college grad just wanting a home!

[ann]

Hello,
I am so glad I found this website!!!! I too am so frustrated with this real estate market here in Northern CA. I moved here b'cause I got a great paying job (in San Jose) and now with a Master's degree under my belt and a history of paying taxes for 27 years- I know now in this state---fewer of us college grads can afford homes now! I am trying to convince my mother to give me money for a down payment for a mobile home and she insists it is a BAD investment and thinks I can afford a condo (which I cannot---looked around and thats $2300 a month--not including property taxes.) I left San Diego b'cause they have horrible working conditions down there---expecting people to work 50-70 hour weeks and then not pay for overtime and pay you in peanut wages-and the rents keep going up and house prices obviously.! How can I convince my mom its a good investment??Does anyone know of any newsbulletins etc. websites that show the crazy economy up here and how mobile homes may be a good investment etc.
Thanks,
Ann

[David Oxhandler]

You will find some assistance in John Grissim's Buyer's Guide. John and his wife are Northern California refugees who moved to Washington, bought land and put a new high end manufactured home on it. Share his adventures and observations with Mom and you will get your point across The book is now available at the Manufactured Housing Book Store in both the original hardbound print edition and the newly released E-Book Edition. This great resource has taught thousands of MH Shoppers just how the manufactured home industry operates. It will also show you how to to find a dealer worthy of your trust and how to make the right housing selection.

[Art]

Ann,

Just go to realtor.com and take a look at the MH prices. You will see that even older ones in the Bay Area have a large price tag on them. Just a couple of years ago a friend of mine purchased a MH in a park in the Pittsbugh, CA area and he paid over $70K for a 1977 model.

California is one of the few areas in the US where no matter the location of the MH, it appreciates. I lived in a MH (on my own land) in Lake County and in just 3 years it apprecaited over $75K. (I just sold it last month and moved to Idaho).

I would say go for it and enjoy.

Art

[Nancy]

The key is owning the land the mfg home sits on, except if you're in one of the beach mfg home communities. Then it's irrelevant. A short time ago the Sunday LA Times Real Estate section had as front page news a mfg home (sans land) that sold for $1 MILLION Dollars!!!!!! It wasn't huge either.

[ann]

Thanks for the response........but where I live (San Jose).....all the parks have space rented spaces.....and there really isnt any reasonably priced land around here. I'd end up spending lots of bucks to purchase land here then put a moble home on it---all which the cost is prohibitive for me..I'll just have to wait and see or just save money for a big down payment.
Ann