morro bay market report: Morro Bay Experiencing a Seller's Market Again
- 12/01/12 07:58 AM
Mobile homes appeal to many people who appreciate their lower initial cost, ease of upkeep, friendliness of park living, etc. But rarely are they considered to be a true real estate investment. In fact, they are more likely to lose value than to appreciate, as stick-built homes normally do. However, I am in the middle of a deal (representing the buyers) involving a middle-aged mobile home in a park that has received no less than SEVEN offers, most above asking price and most also all cash. We're not talking a triple-wide fantasy home worth $200,000 or more; rather, a nice but … (7 comments)
morro bay market report: Morro Bay & Cayucos Real Estate Market Report: Stagnant
- 12/13/11 04:11 PM
These beautiful coastal communities are still struggling to overcome economic issues and begin a real estate rebound. Looking at single-family homes, condos, and PUDs, prices have drifted downward since the first of the year. Price per square foot has gone from $337 to $262 at the end of November.
Prices on for sale versus sold homes have been somewehat erratic. For sale prices have maintained an average in the low to mid $700,000 range, while sold home prices have jumped from $554,000 to $429,000 to $639,000, finally ending up at $452,000 at the end of November.
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Mobile homes appeal to many people who appreciate their lower initial cost, ease of upkeep, friendliness of park living, etc. But rarely are they considered to be a true real estate investment. In fact, they are more likely to lose value than to appreciate, as stick-built homes normally do.
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