MH Sells Quicker than Other Real Estate

WiscNews reports from the Wisconsin Dells a local realtor says real estate sales in the area through October 2011 have reached 192, up from 167 last year and 170 in 2009, and foreclosures are holding steady. John Schoenherr, of Century 21 Affiliated, also notes that much of the real estate is overpriced: Single-family non-manufactured homes are 29 percent overpriced, condos 18 percent too high, land/lots 38 percent overpriced, and manufactured homes 33 percent above market. Despite being priced third highest above market, MH sells much quicker than the other categories he measured. According to Schoenherr, manufactured homes are on the market 103 days, condos 153 days, single non-manufactured homes 157 days, and land/lots average 215 days on the market. Still, he says manufactured homes are not selling well because only two or three banks continue to lend money on manufactured homes.

(Photo/graphic credit: Wikipedia)

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