Anyone know anything about modular homes? - Page 3 - PeachParts Mercedes-Benz Forum

Hatterasguy · #31 12-03-2007, 08:28 PM

When I move out I want to do that.

PaulC · #32 12-03-2007, 08:36 PM

Why did Howie specify two years?

Hatterasguy · #33 12-03-2007, 08:42 PM

Capital gains, if you live somewhere for two out of the last 5 years you don't have to pay them.

PaulC · #34 12-03-2007, 08:44 PM

Thank you, just checking.

Brian Carlton · #35 12-03-2007, 10:23 PM

Quote:

Originally Posted by Hatterasguy

You only risk $360k if you pay with cash, which is the best way to do it. But with a construction loan the amount you risk is much less, and considering the short turnover its a damn good rate of return. Naturaly the better the return the more the risks.

I think you need to take a little course in construction management.

Who's on the hook for the $320K if you borrow it............you think you are only risking the $40K of your own money?

Guess again.............

Brian Carlton · #36 12-03-2007, 10:27 PM

Quote:

Originally Posted by Howitzer

The margins can be good but if you take a 10 year average it does not look so good.

One of the reasons for excellent margins is when a builder is operating in a rising market. He generally has the house in contract before it's finished and doesn't need to carry it one day more than necessary.

In a declining market, all bets are off.

I'd like to show Mr. Hatterasguy some waterfront duplexes in Virginia Beach. Upper unit is $1.2M and lower unit is $1.0M. Brand new construction...........been fully complete for six months.

As I said once before...........good luck with that.

t walgamuth · #37 12-03-2007, 10:58 PM

The trick is to sell it before you finish it.

And remember folks often tell whoppers about how much they make on a deal!

We are over built here and I may have had one of the last local spec homes built with a bank loan. I imagine you could only borrow money for a spec home here if you had that much cash in a separate account that you promise not to spend on anything else.

Tom W

Brian Carlton · #38 12-03-2007, 11:14 PM

Quote:

Originally Posted by t walgamuth

The trick is to sell it before you finish it.

.........ask Hovanian and Lennar how that's working out for them............

Hatterasguy · #39 12-03-2007, 11:26 PM

Well if its been sitting that long its overpriced. Its also a good thing I'm in Milford and not Virginia beach. Although it did take 5 months to get mine in contract.

New house under contract before its finished? I know of two that did just that last week.

pawoSD · #40 12-05-2007, 12:13 AM

Its astounding how much all you people over there pay for homes and such. Those prices you were mentioning would buy one heck of a house here......in a super nice location. Wshew.

Hatterasguy · #41 12-05-2007, 12:50 AM

Average sale price is $430k, down from $435k last year. Go south into Fairfield county and it goes way above that real fast.

I'm not talking about building anything special either, its a pretty basic house.

t walgamuth · #42 12-05-2007, 07:20 AM

Quality wise? Modualrs? Double wides?

One half step above C P Morgan, I think.

Better than renting by at least half.

Tom W

Medmech · #43 12-05-2007, 07:43 AM

Quote:

Originally Posted by t walgamuth

Quality wise? Modualrs? Double wides?

One half step above C P Morgan, I think.

Better than renting by at least half.

Tom W

We are not talking about manufactured homes, trailers or double wides.

LUVMBDiesels · #44 12-05-2007, 07:54 AM

My cousing had one built 10 years ago and it is very solid.
He did a four br colonial on a hillside (you should see his basement!) and the house went up and was ready to occupy in just a few weeks. He did the finishing work himself when he got home from his job.

All I know is that if I was going to build anything I would go modular.

pawoSD · #45 12-05-2007, 12:26 PM

Quote:

Originally Posted by Hatterasguy

Average sale price is $430k, down from $435k last year. Go south into Fairfield county and it goes way above that real fast.

I'm not talking about building anything special either, its a pretty basic house.

Unbelievable....is there some fountain of youth there that everyone will pay great amounts of $$ to live near?

$430k would buy you a mid size mansion around here, complete with several acres of fully fenced land and gated card access to your driveway. Jeeze.

"Average basic homes" in a mid to upper scale neighborhood sell for about $130-180k around here depending on the size of the house. Very high end brand new homes in the developments (these are HUGE houses) can be had for $220-240k with you as the very first owner.

Crazyness. I think I will stay here. Michigan is a much more beautiful state anyways.

*Flame suit is on*