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LIVING IN AN RV- CASUALTIES OF THE ECONOMY

By
Real Estate Broker/Owner with St.Cloud Homes

One would think with gas prices soaring daily, RV interest would be on the decline. Gas guzzling land yachts , known for poor fuel economy 8-10 mpg, are commonplace sights in Florida. Made popular by retired Baby Boomers seeking freedom on the open road after escaping years of structured routine, home maintenance, and conventional lifestyles, empty nesters made motor coach living fashionable.  Some of these units cost more than starter homes.

But lately, despite the bleak news at the gas pump, a new trend is emerging. Victims of the economy the exponential casualties of the mortgage crisis appear to be young renters displaced by foreclosure of their rental homes.  They are Innocent victims of the mortgage crisis in America.  They paid their rents on time, only to discover their landlords have pocketed the profit and not paid the mortgage on the rental home when the eviction notice gets nailed to their front door. 

Seeking affordable remedies, as an alternative to homelessness  many of these former renters are looking at older RV's as an alternative way to live inexpensively.

 AN AFFORDABLE ALTERNATIVE

For roughly the equivalent of first and last month's rent plus a security deposit, renters are looking at older, larger Motor homes as a viable alternative for permanent living.

  
Many of these older units, are nicely appointed, have been refurbished, and can comfortably provide a couple or small family with a decent place to live on a short term or long term basis.

The larger units offer a "Living Room" couches that extend into beds.

Dinettes which convert to sleeping areas

Full kitchens with refrigerators, ranges, ovens and microwaves.

Pull out pantries for canned good storage.  Some even feature amenities such as central vacuum systems, built in appliances like blenders, and plenty of storage both inside the unit, and below it.

And bedrooms with either Queen size beds or twin beds. Many have full bathrooms although compact, they are purposeful including bath tubs, and showers.

The cost of these vehicles new, is staggering. Ranging from $40,000 to well over $100,000+  But the resale market on older units is rising fast.

And most are self contained. Utilizing three way power such as electricity, propane, and generator power.

  NEW DEMAND OF THESE OLDER UNITS, ARE LIKELY TOCREATE A NEED FOR PLACES TO KEEP THEM.

Many former Recreational Parks gave way to new construction of multi unit housing such as condos and Town Homes, many campgrounds, were sold off as a result of urban sprawl.  The agricultural lands that once graced Osceola County here in Florida, have subsequently fallen as a result of higher Property Taxes and the opportunity to cash in when the builders were seeking large properties to develop...that is until the boom went bust.

Most Home Owner Associations  forbid Recreational Vehicles.  This presents opportunity for the re-creation of the recreational park as an alternative for economical living. Could this possibly be the trend of the future?

 If the demand for RV's continue to grow as a by product of the housing crisis the demand for land may follow. 

 

 

Posted by

St.Cloud Homes

Allison Stewart Broker, SFR, CDPE 

407-616-9904www.kissimmee-stcloudflhomes.com

                                                                                                       

    St. Cloud Homes YOUR Local Real Estate Experts serving Home Buyers/Sellers in Kissimee, St. Cloud Fl, Harmony, Lake Nona, Anthem Park, Bay Lake Ranch, Lake Lizzie, Reunion, Celebration, Lakepointe, Steven Plantation, Acadia Estates, East Lake, Windermere, Bay Hill. Our unparalleled service begins with YOU.

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Comments (12)

Jim Dvorovy
Cutler Real Estate - Canton, OH
REALTOR - Canton Ohio Real Estate

Hi Allison - I think you onto something. A local U-Haul employee told me they need to secure the moving trucks each nite, or homeless people will spend the nite in the back of the trucks. RV's are really decked out, and would be suitable short term living arrangements, as you said.

May 29, 2008 11:38 PM
Aida Pinto
Independent Real Estate Broker - Los Angeles, CA
Real Estate Broker (562) 884-6196

Hi Allsison, great post.  Very interesting.  I've always wonder  about the innocent victums but always thought that it was the Chirldern who were the innocent, I know have a new prespective--never thought about the innocetn renter!

Thank you for sharing

May 29, 2008 11:40 PM
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

I've known folks who have lived in their RV's in our area.  Now you are right the parks are gone and unless you have family or friends who live in a non-HOA neighborhood you don't have anywhere to park them. 

May 29, 2008 11:41 PM
Allison Stewart
St.Cloud Homes - Saint Cloud, FL
St. Cloud Fl Realtor, Osceola County Real Estate 407-616-9904

Thanks Jim- That is an interesting point about Uhaul trucks.  Really it is disheartening-that people are being displaced who have really done nothing wrong.  I have said for a long time-owning an RV is insurance that you would have a place to live if everything went wrong-even if you can't afford the gas to drive it.

May 29, 2008 11:45 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Name a housing type and there is a market for it.  Folks will gravitate to low cost rentals of almost anything.  It's the nature of the human to survive and they need food and shelter. 

I wouldn't be surprised, in this credit score driven market, to see "public housing" reappear.  Municipalities that purchase entire buildings to house folks that need housing.  Section 8 doesn't solve all problems.  But, investor home owners may have to rethink the "no Section 8" applicants.

Times they are a changin'.

May 30, 2008 01:00 AM
Allison Stewart
St.Cloud Homes - Saint Cloud, FL
St. Cloud Fl Realtor, Osceola County Real Estate 407-616-9904

Aida- Yes recently I am seeing a new wave of homeless who through no fault of their own (they paid their rent) are out in the street.

CINDY- I seriously think RV camps will make a come back- as an alternative to Shanty-Towns of the 1930's

May 30, 2008 01:01 AM
Jeff Turner
RealSatisfied - Santa Clarita, CA

Allison... this is a very interesting observation. I have an RV Industry client that I'm going to send this to.

May 30, 2008 02:48 AM
Paddy (Patricia) Pizappi
Better Homes and Gardens Rand Realty - Pine Bush, NY
Real Estate Associate Broker Hudson Valley NY

I had not thought about the renters of these foreclosed investment properties.  Wow it must be really bad in FL with so many people having invested in second homes and rental properties.  Great alternative for the renters though and maybe you can help them to be able to buy some of those foreclosures. 

May 30, 2008 02:54 AM
Steve Homer
The HBH Group (Keller Williams affiliate) - Round Rock, TX

I have always wanted one of these, but for very different reasons.  I guess if I had one now, I could be renting it out cheap!  Sad post, but true of the economy at the moment!

May 30, 2008 03:24 AM
Shannon Aldrich
Keller Williams Coastal Realty - Rye, NH
NH & Maine Real Estate Seacoast

It is even getting tougher to find a Wal-Mart to park in. I still want one for travel even with the price of gas.

May 30, 2008 03:43 AM
"The Lovely Wife" The One And Only TLW.
President-Tutas Towne Realty, Inc. - Kissimmee, FL

Allison...

This living in an RV thing has been around in Polk County for quite awhile. They have school buses stopping at several of the parks in our area. Looks to me like the idea is spreading and perhaps BB and I should consider building an RV Park :)

TLW...ROAR!

May 30, 2008 08:21 AM
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

That seems like a better alternative than being totally homeless.  Interesting thoughts.

Jun 01, 2008 02:41 PM