Preowned homes: the industry's stepchild

Article Abstract:

The manufactured homes industry must take efforts to be actively involved in the marketing, sale and financing processes of preowned manufactured homes. Usually, the sale of these homes is not announced and documented since the only ones involved are the buyer, the seller, a local lender and probably a broker. Preowned manufactured homes provide an opportunity to the industry, with more than 700,000 units are expected to be sold in 1997. Buyers of preowned manufactured homes are usually those people who cannot afford the monthly installment payments for a new manufactured home.

Prefabricated Wood Buildings, Prefabricated Wood Building Manufacturing, Prefabricated metal buildings, Prefabricated Metal Building and Component Manufacturing, Prefab Metal Buildings, Modular buildings, Wooden buildings, Metal buildings

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Preowned homes: the industry's stepchild

Article Abstract:

Preowned manufactured homes are achieving market growth, especially for land-lease community owner/managers. Preowned manufactured homes have an entirely different marketing strategy as compared to selling new homes. The sales approach for used homes may include meeting interested buyers at various sites and preparing for answers to questions ranging from home construction, rentals and financing options.

Methods

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Manufactured home financing: will history repeat itself?

Article Abstract:

Manufactured home financing was at its worst from 1974-1980, when repossessions occurred in vast number nationwide. Although conditions have improved in the 1990s, credit quality is dropping. An observable trend of diminishing borrowers' equity and placing lenders at greatest risk of repossession warrants attention.

Economic aspects, Finance, Mortgages

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