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GSE Asked: Will Manufactured Housing Overtake Conventional Homebuilding?

May 26th, 2018 Comments off

GSEAskFreddieMacWillManufacturedHousingOvertakeConventionalHomebuilding

HISTORICALLY PLAGUED BY THE image of a tin box on wheels, manufactured housing finally is winning some of the mainstream acceptability that this housing segment has long sought. Today, manufactured housing—also mistakenly known as mobile homes, a colloquial but technically inaccurate name sometimes used to describe the housing product broader homeowning audience.”

–        Donald S. Bradley,

senior economist in Freddie Mac’s housing economics department.

 

It was a dramatically different time, and to be blunt, short term thinking back then in manufactured housing doubtlessly cost the industry tens of billions annually in new factory-built home sales.

The year was 1998, and the bust from the easy-credit go-go days of liar loans and questionable documentation was getting ready to bust. So, the researchers of that era did not yet know what we know today.

ManufacturedHousingIndustry1997FutureManufacturedHOusingHarvardUniversityJointCenterHousingStudies1997The chart below that reflects the nose dive in shipments from 1998 to 2009 are the only reminder that prudent, honest, long-term strategists need to realize that credit must be sustainable, or that promising future can vaporize like rainwater in the desert once the clouds pass.

MobileHomeShipmentsManufacturedHomeShipmentChartMHIAShipmentsMHIndustryChampionSkylineHUDCodeDailyBusinessNewsMHProNews

That said, the praise from third-party researchers then was plentiful. And Fannie Mae seriously asked the following question in a research document:

Will Manufactured Housing Become Housing of First Choice?

Before you think that the report and headline were a one-off, recall that Eric Belsky made the statements in the graphic shown below. He did so a few years later, knowing about the repossessions, foreclosures and the constricting of lending that were occurring by that time.

–        Harvard,

–        a GSE,

–        the Ford Foundation,

–        and others were seeing the future of American Housing as coming out of a HUD Code manufactured home factory.

EricBelksyManufacturedHousingIndustryManufacuredHomeManufacturedHousingInstituteResearchDataAffordbleHousingMHProNewsDailyBuisnessNews575

The Urban Institute, a HUD PD&R, and other reports reflect that manufactured homes (MH) can appreciate side-by-side with conventional housing. The law of supply and demand applies to MH and conventional housing too. When the GSEs, FHA, VA, USDA, and others realize that fixing appraisals through education, and leveling the playing field in lending will boost the value of the majority of manufactured homes, that in turn will fuel the financing for the millions of new manufactured homes needed in America today.

The proverbial table could be set for that type of future again, where manufactured and factory-built housing might be poised to overtake convention building, because the demand for housing is so great.

LawrenceYunNARShort8.3MillionHousingUnitsRisingRentsHousingPricesCuredOnlyByMoreBuilding

And the gap between what site builders can do and what is needed is so wide that among the tech giants are those who believe that only factory building will accomplish the closing of the gap.

This article will only reference briefly as related reports at the end what the Urban Institute failed to note in an otherwise largely useful report that published on manufactured housing in January 2018.

But some of the takeaways found in these reports from the late 90s and early 2000s are still valid today. and ought to be required reading for industry professionals, investors, public officials, policy and housing advocates.  The research we need today is research that’s already been done, time and again.

The excuses – pardon the bluntness – that the GSEs give today find their answer in some of their own research documents from the past, along side that of other third parties that praise the manufactured housing industry’s product.

What about today?

In fact, a recent report by the Manufactured Housing Association for Regulatory Reform (MHARR) makes it clear the quality of manufactured housing is – as HUD Secretary Ben Carson said, “Amazing!” is proven by federal data that proves that only a tiny fraction of a single percent of the homes produced ever go to dispute resolution.  Keep in mind that the feds under Pam Danner’s watch at HUD started essentially advertising for complaints, because there were so few of them.

MostMenAppearnNeverConsideredWhatHouseIsNeedlesslyPoorAllTheirLivesHenryDavidThoreauManufacturedHomeLivingNews

For newcomers to the website not familiar with modern manufactured homes, learn more by clicking the image above or the link here.

The extended quotes that follow are from a Ford Foundation report.  The entire document will be linked as a download at the end.

The opening quotes above are from a Freddie Mac report, which will also be linked at the end as a download.

The closing thought for this is simple.  For at least 2 decades, the manufactured housing industry has allowed itself to be defined by others.  The industry has built a fine product for decades. The foundation for having the industry defining itself has been set.

The industry has the laws that it needs, now what is needed is to see those laws be fully enforced.

Two Great Laws Already on the Books NOW,  Can Unlock Billion$ Annually for Manufactured Housing Industry Businesse$, Investor$

Back then, or more recently, there are media and researchers who discover that the solution to the affordable housing crisis is hiding in plain sight.

Bloomberg, HousingWire, Realtor and Fox all suggest Manufactured Homes as Important Solution for Affordable Housing in America

It is up to the individual businesses, or through a collective effort, to redefine in the public mind the myths vs. the realities. Please don’t take this as hubris, but we helped set the foundation for getting to the heart of what bothers consumers, media, researchers, and others when we launched – thanks to the support of others – MHLivingNews.com.

Surprised by the Truth, While Shopping for a New Home

MobileHomeShipmentsManufacturedHomeShipmentChartMHIAShipmentsMHIndustryChampionSkylineHUDCodeDailyBusinessNewsMHProNews

When conventional housing starts dwarf manufactured housing, the industry must scratch its head, and candidly ask why? When existing home resales can’t – per the NAR’s Lawrence Yun – ever close the needs gap, manufactured housing pros and investors with guts and vision must step up and say, “We can do this.”

What is self-evident from the new home shipment levels is that the industry’s ‘leadership’ failed terribly at protecting, educating and promoting the true value of our product.

IfPrettyPicturesVideosAloneWereEnoughMHIndustryWillOnlyAchieveItsGoalsByResovingItsCoreIssuesLATonyKovachMHProNews1

We must educate ourselves, and then we must educate others. James McGee and Chet Murphree said it, ‘its all about education.’ more about the above, linked here. John Bostick said it, “Easy doesn’t pay well.”  But with discipline and grit, the difficult becomes easy, and that proven system pays very well.

  • Evidenced-based education must be first to each other as professionals.
  • Then, education must then go out to our home owners and the rest of the general public.
  • We must not fear the truth.  Our product doesn’t have to be perfect, it just has to be a prudent option.  Site built housing is demonstrably not perfect, ours doesn’t have to be either.
  • There has to be some bold and courageous enough to stand up in their own respective field and do what a group of communities are doing, forge a new association that will address the needs that decades of history reveal hasn’t been solved by current leadership.

The proof of our quality and the reality of what holds us back are what MHProNews and MHLivingNews, with the support of others, has been documenting for years.  Those focus group videos are evidence of what happy manufactured home owners look like.

Affordable Housing Focus Group – Comparing Housing Options – Conventional Houses, Condo, Rentals, and Manufactured Homes – Up for Growth, National Association of Realtor, Studies

The solution for the affordable housing crisis has been hiding in plain sight.

Since we’ve said those words, others in media have picked it up, time and again.  That too is part of the proof of what is needed. Honest engagement with the media, researchers, advocates, home-shoppers, and public officials.

“The Solution to the Affordable Housing Crisis is Hiding in Plain Sight”

These reports from third parties from the glory days not so long past point the way foreword, for those willing to make common sense changes that bring new, more profitable and sustainable results.

TheFirstStepInSolvingAProblemIsToRecognizethatItDoesExistZigZiglarDailyBusinessNewsMHProNews

That said, let’s dive into the powerful opening to the Ford Foundation, in the extended quotes below.

ManufacturedHousingCommunityAssetBuildingStrategyFordFoundationDailyBusinessNewsMHProNews

 

ABSTRACT OF FINDINGS

“An increasing share of lower-income families, the same population targeted by community-development organizations, are opting to live in housing that was built off-site in a factory to meet the performance standards of the national HUD manufactured-housing code. However, most community-development practitioners are just beginning to come to terms with the implications of manufactured housing for their work.

ManufacturingTransportReportToFordFoundationManufacturedHousingIndustryDailyBusinessNewsMHProNewsThis paper explores advantages and disadvantages of manufactured housing for those entities whose mission is community development and asset building. Several challenges are presented for practitioners: First, working to educate consumers while also creating financing processes that ensure manufacturedhome buyers obtain credit on the best terms for which they can qualify. Second, using the increased scrutiny under the Manufactured Housing Improvement Act of 2000 to advocate for states to enforce more rigorous installation standards and increased accountability. Third, working to overcome land-use controls which prevent manufactured homes from being placed in communities in need of affordable housing, as well as areas with more potential for appreciation. Fourth, working with designers and planners to develop innovative designs and housing developments, while maintaining manufactured housing’s affordability advantages. Finally, equal effort must be devoted to address the difficult conditions of many lower-income people—owners and renters alike—living in older, and often deteriorating, mobile homes. While a few of these families and individuals could be relocated to new and better quality homes with the help of subsidies, resource limitations suggest the need to create cost-effective methods to eliminate health and safety problems by upgrading or rehabilitating this extremely affordable element of the nation’s housing inventory.

As a companion to this paper, an exhaustive literature review has been compiled.

INTRODUCTION

There are over eight million manufactured, HUDcode homes in the United States today, representing two-thirds of affordable units added to the stock in recent years and a growing portion of all new housing. In fact, buyers of manufactured homes contributed to a substantial share of the growth in low-income home ownership evidenced in the 1990s. These statistics send a message to all who seek to promote home ownership for low-income families, as well as promote safe, affordable housing opportunities in disenfranchised communities. An increasing share of the people whom community-development organizations serve are opting to live in housing that was built offsite in a factory to meet the performance standards of the national HUD manufactured-housing code. Many community-development practitioners are just beginning to come to terms with the implications of this for their work.

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This report and the “Developing Community Assets with Manufactured Housing: Barriers and Opportunities” symposium held in Atlanta in February 2002 by the Neighborhood Reinvestment Corporation are part of an effort to better understand the implications and opportunities of manufactured housing for the community-development field. The goal of this project is to increase education and awareness about manufactured housing among practitioners. Similar to other markets, community-based organizations have the potential to help ensure that consumers make informed choices regarding manufactured housing, and to use programmatic and policy tools to make a positive impact on communities.

To supplement the quantitative findings of research conducted by staff of the Joint Center for Housing Studies of Harvard University, anecdotal information was collected from the national NeighborWorks® network of nonprofit community-development organizations, and model program profiles were developed to provide a more complete picture of the opportunities and challenges of manufactured housing. In addition, focus groups with community-development practitioners, lenders, manufactured-housing retailers, homebuyer-education specialists and actual clients and consumers were convened to assess perceptions, knowledge and experience with manufactured housing. Guiding this research were questions related to the community-development field, namely, what—if anything—should community-development entities be doing about manufactured housing? How can this field begin to discern what improvements in public policy are needed and what programs might be successful?

This report provides a unique overview of manufactured housing, including a thorough analysis of historic trends, household demographics and the characteristics of manufactured stock, as well case studies that highlight innovative programs and developments. As a companion to this report, an exhaustive review of existing literature has also been summarized (beginning on page 49).

  1. MANUFACTURED HOUSING CONTINUES TO EVOLVE

What is Manufactured Housing?

Manufactured housing began as an offshoot of the recreational-vehicle industry in the 1930s, providing shelter for households with mobile lifestyles as well as temporary housing needs. Following World War II, housing shortages induced many households to turn to mobile homes for permanent shelter. Recognizing an opportunity, during the 1950s the industry began designing and constructing units intended to be permanent shelters. This development engendered some quality improvements, but industrywide standards remained uneven.

Within a few decades, concerns over the quality, durability, health and safety of manufactured homes led to federal action. In 1974 Congress passed the Federal Manufactured Housing Construction and Safety Standards Act, which led to the creation of a national manufactured-housing code (the “HUD code”). Unlike site-built homes, modular housing and other types of factory-produced homes, which are built to a variety of state and local building codes, HUD-code manufactured homes are built to a single, national quality and safety standard. This standard is generally based on the performance of the design and materials, rather than prescribing a specific material type or dimension must be used. Therefore, HUD-code units may use engineered lumber or alternative materials not commonly permitted under local building codes.

Homes built to the HUD code are still built on a permanent chassis like mobile homes built prior to 1976, but HUD-code units are of a higher quality, safer, and more durable than earlier models. Importantly, the HUD code pre-empts state and local building regulations, allowing manufacturers to use standardized building materials and components and avoiding the delays associated with local building inspection procedures.

Because of these streamlined codes, reduced delays and other efficiencies, one of manufactured housing’s most distinctive features is its affordability. These cost advantages do not stem from inherently inferior quality standards in the HUD code as compared to site-built homes. Detailed studies by the University of Michigan and others suggest that quality differences of the local site-built codes compared to the HUD code is minimal (Warner and Johnson 1993, Gordon and Rose 1998). In fact, manufactured housing’s affordability stems largely from cost savings from production processes.

Five factors primarily drive these efficiencies:

  1. economies of scale in high-volume materials purchase,
  2. ability to better coordinate production using assembly-line techniques,
  3. a controlled environment devoid of weather or other delays,
  4. standardized design and materials, and
  5. reduced costs (primarily time) of securing approval from local code officials.

Overall these advantages can generate significant cost savings, as indicated by a recent HUD study showing that building a 2,000-square-foot manufactured unit costs just 61 percent as much as a comparable sitebuilt home (HUD 1998)…”

— end of extended quotes —

UnbelievableHowMuchYouDontKnowAboutGameYouvePlayingAllYourLifeMickeyMantleBaseballManufacturedHousingMHProNews

Freddie Mac Report on Manufactured Housing Poised to Overtake Conventional Housing, download linked here.

Report to the Ford Foundation, download linked here.

DontGetCookedInASquatZigZiglarManufacturedHousingIndustryCommentaryDont-LetOthersSelfLimitYouByActionInactionThinkingMHPro

Let’s not let self-limiting thinking rob us, and the nation, of what could be a much brighter, richer future for all. The report linked below demonstrates how our industry could help grow the economy by some two trillion dollars annually.

YIMBY vs. NIMBY, Obama Admin Concept Could Unlock $1.95 Trillion Annually, HUD & MH Impact

Make no mistake.  The headline question is why Warren Buffett and other billionaires and multi-billion dollar operations are in this industry.

We Provide, You Decide.” © ## (News, analysis, and commentary.)

(Third party images, content are provided under fair use guidelines.)

Related Reports:

Smoking Gun 3 – Warren Buffett, Kevin Clayton, Clayton Homes, 21st Mortgage Corp Tim Williams – Manufactured Home Lending, Sales Grab?

HUD’s New Man, Officials Statements, with Insider Info Beyond the Media Releases

Greener, Stylish Manufactured Homes – Hidden Facts in the Washington Post Manufactured Housing Narrative

MHI Lender Shakes Up DTS and MLO Rule Discussions

Progressive “Nation” Reports on Monopolies Cites Buffett, Clayton, Others – MH Industry Impact?

‘Tip of Iceberg’ – Rick Rand; Marty Lavin, Communities have ‘No Confidence’ in Manufactured Housing Institute, New National Trade Group Announced

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L. A. “Tony” Kovach, photo by Mark Simon, shows Kovach engaging with SAAs in NY.

By L. A. Tony’ Kovach, publisher of MHProNews.com.
Tony is the award-winning managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

An Examination of Manufactured Housing as a Community- and Asset-Building Strategy, Harvard JCHS, NeighborWorks, Ford Foundation

March 6th, 2018 Comments off

HarvardJointCenterHousingStudiesNeighborWorksFordFoundationManufacturedHousingIndustryDailyBusinessNewsMHProNews550x400

It’s a landmark document that is perhaps more relevant now than when it was first published.

 

It’s the report to the Ford Foundation by Neighborhood Reinvestment Corporation, done in collaboration with the Joint Center for Housing Studies (JCHS) of Harvard University.

 

The Daily Business News has cited Harvard’s JCHS numerous times before, and in the light of the recently submitted comments to the Department of Housing and Urban Development, and numerous other ongoing industry-related controversies, another look at this report is as timely as ever. The document was produced by:

  • William Apgar, Joint Center for Housing Studies
  • Allegra Calder, Joint Center for Housing Studies
  • Michael Collins, Neighborhood Reinvestment Corporation
  • Mark Duda, Joint Center for Housing Studies

Here are the top-lines, with a few selected graphics and the complete report at the end, provided as a download.

 

TrailerHouseMobileHomeManufacturedHomeFactoryBuiltHousingEvolution101MHProNews-MHLivingNews

DefinitionsManufacturedHomesMobileHomeModularHomePanelizedHomeTrailerHomeHarvardJCHSNeighborWorksFordFoundationReportDailyBusinessNewsMHProNews

ABSTRACT OF FINDINGS

An increasing share of lower-income families, the same population targeted by community-development organizations, are opting to live in housing that was built off-site in a factory to meet the performance standards of the national HUD manufactured-housing code.

However, most community-development practitioners are just beginning to come to terms with the implications of manufactured housing for their work. This paper explores advantages and disadvantages of manufactured housing for those entities whose mission is community development and asset building.

OwnershipAppreciationManufacturedHomesConventionalsiteBuiltHousingHarvardJCHSNeighborWorksFordFoundationDailyBusinessNewsMHProNews

Note, this research and data were done in 2002. Several studies since have come to similar conclusions, for example, the HUD Commissioned PD&R in 2008 that examined manufactured homes that appreciated side-by-side with conventional housing, and research by Trulia in 2016.

Several challenges are presented for practitioners: First, working to educate consumers while also creating financing processes that ensure manufactured home buyers obtain credit on the best terms for which they can qualify.

Second, using the increased scrutiny under the Manufactured Housing Improvement Act of 2000 to advocate for states to enforce more rigorous installation standards and increased accountability.

Third, working to overcome land-use controls which prevent manufactured homes from being placed in communities in need of affordable housing, as well as areas with more potential for appreciation. Fourth, working with designers and planners to develop innovative designs and housing developments, while maintaining manufactured housing’s affordability advantages.

SharemanufacuredHomesOnOwnedLandManufacturedHomeIndustryHarvardJCHSNeighborworksDailyBUsinessnewsMHProNews

Finally, equal effort must be devoted to address the difficult conditions of many lower-income people—owners and renters alike—living in older, and often deteriorating, mobile homes. While a few of these families and individuals could be relocated to new and better quality homes with the help of subsidies, resource limitations suggest the need to create cost-effective methods to eliminate health and safety problems by upgrading or rehabilitating this extremely affordable element of the nation’s housing inventory.

As a companion to this paper, an exhaustive literature review has been compiled.”

RevDonaldTyeJrManufacturedHousingAdvocateQuickestWayWealthIndustryVoicesMHProNews500

Note, this graphic will be updated with the link to Rev, Tye’s comments, later today.

The Tye Family, a Living Case Study

The Rev. Donald Tye dives into the question, since manufactured housing could solving the need for millions of Americans of all backgrounds today for quality, affordable housing that can grow in value, why isn’t it being more utilized?

TruliaLowIncomeHousingImpactOnNearbyHousingValuesDailyBusinessNewsMHProNews600

The Trulia study reflects a similar finding of a report commissioned by HUD that studied the impact of manufactured homes installed side-by-side as infill in a variety of urban markets. Both conventional and manufactured homes appreciated, there was no harmful impact. That report is available as a download from the MHLivingNews article, linked above.

Tye’s take is found in an Industry Voices guest column, is linked from the graphic with his quote and photo, above.

The NeighoborWorks/Harvard JCHS report to the Ford Foundation, is linked here.   ## (News, analysis, and commentary.)

Related: 

A previously cited quote and a related report from Harvard’s Eric Belsky is found via the linked quote/photo, below.  Following that is a new finance focused report.  For the opportunity for appreciation in manufactured housing, or conventional housing, to exist there are several factors are needed.  Among them is a reliable supply of credit.  So the quotes from Belsky, and the others linked articles below are important, related topics.

EricBelksyManufacturedHousingIndustryManufacuredHomeManufacturedHousingInstituteResearchDataAffordbleHousingMHProNewsDailyBuisnessNews575

http://www.mhpronews.com/blogs/daily-business-news/appealing-manufactured-housing-institute-mhi-marketing-finance-booklet-reviewed/

Plot Twist – Duty to Serve – Freddie Mac CEO Layton Called to Accountability w/Congressional, Administration Leaders Over New Manufactured Home Lending Revelations

Appealing Manufactured Housing Institute (MHI) Marketing, Finance Booklet Reviewed

Housing, Jobs, Poverty, Opportunity – Kerner Commission Remix, HUD and Manufactured Homes

Getting More Manufactured Home Financing Options?  HUD Comments Provide Unique Door,

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Sign Up Today! Click here to sign up in 5 seconds for the manufactured home industry’s leading – and still growing – emailed headline news updates. You’ll see in the first issue or two why big, medium and ‘mom-and-pop’ professionals are reading these headline news items by the thousands. These are typically delivered twice weekly to your in box.

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SoheylaKovachManufacturedHomeLivingNewsManufacturedHousingIndustryDailyBusinessNewsMHProNews-Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.

Soheyla is a managing member of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com.

 

 

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Manufactured Housing Leads the Way for State Encouraging Innovation

December 5th, 2016 Comments off
manufacturedhousingleadsthewayforstateencouraginginnovationcreditredfin-postedtothedailybusinessnewsmhpronewsmhlivingnews

A home in Forest Ranch. Credit: Redfin.

In Oregon, Douglas County has a challenge.

The home ownership rate in the county is lower than that of the state and the country, per 2014 census data.

It also has a higher level of poverty — about 20 percent of people are living below the poverty level, compared to 17 percent in the state. The county also has a significant senior population. Nearly a quarter of Douglas County residents are 65 years or older, compared to 16 percent in the state.

According to The News-Review, manufactured housing solves that challenge and allows those who may not otherwise be able to achieve the American dream of home ownership the opportunity to do so. For low-income workers and retired seniors on a fixed income, a manufactured home promises home ownership at an affordable cost.

Also referenced is the sense of ownership that community residents feel when they purchase their home and pay a relatively modest amount for pad rent. With this, ownership becomes limited and landowners can have the final say in a number of areas.

When the state was hit with several manufactured home community closures due to the recession, laws were changed. Now when a community is up for sale, owners need to give residents the opportunity to purchase the land and run it as a cooperative (co-op).

A cooperative may provide residents the power they might have lacked before they “owned the dirt” beneath their homes. As a collective, they can vote on space rent increases, infrastructure improvements and general community rules.

While adoption has been limited, one Douglas County community has acted.

Residents of the Forrest Ranch Mobile Park in Idleyld Park purchased their community last year and converted it to a co-op. With assistance from CASA of Oregon, they have taken on over $2 million in health and safety infrastructure improvements.

manufacturedhousingleadsthewayforstateencouraginginnovationcreditthenewsreview-postedtothedailybusinessnewsmhpronewsmhlivingnews

Sharry Ison. Credit: The News-Review.

In order to save our homes and not have them be demolished, we had to do the best we could,” said resident and co-op board member Sharry Ison. The purchase of the land assured that the 110 spaces were safe from being sold to a corporation or business developer.

umpaquaranchcooperativemanufacturedhomecommunity-postedmanufacturedhousingindustrydailybusinessnewsmhpronews

Google Earth view of Umpqua Ranch Cooperative manufactured home community.

Non-profit NeighborWorks Umpqua took on a similar project this spring, purchasing Sterling Mobile Home Park.

The nonprofit organization purchased the park [sic] to save it from potential closure,” said chief executive officer Merten Bangemann-Johnson.

umpaquaranchcooperativemanufacturedhomecommunity-googlestreetview-postedmanufacturedhousingindustrydailybusinessnews-mhpronews

These manufactured homes provide their owners with the same comforts as conventional housing, only at a fraction of the cost. Google street view of Umpquara Ranch Cooperative manufactured home community.

manufacturedhousingleadsthewayforstateencouraginginnovationcreditneighborhoodworks2-postedtothedailybusinessnewsmhpronewsmhlivingnews

Merten Bangemann-Johnson. Credit: NeighborWorks.

Our goal is to rebuild the park [sic]. It’s seen a lot of deferred maintenance over a decade now. We want to provide a place where folks can live that is safe and nice and clean and functions well. And, at the same time, remains affordable.

The community has been renamed Newton Creek Manor and NeighborWorks plans to rebuild its water lines, sewer lines, roads and roadway lighting.

The nonprofit plans to fund infrastructure improvements through grant dollars while keeping rent prices at $365 a month.

This approach appears to not only be working, but also empowering community residents.

After NeighborWorks purchased the park in April, residents were invited to a pizza night dinner where improvement plans were discussed.

manufacturedhousingleadsthewayforstateencouraginginnovationcreditneighborhoodworks-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: NeighborWorks.

They were the kindest to all of us,” said resident Phyllis Davis. “I imagine most of the people living in the park [sic] had not had much respect shown to them in years and years and years.

The best part for me was when they sent letters to residents addressing them as ladies and gentlemen. When I saw that, it gave me goosebumps,” said Davis.

 

As the Daily Business News are aware, manufactured housing provides in increasingly recognized, viable solution to the dream of homeownership. ##

(Editor’s note: for a prior story on CASA of Oregon, click the link here.)

(Image credits are as shown above.)

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

NeighborWorks Achieving Excellence Program Teaches Leadership

July 29th, 2016 Comments off

Chris_Nicely_Next_Step_Network_credit postedDailyBusinessNewsMHProNewsChris Nicely, CEO of Next Step Network, a nonprofit supporter of affordable housing based in Louisville, KY, is one of 50 national leaders to have been chosen to participate in NeighborWorks Achieving Excellence Program, conducted at the Kennedy School of Government at Harvard university.

Partly funded by the JPMorgan Chase Foundation, the program hones executive skills to enhance their organization’s performance. Participants identify a specific challenge in their organization and then address that challenge with input from leaders and other attendees, as MHProNews has learned.

I am honored to have been selected to join this truly unique group of dedicated leaders,” said Nicely. “This personal challenge will not only stretch and expand my capacity, but allow me to experience a wide range of perspectives and adopt tools for increasing probabilities of goal attainment. I am very excited to be attending.”

Christina Deady, senior director of leadership and workforce development at NeighborWorks America, said, “The Achieving Excellence Program not only affects the organizations and communities but also results in a stronger pipeline of energized leaders throughout the nonprofit sector. ##

(Photo credit:Next Step Network–Chris Nicely, CEO)

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

Clayton, Next Step, NeighborWorks Collaborate on Low-income Housing

April 18th, 2016 Comments off

waco_neighborworks__wacotrib_slash_Jerry_Larson__Steve_Fulton_Clayton_one_half_duplexAs part of a joint attempt to create more affordable housing in Waco, Texas, Clayton Homes in Waco is building a modular duplex to be sited on a lot owned by non-profit NeighborWorks, according to what wacotrib informs MHProNews. Each of the two 1,100 square foot units will feature three bedrooms, two baths with appliances and will rent for $900 a month.

Roy Nash, president and CEO of NeighborWorks Waco, expressed hope this is the first of several modular duplexes Clayton will build in conjunction with his organization and Louisville, KY-based Next Step, which seeks a network of builders to help replace two million energy-inefficient homes, as well as organizations that can offer low-cost financing.

Clayton Homes’ Steve Brady says CEO Kevin Clayton has a longstanding relationship with Next Step and is supportive of the non-profit’s mission.

CEO Chris Nicely of Next Step said his organization is acting as a liaison between Clayton and Waco’s NeighborWorks. “We see this effort as one that will produce high-quality and energy-efficient housing for those who need it most,” Nicely said. Families that lease space in the duplex may later decide to own their unit.

Work crews are expected to have the duplex ready for a public showing around mid-June. There are more vacant lots near Waco’s inner city that are also suitable as sites for housing for low-to middle-income residents.

Nash said NeighborWorks and Next Step will split a Clayton rebate worth about $12,000 as partners in the project.

Stacey Epperson, president of Next Step, said, “We believe factory-built homes are the answer to America’s growing affordable housing crisis. The right-sized home at the right price allows NeighborWorks Waco and other nonprofits to serve more deserving families. We are happy to be a part of the solution.” ##

(Photo credit: wacotrib/Jerry Larson–Steve Fulton of Clayton Homes in front of one of the duplexes)

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

Appraisals of Manufactured Homes Often off Base

April 3rd, 2013 Comments off

The March 27 Webinar, Real Homes, Real Value: Improving Real Property Appraisals of Manufactured Homes sponsored by the Corporation for Enterprise Development (CFED), addressed the problems of getting accurate appraisals on manufactured homes across the country. Doug Ryan, Director of Affordable Homeownership Initiatives at the CFED, says the Innovations in Manufactured Homes (I’M Home) initiative is to make MH an appreciating asset, which requires long-term control over the land beneath one’s home, safe, high-quality mortgage products and equitable public policy. Many appraisers undervalue HUD Code homes because their modus operandi does not necessarily correspond to the reality of MH.

Peggy Hutchison, CEO of Prima Vera Foundation of Tuscon, Arizona is working in neighborhood revitalization in South Tuscon where 30 percent of the housing is distressed, siting Energy Star manufactured housing with water harvesting and stucco to blend with the neighborhood. She recounts the total cost of a new manufactured home was $110,639, but it was appraised at $43,000. Prima Vera is part of the NextStep network of non-profit factory-built housing providers across the country.

Mary Lou Affleck of NeighborWorks Montana said she spent six months to find an appraiser willing to evaluate a single-section home after being turned down nine times. A manufactured home may be the only one for 50 miles around, which make comparisons difficult at best, especially if you need two other comps from the area, as Fannie Mae requires.

Robin LeBaron, Deputy Director of Fair Mortgage Collaborative, a non-profit targeted to fair, safe lending, spoke with 20 industry players top to bottom, government and private. Noting too-low appraisals limit financing options, and serve as a disincentive in maintaining the asset, he said, “Often appraisers do not include energy efficiency because the market does not value energy efficiency, and that is in their report.” It is all based on what the market says, he adds. Sometimes a manufactured home is appraised on the basis of it being a manufactured home instead of the features it may contain.

Larry Disney, Exec. Dir. of Kentucky Real Estate Appraisers Board says years ago the board began a dialogue with state-credentialed appraisers, which includes a close association with the Kentucky Manufactured Housing Association (KMHA). As such, the board has offered numerous workshops and seminars to educate appraisers about appraising manufactured housing, emphasizing its similarity to site-built housing while noting the differences that affect the valuation. He also asks lenders if the appraisers they use have experience in manufactured housing appraisals, and encourages them to seek MH education for the appraisers they employ. The bottom line is appraisers need more education about manufactured homes in order to be truly accurate in their work. For a download of the entire webinar, click here.

(Image credit: theatlanticcities)

Program Replaces pre-HUD Code Homes with New MH

January 26th, 2012 Comments off

MHProNews.com has learned of a program in Montana to replace pre-HUD Code mobile homes with new, Energy Star-rated manufactured homes in the Great Falls area. The Sun Prairie subdivision outside Great Falls has 240 factory-built homes, many of them older models, where NeighborWorks Montana conducted an open house displaying a new manufactured home. With a $50,000 grant to administer the program, NeighborWorks buys the homes directly from the manufacturer in Idaho, provides technical assistance in removing the old home and setting the new one, and can help arrange financing. Owning a pre-HUD Code home and the land where it is sited is a prerequisite. The plan is to replace 33 aging homes in the Great Falls area. “Our goal is to improve the quality of houses and help homeowners get into homes,” said Ron Duncan of NeighborWorks. According to GreatFallsTribune, there are 22,000 mobile homes in Montana built before 1976.

(Photo credit: GreatFallsTribune/Rion Sanders)