Yep, NADA used to be a good reference for our homes Mark! I didn't mention it for the simple reason that the housing market is going crazy right now!
Right now, so many people had ARM mortgages, got them in a nice stick built quick and easy, they're now drowning in debt!
In my area, mobiles are still holding their own also. Simple math there! We're also the only part of the county that will not be annexed into either city, Reno or Sparks! Taxes are lower, it's still 10 to 15 minutes to downtown in either city. Actually for me, it's prime real estate! Folks that had $500k homes are now discovering mobile home living out here! It's either that, or if they have no equity, they are now looking for rentals. It's a sink or swim market for those with ARM's!
NADA will tell you what your home is worth according the average market across the country. Still, the best bang for your buck is to research the housing in your area. It really varies right now. Like Mark said, you could possibly walk away with much more than you paid for it! It all depends on how much work you want to do, your area, and the condition of your home.
Maureen
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Never discourage anyone...who continually makes progress, no matter how slow.
'Plato'