can a double wide manufactred home value be used as a comp against a triple wide for an appraisal???

Todd
Other/Just Looking
Lakebay, WA

If I own a triple wide manufactured home that is 1890 sq ft can a doublewide with comparable sq ft be used in an appraisal or does it need to be against all triple wides. The land size is approx the same?

Answers (3)
Marlene Scheffer
Agent
Bremerton, WA

I have used double-wide manufactured homes to compare to triple-wides when triple-wides were not available to use as comps. As long as they are similar square footage, age and condition, it should be fine. Make sure that whoever is doing the appraisal or price point for you is experienced with manufactured homes, though. That can certainly make a difference!

Sun Mar 9 2008, 14:02
Michael Mesa
Agent
Tacoma, WA

Todd,

Based upon your question I am assuming that your home is actually on land and has gone through the title elimination process if it was a mobile. If it was prefabricated and then delivered (mobile-land package), you have a little better saleability.

Once a home becomes real property, it falls subject to the same rules as if it were stick built on site. You of course, must try to compare apples to apples, but in the absence then you may want to try to come as close as possible by looking at other manufactured homes with similar features in your area..

The challenge with that is then you must start making assumptions and adjustments and try to second guess the values that an appraiser will give for the differences. With the conservative measures put in place by the lender, appraisals are under more scrutiny than ever before, so how ti will come out is anyone's guess, unless you are the appraiser.

A comparative market analysis or overview of your area is simple to do and comes with no obligation; however, a true appraisal will get you the closest if you are looking for value. A CMA or TMO will give you a range based upon recent sales, STI/Pending, and Active statuses.

Let me know what your objective is and I will be happy to point you in the right direction!

Michael

Sat Jan 5 2008, 02:04
FIRST ANSWER

I've sold a few mobile homes, and if there are no triple wides to compare with you go with a home with the same square footage, age, upgrades etc. Usually comparison is made with other homes within your park and not with homes in other parks The same make, model, year etc......almost like a vehicle. Some parks charge different space rent amounts and I find that the homes selling for more money are located in parks with the lowest space rent and vice versa. The same applies to the homes location within the park. The better the location the higher it may sell for.

Fri Jan 4 2008, 19:35

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