Mobile Home Prices: How to Find the Blue Book Value of Mobile Homes
Posted On July 12, 2021
The blue book value of a mobile home is exactly what it sounds like: a numerical value found in a book. In the past, there were several books. Today, there is only one book that contains the blue book value of mobile homes. It’s called the NADA Manufactured Home Assessment Guide. This guide is what professionals use to determine the value of a mobile or manufactured home. The blue book value of a mobile home is calculated using a variety of criteria. These criteria may include geographic location, make, model, size, and age of the home in question.
Even if you can access this manual, it is recommended that a professional appraiser do the work for you. The formula for calculating the value of your mobile home can be quite complicated. The book value will be more accurate for mobile homes and areas that are considered average in nature. It also depends on the position of the real estate market in your area. Because this is such a deep process, you must rely on the services of a professional if you want things to get done right. There are certain reports that you can purchase online to help you determine the market value of your mobile or manufactured home.
When you buy or sell a mobile home, the blue book value will come into play. Book value is required by most lenders when it comes to financing people who need a home loan in order to purchase their mobile or manufactured home. If you are not ready to hire a professional appraiser to come to your property, you can request an appraisal online. You will need to provide detailed information about the property for use by the online appraisal service. These types of services and reports give you an accurate idea of the value of your mobile home blue book so you can decide whether or not you want to sell. Mobile homes generally do not appreciate in value, but this is not a hard and fast rule, but rather a more general one.