Morro Bay Experiencing a Seller's Market Again

By
Real Estate Agent with I serve buyers and sellers everywhere in San Luis Obispo County BRE #01839596

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 ordinary older home (built in 1981) in good condition but pretty dated and needing new carpeting.

In fact, the one stand-out quality this mobile home has is its nice view:

If I had doubts about how the market has turned, this deal has helped me believe that a seller's market is developing once again--at least in Morro Bay! The sale of this home will leave several very disappointed potential buyers gnashing their teeth, and one very happy owner. This home has been on the market since August and has fallen out of escrow twice, but now it appears to be on its way to a new owner for a good price instead of languishing on the market for months.

Posted by

Sonsie Conroy             
CA Lic. No. 01839596
Keller Williams Central Coast Realty
San Luis Obispo, CA
Cell: 805-235-2351
Email: sconroy@slonet.org
Website:www.sloliferealestate.com

Comments (7)

Jeff Ragan
Ming Tree, Realtors Real Living - Eureka, CA
Luxury Agent, Northern California

That is indeed a pretty nice view!  Certainly part of the value of the home!  Congratulations!

Dec 01, 2012 08:26 AM
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

That is a nice view. The lack of homes on the market is attracting multiple offers on listed property. Good luck with your sale!

Dec 02, 2012 09:46 AM
Sonsie Conroy
I serve buyers and sellers everywhere in San Luis Obispo County - San Luis Obispo, CA
Energetic, Enthusiastic, Knowledgeable Realtor

I'm keeping my fingers crossed that this deal goes through for my buyers. They are so eager, and so delighted with their find. It's nice to see an upswing in the market, more excitement, more sales. Very good!

Dec 02, 2012 02:25 PM
Lloyd Binen
Certified Realty Services - Saratoga, CA
Silicon Valley Realtor since 1976; 408-373-4411

Sonsie, yeah if a mobile home is getting 7 offers, you know it's a seller's market.  No question about it.  That is a beautiful view, but without a hot market you wouldn't see 7 offers.  Any relation of Jim Conroy in Morro Bay?

Jan 03, 2013 05:41 AM
Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417
United Real Estate - Addison, TX
Real Service. Real Results. Real Estate

The fantastic view and the hot seller's market contributed to the multiple offers on the property. I hope it makes it past closing and funding this time.

Apr 27, 2013 01:00 PM
Sonsie Conroy
I serve buyers and sellers everywhere in San Luis Obispo County - San Luis Obispo, CA
Energetic, Enthusiastic, Knowledgeable Realtor

Lloyd, no, we're not related to Jim Conroy in Morro Bay. I thought the name was fairly uncommon, but now there are at least a half-dozen in our local phone book!

Lorrie, the escrow did close this time, and my buyers celebrated New Year's Eve in their new home, just about a mile to the beach.

Apr 27, 2013 04:31 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

That is a wonderful view, and no wonder this mobile home received multiple offers!

May 02, 2013 01:19 AM