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Posts Tagged ‘HUD Code home’

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.)

Encore Wire Shares Lighting Up

October 12th, 2015 Comments off

encore_wire_corporationShares of Encore Wire Corp. (NASDAQ:WIRE), suppliers of a variety of interior electrical wire to the manufactured home industry have been on a bit of a tear: the stock has risen +11.42 percent in the last week, and +16.09 percent for the past four weeks, according to reports MHProNews has received from insidertradingreport.

Additionally, the shares have outperformed the S&P 500 by 7.9%, and by 12.98% for the last 4 weeks.

Recorded at $37.92 (Oct.11), shares of stock have a 52-week low of $29.36 and a 52-week high of $48.50, while the market cap is $788 million. The shares have fallen -$12.22 in the last three months, but remain ahead +1.85 percent year-to-date. The stock closed down today (Oct. 12) -2.05 percent at $37.18.

As MHProNews has reported here monthly since the rebound, HUD Code Home production continues growing. ##

(Image credit: Encore Wire Corp.)

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

HUD Code Production Continues to Climb

March 4th, 2015 Comments off

new manuf home  wiscnews.com  creditThe Manufactured Housing Association for Regulatory Reform (MHARR) informs MHProNews that HUD Code homes producers manufactured 4,969 homes in January 2015, a 12.8 percent increase over the 4,405 homes produced in January 2014. Statistics compiled by the Department of Housing and Urban Development (HUD) reveals this marks the sixth year of consecutive monthly growth for the MH industry. Texas continues to lead the nation in cumulative shipments since Aug. 2011 with nearly three times the numbers of its nearest rival, Louisiana, followed by Florida, North Carolina, Alabama, Mississippi, Kentucky, California, Tennessee and Oklahoma. #

 

 (Photo credit: wisconsinnews-new manufactured home)

 

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

Inside the CFPB and the HUD Code Manufactured Housing Program

August 18th, 2014 Comments off

hud-label-cfbp-logo-posted-daily-business-news-mhpronews-comCertainly reports from MHI or MHARR carried here on MHProNews bring you news and information about the CFPB as well as HUD’s manufactured housing program. But nothing is quite like the insights from someone who has recently worked in both offices. That is the true “inside perspective” brought found in our exclusive interview,A Second Cup of Coffee with…Bill Matchneer.

Matchneer – who has been doing consulting work for MHI – has also responded to a recent MHARR press release sent from Danny Ghorbani’s email address; see Bill’s reply here. ##

(Images: HUD Code home label for MH and CFPB logo)

 

Statute Eases Removal of Abandoned Manufactured Homes

August 8th, 2014 Comments off

manufactured homes  abandoned   kaitlyn walsh  northfieldnews creditThe Village of Shiloh (southwestern Illinois) Board of Trustees has approved an agreement to authorize Village Administrator John Marquart to carry out the statutory requirements of the Abandoned Mobile Home Act, and assist the Valley View Estates manufactured home community in disposing of abandoned pre HUD Code homes, according to bnd.com. Because of possible legal ramifications, neither the village nor the community owner can send the abandoned MH to the shredder. Upholding the state statute, Valley View would then execute the Hold Harmless and Indemnity form, which protects the village from liability; and then a form is submitted to the Secretary of State with an application for a salvage title so the unit can be transported to the shredder. Donald Wiehl, attorney for Valley View, says, “In order to keep the manufactured and mobile home park in viable condition and being an attractive place to live, we want to have that mechanism…the next time we have somebody who wants to walk away from their manufactured home we can say, ‘if you do that we’re gonna sue you, and get the title to possession and we’re gonna haul your home away and take it to the shredder.’” As MHProNews understands, this represents a better alternative to demolishing manufactured homes on site and hauling away the parts. ##

(Photo credit: Kaitlyn Walsh/northfieldnews.com–abandoned manufactured homes)

Zoning vote could ease locating single sectional manufactured homes

August 15th, 2011 Comments off

Animated-Flag-South_Carolina wikimedia commonsTandD reports the Orangeburg County Planning Commission gave unanimous approval to a new zoning classification proposal allowing single-section HUD Code home placement in areas which already have a mixture of site-built, single-sectional and multi-sectional manufactured homes. Commissioners voted to approve the proposal for creating the RS-2, Single-Family/Manufactured Home District and for its presentation at a public hearing scheduled to take place at the commission’s Sept. 14 meeting. Orangeburg County Council will have to approve the new classification before it becomes law. Deputy Administrator of the Community Development Division Harold Young said people requesting to locate them in such mixed use areas. “Because of the downturn in the economy … mobile homes are becoming more prevalent,” Young said. “We still want to be smart about the placement of mobile homes. We don’t want pre-1976s. This works better and is more in reality of what we have on the ground.” The new zoning classification would not change the currently zoned residential single-family district, which only allows site-built homes or the residential general district, which does not allow the placement of single-sectional manufactured homes.

(Graphic credit: Wikimedia Commons)