Spinnaker Cove Yacht Club

[NHskier]

We have an opportunity to rent a slip at Spinnaker Cove Yacht Club for a new boat purchase. We're new to boating, starting out with a small bowrider (20'), and trying to get a feel for the place.

I know that being in Paugus Bay we're going to be dealing with Weirs Channel - not my preference but think we can live with it.

Any comments, good or bad, on Spinnaker Cove? How about the general atmosphere - is it family oriented? Snooty (people have lots of $$$ and let you know about it)? Primarily large boats or a mix (will we be out of place with a 20 footer)?

As you might tell from the questions, we want to be sure we'll feel reasonably comfortable there. The facilities look fine (nice beach, etc.), but we don't want to find ourselves in an environment where everyone's trying to outdo each other.

Not offense intended to anyone and I'm not trying to imply anthing. We all know there are different types of social environments and this is just an honest question.

thanks for any comments.
NHskier

[Liquorish]

Hi nhskier,
In my opinion there is no nicer yacht club on the lake..The facilities are great, beach, clubhouse, full kitchen, clean etc... I'll agree that the only drawback is the channel,but the pluses outweigh the negatives.
The mix of people is nice too, lots of kids, both young and older.. Boats range in size all the way to 45ft.. have found that after 6yrs, the community at SCYC to be very friendly and outgoing.
Hope this helps.

[RamJet]

Nice web site for SPINNAKER COVE YACHT CLUB. What does a rental slip cost and what services are provided other than a parking place for a boat?

[LDR4]

Definately the nicest club on the Lake.
Slips range from $3500 to $6000 per season.
Facilities include cable,electric,pump out,Clubhouse with pool table, 2 TV's
showers, kitchen etc.

Very Family oriented

[NHskier]

Thanks for the input. After some consideration we decided to not go ahead with this particular purchase and slip option.

NHskier

[Aquadeziac]

Just as an observation and for what its worth. I was out exploring last weekend on my jetski and happened to take a trip through Spinnaker Cove to check out what I have been missing. It sounds like this is a place to die for for the opportinity to reside there. But I seemed to notice numerous signs on slips "For Sale" and "For Rent". It would seem if this place was so "to die for" they would have a waiting list (like WAM by the way) and there would be no slips available what-so-ever.I decided to investigate. In this site's classified alone there are seven slips for sale and one slip for rent. On this site alone. If that club is so sought after why are so many people bailing out? They are followed by MVYC with five for sale and two for rent. Are they really that people friendly? Personally I enjoy being able to bring my dog to the lake if I want to. I also enjoy having friends or relatives on the boat and a place to park their cars. Just my $.02.

[jrc]

Apples and oranges comparing SCYC and MVYC to WAM. WAM is owned by Fortier (sp?) family and all the slips are rented. The rental prices tend to set low enough to keep the place filled and a good long waiting list. During slow times the waiting list does skrink. During the late 80's when my parents moved their boat there was no list.

SCYC and MVYC are all condos and individually owned. Real estate prices and other factors drove the prices up and now a lot of people are trying to cash out before the prices fall. (When they fall, I'm looking for a bargain). Since the slips are individually owned the rental prices tend to vary. One multiple slip owner in MVYC always prices his rental slips $1000 dollars above the going rate. His slips are always the last to rent. Usually someone would be stuck in late spring looking for a spot and pay his price. This year he got stuck with a couple empties and he may rethink his strategy.

[LDR4]

As a slip owner at SCYC for over 7 years I can tell you it is a great place to have a boat.
A few of the slips that are for sale are for sale because the owners want to get bigger boats and would look to buy a bigger slip there. With a club that size (91 slips) you will always have several for sale or rent each year.
Yes there are no pets allowed but (in my opinion) that is a good thing.
There is plenty of guest parking outside the gate and the facilities are outstanding.

[Paugus Bay Resident]

With a club that size (91 slips) you will always have several for sale or rent each year.

Ditto for MVYC with over 250 slips.

[bobio]

I took some time this morning to check out this club. It was cold and drizzly. A nice man, Captain Bob, showed me around. Great club house with clean facilities. Nice bar, comfortable furniture and ample parking. The docking was well laid out with many different size boats. I would consider renting or purchasing in the future. The only drawback is the no pet rule. Many boaters who have dogs like to bring them with them. Can someone tell me if they are allowed on the boat if they do not roam the grounds? I think this is a negative for potential buyers. I would also like to know what the dues are and the taxes.

[codeman671]

Prices on slips definitely appear to be softening up a bit. I have to say though that asking $159k for a slip in GYC seems a bit out of control. Granted it is a huge slip but come on???

[jrc]

$159K for any slip seems high, but it's all supply and demand. If you believe the press, real estate prices are softening and vacation travel is slow. But that's a 50'x16' slip, there are very few of them on the lake. Silver sands has a 41' Carver in stock, that a $400K boat, so $159K to park it doesn't seem too bad.

[GWC...]

Originally Posted by codeman671

Prices on slips definitely appear to be softening up a bit. I have to say though that asking $159k for a slip in GYC seems a bit out of control. Granted it is a huge slip but come on???

Give a little thought to how much you would price your place at the Lake, run the clock back 8 years, and you could make the same statement about it.

Also, perhaps you should explain your point of view to Gilford. The appraisals for the slips at GYC increased this year - softening, you say?!

There will always be those who over-extend and feel a need to soften their price. They're in it for the short-run, quick buck.

If you own a boat that requires 50 feet of wet storage, your options are very limited, as in very, very limited, unless you do not mind dinghying your provisions and your group every time you desire to spend time on the Lake!

Everything is relative and if you and your relatives are wealthy, $159 is a bargain.

One last thought, the PC world is not over-priced, is it?!

[codeman671]

Originally Posted by GWC...

Give a little thought to how much you would price your place at the Lake, run the clock back 8 years, and you could make the same statement about it.

Also, perhaps you should explain your point of view to Gilford. The appraisals for the slips at GYC increased this year - softening, you say?!

There will always be those who over-extend and feel a need to soften their price. They're in it for the short-run, quick buck.

If any of the real estate agents care to chime in on this one I think that you will hear the same, slip pricing has come down a bit. Check this forum, the pricing at MVYC has definitely slid a bit. Yes, appraisals in GYC went up this year BUT SO DIDN"T THE WHOLE TOWN OF GILFORD!!! My house just went up $140k. I am sure there will be plenty of people chiming in on this over the next few weeks as they open their version of the letter I just got from the town. Just because the town reised the appraisals does not necessarily indicate the true market value is up as well. A neighboring lot to mine can be bought in the low $200's with comparable topography, frontage and a bit more acreage yet mine is appraised at $265k. The property in question has been on the market for a few years now with no solid hits.

As far as being in it for the "short-run, quick buck the dollars and SENSE of slip ownership these days is not where it was. There really appears to be no shortage of dockage on the lake, especially with crowds down. I think that we all agree there is no abundance of slips that big nor is there an abundance of boats that big on the lake either. With interest rates where they are and pricing as high as it is honestly it is more cost effective these days to rent than to buy. Figure your mortgage, taxes, insurance, club and maintenance fees and it is certainly a lot higher than the $4200 I pay a year to rent if I was to buy the same slip.

And no, I do not think the PC world is overpriced.

[Paugus Bay Resident]

Slip prices are starting to come down. At MVYC, there is a 38 X 13 slip that was originally listed at $119,900, then 99,000 and now 92,500. It's been on the market for a while. There are comparable slips (size and location wise) that are still priced higher. Many owners that I have talked to don't need to sell their slips (they usually rent them out), so they feel they are in a position to hold out for their price (I have such a listing). Last year slips (again similar size, etc.) were routinely being sold in the $110,000 range, but the bar has now been set at $92,500 with no takers.

The slip I mentioned above sold for $28,000, 10/2000.

[GWC...]

Originally Posted by codeman671

Prices on slips definitely appear to be softening up a bit. I have to say though that asking $159k for a slip in GYC seems a bit out of control. Granted it is a huge slip but come on???

This online Laconia Citizen article seems to disagree:

Originally Posted by Citizen Online Monday, October 2, 2006 Local marinas get good news in assessments

One such individually owned boat slip at Mountain View increased by 103 percent, from a value of $84,000 in 2005 to a value of $170,900 this year. The minimum increase among the slips there was 97 percent, with a previous value of $64,100 and a new value of $126,600.

http://www.citizen.com/apps/pbcs.dll...102/-1/CITIZEN

[codeman671]

Originally Posted by GWC...

This online Laconia Citizen article seems to disagree:


http://www.citizen.com/apps/pbcs.dll...102/-1/CITIZEN

I'd love to see the ACTUAL SALES DATA to support any of this regarding MVYC. Prices at MVYC have softened-Period. PBR speaking from real estate experience has already validated this. Check out the for sale listings in MVYC currently and compare to a year ago. Its quite hard to argue that they have not slid. I think that many already feel that Corcoran can be off his rocker at times in his appraising.

[Paugus Bay Resident]

In terms of slip prices at MVYC, they can vary widely depending on location (as well as size of course).

A & B dock for example have a grass areas behind the slips for picnic tables, barbeques, etc. Views vary as well. It is my understanding that these factors were never considered before in terms of assesment and are now part of the equation (I was told that some valuations actually went down due to this as well).

Remember too that, while it is supposed to, assesed value and what the market is willing to pay aren't always equal. I believe assesments were also done prior to recent market corrections.

Consider the example I mentioned in my last post. It's still on the market at the reduced price (111 days). 12 months ago, it probably would have sold at that price.

The market seems to be stabilizing, but my feeling is that slips need to come down a bit more to generate any activity. In terms of sale data, there hasn't been much activity in the past 9 months. A lot of these slips however end up being private sales and don't show up in MLS.

All this will likely do is increase rental rates (if anything).