Appraisers' Free Forum

GP and I went to the Tulsa fair a few days ago, primarily to check out a new type of Modular Home on display there. Right next to it was a doublewide so we figured, what the heck, lets check that out as well.

Inside, a salesmen is telling people how this thing appreciates in value the same way a stick built does. He must have seen the look on my face because he approached me and said: "Looks like you have a question."

At this point GP has a smile on his face and a twinkle in his eye and is settling in comfortably because he knows what is coming.

"Yes, I do", I said. "I would like to know how you can tell people things like that. These things start depreciating as soon as they leave the lot, just like a car".

He said, being as condescending as he possibly could:" Well, the house is connected to the value of the land, so as the value of the land increases, so does the house".

"I see", I replied. "And where would that be"?

"Oh, everywhere," he said.

So I told him that, at least here in Oklahoma, the appreciation of the land value does not rise fast enough to make up for the depreciation of the MH. And that after 10-15 years the property will be worth the value of the land minus the cost of removal of the MH.

He got pissy and said (mind you, he looked all of 30):"I have been doing this for a long time and I know what I am talking about. You are wrong".

I said:"We are real estate appraisers and my partner here has been doing THAT since you were in diapers and I am telling you that our firm has never appraised a MH property that has gone up in value".

We left before they threw us out because people around us were starting to notice the conversation.

How the heck can they get away with telling people crap like this? Now I understand the bewilderment of people who are trying to refi a MH and find out they are uspside down.

There ought to be a law against blatant lies like that.

Remind me never to piss you off.

Annie, forward all that to the local DA, point out that it's misrepresentation at least, and fraud at worst, and that he's been put on notice by two real estate appraisers that he's wrong. If he keep doing it, maybe the DA can arrange a date for him with some large guys with tattoos.

Good idea, Jim. We are meeting with our lawyer on Friday on another matter (he also is the prosecuting attorney for the appraisal board) and see if he is interested in the case.

Truckboy .... you could NEVER piss me off.

Heh...

Nothing will curb a salesman's enthusiasm like those three little words, "You're under arrest."

Annemieke Roell wrote:Truckboy .... you could NEVER piss me off.

But I HAVE tried

You could keep the DA busy, because every manufactured and modular dealer I've ever met makes those claims, I think its part of their required training. In NC they are required to take a 4 hour class to get their "sales License", similar to a car salesman license. Maybe that's where they teach that BS.

Joker wrote:

Annemieke Roell wrote:Truckboy .... you could NEVER piss me off.

But I HAVE tried

Yes you have. But you never quite made it

Failed again. I'm such a loser!

Keep trying. You're bound to push the right button eventually.

(Sorry, Annemieke, I couldn't resist.)

I'll let you in on another little secret ....

Next time you inspect a "doublewide" on a permanent foundation ... take a close look at that foundation ... you will find that the home is NOT on the foundation ... in fact, there is a 3-4" gap between the house and the foundation ...

I hate to argue DB but that house really is on the foundation. But the CB perimter is just skirting. The foundation is the piers under the chassis.

(I like a good smart ass).


And I like to push women's buttons. Sometimes I hit the right ones! LOL

DUH....of course you just misunderstood him....new MH's increase in PRICE every year.....not the one we sold last year, you know this year's models go up and up in price.

Isn't this stuff just sort of covered under sales puffing, and as you captioned, buyer beware? I can't imagine a prosecutor being interested in a case against a liar, unless it went to some kind of an express or implied warranty.

Edd, it is still misleading.