Wednesday, September 10, 2008

The Difference Between the Have's, the Have Not's and the Have Lots and Lots....


The recent influx of super yachts in Clayton has certainly created a great deal of buzz in the community. There is no doubt that these are seriously big yachts. I've had the pleasure of cruising on 80 and 100 ft boats, but the "Battered Bull" - fantastic name for a stock trader - and the "Blue Moon" at 172ft and 192ft are truly world class yachts.

















A quick Google search reveals that the estimated sales price of most mega yachts of this size is in the $40+ million range when new (just an estimate). So earlier this week you could conservatively say there was $70 to $80 million worth of boats tied up at Frink Park. That got me thinking....by comparison what is the value of every piece of real estate for sale in Clayton right now?



A quick search of the mls reveals that there are 128 properties (land, homes, commercial) for sale in Clayton right now with a combined asking price of just under $38 million (frankly, that total is skewed by two $6 million properties - good luck selling those).



I thought it was an interesting juxtaposition that a single boat tied up at the town dock could be worth more than the entire value of the real estate for sale in our town.


Cheers!


PS - Note the new web address - http://www.grindstonefinancial.com/


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