Sunday, August 14, 2011

“What is my mobile home worth?”

The first question people ask me when they are thinking of putting their mobile home (or manufactured home) up for sale is, “What is my home worth?”  Today, even more people are asking, “What is my home worth --- in this market?”

The answer to that question is always a matter of economics, and the bottom line is, “Your home is worth whatever someone will pay for it” (and that answer is not meant to sound snotty). 

Mobile home sales specialists look at comparable market sales (“comps”) just like realtors do.  We look at our own sales records and other dealers' sales reports, then analyze sales trends by reviewing the year of home manufacture, the size of the home in square footage, and also the home’s location.  For instance, at Charter Oak, the rent is significantly lower than it is at Cienega Valley.  However, the lot sizes at Charter Oak are much smaller.  Buyers must weigh all their options before making their decision.

Often times, the motivation of the Seller will determine the asking price – motivated Sellers want to price their home to the market so they can be assured of a quicker sale.  In this current economic climate, where there are fewer Buyers than usual, the asking price can be lower than expected.  A home that is priced to the market is more likely to entice the Buyers who are out there to come forward with an offer.

(The manufactured home pictured above is not for sale)

For more information about mobile homes for sale, call me at 626-710-0791

©  Elena E. Smith, 2011

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