All, Just to give an update on the issue. Pulled the boat this weekend. Some water had come in around the compression post so I put 5200 around it as suggested by Crazy Dave in the archives. Checked the seal on the water ballast tank valve and it appeared fine. Put a new rubber washer around the water ballast tank valve stem (under the wing nut). Put the boat back in the water late yesterday afternoon. No water around the compression post so that is not an issue anymore. Ballast tank filled up normally and a litte water came throught the vent hole but not like before. Put the plug in the vent hole and little to no water leaked in. So I think the issue is resolved. To answer other questions in your replys. The boat was lifted from the water via travel lift when I put it in the yard to paint the bottom. Lift operator is highly experienced and they were aware the boat was water ballast. They placed the boat on the standard cradle. No blocks were used. I watched the entire operation and did not see anything out of the ordinary. I painted the bottom myself so by default inspected every inch of the bottom. I watched them lift the boat from the cradle and back into the water with nothing out of the ordinary. I motored the boat back to marina with no issues. I am concerned from some of the replys that the water ballast tank could have cracked? How would I tell? How do you inspect it? I was under the impression that it was molded into the hull. Also this weekend I put foam pipe insulation around the steaming/anchor and VHF antenna wires in the mast becasue they made so much noise slapping around in there. No conduit was installed in the mast for the wires. Now only silence. Again, thanks for the input and advice.