Well the house hunt is back on, I found a home w/a garage, it's a fixer, which I'm used to, it would with insurance taxes and such be about $10 a month more than where I live at now(now is $215 for rent), the place costs $34,500 and can be repaired under an FHA insured 203K loan(3.5% down payment for FHA), I was told My current score of 626 is not a problem, the only problem I can see is the down payment of $1208, plus moving(900) and utility setup(300) costs of about $1200. The home has been up on realtor for 660 days, the home has 3 bedrooms, 2 bathrooms, 1456sqft and a 2 car garage on a 7420sqft lot, w/NO HOA. Outside of paint and floor issues, looks pretty good so far, but that is what the 2nd FHA 203K is for, which can be up to $30,000 for any repairs, which I think would include the gate and weeds. My nephew and 2 nieces could help Me move if I asked. What do you think?

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The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's

Houses are cheap over there Vic. The cheapest house here that I've seen is $220,000. (average house price $450,000) That one looks good, I would go for it.

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Houses are cheap over there Vic. The cheapest house here that I've seen is $220,000. (average house price $450,000) That one looks good, I would go for it.

I'm going to try, though that means I'd have to start saving in May 2016 for 10 months to get $1500.00 together for some deposits and for the down payment, that's if I can be approved for an FHA 203K loan.

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The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's

Vic, I thought you were a Vet. If so there are some good programs available through the VA some of which I believe would help with the down, and you might get an even better interest rate.

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"Sour Grapes make a bitter Whine." <(0)>

Vic, I thought you were a Vet. If so there are some good programs available through the VA some of which I believe would help with the down, and you might get an even better interest rate.

The VA doesn't have an equivalent of an FHA 203K repair loan and this place needs some repairs. A VA loan requires the home to be 100% move in ready, this place does not qualify according to Trulia.

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The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's

Walk away as quickly as you can.
There's a lot of work needed to get the place habitable, I'm certain that a survey would turn up more structural issues than can be seen in the pictures.
There must be a reason why it has not sold in just under two years, the first three reasons that come to mind ar: Bad area? Over priced? Too much work needed?
But as Chris says it is your call. If I were looking to spend $65k on a property, and had your health problems I would be looking for somewhere that was ready to move in, needing only a bit of paint not significant work.

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Bob Smith
Member of Seti PIPPS (Pluto is a Planet Protest Society)
Somewhere in the (un)known Universe?

One that unit on the roof is an Evaporative Cooler, the heater is located inside, like here, except for the kitchen and dining room floors, the other rooms look ok.

Reasons for not selling, it's a manufactured home w/a missing floor, a home inspection will reveal more.

Also, as to Me saving up $1,208.00, if I devote $151.00 a month to that instead of to something else, which has kept Me here, I could do this, that just means priorities have to change, putting money in a saving account is something I have not done in a while. Looks like Jun 2016 to Feb 2017 for when I can do this.

$65,000.00 a 203k mortgage(a rehab loan guaranteed by the FHA) can go up to $30,000.00, that does not mean all of that 2nd mortgage would be used, the down payment only applies to a first mortgage(an FHA backed mortgage).

Price $34,500.00, repairs could be just flooring(kitchen & dining), kitchen floor, paint outside, the gate and landscaping.

None of the windows are broke, just old and maybe leaky and make for higher energy bills.

Nope, the area is ok, My nephew and His wife and Her child live a block over.

Over priced? Homes like this always sell for less, stick built houses are more in demand.

Yeah, it's a fixer, I'm used to that, I live in a fixer now and I have since 2006.

$3000? Huh? I did mention $1,208.00 for down payment and $300.00 for utility deposits, My extended family can help Me move, cost $0 and yeah they moved Me out here and into this place, so a 3rd time can be done I'm told, on a weekend no doubt, which is also no problem.

The $300.00 can come from Liheap and the $1,208.00 will just take until Feb 2017 to acquire or maybe sooner.

Here's a pic of the neighborhood, the mailboxes are those silver boxes, they're locked, plus there are street lights.

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The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's

Vic,

Another thing to consider, and please don't take this as criticism of your idea just something else to think about.

The staining where the floor was removed would appear to be black mold. This would be the case if the floor collapse was caused by water leakage. Additionally if the leakage was caused by the failure of PEX waterline tubing(used extensively in manufactured housing), the entire non-waste side of the plumbing may need to be replaced.

http://failures.wikispaces.com/PEX+Plumbing+Failures

Replacing the piping would be a major cost but small compared to mold remediation which could entail replacement of much drywall if the mold migration is extensive. I would suggest, at the least, have a mold and plumbing inspection done before moving forward on any level.

County inspectors and your home insurance will not issue a Certificate of Occupancy until these problems are corrected.

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"Sour Grapes make a bitter Whine." <(0)>

Vic,

Another thing to consider, and please don't take this as criticism of your idea just something else to think about.

The staining where the floor was removed would appear to be black mold. This would be the case if the floor collapse was caused by water leakage. Additionally if the leakage was caused by the failure of PEX waterline tubing(used extensively in manufactured housing), the entire non-waste side of the plumbing may need to be replaced.

http://failures.wikispaces.com/PEX+Plumbing+Failures

Replacing the piping would be a major cost but small compared to mold remediation which could entail replacement of much drywall if the mold migration is extensive. I would suggest, at the least, have a mold and plumbing inspection done before moving forward on any level.

County inspectors and your home insurance will not issue a Certificate of Occupancy until these problems are corrected.

That's ok.

PEX wasn't approved for use in CA until 2007 to 2009, the manufactured home here was built in 1990.

Floors are glued down in manufactured homes, could be the type of glue/adhesive used staining the floor joist.

I know what black mold looks like, I've seen it, though not in the place where I'm living at.

Adelanto CA is an incorporated city, they have their own inspectors and permits, the county doesn't have jurisdiction.

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The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's

Ok I have some more good news, since the mobile home that I live in is paid for and if I qualify, plus knowing how hard it is to sell a mobile home in a park, I found someone who would love living and owning My place and who knows of the warts this place has, She's an acquaintance of Mine who is 59, She accepted My offer, it'll mean that She gets to have another $30 a month, since Her rent is $245, Mine is $215 for the land and then She'll have to pay $205.30 a year in property taxes, and when I'm out I can do a Quit Claim on the title, at least once She is on the title. Her name is Mary Lou in My cell phone, that is not Her full name.

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The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's

Hope the new house works out for you Vic I honestly do seams your set on it despite people who are asking you to be careful and not to rush things . But if things don't work out please don't start moaning about it

Hope the new house works out for you Vic I honestly do seams your set on it despite people who are asking you to be careful and not to rush things . But if things don't work out please don't start moaning about it

I won't, I'm used to this and that is what a 203k repair loan is for, to fix things, that need fixing.

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The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's

Some how, I think some Brits here don't or may not understand what a manufactured home is, this is a home that is built in a factory, that has steel I-beams under the floor joists and is transported to the site where the home is installed at. They do not sell fast, financing is hard to do, since most banks will not finance one, regardless of the shape the home is in.

My notes now say May as the start point, that's a month earlier, so I could have the last of down payment by either Dec 2016 or Jan 2017, it all depends on what happens here and what My bills are like.

Plus I'll be nearer to more Doctors, than I have available to Me here and I could have solar panels installed in the back yard.

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The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's

...manufactured homes, we call them pre-fabricated, are known over here. A fair number of recent builds have been timber frames with a weatherproof cladding, with internal dry lining, and a lot of the plumbing and wiring already installed in the factory. Very fast to errect on site once the foundations and service interfaces have been put in place.
Looking closely at the pics I can see how Jaded thinks its black mold, to me it looks more like glue run which is nowhere near as bad. But is still not a good thing to see missing floors like that.
Currently, if I'm understanding the situation, you own your trailer, but pay what we call "ground rent" to the trailer park and that costs you 215 per month. So your capital worth is the sales value of the trailer. Lauing aside that you have a friend who is intereted in it, do you know its currnet resale value? I would hope it would be somewhere near the 35k capital cost of the house you are looking at otherwise you are going to be faced with the repayments on a mortgage needed to cover the difference between the selling price and purchase price, plus the repayments on the 203k loan. One very important question, how long do you want to take to pay off any mortgage plus the 203k loan?

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Bob Smith
Member of Seti PIPPS (Pluto is a Planet Protest Society)
Somewhere in the (un)known Universe?

...manufactured homes, we call them pre-fabricated, are known over here. A fair number of recent builds have been timber frames with a weatherproof cladding, with internal dry lining, and a lot of the plumbing and wiring already installed in the factory. Very fast to errect on site once the foundations and service interfaces have been put in place.
Looking closely at the pics I can see how Jaded thinks its black mold, to me it looks more like glue run which is nowhere near as bad. But is still not a good thing to see missing floors like that.
Currently, if I'm understanding the situation, you own your trailer, but pay what we call "ground rent" to the trailer park and that costs you 215 per month. So your capital worth is the sales value of the trailer. Laying aside that you have a friend who is interested in it, do you know its current resale value? I would hope it would be somewhere near the 35k capital cost of the house you are looking at otherwise you are going to be faced with the repayments on a mortgage needed to cover the difference between the selling price and purchase price, plus the repayments on the 203k loan. One very important question, how long do you want to take to pay off any mortgage plus the 203k loan?

The value? Would be zero, as I've tried selling it, people can't get loans for a mobile home in a park, so any sale had to be cash. For tax purposes the value is $27,000.00, but mobile homes depreciate in value worse than an auto does here, so the best I can do is make sure the person can pay the rent and the minimal taxes here, which I've done.

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The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's

Like Rob said pre fabricated homes are becoming popular again here with the cost of land and house prices . I'd never be able to afford a mortgage when I was working b4 my crash happened , where I live in England is near Ex USAF air bases Bentwaters and Woodbridge . House prices are bad enough here let alone nearer to London .
You've said yourself you do have issues with depression , I don't want to see you go on a downer if it doesn't work out that's all

Like Rob said pre fabricated homes are becoming popular again here with the cost of land and house prices . I'd never be able to afford a mortgage when I was working b4 my crash happened , where I live in England is near Ex USAF air bases Bentwaters and Woodbridge . House prices are bad enough here let alone nearer to London .
You've said yourself you do have issues with depression , I don't want to see you go on a downer if it doesn't work out that's all

I'm not worried about this not going anywhere, I know about real estate and mortgages.

Besides I have a year before I will have enough to put down and I'm hoping with an agent I could get the price down to $32,000.00, which will lower the down payment to $1,120.00(3.5% of $32,000.00), which would probably mean I'd only have to wait for 11 months and the person I talked to said there are various lending packages that would help get Me in there(some help with the down payment). I'll know more when I've talked to someone on Monday.

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The T1 Trust, PRR T1 Class 4-4-4-4 #5550, 1 of America's First HST's

Hope it all works out for you then Vic :-)

Good luck Vic. :-)

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TimeLord04
Have TARDIS, will travel...
Come along K-9!
Join Calm Chaos

Good luck Vic. :-)

+1 :-)

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