|
|
26-05-2008, 20:34
|
#1
|
Registered User
Join Date: Jan 2006
Location: San Jose, California
Posts: 105
|
Is the home real estate market in the US spilling over?
Hi,
I'm just curious if sailors in the US are noticing the used market for sailboats begin to show signs of softness? I know we have individuals from many different countries here and you may not be aware of the housing downturn the US is experiencing.
Now that I think about it there are probably numerous factors at work here. The dollars slide against other currency is making new boats more expensive, which may keep the used boat market fairly firm...
Just curious what others are seeing...
|
|
|
27-05-2008, 06:08
|
#2
|
Registered User
Join Date: Nov 2005
Location: Bradenton FL
Boat: Med Yachts 62 Trawler
Posts: 1,180
|
FWIW - The broker I spoke with last week told me that the power boat market has pretty much gone away outside of Texas. Lots of brokers in FL going broke as you might expect. In Port Aransas TX they don't deal with sail much so couldn't say how that segment is doing.
Seems that the oil profits are making their way down to the TX waterfront and the sportfish-selling business there is still doing OK.
It's nice to know that someone can afford $400 - $900 fuel bills for a day of fishing....
__________________
Mark
|
|
|
27-05-2008, 08:56
|
#3
|
Senior Cruiser
Join Date: May 2003
Location: Chesapeake Bay
Boat: Sabre 28-2
Posts: 3,197
|
|
|
|
27-05-2008, 10:50
|
#4
|
Registered User
Join Date: Sep 2007
Location: Vancouver, Washington
Boat: Maine Cat 30 - Jasmine
Posts: 46
|
From my conversation with brokers (I have a small sailboat for sale), power boats are starting to go the same way piston engine aircraft have gone, i.e. the fuel costs are significantly damaging values. I used to buy and sell small airplanes - as an example, the last airplane I sold for $120,000 would be selling for $60,000 today six years later. And aircraft used to hold their value pretty much, except for inflation.
Sailboats are holding their values ok. Older used sailboats have a solid market, newer used and brand new boats are experiencing some softness.
Just one datapoint, worth little, but FYI.
Kevin
|
|
|
27-05-2008, 11:06
|
#5
|
Registered User
Join Date: Jul 2007
Location: W Florida
Boat: Still have the 33yo Jon boat. But now a CATAMARAN. Nice little 18' Bay Cat.
Posts: 7,086
|
All I know is that the boats (used) I am interested in (only a few) have not come down in the last year.
|
|
|
27-05-2008, 11:18
|
#6
|
Registered User
Join Date: Dec 2005
Location: Worcester U.K.
Boat: Privilege 435 Now Sold
Posts: 1,060
|
Quote:
I know we have individuals from many different countries here and you may not be aware of the housing downturn the US is experiencing.
|
Oh we know about it in the UK. Our incompetent government is trying to use it as an excuse for all the problems they have caused all by themselves.
|
|
|
27-05-2008, 11:34
|
#7
|
running down a dream
Join Date: Mar 2006
Location: Florida
Boat: cape dory 30 MKII
Posts: 3,106
|
all I know is I had a powerboat with 90 HP outboard 10 years ago and cringed everytime I stopped at the fuel pump. that was when gas was 2.00 a gallon.
__________________
some of the best times of my life were spent on a boat. it just took a long time to realize it.
|
|
|
27-05-2008, 15:10
|
#8
|
Registered User
Join Date: Mar 2006
Location: Winnipeg
Boat: None at this time
Posts: 8,462
|
Therapy, do you mean the asking price has not come down? Try some low ball offers, you might be surprised.
|
|
|
27-05-2008, 16:40
|
#9
|
Registered User
Join Date: Jul 2007
Location: W Florida
Boat: Still have the 33yo Jon boat. But now a CATAMARAN. Nice little 18' Bay Cat.
Posts: 7,086
|
Quote:
Originally Posted by DeepFrz
Therapy, do you mean the asking price has not come down? Try some low ball offers, you might be surprised.
|
Yes,
I would begin low-balling if the wife would get on board.
She says, "It is not the right time yet."
She is right about selling the house now. When I said we needed to sell it two years ago she said "NO".
My plan is to see what happens between now and Dec, or maybe Dec of 09. If I do not like what is happening then, I will do something pretty crazy. Everyone that might need to know has been warned.
|
|
|
28-05-2008, 05:05
|
#10
|
Senior Cruiser
Join Date: May 2003
Location: Chesapeake Bay
Boat: Sabre 28-2
Posts: 3,197
|
I have a feeling that home values will not hit bottom before at least the end of the year. I would guess the boat market will be in the same ball park. It's (always) a buyer's market.
|
|
|
28-05-2008, 08:12
|
#11
|
Marine Service Provider
Join Date: Jul 2007
Location: Amstelveen Netherlands
Boat: FastCat 445 Green Motion
Posts: 1,651
|
Quote:
Originally Posted by sneuman
I have a feeling that home values will not hit bottom before at least the end of the year. I would guess the boat market will be in the same ball park. It's (always) a buyer's market.
|
It is od but since the dollar has dropped in value we are getting more inquires and sales from the states than ever before so maybe with the rising inflation people rather invest in pleasure that in real estate or stocks and bonds.
I do not know what triggers this demand but gunboat has the same and Robertson and Caine are tripling their production in the next years ?????
Greetings
Gideon
|
|
|
28-05-2008, 09:01
|
#12
|
Registered User
Join Date: Mar 2006
Location: Winnipeg
Boat: None at this time
Posts: 8,462
|
About 1/4 million home foreclosures in April alone in the US. Maybe some of those folks are looking for a place to live on FastCat's boats.
|
|
|
28-05-2008, 10:08
|
#13
|
Registered User
Join Date: Apr 2007
Location: germany, Berlin, boat at Ft. Lauderdale
Boat: MANTA 42, before Morgan 41 Classic, GibSea 106
Posts: 91
|
Sold the house in Florida (just on time!!) Bought a Catamaran.
At least no property tax to pay!
|
|
|
28-05-2008, 10:39
|
#14
|
Registered User
Join Date: Jan 2006
Location: FL
Posts: 645
|
Quote:
Originally Posted by fastcat435
It is od but since the dollar has dropped in value we are getting more inquires and sales from the states than ever before so maybe with the rising inflation people rather invest in pleasure that in real estate or stocks and bonds.
I do not know what triggers this demand but gunboat has the same and Robertson and Caine are tripling their production in the next years ?????
Greetings
Gideon
|
We have a widening disparity of income in this country, and while the majority are worse off than they were 10 years ago, the top 10% of the income bracket (Your customers) are having the time of their lives. Not to mention with all the baby boomers retiring, you should be selling boats for quite a few years.
|
|
|
28-05-2008, 10:45
|
#15
|
Moderator Emeritus
Join Date: Aug 2005
Location: Carlsbad, CA
Boat: 1976 Sabre 28-2
Posts: 7,505
|
There should be European buyers looking for everything from boats to realestate in the US. With the dollar/euro ration 1.5-1, anything in the US should be a bargain for them.
A down realestate market means home values have dropped. That along with the increased difficulty in getting refi' loans makes the capital to buy a boat harder to obtain. Know I wouldn't have been able to get the money to buy our boat as easily as it was a couple of years ago.
The indeterminate direction of the economy has made people cautious in buying toys and large capital expenditures. That's not good for the realestate or boat market.
Anyone want a cute house in one of the best neighborhoods in Kalamazoo, MI??
Aloha
Peter O.
|
|
|
|
|
Thread Tools |
Search this Thread |
|
|
Display Modes |
Rate This Thread |
Linear Mode
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
Advertise Here
Recent Discussions |
|
|
|
|
|
|
|
|
|
|
|
|
Vendor Spotlight |
|
|
|