EPISODE 5: Mobile Home Myths – Depreciation Part 5
Episode 5: Transcript
Hey look it’s the Doublewide Dudes.
Mousetrap: Alright, alright, alright, alright (laughter) Oh man I can’t get over that.
A.P: Too much, too much.
Mousetrap: How are we doing man?
A.P: I’m good, I’m good. I’m sorry to see this one end, I’ve had a lot of fun doing this. Are we going to keep doing this Mousetrap?
Mousetrap: Yeah, absolutely this is just the beginning. I think podcasts is a beautiful source for people to listen to it while they’re on their commute or on their lunch break. Just some good info for them to take in. so I don’t plan on stopping.
A.P: Alright I’m right here with you, as long as, you’re podcasting I’m your podcast cochair.
Mousetrap: Perfect. Well this is going to wrap it up on depreciation. The first four we talked about a lot of different factors that determines the resale value, what’s going to happen with your home in the future and if you’ve listened this far, then you’ve listened to the first four and it just really comes down to there’s not guarantees right, I mean, when you’re getting a mobile home or a regular site build home the market is going to play a big factor on the availability of housing options and a desired spot or area where people are going to want to move to right. So another example is a family member of mine, she was in the marines and she lived out in California.
A.P: Is that your sister?
Mousetrap: She moved out there in, i’m going to say in 2006, her and her husband were aviation electricians. So they were stationed out in Camp Pendleton and you know they were starting a family so they decided to buy a house, they got out of the barracks and bought a home and it was a townhome, and at the time it was worth about two hundred and eighty thousand dollars. And this was I would say early 2007 right around the time where the housing crisis hit and late 2007 and early 2008 that home depreciated, I want to say about a hundred thousand dollars.
A.P: Took a big hit.
Mousetrap: Yeah, I mean that’s a big chunk of change. You can buy two double wides for that. and I’m sure just like a lot of other folks out there it was devastating for them to find out that their home that they just bought is losing so much value. Even a traditional house is going to go up and down in value just like a mobile home would, it’s all going to depend on the market.
A.P: Right, right and you hit the nail right on the head there Mousetrap. There is no guarantee whether it’s a manufactured home, a site built home, stick built home or whatever you want to call it, it comes down to the market and you know your sister wasn’t alone there. Homes in California, in Nevada, Arizona, stick built homes, site built homes, what folks might call quote “real houses” going down in value by as much as fifty percent.
A.P: And really what it came down to is they were overpriced to begin with. So it’s like what we were talking about at the very beginning Mousetrap, making sure that you as a consumer, are doing as much research as you possibly can and making sure to slow and realize that this is quite possibly the most important financial decision you will ever make in your life, and it’s worth taking the time to slow down, to not get caught up in the emotions and the excitement of the purchase and it is fun, let it be fun, it should be fun, but not to get caught up in those emotions and making sure to take time to slow down and do your research. If you overpay at the beginning then the day you get your home, it’s worth less than what you payed for it.
Mousetrap: Yeah I completely agree, it comes down to research. Nowadays with the internet and google, put yourself out there, call these retailers find a floor plan you guys like that’s suitable for you and your family, and try to deal with someone who’s honest and transparent. You’re going to get that gut feeling if it feels right. If the person who’s trying to sell you the home is honest and upfront with the information and you get that warm and fuzzy feeling, then you know you’re moving in the right direction.
Alright A.P you promised our listeners the secret to always winning when it came to make a housing change.
A.P: Right, right, right.
Mousetrap: What do you have you got for us?
A.P: Well what it comes down to Mousetrap, I mean all the research in the world, we as homeowners and homebuyers really don’t get to decide what’s going to happen to the market or not. That’s not something that’s a hundred percent in our control. So what I encourage homeowners, is to focus more on is this home purchase going to make you and your family happy? Is this housing change going to improve your family’s life? Is this something that you a month from now, a year from now, once you’ve purchased your home envision you and your family being happier than you are in your current situation? And if you focus on that first and foremost, then whether the housing market goes up or down it really doesn’t matter. What matters is what’s between those doors, and that’s a family that’s happy right?
Mousetrap: Yeah that’s awesome, that’s what it’s definitely all about. How can people get in touch with us A.P say they listen to these and “I kinda like those dudes”.
A.P: The double wide dudes.
Mousetrap: “I kinda like those double wide dudes”
A.P: Well, they can give us a call at our office. Our office line is area code 210 593 8601, but heck I’m in sales and even don’t like talk to the sales persons so for those folks that want to continue to do their research and see pricing online and options and floor plans and what not, we’ve got all of that publicly posted on our website. It’s www.findmymobilehome.com, we’ve actually got a 26 page buyer guide there that covers some of the topics we went over here on our podcast as well as a ton more
Mousetrap: Beautiful, well thanks again guys. This wraps it up for the series on depreciation. We’re going to get into many more myths, and many more topics, that, it’s going to be real informative you guys. Thanks for tuning into the double wide dudes and we’ll catch you on the next one.