Florida's insurance market for manufactured housing is facing some unusual problems.
The insurance problem comes in the wake of 2004's hurricanes. After the claims, there have been subsequent disruptions in the availability of insurance.
One report quotes a New Smyrna Beach, Florida RE/MAX realtor, Nina Schultz, as saying that owners of mobile homes may find themselves essentially left out when they seek insurance for their homes.Read More
There is an article in todays WSJ about the lengths that stick-built homebuilders are going to assure nervous homebuyers. KB Home offers "price protection" in 35 markets. Ryland is doing the same when buyers bring it up.
This follows dramatic discounting schemes. Some offer free upgrades (granite countertops, bonus rooms, et al.) Hovnavian even offer discounts of more than $100,000.Read More
Today is Super Tuesday. The primaries today will allocate, at least for first ballots, the loyalty of many of the delegates for the upcoming Presidential nominating conventions. If the candidates were listening to residents and their advocates, what would we say?
Manufactured housing residents share a lot in common. They are systematically underserved by scores of institutions -- the financial markets, local zoning, and even in some cases by consumer protections.They represent about one in six households in North Carolina and about one in twelve nationwide. It is a huge voting bloc, if it was ever organized.
What issues would such a group seek? Keep in mind, I am talking about an agenda distinct from the manufacturers. That's an important set of concerns, too, but it is different. Oh, and it can be found here.
Going back to the resident agenda, it is not a simple question. For one, its unlikely that the group would unite under a common political party. Economically, many mobile home park residents would fall in moderate income groups. Others, particularly retirees, might have less income but higher than average levels of wealth. The Hispanic bias in the group might tilt them to Blue, but the rural and military demographics favors a shift to the Red.Regardless of the party, the notion of what their agenda would like remains. In the spirit of such aRead More
Freddie Mac explains in their November 15th, 2007 Single Family Seller/Servicer Guide Bulletin that delivery fees will change for mortgages secured by manufactured housing beginning on March 1, 2008. Freddie Mac buys manufactured housing mortgages with "real property" designation.
The "real property" designation is a huge distinction. In most states, that means that theRead More