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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.

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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.

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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

Three Steps to More Sales Comparisons Help or Harm You in Marketing and Sales

August 1st, 2014 No comments

Let's be really basic and candid. People make comparisons. It is part of what we are and do; we compare people, products, services, entertainment, food, politics, religion. You name it, and people make comparisons on it.

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Photo Credit – WikiCommons.

We also tend to 'judge' or 'discern.' Labels are not just something on a can or jar. Politicians, actors, workers, companies, sales people, specific news or trade media, consultants, experts, products or services…so much of what we think about gets 'labeled.'

We either define ourselves or we allow others to define us. But if we let others define us, how do we re-label, re-define or re-brand? Vivid comparisons are part of the equation.

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Moore, OK and nearby area tornado damage 2013.

Tornadoes, hurricanes and high winds are subjects manufactured housing takes it on the chin for daily in the minds of those who consider housing options. 'Gee, I'd love the price-point of a manufactured home, but they are blown away by the first strong wind.'

Really? Who says? Was the right information provided so a more accurate comparison could be made?

Learning how to address the tornado-hurricane-high-winds-topic the correct way is huge. Frankly, a big element is about making the correct comparisons. See the side by side photo above.

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We showed this screen capture from Google Images on the Masthead Blog earlier this week. Every picture but the last one above came from either this MHProNews site or our new public-image-education-focused sister site, MHLivingNews.com.

Notice how we make comparisons?

The far more expensive site built house is losing its roof, while the lowest priced new manufactured home in that market is seeing a bit of skirting flapping.

The site built roof failed because the roof tore away, but on the manufactured home where the roof pulled loose it was because of an improper add on, which tore away first and that pulled the roof off the home like a giant para-sail.

FYI, NBC reported that it's add-ons which – in a post-storm study – where responsible for 80% of the home severely damaged or destroyed. The MH's would have been okay, had the add-on been done properly, or had it not been there at all.

No one wants to be caught in a tornado or hurricane. Look again at the top two photos. If you had to be in one of those flattened houses or the manufactured home which rolled over – and neither one had a basement – which would you rather be in? The decimated site built houses, or the manufactured home that got rolled, but is structurally so durable it's mostly intact?

Enlightened Self Interest! A Voluntary "Mutual Benefit Society"

There are reasons why you should want to send your customers, your shoppers and everyone you know to ManufacturedHomeLivingNews.com. There, we are gathering and telling the good news about manufactured homes. We are debunking the myths, or outdated stereotypes. When you and your team know that site backwards and forwards, and then use it at the right time with customers, you will sell more homes. It's a no-brainer.

Three Steps to Your Organization's or Career's Advancement

1) Daily reading. Not just you, but your all of your team mates too. Don't think 'they aren't smart enough,' or 'they aren't motivated enough.' Peopleignorance-costs-knowledge-pays-cutting-edge-blog-mhmsm-com- want to take pride in their work! What they don't know, will cost you money. Period.

A minimum of 15 minutes daily here, and no less than 7 minutes a day on ManufacturedHomeLivingNews.com, will at the end of a year be proven to advance your results and profits. Invest more time, if possible!

On our public site, you should read articles and view videos a number of times, once today, again in a week, etc. Why? So that when a topic comes up, you know immediately which story or stories to go to with your prospect or customers.

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RSS feed symbol.

2) RSS and links speed your success. We love links, and you should want to give them! We already have very good search engine positioning, but YOU want us to have the BEST possible, every time. Why? You want ManufacturedHomeLivingNews.com to come up in a home shopper search. You want your customers 'pre-sold' or mostly sold. We don't sell houses, we tell stories. We let YOU sell houses!

    An RSS feed to ManufacturedHomeLivingNews.com is important to YOUR sales. We are the industry's best public image and education site. See this Masthead for examples of how an RSS feed can boost your site performance too.

    money-bag-wikicommons-cutting-edge-blog-mhmsm-com-

    Unlock the money bag.
    Comparisons and the 3 Steps suggested
    can help.

    3) Invest Your Money Wisely! One and two above are "free." This one is about where you spend or invest your dollars. When you realize that you need:

      • Marketing
      • Sales training
      • Consulting
      • Website upgrades or a new website
      • Research or copy writing
      • Videos
      • Advertising…

      When you have a need, turn to us or to one of our writers or sponsors. When we win, we can do more. When you win, we win too. Think of this as a voluntary Mutual Benefit Society.

      Let's close with a request that you share via your social networking – Facebook, Twitter, LinkedIn, etc. AND by email this link below. It puts idea #1 above in action.

      http://manufacturedhomelivingnews.com/nbc-news-today-show-manufactured-home-performs-better-than-conventional-housing-construction-in-ibhs-hurricane-wind-tests/

      Then go to Reddit, sign in and comment on this link!

      http://www.reddit.com/r/todayilearned/comments/2c6ey1/todays_manufactured_housing_is_not_your/

      Reddit gets millions of visits. The higher that link goes, the more people will discover the truth about MH and will decide to buy. What goes around, will come around to you.

      So please do your part to make this go viral!

      Speaking of Linkedin, my thanks to all who connect with me on LinkedIn, provide an endorsement and share good words about our work to others.

      When you support our sponsors and support us, we are more able to benefit you. It really is that simple. There are a lot of fine industry sites out there, but the thousand of pros who come here daily make us realize that we compare well to anything else remotely like us. Hey, that's a comparison 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 

      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!

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      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