Boats on Used Victoria and Other Areas

Rain City said:
Thanks! Sorry back to not buying boats
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Man, no one is buying anything. I've got a company to buy, and I'm scared. Amazing deal on a boat, I've wanted to buy has sat for over 45 days, must not be that good of a deal eh?

Did the guy on here looking for a 25 aluminum with a stand-up head find one? I've seen a couple 30-40k centre console aluminum that look good but it isn't even worth posting them here. I've even stopped sending them to my friends. I need tony robbins pick me up!
 
About 6 months ago I predicted a killer boat sale starting Fall 2023. Sticking by that, no way a 4 YO 24' aluminum with twin 150s should be anywhere near 185K. Just can't imagine there is a market for 200K boats this time next year, as HELOCs are pushing 7% and guys homes are worth 2/3 of what they were a few years ago. Keep you cash close fella's, the deals are going to be spectacular, most folks are about to learn they aren't as rich as they think.
 
japhi said:
About 6 months ago I predicted a killer boat sale starting Fall 2023. Sticking by that, no way a 4 YO 24' aluminum with twin 150s should be anywhere near 185K. Just can't imagine there is a market for 200K boats this time next year, as HELOCs are pushing 7% and guys homes are worth 2/3 of what they were a few years ago. Keep you cash close fella's, the deals are going to be spectacular, most folks are about to learn they aren't as rich as they think.
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I don't disagree with most of this statement but homes are worth more now on the island than they were 2 years ago. Sure they've come down a bit but maybe that's shaved a year off the gains.
 
seabeyond said:
I don't disagree with most of this statement but homes are worth more now on the island than they were 2 years ago. Sure they've come down a bit but maybe that's shaved a year off the gains.
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Same here in Kelowna, but nothing is selling so hard to know where the market actually is. Standoff between buyers and sellers right now.

Only 13% of mortgages have hit trigger rates - wait until folks re-up that 800K mortgage at 5-6%, where are people going to get an extra 2K a month? Lots more pain to come, we are in the first inning of this correction IMO. Boat sale fall 2023.
 
japhi said:
Same here in Kelowna, but nothing is selling so hard to know where the market actually is. Standoff between buyers and sellers right now.

Only 13% of mortgages have hit trigger rates - wait until folks re-up that 800K mortgage at 5-6%, where are people going to get an extra 2K a month? Lots more pain to come, we are in the first inning of this correction IMO. Boat sale fall 2023.
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Yes, trigger rates are the buzzword right now, but the often overlooked refinance crowd will be affected. Any change in your job, spouse lost or changed their jobs etc could affect their ability to refinance with the upward rate movement.
 
Aquaholic said:
Yes, trigger rates are the buzzword right now, but the often overlooked refinance crowd will be affected. Any change in your job, spouse lost or changed their jobs etc could affect their ability to refinance with the upward rate movement.
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It has to be something like 20% of all mortgages in which their term is ending in the next year right? And then 20% the next, and so on. All of those people are signing on to massive increases. Boats will be sold to make up the difference in payments. The people that can't ride this out with cash over the next three years are hooped. Two of my three siblings are 100% in that boat.
 
Rain City said:
It has to be something like 20% of all mortgages in which their term is ending in the next year right? And then 20% the next, and so on. All of those people are signing on to massive increases. Boats will be sold to make up the difference in payments. The people that can't ride this out with cash over the next three years are hooped. Two of my three siblings are 100% in that boat.
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Many of my clients and friends were talked into a locked in 5 year rate recently, and thankful they did. Who knows where 5 years will take us but at least they have time to make some changes if need be, sell some toys, think about renting out some space, whatever it takes to get through. Life is not always easy, the strong will survive.

Get your charter license. Back to boats.
 
Rain City said:
It has to be something like 20% of all mortgages in which their term is ending in the next year right? And then 20% the next, and so on. All of those people are signing on to massive increases. Boats will be sold to make up the difference in payments. The people that can't ride this out with cash over the next three years are hooped. Two of my three siblings are 100% in that boat.
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One thing is for sure the banks don't want those assets falling into foreclosure so you can bet they will offer some really cool refi programs. But that call only go so far, and a percentage will fall into foreclosure. It's going to be a tightrope act in 2023, in the name of stomping down inflation and absolutely there will be collateral damage as a result. Unknown is how far the contagion will spread, and surely the toys will be the first wave of selling.
 
ab1752 said:
One thing is for sure the banks don't want those assets falling into foreclosure so you can bet they will offer some really cool refi programs. But that call only go so far, and a percentage will fall into foreclosure. It's going to be a tightrope act in 2023, in the name of stomping down inflation and absolutely there will be collateral damage as a result. Unknown is how far the contagion will spread, and surely the toys will be the first wave of selling.
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Yes this is how it works out, delinquency rates will be low, banks will work with mortgage holders, but toys will get liquidated, all discretionary will get pummelled. Like RC I have a sibling that will have to make some choices, the cabin and airstream will have to go.

Economy is 70% driven by consumer spend so pretty obvious where this is all going, no matter what the BOC is saying about soft landing.

Back to boats, agreed!
 
10k in accessories 35k for a nice family boat. Moored boats likely have the most motivation to sell.

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