Home Buying in Santa Cruz>Question Details

Robert Ford, Home Buyer in San Luis Obispo, CA

Are there any mobile homes where the property is owned by the buyer instead of a rental situation? HOA would be fine.

Asked by Robert Ford, San Luis Obispo, CA Sat Jul 9, 2011

robertford444@gmail.com

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2
Hi There,

Yes, there are a few mobile home parks in which the owner owns the land under the coach or manufactured home. Usually these parks are far more expensive to buy into. And there are still monthly charges like HOA Dues at condo associations that are significant. However, these parks are "safe" in that the park can't raise rental space rates, sometimes at ridiculous rates, as they did in the infamous case of the DeAnza park in Santa Cruz. Taking the lead of DeAnza, there are now a few space rental parks that are trying to rid themselves of park residents so they can subdivide and profitably build new housing. And there is another "safe" kind of park, a "cooperator" where it costs to get in and then you have ownership of your space in the sense of having a small partial interest in the whole park. But, bank loans for "coops" are few and far between, as banks cannot foreclose on 1/30th, say, of a park.

I strongly suggest you find a "safe" park. It's the only way you can insure that the cost of living in the park is determined by you or by the agreement of the residents.

Steve Noren, Broker
Thunderbird Real Estate
snoren@got.net
0 votes Thank Flag Link Sun Mar 25, 2012
If you are 55 or over Montevalle in Scotts Valley has a nice community where you own the land and pay a nominal HOA monthly fee.

There are also a few coops.
Web Reference: http://www.terrivellios.com
0 votes Thank Flag Link Sun Jul 17, 2011
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