Indiana Gets Transferable Registration Tags for Modular Home Carriers

June 8, 2018

SB 375 on Transferable Registration Tags Spearheaded by Adventure Homes to Ease Cost for Builders, Retailers and Customers in Delivery of Modular Homes

This week Indiana Gov. Eric Holcomb signed SB 375, which eliminates the requirement for permanent tags on carriers that transport modular homes to customers. The switch to a transferable tag program and recyclable carriers will save money for builders, retailers and customers.

The new Indiana state law will go into effect on July 1.

Indiana is a national leader in modular housing and other forms of factory built homes. State code modular manufacturers with the new law will be able to maintain a lower cost disposable “MOD carrier” program.

“A permanent carrier fleet is extremely expensive for the housing manufacturer, the retailer/site builder and ultimately the consumer,” Adventure Homes General Manager Rich Rice said. “It is also a logistical nightmare to manage the returnable carriers.”

Change to Transferable Registration Tags Could Serve as Model for Other States

A disposable carrier is a lightweight and less expensive carrier designed to ship one specific home to a destination. The number of axles and axle location varies based on the requirements for the specified home. The change can help right-size the cost of delivery.

In general, the cost with the new method is several thousand dollars less than that associated with the heavy duty reusable carriers, which have been the industry standard.

The mod/site builder receiving the home on a disposable carrier removes the home and can recycle the carriers including axles, hubs and tires. With rising price of steel, recycling can be quite profitable.

Overall, the new transportation process creates an actual savings that is passed to the consumer.

Cost Savings Achieved on Several Fronts with SB 375

“And, of course, the carrier is disposed of at the new home site, meaning the consumer no longer carries the burden of paying for return shipping of the carrier to the manufacturing plant,” Rice said. “Neither does the manufacturing plant have to push to get a returnable chassis back in order to get another modular home shipped.”

So, rather than paying as much as $2,000 to return a carrier, the customer merely returns the license plates for between $10-15 in shipping.

The new Indiana law allows a modular manufacturer in Indiana to purchase sets of registration tags. The reusable tags can be put on any carrier in the new recyclable fleet. And carriers no longer need to be titled, eliminating the need for re-titling required under existing law.

As a result, manufacturers merely need to maintain record of the serial number for a home that was used in connection with registration plates as a measure to track registrations in the field.

Additionally, if a plate and/or registration tag is lost, the registration can be cancelled.

Registrations sets are renewed annually at the rate required by the state for that year.

How the Transferable Registration Tags Made It to State Law

Adventure Homes approached Indiana Manufactured Housing Association Executive Director Ron Breymier about the concept of transferable registration tags. Rice and Breymier contacted the Indiana Department of Transportation and the state Bureau of Motor Vehicles about the idea. Following two years of discussion, meetings with agency management and attorneys, it was determined that existing law would prevent initiation of the concept.

“We set our sights in a new direction and turned to the State Legislature to create new law,” Rice said. “Sen. Blake Doriot authored and sponsored the initial Senate Bill 375. Sen. Doriat was able to get a hearing with the Senate Transportation Committee.”

Again, Rice testified for the committee and chairman Sen. Mike Crider brought the issue to a vote, which passed unanimously. In the state House Rep. Doug Miller championed SB 375, signing the bill and facilitating a House Committee hearing.

“I was able to testify again in front of the house committee, and again, the measure was passed unanimously,” Rice said. “With this much momentum we felt very good that it would be passed by the full House and Senate and it was.”

On Monday June 4, Indiana Gov. Eric Holcomb signed SB 375 into law.

Fannie Mae Re-launches MH Advantage Loan Program

Patrick Revere

June 6, 2018

Fannie Mae has re-launched its MH Advantage program. The program is designed to provide increased financing options for manufactured housing and close the gap between affordable housing and the traditional site-built residences.

Homes that are eligible for the new MH Advantage program include the following features:

Roof treatments distinct from traditional manufactured homes, including eaves and higher pitch rooflines
Lower profile foundations, carports, garages, porches, and/or dormers
Interiors that feature drywall and kitchens and bathrooms with upgraded cabinets
Exteriors that feature durable siding materials
MH Advantage-eligible homes can become a seamless part of any single-family neighborhood

MH Advantage homes must be titled as real property and are factory-built manufactured homes that remain subject to the HUD Manufactured Housing requirements and must be permanently affixed to the land.

This is a new mortgage option that offers affordable conventional financing when a new home is purchased through a retailer and is financed through a lender who is a Fannie Mae partner.

The need for more affordable housing and greater access to financing for affordable housing is the primary driver for the change. Entry level site-built homes have “become scarcer, smaller, older, and are more likely in need of major renovations,” according to a statement by Fannie Mae.

Home prices nationwide are increasing at a rapid pace, and attention toward modern, high-quality manufactured homes is a viable solution.

Changes Offered by MH Advantage

With the new financing option, prospective homebuyers get the design features they want at a price they can afford. Loans through the program are more attainable and flexible, opening the door to home ownership for millions of Americans.

MH Advantage Features Include:

Higher loan-to-value (LTV) ratios, up to 97%.
Waived 0.50% Loan Level Price Adjustment
Able to be combined with HomeReady, HFA Preferred, and other Fannie Mae mortgages

Appraisal and Underwriting Changes

MH Advantage provides underwriting and origination changes that streamline processes and creates a more straightforward transaction. This allows retailers to manage their MH portfolios with improved flexibility.

A manufacturer sticker helps appraisers identify an MH Advantage home, and provides use of MH appraisal guidelines and a Desktop Underwriter (DU) underwriting process similar to features found in standard MH loans.

Standard MH Program

Standard MH, which includes single- and double-wide homes that are ineligible for MH Advantage, offers an even more affordable alternative to site-built homes. This provides relief for millions of American households, especially in high-cost and rural areas.

Fannie Mae purchases mortgages secured by manufactured housing titled as real estate via approved lender partners using standard MH underwriting guidelines.

Guild Mortgage Jumps into MH Advantage Program

Guild Mortgage within days of Fannie Mae’s launch of the program announced its intent to provide 30-year loans for manufactured homes via the new program.

Borrowers qualify for a rate as low as 3 percent with a down payment.

“There is an increased interest in manufactured housing throughout the U.S. because of current housing shortages, both in the resale of existing homes, and future inventory based on forecasts of new housing starts,”Guild Mortgage President and CEO Mary Ann McGarry said. “Guild has been one of the top originators of loans for manufactured homes for some time and we are pleased to offer this new MH Advantage program with Fannie Mae. It comes at a critical time when many potential homebuyers are priced out of the market. This gives them a high-quality option with low down payment and a lower interest rate.”

Tiny House Jamboree in Austin Starts with New Industry Pro Days

Patrick Revere

June 6, 2018

More than 75 Homes on Display, 11,000-plus to Attend Jamboree in Austin at Travis County Expo Center

The Tiny House & Simple Living Jamboree in its fourth year has landed in Austin, Texas, a city that looks to be a leader in welcoming tiny structures for full-time residence.

More than 75 structures will be on display. These include cabins, park models, small modular homes and tiny homes on wheels, often called “THOWs”.

The event takes place August 23-26 at the Travis County Expo Center. The first two days will be the first-ever industry only event for tiny home professionals. The Jamboree opens to the public for the weekend.

Manufactured Housing Leaders to Exhibit at Jamboree in Austin

Included among the tiny structure exhibits will be Athens Park Model RVs by Champion Homes, as well as Clayton’ Designer Series Tiny Homes, designed by architect Jeffrey Dungan.

Additional tiny home builders to exhibit include ATX Tiny Casas, Step Two Tiny Homes, Soujourner Tiny Homes, Rocky Mountain Tiny Houses and more.

Jon Fontane of Reed Exhibitions is the event director of the Tiny House Jamboree in Austin.

Fontane expects up to 1,500 attendees for industry days. There will be another 10,000 for the weekend’s from the general public. However, the public attendance could be much larger, he said.

Organizers are working with other established factory builders to attend. In general, there has been a convergence in the tiny structure space. This includes a more organized and professional approach from independent builders and “hobbyists”. And there has been an increase in attention from established site-built professionals.

“We really are starting to see established construction professionals involved in the tiny house space,” Fontane said. “We have a good number of builders on the THOW side, now, and that’s beginning to grow.”

The establishment of accepted building codes for tiny houses and education on zoning requirements has been a continued side-by-side effort for the jamboree.

MHInsider Readers Can Get a $50 Industry Discount!

New Tiny Home Industry Association Membership Included with Entry to Professional Tiny House Jamboree in Austin

The National Tiny House and Simple Living Jamboree in Austin looks to up the ante in formalizing the industry.

Darin Zaruba, founder of the Jamboree and CEO of Zinc Homes, said builder and product exhibitors at the 2018 Jamboree will get automatic first-year membership into the new Tiny Home Industry Association.

The association already has an interim board of directors. When the membership rolls grow, a call for votes will determine the new full-time board and will result in committee assignments to address industry needs like land development, code and safety, builder and product interests, marketing and other areas of intent.

“This has become an industry and there needs to representation from the trades that affects change for safety, advocacy and lobby on a professional level,” Zaruba said.

Thom Stanton, industry expert and CEO of GoTiny.com, will lead a forum on the Unified Code Initiative that intends to provide an attractive code for all professionals to builders interested in tiny structures.

“There needs to be a new code around tiny homes on wheels,” Zaruba said. “What we’re talking about are small homes on a permanent trailer that can be pulled by a one-ton truck.”

Also, there will be professional panels to provide a wide “Industry Update” and in regard to “Challenges for Cities”, as well as a series of moderated small group discussions in the areas of construction and design, code, zoning and lifestyle.

The Weekend at the Tiny House Jamboree in Austin is Open to the Public

Of course, tiny house professionals will come the Jamboree for networking, industry updates and best practices, but will join the general public for the flavor of product, supply and service offerings.

Organizers of the Jamboree in Austin have again have partnered with Operation Tiny Home to donate a tiny house to the village at Community First Austin. The donate house will be customized by three Austin based street artist live on Saturday.

Additionally, a sure-fire area of interest will be the on-site work of tiny food designer Tom Brown.

“He sets up in the center of an event and starts making tiny donuts or tiny tacos,” Fontane said. “And I mean really tiny. It’s fascinating to watch.”

General admission tickets for the weekend are available for between $15 and $45, plus taxes and fees. Industry days show tickets for professionals are available for $40 to $150.

Buy tickets and book lodging now while access is available.

Home Builders Announce Skyline Champion Corporation

Patrick Revere

June 5, 2018

Skyline Champion Corporation Becomes Nation’s Largest Public Factory Home Builder

Skyline Corporation and Champion Enterprises Holdings, LLC, the parent company of Champion Home Builders, announced the closing of their previous operation to form Skyline Champion Corporation.

The combined company will operate as Skyline Champion Corporation and its common stock will trade on the New York Stock Exchange under the ticker symbol “SKY”. The ticker symbol is the same symbol under which Skyline previously traded.

Company headquarters will remain in Elkhart, Ind., where Skyline is based, with continued operation from Troy, Mich., where Champion has had central operations. The new company’s combined market share reaches 18 percent, with combined annual net sales exceeding $1.3 billion.

Skyline Champion gains an advantageous platform to support the production of manufactured and modular homes, park-model RVs and modular buildings for the multi-family, hospitality, senior and workforce housing sectors.

“We are very excited to close the transaction and look forward to operating as Skyline Champion Corporation,” said Keith Anderson, Skyline Champion’s chief executive officer. “Skyline Champion is now the largest independent publicly traded factory-built housing company in the United States with combined revenue of more than $1.3 billion. The increased size and scale, coupled with a strong balance sheet and significant cash flow generation capability, has us well positioned to execute our long term growth strategy.

“There is a tremendous opportunity for Skyline Champion to take advantage of the attractive market dynamics in the industry given our broader geographic footprint across North America and our enhanced product offering,” Anderson said. “We will remain committed to providing quality products and outstanding customer service as we focus on executing our strategy on our newly enhanced platform.”

What the Formation of Skyline Champion Corporation Will Do

Anderson said the new organization anticipates taking advantage of efficiencies that result from the merger, to the tune of about $10 to $15 million. These efficiencies primarily are driven by direct cost savings, reduced overhead costs and operational improvement opportunities. The company also will target synergies through cross-selling and distribution optimization through the combined company’s owned and independent dealer network.

“The complementary cultures and shared values of our legacy businesses are evident in the deep commitment to providing solutions to customers and delivering a broad range of quality products and value-added services,” Anderson said. “I am confident that this will translate into future success of Skyline Champion.”

In conjunction with the closing of the transaction, Skyline issued approximately 47.8 million shares to Champion, representing 84.5 percent of the common stock of the combined company on a fully-diluted basis.

Champion Skyline Corporation — Champion Topeka Displayed a New Model Home at The Louisville Show in January.

Also, Skyline paid a special cash dividend on May 31 of $0.62381 per share on the company’s common stock to Skyline’s shareholders of record at the close of business on May 25, 2018.

Jefferies LLC served as financial advisor to Skyline. Barnes & Thornburg LLP acted as Skyline’s legal counsel. Ice Miller LLP acted as legal counsel to Skyline’s Special Committee of the Board. RBC Capital Markets, LLC served as financial advisor to Champion, and Ropes & Gray LLP acted as Champion’s legal counsel. Taft Stettinius & Hollister LLP acted as Indiana legal counsel to Champion.

About Skyline Champion Corporation

Skyline Champion Corporation (NYSE: SKY) formed in June of 2018 as the result of the combination of Skyline Corporation and the operating assets of Champion Enterprises Holdings, LLC. The combined company employs more than 6,800 people and is the largest independent factory-built housing company in North America. With more than 65 years of homebuilding experience and 36 manufacturing facilities throughout the United States and western Canada, Skyline Champion is well positioned with a leading portfolio of manufactured and modular homes, park-models and modular buildings for the multi-family, hospitality, senior and workforce housing sectors.

In addition to its core home building business, Skyline Champion operates a factory-direct retail business, Titan Factory Direct, with 21 retail locations spanning the southern United States, and Star Fleet Trucking, providing transportation services to the manufactured housing and other industries from 10 dispatch locations across the United States.

Skyline Champion builds homes under some of the most well know brand names in the factory-built housing industry including Skyline Homes, Champion Home Builders, Athens Park Models, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, Shore Park, Silvercrest, Titan Homes in the U.S. and Moduline and SRI Homes in western Canada.

How to Prepare for Open House Season!

Ellie Walker

June 4, 2018

Are You Ready for Open House Season?

As spring turns to summer we are in the prime of Open House season. We have several articles covering different aspects of an open house that truly make a difference but here will put together a crash course on how you can gain the most exposure and successful open house possible!

Prep The Home

For an open house, not only do you want to be sure the home is clean and clutter free, a fresh coat of paint goes a long way too!

It’s also important to be sure the home is staged in a way that is inviting and shows off the home in it’s best light (Pro Tip: Here is a great article on Staging Your Home to Sell)

Don’t Forget The Yard

We all know it’s all about curb appeal. That first impression can make or a break a sale easily. Be sure the home’s exterior matches it’s interior with clean and fresh lines. Adding some coloring flowers can also spruce things up quite a bit!

Hospitality

Offering your guests some easy to eat snacks is never a bad idea. The fresh baked cookies trick is a good one. But if you want to step it up, bring in some catered veggie platters or sandwich trays. Also, offering bottled water is also a great idea since most of the time your guests are probably seeing more than one home that day, so a snack and some water will be appreciated!

Ambiance

Set the tone of the Open House with low volume music. This will give the space an energy and pulse and it also allows for the guests to roam the space on their own without feeling like their conversation is being overheard. Note: Try to stick to music choices that are accessible and up-beat. Jazz, Standards or 60’s Pop are typically your safest bet!

Your Home is Ready for Open House Season, Are You?

It’s super important to be sure you have all of the necessary paperwork and information printed and available at the open house. The more information you can provide a perspective buyer the better. The best option would be to print off any necessary information and assemble some packets that you can easily hand them to take home and review. Be sure to also include a printed flyer with the home’s information and photo too!

Advertise Your Open House on MHVillage

Not only will you want to advertise your open house on your own social media outlets and local activity spots, if you are listed on MHVillage we also offer a product to gain your open house some exposure.

The MHVillage Open House feature will give your home a bright red banner across the top of the ad with the Open House details.

It will also shoot your listing to the very top of the first page of homes in a general search. We recommend applying an Open House banner to your listing at least 7 days prior to the event.

To apply this feature simply select the “Add Open House” option to the right of your listing within your account.

Hopefully this article will give your the details you needed to elevate your open house game to a new level!

If you have any additional questions on how you advertise your open house on MHVillage please feel free to contact us at any time!

Community Market Reports Available Through MHVillage and Datacomp

Dawn Highhouse

June 4, 2018

Manufactured Home Communities For Sale — Photo Courtesy of Zeman Homes.

MHVillage has a database of over 43,000 communities across the country. This valuable information is now available for purchase in spreadsheet format. In addition to the names and addresses of the communities, you can choose additional information (phone numbers, site counts, age restrictions, etc.) to create a community market report customized for your needs.

community report map — Map on MHVillage.com to order a community report.

To generate your customized report of community information, simply select your state of interest. You will then have the opportunity to choose additional information to include in your report. Once you have placed your order, you should receive your report via email, in a spreadsheet attachment, within a few minutes!

To see what is available go to the Community Market Reports page on MHVillage.

Datacomp JLT Community Market Reports

JLT Community Market Reports are the industry standard for the manufactured housing and include the following detailed information:

Identification of communities by “All Ages” and “55+”
Homesite analysis
Occupancy rate
Community marketing programs and customer incentives
List of community amenities
Monthly rents by category/classification
Services, if any, included in rents and the value of each service
Latest rent increase date and amount
Type of water and sewer system and method of trash collection
Other data deemed appropriate for the community
Management reports ranking communities by number of homesites, occupancy % and highest to lowest rent for “All Ages” and “55+” communities
Management report comparing current year rents and occupancy to the prior year for “All Ages” and “55+” communities
Historical summary management report showing average rents and occupancy rates from since inception of the surveys to the most current year for “All Ages” and “55+” communities
Executive summary of survey findings and observations

A Historical Looks at the Development of Community Market Reports

JLT & Associates was founded by John Turzer in 1995 when he uncovered a need for Manufactured Home Community research. Since then, JLT and Associates has grown to become the industry standard for Market and Rent Survey research in the Manufactured Housing Community Industry. In 2014, to expand its markets and the scope of its market research and rent surveys, JLT & Associates merged its resources, skills, and market research expertise with two well known and respected industry leaders: Datacomp and MHVillage.

Datacomp, the industry’s oldest and largest national manufactured home appraisal company, has been appraising manufactured homes in communities since 1987. It has gathered substantial data about both home values and the amenities and features of the nation’s manufactured home communities. Datacomp also manages and operates MHI’s Community Attributes System (MHICAS), the industry’s most comprehensive database of community attributes and information.

MHVillage is the premier Internet advertising and marketing website for manufactured homes in Land Lease Communities. In 2017 it recorded nearly 25 million visits to MHVillage.com, and was responsible for about $3.5 billion in home sales.

MHVillage also collects and aggregates large amounts of market data about the homes that its customers are selling or renting and about the communities and markets where those homes are located.

Together JLT, MHVillage, and Datacomp now have the expertise and capability to provide community market reports and other market research and intelligence for manufactured home communities that up to now has simply not been possible.

Datacomp now continues to publish JLT Market Reports and expand coverage nationwide.

Freddie Mac Single-Family Expands Role in Manufactured Housing

Mike Dawson

June 1, 2018

Update on ‘Duty to Serve’ Plans from Freddie Mac

Manufactured housing has a crucial role in solving our nation’s affordable housing crisis. Millions of America’s families rely on manufactured housing – especially in rural areas. Today, more than 17 million Americans live in manufactured housing and the need is only expected to grow.

With this understanding, the Federal Housing Finance Agency (FHFA) tasked Freddie Mac to develop a comprehensive plan – under Duty to Serve – to help solve the challenges of financing more manufactured housing and to support much needed affordable housing for families.

As we developed our Duty to Serve plan, Freddie Mac listened to industry feedback. This includes feedback from manufacturers and other stakeholders. Last year, we formed the Manufactured Housing Initiative Taskforce, which includes a diverse group of industry participants. Part of the objective of this task force is to address enhancements to Freddie Mac’s existing offerings. The offerings include flexible underwriting and product features that can be efficiently and effectively launched and adopted by the market, as well as socialization of features we plan to bring to market.

We value the expertise of our partners and will leverage their market-specific knowledge to address the needs of the manufactured housing market.

And we’re already making changes for the better

For example, our single-close construction loan process will be extended to borrowers of manufactured housing titled as real property. This allows the borrower to finance both the construction and the purchase of the home using one loan. Once the construction of the manufactured home is complete, the loan seamlessly converts into a permanent loan bearing a fixed or adjustable rate.

This will make approvals faster, reduce closing costs and eliminate unnecessary paperwork. And for lenders, it will mean less risk.

We will continue to do more. One concern that came across loud and clear from our conversations with stakeholders. That is that there’s a limited number of lenders that provide financing to manufactured home buyers. To solve for that, market participants encouraged us to expand liquidity, implement standardization measures and enhance consumer protections.

Over the next three years, Freddie Mac plans on doing the following for manufactured housing titled as real property:

Work with lenders to increase our purchases of loans in this important market segment,
Increase access to education and resources for future homebuyers,
Identify best practices and provide technical assistance to market participants, and
Develop additional loan features to meet the market’s needs.

For manufactured housing titled as personal property, or chattel, we plan to work with market participants to:

Promote a greater understanding of the market by conducting research and publishing the results,
Initiate a chattel pilot offering, and
Develop homebuyer education to support chattel financing.

Taking a test and learn approach

Our partnership with Kentucky-based housing intermediary Next Step focuses on educating potential buyers of manufactured homes, with the ultimate goal of expanding responsible homeownership of energy-efficient manufactured homes. Next Step’s leadership in the field, range of relationships and passion make them the right partner for this effort. We’re encouraged by the results so far.

At Freddie Mac, we are reimagining the mortgage experience and leading the mortgage industry to look at housing issues in new ways, understanding the broader problems facing these markets and applying a new generation of solutions.

As we move forward, we will continue to engage with the industry, community organizations, all levels of government, and other dedicated organizations to take action and give lenders additional tools and resources to better serve the manufactured housing market.

We look forward to meeting more industry participants at the 2018 MHI Congress and Expo in Las Vegas, to listen to your ideas, and share ours, for this vitally important market.

Mike Dawson is vice president of Single-Family Affordable Lending Strategies & Initiatives at Freddie Mac. He leads affordable products and offerings, strategies, research, and regulatory and conservatorship activities associated with broadening access to credit. Among his previous roles, he oversaw Single-Family technology and data initiatives and managed Freddie Mac’s structured products issuance programs, including REMICs, Strips, and other structured securitizations.

Greeting Your Customer

Ken Corbin

June 1, 2018

‘You never get a second chance to make a great first impression.’ – Will Rogers

As your customer enters your office, everything they see must give them an emotional feeling of trust and comfort.

In our hemisphere, everything we do is left to right and top to bottom. Think of coming up to a stop sign. You look left, look right, look left again and then proceed. If you’re reading a book, you look left to right and top to bottom. If you’re writing a letter, you again go left to right and top to bottom.

The same natural tendencies are with customers who enter your parking lot. Watch carefully where people park and you’ll see the majority will park to the left of an entrance to a building.

Regardless of where they park, make sure there are signs that clearly state “Please Register at the Information Center”.

Focus Walls

So if you can expect that a customer will naturally look left, then look right and then move forward into your office, even if you have a left swing door, this is still the natural way a customer will get that first serious impression of your operation. That being the case, the next time you enter your office, look carefully at your office and note everything your customer sees for the first time.

Employee and customer pictures, point-of-purchase materials, testimonials, letters of recommendation, live plants and round tables with chairs are essential.

Let’s start with pictures. First of all, remember that every picture in your office must be framed. Nothing is ever to be placed on a wall with scotch tape, thumb tacks or push pins. Make it a habit each day to walk through the office and ensure every wall hanging is evenly spaced and the taped-on back of the picture is held in place.

You’ll hear me frequently say, “Make doing business with you easy!”

Thus, the first pictures you’ll want your customer to see is pictures of every employee.

Remember, they’ll look left to right and since we also read top to bottom, put everyone involved in the sales process starting at the top left.

Prepping for First Visitors

If they are visiting your office for the first time, and had already spoke to someone, this is an easy way for them to remember who they talked to on the phone or via email. If they’ve previously visited your model home village, it’s another easy way for them to remember who they spoke to during their last visit.

Every picture should simply have the person’s name and title. Avoid turning the picture into a brochure.

See, make doing business with you easy!

You’ll note that as we go thru this program, I’ll be using the term “Model Home Village” and not “Lot” or “Sales Center.” We’ll be spending quite a bit of time on subliminal phrases as we go thru this series.

Success Breeds Success

Throughout the office, hang pictures of customers who have purchased homes from your company. I recommend putting four pictures to an 8 ½ x 11’’ standard size with the city the homeowner is from underneath the picture.

Don’t post their names. Why?

You want your customer to subconsciously see other people who are pleased doing business with you. It also will have them thinking about who those people might be; all the time absorbing friendly smiles from satisfied and happy customers. You want your new customer to, consciously or not, project themselves into the photo on the wall.

Because people who have their picture taken are apt to smile, I do recommend taking the photos in front of the home the customer is purchasing. It’s also great to have it taken with the sales consultant, if possible, to show everyone is happy and smiling.

In the beginning, start with customers who leave a deposit for the first time. This will give you a jump start on your pictures.

Thus, your new prospect is looking at all of the happy customers who have done business with you. So, success breeds success and you’ve begun the process of selling on emotion, feelings and trust. I guarantee this will be one of the more important areas of the business and will take down many of the initial barriers your prospect might have.

Coffee, Soda, Water

There are three primary drivers customers feel are important when making a housing decision. They are quality, service and price (or value). Your initial impressions have done a great job in letting the customer know you build dreams and make people happy.

One of the unique methods I’ve used to create an initial feeling of value is to have a 25 cent soda machine available to customers. To give away something is OK, but it doesn’t create value.

Many businesses offer free soda or bottled water, but the 25 cent machine has them contemplate why the drink is so inexpensive. It makes them look for quarter, ask for change and creates that subconscious thought of, “Wow, if their soft drinks are only 25 cents, their homes must be inexpensive as well.”

I don’t believe in charging for coffee or water. However, I do post a cute sign in the refreshments area that reads “Unattended children will be given an espresso and a free puppy!”

Everyone laughs when they read it, and it’s another subconscious way of taking down a barrier.

What we’re doing here is setting the foundation on the three premises: How do I want someone to remember me? How can I create the right first impression? How do I want to be perceived?

Ken Corbin is an industry leader in helping communities & retailers sell more homes. He can be reached at callkencorbin.com (888) 823-4945.

President Trump Signs SB 2155 to Law ‘Preserving Access to Manufactured Housing’

Patrick Revere

May 24, 2018

Preserving Access to Manufactured Housing — President Trump Signs SB 2155

‘For far too long, far too many people in our country have struggled to make ends meet. They’ve struggled to buy a car; they’ve struggled to buy a home; they’ve struggled for their version of the American Dream. Why is this happening? Because Main Street banks and credit unions that Americans depend on have been stifled by the weight, load, volume, complexity and cost of heavy Washington bureaucratic red tape which has prevented them from serving their communities. But today, that changes.’ – House Financial Services Committee Chairman Jeb Hensarling, R-Texas

Manufactured Housing Industry Celebrates ‘Loan Originator’ Definition Change

Report compiled in cooperation with the Manufactured Housing Institute

Calling today a great day for America, American workers, and small businesses, President Trump signed into law SB 2155, the “Economic Growth, Regulatory Relief, and Consumer Protection Act” that includes language on “Preserving Access to Manufactured Housing”.

S. 2155 includes a provision clarifying that a manufactured housing retailer or seller is not inappropriately considered a mortgage “loan originator” simply because they provide a customer with some assistance in the mortgage loan process. SB 2155 passed the House on Tuesday by a strong bipartisan vote of 258-159 and the U.S. Senate in March by a vote of 67 to 31.

Click here to see how your Representative voted on S. 2155 and here for how your Senators voted.

The Manufactured Housing Institute, the nation’s loan national trade organization for the industry, expressed its gratitude to Senate Banking Chairman Michael Crapo (R-ID), House Financial Services Committee Chairman Jeb Hensarling (R-TX), and the authors of the manufactured housing provision in SB 2155, Senator Joe Donnelly (D-IN) and Representative Andy Barr (R-KY), for their persistent efforts to make this important change a reality.

A bipartisan group of champions in the House and Senate who originally sponsored the Preserving Access to Manufactured Housing Act (SB 1751/H.R. 1699), include: Senators Joe Donnelly (D-IN), Pat Toomey (R-PA), Joe Manchin (D-WV), Tom Cotton (R-AR), Gary Peters (D-MI), and Tim Scott (R-SC); and Representatives Andy Barr (R-KY), Kyrsten Sinema (D-AZ), Bruce Poliquin (R-ME), Terri Sewell (D-AL), David Kustoff (R-TN), and Kathleen Rice (D-NY).

A Word from the Lawmakers on SB 2155 ‘Preserving Access to Manufactured Housing’

When SB 2155 was signed today, Senator Donnelly (D-IN) said, “Manufactured housing serves as a vital source of affordable housing for millions of hard-working Americans, particularly in rural and underserved communities. I’m pleased the President signed into law my bipartisan regulatory relief package, which includes a provision based on my Preserving Access to Manufactured Housing Act. This provision provides a common-sense exemption for manufactured home retailers to ensure consumers can receive general financing information.”

Representative Barr (R-KY) lauded the inclusion of the manufactured housing provision in SB 2155 saying: “Dodd-Frank’s one-size-fits-all ‘loan originator’ definition failed to account for the unique nature of the manufactured housing market. The result: hard-working, low and moderate-income Americans have lost access to affordable manufactured housing. The Preserving Access to Manufactured Housing Act, included in S. 2155, fixes this problem and enables more Americans to achieve the American Dream of homeownership.”

In celebrating the passage of SB 2155, Senate Banking Committee Chairman Crapo (R-ID) said: “This is a moment years in the making, and I thank my colleagues in the Senate and the House of Representatives for their partnership and contributions to this effort over the years. This step toward right-sizing regulation will allow local banks and credit unions to focus more on lending, in turn propelling economic growth and creating jobs on Main Street and in our communities. This is an important moment for small financial institutions, small businesses, and families across America.”

‘Most significant pro-growth financial regulatory reform in a generation’

Referring to SB 2155 as the most significant pro-growth financial regulatory reform in a generation, House Financial Services Committee Chairman Hensarling (R-TX) said, “For far too long, far too many people in our country have struggled to make ends meet. They’ve struggled to buy a car; they’ve struggled to buy a home; they’ve struggled for their version of the American Dream. Why is this happening? Because Main Street banks and credit unions that Americans depend on have been stifled by the weight, load, volume, complexity and cost of heavy Washington bureaucratic red tape which has prevented them from serving their communities. But today, that changes.”

SB 2155 becoming law is a result of MHI’s ongoing efforts to protect manufactured housing retailers and sellers from liability under federal consumer protection mortgage rules for the loan portion of a consumer transaction. MHI has continually argued that if a retailer or seller does not receive compensation or gain related to the loan, they should not be considered a loan originator simply because they help borrowers identify potential lenders or provide minimal assistance during the loan process.

MHI’s government affairs team worked closely with both Senate and House leadership and congressional champions of manufactured housing to secure passage of this important provision. The grassroots outreach from MHI members and state executive directors – totaling more than 20,000 calls and emails – was instrumental in helping members of Congress understand the importance of this provision to their constituents. MHI succeeded over the last few years in getting a similar provision included in several previous House-passed bills (H.R. 1699, H.R. 10, H.R. 650, H.R. 1779 and FY 2017 and 2018 appropriations bill), as well as a freestanding Senate manufactured housing bill (S. 1751 and S. 682).

Contact MHI’s Government Affairs Department with any questions at (703) 229-6208 or MHIgov@mfghome.org.

Green Courte Partners Acquires Kansas Land-Lease Community

Patrick Revere

May 23, 2018

CHICAGO, May 22, 2018 /PRNewswire/ — Green Courte Partners, LLC, a private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, announced today that its fourth investment fund, Green Courte Real Estate Partners IV, LLC and its affiliates, has acquired Conestoga, a 659-site all-age land-lease community located in Gardner, Kansas. The community will be managed by an affiliate of the fund, which plans to substantially upgrade the existing amenity package, address deferred maintenance, and invest significant capital in new home inventory to sell and to rent.

Conestoga is located approximately 26 miles southwest of Kansas City and 5 miles northeast of a 1,700-acre master-planned distribution and warehouse development with capacity for 17 million square feet of industrial and distribution space. The park is in a major employment center that is occupied by several Fortune 500 companies and will continue to generate a sizable number of new jobs.

Bill Glascott, Green Courte’s Deputy Chief Investment Officer, commented, “We are excited to expand our land-lease community portfolio with the acquisition of Conestoga. The community is well located in a growing market near a number of significant demand generators and offers a compelling value proposition for working families. We are eager to invest in a number of capital projects to further improve and reposition the community.”

Chuck Crook, the Chief Operating Officer of Green Courte’s land-lease community platform, said, “Conestoga is well-designed with strong market fundamentals, supporting the long-term potential of the community. By bringing in new homes, repairing older sections of the community, and enhancing the amenity package, we will be able to provide a superior lifestyle for our residents.”

About Green Courte Partners, LLC

Green Courte Partners, LLC is a Chicago-based private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, including land-lease communities, near-airport parking facilities, and active adult/independent senior living properties. The firm combines focused investment strategies with a disciplined approach to transaction execution, operations, and asset management. Green Courte’s goal is to invest in high-quality real estate assets that will generate attractive risk-adjusted returns over a long-term holding period. For additional information, please visit Green Courte’s website at www.GreenCourtePartners.com.

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