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Mobile Home With Large Addition - What To Do? What To Do?

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notsmith

Thread Starter
Freshman Member
Joined
Jun 7, 2016
Professional Status
Certified Residential Appraiser
State
Pennsylvania
I'm a trainee and my supervisor thought this was a good one to put to you all (he didn't know you existed!!!). Any thoughts and ideas on how you would handle this.

1. Property purchased in 1975 with a mobile home already on it.
2. 25 years ago, homeowner, built an addition with a full basement, 1 built-in garage and 3 attached garages.
3. Covered everything in a wood siding (looks cedar).
4. It is a very chopped up floor plan, but looks like one rambling house.

Tax records call it a mobile home.

I was thinking we could value the mobile home part differently, ya know like finished basement, I thought this was a brilliant solution, until we did the inspection. There are NO bedrooms in the 1000 sf addition. There is a bedroom in the lower level.

Approaches? Thoughts? Ideas?
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Manufactured with add-on. All you really can do is find similar sales (add on to MH) even if you have to go back five years in time. We have a few around here and some are difficult to recognize because the assessor may or may not change them from "Manufactured" to "Stick". Pick those sales apart to use for support of the inevitable functional obsolescence.

This is one and it had a new addition to an old DW unit. And guess what? It sold for about the same per SF as the MH would have. In other words, the new addition contributed about 50% of what it would have had the entire dwelling been a stick built house. Holcomb_MH_Maysville1 (Medium).JPG
 

JTip

Elite Member
Joined
Oct 12, 2004
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Client? Intended use? (very important items).....
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Isn't it a mobile home because it was built before 1976?
Here it is a tornado magnet...

mobilehome_2.jpg
 

notsmith

Thread Starter
Freshman Member
Joined
Jun 7, 2016
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Client? Intended use? (very important items).....

Client is homeowner who wants to know what her property is worth - ha ha. She has an auctioneer who wants her to sign-up AND she has a church across the street who is interested in the property. So, if you wanted to expound on anything related to why intended use is so important, I would be more than willing to listen or in this case....read.
 

notsmith

Thread Starter
Freshman Member
Joined
Jun 7, 2016
Professional Status
Certified Residential Appraiser
State
Pennsylvania

notsmith

Thread Starter
Freshman Member
Joined
Jun 7, 2016
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Terri, Does it matter that it is such an old mobile? the inside has been redone. I was thinking that suggesting an inspection of the foundation would be in order.
 
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