Jodi Gross from DVC Resale Market joins the show to provide an update on April 2020's sales results. The DVC Resale Market team sold 290 contracts, received 130 new listings, and saw zero contracts purchased through The Right of First Refusal. This sets the stage for a very interesting month in the resale market!
Season 4 of the My DVC Points Podcast was made possible through financial support from the DVC Dream Team:
- DVC Resale Market – Industry Leader in DVC Resales
- DVC Rental Store – DVC Point Rental and Swap Partner
- Incredible Vacation Homes – Luxury Vacation Homes for Family Gatherings
- Be Our Guest Vacations – Travel Agent for DVC Point Swap Programs
- Monera Financial – Exclusively Financing DVC Contracts
- Patreon supporters in the My DVC Points VIP Producer Club.
Links to the Monthly Reports for April 2020
- DVC Right of First Refusal Report (ROFR): April ’20 Report
- DVC Resale Average Sales Prices for April 2020
Addressing the elephant in the room, DVC bought back ZERO contracts in the month of April. Zippo. Zero. Zilch. This was the first time that Jodi can recall this ever happening in the resale market. Some of the reasons could be
- Disney is saving cash. Recent headlines indicated Disney has lost over $1 billion dollars in the parks during the global shutdown.
- The DVC direct guides are currently furloughed. When the direct guides sell a sold-out property, DVC re-acquires the points to sell via the ROFR process. If guides are selling points, they don't need to buy back points.
- The administrative staff at DVC may be wearing multiple hats and purchasing points via ROFR may not be their highest priority during the pandemic.
Changes to the Average Sales Prices:
Last month, Chad commented that he was shocked that Bay Lake Tower and the Polynesian had some noticeable dips in average prices. This month they saw a small recovery; however, the Animal Kingdom Villas and Grand Floridian both took a $9 dip.
Inventory Analysis for April 2020
On April 1st, DVC Resale Market had 520 contracts on the market. They sold 290 contracts; yet they only received 130 new listings. While one might assume the economic uncertainty may lead some families to sell their contracts; Jodi was pleased to announce that she doesn't know of any families selling their contracts due to financial distress. Chad thought that tax refunds and stimulus checks may be spurring some of the buying spree; as this found money makes an excellent downpayment. Jodi wasn't aware of any buyers making comments about using stimulus checks for DVC contracts.
Our Picks for Top Value Resorts
For months, Chad has been pointing out that the Polynesian contracts are an excellent value. They have lower dues. long expiration dates, and extremely high rental demand if you ever need to rent out your points. Aulani is also looking very attractive if you would like the 11 month advantage at that resort. (The standard rooms and hotel rooms sell out at 11 months). Given that Animal Kingdom and Grand Floridian are also at their annual low prices, it may be a great time to pick up a contract at either resort.
Today's episode was produced, edited, and engineered by Chad Pennycuff. Show notes by Samantha Kurtz-Seif. Facebook admins and moderators of the My DVC Points Community Group: Valerie Fairnington, Donna Bickert, Tamara Speidel, Caleb Allison, and Mary Anne Tracy.
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