Copper Creek Villas & Bungalows at Disney's Wilderness Lodge recorded its best month for sales in September 2017.
Perhaps reflecting the impact that Hurricane Irma had on operations by Disney and the Orange County Comptroller, overall direct sales of Disney Vacation Club points declined 7.9% compared to the prior month. Both Disney and OCC suspended operations for a few days in September due to inclement weather.
The ten Disney Vacation Club resorts located at Walt Disney World sold 185,439 Disney Vacation Club points in September. More than 1.7 million DVC points have been sold so far in 2017 for the Walt Disney World resorts, which is a 26.6% improvement over the same period in 2016.
Disney’s Polynesian Villas & Bungalows — In September, 93,146 points were sold for the resort, the fewest number of points since 92,197 points were sold in November 2016. The Polynesian has now sold 3,528,649 points, or 87.5% of its 4,032,720 total points. This includes 66 deeds containing 8,973 points that have been reacquired by Disney through buybacks, foreclosures and exercising its Right of First Refusal on third-party resale transactions.
Disney must retain at least 2% of the Polynesian’s total points for itself, leaving it with about 423,417 points remaining that can be sold to the general public. However, since there are hundreds of transactions that are pending awaiting closure, Disney has far fewer than that amount of points left in its inventory and certain Use Years are already becoming scarce. If the resort continues to sell points at the same rate as it has over the last 12 months, the Polynesian would be completely sold out by January 2018. In the past, Disney has considered a resort to the “sold out” when 92% to 95% of the resort has been sold. If that happens again, the Polynesian should reach “sold out” status in the next two or three months.
All of the Polynesian’s 360 studios and 20 bungalows have been declared for the DVC inventory. This means that all villas and bungalows are available to DVC members to book using points.
Copper Creek Villas & Cabins at Disney’s Wilderness Lodge — Copper Creek had its best month for sales, both in number of deeds sold (412 ) and points (66,520). Since sales started to be recorded in April 2017, Copper Creek has sold 298,513 points, which is about 9.0% of its 3,321,954 total points.
The Fixed Week option has not appealed to most Copper Creek buyers. Only eight such deeds have been sold for the resort. The eight Fixed Week deeds account for less than 0.4% of the points sold, below the 0.8% sold for the Polynesian and well below the 4.0% recorded by the Villas at Disney’s Grand Floridian Resort & Spa.
Disney has declared 48 of Copper Creek’s 184 vacation homes for the DVC inventory. In terms of points, the 48 declared vacation homes account for about 1,021,430 (30.7%) of the resort’s 3,321,966 points. As Disney sells more points for Copper Creek, it will declare more vacation homes for the DVC inventory.
Aulani, Disney Vacation Club Villas — In October, the Hawaii Bureau of Conveyances, which records real estate transactions for Hawaii, made significant changes to its public website. Timeshare deeds, including those for Aulani, no longer show the Residential Unit or the number of points. Therefore, we will no longer be able to track point sales for DVC..
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, and the Beaufort County (SC) Register of Deeds.
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.”
The number of points reacquired fluctuates from month to month, but September's totals are fairly representative.
For those who love delving into the minutiae of all things Disney, it appears DVC has appointed a new attorney to handle the Trustee Foreclosures (see [URL="http://dvcnews.com/index.php/dvc-program-51703/financial-75803/news-19220/3215-disney-now-bypassing-judicial-system-on-some-foreclosures"]Disney Now Bypassing Judicial System on Foreclosures[/URL]). Valerie Edgecombe Brown has taken over the role of Trustee for the DVC condominium associations from Michael Hutter. Ms. Brown is based in Orlando with the law firm Manley Deas Kochalski, which is headquartered in Columbus Ohio. It appears that the Trustee auctions are still occurring in the Orlando offices of Baker Hostetler, which was Mr. Hutter's firm.
There has been an uptick in Trustee Foreclosures that have been processed since mid September 2017. VGF has already had 13 Trustee Foreclosures processed in the first two weeks of October 2017. But its too early to say whether we'll see more Trustee foreclosures now that DVC has a new Trustee.