Latest news with #mobilehomes
Daily Mail
8 hours ago
- Business
- Daily Mail
A new law could introduce mortgages for building tiny homes
A new proposed law could make it easier to take on a loan to build a mobile home. Two congressmen have joined forces to present a bill that would create a new government-backed loan for Americans who want to build a tiny home on their property. Mobile homes have become increasingly popular as the rising cost of housing has shut many out of the dream of home ownership. Now existing homeowners want to build tiny homes on their properties - known as accessory dwelling units, or ADUs - to house their adult children, elderly parents or to let out to guests as a way of generating income. Even home builders are including ADUs as a selling point on properties. Sam Liccardo, a Democrat from California and Andrew Garbarino, a New York Republican, are co-leading the ADU bill that would allow for the unique second mortgages. 'This is a really pressing issue for Americans,' Liccardo said of the housing crisis. 'But it has not become nearly pressing enough for Congress,' he told The Wall Street Journal. ADUs are studio-style housing units which are normally between 600 and 1,200 square feet. The bill aims to ease the risk for private lenders to offer second mortgages for ADU construction by providing a government backstop in case the homeowner defaults, according to the Journal. So far the bill has been endorsed by at least 16 Democratic and Republican House members as well as the National Association of Home Builders and other influential industry groups. In 2020 around 1.4 million American homes had a supplemental tiny home on their property, and the trend is only gathering pace. The US is currently short 4 million homes and almost one third of all households are deemed to be 'cost-burdened,' because they spend more than a third of their income on rent or mortgage payments, the Journal reported. The housing crisis is increasingly encroaching onto politics and lawmakers are taking note. California Governor Gavin Newsom recently rolled back a landmark environmental law in a bid to boost house building. Lawmakers are also warming up to the idea that tiny homes could be a way to ease the housing crisis as they can be erected quicker and more cheaply, and often encounter less red tape than traditional full-size properties. Republican Andrew Garbarino (pictured) has worked with Democrat Liccardo to present the bill 'This happened to be a lower-hanging fruit,' Liccardo explained. 'It helps to start in an area where you can actually get something done.' For that reason modular home builders have targeted victims of the Los Angeles fires with offers of cheaper and quicker rebuilding options. Many homeowners who saw their properties burned to the ground were then met with the compounding heartbreak of home insurance payouts that will only cover a fraction of the rebuilding costs. Now businesses such as ICON and Hapi Homes see an opening to the mass market their tiny homes, which are built off-site with the help of 3-D printers and then transported to their final location. Building new homes off-site is often much cheaper because materials can be purchased in bulk and fewer workers are required for less time. After wildfires devastated Maui, Hawaii, in 2023 more than 100 modular companies flooded the building market.
BBC News
01-07-2025
- BBC News
Two dogs killed in Petham mobile homes fires
Two dogs have died in fires at two mobile homes in Fire and Rescue Service said it was called to reports of the fires in Duckpit Road, Petham, on Monday at about 14:45 fire engines were sent to the scene and the crews extinguished the blazes and left the scene at about 21:30, a fire service spokesperson said. There were no reported injuries in the fires, which were believed to have been caused accidentally.
Yahoo
23-06-2025
- Yahoo
Mobile home fire in Phoenix burns through 5 homes, leaves more than 30 homeless
On June 22, 2025, Phoenix firefighters were sent to a residential area near 43rd Avenue and Van Buren Street where "multiple" mobile homes were on fire.
Yahoo
23-06-2025
- Yahoo
Phoenix mobile home fire burns 5 units, leaving over 30 residents displaced
More than 30 people were without a home after a fire burned through five mobile homes in west Phoenix, fire officials said. Around 4 p.m. June 22, Phoenix firefighters were sent to a residential area near 43rd Avenue and Van Buren Street where "multiple" mobile homes were on fire, according to Capt. Todd Keller, spokesperson for the Phoenix Fire Department. Flames from the first alarm fire made its way outside the homes, spreading to other units, as crews maintained a position around the blaze, successfully containing it, Keller said. Downed power lines were treated by firefighters, Keller said. There was a power outage in the area, impacting about 60 Salt River Project customers near 41st Avenue and Van Buren Street, as of 6:20 p.m. A total of 33 people across five mobile homes were displaced as a result of the fire, according to Keller. No injuries to residents or firefighters were reported, Keller said. The cause of the fire remained under investigation by the Phoenix Fire Investigations Task Force. This is a developing story, check back to for more details. Contact reporter Rey Covarrubias Jr. at rcovarrubias@ Follow him on Instagram, X, Threads and Bluesky: @ReyCJrAZ. This article originally appeared on Arizona Republic: West Phoenix fire leaves 33 mobile home residents displaced
Daily Mail
08-06-2025
- Business
- Daily Mail
Inside the trailer park house-flipping phenomenon that is earning Americans big bucks
Up to 21 million Americans live in manufactured homes, also known as mobile homes and trailers, and savvy buyers are cashing in on demand for these tiny homes to make big bucks. Byron Sellers, 39, of Tampa, said he has seen an increase in mobile home owners since he started flipping homes in 2018. 'It is cheaper,' he told 'Lots of people are being pushed out (of the main housing market).' Victoria, of New York City, who asked to go by her first name, agreed. She rents her Upstate New York and New Jersey mobile homes for $1,350 a month. That price, for a three bedroom, one bathroom home, is steeply cheaper than even studio rentals in the metropolitan area. 'Everybody wants a mobile home,' she told 'You can even move it.' Both Byron and Victoria got started in the industry after they realized how expensive flipping residential homes was and how much more cost effective trailers are. Byron started flipping homes near the Chicago area after he lost his job in 2016. He and his wife bought their first two mobile homes in March 2018 for a joint price of $4,300 in a trailer park. Within 45 days, their ready-to-live-in trailer sold for $9,500. After putting in $3,000 of renovations into the second one, it sold for $10,000, Byron told Some trailers, they've gotten even cheaper than that. 'I've gotten some for free,' Byron revealed. Since starting their business, they've made a low six figures from flipping homes alone, Byron said. Another $400,000 from mobile home parks and their equity in them. And another $40,000 teaching others how to do what they do. The reason Bryon and his wife, Sharnice, migrated into the mobile home market was because the former had wanted to get into real estate for a long time, but multi-family homes were largely outside his budget. He first heard of mobile home flipping while driving for a rideshare company and listening to a podcast to pass the time. He shared it with Sharnice and the rest is history. Victoria agreed that sometimes landlords are just want something to move fast, so they'll hand it off for free. So far, the New York mogul has gotten two mobile homes for free. Victoria has made around $80,000 doing the same, and put roughly $30,000 into the renovations of her seven homes - three of which she still owns and rents out. Victoria says she sees a lot of Latinos snapping up hers and they're mainly upper lower and middle class families. Meanwhile Byron and Sharnice have found that many of their buyers are usually within the $20,000 to $40,000 salary range, typically between the ages of 30 and 69 and are white or Hispanic. 'You have a bigger buyer pool of cash buyers,' Byron told But not every mobile home is a steal. Since moving to Tampa, Byron has seen some trailers for the prices of starter homes. And some parks even have pools, pickleball courts, and convenience stores. Those areas, however, are typically geared toward those in retirement and typically go more than $100,000. Even without those perks, living in a mobile home can be a cost-effective strategy for those pinching pennies but looking for an affordable home solution. Trailers typically run for $50,000 to $100,000 cheaper than a traditional home, Byron said, and there are no Homeowner Association fees to pay. After purchasing the home, if buyers live in a park, they will have to pay to lease the land. On top of that, mobile homes are classified as property, like cars are, so insurance prices and property taxes are much lower than standard homes. However, unlike homes, they don't retain their value. But for those willing to invest time and money into renovating them, they can make plenty of money doing it. They 'don't depreciate' as much as people might warn you, Victoria told Byron recently acquired a trailer for around $85,000, after fixing the septic tank and putting in $40,000 of work into it, he and his wife sold it for $212,000. Another one, which was move-in-ready, he spent $200 for a cleaning crew and turned the property around and sold it for $7,000. He got the trailer for free as someone was being evicted, he said. On average he puts anywhere between $3,000 to $20,000 into the renovation and hopes to sell it for three times the price he put into it. Since moving to Tampa, as it is a harder market, the couple hopes to net at least 50 percent more than what they paid. 'After the hurricanes, it's harder,' Byron told 'The market has slowed down.' However, people are 'still buying' and he doesn't foresee the market ever becoming obsolete. 'It's a niche market,' he admitted. 'I just see the future of them. People are going to need affordable housing.' The most Victoria has ever spent on a renovation was $6,000, spending less than that on average. When she redoes a home, she focuses on the bathroom and kitchen, as she says those are the most eye-catching to potential buyers.
