Mobile Home Prices - Posted by Steve WA

Posted by Dirk Roach on November 02, 1998 at 23:15:08:

I agree with Gator on this! Check out the comps in the park. Talk to the PM see what he/she thinks one will sell for with financing in THAT park.
I myself, keep an ongoing list of comps for every park that I am working with. I have even, with one park, got a list of what they have sold all of their used Mobiles for (repo’s, abandonments and such) over the last two years. But still I have to keep in mind that the market two years ago isn’t nessicarily the same as it is today.
But really Steve, follow Gators advice. The market will be different all over, and will even vary from one Park to another down the street from it.
Good Luck, and keep us all posted,
Dirk Roach

Mobile Home Prices - Posted by Steve WA

Posted by Steve WA on November 02, 1998 at 15:06:23:

I am looking into a mobile (1973 Freedom 3br 2ba) and the seller is wanting $8,500. The seller says “it needs work” which leads me to believe the asking price is too high. Any ideas on where I can get mobile home prices. (I am not a member of a credit union). I’m just looking for a starting point with the seller. Thanks in advance.


Re: Mobile Home Prices - Posted by SRH (CA)

Posted by SRH (CA) on November 06, 1998 at 01:41:11:

Hello Steve,

Look to what Gator and Dirk have said. They are right. It varies quite a bit even within a small radius. I found two 1960’s mobiles in a very small park, in a desirable city, that the owners were asking $7,500 and $8,900 for and wouldn’t budge. (I couldn’t believe it - on mobiles that age?!?) Only about 15 miles away, in a different but connecting city, I found two newer ones (1970’s) asking between $5,000 to $6,000 and they have been more flexible on negotiating pricing down from there. I haven’t completed dealing with them yet, but I don’t plan on throwing in the towel just because it might be a little pricier in my area than most of the country. I’m just trying to get a little more creative. Hense the name “Creative Real Estate Online”! (smile!)

Lonnie’s book talks about calling on ads for $6,000 or less, not buying them at that price. Have you gotten “Deals on Wheels” yet? (Mabey you can buy Eric’s. - just kidding!) There is a 30 day refund if you buy it from this site and don’t like it.

Good luck to you in what ever it is you decide to do.

Signed, Fellow Newbie,

Re: Mobile Home Prices - Posted by John(NH)

Posted by John(NH) on November 02, 1998 at 16:53:29:

Up in NH, that same MH would probably be asking for
10 to 15k… if not more. :frowning:


in my neck of the woods… - Posted by Gator Shelton

Posted by Gator Shelton on November 02, 1998 at 16:12:36:

I could only give about $1200-1500. After fixups I wouldn’t want to have more than $3K in it and I could sell it for 7K. Prices can vary greatly from state to state, city to city, and even park to park. The only way to get accurate prices is to check other home prices. When you determine what the home is worth, offer them half. Be nice but be cheap.

Best wishes and good luck from your friend,

Re: Mobile Home Prices - Posted by Eric

Posted by Eric on November 06, 1998 at 24:19:16:


I know what you mean. I bought DOW a few months ago, but after seeing the prices people wanted for their mobiles here on the Seacoast (and all of my wasted leg work), I opted instead to stay in landlording. I’ll be closing on a ten-unit building later this month. At least I won’t be at the mercy of park owners.