Ch15 Single-Family Homes And Mobile Homes

Front 1

Roof styles pg 388

Back 1

Back (Definition)

Front 2

New England colonial pg 389

Back 2

A box shaped two-story house with the center entrance, where the siding, and shutters

Front 3

Georgian colonial pg 389

Back 3

A brick two-story house with the center entrance and a hip roof

Front 4

Southern colonial pg 389

Back 4

A two-story house with pillars and shutters

Front 5

Dutch colonial pg 389

Back 5

A two-story house with a Gambrell roof

Front 6

California bungalows pg 389

Back 6

A small one story house with a low pitched roof

Front 7

California ranch pg 389

Back 7

A one story house with a low pitched roof and a sprawling floor plan

Front 8

Spanish home style pg 389

Back 8

The house with the tile roof and arches

Front 9

Cape Cod home style pg 389

Back 9

A house with the second story above the eaves, a high pitched roof, wood siding, and a large chimney

Front 10

French provincial pg 389

Back 10

A formal house with a high-pitched slate hip roof, a stone or brick exterior, and shutters

Front 11

Victorian pg 390

Back 11

A house with ornate gables

Front 12

English Elizabethan pg 390

Back 12

A house with a high-pitched slate roof, rough half timbers, and a plaster exterior

Front 13

Monterey home styles pg 390

Back 13

A two-story house with a front balcony

Front 14

French Norman home style pg 390

Back 14

A house with a tower as the main entrance and a steep roof

Front 15

English Tudor pg 390

Back 15

A house with a high-pitched slate roof, a cathedral lake entrance, and masonry exterior

Front 16

Mediterranean or Italian home style pg 390

Back 16

A house with the tile roof, the stucco exterior, and rounded decorative work above the windows

Front 17

Mobile home types pg 392-393

Back 17

1.Single 8foot and 10 foot wide units

2. Single 12 foot wide units

3. Multiple-wide, double-wide, or triple-wide units

4. Quads- four units together

Front 18

Can new mobile homes be sold by real estate licensees pg 393

Back 18

No only used mobile homes

Front 19

Legal requirements related to mobile homes

Pg 393

Back 19

1. Cannot sell new mobile homes only used one

2. Home must be capable of being transported over road. Hitch must be attached and axles must still be attached to frame

3. Licensee is responsible to see that there is proper completion and delivery of the title to the buyer

4.Notification of transfer of ownership must be made within 10 days of the sale date

5.all fees must be paid to the state within 10 days of the sale date

6.no concealment of a material fact or any other fraudulent act may be committed

7.Mobile home owners must pay in in lieu of tax similar to regular property taxes paid by homeowners

8.mobile homes developed after June 15, 1976 must have a Department of Housing and Urban Development tag (HUD)

Front 20

Financing a mobile home

Pg 394

Back 20

Financed through FHA VA and Cal-Vet . 15 year periods and interest rates are usually higher than conventional home loans

Front 21

Modular homes pg 396

Back 21

A factory built home without wheels that is intended from the beginning to be placed on a permanent foundation not considered vehicles like mobile homes

Front 22

Condominium pg 396

Back 22

A system of individual fee ownership of the unit in the complex that can be for any use, combine with ownership in common with the other owners of common areas of the structure and the land

Front 23

Risk pg 398

Back 23

The possibility that you will lose all or part of your initial investment

Front 24

Liquidity pg 398

Back 24

Refers to the ability to convert your investment to cash quickly

Front 25

Management pg 399

Back 25

Refers to the cost and time involved in overseeing the investment

Front 26

Tax aspects Pg 399

Back 26

Refers to the income tax laws and their impact on the investment

Front 27

Appreciation pg 399

Back 27

An increase in value in demand exceeds supply