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Manufactured Home Sample Appraisals?

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Valueseeker

Junior Member
Joined
May 19, 2016
Professional Status
Certified Residential Appraiser
State
Massachusetts
Hey guys/gals,

I don't see them often but occassionaly they come by. It's more intrigue than anything as I've never done one before. Nor has anyone in my office either. Ive only read about them in classes. I was wondering if anyone could suggest a good place on where to find a few samples or a place to learn more about how to do them. Are they easier/same work/ more difficult to do than a typical single fam?

Thanks everyone
 

Valueseeker

Junior Member
Joined
May 19, 2016
Professional Status
Certified Residential Appraiser
State
Massachusetts
thanks JTip. more samples for the reference library. Ill keep searching on the webs for the 1004c.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
Send me a chat. Maybe I could send you a few.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
I found that the more you do of them, the easier they get. I have done a fair number but since I worked mainly outside secondary market, generally we didn't need to use the 1004C, and since we have few MHs on leased land, I have had mostly rural MHs. The leased properties are more involved in describing the land situation more so than describing the building itself.
 

norapp

Member
Joined
Jul 11, 2016
Professional Status
Certified Residential Appraiser
State
New York
Make sure you have enough listings and sales of manufactured homes. I am located in the Northeast in an area where I was doing some manufactured housing. There is not a large market for them so my radius was sometimes over 10 miles. I started to notice a high rate of foreclosures with these properties. I stopped doing them because I was really uncomfortable with the sales of newer homes when there were so many vacant bank owned one's built after 2000. I notice you are in Massachusetts so if you are in a more rural area where they are less common I would advise you to be careful. My first intro was on McKissock. They had a pretty good course explaining these properties.
 

DWiley

Elite Member
Joined
Apr 4, 2007
Professional Status
Certified Residential Appraiser
State
Tennessee
Hey guys/gals,

I don't see them often but occassionaly they come by. It's more intrigue than anything as I've never done one before. Nor has anyone in my office either. Ive only read about them in classes. I was wondering if anyone could suggest a good place on where to find a few samples or a place to learn more about how to do them. Are they easier/same work/ more difficult to do than a typical single fam?

Thanks everyone
I recommend the course that Rich Heyn developed for the AI. did not do a lot of them either, but I found that course was one of the best I have ever taken.
 
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