Land home combination

[Nathan Tart]

I am purchasing a beautiful 1 acre lot outside erwin North Carolina....
My intention is to purchase a MFG home and have it on a perminant foundation.
I still am wondering if this combination will appreciate enough that i will not loose mony down the road.
Is the land home situation simular to that of a site built home if the MFg home
is perminant on the fixed foundation?
I would appreciate any honest answers to this question via direct email...
Also I intend to purchase from Glover Sales in Erwin, NC......all I have heard about this dealer is good and he seems to be listed as good in most of the right places...
Does anyone have any direct knowledge of this dealer.

[Peggy]

Go back to the First Time Home-Buyers forum and read "Atlanta's" response on 6-23-02 concerning depreciation and the real estate listings. That ought to put your mind at ease.

[rmurray]

If your location is good and desireable....like stick builts..appreciation will be the same..

You need to move along...Mortgage rate were at a 42 year low last week...My guess is they will stay that way until Nov. elections...then look out..

[Peggy]

Why do you say that about "after the November elections"? I was just talking to somebody today who said that he thought once the elections were over, we'd see the government finally admitting just how bad the economy really is. And if that is the case, it seems like the interest rates should either hold steady at what they are now or fall even further. I'm curious as to why you think the interest rates will go up, and of course, I realize that nobody can say with certainty but I'd like your take on the situation.

[rmurray]

It is just from my experience...sometimes rates are help down prior to the election and then let to float soon after...

Almost every election I can think of has had increases soon after...

Wish I knew for sure...I would be in NY and rich by Christmas..

Remember...long term rates are effected by different things than the Fed rate that is so widly mentioned in the press...If the government goes back to the long term bond market to borrow money...mortgage rates will rise...supply and demand...

[Jon]

Nathan:
I agree with Murray: The location and desirability of your property will play key roles in the appreciation of your home.
Also, make sure your home has the classic features that seem to always be in demand---a good floor plan with adequate natural light, properly designed kitchen, at least two (preferably three) large bedrooms, at least two bathrooms, and plenty of closet and cabinet space.
A good rule of thumb: The more desirable the property, the better the rate of appreciation. Good luck.