The purchase of or investment in a community requires a vast amount of research and due diligence, from the variety of utility service infrastructure to the condition of roads and community occupancy levels. There is a high likelihood one or more of our 700-plus nationwide inspectors has been in the community and even some of the homes involved in your next transaction. This is why investors in every part of the industry rely on Datacomp’s JLT Market Reports and other sets of valued information each day.
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Often, when an investor is involved in the purchase of a community, they’re also purchasing community-owned homes, that will be for rent or sale. Datacomp is the national leader in appraisal services for pre-owned manufactured homes. If you want a line item you can depend on for an aspect of community performance or particulars on an individual home in a new community, Datacomp is the place to turn.
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.
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.
Home Status Documentation
The most clear and essential service Datacomp provides is evidence that a home actually exists. We verify make, model and serial number, year and size. We document the options and accessories within the home, take photographs on exterior and interior elements and comment on any apparent defects or improvements. However, a home inspection from Datacomp is not a structural or mechanical inspection. Inspections that detail HVAC systems, the integrity of the roof, tie downs, belly, plumbing and other such attributes require a full appraisal. In other word, Datacomp’s home inspection services essentially is the appraisal minus the valuation. The Datacomp home inspection report is designed to bring attention to any major structural flaws, and is best suited to lenders who are less concerned with collateral value and primarily want to satisfy due diligence requirements. Maybe the loan is already secured, and the lender is looking back to check a box.
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.
Unique Market Strategy
Acquiring a new community or the expansion of an existing community comes with a long list of questions about average time on market, how larger versus smaller homes are selling, new home purchases and sales versus rental upgrades, and many more. Datacomp has a deep vault of valuable information that can be filtered and fit even to the specific needs of an investor with unique market strategy.