I've been considering upgrading my plane to a newer version, so I'm just putting out there that I might be selling my SR-22. The plane is an 03 that wasn't sold until 04, has just over 1000 hrs and has always been hangered. I have complete log books and have all the history needed. There is no damage history, and the plane is absolutely beautiful. I fly very long distances so I'm considering the G3 model for higher altitude.
The plane was Cirrus certified in sept of 2008. The plane is fresh off its April Annual. Also with some minor electrical issues of late, I recently replaced the entire MCU with a new one direct from Cirrus. Brand new alternator, new tires, new brakes and she flies like a dream.
Interior: Leather
Annual: April 2009
Location - KARR - Aurora, IL (35 miles west of Chicago)
Avionics: All the standard stuff, plus.....
• GNS 430 GPS/NAV/COM
• S-Tec 55X Autopilot with alt. preselect
• Avidyne Dual panel system - PFD & MFD
• Avidyne Emax Engine Monitoring
• Flight Director
• Charts
• 4 point engine mount
• CMAX Electronic approach plates
• WX-500 Stormscope
• XM real-time weather
• TKS-based ICE Protection
• SKYwatch
• 3 blade Hartzel propeller
She is a beautiful plane, let me know if you'd like to talk further about purchasing her.
Cirrus N611CT
Well someone is bound to ask so I will bite.
How much are you asking and what do our members think the price should be in this market for this plane to sell in 3 months?
It looks and sounds like a very nice plane. Good luck!
Admittedly, I've gotten numbers all over the map. Appraisers, buyers, wholesalers, everyone who has something to gain.
I would like to know the same, what do COPA members think this should be priced at?
Robert Siracusano: Admittedly, I've gotten numbers all over the map. Appraisers, buyers, wholesalers, everyone who has something to gain. I would like to know the same, what do COPA members think this should be priced at?
Hopefully would sell for $180k and may sell in 3 months based on my stats from another post so ask slightly more than this but not over 200k. (I'm not a Appraiser, buyer, seller, wholesaler or someone who has something to gain)
At that price with all I've put into it, I'll just hold on to it. I would sell it for between 210k - 220k. I've put too much into it to take much less than that. It is a beautiful plane, and I'd rather see it put to use for a charity program than to be sold at a firesale price. I bought it less than a year ago and the VRev when I did was 270k.
I hear ya, but 210 - 220 is not a probable expectation. Fly it until the money runs out and recognize the assembly line will have to shut down to stop the prices from falling. As I have said before this was going to happen even in good times given there are not enough new pilots (especially financially qualified) for the supply that has been produced over the past 6 years.
The statistics are not pretty - I'm guessing 85% or more who put 20% or less down are under water. There are plenty of folks with cash flow issues that would love to get 180k for 2003 SR22 including many banks that are on the other end of the transaction so that is the "FOR SALE" competition. In 2009, the Cirrus repo rate is on average more than 1 a week (just what I hear about) so the stats are sobering.
I could understand that there are reposetions. But you and I both know that a repo doesn't happen over night. people have a dissolution of payments over time that starts with less and less money towards maintenance, upkeep and preventative EVERYTHING that comes with owning a safe airplane. I'd never buy a repo, nor would I want my aircraft to go to someone that is only looking at the cheapest on the market. Cheap is never better, and Cheap in our world, is certainly not safe.
Mine is a safe, well maintained aircraft that will keep a family secure as they use it in general aviation. Not one that was in a family of dissolving finances that resulted in an agreement with a bank that he/she failed to uphold.
This is one of the few things not discussed these days, the type of people that acutally use all these handouts, screw up on their loans and are too selfish to keep their word in any transaction, much less a business one. All I know is, I would never want to buy an airplane from that the guy who couldn't pay his mortgage! I'm sure he did a great job in maintinaing his aircraft along the way....
I can guarantee you, the house across the street from mine is the same size, same shape and has the same amount of rooms. But I wouldn't buy it if it foreclosed, it would have been abused, not maintained, and not somewhere I'd hang my hat.
I have to disagree with you as it relates to the airplane market based on the repos that I know about. All have been in good shape and only one had some down time where it didn't fly. Most of these repo's are part of a larger company situation (quite a few in construction / real estate) and the plane had maintenance up to the last day. You have a good mechanic do a thorough prebuy to vet logs, ect. Your airplane is no safer than any repo that has had a thorough prebuy. Here is a recent transaction example. Guy owns a development company with a 2004 G2 Cirrus purchased new with a loan balance of $330,000 and a market value of $225,000 and this asset is owned in the larger corporation that is facing financing difficulty. You think he will pay that difference between loan and market value to keep the plane? Most are not that financially undisciplined, but they will let it go back to the bank and bid on it through another company maybe. In the bigger picture the guy has properties that are cash flow positive, but when he needs to refinance that 5 year balloon he now has to put up 20% or more for commercial property and the new valuation is 30% less than when originally financed. This exact scenario is going to play out multiple times over the next 5 years in the commercial property world. It has already happened on the residential side and that looks close to a bottom (hopefully).
Robert Siracusano: I can guarantee you, the house across the street from mine is the same size, same shape and has the same amount of rooms. But I wouldn't buy it if it foreclosed, it would have been abused, not maintained, and not somewhere I'd hang my hat.
Any rational buyer knows this and will pay what they perceive the value to be where they can fix it up to the standards of your house and do so for less than market value for a good house such as yours. It isn't for everyone, but it was very rewarding for many of us during the RTC days.
either way Farah Faucett will be missed. She was HOT!!!
Robert Siracusano: either way Farah Faucett will be missed. She was HOT!!!
Agreed. Now Michael Jackson not so much (missed or HOT), but he had some interesting music for a while.
And Ed McMahon! where will my publishers clearing house come from now?
Robert Siracusano: And Ed McMahon! where will my publishers clearing house come from now?
Exactly. Now speaking of the REPO man, Ed got a visit and lost his house to foreclosure (maybe technically a short sale in the end).
Randy Lambeth:Now Michael Jackson...
Great career move.
Kevin Moore 260se/stol-Katmai with BRS; occasional Cirrus renter
