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Posts Tagged ‘real estate agent’

New York Times reports Long Island “Mobile Home Park” resales command $1 Million

August 28th, 2014 Comments off

montauk-shores-manufactured-home-community-credit-new-yorktimes-bryan-smith-posted-daily-business-news-mhpronews-com-It isn’t just Aspen, Colorado or Malibu, California that one sees 7 figure sales involving manufactured homes in ‘mobile home parks.’ The New York Times  reports to MHProNews  that living-in or getaways-to Montauk Shores manufactured home community on the East End of Long Island has been enjoyed by celebrities such as Andy Warhol and Dick Cavett.

Montauk Shores’ Mr. Alpha Doughan had a contract years ago with Liberty Homes, and sold $5,000 pre-HUD Code mobile homes back in the day on home sites that went for only $10,000. 

It was dad’s legacy,” said Merry Doughan, about the otherwise unassuming factory-built home they are asking $1.1 million for today.

152 owners at Montauk Shores pays $1,100 a year in condo association fees and roughly $1,200 in taxes, with site fees of $1,415 a month. This is a bargain in an area where nearby houses rent for that much a night.

Real estate broker Helen Stubbmann, who listed Doughan’s home says, “If you think about it, it’s still one of the best deals on the East End.” 

The old real estate mantra of “location, location, location” clearly applies to manufactured homes, and facts like these defies those who say that you can’t make a profit re-selling one. ##

(Editor’s NoteManufacturedHomeLivingNews.com plans a follow up on this location in story set for September, you can get an alert on that and other stories free by signing up at MHProNews.com/subscribe.)

(Photo credit: Bryan R. Smith/The New York Times)

In some Markets Appraisals Equal Selling Price

May 15th, 2013 Comments off

CNNMoney reports as home prices increase and inventories shrink, appraisers are valuing homes at or above their values, according to chief economist Lawrence Yun of the National Association of Realtors. A Seattle-based real estate agent says none of the appraisals for the homes he has sold this year have come in below the selling price. In some hot markets appraisals are above the selling price. As MHProNews has learned, in West Covina, Calif. an appraiser wrote up the appraisal at the purchase price. Agent Eric Tan says, “I was able to sell the client’s home for about $40,000 more than I thought the appraiser would value it.”

(Photo credit: Paul Sakuma/Associated Press)

More Lucrative to Develop MH Property

January 24th, 2013 Comments off

MHProNews has learned from oregonnow that one of the 14 MHCs that have closed in the Portland, Oregon area since 2005, Baseline Woods Mobile Home Park, in Aloha, will soon see the rise of 230 apartments and 300 homes. While the developer says the housing is needed to respond to job growth, real estate agent and chair of a community group, Eric Squires, states the MH closure means there is less affordable housing in the area.

(Image credit: MapQuest–Site of former Baseline MHC)

City Council Repeals Rules Governing MH

September 20th, 2012 Comments off

Following-up on a story we published Aug. 7, 2012 regarding measures passed by the Marion, North Carolina City Council July 17 to regulate placement and structural standards of new manufactured housing, mcdowellnews reports the council voted unanimously to repeal the new rules. Local real estate agent Mark Shuman pointed out the new rules were contrary to federal and state law because they restrict siting of new and pre-HUD Code manufactured housing. Additionally, the requirements to make their roofs and foundations blend in with site-built homes infringes on property rights, and puts an economic hardship on people of modest means. The proposed regulations did not apply to manufactured housing in communities, to modular homes or existing homes. Shuman suggested in the future the planning board and the city council need to research their proposals better. MHProNews has learned Mayor Steve Little said he will appoint a committee to focus on different rules, suggesting it meets with manufactured home dealers, real estate agents and landlords.

(Photo credit: gfhomesandland)

The Other Side of the ND Housing Shortage

January 3rd, 2012 Comments off

MHPronews.com has reported several times about the North Dakota oil boom that is drawing thousands seeking well-paying jobs, spiking the demand for ASAP housing. “Man camps”, modular dormitories for mostly male oil field workers have sprung up around Williston, ND. Some people are sleeping in cars, tents, and RVs. The strong demand for single-family factory-built homes, is partly being met by Chief Custom Homes, Magnolia Homes, and Champion Homes of Nebraska. The TusconCitizen tells us another side effect of the money pouring into the area has produced a housing demand in Arizona. Real estate agent Rocky Parra of Gilbert, AZ has sold eight homes in recent months to North Dakotans. “A lot of people have struck it rich,” he says. “Oil companies are coming in and buying businesses and land. They’re selling up there at the peak and buying down here at the bottom.” Home prices have fallen by more than double in Arizona. Blaine Bjella sold his cabin and six acres to an oil company that made him an offer he could not refuse, and bought a $5 million 8,000 square foot mountaintop estate with a view of Phoenix, Mesa, and Scottsdale for $2.1 million cash. He returns monthly to oversee his auto repair and truck businesses, and knows more than 50 other North Dakotans who are moving to Phoenix. The population of Williston has grown by 15 percent in the last decade.

(Photo credit: Wikipedia)

Malibu and Maxey reminds us some ‘mobiles’ are worth millions

September 8th, 2011 Comments off

Paradise Cove Malibu CA McClatchy News ServiceCalgaryHerald reports on a story MHProNews.com has previously covered, that even ‘mobile homes’ (sic) on the Malibu, CA coast can be worth millions.   Two gated, ocean-view communities in Malibu – Paradise Cove and Point Dume Club – struggled during the downturn. “In 2008 and 2009 people were just scared to death, even the wealthiest of buyers,” said Kirk Murray, a real estate agent with Pritchett-Rapf who lives in Paradise Cove. But these home sites to celebrities have rebounded. Sale prices at Paradise Cove reached $2.5 million last year, and at Point Dume a sale is pending on a two-bedroom manufactured home listed at $1.25 million.  One home listed has a stunning views of the ocean, more than 2,300 square feet of living space, a broad deck, two bedrooms and two baths for a cool $2.275 million dollars. California’s manufactured housing market suffered a 33 percent drop in sales and a 47 percent plunge in prices over the last five years, per the California Department of Housing and Community Development. Jess Maxcy, president of the California Manufactured Housing Institute, told the CalgaryHerald that these are ‘not’ mobile homes, “Most homes are never moved after the initial installation,” Maxcy said. Property taxes on manufactured homes are  about the same as for a site-built house on the same lot, Maxcy said. “The difference is in a park where you are leasing the land,” he said. “You pay the property tax rate only on the home. The owner of park pays the property taxes on the land.”  Tom Spencer, a retired commander with the Los Angeles County Sheriff’s Department, bought a three-bedroom, two bath home for $650,000 and he spends about $1,200 a month on his lot rent, water and electricity. Spencer said, “I couldn’t be happier.”  Paradise Cove newcomer Gina Carlson moved into her 1,500-square-foot, $645,000 home in June. “I took the leap that some people can’t get their heads around,” Carlson said, adding she wouldn’t go back to her previous place. “Maybe the good energy of Malibu brings out the best in people,” she said.

(Photo credit, Paradise Cove, McClatchy News Service)