My husband and I are looking at purchasing a starter home, and really like what we've seen in Sherwood, OR. We love the neighborhood, but we are

Asked by Meghan Mcgill, Tigard, OR Mon Dec 6, 2010

looking at a manufactured home and concerned about the resale value of a property like that verses non-manufactured. Thoughts would be MUCH appreciated.

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7
Gardner Team,…, Agent, Sherwood, OR
Mon Dec 6, 2010
Hi Meghan,

There are a lot of starter home options including townhomes, condos and stick built homes throughout Sherwood, Oregon. We live in Sherwood and are Realtors too, and know the area very well.

We'd be happy to help you. If you'd like to contact us we can talk more about your goals to help you make the most informed decisions when purchasing. Resale wise, residential stick built homes can often bring a larger return on your investment.

Feel free to look at all Sherwood, Oregon homes for sale by all companies on our website - very Sherwood based at http://www.SherwoodHomesandLand.com - we can also set up a hot list of homes in your criteria and take you to preview them in person as well.

Committed to your success,

Jason and Amber Gardner - Your Sherwood Realtors
Direct Line 971.832.1234

http://www.SherwoodJohnLScott.com | http://www.TheGardnerTeam.net
1 vote
Tim Moore, Agent, Kitty Hawk, NC
Mon Dec 6, 2010
When you say manufactured are you talking about a modular home that is built in a building and then assembled from 3-5 sections on site or are you talking about something that has a metal frame under it and was put on site and then the wheels removed - like a trailer or double wide?

The modular house is built pretty much just like one stick built on site, but under a roof. These homes are usually very well built, well inspected and are usually very good quality. There is some confusion about them and some people think they are of lesser quality that stick built, but they do have some true advantages and some limitations (mainly just in the designs available since they are assembled from rectangular boxes on site).

The double wides and single wide manufactured homes don't hold their values all that well and the quality is not often there. They are less expensive but all some can afford. They can be harder to sell and this is another reason they don't hold their values as well as modular or stick built.
1 vote
James White, Agent, Tualatin, OR
Mon Dec 6, 2010
Bottom-line Meghan, Manufactured Homes will not appreciate in value. In a prior position I worked for a manufactured lender. If you place or buy a home in a manufactured park most times it doesn't come out in your favor. If you buy one attached to land the odds are better in your favor for appreciation (many factors to consider). Better yet, a stick built home will retain more value. No one can guarantee future value, but if you buy right today you should be happy with the future appreciation. All this being said, how long do you plan to live in this new home? It matters, if your plans call for a move in 5-7 years than I would not buy a manufactured home at all! If you're not going to move for 15-20 years than it may be OK (factors). If you would like to receive a report on what homes in the area you're looking are selling for visit my site and you'll be given information right away. Good Luck, and if I can help give me a call 503-278-5334. http://libertyfirstrealty.com/areahomesales
0 votes
Rian Muleback, , Portland, OR
Mon Dec 6, 2010
Meghan, several good answers here but I have yet to see this brought up so I will pass it along to you. If you can buy a manufactured home and the land is included with the purchase then you may have a decent deal there. The land will hold its value and that will help offset any loss you may have on your manufactured house. However, you have to remember that land value, just like a home, does not always increase. This all may seem a bit confusing to you so I would advise you to call a handfull of Realtors and let them know you are looking for a good agent to interview for the job of helping you buy a home. There are some special licenses that you have to have to sell manufactured homes and it all depends on the situation in which they are being sold. Make sure you ask the Realtor if they are licensed to sell manufactured homes. I would also find out how long they have been in the business, how many clients they have worked with, what their fiduciary duty is to you, how the real estate progress works and any other question you can think of. I hope this helps!
0 votes
Corri Klebaum, Mortgage Broker Or Lender, Clackamas, OR
Mon Dec 6, 2010
The problem with manufactured/mobile alike is that the financing is getting harder to come by. Sure you might have a few options now but you may be stuck with it if you want to sell down the road if lenders continue to dry up. Sherwood for the most part qualifies for USDA Rural financing at 100% which will only allow the purchase of a NEW manufactured home to be place. Either way the collateral, although an attractive and affordable option, carries a great risk where both you and any potential lender is concerned.

Hope this info helps, best of luck.
0 votes
Hank Paterson, Agent, Beaverton, OR
Mon Dec 6, 2010
Hello Meghan,
The resale value of a mfg home is much less than a traditional stick built home. Even the new ones that are built very well, and in some cases better than a stick built, still suffer from the fact that they must list as a mfg home in the MLS system and there are many people who won't even search for them so never even know they are for sale.

I would sit down and look at the comparisons of what a stick built house sold for 4 years ago versus a mfg home and then the value of them today..
0 votes
Kris Simpson, Agent, Tualatin, OR
Mon Dec 6, 2010
Meghan
Manufactured homes or "mobile homes", rather than "stick built" (constructed home), do no typically have as much resale value, and there usually are not as many financing opportunities for purchasers as there are for constructed homes. The financing can also be more expensive.

There are many great purchasing opportunities with constructed homes in Sherwood at this time that would most likely be a better option for you financing and resale wise. Please let me know if I can be of further assistance.

Kris Simpson
A Group Real Estate
0 votes
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