1. Almost no financing is available on these
2. Because there is almost no financing it is really hard to sell them.
3. Therefore there are some real bargains available.
4. Don't buy one unless you get the bargain and then you should think twice about it.
Cased in point:
Back in the 90's it was popular for investors to buy up mobile home parks in Orange County and triple the rental rates. It is not happening as much now but it is still happening. And with inflation they are back in position to be able to do this again.What these investors know is that there really is not much you can do about it when they do that.
So you could be buying mobile home thinking your rent payment is $900 a month. Someone could buy the park and send you a notice that it is now $2000 a month. Your only options are to walk or pay, no one wants to buy it with that space rent and you really can not move it. If you walk the sharks end up with your mobile home and they rent it for the $2000 a month you did not want to pay. If you stay the park gets filled up with renters.
They really need to pass regulation that says that there has to be some kind of advance agreements as to how and when rent increases would take effect. But that does not exist right now.
Further more. Why buy a mobile home when for the same money you can have a house or a condo?
Give me a call, I will pre-qualify you for a house or condo, so you can compare buying something without the risk outlined above.
There is a website that list manufactured/mobile homes for sale
It is called mobile home village website is http://www.mhvillage.com. They are listed here and with the MLS
I do help buyers find a home and there re a couple of questions to ask
- How much and you qualified for?
- Have you spoken to a mobile home lender?
- What is the max amount you want to spend to buy a place?
- What is the max amount you want to spend for the space rent? Say under $1,000 per month?
Talk to you soon
Ingrid Ski Realtor
Mobile home living in Orange County can get very pricey. Lot space rents are around $600 on the low end, every month, forever. Also, they'll go up over time. Keep an eye on that. Huntington by the Sea lot spaces were about $650 10 years ago, now the spaces are $1600 per mo. You also cannot move your mobile home after it reaches a certain age, so it can be difficult to move your home in the future.
There are, currently, five manufactured homes actively listed in Costa Mesa ranging in price from $35,000 to $99,900.
What are your specific needs and, if you give me an email address, I can send you a list of those that fit as well as some in the surrounding area.
Tim Kunze, RealtorÂ®
Focusing on ... YOU!!!
Second as I've preveiously stated, if there is no City mandated rent control in place most park/community owner/managers will adjust their rents to the CPI which tends to be largely predicated on inflation or park improvements.
Park owners today are will aware of just how much and at what incriments they can raise rents. What you really need to do is speak directly with the park/community management personally and find out what their written lease agreements stipulate regarding rental increases.
You should also speak with a MH professional i.e. a MH Dealer or RE broker/agent who specializes in MH's. Your first indication of a non MH professional are those who still refer to them as trailers or mobile homes if they were built after June 15, 1976.
Or they tell you that they are a losing proposition and that you're wasting your money. There are a lot of very nice MH communities that are will managed and maintained. So if that's your desire or that's the lifestyle you choose don't let anyone talk you out of it.
BTW they're only called "Mobile Homes" if they were built before June 15, 1976. Since then they've been called "Manufactured" or "Modular" homes. Folks that know very little or nothing about this industry still tend to refer to them "Mobile Homes" and really unsophisticated and ill informed RE Professionals refer to them as "Trailers" LOL!
760 815-6977 Or email me at email@example.com
Be sure to have it thoroughly inspected by an experienced MH inspector and not just any home inspector as there are several nuances with MHs that you don't have in a conventional site-built home and most home inspectors not familiar with these nuances will not even know what to look for.
Make sure the inspector crawls under the home and thoroughly inspects each and every pier and pad assembly for rust, deterioration and decomposition if steel and for decomposition if concrete as homes close to the ocean can be severely impacted by salt.
They should also make sure the home is level by checking all the doors and windows to make sure that they are not swinging or sticking and that all the strike plates on the doors are properly aligned and the doors close soundly.
The inspector should also inspect the steel mainframe for rust and decomposition as well. I can't tell you how many mainframes we've had to repair that were suffering and in some cases even failing from rust and deterioration related issues.
Be sure and have the inspector check for rips and tears in the vapor barrier under the floor. If there are openings in this membrane it could allow the insulation under the floor to become compromised and even fall on the ground.
Openings in the vapor barrier are also a great place for rodents and cats to habitate and reproduce. We've eradicated countless critters from these cavities over the years and it's not a very pleasant experience.
Finally and very importantly make sure the home has a California State Housing and Community Development Department (HCD) certified earthquake resistant bracing system (ERBS) as most areas in California are classified as a Zone 4 earthquake area which holds a high probability of risk for a seismic event..
We are a California licensed and experienced manufactured home and general contractor and manufactured home dealer, developer and real estate brokerage with decades of experience in the MH industry.
Please feel free to contact us anytime at 800 909-1110; cell: 760 815-6977. Or email us at firstname.lastname@example.org.
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