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Manufactured Housing facts from the National Association of Home Builders (NAHB) Report

September 3rd, 2014 No comments

The following information comes to us from the National Association of Home Builders (NAHB), forwarded from various state executive directors and MHI.

We estimate that in 2014 the average price of new manufactured homes (including the cost of lot development) is $53,230 for single homes and $100,259 for double homes. Increasing the price of new single manufactured homes by $1,000 will disqualify 347,901 households from being able to afford these homes. Similarly, if the price of new double manufactured home rises by $1,000, 315,385 households will be priced out of the market. The effects are NOT cumulative, since they are based on the same income distribution of all US households. These are NOT effects on sales, rather only on ability to qualify for a mortgage.

Our new manufactured home prices are based on the average sale prices for single and double new manufactured homes reported by The Manufactured Housing Institute (MHI). They are further adjusted for inflation and additional costs of lot development. The inflation factor is the increase in new manufactured home prices from 2012 to 2013 as reported by the MHI. The lot development cost adjustment is based on the NAHB survey of construction costs.

NATALIA SINIAVSKAIA, Ph.D.
Housing Policy Economist
Survey and Housing Policy Research

National Association of Home Builders
1201 15th Street, NW
Washington, DC 20005”

While some voices have made hay out of this report to show that even the home builders agree that price hikes of every $1000 leave hundreds of thousands of potential MH or other home buyers behind, let's flip this for a few moments.

Let's focus on this: “We estimate that in 2014 the average price of new manufactured homes (including the cost of lot development) $53,230 for single homes and $100,259 for double homes.

Using the $53,230 loan amount, a 4% FHA loan for a land/home purchase, at 30 years term the principle and interest (taxes, escrows, other costs not figured into this calculation) would be approximately $269.71 (before you object, yes, some lenders do make and FHA allows for FHA Title II loans on single section homes, the multi-sectional restriction is an overlay that some lenders impose).

Using the same idea as above applied to the multi-sectional with home-site numbers ($100,259) from NAHB's study yields a $478.64 monthly payment (disclaimer again, principle, interest only). This is clearly 'affordable' housing!

Both the GAO in their recent report, and Fannie Mae in a previous study, indicate similar payments that reflect the fact that manufactured housing is the most affordable permanent (as opposed to RVs or other seasonal) homes on the market today.

fanniemae-2011-chart1-affordable-manufactured-housing-posted-daily-business-news-mhpronews-362x430

FYI, credit studies suggest that some 58% of the U.S. has a credit score that is at or above a 692 FICO, as the chart above from Experian and Money-zine reports.

credit-score-chart-courtesy-of-Money-zine-cutting-edge-blog-mhpronews-

When you look at the facts here and consider the satisfaction and affordability suggested by the recently published Foremost Insurance study, or the CNBC discussion on a potential 5 to 6 million Americans who could be buying a home, and a picture of the industry's strong upside potential comes into sharp focus.

But, Tony, I'm not seeing those 692 credit scores at my location!” some say.

Sorry, but that my friends and MH Industry colleagues, is because the wrong kind of sales and marketing approach is being used! “Damaged credit OK” advertising brings you exactly that, and if you don't use those sorts of ads, so many in our industry have for so many decades that this is embedded into the psyche of millions of credit challenged customers. Remember these lyrics… Trailers, for sale or rent, rooms to let for 50c…

When you learn how to attract and sell the site built home buyer, you will get more of that as time goes on.

When you and more in the MH Industry mature to the point that we are selling good homes that are appealing AND affordable, you'll see more sales to cash and good credit customers, and more sales of new MH and MODs. That's a fact and I'm sticking with it! ##

latonykovach-com-brushed-cutting-edge-marketing-sales-blog-mhpronews-com75x75-By L. A. “Tony” Kovach

War, Peace, Bridges and Newsworthy Promotion!

July 17th, 2014 No comments

CNN. Fox. ABC, NBC, CBS, A&E and any network, newspaper, online or other media all have this in common, they promote! They promote themselves and they promote the products and services of others. They don't apologize for those promotions! They don't apologize for advertising themselves or others.

Tim Connor, CSP, author of 80+ books, one of our featured writers and hired by over 100 factory and other building operations said at a Wisconsin Housing Alliance (WHA) meeting that "You have to be a relentless self promoter." This is a fact for any successful business or professional!

You don't apologize for giving someone your business card, or for advertising, marketing, networking live or via social media, etc.. Successful operations and professionals do these things.

uplifting-you-we-agents-for-pleasurable-profitable-uplfiting-positive-change-image=wikicommons(c)poster=mhpronews-com2014-

We are the runaway #1
news, tips and views MH Professional Resource!
Thanks to our sponsors and experts,
we give away more useful info and insights
than anyone else in the Industry!

War and Peace, plus Bridge Building

Is your manufactured or modular home product, community or service a good one? Does it do what you advertise or claim? Does it benefit your customers? Then it is WRONG not to promote it, and do it well!

Guess what, we promote too. And it must be working, because we keep growing and gaining new clients while others have been shrinking, fading or dying.

There are times you have to 'go to war,' and when you do, the smart ones fight to win. Peace is better than war, when you can have peace honorably. That's true between nations and in business too.

bridging-the-gap-is-profitable-the-brdige-frees-those-otherwise-trapped-oneither-bank-the-elk-strawberry-mansion-bridge=wikicommons-poster(c)2014-mhpronews-com-

Bridges pay! You invest in the bridge, but once built, a bridge saves you time and money, and it makes you money.100s-raining-showering-down-2014-cutting-edge-blog-mhpronews- Bridges between you and your customers pay.

Bridges between you and those some might think of as rivals can pay off too. Think win-win, mutual victories and Collaboration vs. Confrontation!

Just the Facts!

We do marketing and sales training. We build websites, we know manufactured and modular homes, retailing and communities. We've won awards, and have been praised by operations of all sizes in our industry. Those are facts, and it should remind you that when YOU need to market better or sell more, you should visit LATonyKovach.com, email or call us!

Some of our clients are very public, and the results are there for all to see.

LouisvilleManufacturedHousingShow.com is a site we've built but also a show we promote! The show hires us to do the education and promotion, and we've been praised for the results, see proof on the link and chart here. As Show Chairman Ron Thomas, Sr. has said in a recent article,

We will once again use L. A. “Tony” Kovach, MHProNews.com aka
MHMarketingSalesManagement.com services to promote this year’s show. His electronic messaging works!”

MHI hired us to promote their Congress and Expo in 2014. Their result? The best attended event since 2008! See and hear the Manufactured Housing Institute (MHI) President and CEO, Richard “Dick” Jennison, say that and thank us for our pro-industry work, at the video linked here.

We take MH and MOD retailers and community operators who are often struggling and turn them into better marketing and sales performers! We teach a proprietary system that makes the phones ring, the doors swing and the cash register Cha-Ching!

mhc-md-latonykovach-client-message-comptuer-report-collage-masthead-mhpronews-com-c

These 83 calls and 61 net leads came in one week.
We've had locations generate over 200 inbound
calls seeking homes in a week, at a low cost per prospect.
We then teach how to handle that call, resulting in more sales!

We do these marketing and training services on a confidential basis, NDAs are part of the deal. So the graphic shown redacts the names, but are actual results reported by computerized call tracking and a text from the business' owner to me. That same operation did less in a year, prior to our starting their program with us than they reported in this one month, shown above!

15-minutes-daily-mhpronews

Every professional from almost any field studies and reads, so they can learn more to earn more! You and your team should invest a minimum of 15 minutes a day on MHProNews.com. You should invest 7 minutes daily on ManufacturedHomeLivingNews.com. Not just owners, but staff should be on our site, learning more to earn more.

But at some point, you may want or need paid services. Be it B2B or B2C, talk to us, because we are proven to grow results. But fair warning! What we do is different! To get a different result, you have to be ready to change. We've innovated, and for those who see it as an investment, working together it pays off for those who put our processes to work!

Whenever you can, learn to Win Wars but also Win in Peace. Learn how to collaborate more successfully with others. Learn to bridge the gap between you and your customers, in a win-win fashion! ##

L. A. "Tony" KovachL. A. 'Tony' Kovach ManufacturedHomeLivingNews.com | MHProNews.com | Business and Public Marketing & Ads: B2B | B2C Websites, Contract Marketing & Sales Training, Consulting, Speaking: MHC-MD.com | LATonyKovach.com | Office 863-213-4090 Connect on LinkedIN: http://www.linkedin.com/in/latonykovach 

Marketing Lessons for Manufactured Housing? Forbes Reports Online Ad Revenue vs. Broadcast TV

April 13th, 2014 No comments

On 4.10.2014, Robert Hof writing in Forbes colorfully reported that, Perhaps the iconic pose of our era is someone squinting at a smartphone screen–replacing another iconic pose, the couch potato pointing a remote at the TV screen.” Hof says that's due in part to the use of hand-held devices, such as tablets and smartphones, which led online ad revenue to now exceed that of broadcast TV.

This is a first, but not an unexpected outcome!

Citing the Interactive Advertising Bureau (IAB) as his source, Hof points out that cable TV still exceeds broadcast and online ad revenues, but the gap is shrinking. The IAB report lays out these facts:

  • U.S. interactive advertising revenues for 2013 hit an all-time high of $42.8 billion
  • 17 percent growth in online revenue, from 2012’s landmark revenues of $36.6 billion. 
  • Broadcast television advertising revenues ($40.1 billion)
  • Digital video, a component of display-related advertising, brought in $2.8 billion in full year 2013, up 19 percent over revenues of $2.3 billion in 2012. As a result, it also increased its share to become the fourth largest format, directly behind mobile.

  • Search revenues totaled $18.4 billion in 2013, up 9 percent from 2012, when search totaled $16.9 billion.
  • Display-related advertising revenues in 2013 totaled $12.8 billion or 30 percent of the year’s revenues, a rise of 7 percent over $12 billion in 2012.
  • Retail advertisers continue to represent the largest category of internet ad spending, responsible for 21 percent in 2013, followed by financial services and closely trailed by automotive which account for 13 and 12 percent of the year’s revenues respectively.

Here are some gems from the IAB report in a graphic format.

credit-iab-report-posted-cutting-edge-marketing-sales-blog-mhpronews-com

When you see “search,” realize that this is one of many reasons Google is getting megabucks.

Think about resources such as Google Ad words, but don't forget to check out our Joe Karn's report – Get your Business on the Top of Google…Guaranteed? – on this hot subject! Joe lays out a potential solution for those who want to use Ad Words, but don't have a huge budget for it. Don't miss it!

Are you Doing the Right Online Marketing?

Note the next highest percentage of revenue in the online report that goes to banner ads.

Banner ads have been a key part of what The Louisville Manufactured Housing Show and the Manufactured Housing Institute have used on MHProNews.com to drive traffic to their events. MHI reported recently that they are up 39% over the same time frame last year, and what else can you point to that is new in their promotion besides exposure on MHProNews.com?

Dennis Hill has laid out facts about the trends on the Louisville Show, which previously had been canceled in 2010, and was brought back in 2011. The big change for the show was again the use of banner ads and articles on MHProNews.

Don't Blow Your Budget! One Size does NOT fit All!

Let's be clear, there are a range of resources online that can yield success, which is part of what this IAB report that Forbes has covered showcases.

A web marketing pro outside of manufactured housing, and not familiar with our industry, might suggest a google ad words campaign to boost the turnout at an industry trade show. We'd say, 'waste of money.' Why? Because adwords generally targets the public at large, and the trade show audience is laser focused. The most viable tool to reach them are the ones we are currently using!

Could there be others? Sure, but that would take a different report than this one. The point is that one size does NOT fit all.

Are You Online? Do You Have an Updated Website?

A prominent state association executive reported that in his state, well over half of the communities had no internet website. Ouch!

Contrast that with the major MHC players, who usually have a serious investments in websites and other online marketing dollars. Or or most MH street retailers, who normally have a website, even if it is 4 to 10 years old (and if so, then it shows…).

Having a modern website, that is mobile friendly, is necessary for modern marking.

As important as websites, social media and other internet based resources are, you can't overlook the rapidly rising role of digital video and its role in marketing.

Digital Video

We are spending more time doing digital interviews, which have been very popular. No surprise! Video is dominating online usage, and is bound to grow in its revenues, as the IAB report and Forbes suggest.

We've reported before in posted columns such as…

More Videos for Manufactured Housing Success!

…vivid, real-life examples of how videos can be used to make points and tell a tale. A key part of what the mainstream media does is interviews. Where are the interviews being done in our industry? Right here!

As an example, if you've not seen the just-added 10 minute interview with Chet Murphree of Deer Valley homes, please check it out. We now have two versions posted; one is about 3 and a half minutes, the other right at 10, both are found at the link below.

http://www.mhpronews.com/home/featured-articles/april-2014/138-general-manufactured-housing-industry-topics/7312-a-cup-of-coffee-withchet-murphree

So Many Tools! Which One is For You?

Imagine the many ways how video and online marketing could be used to impact housing professionals, investors, public officials and the home buying public.

The tools and resources – including modern marketing – needed to grow a for-profit or non-profit enterprise like yours are all in our grasp. If you need a hand in reviewing your budget and marketing program, feel free to give me a call at the number below to set up a time for a discussion. ##

L. A. "Tony" KovachL. A. 'Tony' Kovach
ManufacturedHomeLivingNews.com | MHProNews.com |
Business and Public Marketing & Ads: B2B | B2C
Websites, Contract Marketing & Sales Training, Consulting, Speaking:

MHC-MD.com | LATonyKovach.com | Office 863-213-4090

Connect on LinkedIN:
http://www.linkedin.com/in/latonykovach 

Amway and Autos – Lessons in Branding, UnBranding and ReBranding for Manufactured Housing

October 13th, 2013 No comments

Perhaps the best time to write a column on branding, unbranding and rebranding is prior to the Fall Leadership forum of the National Community Council (NCC) at the Manufactured Housing Institute (MHI). Their workshop on that topic will be one of the items yours truly plans to take in with keen interest, as it is something we deal with routinely in our marketing, sales training, website building and consulting.

The Business Dictionary defines branding like this:

“The process involved in creating a unique name and image for a product in the consumers' mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.”

Let's begin with a fundamental principle to rapidly drive home the point for today's topic.

The value of branding a product or service is dependent in part on the perception and demand of the product or service in question.

For example, autos are in demand. Branding your car company or dealership makes sense, because Ask reports that in 2011, 12,778,885 cars, trucks, SUV and other automotive types were sold in the U.S. alone. Branding your product and/or service to grow your piece of the automotive pie in such a huge market makes perfect sense.

The Free Dictionary defines rebrand as follows:

rebrand [riːˈbrænd] – (Business / Marketing) (tr) to change or update the image of (an organization or product).

As an example, if your company's brand in automotive is suffering, you'd want to consider rebranding.

Let's imagine for a moment that an import auto company like Yugo wanted to change their image, rebranding combined with improved quality controls, marketing, service and sales training could have made the kind of sense that could have saved that automaker from 'crashing and burning' in the U.S. car market.

Almost no one in our industry (besides us and some of our select clients) grasp and use the powerful concept of parallel paths and unbranding, along with when it makes sense to use this principle.

Macmillan defines unbranding as:

Unbranded goods are not marked with a name of the company that makes them.

light-bult-with-trapped-man-credit-flickrcc-swarno-kamal-posted-cutting-edge-blog-manufactured-home-pro-news-mhpronews-.png

What if your dealership, community – or the industry at large – has an image issue? Does rebranding make the most sense? Or would a possible combination of unbranding and/or rebranding make more sense?

Before you answer, consider this fact. Manufactured housing has tumbled from having 21% of the new home starts in the last 20 years to some 8-12% in more recent years.

So rebranding in a shrinking market is like deciding to be a bigger fish in a smaller pond. Wouldn't you rather go after the large housing marketing place, by whatever strategies are necessary to get you there profitably?

Lessons from Amway and Unbranding

As an example to drive home the point, think about Amway. How many people do you know that have run out to sign up to sell or buy vitamins, home cleaning products etc. from a multi-level marketing (MLM) distributor or company?

The image of MLM in general isn't that hot and hasn't been for many years! So what does a savvy MLM distributor or company do? Answer: they teach their marketing minded distributors to avoid the company name and the marketing method in their initial contact.

In no small measure due to their dual campaign of unbranding and branding, Amway became a multi-billion dollar empire for its founders and made millions for key 'direct distributors.'

At MHC-MD.com and in part via our LATonyKovach.com – websites, marketing, training and coaching platforms – we have garnered dozens of recommendations and hundreds of endorsements by using a proper combination of branding, unbranding and rebranding, along with other proven strategies.

Which of these – branding, unbranding and re-branding – does your operation need? The answer to that question can be worth millions to you and billions to our industry. ##

PS: Check our many Exclusive and Red Hot Featured Articles for October and see the other new stories at MHLivingNews.com too.

L. A. "Tony" KovachL. A. 'Tony' Kovach
ManufacturedHomeLivingNews.com | MHProNews.com |
Business and Public Marketing & Ads: B2B | B2C
Websites, Contract Marketing & Sales Training, Consulting, Speaking:

MHC-MD.com | LATonyKovach.com | Office 863-213-4090 

Connect on LinkedIN:
http://www.linkedin.com/in/latonykovach 

Slavery!

April 20th, 2013 No comments

There is an old maxim that goes like this: “First you form your habits, then your habits form you.” Ladies and gents, this is true and over time leads to chains that are as challenging to break as they took time to forge. Habits lead to slavery. The question becomes if we are the masters of that habit – masters of that slavery – or if that slavery masters us.

To rephrase, are we making or breaking ourselves through our habits?

Let me give an example of slavery and an 'aha' moment.

At the recent Manufactured Housing Institute (MHI) Congress and Expo (C&E), I was listening to a group of community owners talking about 21st Mortgage's CASH program. One was commenting to the others words to this effect. “I had all these vacant lots, and knew about this program that Lance Hull at 21st Mortgage had talked to me about. But instead of thinking, 'hey, this is a solution for my vacancy problem,' I was looking at it backwards. I was thinking that if I did that then I was leaving money on the table. I had to change my thinking before I was able to see the program for what it is.”

That happens to be true of EVERYTHING we do in business, not just the example that the gent above was referencing. There happens to be a number of programs available today that could be useful to community owners – or street retailers, for that matter! – but because of slavery to 'past habits' and old ways of thinking, they are not being used to the benefit of a business or location. FYI, yes, you can email and ask me about them.

I was listening to Crystal Washington during the 2013 National Community Council's Forum at C&E. Frankly, most of what she was saying simply made me smile. Of course, we agree! We preach it daily through Featured Articles here on MHProNews, or here on the Cutting Edge of Marketing and Sales blog. Even the video that she played was a version of one that we have featured before on our website.

That video reminds us that like it or not, change is happening, and that the pace of change is rapid.

 

Slavery to old habits keeps you locked up in the past. The only way to end that slavery is ironically to forge new habits! You can't stop doing one thing without starting doing some new thing instead.

That's not to say that all that one did in the past is 'bad' or 'wrong.' But you have to dispassionately evaluate – or have a third party professional evaluate for you – what to keep and what to replace with something modern that will move your location, career or business ahead.

One of the presenters – who did a very fine job – nevertheless made a statement I took issue with. The statement was that 74% of housing shopping was starting online. Sorry, but the National Association of Realors puts that number at a whopping 94% of home shopping is online!

louisville-show-ipad-website-mhpronews_com-2.JPG

This is an example of one of many modern website styles that causes visitors to
dig deeper into your product or service.

That's doesn't mean you must dump all forms of print or other media. What it does mean is that if you have a web presence, you better make sure it is a good one. Because studies show that millions of online shoppers will decide in less than 5-10 seconds if they will stay on your website to learn more.

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If your

then it is time to stop the slavery to the past and forge the powerful new chains of gold that will build your business' future. ##

PS: Check our many Exclusive and Red Hot Featured Articles for April and see the

other new stories at MHLivingNews.com too.

l-a--tony-kovachL. A. "Tony" Kovach

MHLivingNews.com=Re-Discovering and Spotlighting the MHLifeStyle

MHProNews.comMHMSM.com = Industry News, Tips and Views Pros can Use

Services:B2BandB2CAds, Proven MH Marketing & Sales Systems, Websites other Industry Solutions.

Office –815-270-0500

latonyk@gmail.com or tony@mhmsm.com

www.MHC-MD.com

http://www.linkedin.com/in/latonykovach= connect with me on Linkedin.

http://pinterest.com/latonyk/manufactured-home-lifestyle/

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Whether you think you can or whether you think you can't, you're right. – Henry Ford