A tool designed to estimate the market value of a manufactured home based on various data inputs. This tool often incorporates factors such as location, size, condition, age, and comparable sales to generate an estimated value. For instance, entering details about a 1,200 square foot manufactured home in good condition within a specific county, along with recent sales data from the area, results in an approximate appraisal figure.
Understanding the estimated value prior to selling, purchasing, or refinancing a manufactured home is advantageous. It facilitates informed decision-making during negotiations, secures appropriate financing, and ensures adequate insurance coverage. Historically, obtaining accurate valuations for these types of residences presented challenges due to their unique characteristics and limited comparable sales data. This tool helps bridge that gap by providing a readily available estimate.
