Modular home value

[Tim E. Spade]

Hi! I am getting ready to help my mother in law sell her 2001 Century ES Statesman model 7028 doublewide modular home. It is in excellent condition and is on a rented lot. The paperwork says that it is 1,764 sq feet and is 72x28. It has 3 Bedrooms, laundry room, 2 full baths, garden tub, 2 skylight, entry foyer, great room, huge open floor plan. It is set up in a very nice park with other newer modulars on a newly paved blacktop road in Southern Indiana near Evansville. We are trying to find a selling price for it that is fair to her and the buyer. She paid $58,000 for it brand new in 2001. We live in an area with new plants and industry that are deeply rooted here and property values are at an all time high. Additionally, homes, property and even modulars are snapped up quickly. We would like to know a fair selling price as well as what the loan value on it would be. If any questions, you could talk to my wife by email.
Thank you very much, Tim and Donna Spade

[rmurray]

First...if you are going to sell this home you should be technically correct in your description..

This is a manufactured home...NOT..a modular home..they are very different creatures...but NO modular home is in a rental park..

Value is all local market driven...Get advice from those in your area...Check with the park management...local dealers and best yet would be a formal appraisal from one that specializes in manufactured home appraisals...Much of the value..or lack there of..depends on the desirability of the park itself..

[David Oxhandler]

If you want an inexpencive "ball park" idea of your homes value order a book value report, on line by Clicking Here .


All reports are filed by a Board Certified Manufactured Housing Valuator, based on the information that you submit about your home. This will tell you the average resale price by retailers across the country for a home like yours, for only $19.95


This book value evaluation will be calculated in good faith will represent the evaluators best effort at assigning a value to a subject that the evaluator has not had to opportunity to inspect. The reports are based on information submitted over the internet and the evaluator has no way to assure that the information submitted is true. When the information you enter is accurate the value returned should be an excellent indicator of what a certified valuation report would read.


This is not a full appraisal and the results should not be relied on for any major decisions. The report will address possibilities that include the manufactured home ONLY. No appraisal, evaluation or consideration of land value, location, or some local market conditions are included and those factors could greatly effect the real market value of the subject home.


I would urge you to contact an Appraiser who is certified in Manufactured Housing Valuation for a written professional opinion prior to making any decisions that relate to buying selling or financing a previously owned manufactured home.

You can find Certified MH Appraisers at http://pcb.lincoln-grad.org/

[Bobby D]

You are correct that the description given is for a ManufactureHome not a Modular..

You are wrong about no Modulars on rented sites.

Just a point!!!!!!

[Christina]

I am trying to find out the value of thest two trailers.

1974 Glenbrook FK 12x60 Serial No. 5/1528

1974 Trailer ILT Serial No. 5/520