Pricing Used Homes

[Steve Faliski]

Although we would prefer not to have them, we have a handful of rental units in certain of our communities (garnered through foreclosures/repos, etc.).

When we find qualified renters/solid residents, we would prefer they ultimately purchase the unit which they are renting.

Many of the homes are old, which can make establishing a value difficult.

What has been your best source for establishing a value on used homes in your communities?

Thanks again for the forum to ask these questions.

Steve Faliski

[Chrissy]

The NADA book will help give you an idea of the value of the home, if used properly. A finanace compaany appraisal will give you an idea of the amount of money that can be financed on the home. Ultimately, the value is established from both of these things, plus looking at other homes in the community that have sold or that are currently for sale, and by honestly looking at the value your community adds to the home. There is also the consideration of the quality of resident, their credit history, and their ability to be finanaced. Sometimes an area broker that is active in resales can also help you establish asking price. Good luck with sales!

[dlord2000]

Dear Si/Madam

Recently because of serious illness, I had to surrender my home to the bank.
Presently I'm just scoping the net to see what is the possibility of me purchasing
a mobile home.

If a loan is impossible, at least provide me with second-hand home prices. Pro-ba
bly in time I may be able to afford one cash.

An other thing, I am not familiar with how homes are transported to the state or
location of your choise., also what extra cost are due e.g. taxes etc.

If you can help with these questions, pl reply asap.

Your respectfully
d. lord