Appreciation & Real Estate
A myth that many homeowners, commercial real estate investors and Realtors believe is that real estate always appreciates. Lots of home buyers and lenders are left holding the bag during the current sub- prime housing meltdown. It’s the same way with investing in parks or communities or even stocks. Real estate appreciation and falling values both depend on many things: lending terms, interest rates, demand, tax policy and more. Even if you faithfully raise your rent every year and your expenses stay flat or at least your income growth outpaces the expenses—your community doesn’t necessarily increase in value. Currently the biggest reasons why parks and communities aren’t appreciating: Read more »
Tags: Financing, mobile home investment, mobile home park and US Recession, mobile home park business, mobile home park evaluation, mobile home park industry, mobile home park investing, mobile home park selling
mobile home park, mobile home park investing, mobile home park news, mobile home park selling | Frank Rolfe | 
July 9, 2010 10:45 am | 
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In the Manufactured Home business we (manufacturers, community owners, retailers, lenders) have been too self-congratulatory on manufactured homes and communities. We all talk, talk, talk about what a great value our homes are – affordable, energy efficient, how well they stack up against apartments and site built homes. Same thing with the communities. There are so many benefits to community living, we say. Read more »
Wachovia Bank has foreclosed on Homestead Mobile Home Park, in which it had a $9.8 million mortgage. Homestead Mobile Home Park is located in south Florida. Read more »
The SAFE act is new federal law designed to assist with the recovery of America’s residential housing market. It is intended to modernize the Federal Housing Administration, reduce foreclosures, enhance consumer protections, and reduce mortgage fraud by establishing minimum standards for the licensing and registration of state-licensed mortgage loan originators. Read more »
The greatest misconception about financing Mobile Home Parks is that the lender who finances the park will also finance the homes. The fact is that nothing could further from the truth since the value of the homes are of no value to the lending institutions. The reason is that the homes depreciate in value, people tend to trash them when they leave, and even if the tongues are cut off, they can always be welded back on and the home Read more »
We all know how hard it is to find a lender in today’s economy for mobile homes and mobile home parks. This month’s contest will entail a search for all local, regional, and national lenders that will loan on mobile homes and/or mobile home parks. We will put together a list of all the submissions that we get and send a copy of this list to all those who send in at least one suggestion. Please send the lender’s company name, contact name, phone, and email to dave@mhps.com and I will put together the list.
Also, as part of the contest, we will draw one name at the end of February for a free copy of our Mobile Home Park Home Study Course.
