Why Are So Many People Selling Their DVC Contracts Right Now?
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- Опубліковано 9 чер 2024
- In this episode, the team discusses the fact that Disney Vacation Club resale is currently a buyer's market and why so many people are deciding to sell their DVC contracts right now.
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Pete - We bought into DVC in 1998 - Only OKW was open then. Added on for Wilderness Lodge, and then Saratoga for Disney Springs. We spent 20 years going to the parks with the kids, and every spring break at Hilton Head. Based on our last 3 visits, we decided to sell everything. Not only are the crowds so bad that you cant move, but you wait in line for EVERYTHING. Bathrooms. Food. Drinks. Popcorn. Stores. Maintenance deferred. Much still closed due to Covid (yeah, right. In Florida? Sure...) Then there is the price gouging. I worked very hard and saved for 50 years - I can afford it, but they get no more of my money. The last straw? Paying extra for a Fast Pass, or having to be on the damn phone at 7AM, inside the park pecking away like mad to make a reservation for a ride - That was it for me with the parks. No escape anymore from the insanity of people on their phones. It all started with exiting a ride through the gift shop. Remember how odd that was at first? How it made you feel? Less like a treasured guest, more like someone to plunder additional treasure from. Greed killed the golden goose that was Dinsey. It's the saddest thing I've ever seen.
Wow! I could have written this post, myself! We, too, bought into DVC in 1998 and then added on Hilton Head. We went to Disney World twice a year, took family and friends... gee, I guess about 20 years as well. I agree with everything you said about the greed and the crowds. The crowds are terrible. My husband and I decided not to visit the parks any longer as a result, and we sold our contracts. It was good while we held them, but things are different today. I'm more into Disney cruises now... although they are ridiculously expensive. Still... we enjoy the cruises, so far, that's our Disney vacations.
Breaking my heart
Well said.
I agree with you 200%!
So very many exceptional points here Kevin. I take my girls once a year and having to be on genie plus the whole day glued to your phone really takes away the magic as do the crowds & exiting into gift shops, etc! Be well!
It is not just DVC owners. Any long time, frequent Disney visitor is disgusted with the leadership and how it has failed the consumers of this product. The product itself is declining while prices are increasing.
This is us too. Over 40 visits over the past 25 years as our children grew up. I used to wish we could afford DVC. Now that we can, I’m so glad we didn’t buy.
This also is me. I was an out of state AP holder who did multiple trips to WDW each year. Always stayed on property and gave Disney 100 percent of my vacation dollars. With Covid restrictions, park reservations, change up with the Magical Express (which we loved and appreciated) and the cost increase of the APs.. we have sadly let our APs expire and have no further plans to go. Our last trip was late 2019 and we’ve since learned that there is more to life than Disney.
I’m very sad in the direction that Disney is going . I don’t like the new tower at the Polynesian. They are not increasing the entertainment, shows , etc and the absence of the luau is something that decreases possiblities . It’s really sad . The prices and the reservations and to pay for rides is getting ridiculous. Basically it’s exhausting. I am attached to my phone for work and I hate the idea of having to use my phone to go to dinner , a ride etc .
I literally pray regularly that the economic downturn forces Disney to reverse the decision to build that horrific tower.
@@denisemcgilvrey3966 Sadly, they've already started construction on it at this point. I agree that the new tower is hideous and they should bring back the luau, but it's too late.
I agree! Let’s not get started on Splash Mountain…
I think everyone has a different "last nail in the coffin" with Disney, but for me it was the Genie Plus. Not the fees necessarily, although I despise those. It is the 7am wake up call. I liked planning my vacation ahead of my arrival so I could relax when I got there. Now it is stressful in real time, all day. Our last trip was awful. And now DVC holders that live out of state can't get an annual pass. Do they really think that we are going to pay those crazy prices for tickets every time we go?? Not worth it. Not even a little.
Agreed. I’m on the west coast and I’m not a morning person on top of that. No way am I waking up that early for line reservations.
Yes for us that are traveling multiple time zones, it’s even earlier for us and then we are exhausted to start the day!
I respect that. I actually enjoy being the one who gets up at 7am and booking the Disney vacations for my family. Yes it’s added work that takes away from the vacation. It does feel like work. But the kids reactions to getting on all the big rides at every park even at peak park dates is epic
100%
You can't get an annual pass even if you live in Florida, Lol....
DVC member since 2007, 2 weddings, countless trips. We sold our 150 point Vero beach DVC. The reason is that Disney lost touch with their customers and the reason they go to Disney World. (1). Before, When you arrive at Disney, it was spontaneous. Now, everything planned 6 months in advance. (2.) All the advantages for being a DVC are gone. parking, magic hours, etc, etc, etc. (3.) Disney used to be about escape from the real world, we all know how thats changed. (4.) DVC taxes and regime fees have doubled in the last couple years. Thats why everyone is selling and even not going anymore.
All I can tell you is I spoke to several companies that sell DVC and the
majority of them have said without a doubt it’s related to politics. The timing does seem to add up. Disney fans are different than others who buy other timeshares. You may have less people buying during recessionary times, but normally don’t see a major sell off from those who already own DVC.
It's no longer a family friendly company 😥😥😥
I once considered even looking extensively to buy the right DVC for my family pre-pandemic, I'm glad now (No) transactions had taken place. Disney has gone haywire crazy the audacity of Bob Chapek coming out saying he is going to continue raising the prices because of supply and demand, putting so many restrictions going to the parks, putting people in an awkward position trying to navigate using genie+ paying extra to go on a new ride who wants to walk around the parks looking at your CP all day. Chapek has for me taken away the magic and a sale of a DVC resort and the founds associated with spending time around the parks.
The woke thing with gay kisses in children movies is the final nail in the coffin for us. Incredible how that company destroyed itself. Never ever are we spending a cent in anything Disney related. Bastards!
Hopefully things change with the takeover. It’ll still be expensive, but hopefully Iger (like him or not) brings back that magic. 10-15 years ago Disney was incredible to me. Nothing ever broke down and the food was great.
Although a Disney vacation always required a great deal of advanced planning, with all the recent changes, it has become onerous. Park reservations, Disney Genie+, mobile ordering, require almost constant use of your phone. People go on vacation to getaway from rigid routines. Inflation is also taking it's toll on people's pocket books. Even with Vacation Club, a Disney Vacation is very expensive. Hope things get better.
We are in a buyers market and the reasons are obvious, when a gallon of milk and a gallon of gas both are pushing $5/6.00+ something has to give.
DVC is like the RV industry the perfect example of disposable income. when you have the income you use it (DVC or RV) and its worth it, but when you don't you don't use it and it is not worth it. it's not just the ownership of DVC or RV its every other expense that goes with it added together that creates the value/cost, and at $5+ per gallon of milk and gas along with everything else going up the reason is obvious. Disney feels this later this summer and fall.
I am not a DVC member but I've watched a number of videos about being a member from your site & Jen LeForge. I think if Disney really wants to entice people to become DVC members, they should offer them annual passes or have annual passes part of the purchase price. I can't believe someone would be a DVC member without having an annual pass, and now it's not even possible to purchase them, grrrr!
They don't even give DVC members a park pass discount anymore!
@@theFLshark BOO! I can't believe Disney is alienating their biggest supporters of the parks!
Maybe couple years that would happen. But chapek is making money off removing things even loyal fans.
It's very simple. Inflation is several times higher than what is reported. So people are not even thinking of going to Disney. They also need cash.
This selling will accelerate, greatly.
Additionally, Disney is offering less to guests for MUCH higher prices.
Combine all of that and you'll see that this increase in sellers will continue to far outpace buyers until probably sometime late 2023.
- Don't buy yet, prices are going down, down, down...
Exactly what I was thinking. This is only the start of the decline!
It’s apparently not the only reason. Most consumed Disney fans don’t see the forest for the trees.
Yup. I'll wait to prices bottom out...
I agree the management of this program has turned into a disaster and now the new exchange mess is even worse.
I was heartbroken when we sold ours, but truth was on our last trip, Disney lost its magic. The removal of fastpass, the loss of live shows, the over crowding, and high prices. And it was impossible to get a room at 11 months!! Loss of resale benefits. Loss of magical express, parking benefits. The politics I don’t care about though.
How is it impossible to get a room at 11 months? I haven’t found that to be the case.
Pete is absolutely the BEST Disney commentator on UA-cam. I don't always agree with him, but he is thoughtful and honest and avoids hyperbole.
Because of Disney's political stance, their nickel and diming everything, taking away a ton, yet charging more, the difficulties in just getting into the park with reservations, the loss of AP's, the joke that is Genie+, it all adds up. It will be a LONG time before I ever go back to WDW. As of right now, Universal gets my business.
In the end I understand what you are saying, but universal in my eyes still has some work to do in order to match Disney.
Zero to do with the political stance you think... if anything it's the many Northeastern/New England floks not wanting to visit FLA anymore... I'm one of em.
They took so much customer care sucks . You are not smart to keep spending money there let them sink and reset. When desantis hits them with taxes they will learn
universal was never supposed to equal disney. But now is better than disney .
I had 3 contracts. I sold 2 contracts last year, because I owed them for 3 years and could sell them for more than I paid for them. The one contract that I kept is a 30 point contract at Bay Lake Tower bought direct. I’m using it to use the lounge at Epcot, attend Moonlight Magic events and possibly renew my Annual Passes for myself and my son. I plan on selling it sometime in the next 4 years when my son graduates from high school and I move overseas. The nickel and dimming of Disney played a large role in my decision to sell now.
Good luck with those annual passes. They are gone.
DVC member since 2008, because of Disney's constant price increases we are now Universal annual pass holders. Maybe do 1 day at a Disney park.
Sold our Beach club DVC just a month ago. Bottom line….Disney just isn’t what it used to be, and sadly the pristine parks quality that was once Disney is gone. AND Charging people additional money 💰 for parking at their already high price hotels, Really ?!
The Expenses to visit Disney has just gotten Ridiculous on top of the country’s crazy inflation.
We bought Bay Lake in 08 prebuilt completion on my daughter's first trip to Disney World. My little girl was 4 or pushing 5 at the time. It was a great purchase and enjoyed many times over her young life. Now that she'll be heading off to college my wife and I may make the occasional trip some years, and rent them out in the years we don't use them until my little girl starts a family of her own and I will gladly give them to her. Renting covers all the maintenance and then some in the meantime. Back in 08 the prefinish price was 88- 98 dollar's a point at BLT I think but don't remember for certain. I wish I had bought more than 200 points because my small family has enjoyed them tremendously over the years. Now they are paying for themselves pretty quickly by renting, and in a couple more years it's almost as we've enjoyed Disney each yr of my daughter's life almost for free. I'd like to say that it was a great investment.
We SOLD, if you bought 20 or more years ago your value has tripled 3x. Kids have grown and Disney is raising Maintainance fees every year.
1. Prior bubble. Florida was one of the few places that opened up fully early and since many overseas tourist locations were inaccessible, there was lots of extra demand for Florida vacations. Also increasing demand was stimulus money, and increases savings from skipped vacations and restaurants.
2. Slowing economy. This past quarter was one of negative growth. One more and it will officially be a recession. DVC is a luxury good and the first to be sold in times of trouble. If you lose your job or need more money in retirement, would you sell your house or car or your DVC? It’s much easier to sell your DVC and you probably made a tidy profit.
3. Souring on Disney in general. Headlines have been pretty bad for Disney lately. In the mainstream it is the cost of tickets, the political controversy including Reedy Creek, etc. For insiders, it’s the removal of amenities and lack of support and communication.
4. Competition from direct sales sith incentives of Riviera and Grand Floridian. At the 200 point level the can be had for 188 and 198 respectively. If you can get a direct Riv for that, why buy resale unless you get a significant discount especially with the restrictions?
I think it will get worse before it gets better. Firstly, interest rates will continue to rise, making financing much more expensive. Instead of 10 percent interest rates, it will be closed to 15 percent. International travel will pick up, increasing competition. Universal is building a new park. If the stock market drops 10-20 percent more or there are mass layoffs, you will see a large increase in people selling contracts.
Finally someone who gets it. It’s entirely the economy. Sellers are dumping while prices are relatively still good and getting out. Prices were great a year ago, and Bay Lake Tower was selling for $200. Now contracts are in the $150s, which is below the darkest days of COVID lockdowns when even Florida was locked down and Disney was closed-when millions were laid off in a matter of a week.
Plus, Disney is bringing on more DVC supply. I said it several months ago-Disney messed up and built expecting the demand runway to continue. It always happens-CEOs gets exuberant and predict trees grow to the sky, and then just as they have inventory and supply, demand collapses. Look at Target today. The CEO comes out and says they will liquidate much of their inventory and re-adjust to consumer staples and hike prices. Target bought too many consumer discretionary goods. When that happens and inflation happens, you have consumers spend every dollar they have on the needs and not the wants.
DVC is the ultimate want and luxury item. It’s so unnecessary and easily substituted that it’s prone to massive price corrections. Disney won’t be able to backstop the tsunami of contract sales with ROFR, because direct sales are screeching to a halt. Why and how can Disney hold up the resale market when direct is a desert.
You both have excellent perspective.
Multiple factors at work for sure! When I look at prices over the last 15 years, DVC has risen steadily. I just don’t think that’s going good to change. The resorts provide a superior experience and value for me and my family in comparison to other luxury brands. We see concert ticket prices in the $200+ range for a mid-range spot. That’s to attend a single performance and be overcharged for concessions, charged for parking, not allowed to bring in your own food/drink etc. I don’t see Disney doing anything differently than other segments of entertainment.
Not surprised so many people selling.
Bob Chapek,
Prices for everything going through the roof across the country.
Dues and fees going up.
Less perks at WDW.
Bob Chapek
Bob Chapek
Prices going up.
Bob Chapek!
It's just not fun anymore. I don't like not knowing what we are going to do till we get there. Genie is a major buzz kill. I like putting the work in before the vacation to get plans set and having something to look forward too. That is a big part of the vacation for us. Not, we have this trip planned, wonder if we will do what we want to do?
We are doing a trip this fall without the parks to test that sort of vaca out. We had a great visit to Universal this spring. They knocked it out of the park for us. It was this spring during our Disney stay. It may just be we stay at DVC and do other things going forward. They popped thier "bubble" big time killing the magical express too. We rent a car now, so we are free to roam. been DVC for 12 years I think. None of my complaints have to do with the money, but yeah that is a major thorn too.
Simple- Chapek and Co are alienating the core. We went at Xmas and the parks, particularly MK was a mess. We have no real desire to return but I’m hoping by late 2023 the desire would have come back as we have nearly 400 points! Hiya Jodi, Jodi sold me 3 contracts here in Yorkshire.
Hi! Thank you!!!!!
Just had settlement for add on contract, going to Aulani for 2nd time in 8 months and WDW for 3rd time in 12 months… HOWEVER now when I think of Disney, greed and politics comes to mind not magic. I am not at the tipping point yet, but I am getting there. Disney needs to reimagine its focus and put it back with the customer experience where it belongs.
We have a free TS in Waikiki area for a fraction of what DVC costs (comes with free parking as well). Think some have gotten into the "disney" mindset it's difficult to acknowledge that there are other ways to vacation than just "Disney"
For those afraid to say it, after a year and a half the economy is in shambles, inflation at a Jimmy Carter high, gas prices are out of control. People need cash in their pockets and will put off that extra vacation.
The economy has been in shambles long before that.
They may even be at Reagan levels of interest rates at this point!
not only that if people really finance these things they can't afford them in the first place. It sucks being a slave to the lender.
We are DVC members at the Grand Floridian and we vacation with the family last March. We take the family every year up until Covid 19. Actually a few of us went in October 2020. We all agreed that next year we’ll go someplace other then Disney for our vacation next year. Service was poor, to expensive, food cost so much we left the park. We purchased the Genie plus, what a bust! You spent most of your time calculating your time and what you want to do. Not worth it. My family all agreed Disney is a bust. We’re hoping Disney realises it made a huge mistake. However they gave their CEO another three year contract we doubt the care about the people. We have fond memories of the old Disney and hope Disney will change but I doubt it. Sad It’s not worth it anymore.
Amy, loved your story of the priest at your wedding😊 You and Paul will be sharing that story for many years 😊
We love our resort only stays or 1 day of park and 4 just resort. DVC now allows us the ability to go back to DIsney multiple times a year and not have to rush through the parks. Take it all in and relax. Last trip I went over Spring Break and I didn't ride a single ride at Magic Kingdom. I walked around, took in the sights, watched parades and just relaxed at the park!
I stayed at Old Key West Resort last month in a one-bedroom unit. The staff and the unit were perfect. The only thing that We were bothered by was not being able to get reservations for both the parks and restaurants. Also, it felt like in Disney now nickels and dimes you to death!
My husband and I have been Members since 2000. First home was OKW. Sold that to buy Kidani and then later another two contracts at Bay Lake. We really wanted to do another add-on but what is stopping us is the "on again- off again" uncertainty of Annual Passes. Luckily we have been sort of locked-in because we kept our renewals through the pandemic. My married daughter and her husband wanted to buy as well into DVC but they cant get anything but the Pixie Dust pass (weekdays only). They are a young working couple. They barely get to use their passes but didnt want to lose ability to not be a Passholder so they took it. But between that and the whole park reservations hassle, the value of DVC is a bit skewed. Limitations with Annulal Passes and park reservations. As FL residents, we used to hop in our car and head over if we wanted. Now we have that "wall" blocking us that we are at our park day LIMIT on reservations or our Annual passes arent valid on weekends. Its just gotten to be too much.
DVC has a major availability problem too with far too many owners booking reservations for commercial purposes which prevents rule abiding owners from getting the days they want even if they call at 8am the day their 11-month window opens.
I almost bought into the DVC following my cruise in March 2020. Glad I didn’t because between the shutdowns and the loss of free stuff and being nickel and dimed, I’m so glad I didn’t. It’s not affordable anymore and Genie+, yikes. Disney has stripped too much away.
A lot of people are selling but there is a new generation that is also purchasing for the first time. I bought resale in February of this year. Brand new DVC owner in my young 30’s with a young son. I look forward to Disney vacations over the remaining 37 years on my BLT contract.
I want to thank the previous owners who decided to sell their DVC contracts and made it possible for me to join DVC 😀
Yes, but you don't get all of the benefits of an original owner.
Dee I'm interested in buying a resale is there a major difference between major difference between a DVC direct contract and a resale contract???
@@javathehunny about 40% lower cost! Sure there are a few things you won't get. But none of those really matter to a yoke but the biggest of die-hards. Things like moonlight madness and other events, discounted annual passes, dining discounts, and access to a couple lounges. And if you're dead set on staying at riviera, then yes it will matter. But nothing will make up for the added cost of buying direct
I got rid of mine . Best move I made . Disney died with chapek. It sucks now . I rather just go to bush gardens . And universal. Unless chapek gets kicked our and walt returns
The quality and appearance of the cast members was a big thing for me. When I worked for Disney and did hiring, we had to pay more than other businesses to attract quality people without tattoos, piercings, etc. also Disney used to be politically neutral, not anymore. I’m going to sell my 2 contracts as well.
I agree. The professional appearance of some of the CM's is appalling.
I am 66 and having grown up in California i have been doing Disney since before I could walk. My grad night was held at Disney, my mom worked for the phone company and there was telephone night yearly where the park closed and only phone company employees with special tickets were admitted. My husband and my first date was at Disney 40 years ago. When we moved to the east coast we easily switched to WDW. My family loved Disney. My granddaughters studied all the you tube videos they could find so they could decide what ride to go on first. It was a joy introducing them to the magic. They were amazed by everything. My husband and I were not so thrilled. Small world has peeling paint, the grounds had trash blowing around. The cast member on the skyway to tomorrowland was complaining to his co worker about not getting his break and he actually said "sh*t" out loud so we and the grandkids heard. We were so shocked by this that even now years later we still talk about it. Not the word itself but that it came out of the mouth of a Disney employee. Walt would be spinning in his grave. We haven't been back since and after reading about and watching all the awful changes we probably won't be back in our lifetimes. It's really sad.
Disney is selling out the return guests in favor of the once-in-a-lifetime visitors because they spend more at one time and know less about the ins-and-outs of how the parks work. I hate the direction Disney is going because they’re killing the magic for more cash grabs. They could be more innovative, personal, and high-quality but they want more money for less time and effort. The sad thing is that the people who suffer the most are the cast members who live out of their cars and get screamed at for decisions they have zero control over.
Thanks for another great episode! My wife and I love your show!
I know some folks here are biased, but I keep finding myself wondering if folks are selling because it's just not worth it value-wise anymore. How often would you have to go to make a contract pay for itself and "save" you money vs just going and staying at a Disney resort? I'd like to see an updated number-crunching example--all the stuff I've seen was pre-COVID.
Exactly correct! No value in being a DVC member anymore. I've gotten rooms at DVC resorts for less than what I was paying for my taxes and dues annually. DVC has become a prestige membership, these guys need to spin it because it's there bread and butter.
I think there is some demographic pressure…grandparents choose to sell versus pass on to next generation…who might not like the dvc. The average baby boomer is now 67
I’m guessing 8-10 years, maybe 15 with all the resorts now at $200 a point… The maintenance fees are high, now add parking for both the resort and the parks. If you would normally spend $500-$600 a night for a hotel, you make out in the long run. If you normally drop $150 for the Courtyard with free parking and free breakfast, it will be a long time before you hit break even at these prices. The bigger problem going forward is the crowds at the parks. It’s insanely crowded now - add new DVC high occupancy towers at Poly, Grand Floridian, possibly Bay Lake - and when they restart Reflections on Bay Lake - Without a new park they will have to go back to making advance reservations for the parks, else they will have to refuse entry on busy days. Not a pretty picture.
Please price a 2 bedroom for any week of the year and come back
If you do the math, it saves you 50-60%+ off of the normal room rates at the high end resorts. It is a significant savings for those that go often or every other year or every 3rd year if you plan purchasing the correct points based on your situation.
Greetings DVC Team! I’m glad that Amy mentioned the DVC Direct offers and options in direct contrast to resale. I wanted to explore the true competition between direct and resale with the $207 DVC direct pricing offers. Thank you Paul for the ROFR advice! I’m on the fence and just keep watching!🥳🤔
DVC owners since 2002, no plans to sell right now. We’ve been on this ride before (granted it was before we owned DVC) and made it through. We used to stay exclusively at the Disney Yacht Club and the first 4 visits were great. After that, beginning in 1999…we started to notice changes. First it was the closure of the main restaurant (I believe it was called the Admiral’s Table at that time), then the boardwalk started to fall into a state of disrepair, then the main pool needed to be refurbished, and then we had 9/11 and everything changed (unfortunately for the worse). After 9/11, Disney started to outsource more and more positions. First it was the valets (and a huge increase in the per day fee $8 to $20). We used to valet the rental cars all the time and when we started staying at DVC, we figured we’d continue using the service as we were told upon booking that any type of parking would be free. When we got there and had the valet take the car, we met up with some of the resort staff that we had gotten to know over the years and they told us about the valets being outside help (not Disney employees), so we were like, “oh, okay. We’ll be going out later and we’ll just self park”. When we went to claim the car, we needed to pay $8 to get it from the valet lot. I didn’t want to make scene, so when we returned, we went by the firming desk to inquire and were told that the valets were not Disney employees and apologized for the inconvenience. We got keys to go up to the Concierge level, so problem solved. I wonder how many other DVC guests were told the same thing and found out the hard way as we did? I have noticed over the years that certain DVC properties are better maintained than others, we will never stay at Saratoga Springs again for this reason. Two of three times that we stayed, at least one of us got sick (usually a respiratory illness) and one of those times my youngest son got pneumonia (his bed was in direct line of the ventilation duct). We had to report the illness upon returning home (NY state required it, not Florida) as we had our own home tested for the presence of pneumococcal bacteria and none were present. The resort just thanked us for the information, no other follow up. We even sent them photos of the air duct showing a substantial accumulation of dust and other debris inside of the duct (not within our reach to tamper with either) and nothing other than a thank you. The next time we stayed we checked out the second bedroom before unpacking and the duct was clean. The next morning both my wife and I had fevers, so I got on a chair and shot a photo of the duct from across the room, full of dust and debris. When we requested a room change, they were unable to accommodate. They did have the duct cleaned while we were at the urgent care clinic and thankfully we felt better within a day, but it always made me wonder how many others had issues? This is the one and only Disney resort that we’ve ever had that kind of issue with. We have had issues with construction interrupting our stay and having to request multiple room changes in one visit. I know that they are in the business of making money, but they are also in the entertainment business. If I’m not entertained, I’m not going to return. This has been the case with the theme parks. While the resorts (DVC especially) have upped their game, the theme parks are lagging behind. Too many lines, too many people, not enough time to see in a week what used to take a couple of days…not having it. I go for the entire experience and if I can’t enjoy that, I’d rather not go. So if I’m restricted as to what I can do and when, I’ll skip it. So right now, theme parks are off the list of things to do. If I can’t do as I see fit during my stay, then it’s not worth the aggravation. I don’t like waiting in long lines (and contrary to park management belief, it doesn’t make you more money), I don’t like having to pay extra for something that for decades was free, I don’t like having to make a reservation to go to a theme park when I have already purchased the entry ticket, I don’t like that I need a reservation at any park I would like to hop to and that I can only do it once AND only after 2pm. It’s supposed to be a fun time, I shouldn’t be staring at my phone! I should be going from attraction to attraction and enjoying my time in this magical place. And when it gets crowded, I hop on the bus or monorail and go to another park whenever I had the urge. Now, I’m left with few options and have no choice but to plan ahead. That’s not why I go to Disney. Far to few things in our lives allow for spontaneity, but a trip to Walt Disney World used to! It allowed you to be a kid again, no cares, no restrictions. Just go and have fun. The problem being is…it hasn’t been that for a few years now. We don’t like Universal as much and to be honest, I feel like they’re overpriced too. So stays at the DVC resorts, and nothing else, have become the norm. So all Disney has gotten out of my family since 2017 has been maintenance fees. We haven’t even been to any of the on property restaurants because of the full kitchen at the resorts. Many times we’re packing the food from home as we drive down and always have a cooler with us. So we’re usually not even spending money in Florida. We always fill the gas tank before getting into Florida and there’s more than enough to get to Disney and back into Georgia without an issue. So thanks to Disney’s current park policies, we don’t even contribute to the local economy. It’s kind of sad that they are not yet seeing the effects (well maybe they are and haven’t let us know yet), because the state is. I’ll have to try and find the Facebook group that you mentioned. Always nice to have more information on all things Disney. Once the crowds back off, we may start returning to the theme parks. For right now, it’s just not worth the stress. People go on vacation to escape stress, not to add to it.😁
I think another factor is inflation. Many people, especially families, just have less money to play with.
We've had that value/price comparison even more. Not regarding DVC, but going to Disney at all. Spring Break was a surprise for us when we had our flight cancelled so we were in Florida for 4 extras days unexpectedly. Not able to get a single extra reservation into any of the parks. And the price of everything at the time was at it's most expensive. So Spring Break for us has been completely cut for a trip.
Great episode guys! We just got back from a three night "Resort Only" stay at SSR and loved it! We did go to the Typhoon Lagoon Glow Night After Hours event on our first night, but spent the other days relaxing by the pools! We are new DVC owners with three contracts purchased over the last 2 years (1 direct OKW, 2 Resale SSR & Poly) and agree that right now is a great time to add on. We have 350 points total for just the two of us, but after staying in a 1 BR Villa at the Beach Club in May - we might need more points! With the prices at WDW going up, owning DVC really adds value to being able to continue to vacation with the Mouse in our opinion. Anyways - love the DVC Shows! Happy Wednesday from the Mouse Streeters!
The lack of annual passes might hurt DVC sales
We sold last fall after genie+ began. Over time our trips went from fun and relaxed 2-3 trips a year to more planning, more staring at my phone, more crowds, less rides, less extras, more money etc. Our last trip was so disappointing. A lot of newbies don’t know how much is gone. That’s fine, things change. I don’t get the politics. All I see are a lot of people being as mean and nasty to others as possible. Not traveling to Florida is a bonus.
Things really changed at Disney on our last trip. I'm a planner, and I planned very well with how things used to be. But with Genie Plus, that all went out the window. Tensions were so high in my family this last time, that we actually stood in the middle of Tomorrowland with our phones in our hands yelling at each other. My son-in-law thought he was making a point that he just didn't understand to begin with.. and someone (thank you to the wonderful woman who we didn't know. She appeared out of nowhere with the patience of Job, the politeness of an etiquette coach, and the knowledge of a travel agent) had to step in and explain to him that another person in the family's point was correct - and his wasn't. After tempers calmed, we all decided that this was just not worth it. Even though the kids love the rides, this is not how we want to remember precious family vacations.
I don’t know why but I get happy when I see Pete’s face pop up. I love the others but I really like Pete as the host. ❤️
It’s hard to get over how much you pay in yearly dues. I looked at an old key west listing for 300 points you pay $2643 in dues a year.
I think a lot of owners are also seeing prices at what are historical highs and feel like seeing if they can get out while they're ahead. With so much more DIsney inventory coming online over the next few years, we might have seen the peak in pricing. Time will tell.
Definitely prices peaked last year/early this year depending on property. Bay Lake prices have plunged from $200 to $150s resale and sitting. People are stretched paying for food and gas to bother investing in a hotel room.
Very interesting. I've been wondering if gas prices were going to start effecting guests willingness to travel all the way to Florida. After all, if you're not driving, you're probably flying. Airline prices have also increased significantly. If you need 4 to 6 tickets to bring your whole family, you may be priced out. Even the autotrain to Sanford prices raised my eyebrows. Way more than we used to pay.
One wonders when liberals finally tap out and change their ideology. They always say they don’t mind paying a few bucks more in taxes for X. Now they’re paying the inflation tax thanks to fiscal profligacy of the government. Now it’s costing them their annual vacations and their happy place-forcing them to liquidate DVC contracts. How long until they say, “Enough!!” and admit wrong and plead for conservative reform?! Pride is a tough thing to overcome. Maybe once they notice their discretionary spending has depleted and vacations are a thing of the past thanks to Biden’s inflation, they’ll sit there and be like, “Something is wrong here…”
Gas is not a major issue.
@@theFLshark There you have it folks, Jeff S, without further explanation, has declared gas not be an issue so stop complaining about it.
Travelling last month to Orlando from AR. We saw gas prices ranging from on average $4.50 a gallon. Lowest was Georgia at $3.99, Highest was Jacksonville at $4.99 ( Went to see family after Disney/Universal )
I lived in Florida my entire life and had annual passes for 12 years . DVC never made sense to me living 28 min from the parks. We went weekly, several times per week and nearly every weekend 12 years straight. We have since moved away and I cringe at what we have to pay for 2 day park pass for 3 people without genie + or park hopper. I considered DVC as opposed to buying a villa or condo and renting out. But if we can't even get annual passes as DVC or park passes as out of state, its not worth the cost for us either. I hope Whole Paycheck gets what he needs from the "people" because he is going to have a shell of a place when he's don't pulverizing the magic! Im so tragically sad about it. Its not what it once was at all! We alll know what it was!!! We aren't fools
I noticed DVC hit a wall in May 2021. Coincided with record peak in lumber. Bay Lake Tower contracts were topping out at $200. Now they can be had for $150s. This is lower than during the panic of 2020. A loss of -25% for those watching. Disney will try to step in with ROFR, but you can bet direct contracts are halting. Disney will have a deluge of supply. Disney may be the only buyer 6 months from now. But even Disney will step away. Nearing the end of the 50th, Disney is facing a ton of headwinds. Plus they’re selling the most DVC contracts direct they ever have, with more in the pipeline with DVC expansions.
That’s an encouraging topic to pop up the week you close on your brand new membership! 😳
My parents had 2 contracts. Sold Saratoga recently. The crowds, their age, they just decided to unload one.
As a regular person (non DVC member) I really don’t like the path Disney has decided to go down. I don’t go to the parks regularly (about every 2-3 years), however my last visit, which was this year in May, I didn’t feel the “magic”. I was on my phone more than I wanted to be. Lines were way out of control. Feeling crowed anywhere i went. Having to put extra planing into going to the parks itself. Dinning Reservations are impossible. Disneys Magical Express, gone. Free Fast Pass also gone and has been replaced by a over complicated system. Honestly, where is the magic anymore???
I have one more trip this fall with my family, however I will not be returning anytime soon.
The straw that broke this camels back was the news about the new Brightline Train and Disney snobby and petty reaction to how they were not going to be apart of that project. Okay Disney, I’ll be going to Universals new park and take my wallet there too! Oh and we will be enjoying the relaxing and convenient train ride there too.
I wish she would have actually answered his question in the beginning instead of just saying... it's a lot of things, it's what's in the news, it's what everyone has heard etc. That wasn't really helpful.
Yes. They very much downplayed the politics. It’s not smart to piss off half the country.
I lived in central Florida for 25 years I been to Disney hundreds if not thousands of times and know DVC very well and it never made any sense to me.
I know it's 10 months later, but my feeling on this is what was mentioned right around 9:30. There are still plenty of transactions taking place. Sure, the prices are a bit lower than they were in 2020-2021 when everyone was bored and had spare money. I think that's natural. As to the older owners who are now fed up with the nickel and diming or even the political stances (however exaggerated) are being replaced by new, younger buyers who don't have that legacy history that they're now missing, or disappointed in, and are starting fresh. I think that's how Disney is capturing new sales.
Like many other sectors, the main reason is very simple, the Economy is in the garbage, and it doesn't look like it is going to get better anytime soon. The interest rates are going up and are going to continue going up, The cost of living is extreamly high, just the cost of gas or a loaf of bread is much much higher than it was a year ago.
many people just do not have the spare cash any longer.
BTW this is the real #1 reason, not anything else.
I am curious if you are seeing more people selling the contracts for the DVC resorts that will be ending in 10 years as opposed to the ones that still have over 20 years left? Is there a significant number of these going up for sale?
Hi, Jodi from DVC Resale Market here… interesting question, but no, we’re seeing more of the resorts with a later expiration being listed.
I'd buy a poly resale if I knew the tower was going to be the same association. I bet Disney knows that and that's why they don't announce anything
Thanks for this REALLY informative video. I have three (3) separate DVC contracts (one at the Polynesian and two at Riviera). I use the points a few times a year yet the continued perks lessening more and more is VERY discouraging. At this point, selling is not an option. A few years from now? Possible...
If I didn’t have an annual pass and couldn’t get one I would consider selling one of my two contracts. The removal of Magical Express was a serious ding too. I just took Mears on my trip last week and there was very limited luggage space and issues with seating for wheelchair bound persons as they only had mini shuttles running and not the usual bus.
We still , family of 5 adults, love Disney but since DVC membership we go more often and are very relaxed and go with the flow and have a great time, park, dining and resort time.
I agree, it's still Disney 💕
I know these “after market” points are restricted with Disney, but if you mix them with your Disney points will Disney let you use them as direct Disney points since you’re using a mishmash of points?
Travel costs and hassles are a huge factor as well.
We're recently back from our third trip to DW having previously visited in 2018 and 2019 when it was absolutely awesome. This time though it was different in a BAD way. The magic is truly gone. Its clear to me Disney only wants the rich, the very rich to frequent their parks now. The regulars don't spend enough when they're there apparently.
Firstly, what a horrible, expensive and ineffective thing Genie+ is. We flew 4,300 miles to NOT be able to hop on the Magical Express then once in the parks we weren't even able to get on Jungle Cruise, Tower of Terror and Pirates to name but a few - at all in two weeks!! A glitchy, unreliable app on disneys dodgy WiFi is infuriating. Then Disney rub salt in the wound by charging you $15+ per day, per person for it when fast passes were free?! Oh and by the time you've booked 1 lighting Lane, there's very limited choice for a second or it'll be at a time like 7pm when your first is at 10am. So many days we were only able to use 1 or 2. If we'd bought an individual lightning lane as well (just to be able to get on something) it became a very expensive day indeed. I'm not saying I expect a day in the parks to be cheap I'm just saying it was noticeably way more expensive and has outpriced what we feel is reasonable. And who wants to be up every day before 7am just to try and book 1 ride? Bring back Fast Passes or at least make G+ free for resort guests.
The loss of magic bands was yet another thing that the Suits in the Disney boardrooms have decided to take away. You're given credit card things but try making children hold on to those for very long! Magic bands were far more secure. So, we had to pay a great deal extra for magic bands this time.
The saddest thing is that parents are now absolute mobile phone zombies. To think Walt wanted families to enjoy the parks together yet now mum or dad is permanently on the mobile desperately trying to see if anything is available for the next lightning lane. I watched so many parents do this as they were sitting on a ride unable to enjoy anything.
Food wasn't as good, yet more expensive.
In two weeks our Disney resort rooms were cleaned ONCE. Once in two weeks! So bad. We always had to ask for our bins to be emptied, clean towels, more coffee etc. Thats not what people pay for. We might as well have stayed in a motel. They're using you know what as an excuse for not maintaining any cleaning yet they're absolutely ramming the parks full to dangerous and uncomfortable levels? OK Disney!
We had a male hotel employee come in our room every single day "to check things". Speaking to other guests, everyone had this. It was weird and uncomfortable.
We have never been on so many rides that broke multiple times when we were on them or just before we were about to get on having waited in line for over an hour already. It was just miserable.
Even in mid to late May it was uncomfortably busy. We struggled to get food, to sit down (we sat on the floor so many times) or to get on most rides: The line was 170 mins for flight of passage one day and 155 for Peter Pan. This was midweek.
It now literally pays for Disney to have long wait lines (INCREDIBLY long) because people will then feel forced to pay in an attempt to try and at least get on a ride or two.
The cast members are different - obviously less experienced, surly and clearly not happy.
Ultimately, we won't be back. The price is not reflected in the holiday you get anymore. They need to bring back housekeeping, fast passes, magical express, magic bands, extra magic hours, trams in the car parks and magic bands at the very least. So much has gone!
There are plenty of other places to go - I hear people praising Universal now or even beautiful Italy or Edinburgh! We're broadening our horizons now and we'll probably save a lot of money by saying goodbye to Disney
I keep seeing a lot of mentions of the robust crowds - went in 2019 and 2020 in February and March - was not an issue at all. Are people really going in summer and expecting walk-throughs for popular rides and such?
I have a grand Floridian contract which I bought direct from Disney. If I was to sell, what could I realistically expect?
The nickel and dining has me so pissed. The crowds are outrageous. We do t even go to the parks anymore. We do resort only stays and use our park money for a Hershey Park. It is clean there are no lines and a more enjoyable experience than Disney has become.
I grew up going to Hershey, wonderful KIND place to go. Again, total bias, but there is so much to do there.
We recently sold our WL contract for several reasons. Our last trip to DW was so different than previous trips. The resort was wonderful but the parks....the crowds, lines for every little thing you wanted to do, prices, etc. The magic just wasn't there like it was before. And we know all the tricks about going at "less busy times" and rope drop, etc. But with all the other recent changes, that December 2021 trip was our last for a while. We sold because of that but also we wanted to finance a remodeling project at home and we wanted to start saving for a trip to Europe...so something had to go and DVC was what we decided to cut. Doesn't mean we'll never go back but in the future we will just rent points as we need them. We live in Maryland so a quick trip to Florida to use our DVC points just isn't feasible and renting them out seemed like too much hassle. We just cut those ties for the time being.
I would love to see a regular segment providing metrics of sales avg points etc. can be very short like 5 minutes but would be good to see that in each of your episodes. Kind of like a market status
i would think inflation as well high gas prices are playing a role into this as well.
Who do you contact if your interested in renting points?
Because we’re in recession. Contracts didn’t collapse by -25% for any other reason. And they’re going down a lot more. Sellers are trying to bail while the prices are still good. Buyers are coming in not realizing the economic slowdown is right in front of them. Gas is $5 a gallon, airline tickets are 2-4x, and DVC is interest rate sensitive. It’s going down along with the greater real estate market. Collapse. People aren’t going to want a hotel room as an asset. That’s the most luxury purchase of all time.
once gas reaches $7 per gallon nationally (and it will), everything is going crater, including DVC.
I really like Jody's blouse - very cute! I'd love to buy DVC someday but I've heard that going the resale route means you miss out on the extras that Disney offers like Moonlight Magic. True?
We have just put our contract on the market. Loved it but it just isn’t the same Disney. From all the reading and research I’ve done over the years…. You never buy DVC for the extras. They always come and go. Moonlight magic is great if you live in Orlando or have a trip planned on those dates. But it comes and goes. We have lost Tables in Wonderland, transport from airport ( which wasn’t just DVC… just several perks, because we bought direct…. No we are selling that contract. You don’t miss out on extras because they are so few and far between. Buy your contract resale and enjoy it for what it is a villa in the Most Magical Place in Earth. It was worth every single penny. But looking back we should have bought resale. You won’t miss the perks you can’t enjoy. Get a Chase Disney Visa for shopping discounts.
Hi Tamara, thank you for the compliment. And yes, there are some restrictions if you buy resale.
you can't do moonlight magic if you buy resale...thats correct
Do you have a video on how this actually works. Will this be a tax write-off. I was trying to understand the process like points not sure what that actually means. I enjoy coming to Disney God knows I probably paid off A DVC contract without knowing it because I come to Disney probably twice a year for the last 15 to 20 years. Please send me a link of the video that shows you how to purchase a DVC. Thanks!
This is news to me; I get offers to purchase my GF and poly contracts from other DVC members almost monthly.
Bad news is 50% is not happening today however, mark my words, it is coming. There is about a three year cushion that Disney can mistreat it's customers and then there will be a great realization that they do not need Disney. There is a fantastic real world to be a part of and it is so much better than make believe. I am a fanatic when it comes to Disney and have been for decades this is a sad situation.
It is also alarming to hear people are selling out to prepare for an upgrade purchase. Is DVC becoming too great an expense for most individuals? How limited is DVC for individual purchase in 2022 compared to 2010, 2000, or even 1998? And, is DVC now competing with individuals deciding between purchasing a home or DVC membership?
this is like putting lipstick on a pig.... bad times are coming folks!!!!
Thank you!
We bought at AKL in 2008. Kids were little and going every year or 2 anyway. Loved our points and got good use but as Canadians Covid meant our 2020 trip cancelled then 2021 was looking like another year of dues with no trips so we sold. Coming down in Aug for a last hurrah trip with some of the profit and then who knows....
I've actually been thinking about selling my contract .... I may wait until it's not so much a buyers market. Went to Disney in May, and it was just too crowded. I'd rather look into Marriott or Hilton where there are more options of places to travel.
Love the DVC show. I am not a current DVC member, hope to be in a year or two. Would you please do a video/vlog about resort stays only? If staying at your home resort how many days can you just spend at the resort/Disney Springs and not enter the parks? When I purchase I will be flying in from NY and will not be renting a car, so I am curious. TIA
You can stay in your resort as much as you like. No on is going to force you to go into the park.
I had a change in financial status and couldn’t afford four contracts anymore. Luckily I was able to hold on to one. It’s difficult when you have pets that are not allowed to stay at the hotel with you and don’t feel comfortable leaving them with anyone. The hotels are beautiful regardless of what happens at the parks. We go to experience the resorts, not the parks so much. We live locally and can go to the parks any time. Some day when we have fewer pets and in a better place, hope to build on to the contracts again. No real complaints with DVC.
Which DVC hotels are the best in terms of giving the vacation experience versus staying at a timeshare hotel that resembles an apartment complex. Any info would be appreciated. Thanks.
Glad really I don't want urinated carpets pet hair or barking dog I can't get to behind a locked door.
No mention of Disney being thought of negatively by 75% of adults polled recenttly?
New dvc resorts being built like that new Polynesian want-to-be is cheapening the overall qualify.🤡
Also the parks are packed to the brim.
I'm sure there are a near infinite number of reasons people are selling their contracts, but the reality is we're about to be in a huge recession and normal people who have to worry about money (unlike upper crust Pete and company) can already feel it.
Any thought it is because of the real estate tax the will be increased due to Reedy Creek?
Pete, where'd you get that shirt? I need it badly!!!
As a huge Disney fan, I am done with Disney. I got rid of Disney + and Hulu. The last thing is our Disneyland Magic Key passes. I am going on our farewell tour of Disneyland just before our Magic Key passes expire. I will be sad to let the passes go, as we are in Arizona, but have been going about four times a year. Disney is into pushing agendas and are too much into politics, Wokeism , etc.. I would not go back for the last time if I didn’t have passes and had to buy tickets. Disney no longer cares about Walt Disney and His Original plan for the parks. I think Walt would be furious what has been done with His park.
Well said!
It's not the political, Reedy Creek or people moving to FL issue. I agree with the other posters...Disney is turning into just another hotel. Chapek has pared Disney down to the bone and still raises park ticket prices.
I joined DVC in '99, and I have watched the perks evaporate over the years. There's no difference now between buying say a Hyatt Regency Timeshare or DVC.
Genie plus ruins the ride lines. Doc keep violating the contracts and changing the rules It’s so hard to even get a reservation it takes so much planning it’s too much work They keep upping the amount of points needed for a room. That’s just off top of my head. It’s not the same anymore
I think a lot has to do with the economy and the fear of a recession. I also think itś going to get worse.
Two words - ANNUAL PASSES. I didn't buy DVC in 2004 to have to buy day tickets.
Everyone selling and I'm over here trying to buy!
Is it true that if you buy DVC through resale, you don't get all of the DVC benefits as if you bought through Disney?
Pete you've only been a DVC member for 2 or 3 years? I would have assumed you go way back!
Last year we did stay at Animal Kingdom for destination only. It wasn't because we didn't want to go to the parks, it was because we couldn't get into the parks as all the reservations were taken. That was disappointing to say the least. We like to plan our park days based on the weather and don't want to plan a park on days we know it will be too hot, or rainy, or whatever the case may be. We ended up at Sea World and Aquatica. So Disney lost out on four people in their parks that week.
However, this year I couldn't get into any resorts besides my home resort for 7 days straight. I do plan ahead, but by the time I could get the trip booked, there was no availability. Instead, I did a VRBO and got where I wanted to stay, at the time I wanted to stay in the mountains. Looking at the cost, my VRBO was cheaper than DVC monthly maintenance.
The straw that broke the camel's back in our decision to sell for my husband and I though is the political climate and treatment of children. Our children are almost adults but we cannot condone in good conscience the atmosphere that Disney has been fostering. Perhaps Disney leaders will see how many people are leaving and not coming back and change - I sure do hope so. I am grateful for the many years we had with DVC which my family enjoyed.
We had a Riviera contract for a year. Availability was a joke and waking up at 7 am was not my idea of a vacation. I wouldn't say we wasted our money, but Disney is too much planning now....