APPRAISAL OF MANUFACTURED HOMES AND MOBILE HOMES
There is a distinction between manufactured and mobile homes. Manufactured homes are factory-built to the
Housing and Urban Development Title 6 Construction Standards, commonly referred to as the HUD Code, on
or after June 15, 1976. Mobile homes were factory built prior to the enactment of the HUD Code, and are often
referred to as “pre-HUD Code” or “trailer” homes.
An initial consideration is the classification of the unit as either real or personal property. Real property status
may be verified by the manner of attachment to the site and whether certain forms have been recorded in the
County where the unit is located. A recorded California Department of Housing and Community Development
(HCD) form number 433A confirms that a manufactured home on private property was affixed to an approved
foundation as certified by a California licensed engineer, and that the manufactured home is no longer personal
property.
The valuation approaches outlined for other residential properties are applicable in the appraisal of
manufactured and mobile homes attached to foundations on individual lots. The Sales Comparison Approach is
often the most applicable valuation approach for these properties.
In many circumstances, the appraisal of a manufactured or mobile home on a fee-owned space is similar to
residential planned unit development appraisal. This includes consideration of homeowner’s association
services and fees as well as CC&Rs covering operation of the park and space improvement requirements.
Mobile home appraisal is becoming another specialized opportunity in the appraisal profession. This is
particularly true in the expanded market for mobile homes as low and moderate income housing.