Re: value of 1972 MH

sumisangel · Post by **sumisangel** » Sat Apr 28, 2012 8:05 am

I'm also trying to find out the value of a 1972 50x14 mobile home. It is located in a park and needs a lot of repairs. What would be a fair asking price? It does not have any extras such as a garden tub, fireplace. Just a good old regular trailer. My mom bought it in 1985 for about $8,000.

rmurray · Post by **rmurray** » Sat Apr 28, 2012 9:14 am

Value is all local and now, much depends on the park it is in.. Check current selling prices there and you decide how others compare to yours..In a few parks in this country mostly with ocean front locations the price could be VERY high. If the park is rural and still called Trailer Park, Its value probably is VERY low. Most park owners who allow this old of home in the park own rentals and might be the best person to try to sell to..As a matter of fact if the lease allows for rental and park rent is reasonable, you might want to consider renting it..

David Oxhandler · Post by **David Oxhandler** » Sat Apr 28, 2012 9:26 am

The value of an older manufactured home depends on many factors. Location, condition, upgrades, additions, and local market conditions.

A BOOK VALUE is an evaluation of any manufactured home based on the information you submit. What you will get back is the typical resale value of that year make and size home across the country for the past few months, adjusted for your local market.

Most people are required to hire a licensed appraiser to put a value on a home prior to being approved for a home loan. Appraisers use comps (comparable market sales) of local properties sold within the last six months to value your home. With today’s rapidly recovering market, information over six-month-old is considered ancient history by lenders.

You should also do your homework. Call parks and agents with similar homes for sale and get the sales prices to satisfy yourself that the price is reasonable for your local market.

When you sell a home, remember the opinion that counts above all others is your prospective buyer's. Obtain a BOOK VALUE REPORT so you have an independently calculated valuation to offer to your prospects when they come to view the home.

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