Datacomp is an ally in business for brokers who work in the manufactured home market. We understand the product, the process and the client, which helps brokers make promises they can keep.
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As a full-service broker, you want to provide your client with a pre-owned home appraisal from Datacomp as a significant part of the due diligence process that comes with the quality work you promise.
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.
The Datacomp MSRV
The Datacomp MSRV, or Market Suggested Retail Value, is a valuation report intended to fulfill the HPML appraisal rules for new manufactured homes. Based on our trusted platform for accurate, market-based valuations, the MSRV establishes an independent, local retail value for a new home based on actual market sales.
Our MSRV product uses a market approach based on comparable, new home sales transactions. Consistent retail values are provided through automated decision-support tools and are appraiser-reviewed for accuracy and reliability.
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.
No other organization has dedicated three decades to quality service and an overall expertise in the appraisal of pre-owned manufactured homes. Datacomp’s national network of more than 700 inspectors in the field, the uncompromising record keeping and data maintenance, as well as the industry wide reputation of Datacomp all provide an unmatched level of confidence for our broker clients and their customers in acquisition strategy and portfolio management.