Resale Value of Modular Home

[djean]

Hello! I purchased my modular home, which is located in a 55+ community a little over a year ago. I have decided to sell. Looking over the recent appraisal I had done, and the appraisal completed in 1998, there is a decreased value of $16,400!!It was built in 1997. I have put in $10,000 of landscaping to the property. Has my Stratford Modular home really decreased in value rather that increased like a "normal" built home would have? It is located in a what is considered to be a high demand resort area.

[rmurray]

Appraisals are much more of an art than a science....Different appraisors commonly differ by thousands of dollars...

The value of the home is directly related to the community it is in..If there are lots of homes for sale in the community...lots of empty spaces..the value will probably go down since the market is not there to sustain high prices..

If the community is full..with few resales available..if the location is very desirealbe..the value will rise with this desire to locate there...Retirement community values are totally dependent on the communities desirabliity and the other parks in the immediate neighborhood..

Your home could easily be worth this much less...or your home could be worth thouisands more..Look around the community..see what other homes are selling for...If your appraisal was a free one from a listing agent..beware..the lower you list your home for the better for them....they are not necessarily after the highest price..they are after the quickest commission..Good Luck