Lorraine Burns's Blog

REO's in Mobile/Manufactured Homes on the rise!

Lorraine Burns (Ventura Property Shoppe) — Fri, 24 Jul 2009 09:49:29 -0700

Hi Everyone!

I just received 3 listings this week from banks who have foreclosed or people have given their keys back to the banks on manufactures/mobile homes. There are 2 in Oxnard: Oxnard Shores and Meadowlake; and one in Camarillo: Casa del Norte. The asking prices are very reasonable.

It's a shame that these owners don't know you CAN do a SHORT SALE on a mobile home! Please pass the word that Short Sales can be done on a manufactured/mobile home. It is much better for the owner(s) on their credit report to do a short sale than to get it foreclosed on.

Lorraine

Are we slowing down again?

Lorraine Burns (Ventura Property Shoppe) — Mon, 27 Apr 2009 09:31:38 -0700

The market has been HOT and HEAVY for the last few weeks in the under $600,000 range. This weekend, for the first time in weeks, my cell phone didn't ring off the hook. Is the market turning again? Or did the weather just drive everyone elsewhere? Let's see what happens this week.

Lorraine

Look at an alternative to stick-built houses - Manufactured Homes!

Lorraine Burns (Ventura Property Shoppe) — Mon, 02 Feb 2009 14:05:42 -0800

Hi All! My name is Lorraine and I am a Realtor. I specialize in manufactured homes (mobile homes) in the Ventura County area. I believe that an alternative to the traditional stick-built home is the manufactured home. They are an excellent starter home - better than a condo in my estimation. In a manufactured home you have your own individual space - you are not sharing walls with someone else.

The only drawback that I see is the down payment to get into a manufactured home - but is it truly a drawback? Thanks to the lending on manufactured homes always being tight, the manufactured home has not seen the decrease the traditional stick-built homes have had in value. For any home older than 10 years old, the manufactured home industry has always required a 20% down payment.

So I am here to talk about the alternative of manufactured homes (mobile homes). In Ventura County they are mainly located in parks that contain a clubhouse, pool, different amenities for the home owners to use. The parks are either for all-ages or limited to seniors (age 55 and over). And the spaces in the parks can be owned by the owner of the manufactured home or by the park. When the space is owned by the home owner, this give the mobile home a lot higher value. When you rent the space, space rents here go from $300 per month up to over $1000 per month.

So how may I help you discover the world of manufactured homes? Contact me with any questions by email at LorraineBurns@sbcglobal.net. Or you may visit my web site at LorraineBurns.com.

Lorraine

I am now doin REO's in mobile homes!

Lorraine Burns (Ventura Property Shoppe) — Sat, 24 Jan 2009 17:02:46 -0800

Hi everyone! My name is Lorraine Burns and I help clients buy and sell mobile homes in Ventura County, California. I have a long-time relationship with one bank that will finance mobile homes. They contacted me to see if I would list the homes people are walking away from and turning in the keys! I couldn't believe that even mobile homes were going to be hit by this mortgage crises. But, apparently, they are. With the 20% down that is required to finance a mobile home, I figured we would be spared. But I was wrong. I now have 2 listings with a third one coming up. I still believe that mobile homes are an excellent alternate to the stick built homes. In our area, they are also the most affordable living (in most cases). Lorraine, Ventura Property Shoppe.

My last REO blessed me with a snake!

Lorraine Burns (Ventura Property Shoppe) — Thu, 22 Jan 2009 14:06:21 -0800

Now - don't get me wrong - I am an animal lover. Ask anyone who knows me. I just love animals. And this was my first REO as the sellers agent.

The bank called and said there were people illegally living in the home I was about to sell. They called the Sheriff and had them come out to get the guys out of the home. I got there and told them they had an hour to get their stuff out so at least they didn't loose all their stuff (beds, dressers, couch, TV's, etc.). They also had a boa constructor in a huge 5 foot enclosure. I allowed them to move everything onto the front porch so they could come back and get it all.

I came back to inspect the home a week later and all the stuff they had moved out onto the porch was still there including the snake. I know nothing about snakes but I do know any animal that goes without food and water for any length of time is going to die. So I got some water into the enclosure for the animal. Then I call animal control. I asked them to come pick it up which they kindly did. I also offer them the enclosure since I know it's worth quite a bit of money--they could sell it with the snake and make some extra money for the shelter. But the officer didn't have room in his truck for the enclosure.

Thank goodness all turned out well. The snake has a great new home and is fine. But let me tell you, I sure was worried and dumbfounded by the actions of the old owners.