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Posts Tagged ‘bakken oilfield’

Putting the Cart Before the Horse—Er, House—in Montana

June 26th, 2017 Comments off

Cartoon Credit: Missoula News

For several years, MHProNews has been following the booming growth of the Bakken oil field in western North Dakota, as in the example that is linked here.

The boom created an influx of thousands of job seekers, and their need for prompt availability of homes was primarily met with factory-built, or workforce housing.

That surge slackened when oil prices have fell.  It left a glut of empty housing.

Not far away in Missoula, Montana, the director of nonprofit Homeword, Andrea Davis, has long seen small manufactured homes as a gateway to homeownership for low income people.

When she saw the price tag of $35,000 for each home, appliances included, she ordered ten and figured she would determine how best to use them. (Most low-income housing projects start with demand.)

It was such a good opportunity that we didn’t want to let it go,” she says, but we didn’t have a project yet.”

Those 450 to 550 square foot homes were shipped to Missoula, per the Missoula News, and Homeword just received a $270,000 federal HOME grant awarded by the city this month.

New Frontier Tiny Home, 242 square feet, Credit: New Frontier

According to the Missoula Organization of Realtors, only eight percent of the homes sold last year in Missoula were priced under $150,000. Missoulians need an annual income of $63,000 to afford a median-priced home in the city. The HOME grant will allow five of the homes sold to people earning less than half that amount.

In many cases involving factory-built housing, zoning can be a problem as can objecting neighbors. Through discussions with other nonprofits, Davis has discovered an acre plot of land adjacent to the Missoula Food Bank where six of the units can be clustered on permanent foundations.

Including purchase of the property, installation of the homes and a little sprucing up, Davis figures the homes can be sold for $100,000 or less. “There’s just an opportunity to make these cute,” Davis says.

For purposes of comparison, $270,000 divided by five equals $54,000 for each home, if the total HOME grant is used for the total cost and installation of the homes. As MHProNews reported in a recent article, linked here, the Census Bureau reports that the average price in Dec. 2016, for a new single section, 14X70′ HUD Code manufactured home is $49,900.

Presuming that typical home in the Census Bureau reporting is a 924 square foot 14×70′ – consider the comparison. Granted, it’s nearly $15,000 more than the used Bakken oilfield home then Homeward paid, but that ‘average’ single sectional is also shiny, new and considerably larger.

Missoula, are you listening? ##

(Image credits are as show above, and when provided by third parties, are shared under fair use guidelines.)

Submitted by Matthew J. Silver to Daily Business News on MHProNews.)

Groundbreaking near Minot, North Dakota for Modular Subdivision

November 4th, 2015 Comments off

north_dakota__berthodl__modular_homes__topix__creditMHProNews has learned from washingtontimes that developers in Berthold, North Dakota are preparing to break ground this fall for a new modular subdivision a mile east of Berthold. New homeowners are being sought for the 240 home site Prairie Rose Estates, which has been in the making for three years.

Built in Indiana to local and state building codes, the homes will sit on concrete foundations and have electric heat, and are located within the Minot Micropolitan Area, which is experiencing a housing crunch due to the Bakken Oilfield exploration. Single-family homes will start at $200,000.

There are currently three different models planned for the development, according to topix, although the homes are open for customization. ##

(Photo credit: topix–modular home models in Berthold, ND)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

 

Sunday Morning Recap-Manufactured Housing Industry News July 19-July 26, 2015

July 26th, 2015 Comments off

mhpronews_sunday_morningWhat’s New in public focused Manufactured HomeLivingNews.com

A Hunter and Native American Decorator’s Dream! John Howard’s Home, Inside MH Road Show Video

How A Manufactured Modular Home Production Center Achieves Savings and Quality – Inside MH Video with Mike Stone

4 Easy Ways to Keep Your Home Clean

What’s New in Manufactured Housing Industry Professional News

As the Dodd-Frank Act hits the five year mark, stories abound how its offspring, the Consumer Financial Protection Bureau, continues to confound the manufactured home industry as well as the banking and mortgage industries, and the accompanying importance of MH fiancing reform. Meanwhile, MHLivingNews and MHProNews publisher L. A. “Tony” Kovach lands on The Hill in D. C., and as a family man on 83degreesmedia. In other news, industry pressure changes minds in a Texas city, several MHCs change hands, MH lands in Native American hands, MH Firms Plan Q2 Financials Release, much, much more.

Saturday, July 25

Temporary Modular Housing being Restricted in Bakken Oilfield

Friday, July 24

The Avoidance of the Rule of Law by Dodd-Frank

Dow Falls -163 Points, Most Tracked Manufactured Housing Stocks also Drop

Modular Workforce Housing Planned for Southwest Louisiana

Help Ensure Passage of The Preserving Access to Manufactured Housing Act

UMH Properties Set to Release Q2 Financials Aug. 7

Capital One Arranges $14 Million Fannie Mae Loan

Thursday, July 23

Drew Industries to Release Second Quarter Financials

Deer Valley Corp. Jumped +10.25 percent while Most All Tracked Stocks Fell

Home Sales Rise to Best Rate in Eight Years

Capital One Arranges Purchase of CA Manufactured Home Community

Orders for Keiser’s Modular Homes will be Built at a Sister Plant

Gendell Unloads More Patrick Stock for $1.48 Million

Wednesday, July 22

Manufactured Home Community in Florida Sells for $6.4 Million

PSP Seeks Manufactured Home Communities to Provide Affordable Housing

MHCV Edges Up, NASDAQ Slips, Existing Home Sales Rose 3.2 % in June

Elko Band Native Americans Break Ground for New Manufactured Homes

Texas City Reverses Decision, Votes to Allow Manufactured Housing

War of Words? DC’s The Hill Congressional Blog on Manufactured Housing Finance Reform

Tuesday, July 21

Deer Valley Falls -11.11%, as Most Tracked Manufactured Housing Stocks Slip

Equity LifeStyle Properties Beats Analysts Expectations in Q2

Factory-Built Homes—the New Cool

Tired of renting? Get the scoop on manufactured homes

Lawsuit Challenges Removal of Manufactured Home Carports

Monday, July 20

Keiser Homes Fire did not Damage Main Structure, Electrical or New Homes

Deer Valley Gains 10.25%; Dodd-Frank Turns Five Tomorrow

Housing Starts, Permits Hit Eight-year High

Marcus & Millichap Arrange Sale of Florida Manufactured Home Community

Mark Engel to Join Green Courte Partners as CFO

Honda Agrees to Cease Discriminatory Automobile Lending

Sunday Morning Recap-Manufactured Housing Industry News-July 12-July 19, 2015 ##

(Photo credit: MHProNews.

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Modular Bedrooms for the Bakken

April 25th, 2014 Comments off

According to virtualpressoffice.com, the value of the U. S fracking fluid market grew from $18.4 billion in 2012 to $26 billion in 2013 and is expected to hit $37.3 billion in 2018. With the resurgence of domestic energy production across the nation, for the first time ever analysts say the U. S. will lead in the production of oil in 2017 and begin exporting natural gas by the 2020s. The oil coming from the Bakken Shale under western North Dakota has reached nearly 750,000 barrels a day and is expected to hit two million a day in 6 years. This gigantic population shift of workers to the oilfields has led to the production of thousands of rooms for modular workforce housing units (reported here April 23, 2014), as well as for modular classrooms, offices and homes.

Similarly, the Marcellus Shale buried below Ohio, Pennsylvania, New York, Virginia and West Virginia is the largest U. S. gas repository, exceeding 270 trillion cubic feet. The number of active wells is expected to rise from 1,500 to 5,000 in the coming years. As MHProNews.com has posted, UMH Properties has been actively acquiring manufactured housing communities in the area recently, although modular workforce housing is also shipping in. ##

(Photo credit: Andrea Johnson/minotdailynews.com–Modular classrooms at Minot State University just east of the Bakken in Minot, ND)

Manufactured, Modular Homes Filling North Dakota Project

February 12th, 2014 Comments off

Five hundred thirty acres of former farmland in Minot, North Dakota are set to become a new planned community of 2,000 residential units around a hub of commercial and retail space, including a park and trail system. Infrastructure work began last year to support the development, which includes what is now the 350 manufactured home (MH) site Wheatland Village, formerly the Federal Emergency Management Agency’s (FEMA) temporary manufactured housing for those left homeless by the 2011 flood, many units of which have been sold to occupants. One hundred sixty of the homesites remain vacant, although Lifeway Homes is selling new MH to residents.

According to minotdailynews.com, Performance Homes of Minot is building 62 modular townhomes on property adjacent to Wheatland Village, which will be priced at $169,000 to $200,000, with the first homes available early this year. MHProNews.com has extensively covered the development of workforce and residential housing in this area dominated by the influx of workers seeking employment in and around the Bakken Oilfield drilling operation.
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(Photo credit: Associated Press–modular mancamp in Williston, ND)