Home Buying in Kinston>Question Details

Jemom299, Home Buyer in Kinston, NC

If a doublewide is on brick foundation and FHA approved (and not in a trailer park)...would the property?

Asked by Jemom299, Kinston, NC Sat Jun 6, 2009

value decrease over time, remain fairly constant or appreciate similar to a house?

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my information from local appraisers is that a mobile always depreciates like a car,although the land may appreciate considerably.
1 vote Thank Flag Link Sat Jun 6, 2009
I've come across the same: that double-wides depreciate in value. Consider that many lenders (including those that work with FHA mortgages) will not even loan on an older mobile home, even if many improvements have been made and it's permanently fixed on a great piece of land. Once a mobile home, always a mobile home? At least in the current economy, it's getting more and more difficult for lenders to close on re-sell mobile homes.
0 votes Thank Flag Link Tue Jun 9, 2009
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