DVC will now be able to do this with Riviera, Reflections, the other resorts they build before 2042, and then as contracts mature and get reissued with new language all the 'original 14' as well.



I was wondering the same thing since DVC is still tied to a specific home resort but MVC is a pure points program with no linkage (anymore).

I see the DVC changes more similar to Vistana than to MVC. It seems like the original 14 can be somewhat comparable to mandatory resorts in the Vistana system. Those have held more value than the voluntary resorts on the resale market, esp the platinum weeks that come with SOs resale. I suspect MVC will get rid of this system if they can do it legally. But probably grandfather in existing owners with the internal exchange benefits we have (I hope).

I think all these TS systems should try to keep their programs simple. They are already so complex that it is hard for newbies and folks who do not like details to understand how to use them. Sometimes that leads to unhappiness when owners say they can’t get researvations. This also gives timeshares a bad reputation. I have heard many people say it all sounds good at the presentation and then when you try to book, you can’t get what you were promised. I am not sure I agree since I have been able to get many difficult weeks and reservations but it is the perception. For many people, it is true since they do not understand the supply and demand issues of floating weeks and points systems.

Timeshares seem great for nerds and analytical people who are willing to learn the details and maximize the benefits. Then there are many people who just enjoy the pre-paid vacations and do not care about maximizing. I have met many people like that and, frankly, they are usually happier than me even though I probably get more value. Research says satisficers are happier than maximizers.


----------



## chalee94 (Jan 14, 2019)

TravelTime said:


> So that is interesting that they planned ahead for OKW but then stopped offering extensions. Maybe they were not popular or they just changed direction.



OKW extensions were offered around 2007-2008. I do not think that they planned ahead - some owners have dug in and claimed that DVC did not have a contractual right to charge for an extension, have refused to pay and have claimed that they expect a free extension. For most of us OKW owners, the offer was a waste of time: $25 per point (again 10 years ago - higher in todays dollars) for points that you would not start receiving for about 35 years.

They did offer a discount to $15 per pt if you acted early - but most of us figured we'd still rather buy a small resale with points we could use immediately instead of sending the same amount of money to Disney for a promise of far-future points. Resale prices after the extension confirmed that buyers were only willing to pay a premium of $6-8 per point for 2057 OKW over 2042 OKW.

In any event, OKW as a resort will not expire until 2057. The question is, how much of the resort will Disney own - at this stage, it is suspected that 60-70% of OKW is still in the hands of owners with 2042 contracts. 2042 owners have received assurances that Disney will not charge them capital costs that would benefit post-2042 owners but that is still uncertain. In any event, Disney may have a lot of OKW points in their hands in 2042 - which could be a lot to rent.  But we'll see how it goes...


----------



## TravelTime (Jan 14, 2019)

chalee94 said:


> OKW extensions were offered around 2007-2008. I do not think that they planned ahead - some owners have dug in and claimed that DVC did not have a contractual right to charge for an extension, have refused to pay and have claimed that they expect a free extension. For most of us OKW owners, the offer was a waste of time: $25 per point (again 10 years ago - higher in todays dollars) for points that you would not start receiving for about 35 years.
> 
> They did offer a discount to $15 per pt if you acted early - but most of us figured we'd still rather buy a small resale with points we could use immediately instead of sending the same amount of money to Disney for a promise of far-future points. Resale prices after the extension confirmed that buyers were only willing to pay a premium of $6-8 per point for 2057 OKW over 2042 OKW.
> 
> In any event, OKW as a resort will not expire until 2057. The question is, how much of the resort will Disney own - at this stage, it is suspected that 60-70% of OKW is still in the hands of owners with 2042 contracts. 2042 owners have received assurances that Disney will not charge them capital costs that would benefit post-2042 owners but that is still uncertain. In any event, Disney may have a lot of OKW points in their hands in 2042 - which could be a lot to rent.  But we'll see how it goes...



Why would OKW owners think they should get a free extension? OKW was the first DVC, is that correct? Maybe owners did not realize how successful DVC would become. $15 pp for an extension was a great deal.


----------



## Lisa P (Jan 14, 2019)

TravelTime said:


> The actual announcement to current DVC owners did not say anything about how Riviera will be limited for resale. It only said that the resale buyers of the 14 original resorts will not be able to trade into new resorts if purchased after Jan 19. As I understand, the DVC Guides are telling people that Riviera will have resale restrictions. The first link you posted is the actual notification that DVC released. If you re-read it, you will see what I mean.


Yes, but it's not just the Guides. The second link posted says "In addition to this change, Disney also revealed that those who purchase points for future DVC Resorts from a reseller will be limited to using their points at their home resort. For example, if you purchase *points from a resale broker for Disney’s Riviera Resort,* you will be restricted to using your points at Disney’s Riviera Resort only, and *you will be unable to use your points at any other DVC Resort*."

The third link posted says, "Once sales for the *Riviera Resort* begin, those who purchase a contract for that resort on the *resale* market *will be limited to staying only at that resort*." They go on to elaborate.

This kind of restriction does not really imply that future resorts would be their own group, like a DVC2, but that they would be treated as isolated resort entities with developer points able to access additional affiliate privileges. Peculiar. If they treat access to other resorts as an extra benefit rather than as inherent to the system, they may remove extra benefits at will.


----------



## Lisa P (Jan 14, 2019)

chalee94 said:


> OKW as a resort will not expire until 2057. The question is, how much of the resort will Disney own - at this stage, it is suspected that 60-70% of OKW is still in the hands of owners with 2042 contracts. ... Disney may have a lot of OKW points in their hands in 2042 - which could be a lot to rent.


I've often wondered what Disney could legally do, given how the OKW contracts are written. For example, could they say that the Miller Road and Hospitality House area buildings are staying intact after 2042, but bulldoze the buildings along Old Turtle Pond Road and South Point Road, to make way for a new development with its own entrance and higher density buildings? Just wondering.


----------



## TravelTime (Jan 14, 2019)

Lisa P said:


> Yes, but it's not just the Guides. The second link posted says "In addition to this change, Disney also revealed that those who purchase points for future DVC Resorts from a reseller will be limited to using their points at their home resort. For example, if you purchase *points from a resale broker for Disney’s Riviera Resort,* you will be restricted to using your points at Disney’s Riviera Resort only, and *you will be unable to use your points at any other DVC Resort*."
> 
> The third link posted says, "Once sales for the *Riviera Resort* begin, those who purchase a contract for that resort on the *resale* market *will be limited to staying only at that resort*." They go on to elaborate.
> 
> This kind of restriction does not really imply that future resorts would be their own group, like a DVC2, but that they would be treated as isolated resort entities with developer points able to access additional affiliate privileges. Peculiar. If they treat access to other resorts as an extra benefit rather than as inherent to the system, they may remove extra benefits at will.



Are those official announcements from Disney?

I believe this could be the case but I have not seen a formal Disney announcement yet. I asked an agency if it was formally announced by Disney and he said no.


----------



## Dean (Jan 15, 2019)

Lisa P said:


> I've often wondered what Disney could legally do, given how the OKW contracts are written. For example, could they say that the Miller Road and Hospitality House area buildings are staying intact after 2042, but bulldoze the buildings along Old Turtle Pond Road and South Point Road, to make way for a new development with its own entrance and higher density buildings? Just wondering.


I don't think so.  The entire resort was extended, it's just that DVD will own roughly half of it, possibly more at the current ownership percentages.  They could close it down to part of the buildings but not take them out of the club.  Members own a % of a "unit" which is a building at OKW, the only way they could take that building out of the system, even if they can at all, is to own 100% of the unit/building.  Or they'd have to get the members to vote which I don't see DVC doing.  I've been saying for some time that owning OKW on/after 2042 scares me in terms of usage and dues.


----------



## chalee94 (Jan 15, 2019)

TravelTime said:


> Why would OKW owners think they should get a free extension? OKW was the first DVC, is that correct? Maybe owners did not realize how successful DVC would become. $15 pp for an extension was a great deal.



OKW was the first but DVC had become pretty successful by the time the extension was offered.

If Disney put in the language of the original contracts that the purchaser had the right to use the timeshare until the end of the ground lease (originally 2042) and then later changed the expiration of the ground lease, I can see how some legal eagles might try to hold Disney to the original language. Disney tried to put a lien against owners who didn't pay up but it sounds like they still haven't actually tried to enforce it, leading some to suspect that they don't have a strong legal position. (I'm certain they changed the contract language for later resorts but that made some of us confident that no further extensions would be forthcoming at other resorts.) Many of us accepted the understanding that we were purchasing until expiration at 2042 and didn't care to argue the point (I won't likely be using OKW pts past 2041 myself) but if I had known how adversarial Disney would become towards their owners, I might have dug in...


----------



## luv2vacation (Jan 26, 2019)

We own a small 50 point contract that we bought a few years back (resale).  Our home resort is Saratoga Springs.  Been looking to pick up another small contract resale but not sure I understand the new rules. 

If you buy resale now at, for instance, BLT, will you only be able to book at the currently open resorts (not any new that open after this date) or only at your home resort (BLT)?


----------



## TravelTime (Jan 26, 2019)

luv2vacation said:


> We own a small 50 point contract that we bought a few years back (resale).  Our home resort is Saratoga Springs.  Been looking to pick up another small contract resale but not sure I understand the new rules.
> 
> If you buy resale now at, for instance, BLT, will you only be able to book at the currently open resorts (not any new that open after this date) or only at your home resort (BLT)?



You would be able to book at the original 14 resorts that exist as of today but no new resorts like Riviera or Reflections.


----------



## luv2vacation (Jan 26, 2019)

TravelTime said:


> You would be able to book at the original 14 resorts that exist as of today but no new resorts like Riviera or Reflections.




Thank you.  That’s what I thought when I first saw it but then got confused when I started reading some of the posts.


----------



## TravelTime (Jan 26, 2019)

luv2vacation said:


> Thank you.  That’s what I thought when I first saw it but then got confused when I started reading some of the posts.



I think buying a resale contract of the original 14 is still good. From what I have learned on TUG, the POS indicates they can’t change the ability to exchange in the original 14. If that is true, then the original 14 will maintain their resale value and possibly increase.


----------



## capjak (Jan 26, 2019)

luv2vacation said:


> We own a small 50 point contract that we bought a few years back (resale).  Our home resort is Saratoga Springs.  Been looking to pick up another small contract resale but not sure I understand the new rules.
> 
> If you buy resale now at, for instance, BLT, will you only be able to book at the currently open resorts (not any new that open after this date) or only at your home resort (BLT)?



There is no change to what you will be able to book.  Meaning you can book all of the 14 DVC currently open resorts, but any new future resorts you will not be able to book (the first you will not be able to book is Rivera).


----------



## Dean (Jan 26, 2019)

capjak said:


> There is no change to what you will be able to book.  Meaning you can book all of the 14 DVC currently open resorts, but any new future resorts you will not be able to book (the first you will not be able to book is Rivera).


It might be worth waiting a few months before committing.  The restrictions that have just gone into effect depleted the available resorts to a degree and it's possible we'll see some pullback in prices after the new resorts are in active sales.  Unless I were looking for something difficult where availability was more than price like VGF, VGC or a specific but uncommon size, I'd wait.  That would also give one the chance to evaluate Riviera since there are more uncertainties there than any new resort in DVC history after OKW.


----------

