Kelley Blue Book, or KBB, is a trusted resource for determining the value of cars and other vehicles. Peoples assume that there’s a Kelley Blue Book for mobile homes, but unfortunately, that’s not the case. Although Kelley Blue Book has been around for over 90 years and is a go-to resource for car buyers and sellers, it doesn’t offer the same service for mobile homes.
Why is there no Kelley Blue Book for mobile home value? The reason is that mobile homes and traditional stick-built homes are valued differently and thus require different methods for determining their value. However, there is an industry-specific resource called NADA (National Automobile Dealers Association) which provides estimated values for mobile homes.
What is NADA Mobile Home Value Book?
NADA is a valuable resource for determining the value of a mobile home. It’s similar to Kelley Blue Book for cars and provides estimated values for mobile homes based on specific details such as the home’s make, model, year, condition, and location. It’s used by mobile home dealers, lenders, and appraisers to determine the value of a mobile home.
When it comes to mobile home value, NADA a.k.a JD POWER offers three different types of reports:
- The Basic Used Home Value Report
This report is for consumers who want to buy or sell a home and gives them a fair idea of the home’s value without having to approach a realtor or hire an appraiser.
- The New Home Price Report
This report is for anyone involved in the selling or buying of a brand-new mobile home and is a cost-effective solution for HPML (Higher-Priced Mortgage Loans) Appraisal Rule compliance.
- The Professional Used Home Value Report
This is an in-depth value report based on over 350 features, can be used by professionals involved in the sale of manufactured homes, and meets the requirements for either a 1004C or 70B appraisal form.
Is NADA mobile home value book free?
NADA mobile home value services are not free. Its fee for the NADA report varies depending on the type of report you choose. The cost is between $30 – $50. You can register here: https://www.jdpower.com/manufactured-homes
Examples of basic NADA mobile home value reports
Are there free mobile home blue book values?
MH Village offers a free mobile home value report for sellers looking to list their homes on the market. It is designed to help sellers price their homes accurately and competitively by providing an estimated valuation.
The report is calculated by certified Datacomp manufactured home appraisers using a cost-based approach, similar to finding the blue book value of a vehicle.
This valuation is free for sellers who list their homes on MH Village, and for those who are not ready to list, it can be purchased for $19.95. The report provides an estimated value of the home, which can be helpful for planning and decision-making when buying or selling a mobile home. You can register here: https://www.mhvillage.com/mobile-home-book-value
Conclusion
There are several options available for determining the value of your mobile home. The NADA value book and MH Village value report are two popular options that use a cost-based approach to calculate an estimated value of a mobile home. Both resources provide valuable insights and can be efficient for sellers looking to price their homes strategically.
