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Cross-Mod Manufactured Homes

RSW

Thread Starter
Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Well, here is something new. At least for me. The manufactured home industry has started building manufactured homes to a higher quality and in the design of modular homes. Fannie & Freddie have both created financing products for these homes. I just got my first appraisal request for one here in the Knoxville area. It looks just like a modular home, is delivered on axles and wheels, lifted by a crane and placed on a permanent foundation. It has HUD tags on both sections and a data plate on the interior. It is very difficult to tell the difference between a cross-mod and a modular home from the street. Be very careful out there because real estate agents don't know the difference either. There is very little data available online.

Here are 3 I took photos of:

1581539678176.png
1581539705895.png
1581539729585.png
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
I would want to tour their facility before I say they are comparable to prefab even, but there is great potential for this to "work" as housing becomes ever more unaffordable.
 

David S. Roberson

Senior Member
Gold Supporting Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Haven't heard "Cross-Mod"; there's another name for these but I can't remember it right now.
 

David S. Roberson

Senior Member
Gold Supporting Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Maybe I'm thinking about Fannie's MH Advantage program.
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Why? Just why?
 

Renee Healion

Elite Member
Gold Supporting Member
Joined
Feb 21, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
Greek Revival MHxMod
Got them pillars, pediments, and maybe a pilaster somewhere
Part of the new old wave of classical architecture coming to a corner near you lol
 

Lee in L.A.

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Almost looks like a "real" house. :peace:
 

Jo Ann Meyer Stratton

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Arizona
Freddie Mac through the Appraisal Institute is presenting seminars all over the county about their New Generation manufactured homes. They have to meet both FHA/HUD requirements and code and also meet Freddie Mac's requirements over and above the HUD code. They are still manufactured homes. Fannie Mae's is called the Choice Program.

Go to the Appraisal Institute website and look for their manufactured home seminars, they are holding this course in every state. I took the one in Phoenix last year, the instructor was the main person for Freddie Mac's manufactured home home policy. Excellent seminar, I strongly recommend all appraisers to attend that seminar. Just heard from students at the one in Tucson on Weds, they were very impressed with the seminar also and learned a lot. Freddie Mac designed the course and now AI instructors are teaching it.
 
Last edited:

Renee Healion

Elite Member
Gold Supporting Member
Joined
Feb 21, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
Freddie Mac through the Appraisal Institute is presenting seminars all over the county about their New Generation manufactured homes. They have to meet both FHA/HUD requirements and code and also meet Freddie Mac's requirements over and above the HUD code. They are still manufactured homes. Fannie Mae's is called the Choice Program.

Go to the Appraisal Institute website and look for their manufactured home seminars, they are holding this course in every state. I took the one in Phoenix last year, the instructor was the main person for Freddie Mac's manufactured home home policy. Excellent seminar, I strongly recommend all appraisers to attend that seminar. Just heard from students at the one in Tucson on Weds, they were very impressed with the seminar also and learned a lot. Freddie Mac designed the course and now AI instructors are teaching it.
We have modular houses here because they are considered equivalent to site-built. We don't have manufactured houses in my area except in parks or, in few instances, remaining on owned land (grandfathered). Most manufactured are zoned out here, except as replacements for an existing one. Are these expected to cross over as modulars, in effect?

I respect Jo Ann's knowledge in this type of property They are common near her and widely-accepted. I just don't see them happening here soon given local regs which are town by town, so I ask.

(Pillars--just joshing Terrel and his federal Greek temple building hopes from another thread. :leeann2:)
 
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