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Welcome Home!! Welcome to your new, cozy home. This home features three bedrooms and two full baths. The kitchen comes equipt with all you need except your dishes! The glass topped electric stove, side by side double door refrigerator and dishwasher are included. Table space is in the kitchen. Gas is available if you wish to replace the stove with gas. The laundry room comes with a clothes washer and dryer. Central air cools the home. A two car carport will keep your groceries out of the rain and your cars snow free in the winters. This home would be perfect for a couple, single mom or a bachelor as it's 1,050 sq feet.
The home is located inside East Bay Manufactured Home Park, off North Road. East Bay is one of the nicest Parks in the area with easy access to US-23 Expressway and everything Fenton. The lots are a bit larger than most Parks, and the Park does not allow renter or ex-Felons. Most residents are middle age or retired. Small pets are allowed up to 20 pounds. You see neighbors walking and talking most days. The Park owns a lake front lot for residents use to swim, fish, picnic or sun bath. Base lot rent is an affordable $420.00/month. This home is priced at $19,500 cash or new mortgage and we will help with the mortgage paperwork.
Market conditions determine the value and selling price of any home. Don't believe me? Site built homes that were selling for $500,000 before the recession were selling below $400,000 after the recession hit in 2006. The same thing happened in the Manufactured Housing industry only much worse because generally these homes are purchased by lower middle income earners with less stable jobs. There were a lot of repossession which dropped the value of owner occupied homes.
Today's market is unusual. There seem to be fewer owners moving and fewer homes for sale. That drives your homes value up. The old rule "supply and demand" applies. There are a fewer buyers competing for homes. Fairly priced homes in "move in condition" sell fairly rapidly. Others rules still apply like "location, location, location. " Lot rent seems to be moving higher and higher as more parks are sold and the new owners are recovering their costs. I'd be happy to give you my best appraisal. Data Comp will provide a market value based on recent sales
We have other issues, a beautiful newer hone will not sell for as much if it's located inside an older park with rental homes. And we have an image issue, the public thinks of these homes as "trailers" and will not consider them as a real home. But, with real estate now recovering from the recession and their values increasing first time buyers are being priced out of that market. Our buyers seem to fall into two categories, first time buyers and olders wanting to down size. 98% of all site built homes are sold through the efforts of a Realtor, I think it's at least that high in the Manufactured Hone business. FSBOS may be able to find a potential buyer,but have little knowledge of the mortgage market. There's always the feeling that the owner is trying to keep the potential commission for themselves and over pricing the home. Or worse, hiding defects. A licensed Broker can locate the best mortgage provider, based on the Buyers qualifications. A Broker can obtain a deposit and hold it in the Broker's Trust Account, create a legal Purchase Agreement and follow the Purchase until the sale is closed.
Manufactured Homes are titled like an automobile. The Secretary of State of Michigan issues the title. A newly purchased home owner must present the existing Home Title at the Secretary of State , fill out the paperwork for a new Title and pay 6% sales tax plus $95.00 title transfer. If you have obtained a new mortgage, the Mortgage company will likely handle this. The Mortgage holder may hold your title, although, by Michigan law you are entitled to hold it. These homes generally will not be mortgaged through a traditional Bank. There are only two or three companies that will provide new mortgages. Typically you will need a 600 + credit score and 10% down payment. We will help you obtain a mortgage. Note, most parks will not accept ex-convicts or "vicious" breeds of dogs
We are available to help Buyers and Sellers as they journey through the sale or purchase of a Manufactured Home. We've been selling Manufactured Homes in S E Michigan for almost six years and as a Licensed Retail Broker for four years. The State of Michigan holds our license and requires that we maintain a $10,000 Bond.
Over the years we have met and know several contractors who we recommend to handle both large and small projects as well as a wood floor specialist. We happy to provide their names on request.
I don not rely on the sales of Homes as my sole source of income and therefor I am able to charge less commission than my competitors. Homes that I list are advertised on five different web sites and my "For Sale" Signs are in three color and customized for each home. I don't know of any other dealer than can do that.
I have an Mechanical Engineering background and spent over five years on "the drawing board" long before the age of computers. I worked for a Plastics Molding provider and moved into sales. I then went into the plastic production parts supplier side at Gulf + Western and began to sell to the Detroit Three and ended my automotive parts sales in 1995 when the company I worked for went out of business. We did over $80 million sales in production parts and I sold over $28 million to Chrysler with responsibility for the Chrysler Mini-Van instrument panel. I then went into business for my self and eventually sold Manufactured Homes for a large Park Owner. I sold a used home for $75,000, which was a record high for the company, I then decided I could do this for myself. I stated Five Star Homes, LLC five years ago, after almost two years working for a Park's sales office. I have a lot of experience in this business. I am skilled in sales, negotiating, creating unique Sales Agreements, estimating the market value and setting the price based on the buyer's realistic needs. I am well pasted the normal retirement age, but I have no plans to retire as I enjoy helping people sell their home or finding the right home for buyers.