North Portland Harbor

How Do Agents Price a Floating Home?

What is the floating home pricing strategy used by listing agents or sellers? The prospect of correctly pricing a floating home is kind of complicated because, as you might have noticed when you look at listings, no two floating homes are alike. And what’s more, the location and the moorage are part of the floating home pricing strategy. It’s really useful if the real estate broker is experienced in selling floating homes. Why? Because of their experience with buyers in the market and with seeing the appraisal value of their other listings that have sold. 

What to consider in floating home pricing strategy

Of course, the house itself is the first part of the combination. Price per square foot doesn’t work as the only thing to consider because every home is different; the age of the house, the floor plan (open concept or reverse living or traditional), whether or not it needs updating. Are the finishes current? Like glass tile, granite counters, stainless appliances, type of flooring and siding material. All of the charm and appeal of the floating home is part of the equation. Float condition is also part of the decision. Location is really important, just like in other property pricing. The moorage location in the city, whether it is on Multnomah Channel or Hayden Island or Downtown is a critical choice for most buyers. But also, the location within the moorage is part of the pricing dilemma. How far from the ramp is the house? What is the view from the deck? How well maintained are the surrounding properties and the moorage? Is the parking lot gated or is parking on the street? Is a garage available? (remember that only a small handful of moorages have garages). Does the moorage offer slip ownership, otherwise known as fractional ownership in the moorage? The amount of available inventory also affects pricing.  Past sales of floating homes that are ‘similar’ also impact floating home pricing strategy. But the most important factor influencing floating home pricing strategy is knowledge of the BUYERS in the market. The buyer who wants to move to the water lifestyle puts a value on the lifestyle they want. Of course, they want a desirable home but they also put a value on the monthly fee (less with ownership) and on the cost of available purchase funds.

DCIM100MEDIADJI_0580.JPG