Value comparison between manufactured home and regular house (sale, property tax, expensive)
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The major distinction to keep in mind is that single wides are not financeable for most traditional mortgages. Small double wides, even "park models" may be, depending.
And yes single wide manufactured homes can be financed.
As a Real Estate Agent, you should know that Manufactured Homes can be financed. There are even companies that specialize in financing Manufactured homes at competitive rates.
From 1972 until I finally retired I was an investment real estate broker. I sold several Mobile Home Parks that were quite large. I always made sure the new park owner knew where manufactured homes could be financed, so they could pass this information on to people considering moving into their parks, and needed to know where they could finance homes they bought. This way they could get pre-approved at a decent rate, and then go looking for a mobile home to buy, often approved for quite a lower rate than the dealers were arranging and setting up loans for on homes they sold.
This knowledge also came in handy, selling large ranches and irrigated farms. A lot of the buyers, were wanting to buy a manufactured home to have placed on the farm or ranch as help housing. In fact several of the owners, bought nicer manufactured homes for their property for their personal residence as cost to build under the circumstances could be so high, this was the only practical solution.
And yes single wide manufactured homes can be financed.
As a Real Estate Agent, you should know that Manufactured Homes can be financed. There are even companies that specialize in financing Manufactured homes at competitive rates.
I KNOW MANUFACTURED HOMES CAN BE FINANCED! I've been saying that through this whole thread, and that they are a good, affordable option for people!
I do NOT though, know a single bank or mortgage company that is currently offering financing for single wides, of any age.
I always heard the term park model but always thought it was like a model home where people can view what it's like and it could be sold and then they would buy a different park model
I still don't really know what it is, is it like the standard model for that mobile home park or community?
Just means smaller models to fit on small lots in mobile home parks. Standard manufactured homes have grown, and many are too big for the older parks, so, now they make special park models. Many have porches and main entries on the end, also, instead of on the long walls, to better fit in park type settings.
And yes single wide manufactured homes can be financed.
As a Real Estate Agent, you should know that Manufactured Homes can be financed. There are even companies that specialize in financing Manufactured homes at competitive rates.
From 1972 until I finally retired I was an investment real estate broker. I sold several Mobile Home Parks that were quite large. I always made sure the new park owner knew where manufactured homes could be financed, so they could pass this information on to people considering moving into their parks, and needed to know where they could finance homes they bought. This way they could get pre-approved at a decent rate, and then go looking for a mobile home to buy, often approved for quite a lower rate than the dealers were arranging and setting up loans for on homes they sold.
This knowledge also came in handy, selling large ranches and irrigated farms. A lot of the buyers, were wanting to buy a manufactured home to have placed on the farm or ranch as help housing. In fact several of the owners, bought nicer manufactured homes for their property for their personal residence as cost to build under the circumstances could be so high, this was the only practical solution.
Some may not know because they don't need to because their are not any or very few mobile home parks in that area. I grew up in north NJ and there were only 3 small ones in the county I grew up in and they were trailer parks on dirt roads, not mobile home communities. Where land is expensive and less lots are available you are not going to see them or sell one. Plus the few they had were with older homes with lot rentals so they were sold by the park owner or trailer owner themselves usually.
It's a mistake to think most manufactured homes are even in parks on rented lots. They're not around here.... In some areas perhaps close to half the new homes on acreage out here are manufactured homes.
It's a mistake to think most manufactured homes are even in parks on rented lots. They're not around here.... In some areas perhaps close to half the new homes on acreage out here are manufactured homes.
Well in north NJ I've never seen a MH on a private lot. I doubt many cities would allow them and every county in NJ is classified as urban and it's the most densely populated state. Land and taxes are so high it doesn't make sense to buy a MH there.
I never guessed manufactured home value is such interesting topic. I was just trying to gauge how much I should bid for a property with a manufactured home on it.
And now even that question is moot, because in this seller's market it seems people are disregarding the fact that the house is a manufactured home; they are going for pretty much same as stick-built houses; at least for the one I am eyeing.
When this house hunt is concluded -- success or fail -- I will post the details of the property for those who are interested to debate some more...
It took me about 5 minutes to find all these. There are a lot of older manufactured homes in the trailer parks here (and some of them look like old time trailers), but there are also many new manufactured homes in trailer parks. I personally lived in a trailer park in a 1940s single wide trailer. That was the oldest one of the bunch, but the others were all single wides, too.
I'm not saying that stick built houses here aren't worth more - they are - but I am trying to show that a MH in a county of other MH seems to keep its value.
Last edited by rodentraiser; 03-17-2018 at 02:59 AM..
Reason: spellin'
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I've been saying that through this whole thread, and that they are a good, affordable option for people! 
