Posted by Dirk Roach on October 27, 1998 at 16:50:08:
It seems to me, the only good thing about the nada book is getting your insurance. Because it always apraises higher than is the reality. I recently looked at a Mh which the owner was asking 3.5k. The home could be sold realisticlly for around 10.5/11k. That home in the ‘blue book’ was valued at 17.5k. There is no way that home would go for that in that part of town, that park etc. The book simply doesn’t take in enough factors to represent the market. I also agree with Lonnie Scruggs in that using the book you will overpay when you buy and be misled in an accurate selling price when you sell.
What are simuliar MH’s going for in surrounding parks? What have other parks sold for? And when?