Looking into Buying Mobile Homes?

To own a home is one of the dreams every common man cherishes, even from the childhood. With hard work and years of savings, he might be able to build or buy a dwelling for him and his family. More than a place to stay safe from bad weather and sun, a home is also a handy investment option. In this context, buying mobile homes is an option worth considering. Recently, in the US, there has been a surge in the number of people opting to live in mobile homes. Buying mobile homes is cheaper than other forms of housing and is widely seen as a good investment option as well. Statistics show that nearly 8.8 million American households live in mobile homes.

Before getting on with the details of buying mobile homes, let us look at what a mobile home is. A mobile home is a residential structure that's been constructed in a factory and is then shipped as a single piece to the address. Sometimes it is a misnomer as only 5% of these type homes ever leave their original site.

Buying mobile homes is an even better option when it's placed on land on a concrete slab with a well and full septic system. It will suit those who are looking for inexpensive housing. It's also a good idea if it is sitting on a nice piece of land such as an acre or more if you have plans to build a new home on the lot, or if you are an investor.

Before buying mobile homes you have to make sure that the mobile home conforms to the US government's Manufactured Home Construction and Safety Standards (known as the HUD code). That is, each mobile home must conform to a Federal building code rather than to the building codes at their destinations.

When looking into buying mobile homes, it is a good idea to check for the latest varieties of mobile homes available in the market. Nowadays, mobile homes options vary from single-section homes to large, multi-section units equipped with a fireplace or a cathedral ceiling. Buying mobile homes is a good housing choice for most due to wide price range available.

When buying a mobile home, make sure that everything is in place. First, shop around as much as you can until you find the home of your choice. Compare the cost, floor plan design, interior and exterior decor as well as the construction methods and materials used. Make sure that your mobile home displays the label certifying code compliance and the dealer is licensed with the Division of Motor Vehicles, Department of Highway Safety and Motor Vehicles. When buying mobile homes, it is always better to secure the manufacturer's as well as dealers warranty on the home.

In the context of buying mobile homes, there will be a lot of finance providers offering you loans in addition to dealer financing. Take care that you shop around for the best finance and insurance plan. While finalizing the contract, precisely understand which items on the contract are your responsibility. Clearly define yours and the dealer's responsibilities so that there is no ambiguity in the deal. Do not leave any blank spaces on the contract, and be certain that all the items which you and the dealer have agreed to are covered by the contract. Say no to oral agreements. Read the entire contract before signing it, and make a point to save a completed copy for your records. And if the dealer is to retain the wheels, axles and other mobilizing hardware, this should be stated in the contract.

Before investing in a mobile/manufactured home, be sure you have a place to put it. Remember, the structure must be tied down in accordance with the specifications provided in Department of Highway Safety and Motor Vehicles Rule 15C-1 or the specifications provided by the manufacturers. Remember, such structures are open to on site inspections.

Copyright 2005

Buying and Selling Mobile HomesSelling Mobile Homes

More than 40 states signed onto a proposed $25-billion deal with major mortgage servicers over faulty foreclosure practices. New York, Nevada and Delaware joined California in holding out for better terms.

More than 40 states signed onto a proposed $25-billion settlement with major mortgage servicers over faulty foreclosure procedures, but California, New York and other key states were still not among them.

California has until Monday to share in a multi-state deal with banks to obtain mortgage relief and reforms. Atty. Gen. Kamala Harris, who walked away from talks last year, says the door remains open.

With a Monday deadline at hand, California officials have resumed direct talks with the Obama administration about joining a multibillion-dollar, multi-state mortgage settlement with the nation's largest banks, a source said Sunday.

The talk show host pays $12 million for the 4,088-square-foot house with four bedrooms and four bathrooms. The ocean-view home sits on 1.26 bluff-top acres with beach access.

In one of the more talked-about transactions in town, actors Brad Pitt and Angelina Jolie have sold their Malibu beach house to daytime host and comedian Ellen De Generes for $12 million.

The four-bedroom, five-bathroom house built in 1920 for industrialist James Wigmore lists for $2,875,000.

A decorative cast stone entrance opens to this restored Spanish Colonial Revival-style house in Pasadena's South Orange Grove area. Built in 1920 for industrialist James Wigmore, the house retains such original details as coffered wood ceilings and arched doorways.

They don't believe they can sell their property for what it's worth, so they're spending money on making their homes more comfortable.

Do you fit any of these descriptions?

A biennial research report by the National Assn. of Realtors indicates that a handful of real estate agents and brokers and their clients either don't know the law or don't care to follow it.

When it comes to lawsuits, real estate agents and brokers tangle mostly among themselves.

The president aims to help about 3.5 million people with good credit who are unable to refinance at historically low rates because their homes are worth less than their mortgages.

 

The White House hopes to help millions of homeowners lower their monthly mortgage bill with a $5 billion to $10 billion plan to set up a streamlined refinancing program for people who are current on their payments.

The Standard & Poor's/Case-Shiller index of 20 large U.S. cities fell 1.3% in November from October as foreclosures continue to drag down the housing market.

Three straight months of home-price declines in the biggest U.S. cities showed that foreclosures remain a significant drag on a housing market that is entering its fifth year of deterioration.

L.A. Clipper Chris Paul may be quick down the court, but he moves pretty fast when it comes to buying multimillion-dollar real estate too.