Saturday, August 13, 2005

Here is an alternative to a condo or a single family home - a mobile home. This unit is a fixer for $75,000. It is located in Oxnard Pacific Mobile Home Park off of Pleasent Valley and Rice Roads. The space rent is $650. per month. It needs carpet, paint and upgrading, if you so choose.

You have to have at least a 20% downpayment on an older mobile home like this (this one was manufactured in 1976). The interest rates are also higher on mobile homes running an average of 10% for the loan. So mobile home appear to be "cheeper" but with a loan and space rent the payments are $1300 per month plus $17,000 initially for the down and escrow.

Over the long run, mobile homes do not appreciate the same as condos and single family homes. They are only going up slightly (bought one 2 years ago for $110,000; sold it this year for $137,000).

Call me at (805) 901-8805 if you would like more information on this or other mobile homes.



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