Market Trends and Condition

Conditions of the economy will FORCE many apartment and house renters and foreclosed families to turn to mobile homes for affordable living.

With the factors of the down market and the future of the job market people will have to do what they have to do to have a place to live at a price they can afford.

Many Mobile home Parks are for sale NOW and ripe for the taking, some with owner financing because they have made their money.

If you have a MHP of 60 mobile homes, lot rent $350 month=$21,000 month minus expenses, say $5000(trash, park lighting) would = $16,000 month x 12=$192,000yr

Get it? What if you owned 10 of the mobile homes and had apts/effiency and office...ADD that.

Mike

Yahoo finance has news and research to support additional drop in housing values.

Run NOW and check it out!!!!

I just read an article that said that 5 years ago only 1% of million dollar mortgages were in default. The rate toady is 14% and growing. Imagine that.....1 in every 14 million dollar mortgaged homes going to foreclosure.

U.S. home foreclosures jumped 12 percent last month, but the sharp divide between states suggests the industry remains backlogged by investigations into the foreclosure process. According to a report from real estate data firm RealtyTrac, lenders foreclosed on 78,133 properties in January, up 12 percent from the month before, but down 11 percent from January a year ago.

Here we are, 3 years after the banking collapse, 4 years after the housing bubble popped, and foreclosures are still rising. This is certainly some recovery we got working!!!

Everybody should take a look at this article so you are aware of what's going on out there. A shift in the market prices could affect your area when you least expect it.

http://www.msnbc.msn.com/id/41569256/ns/business-the_new_york_times/

Here is an article that came across my desk today from CNBC that could have profound consequences on everybody's real estate investing business:

The number of borrowers who owe more on their mortgages than their homes are worth took a huge leap in the fourth quarter of 2010. A full 27 percent of borrowers are now “underwater” on their mortgages, up from 23 percent in the previous quarter, according to a new report from Zillow. Foreclosure moratoriums and falling home prices are to blame.

Here's the link from Phoenix's Channel 12 News:

http://www.azcentral.com/12news/news/articles/2011/01/28/20110128phoenix...

Metro Phoenix home values won't recover to pre-boom levels until 2015, according to industry experts.

The latest forecasts for the housing market's recovery have been pushed out by another year because of slower-than-expected job and population growth and a bigger glut of home foreclosures than anyone expected.

Phoenix's housing recovery will remain slow until enough new jobs are created to attract tens of thousands of new residents annually to the region again, economic-growth experts said at Urban Land Institute Arizona's annual forecast conference on Thursday.

Article Source
http://finance.****/news/Fannie-and-Freddies-Big-bizwk-2535217115.html?x...

Fannie Mae (fnma.ob.OB) and Freddie Mac (fmcc.ob.OB) are trying to sell their huge backlog of foreclosed homes in an orderly way to avoid flooding the market and depressing prices. As foreclosures mount, though, analysts say the companies may be forced to reconsider that approach.

From 1/31/11 statistics on CNBC:

America's home ownership rate, after holding steady for a while, took a pretty big plunge in Q4, from 66.9 percent to 66.5 percent. That's down from the 2004 peak of 69.2 percent and the lowest level since 1998.

Homeownership is falling at an alarming pace, despite the fact that home prices have fallen, affordability is much improved and inventories of new and existing homes are still running quite high.

Bargains abound, but few are interested or eligible to take advantage.

FHA Commissioner David Stevens announced today that the FHA Anti Flipping Waiver will continue throughout the remainder of 2011 to accelerate the resale of properties in neighborhoods struggling with property abandonement. They claim 21,000 mortgages have been originated using the waiver worth over $3.6 Billion in property sales

•All transactions must be arms length, with no identity of interest between buyer and seller or any other participating parties in the transaction
•There are additional restrictions where the resale price is greater than 20% of the seller acquisition price. Expect that two appraisals and a home inspection will be required. Additionally, documentation of improvements may be necessary to justify the new sales price