zzz, I missed that thanks for pointing it out. With the mills act in place the price is probably appropriate.
“So in the end, you pay the same amount. I mean, if you’re paying cash, sure. What percentage of people can pay cash?”
That all depends on how long you intend to keep the house … also when you go to sell the mills act is still in place which will result in lower taxes to the buyer so you will essentially get the additional cost paid back. So, it seems to be like an interest bearing savings account. Another thing is that properties with the mills act in place tend to be in very good condition.
AN, here is an example in MH that shows that prices really havn’t gone up that much from 1986 and appreciation rates have varied wildly even within MH:
I paid 1.66x the 1988 price on a house I purchased in MH last year which is probably in the same ballbark as this one on Pine which is 1.84x the 1986 price. If a house appreciated much more than 2x the 1986 price then I would say that the house likely had substantial improvements made.
As a general rule, the lower cost homes in MH have appreciated on a percentage basis much more rapidly than the higher priced homes since the 1980’s. This fact is probably largely due to the huge decline in interest rates since then and the fact that people buy on payment.
