George Allen / EducateMHC Blog Mobile Home & Land Lease Community Advocate & Expert

Blog Posting # 677. Copyright @ 18 February 2022, EducateMHC

Perspective. ‘Land lease communities, previously manufactured home communities, and earlier, ‘mobile home parks’, comprise the real estate component of manufactured housing!’

EducateMHC is the online national advocate, realty asset class historian, trend spotter, education resource & textbook supplier for land lease communities throughout North America!

To input this blog and or connect with EducateMHC, telephone (317) 881-3815, email gfa7156@aol.com and/or visit www.educatemhc.com Previous phone #s no longer connected.

Motto: ‘U Support US & WE Serve U!’ Goal: to promote HUD-Code manufactured housing and land lease communities as U.S. # 1 source of affordable attainable housing! Be MHM certified!

INTRODUCTION: Much interesting news for you this week, beginning with the identity of ten states where HUD-Code manufactured housing is the most affordable. Then there’s some teaser information about interest in forming a new national trade body to truly represent the interests of land lease community owners/operators across the board – not just the major portfolio players. And a further reminder of how we, as an industry, shipped 105,772 new homes during 2021 – and don’t let anyone tell you differently! Finally, resident-owned communities continue to materialize across the U.S. – and now, finally in California! GFA

I.

DID YOU KNOW?

The Top Ten States for Manufactured Home Affordability, based on 2021 sales data, and first published in MHVillager on 9 February are as follows:

Kansas. “New manufactured homes in Kansas sell for an average price of $51,780, the lowest average price in the entire country.” And pre-owned manufactured homes sell for $24,306+/- apiece.

Arkansas. There the new manufactured home average price is $56,812; and, pre-owned manufactured home at $50,394.

Mississippi. Down there, new and pre-owned homes, throughout the state, sell for just about the same amount: 457,361.

Oklahoma. Now here’s a dollar spread for you. New manufactured homes sell for $68,743 on the average, and pre-owned homes for $40,777.

North Dakota. Up there the average price of a new manufactured home is $60,841; pre-owned homes at $44,969 apiece.

Missouri. Here’s yet another pretty broad price spread; new manufactured homes at $61,642 and pre-owned homes at only $37,026.

Virginia. Among the original 13 states (colonies), this state boasts an average new manufactured home price of $61,719, while pre-owned homes actually cost more, at $63,436 apiece.

Pennsylvania. New manufactured homes in this state average $62,523 in average price, while pre-owned manufactured homes are sold for an average of $37,307.

Kentucky. Here’s another ‘close comparison’ between average sale prices for new and pre-owned manufactured homes. In the former instance = $63,742; in the latter instance = $61,970.

Georgia. The tenth state on this ‘affordable housing’ list, sees its’ new manufactured homes going for $64,397, while pre-owned manufactured homes sell for $41,900. Apiece.

So, now you know where to find the most affordable new and resale manufactured homes ‘for sale’ in the U.S. these days.

II.

RUMOR OR FACT?

Community Owners (7 part) Business Alliance, a.k.a. COBA7 ended its’ six year run in 2020; SECO (Southeast Community Owners), launched in 2011, and EducateMHC (circa 2020) have become valuable national resources for land lease community owners/operators; and the National Association of Manufactured Housing Community Owners (‘NAMHCO’) in AZ appears to be dormant at this time. What else is there?

This leaves MHI’s National Communities Council (‘NCC’) division as the sole trade body (lobbyist) representing political and regulatory interests of land lease community owners/operators.

But maybe not for long. Email messages have been flying, and preliminary meetings held, pursuant to the probable soon launch of a Manufactured Home Community Owners Association of America (‘MHCOAA’) body, purposed to improve the reputation of the realty asset class, directly counter negative press, and encourage professional property management among owners and property managers. And its’ activities will likely be communicated by an existing trade publication. Interested in participating? Let me know via gfa7156@aol.com and I’ll pass your contact information onto the organizers.

III.

IN CASE YOU MISSED IT!

According to the Institute for Building Safety & Technology (‘IBTS’), HUD’s official scorekeeper of the number of new HUD-Code manufactured homes shipped monthly, December’s total (8,014), when added to that from the first 11 months of the year, pushed us – for the first time in 15 years, above the 100,000 target goal. Our industry’s 2021 new MH shipment total was and is, 105,772. And don’t let anyone tell you differently. This 105,772 is the consensus total touted by HUD, MHARR, and EducateMHC.

IV.

ROC USA NOW IN CALIFORNIA!

ROC USA, on 4 February, announced the sale of The Woods, a premier 55+ senior community, located in Little River, CA., to the homeowners/site lessees (i.e. residents). This is the first ROC USA-supported resident-owned community in the state of California!

ROC USA, to date, has helped nearly 300 land lease community owners/operators sell their properties to their residents for fair market values. For more information, contact aromeo@rocusa.org

V.

FANNIE MAE & FREDDIE MAC

Yes, there’s some news afoot relative to the two GSEs, but I’ll hold off telling you about it until next week’s blog posting. Suffice it to say, they’re coming under some Senate scrutiny, and there are questions about their future in receivership.


George Allen, CPM, MHM
EducateMHC