Manufactured housing questions

[realbeat]

If my neighbor is allowed to bring a manufactured home to the lot across from my stick-built home, in a neighborhood of all stick-built homes, and attaches said home permanently to a foundation, will the home be evaluated just like the rest of the stick-built neighborhood or will the manufactured home receive a lower per square foot evaluation? If the evaluation is lower, would that tend to depress other values in the neighborhood?
I am asking this because we live in a community that is facing a request to allow a manufactured home on a permanent foundation to be place within our community and we can choose to deny the request or accept the request.
Also, please email responses to realbeat@aol.com

 

[Jerry Bone Jr]

If my neighbor is allowed to bring a manufactured home to the lot across from my stick-built home, in a neighborhood of all stick-built homes, and attaches said home permanently to a foundation, will the home be evaluated just like the rest of the stick-built neighborhood or will the manufactured home receive a lower per square foot evaluation? If the evaluation is lower, would that tend to depress other values in the neighborhood?
I am asking this because we live in a community that is facing a request to allow a manufactured home on a permanent foundation to be place within our community and we can choose to deny the request or accept the request.
Also, please email responses to realbeat@aol.com

It depends.
One way to get an accurate answer is to hire a professional appraiser.

 

[CANative]

Appraisers will compare the "stick built" houses to sales of other "stick built" houses. They will compare the manufactured homes to sales of manufactured homes.

Apples to apples.

I don't think one new manufactured home in your neighborhood is going to drag down the value of all the others properties. Besides, new manufactured homes can be quite nice and to many people are indistinguishable (appearance wise) from the site built homes.

 

[Mr Rex]

I suspect the original poster is talking about a modular home. Maybe the OP can elaborate on their concept of a manufactured home.

 

[realbeat]

I suspect the original poster is talking about a modular home. Maybe the OP can elaborate on their concept of a manufactured home.

I know the difference between a modular home and a manufactured home. I am talking about a manufactured home. Modular and stick-built are approved in our community, but we are deciding about Manufactured homes.

 

[CJ1234]

Manufactured homes would be compared to manufactured homes
Stick built to stick built.

As to whether or not it would impact the appeal of your neighborhood.....and thus values, you would need to commission a local appraiser.

 

[Smokey Bear]

Manufactured homes would be compared to manufactured homes

Would should be 'should'. If it looks good and fits in with the neighborhood, some dumb appraiser may never notice that it's not stick built and will compare it to sticks.

 

[realbeat]

Manufactured homes would be compared to manufactured homes
Stick built to stick built.

As to whether or not it would impact the appeal of your neighborhood.....and thus values, you would need to commission a local appraiser.

Unfortunately, different appraisers have different opinions. I was told by the State appraisal office in Sacramento that manufactured homes are appraised differently than stick-built homes and are evaluated less per square foot. I am finding that many appraisers treat them the same as stick-built while others will only compare manufactured homes to other manufactured homes, etc.
Our private community is very unique and actually what is being sold is a leasehold estate not fee simple, so there are no other comparison properties except within our own community and everything is stick-built in the community.
The main concern is whether a manufactured home will open the door to more of the same and reduce property values. No one seems to be able to give a definitive answer to this. I guess there is a lot of subjectivity in the appraisal world----which I was not aware of.

 

[CANative]

The main concern is whether a manufactured home will open the door to more of the same and reduce property values. No one seems to be able to give a definitive answer to this. I guess there is a lot of subjectivity in the appraisal world----which I was not aware of.

You're seeking a prediction of the future. This is not a job for a $400 residential appraiser. You would need a complex market analysis. This type of work would probably be considered a consulting assignment. You need a specialist and it won't be cheap and quick.

 

[Jo Ann Meyer Stratton]

Have you seen the factory built home in question? Does it resemble the established homes in your neighborhood? After it is installed and landscaped would any one driving down the street know it is a manufactured home and not a built on site home? Is the home to be built to the same building code as the existing homes in the area? If so it is a modular home and not a manufactured home. Will it be built to the national HUD building code? If so, it is a manufactured home. Will the home regardless of the code followed in the factory, have a permanent steel undercarriage that provides the structural support for the home? If it does and it is constructed to the site building codes for the area it is a "on frame" modular.

Much more information and correct data needs to be known before any questions can be asked or answered.