Land lease verses owning the land. (Dover, Magnolia: leases, homeowners association, buying a home)

[elizamary]

Originally Posted by Summering

re like a 12 X12.
Just using that to say........deals can be done........and in a decent way.
Not speaking in the millions on Pots N.....but, just a decent buy out.
Whatever the home is worth, with an honest appraisal.
The man has no Karma right now.......I pray he gets some.
He is so rightous, I doubt there is a spot for it however.

Wow!! that was quite a mouthful!!

Isnt' this forum great!! with everyone stating Mr Tunnel is a greedy SOB, this is bound to hurt his business a tad? Hope so anyway.

We moved in SM and I have been ranting how much we love it. I think there have been prospective buyers visiting on account of my good ratings.
so there is a little bit of influence here.

[Gone-2-Beach]

I hope that Debbie is able to give you some form of "brownie points" for your recruitment efforts to Southern Meadows. You certainly qualify as a goodwill ambassador.

Charley

[elizamary]

Originally Posted by CMTAD

I hope that Debbie is able to give you some form of "brownie points" for your recruitment efforts to Southern Meadows. You certainly qualify as a goodwill ambassador.

Charley

I'm posting on city data to learn about the area myself and make friends. Plus, I enjoy talking and meeting different people.
We had a great time meeting Joyce and Ron for dinner last night. Mary and her boys joined us and it was most enjoyable.
They are a neat, fun couple!

We have had friends and some relatives over and showed them around the community. Debbie did say if one was to purchase a home, we would be compensated.
No one has up to date.

With the way my retirement, selling of our home and buying this home went so perfectly, I am so grateful.
And if I can help just one person, it would be well worth it.
Everything we went through couldn't of have worked out more perfectly than if I wrote the outcome myself.

[Gone-2-Beach]

Originally Posted by elizamary

We had a great time meeting Joyce and Ron for dinner last night. Mary and her boys joined us and it was most enjoyable.
They are a neat, fun couple!

That is wonderful ...

... and of course we're all waiting for the restaurant review

I'm really happy that you've had the opportunity to get together and meet each other. I can't wait until the end of December when I get a chance to come down as well.

Charley

[rockky]

There was a letter to the editor in the News Journal last week from the head of the Manufactured Homes Assoc. of DE.

You will need to scan down to find it, but here's the link:

delawareonline ¦ The News Journal, Wilmington, Del. ¦ Our Readers' Views

It was pointed out to me that when you consider that home owners/buyers are taking a risk, so is the 'landlord'. As in the case of Pot Nets, the land was developed years ago when it was at a relatively low value. Now the guy is sitting on a gold mine and is stuck. The Tunnells made choices which left them unprotected as well. However, the choices were made.

I don't think raising the land rent to force people out is the honorable way to go. One idea.....if a developer or Tunnell himself chose to go with traditional ownership for land/home ownership, why not come in and offer homeowners a fair $$ for their homes. After all, they would be paying for the structure only. The value is in the land. Hopefully, the homes would be bought out at a higher amount than the 10% the poor guy got when his/her $150,000 home was picked up at auction by Tunnell.

No. The developer probably would not make as *much* money, but they would still make a great deal of money. Hopefully, the home/structure owner wouldn't loose as much. Like eliza pointed out, I do think the big ship has sailed with high end homes. The smartest time to do the buyout was probably 10 years ago.

Just thinking out loud. I'm really not at all smart with this stuff. Besides, it's a free market and buying/selling will be what the market allows.

Each side was taking a risk at the on set with a land rent policy.

As with all things in life, it depends on which side of the window we sit.

[elizamary]

Originally Posted by rockky

There was a letter to the editor in the News Journal last week from the head of the Manufactured Homes Assoc. of DE.

You will need to scan down to find it, but here's the link:

[which side of the window we sit.

Hey Rockky...........Interesting!! I didnt' know if over 62 you were protected by law if you can't pay lot rent.
That is why I love this forum. So much good information

[elizamary]

Originally Posted by CMTAD

That is wonderful ...

... and of course we're all waiting for the restaurant review

I'm really happy that you've had the opportunity to get together and meet each other. I can't wait until the end of December when I get a chance to come down as well.

Charley

Sorry I forgot
Food was excellent Charlie, just as you reported. That sweet potato must of weighted 5 lbs. I had to bring it home and had half yesterday and will have the other half today.
I would recommends pigs to anyone. Loved that pulled pork.

Looking forward to your visit in Dec. So far it looks like we will be in the area that week and not Maine.

[peeweeaz]

Eliza,
You reminded me that awhile back I mentioned to you my next door neighbors were born and raised in Maine. (You may have forgot - it happens as you get older. Anyway, One is from Portland, the other Machias, a small town in the Northeast corner of the state.

[elizamary]

Originally Posted by peeweeaz

Eliza,
You reminded me that awhile back I mentioned to you my next door neighbors were born and raised in Maine. (You may have forgot - it happens as you get older. Anyway, One is from Portland, the other Machias, a small town in the Northeast corner of the state.

Yes Bob, I do recall you saying something about this. My daughter lives in Kittery Point which is right over the border from New Hampshire on the coast.
Beautiful part of the USA with rocky coast line and a vast area that is uninhabited.
The last time I was there, we drove through Portland. Quite a big city.
Want to drive up NH to Quebec next fall and come down western Maine through the wilderness. That is the plan anyway.

[beachbird]

Fro you who are new to the owner of modular or mobile homes on leased lands, you may want to ask your Homeowner Association about tao bills which are coming out of the Manufactured Housing subcomittee (hopefully) to be debated. SB 122 is a right of refusal that would allow a community to buy its land from the owner when it is offered for sale--Did you know that your owner only has to give you a year's notice to vacate the leased land?
Where will you move your home?
The other piece of legislation is Hb258 which requires a park owner to justify any annual rent increases which are above the CPI (consumer price index).
For those of us who ignored the advice of a licensed realtor and bought into a leased community, lot rents have risen sharply especially in communities where water access or views are offered. Is anyone prepared to see their lot rent raised to the Fair Market Rental which is a number devised by the land owner--based on lot prices in non -leased communities.
If you want more information about the bills, I suggest you contact the Delaware Manufactured Home Owners Association (phone number is in the Lewes/Rehoboth book) or call your state Senator or District representative and voice your questions and concerns.
There are some genuinely humane family park owners out there who are probably mystified by the increases demanded by their peers in the business. Many of the communities are not owned locally but by out-of-state investors--does that contribute to the greed? But greed does exist--if annual rents with numbers like $5,000 to $17,000 per year payable in one lump sum shock your sensibilities, you may want to lose some of our natural complacency and ask, "Why? or When?"