Jaimy, Both Buyer and Seller in 91361

I am selling a new Manufactured home, which was built in 2006. It's a new 3 bed/2 bath home in a great location less than half a mile from the

Asked by Jaimy, 91361 Sat Sep 19, 2009

lake. The asking price is $449K and it's been onthe market for about 30 days. What should be the average days on the market for this type of house in this price range in Westlake Village? I purchased another home with a hubbard clause, so I'm curious about how long it will take to sell the current home. Thanks to those of you that answered my previous, less detailed, question.

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Answers

4
Over and above the issue/non-issues related to your specific property is the fact that very few lenders provide financing for manufactured homes. Your property does seem to fit the basic criteria (owner occupied, permanent foundation, owned land, built after June 15, 1976); but, I am contacted daily by consumers who are not able to find a lender who will finance a manufactured home.

As a result, many consumers and agents tend to avoid considering manufactured housing as an option and focus solely on stick built properties. This, in turn, puts sellers in the situation of hoping a cash offer comes their way.

There are alternatives...for both sellers and buyers. One thing you and your agent can do is get clarification to other agents and/or potential consumers about the available financing options for your property. Admittedly, there are few lenders who work with manufactured housing; however, we are here and willing to assist.

All my best,

Deborah
NMLS #279125
WJ Bradley

"We Listen. We Care. We Deliver."
0 votes Thank Flag Link Thu Nov 7, 2013
Jaimy,

Thanks for providing more information on your property. So much so, that we as agents, have actually figured out which listing is yours. Your home presents a unique scenario. I say that because there aren't that many homes like yours in the area. If we reach out a little further, you might be able to find manufactured homes, but none as new as yours.

And to that extent, I have created a graph that shows you the trend of DOM for manufactured homes in all of Conejo Valley. Simply doing Westlake (because there are so few) will not provide an accurate analysis as there will be holes in the data. You can view the graph here:
http://www.themmteam.com/2000/09/conejo-valley-avg-dom-for-m…

The current DOM for the month of August is about 100 days. You can loosely, base the length of your sale on that time. As the other agents have mentioned, if you need to sell quicker, you might want to consider lowering the price.

Hope this helps and good luck!
Web Reference: http://www.themmteam.com
0 votes Thank Flag Link Sun Sep 20, 2009
Hello Jaimy
I have to agree with Hector, your price is too high. You are priced at $268.86 per sq ft and everything else that is listed or has sold since March is $200.00 or less. I understand the differences between the older manufactured homes and yours but unfortunately you are still priced too high to attract a buyer. I would suggested bringing your price to around $400,000 if possible.
By the way, I love the Oak Forest Development and actually own a home on Sherwood Drive that is rented out at the moment. I will certainly mention your listing to my colleagues and see if we can't find you a buyer!
Good luck.
0 votes Thank Flag Link Sun Sep 20, 2009
If your home is not selling it's because of the price. The hubbard clause may have something to with it being on the market so long. Inventory is very low and homes on the market should move rather quickly but pricing is a key point to remember. Lots of investors are looking to buy. Have you had many showing of your property?
0 votes Thank Flag Link Sun Sep 20, 2009
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