Good Investment
Buying a home is one of the most important decisions in anyone's life and should not be taken lightly. BUT... You can reach the point where all the doom and gloom about stagnant sales and falling prices can become paralyzing, robbing you of an excellent opportunity to move into a home of your own
It is true that prices have dropped, but most manufactured homes across the country have appreciated far ahead of where they were before the housing boom/bust. Over the past several years most manufactured home owners have seen the value of their homesteads go up. In some areas home values have grown as much as seventy five percent. So even with falling prices many of our manufactured home's values have jumped up faster than inflation.
Be an educated shopper. Read some of the recent articles in our library (http://mobilehome.com/articles.php)before you head out. Take your time buying a home today. Be a smart buyer and shop for the money first. Once you get pre-approved for a loan, and know exactly where your limits are. You will be able to zero in on homes in the exact price range that you can afford and negotiate like a cash buyer. There are hungry lenders that want your business. Look for the best financing you can find, taking the time to find the best rates and programs. This will be time well spent that can save you money over and over again for years to come.
Yes the mortgage market is in chaos at the moment BUT there are lenders that specialize in manufactured housing that are actively seeking to make loans on new and used manufactured homes. You won't find these lenders in a downtown location. Most of them run national operations and generally work through licensed dealers. BUT if you have good credit the money is absolutely available. Finding these lender and even getting mortgage quotes from multiple lenders is easy enough today, online. With the drop in volume of home sales came a dive in the number of new mortgages. Lenders, just like sellers are hungry for your business.
In a buyers market you have the power to make sellers compete for your home purchase. Dont buy that first home you fall in love with, at the seller's asking price.. Chances are that you won't have very much competition. Dont be afraid to negotiate for a better price, Sellers wont bite you... or be insulted if you ask for a lower price. In the current market they will probably be surprised if you don't ask. The worst thing that can happen is that they can say no... And you have lost nothing. The best thing is that in this market they will probably say yes or at the least meet your offer part way.
Uncle Sam has made you home one of the best tax shelters available. Home owners can deduct interest on their mortgage and property taxes on their federal tax returns. Some states also give tax advantages to home owners. Even better, when you sell a home the first $250,000 of profit ($500,000 if you're married) is tax free. What else can you invest in and not pay taxes on the first quarter or half million dollars of profit? These tax advantages alone should outweigh any anxiety about jumping into homeownership in the current market.
Everyone needs a place to live and most often owning costs less than renting. The best part of homeownership is just that, Home Ownership! Even though you may have a mortgage, you own your home. Over time your mortgage balance will go down and your equity will go up! Eventually, if you stay in your home long enough, you will own it free and clear. It may very well become the most valuable asset you own! Instead of helping your landlord pay down his investment take advantage of the current market's low pricing, buying incentives and great mortgage rates. This is a wonderful time to buy a manufactured home, especially for first time home buyers.
Markets are always fluctuating, so it's difficult to guess when the dropping prices will level out or start creeping up. The buyers market and recent emergency drop in interest rates combined make NOW the best time in recent history to buy a home. Financing is available at low rates that we may never see again in our lifetime. Sellers and lenders are very motivated. Waiting for a lower price could backfire on you. No one really knows when, but we do know that pent-up demand will suddenly reverse the market and prices will start to climb again. This is too important a step to put off. Make up your mind to buy a manufactured home NOW
We have seen the cost of living jump up while the economy slowed down, Gas prices changes can make you dizzy. There's weakness in the job market, stocks are in free-fall and the housing market is in a slump. Sounds like a bad time to buy a manufactured home.... or is it? As values drop, construction slows and inventories of available homes are stacked up, home buyers will find some incredible deals out there.
Buying a home is one of the most important decisions in anyone's life and should not be taken lightly. BUT... You can reach the point where all the doom and gloom about stagnant sales and falling prices can become paralyzing, robbing you of an excellent opportunity to move into a home of your own
It is true that prices have dropped, but most manufactured homes across the country have appreciated far ahead of where they were before the housing boom/bust. Over the past several years most manufactured home owners have seen the value of their homesteads go up. In some areas home values have grown as much as seventy five percent. So even with falling prices many of our manufactured home's values have jumped up faster than inflation.
Be an educated shopper. Read some of the recent articles in our library before you head out. Take your time buying a home today. Be a smart buyer and shop for the money first. Once you get pre-approved for a loan, and know exactly where your limits are. You will be able to zero in on homes in the exact price range that you can afford and negotiate like a cash buyer. There are hungry lenders that want your business. Look for the best financing you can find, taking the time to find the best rates and programs. This will be time well spent that can save you money over and over again for years to come.
Yes the mortgage market is in chaos at the moment BUT there are lenders that specialize in manufactured housing that are actively seeking to make loans on new and used manufactured homes. You won't find these lenders in a downtown location. Most of them run national operations and generally work through licensed dealers. BUT if you have good credit the money is absolutely available. Finding these lender and even getting mortgage quotes from multiple lenders is easy enough today, online. With the drop in volume of home sales came a dive in the number of new mortgages. Lenders, just like sellers are hungry for your business.
In a buyers market you have the power to make sellers compete for your home purchase. Dont buy that first home you fall in love with, at the seller's asking price.. Chances are that you won't have very much competition. Dont be afraid to negotiate for a better price, Sellers wont bite you... or be insulted if you ask for a lower price. In the current market they will probably be surprised if you don't ask. The worst thing that can happen is that they can say no... And you have lost nothing. The best thing is that in this market they will probably say yes or at the least meet your offer part way.
Uncle Sam has made you home one of the best tax shelters available. Home owners can deduct interest on their mortgage and property taxes on their federal tax returns. Some states also give tax advantages to home owners. Even better, when you sell a home the first $250,000 of profit ($500,000 if you're married) is tax free. What else can you invest in and not pay taxes on the first quarter or half million dollars of profit? These tax advantages alone should outweigh any anxiety about jumping into homeownership in the current market.
Everyone needs a place to live and most often owning costs less than renting. The best part of homeownership is just that, Home Ownership! Even though you may have a mortgage, you own your home. Over time your mortgage balance will go down and your equity will go up! Eventually, if you stay in your home long enough, you will own it free and clear. It may very well become the most valuable asset you own! Instead of helping your landlord pay down his investment take advantage of the current market's low pricing, buying incentives and great mortgage rates. This is a wonderful time to buy a manufactured home, especially for first time home buyers.
Markets are always fluctuating, so it's difficult to guess when the dropping prices will level out or start creeping up. The buyers market and recent emergency drop in interest rates combined make NOW the best time in recent history to buy a home. Financing is available at low rates that we may never see again in our lifetime. Sellers and lenders are very motivated. Waiting for a lower price could backfire on you. No one really knows when, but we do know that pent-up demand will suddenly reverse the market and prices will start to climb again. This is too important a step to put off. Make up your mind to buy a manufactured home NOW
Manufactured Home Web Resources:
Manufactured Home Finder - http://mobilehome.com/homefinder.php
Manufactured Housing Book Store - http://manufacturedhousingbookstore.com
Manufactured Homes For Sale By Owner - http://mobilehome.com/fsbo
Manufactured Home Financing - http://mobilehome.com/loanfinder
Manufactured Housing Yellow Pages - http://mobilehome.com/yellow_pages
Manufactured Home Insurance - http://mobilehomeinsurancequote.com
Manufactured Housing Business News - http://mobilehomenews.com
Mobile Home Parks For Sale - http://mobilehomeparkexchange.com
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