When you see several MHPs for sale in same area


#1

Is it bad to see several parks for sale in the same city / county? Is this a sign of investors turning parks around and saling them for profits at the same time?

Maybe I am looking into it more than what is required. I just found it odd…


#2

I have been noticing several parks in mid to south GA up for sale as well. Could some one who knows the GA market help me to understand that market a little better. Is it a dieing market or is it in a turnaround state. I can be more specificon the towns if you email me farmert@zoominternet.net I’m planning a trip to that area in about two weeks So if anyone has any pros and cons towns to stay away from or towns that are growing Please let me know Thanks Terry


#3

I’m not sure one could extrapolate a general situation (more than one park for sale in a county or town) to a specific situation (is this park a good deal?).

The condition of the park, the demographics of the town and the price will all play into whether a park is a good deal or not. Several parks available in one town might represent a real opportunity for someone who wants to move there and take over the market.

If a location is “dying” then the MHPs will be the last to go because they represent affordable housing. There will be plenty of obvious signs of economic distress before that happens. If you’ve been to ND you’ll know what to look for.

Anne


#4

I am in South Georgia and what I am seeing as the reason MH communities are going on the market is mainly profit taking. Subdivision developers like buying MH Communities for the the zoning aspect. Most city/County governments will roll over for a developer who will rid their fine city/county of a dreadful MH Community. MH Community owners know this and with real estate prices being high and high density zoning at a premium price owners are taking the money and running to the bank.