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Article by Ray Henke

Just like all real estate, there is no doubt that the economic decline has impacted values in manufactured home communities However, condo parks have been harder hit than the broader community because financing for manufactured homes in condominium-classified parks completely disappeared for the last couple of years. Except for hard money loans, private financing or VA loans, money simply dried up. Investors shied away from any loan that was not FHA-insured which also included Reverse Mortgage or Home Equity Conversion Loans. And it’s a vicious cycle. Without loans, the sales market becomes stagnan and without sales, appraisers can’t find comparative values to provide a reasonable worth for your homeFortunately, back in July Congress passed sweeping legislation that removed the condo exclusion, but it wasn’t until May that the Mortgagee Letters were released paving the way for financing opportunities.However, the hard work has just begun.Before a single loan can be originated, the park itself must receive approval from Housing and Urban Development.This is no small feat and even once all the documentation is presented to the local overseeing HUD agency, the wait time for approval is 6-8 weeks.There are many anxious lenders and homeowners that are excited about the new lending possibilities and the fact this will ultimately add more vibrance to the park community as well as increase the value potential of your home. Yet, this is still a time to proceed with caution and not make any decisions until your management or HOA has expressly declared that the park has received approval.The reason this is so critical is that over-anxious lenders are often encouraging a quick start of the loan process by getting an appraisal.This can have serious repercussions in a volatile market when the shelf-life of an appraisal is approximately two months.Since most lenders don’t have an in-house underwriting department and the waiting line for an file evaluation is sometimes 3-6 weeks, your appraisal could be old before you start.In addition, even once the park receives approval, there is another rigorous checklist for manufactured homes themselves.First and more importantly your home must be newer than June 15, 1976.No matter how beautifully renovated your home is or how updated its appearance, there are no exceptions.The home must also be in its original location-so if the home was moved from another park, FHA will not insure the loan. The home must also be titled as real property and cannot be located in a flood plain. Additionally, the home must be on a permanent foundation which must not only meet the local jurisdictional guideline but the HUD Permanent Foundation Guide For Manufactured Homes and an engineer must testify to this fact.However, please don’t run out an install a foundation system prematurely. This can generally be incorporated within the scope of the loan and should be the very last step of any loan process.There is no sense spending several thousands of dollars on a foundation only to find out there are other issues that will complicate the loan.When choosing a lender, carefully evaluate your options.Ask specifically for referrals from other manufactured home owners.You want a lender who understands that manufactured homes have specialty requirements and knows those requirements backwards and forwards.And when choosing a foundation specialist or engineer for the certification, make sure you are working with one who will not charge you for a “failed” report and will your interests by not obligating you to a foundation retrofit or repair until the loan has the approval greenlight.

Article by Bo A Miller

Why get mobile home insurance? What is it all about? While most of us believe that our home is an investment that keeps us secure, we rarely think and often neglect how to protect the roof over our head and everything under it. Just think about what would happen if your home gets caught on fire? How about a dreadful flood? We all hope and pray that we will never have to experiencethese tragic events but being prepared is waybetter than paying the ultimate price when something like this happens. This is where manufactured home insurance really helps you out.

In the last decade, manufactured homes or those that were built in a factory have changed drastically in terms of materials, make and build. This has been aconsiderably great factor in people trying to protect their home and properties. The most logical and wise thing to do is to get yourself a manufactured home insurance policy that normally includes or covers protection for your home and other structures (home structure repair cost), your personal property (cost of valuable personal property items that are damaged or lost), family liability (assistance in legal representation related to claim matters that are covered), guest medical (cost of medical expenses for your visitors that have acquired injury under your roof or within your property), and additional living expenses (temporary housing reimbursement for houses under reconstruction).

There are manytypes of home structures and of course there are different policies for varying residence types. For manufactured homes, the policy normally covers the entire structure. However, some manufactured home insurance policies will or may require an additional or optional policy for structures such as garages and sheds. It is alsowise to consider what type of horrible events that could occur. These events could result in major damage to your home and belongings. The most common events include fire, lightning, frozen plumbing, vandalism, weight of ice and snow, smoke, explosion and hail. Manytimesinsurance companies exclude “acts of god” like earthquakes, floods and other conditions such as fungus, bacteria, or dry rot. This would mean you need to buy an additional policy in order to be protected against these events.

As a customer and a homeowner, you must think carefully and be smart in choosing the best insurance. Weigh the pros and cons and do not hesitate to ask questions for certain concerns or policies that you may not understand. This will help you in deciding what coverage options you might want to have and what you should forego. Determining what policy options are best for your manufactured home is indeed a valuable step in this process. You may have a homethat has been built for over 10 years already, you might want to talk to your agent and see what your options are. Maybe you should get an actual or replacement cost coverage? You can also take a look at transport insurance. This inclusion is a good idea as it protects your home from the possible damage it may incur while being transported from the factory to the site.

For many homeowners the houses they live in are just not the ideal homes for their needs.  Changes in family sizes and desires can make most homeowners contemplate that need to plan a home remodel.  However, the smart homeowner will recognize that before they tackle that home remodel, they need to plan well for this important investment.  Here are a few items that all homeowners contemplating a home remodel should understand before deciding.

Setting Your Priorities on Home Remodeling Plans

The priorities you decide on for your home remodel will depend on how long you will be staying in your present home.  If this becomes the home you plan to stay in for a long time, you may want to itemize your list of remodeling projects.  Maybe create a timeline with your life transitions and space your projects with it.  Kids going to college, parents getting older are all items to consider when itemizing your home remodeling list.

If your planning to stay in your home for only a few years, then look at budget conscious home remodel upgrades.  Look to invest in what will make your home more of an investment for resale later.  That could include upgrading cabinets, faucets, a front door, or windows to help you recoup your home’s investment.

Set a Sensible Budget on Home Remodeling Plans

Never start a home remodeling plan without sitting down and writing it all down.  This will help to ensure that you don’t overlook small details in the planning process.  Give yourself at least a 15 percent cushion for the unexpected expenses that tend to crop up.  Make sure that you don’t overextend yourself with a home remodel project.  You will always want to make sure that you have a home remodel project that you can live with financially.  Contact your homeowners’ insurer to make sure that you’re fully covered for the home remodel and the cost of rebuilding your home if there is a catastrophic loss. 

Get the Best Deal on Your Home Remodel Plans

Whether your home remodel plans are big or small, make sure that you get several bids for it.  Make sure to have face-to-face interviews with all the contractors and compare material and labor costs as they can vary greatly.  Look at energy-efficient products for your home remodel as you maybe eligible for federal tax credits, state incentives, or rebates from the manufacturers.  If your the do it yourself kind of person, some of the simpler projects might be worth doing and omitting from your home remodel bids.

Refinancing a manufactured home can be a great way to lower not only your interest rate but also your monthly payment. But there are 5 mistakes that many people make that you need to avoid in order to get the best deal for your financial situation.

1. Picking the wrong reasons for choosing a manufactured home lender. Most people fail to look at the whole picture when it comes to choosing a lender. That low interest rate that being dangled in front of you may look good but there is more to consider then that. Many lenders try and make up the difference from an offered low rate by charging extra fees. To protect yourself from this practice be sure to get a Good Faith Estimate from each lender you are thinking of doing business with. The Good Faith Estimate will list all the closing costs and fees associated with the loan, allowing you to choose the lender with the best deal for you.

Don’t assume that your current mortgage lender will give you the best deal either.

Ask around among your friends and co-workers who may have just refinanced and see if they have any recommendations for a good lender. This doesn’t mean your current lender won’t have a good deal for you but it pays to shop around. If you do find a better deal show it to your current lender and see if they will beat it. In many cases they will.

2. Trusting a loan officer who gives you nothing more then a handshake and their word. Everything agreed upon should be done so in writing. Someone’s word is worthless when it comes to loan contracts. If a low interest rate is being guaranteed it need to be in writing.

3. Don’t ever attempt to refinance without knowing the appraised value of your manufactured home.

Not knowing its true value can lead to problems further down the line. For instance borrowing more then the home is actually worth. Being upside down on your mortgage is a bad financial place to be. Most lenders require an appraisal and will role the cost into the refinance, but beware of the lender that doesn’t ask for one to be done. Know the value of your home.

4. Not doing the math on the refinance numbers can be a big mistake. There is a definite cost to any loan and you need to see if it makes financial sense. The big factor in determining the cost is how long you plan on being in your home. If, for instance, you plan on staying in your home for only 4 more years it may not make sense to do a loan refinance. If the closing costs and fees are 00 the monthly payment will need to be lowered at least per month for a savings of 00 per year. If you are saving less then that, say which is 0 a year, then it doesn’t make sense to do the deal.

5. Look at taking out a second mortgage instead of refinancing the whole amount. If you need some extra money a second mortgage can be a better choice instead of adding to your overall mortgage. In most cases you can pay down the second quickly, regaining the equity in your home in a much shorter time period then if you add that extra cash to your first mortgage.

There is a real cost involved when doing a mortgage refinance. Consider these 5 manufactured home refinancing mistakes carefully and avoid ensuring that you are making sound financial decisions.

Article by Jamie Jake

Fleetwood Homes is one of the most popular manufactured home building contractors in the home building industry. They are responsible for turning millions of renters into housebuyers each year. Even if you’re familiar with the Fleetwood Homes brand name, you may not comprehend totally why thousands of people rave about their designs. Naturally, to those who are past Fleetwood Homes customers the answer is abundantly clear. Fleetwood Homes offers good quality homes at very affordable prices.As you peek into Fleetwood Homes inventory and model choices, it is possible to instantaneously discover they are built with the homebuyer in mind. By being dedicated to modern designs, Fleetwood homes makes homes suitable for a myriad of customers. Their homes give open floor plans, space saving features and top quality options and updates. But, at this time there is a lot more to love than just their floor plans.In addition to their modern floor plans, Fleetwood Homes cost significantly less than traditional homes. The most incredible thing is the buyer gets the best of the cheaper prices because while the rates are low, Fleetwood Homes never jeopardises the quality of the products they utilize. Due to the tightly controlled design specifications and manufacturing process there is very little room for human error, which makes manufactured homes higher in construction quality.With mortgage loans being more difficult to obtain these days many home buyers are opting for manufactured home loans instead.So, for anybody who is in the market for a manufactured home, Fleetwood homes is definitely a manufacturer to take into account. They can make it easier to gain financing and offer you a high quality home with many upgrade and amenity options. With a lot of floor plans and models to pick from, Fleetwood Homes provides something for every single home buyer.

Article by Zeus Smith

Manufactured, or “modular”, homes are increasingly being chosen be individuals looking for an affordable custom home. These homes offer quite a few advantages over traditional homes.

What is a “modular home”?

Also known as manufactured homes, they are homes that are built in sections in factories and are assembled on-site. In the factory, they are produced in a cost-efficient assembly-line fashion and are then transported to the building site. The benefit of this construction process is that homeowners can have a highly customizable home, usually for a much more affordable price.

A Building Process That Saves Money

Modular homes are built in factories and benefit from the assembly line production process. The factories are able to purchase bulk amounts of building supplies like lumber, sheet rock, carpet, paint, etc. Due to the fact that they can buy in bulk, they end up paying much less for building supplies. The factories can also maximize their manpower and other factory resources. The cheaper manufacturing process results in savings for the homeowner.

Modern Technology and Supplies

Modular homes can be constructed using the latest developments in structural engineering and materials, so homeowners end up with homes built with high-quality materials. Due to the fact that they must be transported to property sites, they are specifically designed to be structurally strong and are subject to quality control inspections throughout the construction process.

Simplifies Home Construction

Having your own home built can be quite an undertaking, and many of the common stresses are eliminated when a homeowner chooses a modular home instead of a traditional home. Manufactured homes are much easier to price. It removes the dreaded nightmare of having a contractor demand more money before a home project can be finished due to “unexpected costs”. Modular homes are much faster to assemble as well, so the risk of having a builder quit or disappear before the house is finished is much less. Some modular home dealers also offer warranties.

Fast turnaround

Unlike traditional homes, a typical modular house can be completed in around 6 weeks. The fast turnaround time gives homeowners a chance to lock in an interest rate and be able to move into their home relatively quickly.

Lower Maintenance Costs

Modular homes typically require much less in repair and upkeep costs because they built with modern, high-quality materials that are designed to structurally sound. They do not require the types of repairs and maintenance that older homes often require.

Greater Energy Efficiency

Most modular homes are also built to meet energy efficiency standards, so homeowners get to pay lower energy and gas bills than most homeowners.

Flexible, customized design

Perhaps the greatest benefit of a modular home over a traditional home is the flexibility and customized layout that are available for affordable prices. A custom home can add a dramatic amount to building costs, but the nature of manufactured homes means that different sections can be fitted in multiple ways. Most modular home manufacturers have many different design plans available.

The question we get quite often is, “My manufactured home was constructed according to Federal Manufactured Home Construction and Safety Standards (CFR 3280); is it installed on a permanent foundation?”

The short answer is this: Although your home was constructed to the Federal Manufactured Home Construction and Safety Standards (CFR 3280), that does not necessarily mean that it was installed on a permanent foundation.

The Federal Manufactured Home Construction and Safety Standards pertain to the home itself (the walls, windows, heating and air conditioning, electrical, roof, etc.) and how it was constructed at the factory, but it does not pertain to the foundation; the foundation and the home superstructure are two separate animals, so to speak.

Mobile homes can be placed on non-permanent foundations, or either permanent ones. What determines if it is permanent or not is the HUD’s Permanent Foundation Guide for Manufactured Homes, dated 1996 (HUD Publication 7584, PFGMH).

All Mobile Homes receive an overall HUD certificate of approval direct from the factory; they install a little red metal tag on the outside of the home to state this fact. However, since not all manufactured homes involve an FHA or VA loan to be sold, many are not installed on a permanent foundation (according to the PFGMH), and therefore, not all manufactured homes need a foundation certification.

Many mobile home dealerships do their own financing so they don’t necessarily involve installing the home on a permanent foundation. Some dealerships install permanent foundations for all their homes they sell and some do not

How to Build Wind Turbine Generator – home made use

Learn How to Build a Home Wind Turbine Generator. build a home wind turbine generator is the best available. Home made wind generator plans

HOW THEY WORK -

A wind turbine or home wind generator changes the energy in the wind called kinetic energy into mechanical energy by way of rotating the wind generator blades with the wind action flowing across the surface of the wind blades.

There are two main types of wind turbine generator and they are horizontal and vertical turbines although they differ in design, the way they produce electricity is basically the same.

Wind power generators are the same sort of design as the old windmills. The wind blows against the blades of the wind turbine generator and creates friction. This friction causes the blades to turn or spin.

The blades are connected to a shaft and by way of gearing, the shaft will turn a lot quicker than the blades and this is used to power an electric generator motor.

WHY -

The reason that so many home owners are searching the internet for ways to generate electricity at home is the fact that the cost of electricity is soaring and they hate paying ever increasing prices for their electricity.

It isn’t surprising the popularity of creating our own electricity at home will help reduce the need for fossil fuels and find wind power an effective alternative way for home-generated electricity.

ENVIRONMENTAL BENEFITS –

The wind is everywhere and because of this, there is no need to mine our natural resources for fuel. The wind will never be exhausted as it is always being replaced by more wind. Wind has no by-products, uses any natural resources, emits no pollutants into the atmosphere, does not pollute the water with chemicals and has no waste.

There are no greenhouse gasses been released into the atmosphere and reducing the impact of global warming? In general the environment benefits with clean, fresh pollute free air quality which will have a positive impact on reducing the amount of health respiratory problems for all.

HOW TO BUILD A WIND TURBINE GENERATOR -

When you search the internet on how to build a home wind turbine generator, you will come across many sites promising how to reduce your electricity and save money each month but be very careful as most sites give useless data quoted from manufacturer manuals and no instructions on how to build – And you will be hard pressed to find any commercial sites giving away free install and build plans.

The home made wind turbine generator has been designed and tested by renewable energy enthusiast who like you and me want to reduce their electricity and the impact on the environment. The most important thing to remember is their wind generator can be made from local and cost effective material at a fraction of the costs of the commercial models.

Also the build procedure can be easily and affordably completed by home owners with minimal experience and know how to create their own wind electricity.

WIND TURBINE GENERATOR PLANS -

The Manuals, guides or plans have a minimal cost to cover the cost of developing how to build a wind turbine generator at home.

Home wind power turbine generator will feed the electricity produced into a regulator or charge control lern which controls and limits the input that the electric current is fed into your battery bank and reduce or stop any overcharging of the batteries for extended battery life.

After your battery bank is fully charged you will require an inverter.

An inverter is a device that converts your battery bank power [D.C.] to domestic household power [A.C.]. The voltage will depend on your country.

You will be able to get your Manuals that will explain in great detail how to find all of the materials required for your actual home wind turbine generator construction and detailed step by step instructions from the internet. You will also get detailed plans for a residential solar panel array construction and also where to find your batteries for your battery bank.

Out of all of the renewable energy sources, power created from the wind is probably the most rapidly expanding way to produce electricity. Renewable wind energy is the obvious first choice and owning a home made wind turbine generator is a green alternative.

RunGreenPower.com will teach you how to build solar & wind power systems for
your home within a weekend.
Check It Now: How To Generate Renewable Energy?

Replacing simple construction methods, various modular home building techniques have evolved, which provide multitude of options for accommodation. Indulged in off-site construction, a home builder provides modular home structures, which assure numerous advantages over traditional construction. Assuring minimal consumption of wealth and power, these per-fabricated structures are available in various sizes and other specifications. A home builder favors the modern home construction methods as these provides him or her with the ability to function in remote and rural locations.

Considering the environmental conditions and cultural influences, a home builder provides a diverse collection of architectural styles. Representing a seamless array of home structures ranging from castles to mud thatches and mansions to shanties, a home builder considers all vital aspects of home construction.

By making use of strong building structures, he or she lays emphasis on the building strength of these prefabricated homes. Utilizing advanced techniques and material, he or she offers an array of flooring plans, sizes and styles, which makes the home easy to install without any added expenditure.

These builders take complete responsibility for efficient home installation, site preparation and timely delivery plans. Offering ideal solutions to first-time home buyers, modular home structures are designed in tandem with the specifications and layout requirements as briefed by them. A home builder implements all specifications provided by clients with utmost efficiency, offering the desired home structures within the minimum time frame.

Overcoming the construction drawbacks of traditional home structures, a new manufactured home is built inside a factory.

Controlled temperature and climatic conditions are maintained in this facility, which keeps these modular structures protected from moisture and rain water. Assuring high strength and durability, these new manufactured homes are fabricated using non-removable steel chassis. Moreover, it is ensured that this type of prefab homes are developed in compliance with federal building codes,such as HUD. From the factory site, assembled panels and sections are transported to the construction site, where these components are fixed. Contractors use advanced techniques and varied handling machines to fix these panels and sections on the permanent foundation.

Local activities such as, plumbing and electric hook up, carried out while installing manufactured homes are stringently monitored by the building inspectors. Offering numerous benefits over site built or conventional homes, new manufactured homes are economical and durable. Assuring negligible material wastage and other site disturbances, these are constructed as well as installed in an environment-friendly manner.

Over the last few years manufactured homes have developed into a beautiful places to live. These homes, when placed on a city lot, can often not be determined from a standard built home. They fit in beautifully with a landscape, have excellent designs, and in general are a welcome addition to a neighborhood. These homes need protection with Manufactured Home Insurance, the same as insurance for a standard house.

People sometimes become confused in identifying various homes. A site-built home is constructed on a building site, while a modular home is built in sections at a factory and transported to a site by truck. A manufactured home, on the other hand is constructed at the factory and is built on a steel chassis, with wheels. It is then pulled to a building site or mobile home park. Once the home is in place the wheels are removed, however it is possible to move it at a later time.

The insurance on these homes is very similar to what one would have on any other home. You can obtain personal property protection (for the loss or damage to personal property), family liability protection (against any judgments), guest medical protection, home and structure protection, plus living expenses for temporary housing if required because of damage to the home.

A manufactured home, as defined by Mobile Home Insurance companies is a single family house, constructed in a factory, and built to the required federal code. The insurance for this type of residence it is virtually the same as for a regular house. When purchasing insurance for manufactured homes part of the cost will depend on where you live, as well as the construction of the home and its condition.

The term for example ‘replacement cost’ means that your policy will cover the cost of replacing whatever has been damaged, depending on your policies limits. When insuring your manufactured home, you need to insure against damage to the home, property theft, and your liability for any injuries that occur there. There are insurance pricing factors that you cannot control. Such things as flooding or high crime rates, known to exist in the area, will result in higher premiums.

One of the things that will affect your insurance cost is what is its exposure to risk. The fact that these homes are lighter than those built on a site, they can be damaged by storms and severe weather. This is especially true in hurricane areas. Other possibilities are frozen pipes, because of poor insulation, as well as danger of fire. This is especially true in a mobile home park when where the units are located very close to each other.

There are also a number of options regarding actual or replacement costs if the home is 10 years old or less. In some cases, a full reimbursement of lost items is available. There are also a number of discounts available with different insurance companies, which can save you some money. If you are looking for Manufactured Home Insurance, it will pay you to shop around, as there are some excellent options available.