Manufactured Housing

[rfporzio]

I'd like to know why more emphasis is not put on manufactured housing as a viable alternative to site built homes. I have not yet seen a documentary done on any of the home channels supporting this great housing alternative. I'm like the poster child of manufactured housing in my area. As people visit me and tell me how impressed they are with my home, I never shy away from telling them it is a factory built double wide. I know many people will hop on this site and possibly could get scared away from the option. I can't stress more strongly not to dismiss the option based on a few experiences that you might read about on this site or you might hear on the street. Unfortunately we can't reach many of the potential home buyers here on this site. I feel more positive marketing needs to be accomplished to realize this great housing option to many people whom other wise could not afford to own their first home. If you've read the books, and my positive attitude toward this housing option, I applaud you, but how do we reach the rest of the population. If you are currently an owner of a factory built home,spread the word as much as you can, you just might turn someone on that had possibly never even considered it an option.

[rmurray]

Well said...Send a copy to MHI...let us know what kind of reply you get...


Manufactured Housing Institute
2101 Wilson Blvd., Suite 610
Arlington, VA 22201-3062
Tel: (703) 558-0400
Fax: (703) 558-0401
[email protected]

[rfporzio]

Consider it done. And thanks from all of us, your contributions to this site. You should realize you made a difference to many who were probably on the fence in making their home buying decision.

Thanks Bob

[John]

Hi folks. Just let me say that we have been looking at MH for some time and didn't know squat about them until we stumbled onto this site. Man what a help it has been.(And we have just been reading, haven't got to asking questions yet). Keep up the great work.........

[rmurray]

Welcome aboard...Glad you have been reading...the search function on these boards can give you access to hundreds of previous posts..

Check out the bookstore here as well...Information is the key to being a happy customer..

Good Luck...just remember the only dumb question is the one you do not ask..

[Carl H.]

We just bought a triple wide in Coquina Crossing (St. Augustine, FL) recently and did so on the basis of claims of its wind resistance capabilities and after seeing the tie down system used....that and i'ts eye appeal. And moved in during the hurricane season in September last.
One of our officers who keeps track of the happenings in other parks indicated that the devastation from hurricanes was very largely done to homes built before 1994; mostly singlewides and those without comprehensive tie down systems. If this is true, a great, documentalbe story awaits anyone willing to analyse the damage done in Southwest Florida and publish facts on the safety of the NEWER manufactured homes.
Incidentally, we had 40 to 60 mph winds here in September and there was very little damage, just a few newly planted trees blown akimbo.

[rmurray]

Here you go Carl....There is now a NEW web site devoted to just this topic...

Go here for info about homes in the recent hurricanes..

www.BuiltStronger.com

The gist of the info is that after visiting tens thousands of home sites..the conclusion is that there were NO deaths and vertually NO substancial damage to a modern manufactured home..

[Doug Little]

I bought a triple wide mobile home about a year + ago in Southern California. While I love my home I wish I had taken the time to research the industry more fully as this was not a good investment. The coach resides in a mobile home park on a leased lot. There are approximately 240 coaches.

My main problem with the purchase is how the lending institutions view mobile home ownership. The best rate I could get for the original purchase was 8% from Chase Bank and I had to pay a buy down for that to the tune of $3,600. I didn't think much about it as I figured I could refi later as my credit is really good (about 780). WRONG!

The lending institutions (even the VA) won't talk to me for the following reasons:

Your mobile home is too old (1979).
You do not own the land.
Your mobile home is not permanently affixed to the foundation (illegal in Calif because of earthquakes).

Or they will charge me an outrageous interest rate.

So, the only way I'm going to get my money out of this box is to sell, but then what could I buy? The average stick home for the same size as my mobile home (1700 sq. ft.) would cost $350,000 (and it would be a "fixer - upper").

And to make things even worse, the land management company raises the lot rent 2% every year (something that was not disclosed to me during the purchase).

I have considered looking for a lot to put the MH on, but found out that the county I live in will not approve a permit to do so.

So would I do this again? Definitely NOT!

Doug

[Bill Fry]

A lot of that is due to to the age of the home..All though MF homes that are bought and placed on rented lots always lose value(for the most part) a 1979 isn't going to worth much whatever you paid for it.On the east coast a 1979 is virtually worthless
sold by itself.On the west coast things are different,however banks aren't to hot on lending money on something that isnt going to return any value.If you could buy a stick built but not the land it wouldn't be worth much in 25 years either.The primary reason people buy MF homes and place them in parks is because its cheaper then
buying land with it.You pay the price down the road when you want to sell it or refinace it though.If you arent going to stay in it sell it and put what you get for it as a down payment on something or type of housing.
I agree with you,don't but a 25 year old MF home in a park.Its pretty much a no win thing.

[David Oxhandler]

I don't agree with you Bill. Older homes here in the east are not worthless. Mid 70s single wides that are set in parks on the ocean in south Florida sell for very high prices, along with high monthly lot rental costs. These parks have waiting lists of people that hope to buy.

The value of a MH is based on the 2 prime factors that determine the value of all structures. Location and condition.