should I sell my mobile home and buy a site-built home instead?
82807
Mobile homes decrease in value every year that you own them, a site build home however increases with value every year, so your best bet would be to get rid of the mobile home, find a "fixer-upper", throw your money into fixing it up, sell it for more than you bought it, plus what you spent on repairs and keep moving up until you find one you want to keep.\n\nFixing up a mobile home....new carpeting, new roof will increase it for sales most, so if you need to do any of that to get a better sale, do it, it'll be worth your time, because it will sell faster.\n\nAnother option for you would to be to rent it the mobile home out, or do a Sold by Owner contract, that way you reap the benefits of the interest for yourself, and have an extra income to help cover your new house payment. \nBut be extremely cautious... people will trash the place if they really don't care about the place, or have no investment in it..Do a renters background check..and make sure all contracts are done with binding responsibilities of the renter making all repairs to damages, upgrades to place, etc.. and that when they leave all items altered remain with the house.
104864
You can not "give back" a house, manufactured or otherwise. you can pay it off early, however depending on the loan you might have a prepayment penalty. If the bank "takes back" a home it is considered a foreclosure, and then you can kiss your dreams od buying stick built good bye for awhile (12 -24 months to get an affordable rate, plus you will not be able to finance as much of the loan). Your best bet is to sell the home, then buy one that is stick built. The problem is that your manufactured home has to be post 1976 in order to fall into HUD guidlines. If it is older than that then you need to find private funding as it can not be sold on the secondary market and no lender will finance it (has to qualify fanny or freddy). If it is newer than '76 talk to a realtor and get the house sold. There is nothing wrong with looking for, and drawing up a REPC on a house you would like while your other house is listed. You can make the purchase of the new home contingent on the sale of the old home. Or of you have good credit and make decent money, you can purchase the new home before the old home is sold. The old home just becomes a second home, or investment property depending on the distance from the old home to the new home. There are lots of options for you .. but "giving back" the man. home is not one of them.
755051
It depends on what your doing to the home.  If all you are doing is cosmetic upgrades, a normal policy will do.  If you are adding square footage to the home, a builders risk may be in order.  Keep in mind that since the home will not be occupied, you will need a vacant dwelling policy, and those can run a bit higher than a normal homeowners policy.  Try contacting who you carry your auto through.  You may get a price break for having more than one policy with the same carrier.
918499
You are in idiot.  You are acting like you have a solid asset for sale.  I would rather buy an apartment building that was built on quick sand, and built on a fault line and built in a hurricane zone.  To me that seems like a more solid asset.\n\nGood luck.
656250
You don't,  Most banks won't lend on a mobile home.  If you do find a loan the interest rates will be HIGH!
54971
You need to find a market where this type of home would be in demand.  Consult with some real estate agents to find out if these types of homes are moving, and what they're selling for.  Then you need to assess whether or not you can build them at a low enough price to allow you profit.\n\nIf you're a builder, getting started starts with buying land.\n\nIf you're not, you'll need to hire one, and add that to your planned expenses.
667626
Do a lot of research in the area before you leap into this.  Make sure you know what type of repair work needs to be done ahead of bidding for it.\n\nIf you can do a lot of it on your own, then it's okay to live there.  If you can't do the work, get quotes and talk to people UP FRONT, not after the sale.\n\nBe careful of capital gains taxes on flipping homes, if you don't know what I'm talking about then you need to do a lot more learning before you do this.\n\nBasically it comes down to the market - timing, price, location.  Better do your homework, and I don't mean on line.  Buy some books and do some projects on your own before you think you can do this.
120453
If you intend to sell it, I would get the rezone done yourself and reap the benefits.  A developer is going to say that there is risk with any rezone request, it may or may not go through, blah, blah, so I'm not going to pay top dollar for your property.  You are in a much better negotiating position if you already have the rezone done.  \n\nHowever, be aware that single family homes are non-conforming uses in many commercial zones.  Some cities and counties DO NOT have rebuild allowances for non-conforming uses if your house is destroyed, damaged, or rendered unihabitable.  So, if you rezone your property and then your house burns down, you won't be able to get a permit to build another house since single family residences aren't an allowed use on commercially zoned property.  If your community is like that, you won't be able to get conventional financing for it ever again.  You can get financing, it will just cost you.  If it were me, I would be very sure that I am going to sell before I got that rezone done.
564839
My family is selling a house in Detroit right now and I asked the realtor how accurate those kinds of sites are.  He said it's really hit or miss.  Those sites dont take into account the condition of the economy of the area where you live along with a few other variables that can skew your results.
622549
You can purchase a mobile home from a company like Palm Harbor Homes and they will get you financed for a land home package with no money down.  I am buying one and yes your family will have plenty of room.  You can get a three bedroom for about 60000, and I dont know how much land you want  or where you live but you can do it.  My problem is getting financed for land by itself they always want 25% down any suggestions?
1000718
Hi there i am in the process of building my new home and i found it more easier to start building from my own pocket so that when i move into it, it is all mine and did'nt have to worry about anyone taking it from me or the monthly bill on it.It has taken me and my fiance two years to do it and now we will be moving in our own home in two weeks.So i think that if you can do it that way then that is the best thing to do.
730869
look into it further.  It could be that the property is so stripped down or trashed that it isn't worth the land it sits on and you will need to make a huge investment demolishing and rebuilding.  The lender who forclosed on the property is just trying to minimize their losses at this point and won't put any effort into the property.  But then if you happen to have a contractor, plumber and/or electrician in the family or you just see yourself as a potential next Ty Pennington, it's an ideal investment for you.
203764
Vacant land is harder to qualify for lending. It is not so easy to sell and so the bank won't lend as much. Yes, the bank, you can't borrow money for vacant land like you can for a mortgage, so you don't have the same large pool of money to borrow from. \n\nYou will be required to put as much as 50% down and maybe as little as 25% if you are lucky. I would verify this though as my info about this came along to me a while back and things may have changed a bit since then.\n\nYou might have better luck if you are going to live there, maybe a mobile home trailer or maybe a small manufactured home, or just go for the gusto and get a construction loan to build the house you want there.
756581
I would think that you can get out this contract based on the following information: modular homes are not the same as a mobile home/trailer. Those are called maufactured homes in the industry. Mobile homes should be a lot less than a modular home (Example-think, Extreme Home Makeovers: these are typically modular homes: no trailers in sight) Good Luck.\n\nhttp://homebuying.about.com/cs/modulareducation/a/modularhomes.htm\n\n\nFacts About Modular, Manufactured & Site Built Homes\nWhen you are buying a home, you might hear the terms modular homes, manufactured homes and site built homes. It's important to understand how they all differ, no matter whether you are purchasing an existing house or plan to build on land that is subject to restrictions. The differences can affect a home's price and its resale value, and even dictate whether or not it can be built on your land.\n\nWhat Are Site Built Homes?\n\nThey are constructed entirely at the building site.\n\nThey conform to all state, local or regional codes where the house is located.\n\nOften called 'stick-built' houses.\n\nA well-built, cared for site-built home generally increases in value over time, although its location plays a key role in value.\n\nWhat Are Modular Homes?\n\nModular homes are built in sections at a factory.\n\nModular homes are built to conform to all state, local or regional building codes at their destinations.\n\nSections are transported to the building site on truck beds, then joined together by local contractors.\n\nLocal building inspectors check to make sure a modular home's structure meets requirements and that all finish work is done properly.\n\nModular homes are sometimes less expensive per square foot than site built houses.\n\nA well-built modular home should have the same longevity as its site-built counterpart, increasing in value over time.\n\n\nWhat Are Manufactured Homes?\n\nFormerly referred to as mobile homes or trailers, but with many more style options than in the past.\n\nManufactured houses are built in a factory.\n\nThey conform to a Federal building code, called the HUD code, rather than to building codes at their destinations.\n\nManufactured homes are built on a non-removable steel chassis.\n\nSections are transported to the building site on their own wheels.\n\nMulti-part manufactured units are joined at their destination.\n\nSegments are not always placed on a permanent foundation, making them more difficult to re-finance.\n\nBuilding inspectors check the work done locally (electric hook up, etc.) but are not required to approve the structure.\n\nManufactured housing is generally less expensive than site built and modular homes.\n\nManufactured homes sometimes decrease in value over time.
633366
A mobile home is not a great investment, but it may be a perfect solution for you at this time in your life. You will own the home, but will still be renting the land it sits on. You want to be sure that the park is well run, and that there are no real problems there. \n\nA good source for information about the park's reputation for trouble is the police officer(s) who patrol that area, and the local fire / EMS department. \n\nHow long do you anticipate living there. If you are going to be there over a couple of years, you most likely will come out ahead by buying the home.\n\nLook at the cost of the land rent, and the payments you will be making on the home. Compare that to what you are paying in rent now. Adjust the figures to take into account any differences in utilities that are included in your rent and the lot rent.\n\nUnderstand that the mobile home may lose value, but in a good park, it will lose a whole lot less.
790542
Use it in SA. The weathers nicer, the property cheaper and I'm sure you could make some sort of income from it before you return home.
1013397
I can answer your question from 2 perspectives:\n1. I am currently a mortgage loan officer in North and South Carolina and very familiar with credit, real estate and the housing market.\n\n2. Not only did I used to work for Palm Harbor both in sales and setup, I also used to own a Palm Harbor Home.\n\nLet me state this... as far as manufactured hoems go, I truly believe Palm Harbor to be the best in construction and quality. Most folks do not know they are in a doublewide.. they do a fantastic job and they are tight!\n\nHowever, I must caution your daughter.. not so much on Palm Harbor, but on the manufactured home in general. Although I personally believe they are great homes, the general public, the real estate market and the lenders do not think that way.\n\nThe manufactured housing industry has taken some hard hits.\n\nLenders have pulled out nationwide from lending money on these homes due to the high foreclosure ratios. And contrary to someone else's response, lenders are not looking to get back into that market. When you lose millions of dollars, you learn your lesson. So, once your daughter gets approved, no matter what the sales person tells you, there may not be any better financing options available later... she may not be able to refinance the loan later. So she must accept that the payments she gets are the best she may ever get on that home.\n\nThe real estate market is flooded with foreclosed manufactured homes, so the market is not allowing the mobile homes to hold their value. Most home depreciate fast because the most recent comaparable properties available sold in foreclosure for 20-30% less than yours! This is not a wise INVESTMENT.\n\nThe general public sees mobile homes still as "trailers." Although nowadays they typically build a more solid home than many home builders (I have been to the factories!), the public still sees them as the old single wide metal homes that just won't go away even though they are falling down.\n\nChances are that if your daughter can buy a manufactured home, she can buy a solid site build single family residence. Have her check with a local mortgage broker in the area that works with less than perfect credit and first time home buyers. (Believe me, we brokers can help here!) If in NC or SC, use my link below.\n\nAlthough she may not get as much room for the money, the long term investment in a site built home will pay off. When she needs more room or needs to sell and move in the future, she will have a property she can sell and make money from, not a mobile home she needs to pay her way out of or be stuck in.\n\nBest of luck in your decisions.