1. 

   Shawn

   March 29, 2012 at 2:29 pm

   The problem with NADA guide is they do not give an accurate value based upon actual recent home sales in a given area.  In our market they under value most homes in communities and that in turn hurts the customers equity position.  Until actual appraisals and comparable sales are utilized consistently through out the country our industry will still be perceived as less appealing housing alternative.  Book values in our industry should be eliminated as no matter how good the book it is not accurate and not (general housing) industry standard.
   1. 

      SClevenger

      April 3, 2012 at 9:47 pm

      Shawn,
       
      NADAguides has been a trusted source in the MH industry since 1973. We are very active in the industry and strive to be the most accurate pricing available.
       
      NADAguides emphasizes the importance of the physical appraisal and seeing the need for an appraisal method specifically for the unique needs of manufactured homes as personal property, developed the NADAguides National Appraisal System for appraisers in 1976 (a list of MHV designated individuals can be found at http://appraisemanufacturedhousing.info/Appraiser_Registry.html).
       
      With that being said, the majority of the manufactured homes sold in the U.S. are personal property (not attached to land or in a sited location) and as such, the Cost Approach (aka “book value”) is something that is needed for appraisers, lending institutions, insurance companies, or as a reference for individuals buying and selling a manufactured home. The Cost Approach is one of three methods of valuation used by real estate appraisers. Cost, Market/Sales Comparison, and Income are the names of the three accepted approaches to value. One reason the Cost Approach is frequently utilized is that acceptable comparable sales data are often not available to the appraiser (while this is something we are familiar with in the MH industry, it is also an issue for site-built homes in some areas).
       
      1. 

         L. A. Tony Kovach

         April 3, 2012 at 10:23 pm

         “Approve”

         L. A. ‘Tony’ Kovach
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