Aprox value of a 25 year old trailor on half acre of land?

Question

I was wondering if anyone knows the approx value of a 25 year old trailor on a half acre of land, the reason I ask this is because I loaned my boyfriends mother 23,000 of my inheritance about 70% of it so she could pay off her trailor to buy a normal house. The original plan was to slightly fix it up and sell it to pay me back. Is it even possible to get close to that value? I'll be honest its a Dump and there has been no attempts to fix it up in over 2 years since that transaction happened. Guess I should kiss that money goodbye?

Answer 1

Not sure where you live, where I live 1/2 acre will go for maybe 80-$100 000 easily, more if its in a good area.  

Answer 2

any chance of getting planning permission on the land? i would have your b/f mum sign it over to me (assuming she owns it outright) and do the donkey work yourself of getting planning! ..they don't make land anymore, so its better to have .5acre than nothing to show for your 23k!!

good luck x

Answer 3

It depends on the trailer

It depends on the land

One size does not fit all.

Answer 4

I live in Michigan too. Honestly, I know she is your mother, but I would ask for the money back. The economy is so bad right now, mobile homes are starting at 5000. My friend fixed hers up and could only get 10000 for it. Since its on land she will get more but, man even houses are going for dirt cheap. I have looking to buy property and houses start at 20000, right now. Do your researcch before you give them money. You might never see it again

Answer 5

Don't kiss it goodbye yet and don't spend any money fixing the dump up.  It's tough enough to find financing for a trailer, an old, single wide dump will probably never get financed.  

The only value here is the land.  If it were me, I'd market it as a home site with utilities.  It's probably worth more if you take the trailer off.

If it is in a desirable area, I would think a half an acre would be worth $23,000.  I'd contact a Realtor and ask what the land value is.

Answer 6

I started not to answer this because the answer will be unpleasant...but I came back because..well, if I were you I would at least like to know the truth.

What ever the value of the land is, subtract from that the cost to remove the trailer and get it ready for someone else to build on it, and subtract whatever it would take to fill in the hole.

That would be the value to use in any calculations.  No one could tell you what the value of the land is without being very familiar with that area.

Answer 7

Location, location, location... as they always say. I live in Florida, the land of mobile homes, and many are very, very nice. Prices have dropped drastically.

I doubt that it would bring much. Probably only the value of the land, and that probably isn't much. I understand MI is very depressed at this time, and even nice homes aren't selling well.

Don't ever loan money unless you can afford to lose it. Remember that always, for everyone!!! (Including your own family!) I'm sorry, but it sounds like your $$$ is gone. Very sad. It's an expensive lesson to learn.

Answer 8

If she didn't have the money to pay the trailer off and buy a normal house, I don't think she will have the money to make her house payments now and fix the trailer up.

Most locals don't allow a trailer to come in after they are 5-10 years old because they have little or no value.

If she had the money and fixed it up, she might be able to squeeze $23,000 out of someone, but it would probably cost that much to make it livable anyway.

I would say that you were screwed royally my friend.

Most areas that allow mobile homes are low priced properties and not worth much more than $3,000-$5,000 per acre, but you might be able to get more, depending on what the property value is where this home is.

Answer 9

Well, my parents have a nearly 40 year old furnished single wide trailer with an A frame on a quarter acre listed for $75K right now, but its in an highly desirable vacation/tourist area just outside Yellowstone.  And really, the land is probably worth over 90% of the sales price.  So unless she can sell the land for a good price--and is willing to do so--you're probably not going to see the money again unless you sue her.