Solamar Knowledge Center

Understanding Solamar Ownership

Solamar is not simply a manufactured home community. It is a unique land-owned coastal neighborhood where location, views, lot characteristics, financing eligibility, and redevelopment potential are often major drivers of value. These guides explain what that means in practice.

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"Most buyers come to Solamar thinking about the price per square foot of the home. The buyers who understand this community realize they're really purchasing a coastal land position — one where the structure sits on real property, where financing options are broader than most people assume, and where the potential for redevelopment adds a dimension of value that doesn't exist in space-rent parks."

— Julie Koleszar, Broker/Owner · First Principles Real Estate · DRE #01843157
Educational Guides

What Every Solamar Buyer Should Know

These topics come up in nearly every Solamar transaction. Understanding them before you buy — or sell — puts you in a much stronger position.

01
Foundation & Title
What Is a 433A — and Why Does It Matter in Solamar?

A 433A is a recorded document that permanently affixes a manufactured home to real property. It's the difference between a home that can be financed conventionally and one that cannot. In Solamar, the 433A status of each property has direct implications for financing, value, and future options.

Foundation certification Real vs personal property Financing implications Value implications
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02
Ownership Structure
Chattel vs Real Property — What Solamar Buyers Need to Understand

Not all manufactured homes are created equal. Whether a home is classified as personal property (chattel) or real property affects property taxes, title, financing options, and resale value. Pre-HUD and post-HUD homes have different characteristics — and Solamar has both.

Pre-HUD homes Post-HUD homes Property taxes Title differences
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03
Financing
Financing a Solamar Home — Your Options and What to Expect

Financing in Solamar is more nuanced than a standard home purchase. Conventional, FHA, VA, and manufactured home loan programs each have different eligibility requirements — and which one applies depends on the specific property. Here's what buyers and sellers need to know.

Conventional financing FHA & VA options Interest rate differences Buyer considerations
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Why This Knowledge Matters

What Most Agents Don't Tell You

These topics are rarely explained clearly to buyers before they make an offer. Understanding them can affect your negotiating position, your financing options, and the long-term value of your investment.

The 433A Changes Everything

A home with a recorded 433A can qualify for conventional financing. One without it may be limited to chattel (personal property) loans — which carry higher interest rates and shorter terms. In Solamar, this distinction can mean a $200–$400/month difference in mortgage payment on the same purchase price.

Pre-HUD Homes Have Specific Financing Constraints

Homes built before June 15, 1976 — the HUD standard cutoff — face financing restrictions that post-HUD homes do not. Several Solamar homes were built in the late 1960s and early 1970s. Understanding the implications before making an offer avoids costly surprises in escrow.

Land Value Is Often Underestimated

In Solamar, buyers are acquiring a coastal land position in addition to a structure. On Oceanview Drive, the land itself — and its redevelopment potential — is a major component of the $1M+ valuations. Understanding this distinction reframes how you evaluate price per square foot.

Cash Buyers Have an Advantage — But Aren't the Only Option

Most Solamar sales close cash. But qualified buyers can finance, and those who do can compete effectively with the right pre-approval and the right lender. Working with a lender experienced in co-op manufactured home transactions is essential.

Questions About a Specific Property?

The 433A status, HUD classification, and financing eligibility of each Solamar home varies. Before making an offer, it's worth a 10-minute conversation with Julie to understand what you're buying and what your options are.

Ask Julie a Question Call 760-468-0154