Two methods to value used mobile homes

<<>> There are two main methods to determine the value of used mobile homes.

First you can use books specifically designed to value mobile homes. One book is called N.A.D.A Manufactured housing Appraisal Guide. This book is used by professionals in the industry and by the banking industry. This book values the manufactured home but it does not value the land.

If you pay lot rent, the land will not be valued with this book and the land value will have to be valued differently. If you own the land and you’ve converted the manufactured home to real property, the value will best be determined by looking at the land and the home as one unit.

There are other cost books that you can use to determine the cost of a manufactured home. These books will help demine the appreciation of a manufactured home and manufactured home value. One book that real estate appraisers usually use is Marshall & Swift. This book is too expensive for the average consumer to buy. There are other books that can be used by the public that will do a reasonable job for less than $100. I’ve used National Building Cost Manual before. This book does a good job in estimating the value of manufactured homes, but of course, I always use comparable sales as the best support for manufactured home values.

You can find comparable homes from MLS database. If your home is a manufactured home located on land, a realtor or an appraiser can compare the land value and the home value with other homes in the area. The appraiser will take all improvements, outbuildings, and garages into consideration.

If your manufactured home has been converted to real property by the county or the city, both the land and the manufactured home and all other improvements will be valued. If your home is located in a manufactured home park and you pay lot rent, realtors or home appraisers can access the MLS database for manufacture homes located on leased land. This will give you an idea of what other homes are selling for and what buyers are paying for homes in your development.

The best method of determine used manufactured home value is to use recent comparable sales that have sold in your area. The books will give you an idea of the value, but as the saying goes, you can’t learn everything from a book. Landscaping tips