One Story You’ll Likely Not Get To Read….
Blog # 569 @ 31 January; Copyright 2020; www.educatemhc.com
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, asset class historian, data researcher, education resource and communication media for all land lease communities in North America!
To input this blog &/or affiliate with EducateMHC, telephone Official MHIndustry HOTLINE: (877) MFD-HSNG or 633-4764. Also email email@example.com & visit www.educatemhc.com
Motto: ‘U Support US & WE served U! Goal: promote HUD-Code manufactured housing &^ land lease communities as U.S> source of affordable attainable housing! Attend an MHM class!
INTRODUCTION: Part I describes a worthy ‘read’, but you’ll have to chase down the manuscript on your own. Part II is, in large part, a repeat of material shared last week re YIMBY, LULU & BANANA. Part III invites you to exercise your writing ability and share your knowledge. Part IV. The near weekly peek at what’s contained in the text that belongs in every LLCommunity!
One Story You’ll Likely Not Get To Read….
It’s not so much a narrative, but a 30 question interview with Mark Weiss, 25 year president & CEO of MHARR in Washington, DC. conducted by a representative from online trade media.
What’s covered in this multiple page review of manufactured housing topics and issues?
• Attempts to compel full compliance with major reform aspects of MHIA@2000
• Duty to Serve (‘DTS’) provisions of Housing & Economic Recovery Act of 2008 (‘HERA’)
• Post-production debacle re: zoning issues and lack of home-only financing
• Diversion of GSE attention to ‘new class’ HUD-Code homes & realty-secured financing
• Hint of need to regulate perceived business monopoly in manufacturing & finance
• Call for an independent, national, post-production association to advocate nationally
• FHA Title I program a non-starter due to lender regs and lack of $ data sharing
If you want to obtain a copy of this Q&A document, contact Mark Weiss (202) 783-4087.
Meet NIMBY, YIMBY, LULU & BANANA
Yes, I mentioned these long-used, anti-affordable housing acronyms in last week’s blog posting (#568), but enough of you requested further explanation, I decided to run them past you again.
There is indeed a fledgling movement among affordable housing advocates these days, to change land-use policies and practices in a manner resulting in more instances (i.e. increased presence and volume) of all forms of affordable housing, workforce housing in particular. The most popular change-handle has been YIMBY or ‘Yes, In My Back Yard!’, more than a symbolic 180 degree turnaround in attitude regarding affordable housing, i.e. away from the long-lived NIMBY or ‘Not In My Back Yard!’ shibboleth!
Now, LULU and BANANA, to date, haven’t attracted that much attention, but their built-in negative messages have been pointed out, repeatedly, as being ripe for change. So, don’t be surprised, in time, to learn LULU, has morphed from ‘Locally Unwanted Land Use!’ to ‘Locally Useful Land Use!’ and, the all-encompassing BANANA slogan of ‘Build Absolutely Nothing Anywhere Near Anyone!’ has evolved into ‘Build Appealing New Apartments Near Affordable’ housing need areas!
Now those are healthy and helpful changes to local land planning and use regs we can work to implement and build-to during months and years ahead! Already, some housing industry observers are predicting “…single-family housing starts to average around 1 million annualized this year (2020).” Quoted from the HousingWire AM edition dated 24 January 2020.
In last week’s blog posting (#568) we announced beginning preparation of a new edition of the manufactured housing industry classic, How to Find, Buy, Manage & Sell a Manufactured Home Community, published by J. Wiley & Sons in 1996. However, when I meant to say “We’re NOW in the process of recruiting new contributors to this text”; it came out as NOT doing so. Let’s be clear: If you possess writing skill and hands-on experience in one or more realty-related specialties related to land lease community marketing, acquisition, management and new home sales and finance, please let me know of your interest in joining the writing team. Via (317) 346-7156 or firstname.lastname@example.org
ANSWERS to Internal Challenges Occurring Within Land Lease Communities…
Using knowledge gleaned from Community Management in the Manufactured Housing Industry
‘How to Market & Sell New Homes Within Land Lease Communities’
During the past four plus decades I’ve enjoyed and appreciated numerous opportunities to contribute to the land lease community pool of knowledge. This has included articulating the first Industry Standard Chart of Operating Accounts & Operating Expense Ratios (described in a previous blog posting), proofing the New Rule of 72 as a means of estimating capitalized income value of an average land lease community (for a future blog posting), even the widely-used ABClassification of Communities, to pinpoint property quality as being A, B, or C grade (also already posted). And yes, of course, the weirdly-named ‘Ah Ha & Uh Oh! Worksheet’ – now a standard means of calculating new and resale housing price points for homes to be sited on realty conveyed fee simple or on a rental homesite within a land lease community. All these tools are part and parcel to the text: Community Management in the Manufactured Housing Industry –available via www.educatemhc.com
A couple years ago I saw the need to educate land lease community owners/operators how to market, sell, and seller-finance new HUD-Code homes on-site in their properties. Hence, the ‘two days of plant tours and seminars’ was birthed at the RV/MH Hall of Fame in Elkhart, IN. While I’ve since relinquished control of this seminal annual event to the IMHA/RVIC (Indiana), some of the ‘basics’ remain, e.g.
Four steps to selling & Financing New Homes On-site Within Land Lease Communities =
• Getting Ready!
• Buying Homes!
• Selling Homes!
• Financing Homes!
Part and parcel to these four steps are the Six Right Ps of Marketing! An expansion of the original Four Ps of Marketing, taught at most universities, the manufactured housing industry has seen the practical value of adding two more Ps to the classic list of product, place, price & promotion. And all this can be found on page 58 of the above-referenced text
The next plant tours and seminars event will occur 4 & 5 August at the RV/MH Hall of Fame. For more information and to register, phone (317) 247-6258.