We see it and we know that you do too.
Prices for mobile homes on leased land are increasing faster than we have ever seen and everyone is wondering why it is and what can be done about it.
Mobile homes on leased land are, what many people feel, the last beacon of affordable housing and right now things are not looking too affordable for the majority of Buyers.
Recently, we here at The Mobile Home Dealer, have been asked if the current Covid-19 Delta Variant has affected mobile home sales throughout the Sarasota area.
What we can on the front end of this question is, yes it has.
As we can all agree, business is not ever going to be run the same after COVID-19 came about nearly 18 months ago.
This can be seen by the dramatic rise in takeout done at your favorite restaurant. Just last week when our staff went to lunch we had to wait an extended time to be sat,, what seemed like forever to place our order. After getting to the front of the line we noticed that the problem wasn’t that the workers weren’t working hard, no, the delay was because of the massive amount of takeout orders other customers were making which backed up the rest of the line.
This is only one of several examples that we have all seen over the past several months as we all try to do our best to get back to normal after the worldwide pandemic of Covid-19.
Throughout the Sarasota area, we have changed our way of selling mobile homes as a direct result of the pandemic.
It is commonplace now that most of our homes are sold virtually to town Buyers instead of physically meeting them in person to see the home. To accommodate this, we have been utilizing virtual tours, Zoom Calls, and online videos so that all of the Buyers have a great idea of exactly what they are looking at when we discuss their new home purchase with them.
As we all know, the real estate market throughout the country, and especially throughout the greater Sarasota Florida area, is booming and has been for well over a year at this point.
With increased prices in real estate, it is only expected that the price increases would eventually come down to mobile homes on leased land and this is one of the several reasons why we are seeing increases in mobile home prices.
Prices have increased in lot rents higher than normal as well.
It is a reasonable expectation to see that lot rents will increase somewhere around 1-3% per year to match the annual inflation numbers of the rest of the county.
For 2022 we saw an average increase of 6% across all mobile home parks as the inflation numbers for the United States are currently much higher than the previous years on record.
So, what can be done about rising mobile home prices in Sarasota Florida?
What we have found is that there are still plenty of fairly priced homes for sale in the Sarasota Florida area but you may need to look a little harder than what you had to a few years ago.
With every change comes opportunity and we feel that, although the mobile home buying process may have changed the same great service continues to be offered to each and every Buyer!
Low-income households make up a key demographic for mobile homes. Many low-income households have been affected by job losses or reduced working hours during the pandemic. Consumers who purchase mobile homes typically purchase the home and lease the land. Some lenders have made it increasingly difficult to secure home-only financing which could have an effect on demand for manufactured homes.
Operators of mobile home communities have seen lower sales during the pandemic however many anticipate that demand will return as lockdown restrictions are eased and more people return to work. The industry is also predicted to see increased demand from consumers looking to downsize as well as from those considering purchasing a vacation home as a potentially safer alternative to hotels and resorts.
Working with a licensed mobile home broker such as The Mobile Home Dealer will help give you the edge on this as our Sales Agents are in and around mobile home parks all throughout Sarasota Florida on a daily basis and know of several Buyers who are looking to sell their mobile homes before they ever go on the market.
If you are trying to buy a mobile home in Sarasota virtually and do not have access to the listings that our agents have it can be a very frustrating and time-consuming process-don’t let this be the case!
Feel free to contact any of our Sales Agents here at The Mobile Home Dealer and we will be happy to help guide you in exactly what properties are for sale, which ones are coming up, and what a fair offer price is for all of them!
The Mobile Home Dealer are licensed mobile home brokers in Sarasota Florida and the surrounding areas. We provide professional buy and/or sell assistance to our clients. If you have any questions, don’t hesitate to get in touch with us by clicking this link. You may also visit our Facebook Page and send us a message.
This is Mark Kaiser with The Mobile Home Dealer and we help mobile home Buyers and Sellers get to a better place in life!