Spot on Cruiser.
New guy here and hopefully soon to be buyer. I could not agree more with the flood of poorly maintained aircraft on the market, the smaller group out there that are impeccably maintained and updated and selling for a premium (and understandably), and then the perfect buy that pops up here and there. While the panel is a good discussion, basic upkeep seems to be lacking in so many of the ac listed.
When I see a plane for sale that desperately needs a paint job and interior for 30k, and find another for 40-45k that looks like an 8 in and out, with even slightly better avionics and newly sealed tanks, it is a no brainer. Me having to update the paint and interior are not something I want to undertake unless I am getting such a good deal on the plane it makes it worth the time and effort. If that plane would be worth 40k in top shape, and if paint and interior is 10-12k like I am hearing from a few owners I have spoken with, I wont look at it for more than the low 20s tops. It's not just the cost to get it up to par, but the time, effort, downtime, and headache to do so. I don't think many buyers want to go through the extra effort to break even. Even more importantly for me, a poorly maintained exterior and interior on a vessel of any kind makes me doubt, fairly or not, the quality of maintenance and upkeep mechanically. Guys that do top notch Mx usually keep the visual aspect just as clean and up to date.
So in the meantime I am doing my homework, narrowing down what ac I feel fits out mission best (with Mooney still probably in the top spot), but am almost to the point where if or when that rare deal pops up I can jump on it without hesitation.