When a homeowners association is working with a lender to provide financing solutions or guidance for community residents, Datacomp can step in to provide appraisals of existing homes with the use of comparable sales. This ensures homeowners associations are conducting due diligence on behalf of members, and individual homeowners get fair representation of their assets, with the use of the same data sets a community owner is likely to use.
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Datacomp works with associations to the provide market-based appraisals on pre-owned homes. As with any appraisal or inspection, Datacomp has no financial interest in the final valuation, so we provide the clarity and balance that is required in any transaction. We protect associations and homeowners by carefully guarding against conflicts offering an unbiased report.
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.
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.
Quality and Value
Homeowners associations don’t want to leave money on the table any more than individual homeowners do. Datacomp ensures proper pricing of any manufactured home so owners can sell for a fair price, and also so a listing price is not so high that the home won’t move. Make sure the insurance to value is appropriate for a specific home in a specific market. And remember, having an appraisal on the kitchen table during an open house is a great sales tool to reassure buyers of quality and value.