On November 2, the FHA released a mortgage letter (ML) updating the sales comparison approach for manufactured homes. The update to the FHA’s rule affects how real estate appraisers will now appraise manufactured homes using the sales comparison approach (SCA) grid. The SCA is the mix of attributes in a home that determine its value...
Creating and preserving quality affordable housing is notoriously difficult, with the number of available units declining each year as landlords raise rents ever higher. An underappreciated tool for closing this gap–potentially benefiting millions of U.S. households–involves resident-owned manufactured housing communities. Roughly 22 million Americans live in manufactured homes misleadingly called “mobile homes” – misleading because...
Some Americans who have been priced out of the tight residential real estate market are turning to manufactured homes, helping to power a nascent recovery in sales of far less expensive home-buying options. Shipments of manufactured homes were up for five months in a row through August, the most recent month for which data is...
Numerous cities in the U.S. have an abundance of city-owned land that is ideal for home construction. However, site built home construction is expensive. Recently we reported about the inexpensive owned properties that are available in the city of Louisville, Kentucky that would be available for affordable new quality manufactured home placements. The following are...
Well, it has been a rough time around the ManufacturedHomes.com office these days. I am deeply saddened that my friend and colleague – Bryan Czajkowski – has passed away. Bryan “Chico” Czajkowski 11/12/1980 – 2/13/2024 Known by almost everyone simply as “Chico,” Bryan was larger than life. If you ever met Chico, he treated...
Brookfield Fund Sells $325 Million of Manufactured Home Sites (Source: Bloomberg) – A Brookfield Asset Management LTD. property fund sold a large chunk of a manufactured housing portifolio as the company seeks to capitalize on growing demand for the sector. The $325 million deal consists of 19 manufactured housing communities across seven U.S. states, totaling...
Source: MHI Housing Alert – Earlier today (October 26, 2023) the House of Representatives passed an amendment offered by Represenative Ralph Norman (SC-5) to prohibit Department of Energy (DOE) funds to be used to implement the DOE’s rule for energy standards for manufactured housing. The amendment was offered during House consideration of the funding bill...
A solution to rural New York’s housing problems could lie in manufactured homes. A 2023 report found manufactured homes only comprise around 2.5% of New York’s housing stock. In rural counties, it jumps to more than 10%, both numbers are considerably less than found in most U.S. states. Local and state New York housing groups...
Updated requirements for valuation of manufactured homes contribute to FHA’s efforts to increase the availability and affordability of manufactured housing as part of the Biden-Harris Housing Supply Action Plan. WASHINGTON – The Federal Housing Administration (FHA) on November 2, 2023 announced the publication of updated appraisal requirements for the valuation of manufactured homes certified under...
Living in a mobile home or trailer probably doesn’t always have a positive connotation among the wealthiest class. But, that perception apparently didn’t stop “Shark Tank” businesswoman and real estate entrepreneur Barbara Corcoran from buying a double-wide trailer in Los Angeles. She recently showed off her mobile home to TikTok star Caleb Simpson in a...
