Factory Fresh

An article in today's Odessa, TX American newspaper here had another great article about manufactured housing. Most of the article was related to California and California Senate Bill 2827 which would allow a manufactured home in any R-1 zoned lot in the state.

The problem I have with this is not the fact that they would allow manufactured homes in neighborhoods that traditionally don't have them. The problems I have are, one, how are you ever going to finance it? And two, if you pay cash and place it on the lot anyway, how in the world are you going to ever sell it?

Forget what the dealers are telling you. Lenders are not in love with manufactured homes. The easiest way to kill a MH loan is: Where are the comparables? Better have at least 3 sales of MH within 1-3 miles! And if you decide to put that nice big triple wide on the lot, make sure all of your comps are triples also. Good luck!

MH dealers would do their clients a huge favor and steer them towards a modular home. It's a little more expensive but there are no financing problems.