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Posts Tagged ‘tuscon arizona’

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)

Cargo House Continues Creating Consternation

August 28th, 2012 Comments off

As follow-up to a story we published July 5, 2012 about four shipping containers converted into an energy efficient modular home with Energy Star appliances and other green technology features, neighborhood residents continue to be upset about the modern-look building fitting in with 1950’s style homes that dot the area in Tuscon, Arizona. At a meeting Monday, Aug. 27 arranged by Tuscon Councilwoman Karen Uhlich with residents, builders, and city and state officials, KVOA-TV reports neighbor Bonnie Poulos says “there was no discussion on the part of the architects or the city to introduce the neighbors to this new project or to find out what their concerns might be once it was installed.” Ms. Uhlich says, “This project is clearly in compliance with state and city laws as they stand right now,” although she does admit there are concerns about the aesthetic and possible toxic materials embedded in the shipping containers going forward. As MHProNews reported in the earlier story, the modular home meets all local and state manufactured housing regulations as well as the International Residential Code (IRC).

(Photo credit: Ron Medvescek/Arizona Daily Star)

Cargo House Creating Consternation

July 5th, 2012 Comments off

Azstarnet reports four steel cargo containers turned into a two-story two-bedroom house is turning heads in Tuscon, Arizona, but also raising some voices. Modified in a factory to conform to state and local regulations, it falls under the jurisdiction of the Arizona Office of Manufactured Housing and meets the standards of the International Residential Code (IRC). Some neighbors in the 1950’s-era community have protested, including one who likened it to a “a bulletproof meth house.” Depending upon fixtures and custom features, homes like this sell between $70,000 and $100,000, substantially less than $220,000 to $365,000 for a comparable stick-built home. This 1,280 square foot modular home has Energy Star appliances, low-flow water fixtures, bamboo flooring, and double-paned windows for energy efficiency. MHProNews.com has learned partners Jason Anderson and Ashton Wolfswinkel had modified shipping containers previously for housing Haitian orphans. A community forum is being set to discuss this project and potential future ones.
(Photo credit: Ron Medvescek/Arizona Daily Star)

Modulars Arrive for Habitat for Humanity

January 17th, 2012 Comments off

GreenValleyNews tells MHProNews 15 new modular homes courtesy of Habitat for Humanity have begun arriving in the greater Tuscon, Arizona, area, many still looking for owners. Applicants must be first-time buyers, and are chosen based on ability to pay, need, and willingness to invest 200 hours of sweat equity in their new home. The buyers must have a small deposit to put down on the three bedroom homes, and they receive an interest free 15-25 year loan. Their payments return to a revolving fund to build more homes. Habitat’s board of directors and staff supervise the Homeowner Selection Committee, comprised of community volunteers, one of whom lives with his two sons in a Habitat home. The homes are 50 percent completed by students at Sahuarita High School, just south of Tuscon, and then trucked to the site for installation. Buyers must complete home ownership and budget planning courses as part of the program.

(Photo credit: Ann Jones/Habitat for Humanity)