Manfactured home now stick-bult? with addition-I hate these!

[Mountain Man]

"the lender has the responsibility of verifying that the home was constructed to HUD building code"

Thanks for the correction, I guess I'm too use to being the lenders' detective. But Mr. appraiser, the UW must have that information on the data plate that you can't see. :wink: By the way, will you fill out this old, antiquated form about the foundations being below the frost line. :roll:

 

[Richard Carlsen]

Why is it when someone posts something on this BB, it seems like very soon thereafter I see it or experience it?

Last week it was a 1987 HUD mobile that had half of a HUD Code sectional house attached to it. Oddest looking thing on the outside but on the inside the floor plan worked. The father-in-law worked for one of the big manufactured home distributors in the area and they had two halves being transported north but one half got destroyed in an accident. So he bought the remaining half and attached it to his daughters mobile home.

The hard part was supposed to be the appraisal, right? Where do you get comps that will work for something like this? Well, a quick search and what turns up but two pre-HUD code mobiles that have been joined together with a snow roof over the two. Looked good to me.

You are either good or lucky. In this case I think I was good and lucky.

 

[xmrdfghap]

By the way have you read my article on the naifa.com web site? Look for the Appraisal E Gram, past issues, October, 2002 issue.

Jo Ann,
Is that past issues or future issues? :lol:

 

[Terrel L. Shields]

Once a manufactured home--always a manufactured home

You only have to study the market a little to discover that any manf. home, no matter how cosmetically altered, will not bring its value.

I know a situation where a fellow built an A Frame over a MH, and except for the obvious sticking out each side of the A (like -A-) the interior is quite nice. Tried to sell for 2 years, finally sold at what he thought was a discount to his own son. Jr. has a job transfer and now is trying to unload the white elephant for what he paid paw....Paw shafted Jr. because it is not going to bring it..not now, not ever.
ter

 

[Jo Ann Meyer Stratton]

October 2001 issue
http://www.naifa.com

Appraisal E Gram current issue

scroll down to past issue

click on October 2001 issue

scroll to bottom of page

 

[Jo Ann Meyer Stratton]

Richard:

What is a 1987 HUD code manufactured home versus a HUD code sectional home? If both built to HUD building code they are both manufactured homes for financing. Or did you mean half was a HUD code manufactured home and half was a factory built modular built to UBC or CABO or some other site building code?

Years ago a train ran over the half being towed that had the bedrooms and part of the living room. The other half with all the kitchen and baths with plumbing and heating system had already crossed the tracks and was safely down the road. So someone bought the good half, installed it, then built site built bedrooms and the rest of the living room. Made a decent home for about 20 years until they decided to tear the whole thing apart and build a completely new house from scratch.

 

[Debra]

Hello!

That is kindof what the one that I'm going to today sounds like...half double-wide redone and half stick built with 2 rooms in the basement and 2 or 3 rooms in the above ground stick built addition. I'm taking the advise here and comparing the original to double wide manufactured homes and giving the stick built addition a value adjustment on a different line. The adjustments will be very high. I know all the manufactured homes built in this county that I'm going to today that have sold over the past 2 years and none of them have an addition like this. But..from what I understand from these answers this is how I need to do it...somebody correct me if this isn't correct...I'm leaving soon to go there. Thanks for all the replies! :? :roll:

 

[Jo Ann Meyer Stratton]

Pretend you are a potential buyer of the property--what other properties would you consider purchasing as a substitute for the subject and then what would be the features that would cause you to select the subject. Research and review all the possible combinations that might be considered, single wide manufactured or mobile home with additions, double wide manufactured or mobile home with and without additions, site built homes by the home owner, prefab or kit homes built by the home owner, etc. Then after throughly observing the subject every square inch you possibly can, start comparing to what has sold or is currently available for sale and eventually everything will start to fall into place. Good Luck--this is the type of assignment that I enjoy and really makes appraisal challenging!

 

[Conrad]

I'm doing one also. Its a "79 singlewide with a 1260 sf add on plus a garage and small guest house. Based on what I have read here today, it is MH with a big addon. Thanks for the help
Conrad