They are asking $129,000 what should I offer

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zamzmith
Posts: 1
Joined: Tue Feb 24, 2009 5:35 pm

They are asking $129,000 what should I offer

Post by zamzmith » Tue Feb 24, 2009 5:51 pm

Help! I know nothing about buying a mobile home and especially in these times.

I hope this works it's a URL to the listing:
http://tinyurl.com/dlfr4c

I've bought several homes in my lifetime and we just knocked of 10-20,000 dollars but now I'm lost.

Thanks for any suggestions.

David Oxhandler
Posts: 1459
Joined: Tue Oct 02, 2007 8:37 am

Re: They are asking $129,000 what should I offer

Post by David Oxhandler » Tue Feb 24, 2009 6:35 pm

What ever pricing strategies you have use in the past, buying real-estate should be applied to this home. Location and condition are the 2 prime factors that determine the value of any structure. From the limited info the home appears to be in a land lease community. Other factors that must be considered; what have other homes like it sold for recently, what amenities are included in the land lease and the amount of monthly rent.

The best way to start - visit the neighbors and find out which other homes in the community have sold in the recent past and investigate those sales for comparisons. We are still in a buyers market so there is no reason the seller would expect you to jump on the asking price. Roll up your sleeves and go to work
David Oxhandler
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rmurray
Posts: 1086
Joined: Thu May 25, 2006 6:49 pm

Re: They are asking $129,000 what should I offer

Post by rmurray » Tue Feb 24, 2009 7:11 pm

It is almost impossible for us to understand CA pricing...$129,000 for a 37 year old manufactured home is unimaginable. Geez no wonder CA is in trouble..The real estate guy looks a lot like Fred Thompson. Good Luck

Celtlund
Posts: 118
Joined: Sun Jun 08, 2008 1:07 pm

Re: They are asking $129,000 what should I offer

Post by Celtlund » Sat Feb 28, 2009 12:34 pm

I can't either. We bought a new 2200 sq. ft. four bedroom, two bath with many upgrades, 1 acre of land, and the septic etc. in northwest Louisiana for about $139,000.00. I'd never buy a 31 year old MH and I would never again buy one in a a park.

As a rule of thumb, offer 5% less than the asking price. I just sold my stick built house. We were asking $124,500 and accepted $122,000 plus we are paying up to $6,000 in closing and improvements.

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