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Posts Tagged ‘odessa’

NAHB: Housing Numbers Showing Modest Rise

April 8th, 2014 Comments off

Statistics from the National Association of Home Builders (NAHB) indicate modest improvement this month over March, and anticipates a traditional, solid, spring home-buying season. Based on employment, permits and price data, the NAHB/First American Leading Markets Index (LMI) reports 28 percent of metro areas experienced a rise in their score this month, and 83 percent saw a rise within the last year. Baton Rouge, LA tops the list of large metro LMI areas, MHProNews.com has learned, followed by Honolulu, Oklahoma City, Austin and Houston, Texas, San Jose, CA. and Harrisburg, PA. Smaller metro areas with strong LMIs are centered around energy exploration sites such as Odessa and Midland, Texas, and western North Dakota. ##

(Image credit: etftrends.com)

Texas Investor Continues his Manufactured Housing Roots

July 15th, 2013 Comments off

Real estate bargain-hunter mogul John Bushman of Odessa, Tex. started a used car business in Midland, in 1968 with $1,500. A year later opened he A-1 Homes, selling factory-built homes that grew to 23 locations and later included a factory making manufactured homes. The automobile business also did well, and he expanded his operations to include insurance for manufactured homes as well as a savings and loan association. The thrift failed in 1988 despite his attempts to bolster it with assets from his other holdings, leaving him with only his profit-sharing plan. He rebuilt his manufactured-home operation in 1989, eventually expanding it to 30 company-owned locations, 30 franchises and five manufactured home production plants. As gazette.com informs MHProNews, Bushman sold the company to Champion Homes but later bought eight locations back for much less than what Champion had paid for them. His 150 properties include seven hotels, four shopping centers, a TV station and six radio stations, and six office buildings, all in Odessa. He also has interests in manufactured housing industries including seven sales sites as well as oil and natural gas holdings. “Pretty much everything we owned but the manufactured housing business and the radio stations had been lender-owned or in receivership,” he said.

(Photo credit: Christian Murdock/thegazette–John Bushman)

Oak Creek Opens New Home Center

May 6th, 2013 Comments off

PRWeb reports Oak Creek Homes announces the opening of its new home center, its 17th in Texas, in Midland, TX to sell manufactured and modular homes and commercial buildings. General Manager Craig Johnston says the shortage of affordable housing and the rise in apartment rentals spurred the company to open in Midland. The company’s Chief Marketing Officer, Ronnie Richards, says, “Oak Creek has built over 50,000 homes and has continuously provided homes in the Midland – Odessa market since 1983.” Midland is close to the oilfield development in west Texas that has workforce housing needs. MHProNews posted a story March 28 about Oak Creek’s development of a mobile app that allows a shopper to search homes while driving around. Oak Creek is a subsidiary of American Homestar Corp., a vertically integrated factory-built housing company, primarily employee-owned, with operations in construction, financing, insurance, and retailing. The company is in its 42nd year.

(Image credit: Oak Creek Homes)

MHC Planned in Housing Tight Texas

June 26th, 2012 Comments off

MyWestTexas reports within a few days of announcing an upscale 185-site MHC to be built in Midland, Texas, the developers received 380 inquiries from interested individuals. Project partners LubbockInvest and Great House Solutions of Odessa, TX, expect to keep the rates between $1200-1500 a month, which will include the site rental, including payments on the three and four-bedroom homes that will be brought in. Due to the lack of available housing, Blake Templeton of LubockInvest says some of the calls were from oilfield workers staying in motels wanting to move their families to town. MHProNews has learned the population of Midland is just under 110,000, having experienced a growth rate of 13.01 percent since 2000. As of last week there were 290 homes listed for sale in this west central city, with a median home price of $125,700. The project is expected to be completed by Feb. 2013.

(Photo credit: Pine Grove Mfg. Homes)