Will a 25 year old manufactured home's value have a chance of increasing if the market goes up or will it just stay the same or decrease?

Asked by Kendra42, Olalla, WA Thu Jan 27, 2011

We are currently renting out our manufactured home in Olalla, WA while we are stationed overseas and don't know if we can sell it in a year to break even or if we keep it a little longer if we could make a little bit of money. But it's only getting older so....And the rent doesn't even cover half the mortgage.

Help the community by answering this question:

+ web reference
Web reference:

Answers

8
Marie Nadin, Home Owner, Riverview, FL
Fri Dec 20, 2013
I was a manufactured home dealer for 10 years. I can tell you I no uncertain terms they ALL lose value.Don't buy one unless you cannot qualify for a conventional home or if you pay cash and plan to live in it for a long time. I would then rent it instead of selling.If you finance a new one , you will NOT build equity and if you try to sell, you will be upside down on your mortgageDon't care what a realtor or sales person tells you. Realtors do not know about mobile homes, and sales persons will tell you anything to get the sale
2 votes
Have a question. And in sure not much difference but what is the estimated value of 18 yr old double wide.
Flag Sun Jun 11, 2017
Robert Carper, Agent, Federal Way, WA
Wed Feb 23, 2011
Hello
I am Robert Carper. I am a Broker (Realtor) in Olalla. More likely than not, the only way that your property will increase in value is as the value of the land increases. The manufactured home is getting to an age that value increase will be tough. I can help with a Property investment profile from my website. It will give you the values and activity in your area. You can get in touch with me at bear@pnwrealty.com. I will be happy to get you the info you need.
Robert Carper
2532220831
Web Reference:  http://bear.pnwrealty.com
1 vote
Cricketmary39, Home Buyer, Beverly Hills, FL
Sun Oct 29, 2017
my manufacturer home was built in 1988 in great condition, has lamanit floors 2 year a.c unit. 2 yr.olf new metal roof. it's a palm HARBOR HOME well taken of on half acer beautiful cleared green lawn in Homosassa
0 votes
Manufactured homes can appreciate but not much at all. Typically, it's not worth it to spend a lot of money renovating them because you won't get that money back when you try to sell it.
Flag Sun Oct 29, 2017
Darcie Ellio…, Agent, Puyallup, WA
Mon Dec 16, 2013
So Kendra, what did you end up doing on your manufactured home in Olalla. Did you sell it OR did you come home and move back in? Have the values changed much for you in teh last 2 years?


Darcie Elliott
Keller Williams Realty
253-686-9173
0 votes
Unfortunately, we still own it. We're back in the states but not WA. We're going to sell when the rental contract is up this coming April. The values, according to Zillow have gone down but we've paid enough on the mortgage that we should be able to break even. Hopefully.
Flag Mon Dec 16, 2013
., , 98110
Thu Feb 24, 2011
Manufactured homes tend to depreciate in value rather than appreciate. However, you may want to hold onto the place for a year and see if the value of the property increases -- provided you can afford to carry the mortgage balance and you have a good, long-term tenant who can watch over the place while you're out of the country.
0 votes
Kendra42, Home Seller, Olalla, WA
Thu Jan 27, 2011
Yes, we own the land it's 2.5 acres and it's not in a mobile park there are only a few other manufactured homes on our street-the rest are stick-built.
0 votes
Gene Hacker, , Lake Isabella, CA
Thu Jan 27, 2011
I assume you are talking about a mobile home on a private lot...when you own the lot as well.

In the last run up old mobile homes in my area increased in value more than I thought possible, The increases were beyond the increase in land value.

This was likely because there was a shortage of units.

I don't see a similar situation occurring anytime soon.
0 votes
Dan Tabit, Agent, Issaquah, WA
Thu Jan 27, 2011
Kendra,
It's really hard to say with any certainty. The general rule on mobile homes is that they do depreciate like cars. On the other hand where it's already 25 years old, assuming its functional in every way and it stays that way, you probably don't have much further to fall. The biggest risk will be breakdown of any appliances, the roof or any seals.
Where your value may increase would be on the land, assuming it’s not in a park. Land values will eventually come back around with some appreciation, I just don't know if we'll see much in Olalla in a year.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more