NADA Moblie Home Appraising

[Tim Hicks (Texas)]

Pamela, you took the words right out of my keyboard. All it takes is one or two honest appraisals on the front end (sale) or the back end (REO) to cut you out of the mis. I have found that if you use the correct factors in the Marshall & Swift Handbook, you will get a proper cost approach that matches the true market value. Too many appraisers fall for the "song and dance" of the dealers and try to use the "excellent" grade for manufactured homes that are plainly reserved for the upper end modular homes that come many things that a typical manufactured home does. Another important point is that in all the REO's I have done on manufactured homes, I have never seen one that rates over average to good in tne Marshall & Swift.