Having trouble comping a Manufactured Home, any tips?

4 Replies

Hi, I have a lead for a 3/2 manufactured home, however I'm having a heck of a time pulling comps.  No similar properties sold in the last 2 years.  Any tips? Thanks!

zillow sometimes show similar properties sales prices.  

Depends if it's on a lot, land or in a park. Lot and land possibly MLS. But not always useful.

For parks - You can check MHVillage for prices in your area. Investor group, Craigslist, park managers/owners, MLS. It is sometimes difficult. Something that you get a handle on once you've done a few in an area. I don't go by comps. I have done enough in my area to know price ranges.

I have sold them for higher than people told me I could get. Eye of the beholder!

@Bill Neves

 I guess it's a lot, there's neighboring houses and the home is static.  Based on that, what would be the best way to valuate it?  Also, should I make sure I use a Realtor experienced in selling manufactured homes? Thanks!

Since it's a manufactured/modular on a lot, I've used Zillow and MLS solds to get comps. Since it's next to houses that will give you 'some' idea. Not perfect but should be close.

Manufactured home friendly realtors are a plus. I just got 2 new deals last week. One was listed with a realtor, one was a FSBO. When we're done with repairs, I will sell the realtor deal thru the same realtor, that was our agreement to get the deal. Don't have to, but I want the realtor to find me another deal. The other will be a FSBO thru me.

Nothing against realtors, but I normally buy and sell without realtors. I like to look the seller and buyer in the eye and negotiate. Normally can't do that with realtors.

Have fun!