Like most property the Seller usually wants too much and the purchaser wants to pay too little to get mobile home school. Certain buyers may have different motivations for purchasing certain park (1031 money, ability obtain better financing, conversions to other uses, and location to where they live). In this book we will only look only in the value of a mobile home park for the typical buyer who will continue to operate it as a mobile home park.
Anyone that has seen an appraisal on a house or most epidermis real estate will have heard mention within the 3 approaches to determining the associated with that real property. They are the Cost, Sales, and Income Approach.
Unless you are coming up light and portable value of a brand name new mobile home park or 1 which is predominately vacant, I do not see any reason get a the cost concept. It is not likely the new mobile home park will be built nearby the it would cost to build the brand new park does actually take into account the amount of time, effort, and cash it takes to fill that park up with occupied and paying home-owners.
As far as the Sales or Market Comparison approach to value, this can be highly suspect. Famous . based on comparing the sale on the subject property along recent sales and adjusting for differences that you may or may not know about. Problems with this approach include varying expenses, rents, and management. An ideal an investor or appraiser I would likely use this approach as potential information and not draw any conclusions from it.
Lago Vista RV Park
2871 Hwy 72 W, Three Rivers, TX 78071
(361) 436-0845