The bloggers

Pat Beall • About Pat

Alexandra Clough • About Alexandra

Jeff Ostrowski • About Jeff

Linda Rawls • About Linda

Categories

RSS Feeds

Latest Entries

Home > Real Estate > Archives > 2006 > November > 30

Thursday, November 30, 2006

Mobile-home millions?

By Jeff Ostrowski | Thursday, November 30, 2006, 06:12 PM

Here’s an intriguing investment strategy, courtesy of the Sellsius Real Estate Blog: Invest in waterfront mobile homes.

Exhibit A: Briny Breezes, Palm Beach County’s only oceanfront trailer park. Owners there are entertaining offers that value their properties at more than $1 million each.

Sellsius bashes Zillow.com (everyone’s favorite punching bag these days) for undervaluing Briny Breezes homes given the big offers on the table. According to Zillow, most of the Briny Breezes properties are worth less than $200,000 each.

But in Zillow’s defense, the highest sale in Briny Breezes was $290,000, according to Realestat.com. And nothing has sold in the town since July 2005.

And it’s worth noting that Cyberhomes, another online valuation tool, doesn’t even attempt to value Briny Breezes properties.

Permalink | Comments (98) | Post your comment |