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Posts Tagged ‘santacruzsentinel’

MH Community Owner Seeks $211 Month Increase per Site

June 14th, 2016 Comments off

Calif__watsonville__pinto_lake_mobile_estates__park_brokerage__creditWaterhouse Management Corp. of Roseville, California, which runs the Pinto Lake Mobile Estates in Watsonville, CA, has asked for a $211 a month across the board increase for all the homeowners at the 177 site manufactured home community (MHC). Waterhouse contends the county’s formula for determining annual rent increases does not generate a fair return.

The increase would add $448,000 additional funds annually, boosting yearly revenue to $1.4 million, as santacruzsentinel tells MHProNews. Built in 1975, 50 percent of the homes are multi-section.

Pinto Lake MHP bought the property in 2004, an LLC controlled by Ken Waterhouse which manages other MHCs in Santa Cruz County.

Homeowners are concerned that those seniors living on Social Security will not be able to afford the increase, and will be forced out, and possibly become homeless. “We are very concerned about the far-reaching effects,” said attorney Melia Powell of Senior Legal Services, noting the formula works out to an $8 a month increase for 2016.

Rick Halterman, a member of the Santa Cruz County Mobile and Manufactured Home Commission, said most of the residents are low income, but many people pay about $431 a month for site rent. About 65 percent of the residents are Latino. ##

(Photo credit: Park Brokerage–Pinto Lake Mobile Estates, Watsonville, Calif.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily business News-MHProNews.

Manufactured Homes a Bargain in Bay Area

April 6th, 2015 Comments off

mfg house   resident owned parks  californiaIn Mountain View, California Rod Fox and Emily Gwynn left their $2,540/month, 800 square-foot apartment and moved to a 1,370 square foot manufactured home (MH) in Adobe Wells Mobile Home Park in Sunnyvale, CA. In the Bay Area, where median home prices hit $782,000, they are paying about the same as for their old apartment, but the MH only cost $219,000 and they have three bedrooms and two baths, as well as homeownership.

Lee and Carmelita Clark sold their five-bedroom luxury home on a golf course in Vallejo for $475,000 to be near their children in the Bay Area. They could not afford home prices either, but they did find a manufactured home in the age-restricted Tropics Mobile Home Park in Union City, only 25 minutes from their family. For $222,000 they bought a 1,600 square foot MH with a fireplace and granite counter tops in the kitchen.

But manufactured homes are not the answer to the escalating house prices. No new MH communities have been built since the 1970s. Says Glenn Gilliam, president of Alliance Manufactured Homes, where both couples purchased their homes: “The mobile home market is saturated. You can’t buy land in Sunnyvale and build another mobile home park. Land in Sunnyvale is $5 million an acre.”

Some homes have been around for 30 or 40 years when these communities first opened. Alliance buys three or four older MH each week for reconditioning and resale, but from 2013 to 2014 sales of new homes increased 44 percent, from 114 to 164. The company expects annual sales to increase 15 to 20 percent. The sale price of homes in the larger Bay Area region has risen since 2009 from $209,000 to $289,000.

While MH do not appreciate the way site-built homes might, and the interest rate is often a few points higher, and the lack of new MH communities may put upward pressure on home prices and site rents, santacruzsentinel tells MHProNews Fox and Gwynn and the Clarks are pleased with the choices they have made. ##

(Photo credit: santacruzsentinel–California manufactured home)

matthew-silver-daily-business-news-mhpronews-com  Article submitted by Matthew J. Silver to Daily business News-MHProNews.

Manufactured Home Buyers could Receive Assistance

March 25th, 2014 Comments off

Capitola, California city officials propose to apply for $500,000 in community block grant funds from the state for first-time homebuyer assistance and housing rehabilitation, enough for three years of loans, staff time and the cost of administering the program by the Housing Authority of Santa Cruz County. As santacruzsentinel.com reports, the program would make loans to people who earn less than 80 percent of the median income, which is $52,900 for a family of two, or $66,600 for a household of three. They would be eligible to buy a home priced up to $383,000, a limit set by the Department of Housing and Urban Development, MHProNews.com has learned. Manufactured homes are included in the program, and many of them are priced below the upper limit. Guidelines limit city assistance to no more than 50 percent of the purchase price, and payments made by borrowers support future lending. The rehab loan program would have the same income limits, but the three percent interest would not be assessed until the property is sold. Additionally, seniors 62 and older could be eligible for $7,500 grants.

(Photo credit: sfgate.com–manufactured home)

Measure would Build more Affordable Housing in California

September 4th, 2013 Comments off

In an opinion piece in the santacruzsentinel, Mardi Brick says since California eliminated funding for redevelopment programs in 2011, 20 percent of which was for affordable housing initiatives, more people on limited incomes are turning to manufactured homes. Noting there are 92 manufactured housing communities (MHCs) in Santa Cruz County, and 5,880 in the state, Ms. Brick says there are two bills in the state Assembly to help ensure the existence of affordable housing. SB 510 would prevent community owners from forcing residents to purchase the land their homes sit on. SB 391 would promote job creation through a program to build affordable housing across the state. MHProNews has learned Ms. Brick is a member of the Santa Cruz County Manufactured Mobile Home Association.

(Photo credit: MHVillage–Parkview Estates, California)