Hi all. My wife and I are looking to buy a new home on leased land in one of the several communities in Sunnyvale, CA. We've pretty much decided on going with either Karsten or Advantage Homes and we were wondering if anyone has an opinion/experience with either homebuilder? On another note, with short term interest rates coming down does anyone see chattel mortgage rates coming down as well?
Just in case anyone was interested, the "affordable" housing option of a manufactured home will run you at least $120/sq.ft. at current asking prices here in NorCal.
The home's the same, the rights to build on a community site are way off kilter. Still, it's better than what 30 year old stick built homes are going for ($700K+).
Looking for a little California help
Re: Looking for a little California help
I think they are both pretty good ...remember I am in the East and have never seen either...But I have read a lot about each..
I just looked at the web sites...Karsten seems to have it all...The only upgrade that would look nice is a higher pitch roof...5x12 would be nice...
From what I see on the Advantage web site is that they are a dealer..NOT a manufacturer..They handle homes from Champion Homes, Fleetwood, Golden West ,Palm Harbor, Silvercrest and Skyline..Each of these lines are different homes with different specs and different warranties...I would suggest a visit to the book store here and invest in the books by Grissim..His personal experience is in your area. They will have info about all of these and others that might be in your area..Sorry your messages were not immediately posted..
The rates you see the fed lowering are the rates for short term overnight loans between banks...Chattel mortgages are for long term and relate better to the 10 year T-bill rate...Usually the short term rate will fluctuate faster than the long term rate...Rates are as low as they have been in the last 10 years...Time to buy is now...Shop for the money as much or more than you would for a home..Jus remember that your future resale will be totally related to the community and its reputation and location....
These forums are moderated to filter out spam..Most messages are live with in 24 hours, often quicker. I deleted your duplicate posts. Come here often. Use the search function on these boards to searech thousands of posts over a number of years..The more info you have..the smother this process will be..Good Luck
I just looked at the web sites...Karsten seems to have it all...The only upgrade that would look nice is a higher pitch roof...5x12 would be nice...
From what I see on the Advantage web site is that they are a dealer..NOT a manufacturer..They handle homes from Champion Homes, Fleetwood, Golden West ,Palm Harbor, Silvercrest and Skyline..Each of these lines are different homes with different specs and different warranties...I would suggest a visit to the book store here and invest in the books by Grissim..His personal experience is in your area. They will have info about all of these and others that might be in your area..Sorry your messages were not immediately posted..
The rates you see the fed lowering are the rates for short term overnight loans between banks...Chattel mortgages are for long term and relate better to the 10 year T-bill rate...Usually the short term rate will fluctuate faster than the long term rate...Rates are as low as they have been in the last 10 years...Time to buy is now...Shop for the money as much or more than you would for a home..Jus remember that your future resale will be totally related to the community and its reputation and location....
These forums are moderated to filter out spam..Most messages are live with in 24 hours, often quicker. I deleted your duplicate posts. Come here often. Use the search function on these boards to searech thousands of posts over a number of years..The more info you have..the smother this process will be..Good Luck
Re: Looking for a little California help
Sorry about the duplicate posts. Wasn't sure if I was clicking on the right buttons. And thank you much for the insight into the interest rates. It is tough to swallow those chattel interest rates but I suppose it's even tougher to swallow the price of stick built homes here in California.
In any case my wife's and my choice has come down to a 2007, already on site fairly bare bones Golden West, a 2002 fairly upgraded Silvercrest or a soon-to-be vacant lot on which we'd customize a new Silvercrest with a good number of upgrades. All three are three bed/2 baths and all three are in the same land-lease community in Sunnyvale (they're actually all near each other on the same road). Mr. Grissim's guide has both Golden West and Silvercrest highly rated so homebuilder reputation isn't as much a worry. Our real concerns now are twofold. First, given that the 2002 we're looking at is in tip-top shape, can anyone say whether or not the build quality of a new 2007 will be appreciably better than the 2002? Has Silvercrest improved a lot as a homebuilder in that time?
Our second question is a little more general. If our timeframe on potentially moving out of the community is five years, does it make financial sense to pay the premium for the new home or should we save some money with the 2002? In other words, will a 2002 and a 2007 be roughly the same value in 2012 all other things being equal? It's a tough question I know but any insight would be very much appreciated. Mr. Grissim's two books and his 2008 outlook have been very helpful but unfortunately we have specific questions that I'm afraid could only be answered in a forum of experienced homeowners.
In any case my wife's and my choice has come down to a 2007, already on site fairly bare bones Golden West, a 2002 fairly upgraded Silvercrest or a soon-to-be vacant lot on which we'd customize a new Silvercrest with a good number of upgrades. All three are three bed/2 baths and all three are in the same land-lease community in Sunnyvale (they're actually all near each other on the same road). Mr. Grissim's guide has both Golden West and Silvercrest highly rated so homebuilder reputation isn't as much a worry. Our real concerns now are twofold. First, given that the 2002 we're looking at is in tip-top shape, can anyone say whether or not the build quality of a new 2007 will be appreciably better than the 2002? Has Silvercrest improved a lot as a homebuilder in that time?
Our second question is a little more general. If our timeframe on potentially moving out of the community is five years, does it make financial sense to pay the premium for the new home or should we save some money with the 2002? In other words, will a 2002 and a 2007 be roughly the same value in 2012 all other things being equal? It's a tough question I know but any insight would be very much appreciated. Mr. Grissim's two books and his 2008 outlook have been very helpful but unfortunately we have specific questions that I'm afraid could only be answered in a forum of experienced homeowners.
Re: Looking for a little California help
You are being very thoughtful.....The point about resale in such a short time is smart...A 2002 Silvercrest should still be a very good home...Golden West has changed ownership for the 3rd time in the last 10 years..It is now owned by the largest in the industry, Clayton Homes..
You are right to surmise that 2 similar homes in the same park with equally desirable spaces will equalize in value over time..Since resale will be mostly dependent on the park and condition...
If you move forward on the used home, you should invest in a proper professional home inspection as you would with any other type of home and even a nice used car. This will give you insights into any hidden defects that will need attention.
Check with the lender section of this web site for some of the best rates in the industry..Just remember the more you put down, the higher your credit score and shorter the terms the lower the rates..Many national lenders have lower rates in "5 star" parks. Shop the rates as much as the house..
Good Luck
You are right to surmise that 2 similar homes in the same park with equally desirable spaces will equalize in value over time..Since resale will be mostly dependent on the park and condition...
If you move forward on the used home, you should invest in a proper professional home inspection as you would with any other type of home and even a nice used car. This will give you insights into any hidden defects that will need attention.
Check with the lender section of this web site for some of the best rates in the industry..Just remember the more you put down, the higher your credit score and shorter the terms the lower the rates..Many national lenders have lower rates in "5 star" parks. Shop the rates as much as the house..
Good Luck
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