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

Jemom299
Home Buyer
Kinston, NC

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

Answers (2)
First Time
Home Buyer
North Carolina

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.

Tue Jun 9 2009, 16:05
Dana Schuster
Agent
70461
FIRST ANSWER

my information from local appraisers is that a mobile always depreciates like a car,although the land may appreciate considerably.

Sat Jun 6 2009, 16:12

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