Home Buying in Van Alstyne>Question Details

Roxanne Hope…, Real Estate Pro in Dallas County, TX

does a jim walters home appreciate with time or depreciate with time?

Asked by Roxanne Hopewell, Dallas County, TX Tue Jun 2, 2009

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Well I would think depreciate. My father in law has a Jim Walters home and it is 1 step a way from a trailer house. Just minus the wheels. It was built with cheap material and is always in need of repair. He can't even sell the house. He had it on the market for over 1 year and nothing. People just want to knock it down and buy the land.
1 vote Thank Flag Link Fri Sep 11, 2009
Depends on the market, location and the condition of the MF home. I have had 2 sellers recently where they had tons of equity. 1 the size of their lot, 2 acres and 5 acres. The 2 acre had a huge 5 car shop, that is really what sold the property. The house was beautiful, hardwood floors, custom kitchen, built in's, gazebo so the extra work and the condition brought showings. Financing is tough on them though.....
0 votes Thank Flag Link Thu Mar 25, 2010
The problem with any manufactured home, not brand name specific, in my personal opinion, is two-fold:
1. The ones I have been in have been in rural communities on acreage. People sacrificed the quality of their home for the purchase of these long, rectangular 10 acre lots. Many of the lots these are on are just chock full of scrub brush, junk trees, and critters (biggest spiders I've ever seen!). Some of these lots have flooding problems at times, and not all of the areas leading to these lots are on paved roads.
2. The ones I have toured have not been well maintained by their owners. People don't appear to treat these like homes that they value. That lack of care shows (and smells) over time. It makes them super hard to sell.

My vote is that they DEPRECIATE in our area. In many cases, it's cheaper to buy new.

However, there is a Jim Walters home sitting on my Grandfather's land near the Natchez Trace in Tennessee. My cousin lives in that home with his family, amid a forest of mature trees and streams. Because of the family history and the location of that home, it is priceless as far as I'm concerned. So, beauty is in the eye of the beholder and value is in what a buyer will pay for something!

Have a blessed day!
Ronda
0 votes Thank Flag Link Thu Mar 25, 2010
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