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Updated over 4 years ago,
How do I value this mobile home
I had a lead come in from direct mail on a 2/1 mobile home on that is currently occupied month-to-month at $400. The seller is an agent (maybe just a tire kicker?).
When I pull comps there are some in the same neighborhood but the sold prices are WAY higher than what the home could ever be worth. For example - same size mobile home across the street with a little larger lot sold for 270K. Up the street from that another at 700K. Seems like there is something going on in the area in terms of development but I'm not aware of it. That is the only thing I can think of that could be driving those prices.
Here is where I am stuck - how do I find comps? Should I look at lot size and use that? Kind of stuck on where to start my offer. Any thoughts would be appreciated.