Foreclosure in San Diego>Question Details

Jay, Other/Just Looking in 92114

Cons of a new manufactured (not mobile) home?

Asked by Jay, 92114 Wed Oct 31, 2007

Hello,

I am located in Southeast San Diego near Morse high school. I wrote a post concerning the investment of a manufactured home I considering; l. however, it did not fit the character limits. So, I put up my question as a blog. It's not too long, so I'd like you guys opinions from an investment perspective. My goal is to sell it for at least $350K in the future in that area.

Please read the blog I wrote for details:
http://manuhouse01.blogspot.com/

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Answers

3
Jay:

There is a manufactured home development in the Shadowridge area of Vista in North San Diego County. These homes were always the most inexpensive in the area and never appreciated as quickly as others. Before going that route, I would:

1.Call Bank of America, Chase, Wells Fargo and other direct mortgage lenders to see what loan programs would be available for your potential buyers. This is critical.

2. Check the inventory of listings in the neighborhood where your lot is located. Would a new $300,000 manufactured home stand out as a bargain in the area?

3. Also check the availability of buildable lots in the area. You may be able to make more money selling the lot as-is and Bank of America has an excellent owner-builder loan program.

All good wishes in your decision!
1 vote Thank Flag Link Sat Jan 12, 2008
Roberta Murp…, Real Estate Pro in San Diego, CA
MVP'08
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I'm way late for this one but it just popped up on my radar so here goes anyway.

Please feel free to log onto our Trulia http://www.trulia.com/blog/onthelevelcontractors/ or Active Rain blog http://activerain.com/blogs/johnarendsen for more comprehensive information about the MH Industry.

Or you can check our our website and give us a call or drop us an email. We are RE Brokers, Manufactured Home Dealers and licensed, bonded and insured General Contractors and have been actively engaged in the MH Industry statewide for almost 3 decades.

We also do "Lonnie Deals"
Web Reference: http://www.onthelevelcontractors.com
0 votes Thank Flag Link Sun Feb 27, 2011
It's me again. I am still facing the dilemma of buying an old house (or foreclosure one) for less than $230K (3 bedroom) in which I have to sell my vacant lot or place a new manufactured home on my vacant lot for a total of $190K and then try to sell it later for $300K. Though the manufactured home will be listed as a single-family residence in a private property, how hard would it be to sell?
0 votes Thank Flag Link Fri Jan 11, 2008
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