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Lister explains why 'landed' and 'unlanded' mobile homes are valued differently in practice
Summary
Lister Jackson told the Board there is no statute but that sales data and market practice typically show lower resale values for mobile homes that do not include the land because of moving costs and market variability.
Lister Jackson told those present that the difference in resale value between mobile homes that include land and those that do not is driven by market practice, not by a specific statute. "There's nothing in statute," Jackson said. "It's more of a practice... sales data... reflect that mobile homes which do not own the land on which they sit typically have a lower resale value."
Jackson explained that when an unlanded mobile home is sold it may need to be moved from the site, and that moving costs and uncertainty about the site's stability are factors reflected in sale prices. He said mobile homes that remain part of a parcel or park generally show more stable values in sales data.
