MHC News 01/18/2024
Mobile manufactured homes offer Long Islanders shot at homeownership in tough market - Newsday
Soaring mortgage rates and steep costs have made traditional home ownership on Long Island unattainable for many, especially young individuals and those in service professions. A practical alternative has emerged in the form of manufactured homes, shedding stereotypes and becoming a viable option. Darrin Miller and his wife Katora's success in financing a $120,000 manufactured home exemplifies this shift, offering an affordable solution compared to traditional houses. With median prices for traditional homes at $600,000 in Suffolk County, manufactured homes range from $55,000 to $675,000. Despite challenges like land leases and rising fees, legislative measures such as the Housing Stability and Tenant Protection Act of 2019 aim to safeguard residents. As the perception of manufactured homes evolves, they are increasingly seen as a realistic and appreciating investment, providing an entry point into homeownership for those otherwise priced out of the market.
Leading manufactured housing real estate investment & property management company announces key leadership changes - Investors Observer
Legacy Communities has announced significant changes in its leadership team, signaling a new era of growth. Andrew J. Fells has been appointed as President, ensuring continued success in the real estate & property management environment. Fells has a lifetime of experience in the industry, managing over $2.5 billion in assets across 75 communities nationwide. Brad Valka, with over 18 years of experience, will be appointed as Chief Operating Officer. Valka will report to O'Malley and will operate primarily from the Scottsdale, AZ office. These changes represent a strategic move to position Legacy Communities for sustained success, continued growth, and operational excellence as a leader within the manufactured home community industry.
Myths about manufactured homes - FMHA
When seeking a new home, the common misconceptions about manufactured homes can be dispelled through careful consideration. Contrary to the belief that they are inferior to site-built homes, manufactured homes adhere to rigorous construction standards, undergoing thorough inspections by third-party inspectors. Myth-busting continues with the safety aspect, as these homes are designed to withstand hurricane-force winds and are less prone to fires than their site-built counterparts. The misconception of difficulty in financing and insuring manufactured homes is debunked, as various insurance options and lenders are readily available. Addressing concerns about noticeable differences, these homes are constructed with the same materials as site-built ones, offering comparable curb appeal. Additionally, the notion that manufactured homes lack customization is debunked, as buyers can personalize their homes with various amenities and designs. Through informed research, one may find that manufactured homes present a viable and customizable housing option that aligns with both lifestyle and budget considerations.
