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Posts Tagged ‘HOA’

Stunning 2 Million dollar manufactured home, but TMZ and media struggle to ‘get it’

August 30th, 2013 Comments off

betsy-russell-saw-star-1,999,999-manufactured-home-'mobile-home'-credit-redfin-mls-posted-daily-business-news-Saw star Betsy Russell recently listed her lavish, custom manufactured home overlooking the Pacific Ocean in ritzy Malibu for just a buck under a cool 2 million. TMZ and other media outlets both raved and ranted. “On top of the nearly $2 million price tag, the HOA fees will run the new owner a whopping $3,565 a month. That’s another $42,780 a year.” The media has little notion of the advantages that millionaires such as Russell, or more millions of owners of more modest means have with modern manufactured homes, including those placed in land lease communities. What sounds like a lot of money for site fees (aka “lot rent”), in many jurisdictions means you have little or no real estate taxes, and may have little or no personal property taxes. This is why the listing agent can correctly boast that it is the most amazing home-with-a-view value under 2 million dollars in Malibu, CA. For those who don’t know that market, another manufactured home sold in the same community for 1.1 million. ManufacturedHomeLivingNews.com will showcase Russell’s manufactured castle as a “featured home” as part of an article which will include 17 photos. Check back for a link here once its posted, or sign up for our popular, free twice weekly emailed news and tips alerts to get the link to that upcoming story. ##

(Image Credit: MLS/Redfin)

Proposed Texas Law to Reinforce Federal Protection

March 15th, 2011 Comments off

As documented on HousingWire.com, a Dallas Homeowners Association (HOA) was scolded for foreclosing on a National Guard captain’s home while he was serving in Iraq.  He owed delinquent neighborhood dues of $3,500 on a $300,000 house that was paid off.  Both houses of the Texas legislature have bills pending that would prevent a debt servicer from such foreclosures in the future, and both are expected to pass.  The Senate bill requires the debt servicer to recognize military service and the Service Member’s Federal Relief Act (SCRA).  The federal SCRA is supposed to protect military personnel from foreclosure.

Dispute Over Community Center in Delaware

February 10th, 2011 Comments off

Delaware House Bill 392, enacted in July 2010, requires a manufactured housing community to have a community center available for its residents. As reported in the DelawareOnLine News Journal of February 9, in an August 2010 meeting with state legislators, a homeowners association (HOA) president claimed his community did not allow the homeowners association in Rehoboth Shores to use the community center. The article states the HOA in Rehoboth Shores has never been denied use of the community center, and that legislators were given incorrect information.