Posted on 10/10/2004 4:31:24 AM PDT by JesseHousman
If accurate, this would be great. Older manufactured homes must be banned from areas where hurricanes have become a way of life.
"The Great Mobile Homes of Florida?"
They say Florida homes are unaffordable, so people chose manufactured housing.
Many of those that chose manufactured housing or a mobile home, still have a home in another state. If they were to sell that home, they'd have enough money to buy a home in Florida.
Actually Florida housing, in comparison to other states that present a similar draw (i.e. weather, beaches, not to mention no income tax), is quite affordable, IMHO.
Whenever I hear someone mention they are planning to purchase a mobile home, I advise against it. Besides the disadvantages during a hurricane or tornado, they decrease in value just as automobiles do. For a financed MH, rarely can one be found that is worth more than the bank's pay-off. Conventially built homes can easily be found between the $75 and 100,000 range. They will appreciate, can be sold for a profit, and the home buyer can move up into a more expensive home.
No, let the insurance and mortgage companies assess the risk and charge accordingly. If you want to live in an older manufactured home then you pay the price in either higher rates or take the risk of no insurance. Your choice.
Reality dictates that taxpayers will continue to pick up the tab for the uninsured.
http://www.domeofahome.com/
http://www.domeofahome.com/ivan.asp
http://www.monolithic.com/gallery/homes/eye/
http://www.monolithic.com/
Found this technology right here on FR. Probably as close to perfect for beachfront property.
Apparently it's never occurred to this guy that if you can't afford it, you can't have it. Who the heck is supposed to pay for expensive upgrades to hundreds of thousands of homes?
I think those who choose high risk housing should bear the risk. Nobody is "forced" to live beside a beach in Florida.
Why must my insurance and taxes go thru the roof when I live in Tennessee on high ground?
Why? Granted, MH owners shouldn't confuse the fact that they are still renters and not homeowners, so they will not benefit from any rise in real estate prices, but MHs can be an attractive alternative to renting.
In fact, the best case scenario (one that is well suited to seniors), is cashing out the equity in your home at retirement, and using a fraction to purchase a MH and use the residual to pay the rent.
Many people come out WAY ahead using this tactic, especially if moving from high value areas like the north-east to Florida, or California and moving to NV, AZ, or other desert communities.
There's a political element to mobile homes here in Michigan. Those who live in the parks pay a paltry fee that goes to local services such as schools, police, fire, etc. They cost towns a huge amount of money to accommodate and fighting the very powerful MH lobbyists is next to impossible because of mandates requiring "low income housing." Communities can regulate the snot out of where and how to place a park but that's about it.
Financial advisors recommend young couples NEVER buy a MH. They don't appreciate in value, there's no equity and they often pay much higher interest rates than a mortgage for a conventional house.
Median housing price in San Diego is $400,000 and that doesn't mean a NEW house, either. Try 30 yrs old. California has taxes on most everything.
WE pay the costs for these foolhardy approaches to housing that amounts to relief, insurance reimbursements, cleanup, police, fire and emergency equipment and personnel, etc.
All this amounts to billions that we end up paying while the trailer-dweller just buys another rig.
Now who do you think WILL pay?
Of course it's masonry constructed and the last time San Diego got hit with a hurricane or tornado was back in........
This is probably the main problem for the Florida housing. Since I'm a mortgage lender I'll write from a professional viewpoint.
The manufactured home industry in the Southern states suffers from a stigma of older, inferior homes and the shady business practices of those who sold them.
The new manufactured homes are a great value. When placed on a permanent foundation, they are titled as real estate --not chattel property (like a car)and are appreciating in value.
They are a great buy for retirees. I write about one mortgage a month for manufactured and the demand is only growing.
Perceptions of this product are changing favorably with the buying public and lenders.
Only REAL PROPERTY owners should be allowed to vote on issues that result in property tax increases.
Renters, or trailer park dwellers aren't permanent residents and what do they care about how much tax property owners must pay?
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