**Yeah, despite what the previous owner told you, Crealock 37s do not have encapsulated ballast. At least not encapsulated in the usual sense, which typically refers to ballast placed into a portion of the fibreglass hull that is shaped like a keel.
Our boats hav an external lead keel casting that is bolted to a keel sump/stub in the hull. It is the same for any of the Pacific Seacraft models with fin keels (i.e. Crealock 31, 34, 37, 40, and 44). Only the older designs with full keels (Flicka, PSC 25, Mariah 31) and the Dana 24 had internal, encapsulated ballast.
Ironically, there was a question on a ground plane antenna system that had to do with grounding. In answering the question, Steve Brodie responded with an answer that seems relevant to this thread too. Please see the "Ground Plane" thread and the posting I made about 1:00PM today (1-7-10)