Re: Why such a high asking price?

You are correct. This is marketwide IMO and I think a lot of this is based on many owners not being true investors or understand an income approach to investing. Another reason is that much of the time, owners are sure proud of what they have without looking at true reality. Another concept to consider is that in this market, owners know they will not get list price offerings for parks and will price a bit higher knowing they will come down, especially if an agent and their fee are involved. Many parks that I come across have owners who have been in place for a while and have an idea that there is a strong market for MHP’s and people are actively looking for them. Nationwide, the Multi-Family market is the strongest commercial investment vehicle by far. The mortgage crisis has played a hugh role in keeping the Multi-Family market strong, especially the affordable living sector. As an agent, this is the biggest obstacle in getting deals done since there is a large disconnect between buyers and sellers but its also the biggest reason that I have gotten to represent many transactions in the past 2 years because people tend to feel they are getting in over their head during the process.