Charlie, they do not come with wheels and a hitch. they do have steel main members running down the center though, and 2X8 floor joists.

Chris, they are stick built, and the quality is pretty doggone good in fact. They still will depreciate a bit if they are a true "manufactured" though. Nothing like what Charlie is saying. That is one of the things that has been hard to get through to many people.

A true Modular though will have 2X12 floor joists and no steel underneath. If you can, get in the crawlspace and verify before taking their word for it.

And yea, properly built and installed, they will usually outperform a stick built.

 

311k for the house and about 100k-125k per acre.

1.31 million, that's right.

I have a 1244sf 3/2 with 2 car garage on 7k ft lot (325K), last year she was 440k!

Stupid Foreclosures.

But I love the foreclosures too...We're looking at 2700-3000sf bank owned homes for 425K-475K, we bought at 219K in 2002 and owe 204K.

WOOT! WOOT! Paying off the Dodge! *If she sells*

 

I bought 30 acres last spring for a little over 40. Hour southwest of St. Louis. Some of you alls land prices are scary.

 

"they do not come with wheels and a hitch."


So they get drug to the site on dry pavement with a rope? There's a hitch, it gets unbolted and usually placed underneath it. There's axles, they get unbolted and taken away. And the dealer will tell you that you can call them up when your ready to move it and he will let you use a set of axles, but he won't tell you that he's probably going to be out of business by the time you sell it.

There's been numerous attempts by the MH industry to increase the market for them. Step one was stop calling them mobile homes and call them manufactured homes and stop installing permanent trailer lights on them. Our first one had the lights on the back. Step two was to change them from being titled at the DMV and tie them to the land like a home. This also allowed more buyers to get conventional loans on them.

When we we're selling our last one, there was only one bank in about a 100 mile radius that would finance one. And they did it only because the owner of the bank went to school with they guy that bought it. National chains will finance them, like Chase, GE, etc.

I've owned several and now own and have built several houses. They are not the same. You can get some that are built better than others and not all mfg's are the same, plus they all have thier own levels of quality. There's several regions in the US. The ones mfg'd for the coastal regions will handle more wind load. The northern regions will handle more snow load. Central regions are the weakest, as they see less snow and wind. You cannot transport them between regions without special permits.

How come the instructions given in tornado weather is to always get out of a mobil home?

Our last one was a Palm Harbor. I'll agree that it was very nice, very well built. But it still depreciated. We profited from our sale, but only because through other deals, we ended up with 2 acres of land at no cost to us. When we aquired our land, it was worth about $250 and acre. We sold it for $8500 and acre. We purchased our MH for $42,000 and sold it for $38,000. We had to jump thru a few paperwork hoops to sell it, as it we purchased it not tied to our land.

Our first MH we purchased for $7500 and 4 years later sold it for $8500.

My current house cost $85,000 to build. At the three year mark, it was appraised at $130,000. In the last year, just land has gone from $4000 an acre to $16,000 and acre and is selling faster than a sign can get nailed up.

That's another $24,000 equity I got just for being in the right location. So now I'm at $154,000. You will never see anything like this with a Mobile Home or Manufactured Home.