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You won't believe the calls I have gotten on a MH!

By Toni M. Rose

Real Estate Agent with Prudential C. Dan Joyner Realtors

September 02, 2008 05:49 AM

I have never had so many calls on any one property as the MH I just listed last week. I have had 9 showings and over 20 calls in the past week!

I think the FHA DP program disappearing is the driving factor here. Unfortunatly, The home won't pass the FHA guidelines, but it's good to know there are buyers out there looking again. YEAH!!

I will be looking for more lower dollar listings ( under 100k ) in the coming weeks, since that is what looks to be hot right now. I'm wondering if it's the same in other area's on the low end homes.

Have a great week.

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Angelia Garcia

Pure Realtors - Dallas, TX

What is MH? Yes, in our market as well, the low ends get sold alot quicker. Investors buying the majority.

Sep 02, 2008 06:24 AM

Beth Forbes

The mortgage help you want when you need it. - Center Valley, PA

Your 24/7 loan officer

Manufactured Homes are a great source of affordable housing. There are a number of lenders who do not have the FHA foundation requirements to worry about (those that sell to Fannie and Freddie) but typically the buyer must put at least 10% down, as required by the MI companies.

In my marketing area, homes under 200,000 are the hot items. Under 150,000 is even better. Once you get under 100,000 the neighborhoods start getting a little unsafe. Just think, at a purchase price of 150,000 with 5% down the P&I payment is just under or around 1,000 per month. At 100,000 purchase price the payment is around 675 per month. That's getting pretty close to market rent rates depending on where you live.

Sep 02, 2008 06:26 AM

Jim & Maria Hart

Brand Name Real Estate - Charleston, SC

Charleston, SC Real Estate

Hey, Toni. I would have to agree that homes under the 150K mark are not lasting long. I think that these are the homes that are making clients who are renting make that move to the owning side of real estate, it just makes more sense for them. Thanks for sharing and I wish you all the best, Jim

Sep 02, 2008 06:32 AM

Jeremy Blanton

Myrtle Beach Homes Blog - Myrtle Beach, SC

Myrtle Beach REALTOR®- myrtlebeachhomesblog.com

In our area, anything under 150 seems to move rather well if it is in a desirable area...unless of course it is a condotel.

Sep 02, 2008 07:00 AM