It is no surprise, we are currently in the middle of a real estate boom!
Every where you look the cost of single family homes, condos and townhomes are rising to record highs at previously unthinkable speeds!
This dramatic rise in prices has lead most single family home sellers who are looking to sell their homes to wait until they see a slow down in prices as each and every month their homes continue to sky rocket in value.
One may speculate and say that the rise in home prices will continue so long as interest rates remain low, others will say that the rise in prices will stay the same until the inventory of homes that are on the market catches up on the demand. Yet, still, others have stated that the rise in home prices is the new normal, meaning, that home prices will continue to go higher and and higher as time goes on and the cost of a particular home today will be far less than what it will be down the road regardless of interest rates.
While no one has a clear crystal ball, one thing is for sure; real estate prices will continue to stay high for the foreseeable future.
With that basic fact stated, does that mean that mobile homes on leased land throughout the Sarasota area will increase at the same rate or will they continue to stay the same price?
Mobile homes on leased land are viewed as and taxed as motor vehicles in the state of Florida. The reason for this is that when there is no land attached to the purchase of the mobile home the home is then is viewed as a personal property sale. Once the home and the land that it is attached to is included in the sale then this means the home is now viewed as real estate and no longer personal property. Real estate carries with it a deed on the purchase where as a piece of personal property carries with it a title.
What we here at The Mobile Home Dealer have seen right now is that mobile homes on leased land are staying at around the same prices as they were this time last year. We have seen some Sellers attempt to up the asking price of their homes to reflect the lack of inventory that is available in the single family market. This attempt at raising their mobile home price has lead to their homes sitting on the market for an extended period of time, many of which, have had to drop their prices in order to get the home sold.
The difference that we have seen in the mobile home space right now is that homes under the $30,000 price point that are in good condition are selling faster than ever. We are not able to put a finger on exactly why this is but we continue to see homes at this price point that are two bedroom and two bathroom to sell faster than we can keep up with. Many of our listings that meet this criteria never go on the market in a traditional sense as they are usually sold to one of our Buyers on our Buyers List.
While single family homes continue to rise to record highs mobile homes on leased land continue to stay about the same price. This is yet another reason why buying a mobile home on leased land is such a good idea as it continues to be one of the last affordable options for housing in and around the Sarasota Florida area.
This is Mark Kaiser with The Mobile Home Dealer and we help mobile home Buyers and Sellers get to a better place in life.