What Is Blue Book Value?

The Blue Book value of mobile homes is meant to serve as a vehicle appraisal service. Previously there were many books for this function. Today, one of the more definitive ones is the National Automobile Dealers Association or the NADA that has been publishing since 1933. The NADA Manufactured Housing Appraisal Guide had been identified by professionals to be more than useful to find out the value of a manufactured or mobile home.

Now, there are a variety of rating parameters that are used to estimate a mobile home’s Blue Book value. Firstly, there is model and size of home, then there is the age, and geographical location and the make. To knowing the Blue Book value is something that is quite useful if you are selling or even buying a mobile home. Most lenders would ask for the Blue Book value when one is taking a mortgage to purchase a home.

Even if you have the book at your disposal, it is still a good idea to get a professional appraisal. The formula for determining book value is actually complicated and a better opinion wouldn’t hurt much. The Book Value for mobile homes and areas that are considered average and low-quality can be easily determined while sometimes it just isn’t. One can also determine the value of your mobile home by purchasing such services from certain internet sites.

The NADA guides are also known as one of the prime providers of vehicle information to a majority of the nation’s leading banks, dealers, insurance companies, government agencies, credit unions, fleet and lease organizations, and financial institutions.

Entry Filed under: Manufactured Homes,mortgage programs