Appraisal Guidelines

From MBSAwiki

Modular homes appreciate at the same value as a conventional, site-built home. In fact, the Fannie Mae Appraisal Guidelines for Modular Housing provides that when establishing the value of a modular home, the appraiser may utilize comparable site-built homes in the appraisal.

The single largest problem that arises in the appraisal of modular housing is a lack of understanding by the appraiser about modular housing. Many appraisers confuse modular housing with manufactured housing, which is an entirely different type of housing product that is built to the HUD Code.

What is important to remember is that there is no difference between modular housing or traditional site built housing. Both types of houses are built to comply with all state or local building codes and both types of housing are valued and appreciate at the same rate.

For additional information about appraising modular housing, please review the Fannie Mae Appraisal Guidelines for Modular Housing.