One of the "hidden" costs or difficulties in appraising marinas is the lack of application of uniform accounting standards. It's not that it's not been proposed - the International Marina Institute did a great job in publishing "Uniform System of Accounts for Marinas & Boatyards". Yet I am hard pressed to recall even one.
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Marina Listings on the Rise
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Posted by John Simpson
According to the U.S. Census Bureau, in 1999 there were 8,200 U.S. marinas. The National Marine Manufacturers Association (NMMA) estimated that in 2002 there were 12,000 marinas, boatyards, yacht clubs, dockominiums, parks, and related facilities (note that this higher number includes properties that are technically not marinas, although they are maritime related). No new studies.
Read moreMarina Foreclosures Increasing
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Posted by John Simpson
I am inundated with foreclosure calls from both sides of the fence. Owners are calling asking us for advice when the notice of default comes and lenders are calling just as they send these notices out. After years of very easy lending practices, many marinas are in trouble. This is especially true for marinas that.
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