Jodi Gross from DVC Resale Market joins the show for our monthly recap show covering April 2022. We've started a slow shift towards a buyer's market. Prices have started to soften and motivated sellers are starting to pay for closing costs. Disney bought back significantly fewer contracts in April than in previous months. Inventory dropped slightly from last month's recording time. All of this has us keeping an eye on the market as we start to see a shift towards becoming a buyer's market. Episode 204
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Today's show covers these articles:
- Best Economical Resort – We're seeing a trend where the newest resorts are rising to the top of the list. However, Chad pointed out a flaw in the logic behind the report. It assumes today's buyer holds the contract until it expires. We know the average DVC family remains a member for 7-10 years and then they're selling their membership. Chad took away a homework assignment to determine the most economical resort to own from 2014 to 2022.
- April 2022 ROFR Report – This month the usual suspects were bought back: Animal Kingdom, Old Key West, and Saratoga Springs. These three resorts were typically the fallback resorts, if a family couldn't afford $207 a point for Riveria, they would be offered one of these three at 20% savings. DVC recently changed strategies to make these resorts more expensive by raising their costs to $200 a point without incentives. Grand Floridian and Riveria are both offered at $207 with incentives.
- April 2022 Average Sales Price – Honestly, the average sales prices may have softened a few dollars. Grand Californian and Beach Club had notable rises. Chad commented a concern about the recent trend for sellers to include closing costs. If this trend continues, it will undermine the value and utility of the average sales price per point. The actual sales price per point is skewed by subsidizing closing costs. However, this isn't all that bad because the practice does benefit those financing a contract. One cannot finance the closing costs on a contract. So if the seller pays to close, the buyer's cash will be considered 100% downpayment compared to the buyer's downpayment covering closing costs with any additional being a principle downpayment.
Today's show was written, produced, edited, and mastered by Chad Pennycuff.
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