having trouble selling....should I paint it? - Posted by david kopp

Real Estate Investing Mobile Homes & Mobile Home Parks
#1

Posted by Ruben (KCKS) on July 01, 2007 at 19:51:16:

What reason are your buyers giving you for not buying? I have not worked in a 55+ park so I may be off base but I would think a home with any issues would be harder to move. An older person is less likely to want to have to fix anything up so you may have to make it a little more of a, “doll house”. Maybe someone who has worked this type of park before can give you better advice.

I have discovered that painting a home will really make it pop and gives it good curb appeal but that just gets them in the door. This inside still needs to show well.

If you have the numbers to any of the people you showed the home to call them and ask them what they did not like about the home and what they did. Address what they did not like and make sure to point out the things they told you they did like when you show it next.

Good luck.

Ruben D. Flores

816 918-9041

#2

having trouble selling…should I paint it? - Posted by david kopp

Posted by david kopp on July 01, 2007 at 13:10:27:

I have a 2 bedroom mobile home in a 55+ park in a out of the way township. My father bought it for me to sell when I was out of the country and now I am kinda stuck with it. It is really a pretty good looking place and I am offering good terms on it, but I still can’t manage to sell it. I am going to rebuild the deck next week and hopefully that will help move it along. I am also thinking of painting it. The paint isn’t bad, but it has one of those brown stripes that wraps around the top and bottom (70’s style). It is worth painting white? Would this make a difference. I have not got a lot of interest in the home and I really want to get rid of it. Any advice?

#3

Re: having trouble selling…should I paint it? - Posted by Mike (Seattle Wa)

Posted by Mike (Seattle Wa) on July 05, 2007 at 16:43:22:

And this is why I don’t buy in 55+ parks now. My first 2 “deals” were in one. Lost money on both just unloading them.

Here’s your problems:

  1. Only 1 in 10 or so buyers will qualify to live in a 55+ community due to age.
  2. My experience is that 55+ parks tend to have even higher restrictions on credit/quality than family parks.
  3. People who would consider a home in 55+ parks tend to live on fixed income and therefore tend to negotiate really hard - but they usually pay cash. :slight_smile:

You either get to wait a long time to sell or you have to cut your sale price way down. In my market, a good single wide sells for 15-20K w/financing. In the 55+ park, I had to sell for 5K and 3K after waiting a year. Even getting the 2 homes next to free, I lost money on lot-rent/repair costs.