Sales for Copper Creek Villas & Cabins, Disney Vacation Club’s newest resort, began on March 8, 2017. Normally, Disney files new deeds with the Orange County Comptroller about two weeks after they are purchased However, Disney has not yet recorded any deeds for Copper Creek, apparently deciding to wait until some time in the next few weeks.
Disney has batch processed sales for a new resort at least once before. Sales of Disney's Saratoga Springs Resort & Spa started in August 2003 but Disney did not begin filing deeds for it until May 2004, about the time the resort opened. If Disney repeats this practice, the first Copper Creek deeds may not appear until July 2017 when the resort welcomes its first guests.
Despite the delay in filing the Copper Creek deeds, in March 2017 Disney sold 147,735 points for the nine Disney Vacation Club resorts at Walt Disney World. March’s sales total was less than the 155,704 points Disney has averaged over the last 12 months, but quarterly sales ending March 2017 were 25.6% above the same calendar quarter in 2016
Disney’s Polynesian Villas & Bungalows — In March 2017, 123,714 points were sold for the Polynesian. The resort has sold 2,759,972, or 68.4% of its 4,032,720 total points. Disney still has about 1,192,000 points left to sell to the general public. If it can maintain the same sales pace that it has had over the last 12 months — 132,541 points a month — it would take the resort about nine months to sell out. However, with sales having started for Copper Creek Villas & Cabins, it will be interesting to see if the Polynesian can keep up the same pace.
On March 8, 2017, Disney declared 48 more studios for the DVC inventory. Disney has now declared 312 studios and 16 bungalows, which represents 85.9% of the Polynesian’s total inventory. There are still 48 studios and four bungalows that are undeclared and are under the control of Disney. Disney can use the undeclared inventory any way it wishes, including for cash reservations.
Through March 2017, the Polynesian has sold 91 Fixed Week deeds, but only two have been sold in the last six months. Most of the Fixed Week deeds - 51 - are for the last six weeks of the year. The most popular week for Fixed Week sales is week #52 with 19 deeds.
Aulani, Disney Vacation Club Villas — Sales data for January 2017 for Aulani is not yet available. In December 2016, only 173 deeds and 24,869 points were sold for Aulani.
In the past few months, sales for Aulani have fallen. Since May 2014, when sales for Aulani were first tracked, the resort has averaged 61,581 points a month. But in the last three months Aulani has averaged only 25,886 points a month.
The sales data includes all nine DVC resorts at Walt Disney World, as well as Disney's Vero Beach Resort, Disney's Hilton Head Island Resort, and Aulani, Disney Vacation Club Villas. Point sales data is not available for the Villas at Disney's Grand Californian Hotel. The data is compiled from deeds filed by Disney Vacation Development and recorded with the Orange County (FL) Comptroller, the Indian River County (FL) Clerk of Court, the Beaufort County (SC) Register of Deeds, and the Hawaii Bureau of Conveyances.
Thanks to Imdizfan for helping compile sales data!
Wil Lovato is a contributor to DVCNews.com and has been a Disney Vacation Club owner since 2009. His DVC Home Resorts include Bay Lake Tower, Animal Kingdom Villas, and Aulani. He can be found posting on many Disney discussion forums under the username of “wdrl.”
I wish I knew why Disney is not recording the Copper Creek deeds with OCC. Offhand, the only thing I can think of Disney gets to keep all the purchase funds in escrow. If the deeds were filed with OCC, Disney would have to immediately pay the Deed Document Tax on each deed. But 40,000 CCV points would only generate about $50,000 in Deed Document Taxes, so I don't think Disney gains hardly anything by sitting on the deeds.
I wonder if DVD did a better job of getting the approval to sell in all 50 states than they did with PVB. For PVB, California was delayed 2 or 3 months.
Contract sizes should be higher for CCV than PVB because they offer the larger room sizes. Anyone wanting to stay in a 1BR, 2BR, or GV for a week each year buys a lot more points than someone staying in a studio for a week.
It will remain a mystery why they didn't at least put in some 1BRs at PVB. Connecting studios could have easily been used for 1BRs.
I looked at the unproofed deeds and, as expected, Disney has assigned a Residential Unit to each of the eight Use Years in order to support sales.
For buyers of Copper Creek, the August UY is beginning with 2016. September, October, and December UYs are also starting with 2016. For buyers of the February, March, April, and June UYs, their UY will begin with 2017.
The Copper Creek Public Offering Statement shows that the condominium association will have a total of 3,321,966 points and a total of 184 vacation homes. The eight Residential Units that Disney has tapped so far contain either contain two cabins or two two-bedroom vacation homes. Based on the deeds filed today, it appears that each Copper Creek cabin is allotted about 24,280 points, and that a two-bedroom villa is allotted about 21,173 points. These numbers are preliminary and I might revise them as more information is available.
For now, I can't figure how many points are being allotted to the dedicated studios, dedicated one-bedrooms, Grand Villas, or the Alternate studios. Until Disney taps Residential Units containing those accommodation types, I won't be able to calculate the point allotments for them. By the way, Copper Creek will have at least six different Residential Unit configuration types.