orange county parks

[kevin o'brien]

My wife and I are pricing MH's in the O.C. area. We currently live and work in Huntington Beach and would like to stay here. The process of buying a MH is, to be sure, more complicated than simply finding a lender and a dealer. The crunch of growth around here extends into the MH sector as well. Increasing rents, lack of space in parks and so forth. My gut feeling at this time, given the popularity of the HB area, would be to buy and locate wherever best possible and trust that the depreciation associated with land-lease parks would not be applicable to this area.

This will be our first home and we simply cannot afford to buy a stick-bilt and the thought of commuting from the Inland Empire is out of the question.

Can anyone recommend some family parks in the OC area? The 5 Star dealer in Stanton (nice Skyline homes, considerate, knowledgable salesman) suggested a new park in Laguna Hills (lLaguna Hills Estates) and another in Anaheim Hills.
Both of these had space openings. Another option in HB would involve purchasing a older home and moving it to obtain the space (adding $30K to our price.)

Thanks for your help and really find this site full of good advice.

Kevin O'Brien

[Sandy]

I don't actually know the name of this park but our MH dealer (Superior Manufactured Housing) is located on Brookhurst in HB and everytime we went to that office we passed a really big and very nice looking park. We would get off the 405S at Brookhurst and head south about 3-4 miles. The park was on the right hand side.

[kevin]

Sandy,

I believe the park you're referring to is Brookfield Manor & also, next door, Rancho Huntington. Both are Senior Parks.

I met with a banker today. My understanding of their (Wash.Mutual) postion was that if it's not going to be 'real property' they will not fund a mortgage. She also told me that FHA will say the same thing - no MHLL funding. (How the heck do all these MH's get funded? )

I'll head back to the dealer and see where he would fund it from and begin the unraveling of the funding, park placement, park 'packages' and so on. Being first time buyers we're anxious but far from up to speed on this whole buying process.

Thanks,

KOB

[Sandy]

Our loan was through Chase Manhatten which specifically fiances MH loans. Our interest rate is 10.25 % because it is considered personal property and not real estate. Our dealer got us the park, the loan and everything else without us having to search. Ask your dealer if their office does the fiancing. We didnt know going into it that regular banks won't fo MH loans.