Buyers market?

[Buki]

So I just finished an almost year long search for a boat and should be picking up my MacGregor 26D tomorrow morning. As I was contemplating my experiences over the last year, it occurred to me that it is quite the buyers market. Over the last year I investigated dozens of boats. I went to do second looks at 5 boats before I eventually settled on the one I've purchased. Not one of the other boats I looked at has sold. And the one I am purchasing was on the market for nearly a year. And I live in the Dallas area. I can only imagine the choices and prices available in the larger coastal markets. For anyone looking out there, I would encourage patience. There seems to be far more boats for sale than buyers. Any thoughts from you all in other areas?

 

[KD3PC]

Been that way since 2008 at least....midatlantic and chesapeake areas. No end in sight at the moment. I just spoke with a realtor, yesterday, in that area that tells me 2013 had the highest level of to be sold inventory of waterfront homes, ever. Similar with waterfront property. It is not a "price" issue, it is simply that people no longer can leverage things to finance "toys"....be they boats, vacation homes or ...

I have a piece of waterfront that I would like to sell, but with 200 or more "comps"....that really aren't ( I have an 80' pier, 8' MLW, soil work done), I would have to drop my price by half, AGAIN...already dropped it by half since 2008...to sell. Of the three properties that sold last quarter....all were foreclosures. This is raw land...no home.

Far more sellers than buyers. And again, it is often not a price issue, it is a buyer being qualified issue.

Best of luck on your new McG

 

[Ted]

Buyer's market

There is certainly a tremendous amount of used boat inventory out there. A surprising amount of boats have been neglected and in need of $$$, TLC and skilled labor. In my area, friends and acquaintances are still buying and selling boats. The boats that are well maintained and have good quality equipment and sail inventory, seem to get action. Owners/brokers who provide an accurate description with current condition photos usually don't disappoint a potential buyer when they visit the boat in person. Many sellers are shying away from gasoline engines in favor of diesel which puts an additional strain on a potential sale. The abundance of a particular model makes selling one of those boats even more difficult. I would imagine just the opposite is true of scarce designs. Good luck with your search.

 

[Don S/V ILLusion]

I think it's safe to say that there are always more boats for sale than there are buyers.

 

[azguy]

I think it's safe to say that there are always more boats for sale than there are buyers.

Maybe some I think sometimes people are stubborn, really don't want to sell or can't face reality.

We have a C30 in our marina that's been for sale for 6 months at $12,500 it even had a $5,000 bottom job done last summer. I've been told he's been offer $11k and won't budge, it's $12.5k or bust...plus he's paying $500 a month for a slip and the boat never sails...