Is anything selling now?
 

I listed my 390 7 days ago at a price I thought was cheep. not one bite or question about the boat.
Hell, 85k for a 390 that will run in the 80s. on a trailer.

wow 85 sounds like a hell of a deal. it looks like the boat market is really down right now, hope it recover's but who knows

right now its bargain hunters and tire kickers. Will be spring before the serious buyers come out.

I need to get rid of it so I can pick up a few cheep homes.

most people are either tire kickers or they're scared of what the economy is doing. A lot of people may lose their jobs and if that is a possibility then they arent going to buy a boat. but someone buying a boat like yours i doubt worries about losing their job. 85k does sound like a hell of a deal.

I thought my Nova would sell right away being a inexpensive entry level power boat. I only have had one call and I have make offer.

Credit is shut down for most.......people with 85K cash are probably working the market.

Don't get your hopes up...

We normally purchase 20-30 homes directly from the banks monthly...Across the nation...

We are current liquidating properties from our portfolio and are having the same problems you are experiencing with your boat...

Renters aren't paying, buyers can't get financing and investors want the properties for nothing...

In addition...an empty property means a stripped property...

If you are a marginal/cash poor investor/landlord and don't have the cashflow ride out the market down turn...

Then, expect many sleepless nights...

For example...

We've listed this 30 day auction property 3 times...

http://cgi.ebay.com/ws/eBayISAPI.dll...m=170271354782

Good Luck...

Divenstar :eek: :eek: :eek:

I think not.

The 2002 Cigarette Playboy 35 that I was interested in sold!!, just recently, I also sold my Apache in the last 2 months

http://www.offshoreonlyclassifieds.c...o21581-en.html

I used to think the same thing. The truth today is that anyone can lose their job, even the owner.

Nothing is selling, people are afraid of many things changing in their lives/income.
Hope it gets better soon.
Dean

I'm an energy trader, but I also own 50% of one of my areas largest custom home building companies. Even this last year we kept chugging right along. We raised prices about 50K on our 550K model. After 2 months we dropped it 50K and the bargain hunters came in by the droves. If you aren't showing someone a bargain they will not buy. We did very well through this year, about 20 homes with a 600K average, but now it has entirely dried up. We have a 2 stroy model that we sell for 425K and it appraised at 478K even with a forward looking market adjustment of -5%. We had 3-4 serious hit at our first open house without the home even being complete. A lawyer and pharmacist could not get financing and the other cannot give his existing home away. We have a home under construction for about 1.2mil and it is now sitting because it's lawyer owner has lost his ass on his Florida home and the stock market. It has gotten scary in the last 60 days. Other than that it's fuggin peachy.
We've dropped this one to 415K, includes lot, all tops granite, 3,200 sq. ft, professional grade appliances, etc, etc..

http://img377.imageshack.us/img377/5...tionzb7.th.jpghttp://img377.imageshack.us/images/thpix.gif

thats a beautiful looking home!

Well i sold the 30' cruiser last week and the Cigarette this week, so yes they are selling, but as for price both were way lower than they should have been.

:(

.

imho the market is real bad in both real estate and boats

i recently sold a small twin outboard cat , i had to give it away

i just bought a 45 wellcraft excalibur . i found the cleanest one i could find , all fresh water , and offered them way less money then any of the other ratty/salty ones out there , and they excepted my offer. and even though i feel i got a good price i have to wonder that if things keep going the way they are going i still may have paid too much , next year people may be selling them even way cheaper than i got mine for

also i have a small peice of waterfront properrty for sale and i cant even give it away

http://longisland.craigslist.org/reo/882235150.html



.

Even at complete "give a way" prices boats are still sitting.
A few months ago i turned down a few serious 140k offers- where are they now....i just reduced the price on my Eliminator to $ 119k -
it's killing me to see such great boats go so cheap.

I have a buddy trying to sell a clean 25 sunsation for 25% less than any other one on the market and he isn't getting any serious calls. IT sure makes me glad I sold my 32' when I did. Now I just have a little 24' that I have less money in than alot of people have in outdrives. Its shopping season for me. ;)

I am in the market to buy and I hate to say it but I am waiting till rock bottom for the best price. I hate to beat up anybody in the boat biz but when the market was good and I would try to get a good deal on a trade and they would offer me 50-60k for a 50 Nortech on trade that needed nothing F U. So now I have cash and good credit so if the boat is listed for 150k I will start off with a 70k offer, somebody will take it and I will get a good deal. If any of the dealers I talked to would have made me a fair deal then I would have done the same.

I just missed a 03 38 ZRC Donzi was listed for 150k sold for 83k.

You willing to trade down plus cash?

[

I just missed a 03 38 ZRC Donzi was listed for 150k sold for 83k.[/QUOTE]

that better not be the boat im waiting on financing on:angry-smiley-038:

more info on the buddy's sunsation. :party-smiley-004:

If the trade down plus cash was to me, no the Nortech is gone. I am high dollar boat less. I am now looking for 2 boats, a 35-40 CC and a 38 ZRC. If I can swing it a 38 ZFX donzi will be the CC. and I want the ZRC to have 525's in it. I should be able to get both for about the same per month I was paying on the NT and less to insure both since the HP is a lot less.

Yippy !! :evilb::ernaehrung004:

I got lucky myself... sold my Baja back in July at high book... Was an extremely clean boat but nothing special about the power or anything - just stock. It was just timing like anything else - right buyer, right boat.

It is hard to belive credit isn't available based on all the special financing calls, emails, mailings and television commercials I am getting/seeing.

$85K is a lot of cash. But I would agree, for someone in the market, you have her priced very well.

with the rate exchange as of today, (28%), the nice part is all my boat inventory is now worth 28% higher than ... 6 months ago! On the dark side, it is now is now 28% tougher and more expensive for me to buy boats (or anything else) in the States than it used to and import them... So I guess Canadian buyer will likely buy less in U.S. ... for 28% reasons....

Very valid point...

I feel your pain...

Divenstar :party-smiley-004:

Sounds like a great time to buy as long as you are the investor getting them for nothing. In my area 80k liquid will get you three to four two bedrooms at the moment all of which would rent for at least $600 a month per home on section 8.

I suppose it all depends on your location and whether you want to be a flipper (not gonna work at the moment) or you want to have the passive rental income. Divenstar, it sounds like you deal in a lot of properties and I not knocking what you are experiencing but saying that there are more opportunities now than ever (as long as you can weather the storm).

Hopefully your boat will sell and you can pic up some houses so in a couple years you can have a bigger faster boat...

regards,

Josh

Section 8 housing is a PAIN in the A$$, at least for me it has been in the past!:mad:

Its a 95' with 330hp. I think around 300-350 hours. He is asking $14,900. Send me an email and I will put you in touch with him if your interested so we don't completely highjack the thread. conceptservices AT live.com
Chad

No doubt! I had those bastids stealing the copper out of their own houses and then I would have to replace it.:angry-smiley-038:

What do you have? I just got back in town.

I have a Fresh water, Low Hr 29 Twin Engine Scarab for 36k and the calls I get are really low and the offers I do accept the people can’t get Financing.

Hott Stepper What boat are you int. in. Ill take a trade.

The entire globe is in the midst of an economic meltdown the likes of which we only see about once every 100 years. Economist are forcasting a nasty global recession, probably the worst one we've seen since the 1930's. They are saying that unemployment rates could reach double digits here in the USA.

So let's get out the crystal ball and see what economic conditions might look like look six months from now.

1: Most economist say the downward spiral will continue in real estate as even more homes are forclosed on and credit standards tighten for those who seek to borrow - further shrinking the pool of eligible buyers. Home owners in general will feel, and be, poorer as a result of the lower values of their real estate.

2: The stock market crash (that is still in progress) will continue to have a nasty impact on people's 401K statements. People brave enough to look at their October 401-K statements certainly feel poorer with the Dow at 8300 than they did a year ago when the dow was trading at 14,000. Who knows how bad 401K statements will look 6 months from now.

3: Finally, add into the mix the millions of unfortunate Americans who will be receiving pink slips as business around the world slows due to the recession and co's are forced to cut back. We are in earnings season on Wall St and the common theme for companies giving forward looking guidence is for Layoffs, Layoffs, and more Layoffs.

You can see from the above our economy is not in a wealth creation mode (like it was from 2001 - 2006) but rather it is in a Wealth Destruction mode. As such prices for used luxury goods will continue to plummet as the full force of this nasty recession hits home and makes most Americans even poorer -relative to what they were a few years ago. Most economist feel that the bad situation now will only get worse as companies start to lay workers off.

If you are needing to sell a boat and someone makes anything near a reasonable offer on it, you might be wise to accept it. If you are looking to buy a boat and want to get the best deal possible, be patient and wait at least until spring when the bad job numbers start rolling in. As they say on Wall St., keep your powder dry for when the panic sellers start hitting the market. Your patience will most likely be rewarded as this economy is going to get worse before it gets better. Prices will be even cheaper in the spring - maybe a lot cheaper.

I know it's now the same, but still a luxury item. Any of you see the crazy prices for Lambo's and Ferrari's right now? There is an 06 Gallardo on FChat right now for 100K. That is scary.

I sold mine back in the summer, took a lot less than I wanted but in the end it's gone and so are the expenses associated with it. I figure I made up for the loss by avoiding the expenses this past summer. It's hard to stomach, but if you're serious about selling you gotta bend over.

Sold a 20' new Baja this morning, client wrote a check for it. So yes boats are selling but slow,

WILL:drink:

Margin- I always enjoy your posts and you make very well thought out points with regards to the market. All very true.


RAF