The Market Has Turned

[tropicalescape]

Originally Posted by Steezypops

A recession is when your niegbor losses his job, a depression is when you lose your job. Just sayin. I just came off a terrible financial stint. I'll save that story for the thread titled "Junk show". Anyways. . . I am shopping at this point and hoping to have cash in hand for a purchase in May or April. I am with Jamel! Me and my kids are going to be live aboards and avoid the risk of a degradation in quality of life. I have over 30 boats bookmarked in my favorites. I have been shopping for 6 months and have been watching late model single hull sail boats prices decreasing. I found a 35' ketch 2 weeks ago with a pilot house in the mid $20K's. A month ago anything with a pilot house was in the mid $30k's and up.
Question: does anybody have the skinny on how to find repossessed boats for sale?
It is a bit difficult shopping for a boat on the west coast from SLC, UT. Marina websites tend to be a bit primitive filled with outdated phone numbers and contact information. It is quite amazing to me that these modern business are still living in the 90's.

Best bet is to take a vacation to Fla.or Calf. and look around at marinas..take some money and jump on what you like..

[Steezypops]

TE-just had side bar with webejamin on this very subject. I totally agree with you, at this point it is a time/ money issue. I am tucking away the cash as fast as humanly possible. A trip would double dip into that right now. I am sailing the Great Salt Lake momentarily, trying to get my sea legs, and have already discovered some must haves for my boat. I will eventually go but would sure lke to have multiple boats lined up for touring. It is just so spotty right now. The boats are literally all over the map. Right now I am surfing the internet and forums to gather information. Thanks for the advice.

[VirtualVagabond]

Originally Posted by David_Old_Jersey

So speaks a man who is self employed IMO the secret is getting off one's arse - unfortunately that is my great weakness

Unless we all do go back to the economic stone age (IMO jury still out on that one) then always will be the opportunity to make money working for self - helps a lot though if you didn't p#ss all your capital away in the good times on toys and living above income, and are now left with the financing.......

Looks to me like we're fast forwarding to it...

[VirtualVagabond]

Originally Posted by Randyonr3

I was always told, if you want somethiong out of life, you have to go get it yourself..
dosent matter to me what is going on with the world around me or weather the market is up or down and I dont pay much attention to it..
what matters to me is to gain what I want, and be happy about it..
All I have is paid off, including my home, I have a fair amount of money in the bank, My business is booming, and we just signed the lease yeasterday on the building next to us as we're expanding..
So, you've got a choice, to set around bitching about how bad it is, or get off your a** and do something about it..
Its hard for me to accept the state of the economy as this is our best year yet and everything is looking bright .........
Have a great day everyone....................................

It's my guess you work hard, provide quality work at a fair price, and are getting your rewards for it.

But it doesn't alter the fact that all stats show that there is a huge amount of economic grief around.
The fact that it's not evident in your particular economic bubble of activity doesn't mean it doesn't exist. It just means you don't see it, and I'm sure not knocking you for that!

And I do agree that attitude often has a lot to do with it.
The fact that unemployment is 10% represents a big economic problem... but it also means 90% of the working age public have jobs. That sounds pretty damn good to me. If I could get those odds in a lottery I'd buy a ticket every week!

I think many on here are not complaining about the economy either. All of us looking to but a boat are hoping like hell the price reductions continue for a little longer!!

We had the frustration of a long sales cycle to get the house sold, and accepted a lower offer to get that step behind us.
But we should be able to make up for it somewhat with reduced boat prices.

Now if I could just get my business sold we could start wading through the piles of boats on the market...

At the end of the day, everything is negotiable except the ticking clock...

[xxuxx]

Originally Posted by zeehag

beware of false changes. this is gonna get a lot worse before it gets any better.

Amen to that!!!!!

[Randyonr3]

Originally Posted by sdowney717

WHO is going to hire all the unemployed?

I've got positions for two to three people in both our shops.. You would think I could find someone somewhere that would be willing to go to work............Not a chance.. I've gone throu 5 people in the last 6 months and all were a great disappointment...
The last guy worked for two weeks, left the shop and him alone for a couple hours while I was out on a boat.. got back and it seemed he took it upon himselve to alter the design of the cover of the boat and also did some damn sloppy work..
when I brought it to his attention, his reply was, dont get your shorts in a pinch, the customer wont see the inside anyway.........
Well, thats not really what I wanted to hear.........
What I have done thou is contact the "VA" office and offered the business to a vet......I'll train them, and over the next couple of years, turn over the business to them,at no charge, with the stippulation that When we come back from our jaunts around the world, we'll be able to supplement our retirement by working part time for them.. This way, we'll always have a place to come back to..

[JRM]

Originally Posted by xxuxx

Amen to that!!!!!

Heh. Just to pile on... I heard a web talking head discussing the economy earlier, specifically the jobs bill and it's relation to the global economy. He said something along the lines of, "There's no point to being the best horse in the glue factory."

It's rapidly become one of my favorite quotes. Endless applications, including the current boat market, the way things are going.

To the guy who's looking from SLC, there's a 36' Cheoy Lee Pedrick in Ventura Harbor that's been on the market for almost two years now, and they were willing to take around $35K back then. The admiral wasn't willing to take on the project back then (and having looked at more boats now realizes it wasn't that much of a project afterall), and now wants something a bit bigger (I've created a monster) or I'd have already bought it. And if you're in need of a broker, call Greg Weil at Seacoast Yachts (805) 962 8195. There's also a Cabo Rico right next to her that's been on the same amount of time, and has finally started dropping the asking price.

Heck, if it's between $50K and $150K, and in CA between San Luis and Channel Islands, I've probably already walked it. PM me if any of your boats fall into that range...

JRM

[zeta]

Originally Posted by Randyonr3

What I have done thou is contact the "VA" office and offered the business to a vet......I'll train them, and over the next couple of years, turn over the business to them,at no charge, with the stippulation that When we come back from our jaunts around the world, we'll be able to supplement our retirement by working part time for them.. This way, we'll always have a place to come back to..

That is great and a very novel idea!

[Steezypops]

JRM- thanks for the contact info. I will contact Greg for sure. Given my finances and timeframes I am needing to stay under $30K. I am prepared for the backlash of that price range especially given the size of boat I want, but I have actually found many attractive purchase in my price range. From my shopping experience the past 6 months, it seems to me that this guy with the 36' would be much more willing to take something much closer to my price range.
Zeta- I agree- I just sent in my resume.

[welshdiver]

Yes, there are "a few" business's that are doing gr8t like security as there are companies that are going it bankruptcy & need security so thats one that will do well , but there are others like the meat factories here as the sheep are being send abroad alive or the lambing season is bad so these places have gone & taken over 900 jobs with it.
I think we / well most of us who wish to by a catamaran want the best deal , like the people who are selling they want the best they can get.
I also think that the reason why the whole world has gone the way it is , is because of bad management the directors of big companies want big bonuses & especially the banks & yet they say they have no money & require pay increase ??

[zeehag]

anyone wanting to come back to a business-- have ye considered remaining in the business in a virtual sense and making sure of a position when you return, should you decide to so do ..... and perhaps a small percentof the businesss as you sail......

[JRM]

Originally Posted by Steezypops

JRM- thanks for the contact info. I will contact Greg for sure. Given my finances and timeframes I am needing to stay under $30K. I am prepared for the backlash of that price range especially given the size of boat I want, but I have actually found many attractive purchase in my price range. From my shopping experience the past 6 months, it seems to me that this guy with the 36' would be much more willing to take something much closer to my price range.
Zeta- I agree- I just sent in my resume.

If you're looking sub-30K you needn't really bother with a broker. They're less than stoked about dealing in that price range because there's generally not much in it for them. You'd have much better luck on Craigslist. A guy at work just parted with his Catalina 30 for $17K, sold it on Craigslist. Hard to get a good deal on a sub $30K broker listed boat because they still take like $4k commission, which comes out of the sellers pocket. Not that they aren't out there, just most people who really need to sell are on Craigslist.

There's an Ericson 26 here in SB right now listed at $10K, with a working Norcold fridge.

JRM

[tropicalescape]

Originally Posted by Randyonr3

I've got positions for two to three people in both our shops.. You would think I could find someone somewhere that would be willing to go to work............Not a chance.. I've gone throu 5 people in the last 6 months and all were a great disappointment...
The last guy worked for two weeks, left the shop and him alone for a couple hours while I was out on a boat.. got back and it seemed he took it upon himselve to alter the design of the cover of the boat and also did some damn sloppy work..
when I brought it to his attention, his reply was, dont get your shorts in a pinch, the customer wont see the inside anyway.........
Well, thats not really what I wanted to hear.........
What I have done thou is contact the "VA" office and offered the business to a vet......I'll train them, and over the next couple of years, turn over the business to them,at no charge, with the stippulation that When we come back from our jaunts around the world, we'll be able to supplement our retirement by working part time for them.. This way, we'll always have a place to come back to..

You want to play chess?

[Doodles]

Originally Posted by Randyonr3

I've got positions for two to three people in both our shops.. You would think I could find someone somewhere that would be willing to go to work............Not a chance.. I've gone throu 5 people in the last 6 months and all were a great disappointment...
The last guy worked for two weeks, left the shop and him alone for a couple hours while I was out on a boat.. got back and it seemed he took it upon himselve to alter the design of the cover of the boat and also did some damn sloppy work..
when I brought it to his attention, his reply was, dont get your shorts in a pinch, the customer wont see the inside anyway.........
Well, thats not really what I wanted to hear.........
What I have done thou is contact the "VA" office and offered the business to a vet......I'll train them, and over the next couple of years, turn over the business to them,at no charge, with the stippulation that When we come back from our jaunts around the world, we'll be able to supplement our retirement by working part time for them.. This way, we'll always have a place to come back to..

An admirable idea, but I wouldn't do it. Too many things can go wrong before you get back. Sell for what it worth and save your worries. If you are as good as you sound (and I'm sure you are) you won't have a problem finding work when you return.

[welshdiver]

Originally Posted by Doodles

An admirable idea, but I wouldn't do it. Too many things can go wrong before you get back. Sell for what it worth and save your worries. If you are as good as you sound (and I'm sure you are) you won't have a problem finding work when you return.

Sounds like you just require the "right" person or couple to run it for you, first of all what do you do ? I owned a water sports Centre in uk & also found some "idiot staff" that didn't last long. But I also found 5 gr8t staff & was able to leave one man in charge & he run it like it was his own company but I had to pay the right money for that person, but it was well worth it at the time, but had to close due to the building being sold.
I ended up going to Croatia to work & running a dive centre there for a season
So I was lucky to have a good boss after I had run my own place.
So all i am saying is there are people who can run things for you the way you want it run !!!