Real Estate Sales Inspire Boat Sales At The Lake

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Posted: Friday, October 9, 2015 11:43 am

Real Estate Sales Inspire Boat Sales At The Lake

by Connye Griffin

LakeExpo.com

LAKE OF THE OZARKS, MO. — At last week’s Real Estate Symposium, Jeff Krantz, co-owner of RE/MAX Lake of the Ozarks, invited three businessmen to answer questions about an industry vital to the health and growth of Lake of the Ozarks: boat sales.

Mark Brick with Village Marina, Randy Kelly with Kelly’s Port, and Dale Law, Business Manager for MarineMax, shared their experiences with marinas and boat sales to shed light upon the real estate industry.

Dale Law reported boat sales typically happen after a real estate sale. Furthermore, the property purchased correlates to the boat. If an owner chooses a million-dollar property, he or she is likely to shop for a million-dollar boat.

Kelly offered that a boat purchase can also motivate a boat owner to buy property. In fact, he added, slip rental correlates to the health of the economy. When the national economy was in trouble, a boat was often the first to go on the market. When the economy rebounded, those who had held on to their boat and rented a slip began to look for a second home to buy. They then moved their boat to the slips available with that property instead of continuing to rent at a marina, saving the new home owner money while the economy continued to rebound.

Brick said that the big boat market is in decline. Law agreed. New boat title sales tend to be boats around 25 or 26 feet in length, Brick said. The greater share of the market, as he experiences it, is in pontoon sales.

One reason for a reduction in big boat sales is the difficulty in obtaining a loan. In 2007, one year before the national economic crisis, owners could buy a boat without putting any money down, and they could finance it for 30 years. If they did so, they were soon upside down, Kelly pointed out. This contributed to an increase in foreclosures on boats when the economy suffered in 2008.

Now there are fewer lenders, and those few require a down payment as well as a credit review. That tighter scrutiny may not necessarily destroy sales growth, however. The boat market enjoys a 3-4 percent annual growth in sales, according to Brick. But Law cautioned some of that growth is attributed to the higher cost of boats. Technological additions, including blue tooth and joysticks, ensure that boating remains an expensive sport.

Law also pointed out low fuel prices have been a boon to the boating industry. With more disposable income, buyers are ready to play on the water.

© 2015 LakeExpo.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



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Friday, October 9, 2015 11:43 am.


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