Have a MH in a mobile home park

[Shelley]

I bought a manufactured home from Advantage in 2002. I live in a mobile home park and rent the land. I am now feeling distinctly panicked at the possibility of ever selling it and getting anything close to what I paid for it. My next door neighbor foreclosed on her house. I heard she was asking too much for it, but even so, I have read that manufactured homes on rented land in parks are nearly impossible to sell, especially in Silicon Valley, where I live.

I am not looking to immediately sell, but I hope to sometime in the next couple of years. The expense of Silicon Valley is getting too much for me.

Please, someone tell me some good news, or at least give me advice!

[rmurray]

You are in one of the areas that increases in price can happen....All resale opportunities are location related...often resales can be influenced by market prices of other types of housing...The cost of apartments..cost of condos..older stick built homes..all influence the resale possibilities in your case...

Do not wait until you are behind in payments to try to sell the home...do not expect to sell in a matter of a few days or weeks...this is a formula for forclosure...

Understand that his is a home...to get top market price..it will take time...this is a house..and will take time to sell like a house...

One of the things I see often..are inexperienced sellers trying to sell to inexperienced buyers...this leads to tough sales...get up to speed about your home...most important..get up to speed about finance..be able to refer your potential buyers to a finance source that specializes in manufactured homes..

Quality buyers want to move in and live...they DO NOT want to start out with extensive repairs of updating...be sure your home is perfect when the time comes to sell...fix the little things..keep it clean..replace any wore items..Make your home a valid alternative to new homes in the area...Think about your self...why did you buy new instead of used...

There are insurance companies that offer warranties on used homes..get up to speed so that you can offer one with your home..

This web site is a wealth of info to help you when the time comes..Remember...dealers are reselling used homes at or above original sales prices everyday..They get the high prices because they are professional..

Good Luck

[Shelley]

Thank you, rmurray, for your advice and encouraging words.