Anyone else seeing this right now? - Posted by Karl (OH)

Posted by Mark (SDCA) on December 07, 2000 at 15:52:50:

Send me some buyers. I have 8 mobiles for sale. I have had an ad running for 4 weeks. Lo Down, Easy terms etc. Some of the mobiles are fixers (for a lower price). Some are good to go. Can stay in the park. I have had 4 calls, total. So I am not seeing any December rush.


Anyone else seeing this right now? - Posted by Karl (OH)

Posted by Karl (OH) on December 04, 2000 at 20:47:37:

After a very slow November, I was getting ready to hunker down and ride out a pathetic December. Who wants to move right before Christmas? So I thought.

Starting last Wednesday, my phone has been ringing off the hook. I’m suddenly flush with buyers and sellers. Anyone else noticing a big surge right now?

Karl Kleiner

Re: Anyone else seeing this right now? - Posted by Bob McNeely

Posted by Bob McNeely on December 16, 2000 at 19:17:23:

Two weeks ago I had my 4 homes winterized, expecting a long winter. Last week I sold 3 and have a good shot at selling my last one (a 1997 very good buy). Now I need to find more inventory, ???.

Re: Anyone else seeing this right now? - Posted by mary va

Posted by mary va on December 07, 2000 at 06:07:35:

got it here too.hope it stays for awhile.things here had been rock bottom.wrote 3 contracts just yesterday.made my day.

You Bet - Posted by Joe SATX

Posted by Joe SATX on December 06, 2000 at 10:27:10:

Hi Karl,

Happened right after Thanksgiving. The phone started to ring. I sold two this week! Like you I was getting ready to hibernate for the holidays. Second thing I noticed is the large drop in MH ads in the paper. Even dealers seem to be throttling back a bit. People wanting to sell have been calling for several weeks–I have been reluctant to buy with 3-4 homes in inventory. Now I agree with the other folks, I will look to buy a few more and build in the carrying costs. Since this is my first year doing MHs, I don’t have any history in my market to rely on.
Let’s keep up this line of discussion over the next few months and see if these trends are national…

joe ponce

Re: Anyone else seeing this right now? - Posted by Tim (Atlanta)

Posted by Tim (Atlanta) on December 05, 2000 at 07:02:26:

I am seeing the same turnover in my SFH rentals as well as the local mobile home parks. The parks are cleaning out the late (or non) paying tenants and getting rid of the older homes. I guess they are trying to upgrade the look of the parks. My SFH renters seem to be finding homes to buy, and are moving out. More renters call before the place is even empty.

Just seems odd that many people are moving this time of year. No idea why.

Yes, there has been a Holiday Rush - Posted by Tony-VA

Posted by Tony-VA on December 05, 2000 at 05:29:09:

Like you Karl, I had been planning a nice winter slumber for December. Homes keep coming on the market at motivated prices and buyers are calling off the hook. Some of the buyers are no-money dreamers, but I have had 4 pre-approved by the park for two of my current homes. Sold a rehab yesterday(you know how I avoid rehabbing) with less than 2 weeks into the deal. I had been a bit gun shy about buying this time of year because of greater holding costs. I am looking at two more homes on Wed, despite my slumber intentions. Guess if you can buy them right, don’t stop. I still intend to bill in holding costs to get me through to February (rapid refund tax time).


Re: Anyone else seeing this right now? - Posted by Carlene Wentland

Posted by Carlene Wentland on December 04, 2000 at 22:41:46:

I have more buyers than I can find homes for. It is a good but somewhat frustrating situation to be in. (I probably have at least 15 people in my data bank that I feel would be good risks.) I’m having trouble because some of the parks with homes for sale are difficult for people with questionable credit to get into. These are the people I am willing to loan MY money to, but the parks see them differently.
Plus, Tony had to enlighten me with Dawson’s negotiating techniques and now I won’t just buy ANYTHING because I want to ‘play with’ the advice in his book.
I’m glad things are going well for you Karl. Send me some of those homes…I’ve got the buyers! : )

Re: Anyone else seeing this right now? - Posted by Chuck-NY

Posted by Chuck-NY on December 04, 2000 at 21:28:50:


My first Lonnie deal happened just a few days
before Christmas last year…only about 2 weeks
between that purchase and the sale.

I thought the colder seasons would slow things
down but I think that the demand may be more
related to personal reasons of the sellers
& buyers.

Re: You Bet - Posted by Karl (OH)

Posted by Karl (OH) on December 06, 2000 at 11:36:15:

Hi Joe,

I run most of my potential buyers through my mortgage broker first. If they can’t get bank financing through our Ohio C-credit lender, then I consider carrying the note. Even with a C-credit lender, its not easy getting my buyers financed, because they’re all so awful. But I’ve just had three buyers approved for three of the homes I’m selling. My broker wasn’t expecting any of them to get approved. She thinks that because November was such a slow month, this lender is relaxing a little to make more loans. (A C-credit lender who’s relaxing its requirements? That’s redundant.) Probably bad for them, but good for me. Ohio investors, this would be a good opportunity to refinance some of your trailers and cash out.

A couple potential buyers called me today, they both want to buy a home before Jan 1st so they don’t have to resign their rental leases. Maybe that explains some of the December rush.

If this continues, this might be my best month of the year!

Karl Kleiner