Datacomp works with corporate appraisers who procure and manage valuations for assets within a community or portfolio of communities.
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Datacomp’s 30 years in the business, its national presence, reputation and its unparalleled record keeping and data maintenance all provide an unmatched level of confidence for any manufactured home professional in need of timely, accurate and affordable appraisal services.
Datacomp’s Unique Approach
The Datacomp new home market-based appraisal follows the same methodology and criteria for valuations on residential site-built homes, a unique offering in the manufactured housing industry. We focus on a thorough inspection, finding recent and similar nearby sales, and conducting analysis of those comparable home sales to allow our appraisers to document an unbiased and expert opinion of value.
Comprehensive Market-Based Appraisals
Home photographs, measurements, and detailed descriptions of the home and attached structures are gathered and forwarded to our in-house appraisal experts. Utilizing our proprietary database of more than five million manufactured home sales, one of our appraisers calculates the fair market value and produces a written appraisal report. This comprehensive 12-page report is then emailed directly to you, providing you with a detailed description of the subject home, options and accessories, community data, interior and exterior photos, comparable sales data, and a calculation of the fair market value-based determination on comparable sales. Our appraisal reports are welcomed by hundreds of lenders nationwide.
How We Use NADA
The National Association of Automotive Dealers produces the NADA Manufactured Home Value Guide, which is used to calculate the average depreciated retail value of a manufactured or mobile home. The primary drawback of this approach is that book value is designed to work around the many factors from the local market that impact individual home value. The NADA producers even caution users that the only way to get an accurate value for a specific home is to physically inspect the home and to use recent, local comparable sales. At the lender’s request, Datacomp will calculate the NADA Book Value and use it as the “cost approach value” in our market-based appraisal.
Know Your Assets
Investors are increasingly interested in “books” of homes or the cumulative homes value within a particular community. Meaningful valuations on these kind of collected assets can be difficult to obtain. But Datacomp is able to use its documentation from more than 5 million valuations nationwide, as well as its understanding of MH community performance in specific regions, to form a baseline for portfolio valuations of this class.
Condition and Ratings
Chances are at least one of our inspectors has spent time in your community of interest. With a network of more than 700 field inspectors, and historical knowledge of how communities operate in specific regions, Datacomp can do the research, document findings and produce a report that assigns a 1- to 5-star rating on any community of interest in the U.S.
JLT Market Data Reports
Datacomp works in communities across the country every day, and our inspectors keep meticulous notes from community owners and managers on profile changes to a particular property. There are many changes that may occur in a manufactured home community every year, and among those we track are rent and adjusted rent figures — comparable from year to year — as well as occupancy rates for more than 40,000 communities in better than 150 primary markets across the continental United States.
Sometimes an outside appraiser will go to the bank with appraisal information and come to realize there is a requirement for market-based comparable sales. In this scenario, an outside appraiser may turn to Datacomp to fill the need. At Datacomp, we would rather have that bank acquire our services from the onset, but we’re happy to be of assistance where it makes most sense for the customer.