Boy named Sue
Post Rank: 6
||Posted: Nov. 18 2009,9:02 am
||Post # 44
|Quote (GoFastRacer @ Nov. 14 2009,4:57 am)|
|Quote (WATERDOG @ Nov. 13 2009,10:18 am)|
|Quote (GoFastRacer @ Nov. 13 2009,4:51 am)|
|Quote (DirtySquirty @ Nov. 12 2009,4:55 pm)|
|Quote (WATERDOG @ Nov. 12 2009,8:21 am)|
|Quote (DirtySquirty @ Nov. 09 2009,10:05 am)|
|Quote (GoFastRacer @ Nov. 07 2009,6:18 am)|
|Don't feel bad I'm in the same boat, have ours up for almost a year now and nothing but tire kickers and low ballers looking for foreclosures, good thing I don't have to sell it!... |
What I've been dealing with is that there's no financing being offered for "manufactured" homes right now. Â
It's gonna take the right buyer(s) to have the cash.
Sure there is. This is in AZ right. Call Tonedog on this board, he's an AZ broker. He doesn't post anymore though. Let me know if you want his number. I've looked at lots of them in Havi and financing wasn't an issue. Minimun 25% down vs 3.6 on a stick house. They also ding you about an extra 1/2% interest on a mobile. Insurance is also harder to get and more expensive.
Yes....however this is a "single wide". Again, according to my sources, the loans aren't as readily available for this size. Me thinks it's more just a matter of not having the right person(s) come by and see what we got to offer. Â
It's mainly because it's a summer home and not a primary home, and as unstable as things are now, someone was to lose their job that would be the first thing to go, that's the reason they don't want to give out loans on that!. When we were picking our house, there was no problem getting a loan if we wanted one, but it would be our primary residence that's the key right there!..... But, there's always someone out there with cash that can't live without it just need to find him, wish I could find him!..
The second homes requiring a 20% down is why I don't already have one in Havi. I found this one out the hard way. Just about died when I got the papers for escrow that said they needed another 28K down before close of escrow.
Second homes like that are the biggest risk, and if you're on Indian land it's even worse!..
No Indian land. That was one of my requirements.
"It seemed like a hell of an idea at the time".