manufactured home values

Archive for the ‘Manufactured Home Info’ Category

New Manufactured Homes May Get Weather Alert Radios

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ear_bigpic-249x300 New Manufactured Homes May Get Weather Alert RadiosWhether you call them mobile homes or manufactured housing, everyone has heard stories of high winds and tornadoes destroying factory build homes. I new proposal from U.S. Representative Spencer Bachus, (R) from Alabama, may provide added safety for those living in these homes. Bachus has proposed legislation requiring weather alert radios to be installed in new manufactured homes.

Some manufactured housing groups are opposing the legislation saying that it is unfair to single out the industry. While the spring storms of 2011 destroyed all types of structures, Bachus believes that the addition of emergency weather radios cal give residents of mobile homes enough advanced warming to be able to seek shelter especially in the event of an approaching storm late at night. The advanced warning could allow sleeping residents to get their families to community shelters or to a home with a basement.

The cost is reported to be between $11 and $45 per radio. Bachus considers this cost insignificant when compared to the number of lives that could be saved by providing advanced notice of approaching violent weather.

The proposal has received bi-partisan support and will now be passed along to the Senate where it has been well-received in the past, but has failed to pass.

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Housing Prices May Rise & Interest Rates May Hold

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Housing prices predicted to rise in the 3rd quarter of 2011.

Bloomberg News reports Housing and Urban Development (HUD) Secretary Shaun Donovan says home prices may start to increase as early as the third quarter, as the rate of foreclosures decline.  Speaking on CNN, Donovan says, “The real question is when will we start to see sustainable increases. Some think it will be as early as the end of this summer or this fall.”  He says defaults are declining, and home sales have gone up in six of the last nine months.  Lenders need to encourage home ownership so people can realize the value of their investment over time, not overnight.

July 11 (Bloomberg) — The Federal Reserve may keep interest rates at record lows for the longest period since World War II as the economic slowdown that sparked a four-month bond rally worsens, according to Treasury market signals.

This means that there has literally never been a better time to buy a new manufactured or modular home than now, before the housing prices rise.  Centennial Homes has striven to keep our prices as low as possible while still providing the highest quality product and the best service in the industry.  We encourage you to visit your local area model home center today and discover just how affordable our homes can be for you.

CLICK HERE to find a location near you.

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How Much Home Do You Need?

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Before buying a manufactured home, carefully consider the pros and cons of the design and floor plan.

Single-section mobile homes are made of one main unit; multi-section homes are made of two or more pieces joined together.  Compare the floor plans of single-section and multi-section homes to help you determine how much room you need and what design best meets your needs.

Centennial Homes provides sales literature for all of our model homes.  The literature often shows the home’s basic construction specifications, its features, and the variety of floor plans available.

Single-section and multi-section mobile homes come in a variety of sizes – with prices to match.  In general, single-section homes are less expensive than double-section homes, which are less expensive than triple-section homes.

The average single-section home has about 1,100 square feet of living space and costs about $60,700.
The average double-section home has about 1,700 square feet of living space and costs about $85,100.

Select a Home Location

Before you select a home, decide whether you want to rent or own your land, and find a lot.  If you own the land and place the home on a permanent foundation, you enjoy better financing options, and your home is more likely to appreciate in value.

* Beware zoning or restrictive covenants that limit your ability to place mobile homes on some private lots.  Rental parks and some localities have restrictions on the size, type, and appearance of homes allowed in their communities.  Your home will likely have higher resale value if its design fits in well with the neighborhood.

* If you do not buy land, be sure to examine all park rules and lease terms, including allowable rent increases.  Some rental communities require you to move your home out of the community if it is a certain age at the time you decide to sell it.  Some parks have specific rules relating to the landlord’s right of access to the inside of your home, behavior of children, use of clothes lines, parking and much more that might affect your decision to live there.  It is important to be aware of these restrictions before purchasing a home.

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How much home can I afford?

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Centennial Homes provides financial guidance to help you buy the right home.When people think about buying a new manufactured or modular home one of the first questions many ask is; How much home can I afford? This is a very legitimate question and our years of experience have shown that without accurate information people usually make one of two common mistakes. They either buy too much home and find that making the monthly payments can be a real challenge. Other times, people buy too little home and later find that they have very quickly outgrown the home. In this article you will learn how to determine how much home you can afford.

Manufactured homes are often sold separately from the land on which they will be placed. When calculating how much home you can afford, you need to factor in the cost of the land or land rental.

If you purchase land be sure to include costs to prepare it for your home: clearance and grade work, a well or septic system, electrical and water connections, driveways, porches, landscaping, and more.

If you place the home in a park, these costs may be bundled into “park packages,” which pay for improvements such as driveways and carports for lots owned by the landlord. Don’t forget to factor in likely rent increases when budgeting this option.

Charges to transport the home from the factory and install it at its final destination may be included in the price of the home. If you buy a used homes sold in place, you will not incur these costs.

New mobile-home owners also shoulder long term costs that need to be factored into your budget: insurance, utilities, taxes, maintenance and repairs. Despite warranties, new mobile-home owners, like the owners of traditional homes can have significant out-of-pocket repair costs in the first years of ownership.

Centennial Homes helping you get the home of your dreams.Compare the total cost of a manufactured home (not just the purchase price) to the cost of condos, houses, and apartments in your area. You will likely discover that even with some of the added costs, the cost of ownership of a manufactured or modular home is still well below that of any other housing option. Knowing all your options will also help you to negotiate the final price if you decide to buy a manufactured home.

If this is your first home, consider homeownership counseling. A mobile home is no less a commitment than a conventional home, and a counselor can help you prepare for the purchase process and the responsibilities of homeownership. Each Centennial Homes consultant has the training and experience to act as your guide in what can be a confusing process. When you visit one of our 8 model home centers, be sure to ask questions and your personal home consultant will be happy to provide you with enough information so you can be sure that you have purchased exactly the right home.

Click here to be connected to a professional home consultant in your area today.

How much home do you need?

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Mobile Home Buying Tips

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(Editor’s Note: The information below is excerpted from ”Home to Buy a Manufactured Home,” a publication of the Manufactured Housing Institute, produced in cooperation with the Federal Trade Commission’s Office of Consumer & Business Education, and the Better Business Bureau consumer information publication, “Tips on Buying a Manufactured Home.”)

Thinking about buying a manufactured home? Here are some questions and answers that will help you make a wise, satisfied customer.

tips1 Mobile Home Buying Tips

Discard any pre-conceived notions that your choices are limited. Manufactured homes are available in a variety of siding materials and colors, including metal, vinyl, wood, or hardboard. You may select design features such as bay windows, a gable front, or a pitched roof with shingles. You can add awnings, enclosures around the crawl space, patio covers, decks and steps to give your home the look you want.

tips2 Mobile Home Buying Tips

Homes are available to meet almost every pocketbook and size requirement. Homes come in a variety of sizes (from 400 to 2500 square feet), with a variety of floor plans that include living rooms, dining rooms, family rooms, fully equipped kitchens, utility rooms, luxurious master baths and from 1 to 4, or even more, bedrooms.

tips3 Mobile Home Buying Tips

Unlike site-built homes, all manufactured homes are constructed to meet federal building standards adopted and administered by the U.S. Department of Housing and Urban Development (HUD). The National Manufactured Home Construction and Safety Standards Code (also known as the HUD code) regulates home design, construction, strength, durability, fire resistance and energy efficiency. It also sets standards for heating, plumbing, air conditioning, thermal and electrical systems. Inspectors, known as IPIA’s (Primary Inspection Agencies) acutally monitor construction of the homes as they are built in the factories.

The HUD code specifications were developed over the technical advisory committee composed of engineers and industry experts. The code sets performance standards which the homes must meet. This allows manufacturers the flexibility to adopt new technologies while insuring that consumers can be confident that their homes will meet or exceed the qualities found in site-built homes.

tips4 Mobile Home Buying Tips

Yes. However, warranties to vary among manufacturers. All retailers are required to have copies of the manufacturers’ warranties on the homes they sell. Ask to see the warranties covering the home you are considering. By reading each warranty before you buy, you can make sure the home you select has the kind of warranty selection you want. It is important to note that warranties will have different terms and conditions depending on what item is covered. Most manufacturers, for example, offer a one-year warranty on defects or construction flaws. Other items, such as appliances, will be covered by the manufacturer’s warranty that is a separate from the warranty from the home itself.

tips5 Mobile Home Buying Tips

Most buyers will receive warranties from the manufacturer, the retailer, the transporter, the installer, and the appliance manufacturers. Make sure you understand what each warranty covers, how long the warranty lasts, what to do to get service and who will perform the service.

There are other documents that should also come with your new home. One is the home owner’s manual explaining what to do if something goes wrong with your home. This manual is required under the HUD Code. The other documents include the manufactures warranty information of all of your appliances.

tips7 Mobile Home Buying Tips
The many options you can choose will probably include cabinet and window design, wall coverings, wood burning fireplaces, appliance packages and floor coverings.  Some models and manufacturers offer more custom options than others. Ask your retailer what options are offered on homes he or she sells.

tips8 Mobile Home Buying Tips

There are three basic options you can consider. First, you can place your home on land you own or intend to buy. If you choose this option, be sure to check zoning laws, restrictive covenants and hookup regulations. Second, you can place your manufactured home on a leased home site in a manufactured housing development. Third, you can decide to buy a home already on a site in a planned community.

tips9 Mobile Home Buying Tips
If you are placing a home on your own land, your retailer can provide advice on how to prepare the site. In many cases, the retailer has experienced crews that can handle the site preparation and installation work. By contracting with the retailer for installation, you have one business to hold responsible for the home, the sales transaction and installation completed to your satisfaction.

When arranging for installation, be sure that your site is accessible by the truck transporting your home. This site should be as level as possible. If you will be living in a land/lease community, the community manager may take care of site preparation. Ask about this and any other costs before signing a lease. Community packages may include additional items, such as garages, driveways, decking, storage sheds and landscaping.

tips10 Mobile Home Buying Tips

Financing is available through retailers and also through commercial finance companies, banks and credit unions. For qualified buyers loan backing through the Federal Housing Authority or Veterans Administration is also available. Make sure you understand all your financing arrangements.

tips11 Mobile Home Buying Tips

Most people buy their manufactured homes from a retail sales center. Some retail centers are owned and operated by a home manufacturing company; most are independently owned and operated. You should use as much care in choosing your retailer as you do in choosing your home. A full-service retailer can usually arrange financing and insurance for your home, and will probably be the person you will contact for warranty service. A good way to find a reputable retailer is to talk with friends that live in manufactured homes or visit our retailer page for details.

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Manufactured Home Myths

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Manufacturing practices and construction standards have changed a lot in the
last 50 years. Today's manufactured home has evolved from the 1950's trailer
into a modern, spacious, comfortable, durable, year-round dwelling for over 18
million Americans.

The facts cannot be ignored. More and more South Dakotans are turning to manufactured homes to meet their housing needs. No longer considered a stepping stone, today’s manufactured homes are occupied by the people who enjoy high-quality, long-term housing.

Where can I put my Manufactured Home?
There are many site location possibilities for a manufactured homeowner in South Dakota. Most homes are placed in a subdivision or manufactured housing park, while rural residents enjoy the freedom of placing their manufactured home on private land. Each choice has its advantages.

Mobile home cost per square foot.
There are many site location possibilities for a manufactured homeowner in South Dakota. Most homes are placed in a subdivision or manufactured housing park, while rural residents enjoy the freedom of placing their manufactured home on private land. Each choice has its advantages.

Mobile home cost per square foot.
The average cost per square foot for a manufactured home is about $28.00 — almost one-third the cost of a site-built home.  The average cost of a manufactured home in South Dakota is $34,600 constructed at an average square footage cost of $28. On the other hand, the average square footage cost for a site-built home is $68.

Based on square footage cost, manufactured homes are less than half the cost of site-built homes. Utilizing the latest construction techniques, manufactured homes are energy efficient and provide lower utility costs. Most manufactured homes are delivered complete with all fixtures, major appliances, carpets and drapes.

Manufactured home value.
According to recent state studies, manufactured homes do not depreciate in value. Nor do manufactured homes depreciate the value of neighboring site-built homes.

Manufactured home v/s site built houses.
Manufactured homes are the fastest growing segment of the U.S. home market. Recent statistics show that over 45% of the single family homes sold in South Dakota are manufactured homes.

Are manufactured homes durable?
Just as site-built homes are constructed according to a specific building code to ensure proper design and safety, manufactured homes are constructed in accordance with the Federal Manufactured Home Construction and Safety Standards, in effect since 1976. This building code is administered by the U.S. Department of Housing and Urban Development (HUD). HUD regulates manufactured home design and construction, strength and durability, fire resistance and energy efficiency. No manufactured home may be shipped from the factory unless it complies with the HUD Code and received the certification from an independent, third-party inspection agency. This is your assurance of a safe, quality constructed home.

Manufactured homes materials used in construction.
Manufactured homes use materials that are identical to the materials used in site-built homes.  Did you know that today’s manufactured homes can be decorated to suit your tastes, lifestyle and your budget? From gourmet kitchens to vaulted ceilings, fireplaces and bathrooms with recessed tubs and whirlpools, the choices are endless. You can even select the carpeting, cabinets and bathroom fixtures that you’ve always dreamed of.  In many cases these comforts, including furniture and appliances, come complete with your new manufactured home. Just step in and start living in style!

Mobile home fires per capita.
According to recent insurance research, there are fewer than 30% fewer fires per capita than in site-built homes.

 

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