©2011 Cengage Learning. Chapter 14 Single-Family Homes and Mobile Homes California Real Estate...

Chapter 14Single-Family Homes and

Mobile Homes

California Real Estate Principles


Chapter 14 1. Identify construction terms associated with

home building.2. Differentiate among architectural styles.3. Discuss the advantages and disadvantages

of owning a:a. Mobile homeb. Condominiumc. Vacation home

4. List the advantages and disadvantages of owning versus renting.


Home Construction Styles

One storySimplest to buildEasiest to maintainOccupies more land

per square foot of living space


Split Level HomeMore expensive to buildBetter utilization of landGood for varying topographyPleasing cosmetic effect


Two Story Home

Lower cost per square footDifficult to reach some of exterior areas One foundation One roofStairs


Roof StylesOne sided

FlatShed

Two sided Gable *

Four sided Hip *Gambrel *

Five sided VictorianMansard *Pyramid


Architectural StylesColonial:

New England, Georgian, Southern, Dutch

California:Bungalow, Ranch*, Monterey *

English:Elizabethan, Tudor

French:ProvincialNorman


Architectural Styles

Victorian*

Spanish

Contemporary

Mediterranean or Italian


Construction Details


Key words:

A. Ceiling joist

C. Cripples

D. Bracing

E. Fire stop

F. Flashing

G. Floor joist

L. Rafter

O. Stud

Remodel: Ceiling joist & studs


Remodel: framing & studs


Remodel: Header, studs, foundation, & floor sheathing


Manufactured Home Sales

If made after June 15, 1976, it must have a HUD tag

If purchased after July 1, 1980 can be taxed as real estate if attached to a permanent foundation

Licensees should read mobile home Residency Law Civil Code 798 and Mobile Home Parks Act Sections 18200 of Health and Safety Code


Selling Manufactured HomesNEW manufactured home must be sold by

Mobile Home Dealer, licensed by Dept of Housing & Community Development.


• USED mobile home can be sold by DRE Real estate licensee if the mobile home has already been registered with Department of Housing and Community Development

Manufactured HomesSingle: 8 foot x 10 foot wideSingle: 10 foot wide unitMultiple-wide, double-wide or triple-wideQuad: four units together


Financing Mobile HomesConsidered personal

propertyRecorded Security

agreement (not trust deed)

FHA, DVA and Cal-Vet loans

Bank conventional loanAmortized for 15 or 20 year

termHigher interest rate than

conventional home loans


CondominiumsCondominium – exclusive interest in living unit

and common interest in remainder Condo developments have an owner

elected governing board of directorsCondos may be residential,

commercial or industrial


Condominium

Owner can sell individual unitInsurance usually with associationIncome tax benefit of home ownershipLower maintenance costs for amenities Individual loan with equityOwnership appreciationMore amenitiesHomeowner association dues


Vacation Homes

Risk – Greater risk than principal homeLiquidity – Ability to convert home to cashManagement – Cost and time at a distanceTax aspects – Deduct loan interestAppreciation – Increased future value


Rent or Buy?Amount of cash

Down payment or refundable depositMonthly payment

Fixed, variable or known future rent increasesMobility

Long term or short term housing needMaintenance

Time, money, convenience, tax benefitsAppreciation

Future cash or rental incomeSecurity

Stable and more known or unknown


Review Quiz Chapter 141. A real estate licensee can sell used mobile

homes provided the mobile homes have been registered with the:a. Department of Housing and Community Developmentb. Federal Housing Administrationc. Department of Veterans Affairsd. Department of Real Estate


Review Quiz Chapter 14

2. Which of the following regarding mobile homes is true?a. interest rates on loans are usually lower

than on conventional homesb. they usually depreciate more rapidly than

a conventional homec. they cannot be financed using FHA, VA, or

Cal-Vet programsd. in most cities, they are allowed to be placed in any residential area


Review Quiz Chapter 143. One advantage a two-story home has over a

one-story home is:

a. usually less cost per square foot to build

b. ease of access to the roof

c. convenient floor plan for disabled people

d. easier to maintain


Review Quiz Chapter 144. What portion of the building do the upright beams, known

as studs, rest upon?a. collar beamb. floor joistc. fire stopsd. sole plate

5. Which of the following is false regarding condominium ownership?a. There are commercial as well as residential condos.b. Each owner has an undivided interest in common areas.c. Airspace within each unit is held as fee simple ownership.d. All condos are single level buildings.


Review Quiz Chapter 146. Which of the following roof styles is best

described as a "pitched roof sloping from two sides with the sides meeting at the top"?a. gable roofb. gambrel roofc. hip roofd. mansard roof


Review Quiz Chapter 147. In the construction of a frame house, the short vertical 2" x 4"

boards above or below a window opening are commonly called a cripple or a:a. lintelb. sole platec. headerd. cripples

8. In order to protect a building from seepage of water to the inside, around chimneys, and in the valley of the roof, builders use what is known as:a. flashingb. mattingc. drain piped. curbing


Review Quiz Chapter 149. All registration fees on the transfer of title to a mobile home

must be paid within:a. 5 daysb. 10 daysc. 15 daysd. 30 days

10. Before purchasing a house, a person must decide whether to rent or buy. In considering the pros and cons, which would be considered an advantage of owning rather than renting?a. tax deductionsb. possible appreciationc. controld. all of the above


Answers to Chapter 14 Review Quiz1. A 6. A

2. B 7. C

3. A 8. A

4. D 9. B

5. D 10. D


©2011 Cengage Learning. Chapter 14 Single-Family Homes and Mobile Homes California Real Estate...

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