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Liz Sells Florida Homes - Sarasota FL, Sarasota, FL (2026)

03/30/2024

Manufactured Homes versus Modular Homes. Do you know the difference?

Manufactured Homes, (Are one unit assembled in a factory and shipped in one piece to be placed on a property).

These homes are NOT the same as a Modular Home, (built in a factory in sections and delivered in sections to a property to be assembled together on a fixed foundation)

A Modular Home built in a factory in sections, shipped to and assembled in sections, to be assembled and affixed to a permanent foundation, is more comparable to a stick built home. Per Appraisal Criteria it can be appraised similar to a stick built home.

A Manufactured Home (Double Wide) is NOT considered a permanent fixture on Land. They are not considered affixed to land and considered to be removable from the location.

Over improving the interior of a manufactured home, might improve “buyer demand” for the home, but doesn’t improve the appraisals valuation of the home by very much, if at all.

If a manufactured home sits on land with ownership rights to the land, it’s usually the land that holds more value than the manufactured home.

If the manufactured home is sitting on a Leased Lot without ownership rights, the manufactured homes weight in valuation is according to its condition, location, demand for the location, and demand for the amenities of the community it resides in.

In 1974 the National Mobile Home Construction and Safety Act was created and followed in 1976 by a HUD code which set federal construction standards for manufactured homes for:
* Frame requirements
* Thermal protection
* Plumbing / electrical
* Fire safety
* Energy efficiency

In order to get a loan for a manufactured home. It requires being mounted properly on parged cinderblock peers, or on a foundation or slab.

The loan usually requires a structural engineer to inspect the type of foundation or peers the Home is set on.

The appraisal criteria requires the home to use, relevant comparable properties of other similar manufactured homes.

Any home manufactured in a factory will have a HUD Certification Tag usually located on the outside end of the home or in a closet or utility closet. Occasionally, you will find the tag in a kitchen cabinet.

A Modular home typically carries a Higher Valuation on an Appraisal than a Manufactured home.

Manufactured homes built before 1974 are considered per home Lending and Appraisal standards, as more of a depreciating item, not affixed to land.

03/27/2024

I can help you with your home sale and purchase in Virginia and Florida

03/16/2024

Be careful what you wish for, you might get it.

The ones who have been cheering in the background for the changes on Realtor Compensations, sadly are not seeing the big picture or the cause-and-effect of this change on Buyers and Sellers.

Currently
Interest rates are high
Price of housing is high
Inventory has been low

The average Buyer in the median price range, has been struggling to afford housing.

Smart Buyers want Representation, knowing that if they go to the Listing Agent to write an offer for them, they are Waiving their Rights for Representation and Protection.

So what’s a Buyer to do if they want fair Representation to protect them on the most expensive transaction they will make in their lifetime.

If the Listing Agent is no longer Splitting Their Commission with a Buyer Agent. The Buyer will have to Pay a Buyer Agent to Represent and Protect them.

Considering it’s already hard for Buyers, in this difficult market, to afford a house, the likelihood of them, adding those extra fees onto their already stretched budget, is not likely.

Several scenarios could result from this. None of them are good.

1. Buyers may Rent instead of Buy because they can’t afford a house and Pay for their Protection at the same time on their home purchase. Buyers will feel short changed.
2. Some Buyers may succumb to going to the Listing Agent, hoping they’ll have a good outcome, the result of this, Lawsuits against Sellers would become excessive from the magnitude of transactions where the Buyers had NO rights and are upset when they move into their money pit of a home with costly issues.
3. If Buyers stall on buying homes and rent instead, the inventory will increase with Homes SITTING on the Market. The rising Competition in the marketplace with more homes for sale, will force Sellers to LOWER their prices, offer Closing Costs to the Buyers, or Both, in order to sell their homes.
It will become catastrophic for the Sellers, as they’ll Lose more money on the sale of their home than the amount of the original Commissions they paid prior to.
4. Lenders may take it upon themselves to create a loan product that will compensate for the additional fees Buyers incur. We already know what the “Creative Financing” did to the housing market in 2007 causing a domino of market crash, foreclosures and lowered sales prices. We don’t want to repeat this disaster. Sellers will not be happy about that scenario in the big picture.
5. When prices, fall dramatically, and the Buyers who Need a Home are struggling, Investors with deep pockets will be the competing with those Buyers in the marketplace, and will buy up all the properties and turn them into rentals.
6. Big companies and large hedge fund companies with deep pockets will start selling Real Estate as if they are a Walmart warehouse.
This, will create lack of customer service, and NO representation for Buyers or Sellers, all with the deception of saving the client money.
7. The outcome of the lawsuits from this scenario, will result in two things.
a. Virginia could become a “Disclosure State” where the Seller is required to disclose every little thing about their house. There are other States that are required to do this, Virginia is not one of them currently. Virginia is a “Due Diligence” State where the Buyer has the right to investigate the property with licensed contractors, and the ability to back out of the transaction unscathed, if the home does not meet their criteria.
b. The other thing that’s likely to happen as a result of these compensation changes in the industry. Real Estate will turn into Attorney Run States, in order to re-establish client representation. The irony will be that, Buyers and Sellers will Both end up “Paying More” in the long run than they did previously with the Realtor fees.

Sadly, this has all happened because of a bigger agenda that the public doesn’t realize is happening in order for large corporations to control Real Estate.

If there had been better Education for the Public all along, none of this would have been able to transpire.

The Public should have been Educated with “Full Transparency” via TV, and Media, about what they were getting from Realtor Representation, and the cause-and-effect of each scenario.

Instead, the general public has been in the dark about their Rights and what it means to have a Realtor Represent them.

This veil of secrecy in the Real Estate Industry will haunt, not only Realtors, but Buyers and Sellers. The entire industry will be in turmoil from it. Sadly the public won’t realize the snowball effect that will take place until it’s too late.

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