Posted on 11/22/2011 8:41:51 AM PST by Kaslin
‘Up until 2008 FHA did insure financing of manufactureds on acreage.....Has that changed since?’
That sounds about the time this developer was forced to go to stick built, instead of manufactured homes. His manufactured homes were either on a basement, or on concrete piers, to frost depth. Quite suddenly, FHA quit approving loans.
Painting with a Wagner Power Painter after just leaving hell! Generalizing or should I have said experience?
Either way now am in a nice neighborhood with cultured people who smile and wave with all five fingers.
If houses are not selling, the place where the houses are located should be avoided. Move somewhere else. There are lots of places where houses are continuing to appreciate. these places are still good investments. Whining about living in a bad place is unseemly
HUD still loans on manufactured homes if the foundations meet their guidelines.
That’s very smart. Sometimes it pays to pay.
I agree completely, years ago I had a long discussion with a very snooty real estate lady who was lecturing on how “foolish” it is to buy a mobile home. When I told her that site built houses depreciate rather than appreciating as she claimed she looked at me as if I had fallen out of a tree. Thirty minutes later she admitted that I was right after all.
If a site built house ever does go up in value faster than inflation the gain is all in the land, not the actual house. No one will ever sell a house and lot for enough money to buy a comparable value lot and build back the same house on it new, therefore there is no real appreciation in the house, only depreciation.
She was comparing the depreciation on a mobile home bought new with furniture, drapes, wall hangings etc. included, with no land but with the cost of moving to a site and setup included against depreciation on a site built house PLUS LAND with no furniture etc. included in the price. To top it off she was talking about selling the mobile home without land so that the cost of moving it again is DEDUCTED from the price. I told her just how silly her comparison was and she asked me how else you could do it! Some people are beyond belief, apparently it never dawned on her that a mobile home could be set up on a purchased lot and resold lot and all. Some real estate expert she was.
Well, the other $18,000 is for spending money. She sounds like the kind of young lady who absolutely NEEDS several thousand a year for parties and new clothes. At the very least.
Mark this is true! This is why a lot of trailer parks now only allow double wides.
1. It looks like “real homes”
2. It keeps out white trash.
3. Senior citizens or “seasoned citizens” for those of you in Rio Linda are usually in bed by 9 pm so no cops called in the middle of the night to break up those wild drunken parties.
Yea I quite agree.
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