Home Buying in 95148>Question Details

Katy, Home Buyer in 95148

why do people not want to buy mobile homes?

Asked by Katy, 95148 Mon May 28, 2012

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Answers

93
In 25 plus years in this business I have never seen a manufactured home not attached to real property home increase in value. Ever. Maybe there are some parks or areas where the units hold their value or see an increase, but not that I’ve ever seen. If I maintained my 1970 Buick Skylark in pristine condition it would undoubtedly be worth more now that I paid for it. Of course that would be because it has value as a collectable, and because cars today costs over $20,000 and I only paid $1,000 for the Buick in 1977 with 60,000 miles on it.

As for the DMV tags, yes they do need to have motor vehicle tags – at least in California. While they are being transported they must be licensed to be on public roads. It’s got nothing to do with what standards they are built to; it has to do with the fact that they are trailers while they are being moved. I can’t speak for the rest of the country; there may be some states that allow unlicensed trailers on their roads.
7 votes Thank Flag Link Wed May 30, 2012
i know is an old post, but look at selling price at sunnyvale, ca 94089
Flag Thu Oct 8, 2015
i know is an old post, but look for price of mobile homes in zip code 94089
Flag Thu Oct 8, 2015
Angela Lazrovich,
your so right about that!
Did you know that there are many advantages to buying a manufactured home, first of all you will be able to design your own home to your needs and satisfaction. When it comes to floor covering, vaulted ceilings, the design of your bathrooms, bedrooms, granite countertops, fireplaces, your outside porch scenery and not to mention your kitchen with stainless steel appliances.
Secondly when it comes to the comparison of manufactured homes and site-built homes, they both use the same building materials in the construction phases and the cost is lower. Construction costs per square foot are anywhere from 10 to 35% less than a site-built home.
Check out this website to observe for yourself!: http://www.titanfactorydirect.com/OurHomes/newhomes.aspx
Flag Wed Feb 25, 2015
I think that purchasing a mobile home is a very good option . They can be purchased at way lower costs than a house. I have walked into many modular homes that had more style and custom designer touches than homes at again a fraction of the cost. The only thing with modular homes is they depreciate over time versus a house appreciates in a normal healthy market.
Flag Wed Feb 26, 2014
I am one, (trailer trash) and my home is worth @ 1M on the market here with @ 100 Acres! Not to bad for a 'trailer trash, hick from the sticks, huh?) I am retired with a teamster union boss pension of $7000 a month and + SSA. So I don't mind being called TT. I laugh my ass off all the way to the bank! This property has appreciated every month since I bought it 10 years ago.
Flag Sun Dec 29, 2013
They don't want to be known as "Trailer Trash" Ha-Ha!!
Flag Sun Dec 29, 2013
Perception primarily. Mobile homes have received a bad reputation due to the poor workmanship qualities of the past. No longer called mobile homes, the manufactured homes of today are built very much like a site built home. 2 x 6 or 2 x 8 construction, open floor plans, vaulted ceilings, all tape and texture, skylights, well insulated, etc . You can even get stucco exteriors.
The upscale park living with resort style amenities are very desirable to retirees. Activities and knowing your neighbors is an added bonus.
Now, they are a good option for the right circumstance. Like builders you want to pick the right manufacturer with good workmanship and warranties. I sell many of them in 55+ communities.
For the price, they can be a great way to go. check out my website at: http://www.cardinalarizonahomesales.com to see some examples of homes in parks in our area.
I am both a licensed REALTOR and a manufactured home Broker and sell both site built and manufactured. There are pros and cons to both.
5 votes Thank Flag Link Sat Jun 2, 2012
There are many advantages to buying a manufactured home, first of all you will be able to design your own home to your needs and satisfaction. When it comes to floor covering, vaulted ceilings, the design of your bathrooms, bedrooms, granite countertops, fireplaces, your outside porch scenery and not to mention your kitchen with stainless steel appliances.
Secondly when it comes to the comparison of manufactured homes and site-built homes, they both use the same building materials in the construction phases and the cost is lower. Construction costs per square foot are anywhere from 10 to 35% less than a site-built home.

Check out this website link to see just how upgraded you can get!:
http://www.titanfactorydirect.com/OurHomes/newhomes.aspx
Flag Wed Feb 25, 2015
Cape Cod, if you're talking to me the MH market in San Diego is pretty vigorous right now. Especially in upscale resident owned MH communities or in all MH communities close to the beach
Flag Fri Feb 21, 2014
Thanks for the great response Lois! I've been performing mobile and manufactured home inspections in the southern California area since 1987 and in many ways they're the same as conventional homes. If you let them go and do not maintain and upgrade they'll loose value just line conventional homes. However, if you have a good maintenance program and continually upgrade as you would with a conventional home the value will go up. http://www.MobileHomeInspectors.com
Flag Fri Jan 3, 2014
It's refreshing to read some sound logic from the lips of those who know. I get so frustrated and impatient with so called RE professionals who come up with all kinds of ridiculous opinions on a subject they know nothing about. Great comment.

Here's a link to a question I just asked I sure wish you'd take a few moments to add some of you refreshing logic to it. BTW, we love Bullhead City. Thanks.

http://=www.trulia.com%2Fvoices%2FHome_Buying%2FWhy_Do_RE_Professionals_Continually_Try_To_Talk_Bu-589909" target="_blank" rel="nofollow">http://www.trulia.com/voices/Home_Buying/Why_Do_RE_Professionals_Continually_Try_To_Talk_Bu-589909?ecampaign=agt_rlt_voicesanswer_bk&eurl http://=www.trulia.com%2Fvoices%2FHome_Buying%2FWhy_Do_RE_Professionals_Continually_Try_To_Talk_Bu-589909
Flag Sat Oct 26, 2013
Nice post. How is your market?
Flag Fri May 24, 2013
Katy,

Excellent information from John Arendsen except for the part that was taken out of context from my response. As is clear from my response, I was speaking of the difficulty of siting a manufactured home in the San Francisco Bay Area which includes the 94518 zip code of San Jose. Lots or acreage upon which you can set a manufactured home will be extremely difficult to find in urban areas. Sites in parks are also scarce. Manufactured home dealers have been known to buy up older homes in parks and haul them away to make space to locate a new home which can then be sold to a new owner.

As you get away from the urban areas, it is easier to find a location where you can put a factory built home, but stick-built homes are also less expensive as you get away from the urban area and job centers.
3 votes Thank Flag Link Tue May 29, 2012
You should look into modular homes. Check this site out for more information. http://www.settstudio.com. They are pre fabricated, modern modular homes that would be welcome in ANY zip code.
Flag Fri Mar 13, 2015
All great answers. One more reason mobile homes aren't the first choice for people is resale.

As mentioned space rent goes up, most of the time every year (~3%). If you are to buy a mobile home to save for a residential, sell it before the space rent is considered high for the area. All this is happening as the mobile home depreciates and ages. And when they hit a certain age, financing is almost impossible.

Lets say you are ready to sell your mobile with ideal space rent and for a good price. The buyers have to be approved by the park... NOT as easy as one may think.

Thuan
3 votes Thank Flag Link Tue May 29, 2012
I've been "fixing" my 20 yr old home up just because newer amenities come over the years, but in taking walls down, they're not quite 2x4's, although the exterior walls are. In Northern IL, the Pk I reside in, there are always 15+ homes for sale, and sadly most are practically given away. Reason? Usually the lease, since the rent is reasonable, going up $25.00 a year -year after year.
Flag Tue May 19, 2015
It's not that people don't want to buy a mobile home, it's that the majority of people don't want to buy a mobile home. Here are my responses:

* There is a stigma associated that some people consider them to be "low class" BTW I live in one and I love where I live. I have a garage and fenced yard. And some people will not buy - period.
* They are made of lower quality material. This is true for older models. They were built so that they could be transported easily, this being keeping it's weight lower. The reality is that I don't know of anyone who has moved their home because of the cost involved and finding a suitable location to reset it on.
* Nothing is standard. Basically true. See above
* They depreciate. Basically true. As in anything supply, demand and the market affect their value, along with the space rent and the age of the home.
* Financing is difficult. Some older models can not be financed. The amount down required is greater, the interest rates are higher and term of loans shorter.
* Most in California are in leased lots which mean the buyer has to accept the terms and conditions of the park and the buyer also has to be approved by the park.
* Rent in parks increase. Some cities to have rent control which will limit the increase.
* Rarely can you rent out your home if you need to - because the park may not allow sub-leases.

Now for some of the benefits.
*The cost are less than a condo. If you were to purchase a condo you would have HOA fees and Property Taxes along with your mortgage. The space rent and yearly property tax and/or registration fee on a mobile home make your monthly "nut" much more affordable.
* You buy into a community and many have amenities such as pools, spas and some have tennis courts.
* With a condo you have shared walls and a mobile home you do not have a wall shared with a neighbor.

So it is personal and the buyer will need to weigh their housing cost and goals to see if mobile home ownership fits for them.

Have an amazing day!
Web Reference: http://www.terrivellios.com
3 votes Thank Flag Link Tue May 29, 2012
If anyone is thinking of buying a mobile home particulary in Huntington Beach Ca. be very aware of the owners of the park. The rent is very high especially for seniors and families. Since 2008 the rent in one park Huntington Shorecliff has gone from 800.00 to almost 2,ooo monthly. This makes it nearly impossible to sell a good mobile home. Many of the seniors who owned homes prior to 2008 had to adbandon there homes which then was taken over by the owners and rented out.
Flag Mon Sep 23, 2013
Hi, I am in oregon.Mom has cash to pay for a mobile in 55 plus park.But does she have to have a job?can she use unemployment as a source of income.Does she need a co-signer?Do You know?anitaharris7777@outlook.com
Flag Mon Sep 9, 2013
The most common objections to mobile homes that I hear from clients, are that they depreciate like cars, you do not own the land in the mobile home park, you must rent your space, they are difficult and expensive to finance, the space rent is often very high, they are not as well built as "stick built:" single family homes
3 votes Thank Flag Link Mon May 28, 2012
It's just not a good investment. Great to buy if you want your own place for a low price, but the value won't go up very much.
2 votes Thank Flag Link Thu Jun 21, 2012
Hi Katy
Since, the question is about buying a Mobile home in the bay area especially 95148, the point is that it comes down to a Means test. I checked and came across 16 mobile homes ranging from $59,000 to $129,000. A mobile home is a depreciating asset, hence a mobile home on Home owner land is preferred. Hence, if this is what you can afford then this is what you go for.

If you are looking to make it a rental property then you have to look at your net cost and outlays
And your rental income.

Like John mentioned it is key to buy at the right location.

About 5 years ago we have had buyers paying $450k for mobile homes in Santa Clara county
Depending on size, age, amenities and location. Like a lot of traditional homes they have come way down in price.

Families prefer, a condo or a home, there are a few Condos available monthly for $250k, on last count I checked there were 173 units that are pending and sold as of April 1. Also the rate of appreciation and return on investment is quite different for Mobile homes compared to a Condo.

There is no harm buying a Mobile Home, as you have a home, a shelter, something you can write off
On your taxes at the end of the year, and if this is what you can afford then go for it.

Good luck.
Perry

Http ://www.ruthandperry.com

Http://www.trulia.com/blog/perry_mistry
2 votes Thank Flag Link Sun Jun 17, 2012
In most cases it would be due to the lack of value on investment.
2 votes Thank Flag Link Mon Jun 4, 2012
It is difficult to find financing for mobile homes and the lenders that will finance mobile homes charge higher interest rates than what they charge for single family homes. Also, mobile homes usually depreciate in value with age.
2 votes Thank Flag Link Mon Jun 4, 2012
Carol your comment is somewhat arbitrary and ambiguous. MH's in a rent/lease park/community, especially older Pre HUD "Mobilehomes", built before June 15, 1976. However, if the home is a HUD Manufactured Home on a private lot/parcel or in a Manufactured Home condo conversion, sub division, planned unit development (PUD) or on a private lot/parcel and it comps to the local LTV then loans are quite easy to come by
Flag Wed Oct 23, 2013
Carol, everything depreciates in value with age. Even the most expensive homes. Land is a different story as we know. If the market is strong and upwardly mobile it will usually appreciate. In a weak economy it levels off and even declines.
Flag Wed Oct 23, 2013
Katy,

Did you get an eye full on the passion we have for our business? Because real estate is local, I ran some quick numbers from our MLS on mobile homes in the zip code 95148 going back to 2007. Due to relying on accuracy of MLS reporting and input error I don't guarantee the results. These are all in lease space parks. Many are sold off of market and those numbers will not be reflected here.

2007 0 sold
2008 0 sold
2009 3 sold average of the three $85,000
2010 11 sold average of those 11 $80,000
2011 7 sold average of those 7 $80,000
2012 2 to date average of the 2 $67,000

Now because each home is unique these numbers are not going to reflect age, condition, rent, etc. Which affect value of each home on an individual basis.

We purchased our 1980 mobile home in 2008 in a multiple offer situation. Since then we have seen at least a $20,000 to $30,000 drop in prices. Ouch! Our real estate market is changing so I expect to see some changes in these as well. I hope in a upward movement.

We didn't buy with appreciation being our motivator. We didn't want shared walls, we wanted to keep our housing cost low, and we wanted a yard and garage. We got all at a price we could afford. Plus a beautiful view of our local hillside. We also got leaking windows, damaged walls, uneven floors, and a host of other issues, which we have since remedied. However running to Home Depot wasn't always an easy fix and the contractors were another story.

I strongly believe, as John, that buyers need to be informed. I speak from my own experience here in Santa Clara County. When I recommend a mobile home to buyers the 'majority' of them turn their noses up, even after I have explain that I own and live in one, and showed them what they can get.

So back to my original answer, SOME people do not want to buy a mobile homes and SOME people do.

Are you a buyer or seller?
Web Reference: http://www.terrivellios.com
2 votes Thank Flag Link Wed May 30, 2012
First of all, people DO buy “mobile homes” all the time. However there are two different types of “manufactured home” purchases, and they both have very different markets.

First the mobile home that will continue to be mobile – in other words a unit that will be in a mobile home community on a rented space. This is a personal property purchase and these have not fared too well. They depreciate like automobiles, just not as fast. They are also difficult to finance, have higher down payment requirements, and typically have higher interest rates. Because of the difficulty in moving these units, the property owner (the mobile home park) has the upper hand and have been known to take advantage of this situation.

Then there is the “manufactured home” that will be permanently attached to a piece of land. The 1st question: is the home a manufactured home, or not. If the home is built in a factory, and is transported to the land on wheels attached to the unit, it’s a manufactured home. It has motor vehicle tags, and is built to a national (HUD) standard. If the home (often build night next to the manufactured home) is built in factory, but needs to be transported on the back of a flat-bed truck (often in pieces) then it is called a modular home. These homes do not have any motor vehicle tags, and must adhere to the local building standards where the unit will be permanently situated. They are similar to “kit homes” and “log homes.” As for how these homes do is really a matter of the market where the units will be located. In some areas the majority of the homes are either manufactured or modular, and are widely accepted. However if you put the same home in an urban area it may be a different story.

The other issue is financing. Financing manufactured homes (the ones that arrived on wheels) is not as easy for some reason. Our company does finance them, but most do not. Modular homes are much easier to finance so long as there are comparable properties in the area so that a value is easily established. (This is why these properties are difficult to finance in urban areas; it is rare to be able to find enough comparable sales.)

If you have further questions feel free to contact me through my profile.
Web Reference: http://www.SacRELender.com
2 votes Thank Flag Link Wed May 30, 2012
The answers below for the most part are true with a few exceptions, misrepresentations and misnomers.

"they depreciate like cars". Au Contraire. Today's state-of-the-art Manufactured Homes are built to the exact same specifications as are site built homes. In fact they are even better built in most cases.

Now if you're talking PRE HUD "mobile homes", built before June 15, 1976, that's a whole different story. They were built like travel trailers and do in fact depreciate. Additionally, they can be very unhealthy as many of them were built with caustic and carcinogenic chemicals i.e. formaldehyde and asbestos.

"you must rent your space". Again, a misnomer. There are an abundance of Manufactured Home Communities that are either "Planned Unit Developments" (PUDS) whereby they where originally planned and developed as "RESIDENT OWNED COMMUNITIES" where you own your own land and share in the common areas in the same manner you would any site built tract or community.

Or you could buy into a "Condo Conversion" which is a formerly rent/lease park/community that has been converted into a "Condo Community". Here you own your airspace in much the same way you would own a "site built condo" and share in the common areas. But you do own your space.

In either of the above scenarios your depreciation generally stops useless your home is a "PRE HUD" or just in very poor condition in which case it would then be worth it to remove it and purchase a new Manufactrued Home which again is built as good or better than most site built homes.

"expensive to finance". If the home is indeed in a rent/lease community financing will be higher. However, there are many "chattel" lenders who are quite willing to lend on them. But if the home is in a "resident owned community" then you should be able to find the same type of conventional, FHA, VA lenders that any site built borrower uses. Not all mortgages lenders are in the game but you shouldn't have any problems finding one providing the home is not "PRE HUD"

"space rent is often very high". I can't find fault with this. This is one area of the MH industry that indeed gives it a black eye. All too often landlord/park owners abuse their tenants by rapidly raising rents. There's an age old adage in the MH Industry about this. "The higher the rent the lower the value of the home".

In this case you need to find out if the park/community you are looking at is in a rent control zone or if you can obtain a long term lease/rental agreement for at least 5 years if not 30, 50 or even 100 years with escalation clause adjusted to the Consumer Price Index (CPI). If not I'd definitely rule that out. These park owners are the leading edge of the next urban blight and will no doubt end up being a new generation of slum lords.

"they are not as well built as "stick built:" single family homes". Once again nothing could be farther from the truth. Anyone who paints this industry with such a broad brush needs to take a tour through a MH factory which I would be happy to arrange. If at the end of the tour you are not convinced that a MH is built every bit as good if not better than most site built homes I'll buy you a stake dinner at your favorite restaurant.

That stated I must reiterate that if the homes were built before June 15, 1976 they were built like travel trailers. Additionally, many homes built after that through about the mid to late 80's weren't built as good as homes that were built from about the early 90's to date.

That's why it's so important to always get a thorough inspection from an experienced MH inspector and not just any home inspector as they tend not to understand all the nuances in a MH. Not the structural aspects but moreover the set-up and installation of the home and the integrity of the foundation and support system.

"Manufactured homes are mostly restricted to sites within “mobile home parks”. Once again this is far from the truth. The law allows MH's to be located just about anywhere you can build a site built home. the only restrictions would be in planned communities with CC&R's requiring specific building and cosmetic criteria.

In the rural community I live in you will see Factory Built Homes interspersed with site built homes throughout the community. In many if not most cases you couldn't tell the difference between the two. Now granted there are MH's in these communities that still look very much like MH's and this is one of my pet peeves.

With today's factory options i.e. stucco siding, tile roofs, curvilinear architectural detail and offsets there's really no reason to ever order a MH that just looks like another MH. Factories today are very willing to sit down with a client and help them design and build a home that will blend in and compliment the community in which they want to live.
2 votes Thank Flag Link Tue May 29, 2012
Problems with financing based on type of home & age of home. Tornados are prevalent in our area of the country. They do not hold their value or appreciate in value. Lots and trailer parks are generally less desirable.
2 votes Thank Flag Link Tue May 29, 2012
It is a personal preference.
For example, there are people who do not want to buy a single family residential home.
Or a condo, etc.
2 votes Thank Flag Link Tue May 29, 2012
In addition to the points made by Charles Butterfield, the name mobile home is a misnomer. These homes, once set in place, are very expensive to move. In the San Francisco Bay area it is extremely difficult to find a place to where a manufactured home (the common term used in place of “mobile home”) can be moved. Manufactured homes are mostly restricted to sites within “mobile home parks” which have very few vacant spaces.
2 votes Thank Flag Link Mon May 28, 2012
robindthom, some of your information is very mis leading and it is apparent that you are not up to speed on the Factory Built Housing Industry. FYI Manufactured homes are not licensed and you definitely don't have to worry about "Custom License Plates" as they are not license plates at all.

You may want to take some time to check out this link: http://www.dfbls.az.gov/omh.aspx

Manufactured homes are definitely not registered with the DMV who issues and regulate licensing for Automobiles, Trucks & Recreation Vehicles. Manufactured Homes on the other hand are regulated by the Office of Manufactured Housing (OMH) which is under the Department of Fire, Building and Life Safety in Arizona and the California Department of Housing and Community Development (HCD) in California.

You're very broad and general suggestion that a Factory Built Home makes a poor investment is a very short sighted remark to make about such a huge and very complex and multi faceted subject. I can show you site built homes that lose as much if not more value than MH's in many areas.

It's really all about the situation relative to a particular MH just like any RE investment. If you're purchasing a MH in a rent/lease park/community and the community is not in the path of progress and there is runaway rental increases that are not fairly tied to the Consumer Price Index (CPI) MH's can and will lose value. "The higher the rent the lower the value" as is an age old adage in the MH industry overall.

There are a lot of other nuances you could benefit from just by taking the time to read some of the comments by me and others on this thread. But let's not continue to paint an entire industry with such a broad brush.

Above all let's not discourage, insult, embarrass or intimidate buyers who may want to purchase a MH for any number of reasons i.e. it's truly all they can afford, they are seniors wishing to sell their RE and don't wish to own RE any longer, they're a young family who wants a private yard and carport and possibly even a shed to use as a work/hobby shop or for storage.

Lastly, Let folks make their own choices about why and what they want to buy and where they want to live. Our job as RE Professionals is to help guide them through the process and keep them out of trouble and try to find them what they want to buy not what you want to sell or think they want to buy. Have a nice day.

BTW, I'm a licensed Manufactured Home Installer in the State of Arizona. Albeit I put my license on hold there I can reinstate it anytime.

http://www.onthelevelcontractors.com
http://www.m-hprocessing.com
1 vote Thank Flag Link Sat Oct 26, 2013
There are lots of places in the US where buying a mobile home and placing it on a lot is easy, common and inexpensive-just not here in San Jose, Calif. zip code 95148.

In Silicon Valley, land is at a premium. There are few mobile home parks, even fewer well-run ones. Space rents can be as high as apartment rents (I've seen up to $1100 in San Jose).

The better parks operate like a co-op in that the buyer must be approved by park management (including a credit check), and in some cases, a vote. Mobile homes themselves deteriorate and depreciate. Although newer ones can be much better built, few are manufactured to the same quality as stick-built homes.

Loans are at higher rates, even for newer mobile homes and if the mobile home is over 25 years old, the only option may be owner financing.
1 vote Thank Flag Link Wed Dec 19, 2012
FYI, in Santa Clara County there are very few mobile home parks which will allow a owner to rent out their mobile home because it would be considered a sublease on the park space. So for a return on rental investment that would be slim to none.

During the boom of real estate buyer's mind set went from purchasing a home for self enjoyment and fixing their monthly cost to investment. When our market went crazy many people who purchased for investment lost out.

Today, buyers who are not investors should refocus on the reason for purchasing a home. If they want to keep their cost low, have more space, and have a home without shared walls they should consider a manufactured home as one of their options.
Web Reference: http://www.terrivellios.com
1 vote Thank Flag Link Sat Jun 23, 2012
My in-laws had purchased and lived in 2 of the newer and nicer manufactured homes on top of the hill in Jackson (Amador County) back in 2003-04 and paid well over $120k for each. For the money spent, quality was poor (cabinets are cheap, countertops are formica, fixtures are very basic). Yes, they are roomy with vaulted ceilings and jacuzzi tubs). However, when you walked through both homes you could feel the SLANTED floors throughout! And this was after the concrete foundation was poured. I swear you could watch a tennisball slowly crawl across the kitchen floor by itself. I don't know if it was just a poor installation by the manufacturer or if all manufactured homes are this way.
1 vote Thank Flag Link Thu Jun 14, 2012
Lois, you as a professional have contributed one of the most realistic and objective overviews so far on this thread.
1 vote Thank Flag Link Sat Jun 2, 2012
People donot want to buy mobile homes is due to the space and durablity of it.
1 vote Thank Flag Link Thu May 31, 2012
The fact is manufactured homes ARE a depreciating asset, but so are site-built homes. My mother’s home is worth about $600,000 to $700,000 in a very nice area of Sacramento. However everyone I’ve spoken to about buying it is going to either bulldoze it or gut it to the exterior walls. (It’s a 55-year-old structure.) It’s the land that increases in value – not the improvements. If you re-do the kitchens every 10 or so years, bathrooms about the same. Install new flooring, HVAC, plumbing, electrical, etc. every 15 to 20 years they will hold their own.

The reason we have the perception that the “home” is increasing in value is because the land tends to increase in value faster than the improvements lose value. That and because the process of building a home (permits, impact fees, etc.) all add to the value of a completed home.
1 vote Thank Flag Link Thu May 31, 2012
I don't want and won't buy a mobile home because I view it as a depreciating asset. This depreciation is market value as opposed to tax depreciation, appraisal and tax values.

I think the standard out there for a site built home is that land comes with it. I understand this method. If I get a trailer, I have to look for a trailer park, deal with moving one, and thats more that I have to learn for an ideal that won't make me money.
1 vote Thank Flag Link Thu May 31, 2012
Katy:

One of the top producing agents in our office has an "eye" for mobile homes. That is her niche market. As I see it, as long as a mobile home is in an attractive moble home community, there should be a market for mobile homes. In fact, there is a mobile home park for senior citizens in a suburb of Cleveland, OH that is very attractive. It looks like many of the mobile homes in Florida senior citizen communities.
1 vote Thank Flag Link Thu May 31, 2012
One main reason is the financing is more difficult than stick built homes.
1 vote Thank Flag Link Wed May 30, 2012
Sorry...but I see it differently. I see many individuals going the route of buying mobile homes because it meets their current needs and budget. I'm presently working with a retired couple that have owned a single family home for their entire adult lives and are now selling to move to a mobile home park simply because they feel this will meet their needs best during this stage of their lives.

Beauty is in the eye of the beholder.......

Necessity is often driven by need......

Bill
1 vote Thank Flag Link Wed May 30, 2012
Ok. Let me whack this nail firmly on the head. Be it modular (on private land on a 433a foundation system) or a manufactured home (built for a mobile home park) or even a pre-HUD home... they are like stick-built homes when it comes to values - only on a smaller scale. They go up... and they go down.

In the last 6 months, there were 9 pre-HUD mobile homes (built before June 15, 1976) on the MLS, in San Jose, for more than $60,000. The highest sale was for $137,500. This home sold originally for $28,900. It sold again in 2008 for $102,000. I fail to see how this lost value.

Now this may not be the average, but from what have seen in the last few years, they all will eventually rise in value just like regular real estate, as long as they are properly maintained, and the park they are located in is properly managed by the park owners.

A home owner in a mobile home park might not make several hundred thousand dollars in equity on their home, but, they will not lose several hundred thousand dollars either. This should not be considered an investment. Consider it a roof over your head.. a place to call your own... with minimal capital out of your pocket to purchase.

I hear stories from the seasoned agents talking about the 1980s. They all thought they were going to go out of business because space rents breached the $300 level. Well... the wheels keep on turnin'.

Manufactured homes and mobile homes have been the primary part of my business in the last few years. I am a Realtor and I also work for a dealer - the best of both worlds. Also, I live in a modular home with a garage, on private land near Oakridge mall in San Jose. I didn't even know it was a modular home when I bought it 13 years ago. My recent appraisal came in Waaayyyy above what I paid for the home in 1995.

Lawrence Gillen
Realtor/Manufactured Home Specialist
(408) 472-5582 Cell
Advantage Homes
lawrence@gillencentral.com
DRE# 01193237
HCD# SP1177640
1 vote Thank Flag Link Tue May 29, 2012
Because most of them are in parks with strict regulations on pets. 4055
0 votes Thank Flag Link Thu Jan 7, 2016
Stigma! I have actually seen some lovely manufactured homes. They tend to be inexpensive and larger than "permanent" dwellings for the cost. But in my case, I grew up as poor white trash (pardon the nonPC term) and I just couldn't bring myself to make it official.
One down side is that often they are sold in a condo fashion. Where as, the buyer buys the home but must continue to pay rent on the land.
0 votes Thank Flag Link Sat Nov 28, 2015
Hi Katy,

There are many reasons, but for instance, some buyers would like more privacy, a larger lot, larger home.

all the best,

Arpad
0 votes Thank Flag Link Sat Nov 28, 2015
Because most all Mobile Homes have a Space Rent that as much or more than a Mortgage,
and so it is basically the same as renting a house, not owning one.
0 votes Thank Flag Link Fri Nov 27, 2015
high cost of fees and no appreciation ......
0 votes Thank Flag Link Sun Jun 21, 2015
I live in tornado alley. Tornadoes wipe out mobile homes like there nothing.
0 votes Thank Flag Link Wed Jun 17, 2015
they're*
Flag Sat Nov 28, 2015
I will be moving to San Jose July 9th. Are there any Co Op Mobile Home Parks in the San Jose, Morgan Hill, Fremont or Hayward area...Having a hard time find one... Thanks
0 votes Thank Flag Link Sat Jun 13, 2015
usury finance rates for mobile home purchases
0 votes Thank Flag Link Mon Jun 1, 2015
I think that it is mostly because people expect them to be really run down. However, despite this stereotype, I have seen quite a few mobile homes that are in really good condition. I have a friend that is moving into a mobile home soon that is in good shape, it just needs a couple repairs. I would say that if you are looking for a less expensive home that you look at mobile homes and see if there are any that you like! http://www.thirdcreeksupplyinc.com
0 votes Thank Flag Link Tue Jan 20, 2015
That is so true!, When it comes to manufactured homes these days yo can literally design them from the ground up. I did some research on manufactured homes these days compared to back then, did you know that when it comes to the comparison of manufactured homes and site-built homes, they both use the same building materials in the construction phases and the cost is lower. Construction costs per square foot are anywhere from 10 to 35% less than a site-built home.
Check out this website and see just how upgraded they are!:
http://www.titanfactorydirect.com/OurHomes/newhomes.aspx
Flag Wed Feb 25, 2015
Mobile homes offer a lot of benefits to owners. For starters, they are much less expensive than houses. Most owners can be for the whole mobile from up front which eliminates their mortgage. People also enjoy their customization potential. That is probably my favorite part about living in a mobile home. http://www.fischerhomecenter.com/
0 votes Thank Flag Link Wed Dec 17, 2014
terrible high space rental and poor return on the investment when sale.
I personally will rent than buying one of these units. Just my opinion.
0 votes Thank Flag Link Thu Dec 11, 2014
I think the only reason for this is the negative stigma that surrounds them. I didn't want to move into a manufactured home because I thought people would look down on me. I'm glad I was able to get over that! Living in a prefab home has saved me so much money and allowed me to live on the acreage I have always wanted. http://www.mwhomesales.com/model-homes/
0 votes Thank Flag Link Wed Dec 3, 2014
Just happened to run across this one again. Looks like it's getting somewhat dated. No further comments since May of 2012. I think it's time to say NEXT!!
0 votes Thank Flag Link Thu Oct 2, 2014
When you buy a mobile home ...it is on leased land from the landlord.....who has leased you the land...

..to put a mobile home......

....so you have a depreciating asset like a mobile home that over time has no functional value
or value...for example....

****wind comes...and your mobile is on...communications hill..

...what is it worth?
0 votes Thank Flag Link Fri Aug 8, 2014
The biggest issue is they are hard to find financing for and they are hard to get homeowner insurance for.
0 votes Thank Flag Link Fri Aug 8, 2014
Simply stated, many people feel that purchasing a mobile home is too similar to buying a car that only depreciates. In cases when thes properties do appreciate, it's usually because the land is appreciating, not the home.

Just keeping it real!

Bill
0 votes Thank Flag Link Fri Aug 8, 2014
high hoa and poor return as an investment.
Think this way, do you make money reselling your RV when you use it as home?

Sam Shueh
KW Realty
http://x299322.yourkwagent.com/
0 votes Thank Flag Link Thu Aug 7, 2014
You DON'T GET iT! You DON'T BUY a MOBILE HOME AS AN ASSET! You buy a MOHO cash in Vegas for under $10,000 so YOU can SAVE your money for OTHER THINGS!. Lots are anywhere from $635.00 to 750.00 a month. And that includes WATER, POWER, and amenities. Another words, YOU DON'T OWN TO A BANK! DUH! Don't own the property! Don't owe to a bank! Save youre money for OTHER FINE things in life! GET iT?????? LIVE OFF THE GRiD people! Live smarter! I'm VERY HAPPY, I FIGURED IT OUT! NOW I OWN 20 Acres OF LAND, PAID FOR! BECAUSE I OWN A MOHO! It has helped ME SAVE MONEY FOR LARGER PROPERTIES< BETTER INVESTMENTS. NOT JUST ONE HUGE HOUSE THAT I CAN'T UP KEEP BECAUSE OF COSTS. When a bank gives you a loan for a house, THEY AUTOMATICALLY KNOW THAT YOU HAVE A 90 percent chance of NOT paying it off! THAT's a HIGH percentage! Today people roll thru their jobs every 3 years, do the math! And who wants to get STUCK in a job they hate because they owe on a house they only stay 1/3 of of the time in???? People NEED to sit and think about this! I see MORE and MORE ppl giving up their homes with like $85,000 equity in it for an exchange of a MOHO. LOOK IT UP ON CRAIGSLIST, you'll SEE! WAKE UP! GET HAPPY WITH YOUR LIVES, IT'S SHORT I PROMISE YOU THAT! And YOU WON'T TAKE YOUR BIG O HOUSE WITH YOU EITHER! ONLY YOUR MEMORIES!
0 votes Thank Flag Link Thu Aug 7, 2014
Senior couple on SSI would like to buy a manufactured home. Where can I find the less expensive lot rent or park land owner purchase
0 votes Thank Flag Link Mon May 19, 2014
We find that manufactured homes in land leased parks make a great option for either seniors looking to downsize or first time home buyers. Most of our customers are seniors looking to downsize, tired of taking care of the yard maintenance, pool, upgrading an older, less energy efficient home in their retirement years or paying the higher cost of property taxes. We are a manufactured home dealer that builds our homes all over Northern California, on land or in land leased communities for almost 20 years.

When our senior buyers in our in-park homes purchase from us, they find a much easier life. Lock up and leave. Travel, have extra time away from maintenance of an aging home. We build Energy Star rated homes that cut costs of heating and cooling a home with all the modern savings with the increased insulation and energy efficient appliances. Quality of life is another reason for moving into a senior manufactured home community. Instant social activities and new found friends.

Our buyers reasons for moving into our new homes:

o Tired of paying high priced condominium fees?

o Tired Yard maintenance? Home maintenance?

o Want to update your home but don’t have the energy or funds to do it?

o Rather not have adjoining walls with your neighbor?

o Desire a one-level home without stairs

o Want to own your own home vs. renting?

Since we build most of our homes around the Greater San Francisco Bay Area with the higher cost of living, seniors find living in a manufactured home in a land leased community all makes sense. So why do people NOT want to buy manufactured homes? Well, they can be appraised like stick built homes on land if they meet all the codes and rules to be considered real property once they are installed on the vacant lot.

Yes, the homes don't increase like homes on land when you install them in a land leased community, but what is really important here? Isn't quality of life and the ability to downsize and live in a one-level single family beautiful home make sense?

Jack Ferris, Ferris Homes, Northern California
0 votes Thank Flag Link Tue Apr 22, 2014
Bought a mobile home and so did my sister. They are made so cheap it is unreal. We had to tear out the wall because it was full of mold from poor workmanship. They literally make them with cardboard. Water and moisture gets into them easy. Black mold is deadly and will kill you or make you very sick. MOld remidiation is very expensive. You don't want to go through it like we are right now. Thing twice.
0 votes Thank Flag Link Sun Apr 13, 2014
I would say do your research first, it's never bad to ask as many questions as possible and take notes. Asking questions tends to keep sales assocaites on their toes more than anything. Trust me i do it all the time in everything i do.
Manufactured homes are extremely updated these days, first of all you will be able to design your own home to your needs and satisfaction. When it comes to floor covering, vaulted ceilings, the design of your bathrooms, bedrooms, granite countertops, fireplaces, your outside porch scenery and not to mention your kitchen with stainless steel appliances.
Secondly when it comes to the comparison of manufactured homes and site-built homes, they both use the same building materials in the construction phases and the cost is lower. Construction costs per square foot are anywhere from 10 to 35% less than a site-built home.
Check out this website to see yourself! Remember ASK QUESTIONS!!!
http://www.titanfactorydirect.com/OurHomes/newhomes.aspx
Flag Wed Feb 25, 2015
Mobile Home depreciates. If you own the land, then, you'll want one for a time.
Most Mobile Homes are in a Park.......
In some Parks, you own the Mobile Home and the lot, and in most Parks, you only own the Mobile Home and NOT the land.
BOTH types of Parks have monthly fees and rules galore..........
That becomes a HUGE problem.
At first glance, there might be a pool, and it seems attractive... No work for you.
HOWEVER, the rules and hours might conflict with your lifestyle.
Some Parks have rules... Only 55 and older, with a certain credit score and income... Can't rent to others. Can't have visitors for more than x days a year, and must register with Park, and can't go anywhere alone... If you are sick or die, the monthly space rent is still due, though you own the Mobile Home, and though you own the land underneath... So, it is like a space rental, and an HOA............
Pets are restricted. Can only have this many, and that size. Ca't walk here or there, on leash, pick up... If dog barks, you might be fined............... etc...
Yards and lawns must look a certain way or they will come and charge you. Can't decorate a certain way.
Can't paint a certain way..................

Mobile Homes deteriorate, rust, acquire various problems, drafts, termites...............
A new Mobile Home might look like a house......... However, it is not always level for one thing...
You might buy it for a ton of money......... but, to unload it, you might be willing to sell it for next to nothing, or give it away...........

If the Park evicts you? For any reason.............. it costs thousands to move that, and it all gets ruined anyway...

If someone owned a parcel of land, and did not have Park rules, it might be a way to start, but, ultimately, it depreciates............ A house appreciates.
Land is freedom of choice, ( to some degree), but, not a parcel in a Park................

Good Luck in your choices.............
0 votes Thank Flag Link Fri Feb 21, 2014
I'm so sorry to tell you this SB but did you know that the term “manufactured home” is actually the replacement term for “mobile home”, so no it’s not a fancier word instead it’s the actual term of the type of home. It was adopted in June of 1976 to describe a type of house that is constructed in a factory to comply with a building code developed by the Department of Housing and Urban Development (HUD). “Mobile” is no longer an accurate name because fewer than 5% of homes ever move from the owner’s original site.
Flag Wed Feb 25, 2015
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