Owner financing on '01 bath & 1/2, 2 slides - Printable Version

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+--- Thread: Owner financing on '01 bath & 1/2, 2 slides (/showthread.php?tid=447)

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Owner financing on '01 bath & 1/2, 2 slides - rheavn - 01-09-2013

This one is for sale in Las Vegas, NV. Matching stacker available for $45,000. Not long ago he had this coach listed for $299,000!

Senior moment...........

http://www.nationalmultilist.com/listing.php?listing_id=163201

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RE: Owner financing on '01 bath & 1/2, 2 slides - Flick - 01-09-2013

Steve did you include a link that I am not seeing? Sorry viewing on my phone so might be missing it.

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RE: Owner financing on '01 bath & 1/2, 2 slides - rheavn - 01-09-2013

Sorry Todd. It was me not you. It has been corrected.

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RE: Owner financing on '01 bath & 1/2, 2 slides - Flick - 01-09-2013

So I have heard you say this is a buyers market looking at some of these units for sale. Can you give those of us new to this some perspective when prices started to recede and by how much do you think they have? I see a few of these that have been discounted y what seems like significant dollars. There sure are some beautiful coaches out there. Are there typical low and high seasons for selling in terms of quantity available?

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RE: Owner financing on '01 bath & 1/2, 2 slides - rheavn - 01-10-2013

Todd,
Motorhome prices were flying high through the mid 2000s. Newells jumped to well over a million. Other brands also had big increases. The used market was holding strong. 10-15 year old Newells were still selling for $300,000 and up. Chester Stone's coach was listed at $280,000 for several years and the seller would not deal. My coach was listed for $320,000 for over a year and sold below $200,000 in 2010. Coach # 551 is currently for sale for $164,000 and is not selling--in 2010 the same coach was listed at $300,000 and the seller would not deal. Currently there is a 2001 3 slide coach for sale at Motorhomes of Texas on sale for $164,000 and it is not selling.

There is a reason for the buyers market. Real estate was flying high and people had easy access to cash to buy motorhomes. This cash has dried up. Major banks prior to 2009 lent money on up to 15 year old motorhomes with ease. The rule now is major banks won't lend on any motorhome that is older than ten "model years" old. These motorhomes are considered luxury items and high risk. This is why you are seeing lots of 10-15 year old motorhomes on the market and prices are crashing. This is not a Newell only issue it is all motorhomes and especially the high end models. Newells that would have sold for over $200,000 a few years ago are now being listed in the mid to low 100s. The one part of the Newell market that seems to be holding strong is the under three year old ones and the older classics in the $50,000 range.

I can't leave out the recession that caused many "luxury" items, including motorhomes, to be foreclosed on. This put a glut of used units on the used market that drove prices down. It also led to the banking changes. Business cycles are cyclical, but I don't foresee an upturn in the near future due to a depressed business climate.

As to when is the best time to buy, I've always found sellers get less demand in the winter, aren't using their coaches and are more willing to deal. I have bought four of my five motorhomes in December before Christmas.

Another reason is fuel prices. Fuel prices are being forecast to hit record highs in 2013.

With that said, you can't take it with you and I don't regret owning a motorhome continuously since 1980.

These are my personal views and others may see things differently..............................

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