2022 Mobile Home Buyers Guide
What crazy times we are living in.....
High Inflation, Global Pandemics, Man Made Global Warming, Electric Cars becoming mainstream, Billionaires with their own rocketships, Russia invading Ukraine and the continuation of the strongest real estate Sellers Market I've seen in my 20 year real estate careeer.
In many situations, Mobile Home prices at the beach have DOUBLED in the last two years. Two years ago $50,000 was enough to buy a mobile home in decent condition in one of the more popular mobile home communities in Rehoboth, Lewes or Millsboro. Now it's closer to $80K to $100K for a singlewide and $140K to $220K for a doublewide.
Demand for Homes near the Beach is still at an all time high. Everything from mobile homes to million dollar mansions are selling within days or even hours of being listed, usually with bidding wars and selling at or OVER the asking prices.
I have to laugh when potental buyers find a few homes on our website and call to tell me they'd like to set an appointment in two weeks to come and see them.... Two Weeks? There is a good chance the homes they asked to see will be under contract in two days and sold for more than the asking prices.
It was very common in the past to set appointments to see 5 to 10 homes in two weeks and then come to town and make low ball offers. That just won't work in todays market. The only homes that aren't selling in the first week of being listed are those that have something wrong with them, are extremely overpriced or have some strange issue with the owners where they won't let us show it to buyers.
Enough of my complaining, What do you need to do if you want to buy a house at the beach in 2022?
1. Have all of your ducks in a row and be prepared to make a strong offer. How do you do that? If you're paying cash, bring "proof of funds" with you. If you need a loan, get pre-qualified BEFORE looking at properties. I can't tell you how many people over the years have come down to look at homes without knowing what they can afford, only to find they can't get a loan. This wastes everyones time. Each house we show typically involves re-arranging at least 5 peoples schedules. The buyer and their family, the seller and their family, the list agent and the buyers agent and their family. I'd much rather be out fishing on my boat than showing homes to people who can't get a loan.
2. Know what area and which communities you are interested in. This can be done by spending a weekend at the beach and driving around different towns and communities. You don't even need to look at any homes to do this, just drive around and decide which areas you like. I'm more than happy to chat with you on the phone or through an email to tell you a little about each area and the communities.
3. There is a good chance that there won't be anything for sale in the town or community you like. This means you have to set up searches on our website that will automatically notifiy you when a home comes on the market in the town or community of your choice. As soon as you get an email notification from us with a property that hit the market, set up an appointment ASAP to come and see the property, and if you like it be prepared to make a strong offer because if the place is nice, there will probably be a bidding war.
To sum up,
Everything is more expensive now
Expect there to be bidding wars on nice homes that are in decent condition.
Most homes in good condition are selling the first week they hit the market (or sooner)
If you're not paying cash, most Realtors won't even show you any homes without a pre-qual letter from a lender.
If you want the house, you have to act Quickly and submit your Best Offer. Lowball offers almost never work in 2022 unless the house has sat for months without offers or is drastically overpriced compared to others currently on the market.
It stinks, but that's the way it is right now for Home Buyers.
Now if you're a Seller.... This is absolutely the best time to sell in ages... Top dollar and quick sales. Call or Text today to list your Mobile Home for Sale 302 258 4368