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New York Times reports Long Island “Mobile Home Park” resales command $1 Million

August 28th, 2014 Comments off

montauk-shores-manufactured-home-community-credit-new-yorktimes-bryan-smith-posted-daily-business-news-mhpronews-com-It isn’t just Aspen, Colorado or Malibu, California that one sees 7 figure sales involving manufactured homes in ‘mobile home parks.’ The New York Times  reports to MHProNews  that living-in or getaways-to Montauk Shores manufactured home community on the East End of Long Island has been enjoyed by celebrities such as Andy Warhol and Dick Cavett.

Montauk Shores’ Mr. Alpha Doughan had a contract years ago with Liberty Homes, and sold $5,000 pre-HUD Code mobile homes back in the day on home sites that went for only $10,000. 

It was dad’s legacy,” said Merry Doughan, about the otherwise unassuming factory-built home they are asking $1.1 million for today.

152 owners at Montauk Shores pays $1,100 a year in condo association fees and roughly $1,200 in taxes, with site fees of $1,415 a month. This is a bargain in an area where nearby houses rent for that much a night.

Real estate broker Helen Stubbmann, who listed Doughan’s home says, “If you think about it, it’s still one of the best deals on the East End.” 

The old real estate mantra of “location, location, location” clearly applies to manufactured homes, and facts like these defies those who say that you can’t make a profit re-selling one. ##

(Editor’s NoteManufacturedHomeLivingNews.com plans a follow up on this location in story set for September, you can get an alert on that and other stories free by signing up at MHProNews.com/subscribe.)

(Photo credit: Bryan R. Smith/The New York Times)

Nimby Leading Loss of Affordable Housing? County buys MHC to close it

August 28th, 2014 Comments off

google-street-view-nearby-1162-jenny-scyamore-near-closing-evergreen-village-mobile-home-park-posted-daily-business-news-mhpronews-De Kalb County, Illinois purchased to close “flood prone” Evergreen Village Mobile Home Park in Sycamore, the Daily Chronicle tells MHProNews. “I don’t have much of a choice, because we’re in a flood plain and I can’t fix houses,” the property owner, Frank Santoro said. “I have to accept what they are going to give me.”

The county reportedly paid $1.47 million for the property, which happens to be near Sycamore Golf Course, a community park, Sycamore Family Sports Center and a neighborhood with multifamily rentals, as shown in the first photo.

About 120 mobile or manufactured homes (MH) were once sited on the closing property. One of those families included Robert Baird’s, who was adamant that his family stay in Sycamore, even though they have to move out of Evergreen Village. But dozens of prior residents have had to leave the area, in search of new housing options.google=streetview-entrance-evergreen-mobile-home-park-posted-daily-business-news-mhpronews-com-

Superintendent Kathy Countryman said 24 students who attended North Grove school last year moved out of the district, their families going to places like De Kalb or Rochelle.

County leaders secured $7.1 million in state and federal emergency management grants to buy the property, relocate its residents, and return it to open space by June 30. That’s an average cost per household of some $59,166.

As of Monday, the county bought 114 out of 121 mobile homes in Evergreen, according to Paul Miller, county planning, zoning and building director. “We’re focused on helping people find homes,” Miller stated, adding that, “We’re satisfied with those numbers [of closed purchases,] but it’s no time to sit back. We’re going to keep working.”

Numerous questions ought to be raised in studying a “park closure” such as Evergreen Village, including the impact on residents and was this the best use of taxpayer’s money in the light of a growing affordable housing needs nationwide in the U.S..

bulldozer-evergreen-danielle-guerra-shaw-media=credit-posted-daily-business-news=mhpronews-com-

Certainly NIMBY – ‘not in my back yard’ – is commonly cited as a factor for nearby home owners as they view affordable housing. As manufactured housing professionals know, all other forms of permanent housing are more costly than modern MH. Per the U.S. Census Bureau, the costs for conventional construction are roughly double that of manufactured homes. And as Manufactured Home Living News  readers know, modern manufactured homes feature energy savings, more durability and appeal as well as lower costs. ##

(Photo credits: Google Streetviews and Danielle Guerra, Shaw Media)

Sam Zell, ELS Chairman, featured at National Community Council’s Fall Leadership Forum

October 16th, 2013 Comments off

Sam Zell, chairman of land lease community owner Equity LifeStyle Properties, Inc. (ELS) will be the featured speaker at the Manufactured Housing Institute’s National Communities Council Fall Leadership Forum being held Oct. 16-18 at W Hotel City Center in Chicago. Titled “Building a Vision for the Future,” topics covered include Marketing & Image, the Future of the Land Lease Business Model, Learning from Small community Operators, Home Financing and Real Estate Marketing for the Future. MHProNews and MHLivingNews Publisher L. A. “Tony” Kovach will attend and publish a post meeting report. ELS is the largest owner of manufactured housing and recreational vehicle communities (MHCs) in North America with 380 properties.

(Photo credit: The Wall Street Journal–Sam Zell)