Tag Archives: manufactured housing

Save the Dates! Louisville 2018

Time to Put it in Your Calendar: The Louisville Manufactured Housing Show 2018

January 17-18, 2018

Kentucky Exposition Center

Louisville, Kentucky

 

The Louisville Manufactured Housing Show is the Midwest’s Premier Event for Manufactured Housing Professionals. Make sure you save the dates for this fantastic event!

From thelouisvilleshow.com:

The Louisville Show will treat you to a spectacular array of NEW HOMES, PRODUCTS, AND SERVICES. Whatever your inventory requires, you’re likely to find the most exciting single-section and system-built homes. It will be a feast for the eyes for all of you, with endless possibilities and combinations. It’s also an excellent opportunity to cut great deals; be the first to see new product/home introductions; talk with R&D and marketing execs; compare prices, service and follow-through…and network with industry professionals.

Get more information and sign up to get email updates about the Louisville Show 2018 at the website: thelouisvilleshow.com

IMPORTANT NOTICE: This is an industry trade show. Not a public show. The public will NOT be admitted to the show.

Legislative Update

Language to Preserve Lending for Manufactured Housing Passes House Appropriations Committee

Legislative language that would preserve lending for manufactured homes cleared another important hurdle, passing the House Appropriations Committee.

In March, Rep. Rep. Andy Barr, R-Ky., along with 32 other members of the House, sent a letter to the appropriations committee imploring lawmakers to remove manufactured housing as a class from the increased protections designed by the Consumer Protection Finance Bureau.

“Since the CFPB’s Home Ownership and Equity Protection Act (‘high-cost’) rules consider costs as a percentage of a loan, smaller loans, like manufactured home loans, often violate points and fee caps,” the letter stated. “Because of the resulting high-cost designation, many lenders have stopped making manufactured housing loans. It is crucial that the definition of high-cost loans is modified so that manufactured housing loans are not unfairly swept under the high-cost designation simply due to their size.”

Census data shows that nearly 20 million people in the U.S. live in manufactured homes.

The bill, H.R. 1699 – “Preserving Access to Manufactured Housing”, resides in $20.2 billion Financial Services Appropriations bill that provides annual funding structure for the departments of Treasury and Judiciary, the IRS, the Small Business Administration, the Securities and Exchange Commission and other related agencies.

The language will need to pass the full House before moving to the Senate and White House before coming law.

In a prepared statement, the Manufactured Housing Institute offered its support of the efforts.

“The successful inclusion of the language demonstrates positive momentum and follows inclusion of the language in the Financial CHOICE Act, financial reform legislation that passed the House of Representatives earlier this month,” the statement read in part.

MHI is the national trade organization representing the factory-built housing industry.

Rachel Hernandez is ‘going it alone’

‘Mobile Home Gurl’ finds her niche

In her own words, the woman known to some as “Mobile Home Gurl” is an entrepreneur, a dreamer, a thinker. A doer.

Rachel Hernandez, AKA “Mobile Home Gurl”, addresses the audience at a recent author’s seminar.

She started investing in real estate with single family homes, but her mind was captivated and heart captured when she immersed herself in the world of mobile home investment. And she’s taken quite a few of us on the ride with her, in her blog and in the book “Adventures in Mobile Homes” and others.

Rachel Hernandez, as she also is known, operates in the vicinity of San Antonio, Texas. She prefers to buy locally to regionally, and rather than looking for parks she has concentrated on purchasing individual mobile homes, and and more recently securing the land they sit on or a good parcel where they can be placed.

“I focus on the area first and then find the deals,” Hernandez said. “As an experienced investor, I’ve learned to find motivated sellers. Usually, I can tell over the phone whether a seller is motivated or not.”

Strategy

Most of the deals Hernandez pursues are unadvertised. She has an education and background in sales and marketing, and networking is among her greatest strengths. She leverages that capability and relies on her industry interactions and relationships to find opportunity.

Her first deal took about a year to complete, and she continues to take it relatively slow. She purchases one or two homes at a time, and puts her “sweat equity” into them.

“Usually, I get them up to apartment standards,” Hernandez said. “New carpet and paint at a minimum.” She fixes the leaks, fills any cracks or holes and gives a thorough cleaning. Then she offers the home on a rent-to-buy plan.

“Most people appreciate this hybrid as it’s not like a mortgage where you’re locked in, but at the same time you’re not just renting,” she said.

Her inventory is on the rise, to the point where she owns in quantity what would be a small mobile home community. She does receive regular offers to partner, but has resisted the urge to purchase an entire community outright. She remains on the lookout for land, and does work in communities buying both homes and pads, operating just on the fringe from that investor who looks to buy or infill on a larger scale.

Investing-in-mobile-homes

Meet the Challenge

And while she appreciates having all of the particular on paper, she mostly “follows her gut” when deciding what to pursue and what to leave alone.

“It’s more the person than the price. If the person I’m talking with on the phone does not seem trustworthy, or seems like they’re covering something up…  I back off immediately,” she said. “No matter how good the deal sounds, an untrustworthy seller is a deal breaker for me.”

Still, Hernandez has run into problems.

“I imagined buying a home, filling it and moving on to the next deal,” she said. “Though I did this for many years without many issues, I started taking back more homes as my inventory grew.”

A rent-to-own resident loses a job, goes through a divorce or wants to move closer to family, and sometimes the only solution is to reclaim the home and find someone new for it.

“I knew taking homes back was part of the business. But I didn’t plan on it being a large one,” Hernandez said. “So, I had to learn to work with contractors. There was no way I could fix up all these homes myself.”

Another difficulty has nothing to do with residents and everything to do with one of her favorite parts of the vocation… the prime location.

“Unfortunately, sometimes local ordinances may place more scrutiny on mobile home parks, as an asset class,” she said. “There’s still that mindset.”

The not-in-my-back-yard attitude, the general concern of reduced property values, and the perceived threat of residents who pay less tax than many for the same municipal services, often can be difficult issues to navigate when looking to obtain rezoning or a new use permit – regardless of the great need for more affordable housing.

All part of the journey, Hernandez said.

The take-back and fix-up strategy, as well as the municipal hurdles, have resulted in another of her books, this one entitled “Real Estate Investing Sucks: How to Deal with Change and Find Success as a Real Estate Investor”.

“I document my entire experience,” Hernandez said. “I persist. I know what I want and keep going. Success takes time.”

Michigan Home Shipments

New-Home-ShipmentsMichigan receives large numbers of new home shipments

OKEMOS, Mich. — According to reports from the Manufactured Housing Institute (MHI), Michigan ranks fifth in the nation in new home shipments for the first quarter of 2017, with 1,261 new homes shipped, an increase of nearly 80 percent from the 702 shipments recorded in the first quarter of 2016.

“Our members are seeing interest and sales of new homes like they haven’t experienced in almost a decade,” said Darren Ing, director, Michigan Manufactured Housing Association (MMHA).

For comparison, in 1996, Michigan received more than 12,000 new home shipments; in 2010 325 new homes were delivered to the state.

“The Michigan market has come back tremendously over the past years and communities are playing a large role in that,” said Tim Kuhn, sales manager for Clayton Homes.

One MMHA member in particular — AJR Development — is especially pleased with the renewed interest in manufactured homes.

“In 2017, we licensed a 90-site expansion called Emerald Park in our flagship community, Ridgewood, located in Milford, Michigan. We opened in May of 2017 with more than 20 lots pre-sold. Demand remains very strong and we are seeing double digit monthly home sales in the $85,000-$100,000 range,” said Jerry Ruggirello, managing member, AJR Development.

Reverberations of increased sales go beyond community expansions. For example, HomeFirst, in Birmingham, Mich., needed to hire more people. “As a result of the large increases in traffic across our entire portfolio, we added three home specialist staff to our sales offices to meet the demands of the incoming traffic,” said Danya Mallard, vice president of sales and marketing for HomeFirst.

“With the level of quality product being presented by manufacturers, we expect interest and sales to continue to grow,” Ing said.

MMHA is dedicated to educating the public about the benefits of manufactured and modular home living, connecting people interested in finding a community or home with its members. The Michigan Manufactured Housing Association (MMHA) is one of Michigan’s oldest trade associations, founded in 1941. MMHA is a nonprofit association representing the manufactured home industry in Michigan. MMHA works to improve the image of manufactured and modular housing by educating consumers, media and government about the quality, affordability, design and beauty of the homes. For more information, visit the Michigan Manufactured Housing Association at www.michhome.org. Contact MMHA by mail at 2222 Association Drive, Okemos, MI 48864-5978 or by phone at (517) 349.3300.

Press Release Provided By:
All Seasons Communications
Gretchen A. Monette, gmonette@allseasonscommunications.com
Phone: (586) 752.6381

New Feature: The MHVFastLead

Have you checked out the latest feature on MHVillage?

The MHVFastLead!

MHVFastLead sends you a text instantly when you get a lead.

Lead response time is essential. With this new feature you can respond to customers almost instantly – and hopefully while they are still looking at your ad!

You can customize when you receive alerts. You choose the days and time of day you want text notifications of leads sent to your phone.

Check out this video for more information on how to start using this feature:

 

Save the Date – SECO 2017

350+ small and mid-size manufactured home community owners and other industry personnel will attend SECO17 on October 11-12, 2017 in Marietta, Georgia.

New location this year:

Hilton Atlanta/Marietta Hotel and Conference Center
Marietta, Georgia

This year we’ll be meeting at the idyllic, and historic, Hilton Atlanta/Marietta Hotel and Conference Center. Their grand structure and idyllic location warmly welcome guests traveling for SECO17. Stay at this hotel in Marietta, GA, and be near hiking, mountain trails and the on-site City Club Marietta Golf Course.

Here’s just some of what SECO has to offer:

  • Network with Fellow Community Owners and Managers.
  • Hear the Good, the Bad & the Ugly from Fellow Community Owners
  • Explore New Ways to Run Your Community
  • Acquire the Knowledge to Better Your Bottom-line
  • Get Tips from the Experts – Steps to Becoming More Efficient
  • New Ways to Finance
  • Walk Through Affordable Community Series Manufactured Homes & Interact with Manufacturers
  • Share Ideas and Best Practices to Ensure Greater Success.
  • 501(c)(3) dedicated to community education

Community owners, managers, vendors and other industry personnel from 25+ states are expected. Educational workshops, presentations and panel discussions will complement three days of networking.

Who should attend? Anyone that owns or has an interest in the health and operation of manufactured home communities. Programming is focused on tactics that can benefit those owning 1 – 100 communities. This would certainly include the owners and investors, but also be beneficial for general managers and managers. The networking opportunity with owners/operators will be beneficial for lenders, suppliers, home manufacturers and corporate property managers as well. But there is no mistake – this is a gathering directed by community owners for community owners.

More information about SECO can be found at secoconference.com

MHI Summer Legislative Fly In

Smart industry professionals know that our business has concerns and issues that must be addressed in Washington D.C.. Join the Manufactured Housing Institute for their 2017 Summer Fly-In and make sure your concerns are heard.

From MHI (The Manufactured Housing Institute):

Do You Want Change in Federal Policy for Manufactured Housing?

Join us in Washington, D.C. on June 26-27 at the Hyatt Regency for MHI’s Legislative Fly-In program.

Our story must be heard as Members of Congress consider the many issues that impact our industry. With your participation, we can drown out the misinformation that is being sent to Capitol Hill from those who do not understand the manufactured housing market. We can ensure all Members of Congress understand the importance of manufactured housing as a critical resource for working families and the largest form of unsubsidized affordable housing in the nation.

Let your voice be heard during this two-day program. Visit Congressional offices to advocate for:

-Reducing regulatory burdens to financing for manufactured homes.
-Fighting regulatory overreach by the Department of Housing and Urban Development.
-Fostering economic growth by supporting quality, affordable manufactured housing.

The 2017 Legislative Fly-in program includes:

  • Meetings on Capitol Hill with your Members of Congress or their key staff
  • Lunch on the Hill with presentations by Members of Congress
  • Networking with your MHI peers from across the country
  • Briefing sessions on MHI’s legislative priorities
  • Training on lobbying and influencing your elected leaders
  • Tips on continuing relationships with your elected officials once you return home

A complete schedule of events as well as registration details can be found on the Manufactured Housing Institute’s web site.

 

MHCA MHIA Joint Conference

Please join us at the:

2017 Arizona Manufactured Housing Conference

June 21-23, 2017

Wild Horse Pass, Chandler Arizona

2017 Arizona Manufactured Housing Conference

MHVillage is proud to be be a exhibitor and sponsor at the 2017 MHCA-MHIA Annual Conference. If you are a manufactured housing professional doing business in Arizona, you will want to attend this great event!

 

 

 

Here’s a list of just some of the exciting items on the schedule:

  • Golf Tournament at the Whirlwind Golf Club on June 21
  • Welcome Reception with Musical Entertainment and Silent Auction
  • Keynote by Mark Yost, President of Champion Homes
  • Internet Marketing, by MHVillage’s very own Darren Krolewski!
  • Fair Housing Basics: What You Need to Know w/ attorney Melissa Parham
  • The Hardest Business to Measure is the Business You Lose, by John Underwood
  • Fannie Mae Q & A: Paul Barretto, Fannie Mae
Wild Horse Pass Casino and Hotel

Wild Horse Pass Casino and Hotel

A brochure with an outline for the entire schedule can be found on the Arizona Housing Association website, or you can download it here.

Registration is available at azhousing.org. We look forward to seeing you there!

 

 

Final Input Sought for Fannie Mae, Freddie Mac

The Federal Housing Finance Agency (FHFA) has announced a final request for input on Fannie Mae and Freddie Mac’s (the Enterprises) recently released proposal on Underserved Markets Plans within the “Duty to Serve” program.

Mel Watt, director of the Federal Housing Finance Agency, speaks in Chicago on affordable housing finance initiatives. From left, Paul Mullings, Sr. VP of Single-Family Strategic Business Initiatives for Freddie Mac; Russ Cross, regional manager for community outreach with Wells Fargo, and Sandra Thompson, deputy director in the Division of Housing Mission and Goals for the Federal Housing Finance Agency.

FHFA, the regulator of Fannie and Freddie tasked with enforcing the “Duty to Serve” provision, issued a final implementation rule on Dec. 13, 2016 mandated by the Housing and Economic Recovery Act of 2008.  The statute requires the Enterprises to serve three specified underserved markets – manufactured housing, affordable housing preservation and rural housing in a safe and sound manner for residential properties that serve very low-, low- and moderate-income families.

The rule requires each Enterprise to adopt a three-year Underserved Markets Plan to fulfill this mandate.  FHFA requests public input on the proposed plans through its dedicated web page by July 10, 2017.

It is anticipated that implementation of “Duty to Serve” provisions will create more financing options for potential home buyers, which also would be a benefit for the housing sector, including the manufactured housing industry.

“I strongly encourage stakeholders to submit feedback on Fannie Mae and Freddie Mac’s proposed ‘Duty to Serve Underserved Markets Plans,'” said FHFA Director Melvin L. Watt.  “FHFA will evaluate stakeholder input as part of our review process to ensure that the plans help the Enterprises meet their statutory obligations in a safe and sound manner.”

Each Enterprise will update their “Duty to Serve Underserved Markets Plan” after reviewing public input and FHFA feedback. Each Enterprise’s Duty to Serve Underserved Markets Plan must receive a non-objection from FHFA before becoming effective Jan. 1, 2018.

The objectives in the proposed and final plans may be subject to change based on factors including public input, FHFA comments, compliance with the Enterprises’ Charter Acts, safety and soundness considerations, and market or economic conditions.

Datacomp Releases 2017 Rent and Occupancy Reports for FL Markets

Datacomp Releases 2017 JLT Manufactured Home Community Rent and Occupancy Reports for Florida Markets

jlt-market-2017-florida-market-reportsDatacomp, publisher of JLT Market Reports and the nation’s #1 provider of market data for the manufactured housing industry, today announced the publication of its May 2017 manufactured home community rent and occupancy reports for 31 markets in the state of Florida, now including Bay, Escambia and Leon counties.

Recognized as the industry standard for manufactured home community market analysis for more than 20 years, JLT Market Reports provide detailed research and information on communities located in 130 major housing markets throughout the United States, including the latest rent trends and statistics, marketing programs and a variety of other useful management insights.

Datacomp’s manufactured housing market data published in the May 2017 JLT Market Reports includes many of the major markets for mobile homes in Florida. Together, these manufactured home rent and occupancy reports track 752 “All Ages” and “55+” communities encompassing a total of 208,881 homesites.

Each JLT manufactured home community rent and occupancy report published by Datacomp includes detailed information about investment grade communities in the major markets, including number of homesites, occupancy rates, average mobile home community rents and increases, community amenities, vacant sites, and repossessed and inventory homes.

JLT Market Reports also include management insights that rank communities by number of homesites, occupancy rates and highest to lowest rents. Detailed reports show trends in each market with a comparison of May 2017 rents and occupancy rates to May 2016, as well as a historical recap of rents and occupancy from 1996 to present date in most markets.

The May 2017 JLT Market Reports for Florida are available for purchase and immediate download online at the Datacomp JLT Market Report website at http://www.datacompusa.com/JLT, or they may be ordered by phone in electronic or printed editions at 800.588.5426. Each fully updated report for mobile home communities is a comprehensive look at investment grade properties within a market, enabling owners and managers, lenders, appraisers, brokers, and other organizations to effectively benchmark those communities and make informed decisions.

About JLT Market Reports
For more than 20 years, countless professionals have trusted JLT Market Reports for timely and accurate management reports on land lease manufactured home communities. JLT Market Reports are currently published for 90 markets nationwide and are recognized as the industry standard for manufactured housing industry data. In 2014, JLT & Associates merged its resources, skills and expertise with Datacomp, the industry’s oldest and largest national manufactured home appraisal company and number one provider of market data for the manufactured housing industry, and MHVillage, the premier website for advertising mobile homes for rent and sale nationwide.