Slips and valet for 2021 tight market?
 

Just got my valet renewal for 2021 at MVYC. Up about 10% from this year, but I think still a fair price. The service from Irwin Marine is 100% top notch. This is earlier than usual and they're looking for an early commitment before they go to the waiting list.
I've seen some classifieds from folks looking for slips for 2021, but not a lot of owners looking for tenants. Is this market going the way of lakes region real estate?

Akwa Marina went up also for 2020-2021.


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All I can say is I'm sure glad I bought last fall instead of waiting another year!

Buy the slip, get an enclosed boat, damn I am full of good advice! Now I know why you miss me so much! :D:cheers:

We grew tired of the concern each year of losing our spot. I am glad we bought too.

One just hit the market in MVYC at $165k!

Holy Dock Space Batman
 

:eek::eek::eek::eek::eek:

Dave

Wow! $165K
 

Times, they are a-changin'.
Makes you wish you still had a boat, right, Dave?

Slips
 

We just purchased one last week at probably a 20% increase over what we could have paid a few years ago. It worked out fine for us as we're happy with what we paid given the market. I don't see prices softening at all, they are only going to increase especially with all the boats they sold this season. One large Marina I know had their best year in company history. I say if you can find one at a decent price grab it, it's only going to get tougher in the future.

I wonder, though, how many people might discover that the boating life doesn't fit them, or that their lifestyles don't accommodate lake life.

My first couple years were spent at a marina doing valet and there was always a pristine, unused boat in the water next to the launch. I happened to meet the owner one day and was told he was selling because he just couldn't find the time in his life. I think we might see a fair amount of that in the upcoming years. [emoji2369]

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I agree a percentage will drop off but the net result will be an increase. They aren't making anymore waterfront or slips and public access has been getting pinched for years. Values on everything around the lake have increased, my belief is it will continue.

Yep, always great advice! If you could just give me advice on how to get the " Spawn of Satan" deported back to hell, I'd be eternally grateful! [emoji48]

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2020 hindsight
 

In 1980, when local motels were being converted to condo's, we bought one. My wife said we should have bought two. Keeping teants moving in and out on a weekly basis was a real pain, so we sold and bought a boat slip. Yup. Should have bought two.

Dropped my prop off at H&H prop repair in Salem Ma today. To say he was busy is an under statement.

There's a lot of rocks out there!! :D:D

All kidding aside H&H is the best!

Dan

And I hit more than one in the month of Oct.:(

so far so good....have a few weeks left to go, and the water level's pretty low at the end of my dock...keeping my fingers crossed!

Quick sale
 

A family member reports that a slip at MVYC went on the market 3/30 and is already (4/1) under agreement for at least the asking price, $110K, for a 10 x 36, non- bulkhead location. No marketing, only on the MVYC classifieds as far as I can tell. That's quick. The tax card indicates it sold in April 2020 for $70K.

You can have my 40 ft deep water, unlimited beam slip for $295K. It comes with a 38 ft cruiser which sleeps 4 in luxury, or 6 comfortably. ;)

Where else can you get 40 ft of Winnipesaukee water front (water top?) for this steal of a price! :laugh:

Perhaps in this market, this price is too low? :D

Someone just posted a slip at Gilford Yacht Club for $9500/season. Yikes!

Slips and valet for 2021 tight market
 

A few years ago the ski industry was overrun with slope-side ski in-ski out condos, then the economy changed, and these extremely overpriced condos were on the market at "give-away" prices. Is the boating industry in danger of following in these footprints? To what extent is COVID driving some of this increase in boating and dock usage, and, when society is back to the pre-pandemic level of activity, what will be the activity level then?

I don't have a boat or a dock, I don't live on the Lake, and I am not an economist.

When there's a recession the boat loan is the first to take a hit. We don't know when that will be but it will happen.
Even if you own the boat outright, if money is tight, it doesn't go in the water and slips become available.

Maybe my price is too low! :eek:

About 20 years ago, when the economy was in a slump, there were about 10 slips at Mountain View that were vacant for the whole season.

At that time over half of the people who owned slips rented them out instead of using them. I do not know what the number of sips rented VS used by their owners is now.

The economy is cyclical. However, what if you sit on the sidelines waiting for the next downturn to get a good deal and it never comes?

I don't think it's a question of if it will come, but a question of when it will come.

Looking at history, downturns have occurred in the last 34 years in 1987, 2001, 2007, and 2020. Some have been brief (2020), others have been long (2007).

Terrorism caused the 2001 setback, and Covid caused the very brief 2020 setback. Who knows what's next around the corner!

Just have your checkbook ready to go!