Mobile homes A manufactured home is built at a factory and then transported to a dealer or to a purchaser's preferred location. Traditional or stick-built homes &
Mar 15 2018 47949 1
A manufactured home is built at a factory and then transported to a dealer or to a purchaser's preferred location. Traditional or stick-built homes are built on-site and permanently attached to their foundations.
The use of movable or mobile homes dates as far back as the late 19th century in the United States, when teams of horses transported homes on wheels to beach front properties along the Outer Banks of North Carolina. Mobile homes came into vogue at the end of WWII, as veterans returned home and affordable housing was in short supply. They were often marketed as a practical alternative to renting an apartment. During the baby boom American families trying to find work wherever available, used mobile homes so they could move quickly with job changes.In 1980, Congress approved changing the term ‘Mobile Home’ to ‘Manufactured Home’. Today, manufactured homes are one of many styles of prefabricated homes built in factories, rather than on site, and then taken to the location where they will be occupied. They are usually transported by tractor-trailers over public roads
Today's guide lines have changed for Mobile homes. A few years ago Mobile homes still required a title, similar to that of a vehicle. However for FHA, VA and Conventional Loans it is required that mobile homes are made to be fixtures. Meaning permanently attached to the property. So this requires that the title of the Mobile home must be retired. Due to this change it will most likely increase the taxable value, similar to that of a stick home. Mobile homes were depreciating in value similar to that of your vehicle. While stick homes would hold their value or appreciate with the market. With this in mind it would likely be that the value of a Manufactured home will not decrease as much as it did prior to the new regulations.