Modular Home on sale since Oct.07.Not sold yet.Lowered price. Silver City Park.

Asked by Nancy Lee, 93401 Thu May 1, 2008

Nice 2 bedrm. 1 den. 2 bath. Yard, and side yard. One park slot, & one in front of house.
Kitchen nice, live rm nice. Vaulted ceilings. 5 years old. Earthquake safe. Solar screens on front windows to keep house cool in warm weather. Have had a lot of lookers but no offers. What does someone offer for advice? Thank you. Nancy

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Mary Lou Joh…, Agent, Arroyo Grande, CA
Mon Nov 15, 2010
When marketing a property, consider these three factors; price, condition and location. Silver City is in a good location in San Luis Obispo. For rapid sale, adjust price to more closely match the most current sales in this park (under $59,000). Stage the interior, use professional photos.
Feature the property in open houses, broker tours and multiple internet postings. Allow for same day showings if possible. Have lender sheets on hand with contacts for local lenders offering financing for homes in mobile home parks with payment schedules.
Be patient, there are 9 other homes for sale in Silver City with average time on market at 211 days.
Good luck!
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Tni LeBlanc, Agent, Santa Maria, CA
Sun Jul 6, 2008
Hi Nancy, Linda Bull provided you with excellent clues to success in the market. It sounds like your listing is overpriced. You cannot get anywhere by overpricing your property in this market and time can cost you money. Good luck eith your property sale. Tni
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Linda Ginex, Agent, Newport Beach, CA
Fri May 9, 2008
You provided some good information so I was able to look up the listing on the MLS. The questions I had immediatly was 1) Is it Staged? 2) Are there wide angle photos in the MLS? 3) Do you have a weekly marketing log of what your Realtor is doing to get it sold? 4) How many price reductions has there been? 5) What is the space rent in the park? - A HUGE factor. 5) What was the last comparable mobile home sold at? ($125,700 in 3/25/08, $30 - $50k less than yours is currently listed at)

Try to take a serious look at the above questions and see about a possible price reduction.

Hope this advise helps.
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Cindy Vedder, Agent, Irvine, CA
Thu May 1, 2008
Nancy, what year is it? That could be a huge factor. Financing is really difficult on older models. You could consider a lease with a purchase option. You could consider carrying back part of the loan with a large down payment. You could try Craig'slist, and other real estate related sites for advertising. Call the lookers, get feedback. Who showed it? Get their feedback. You've seen the shows..........Is it in the college area? Post flyers.
Good Luck. Cindy Vedder
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