Information to keep our members up to date.
SC Industry Insider:
The Story Behind the Story
Blog by Mark Dillard
– January 15, 2021 –
A friend of mine has been having headaches and blurry vision. He went to see an optimist.
Who told my friend, “Don’t worry, you’ll be fine!”
I’ve rolled that joke out at least a dozen times and never gotten the slightest laugh. Maybe it’s a timing thing.
Even the biggest pessimist will have to agree that the manufactured home industry in South Carolina is in an upturn. Shipments have increased every year in the Palmetto State from 2011 through the end of the decade.
The statistical reports usually come in a couple of months later, but 2020 shipments through November have already exceed the annual total for 2019. That’s 4374 shipments for the first 11 months of 2020 compared to annual 2019 shipments of 4079.
What the industry in SC is seeing is solid, steady growth. Most years it’s been around 10 percent or so.
Of course sales today are nothing like past eras including most of the 1990s. But that was a different era, back when lenders bought loose and verification was casual. A lot of people who bought houses had no business buying a house. They just weren’t qualified. Many of those homes were repossessed and put back on the market dirt cheap.
A few years down the road it was over. The glut of repossessed homes had not only suppressed new home sales, but had a big impact on appraisals. Appraisers said that those homes had to be used in calculating the value of all homes, including new ones. Many customers couldn’t get their home appraised at the retail value and couldn’t get a loan. Lenders had trouble reselling their loans on the secondary market. It was a mess.
The same thing happened to a large degree in the site-built home industry, a major factor in the 2008 crash in housing prices.
The upturn we’ve seen throughout the past decade and continuing in 2021 is a different animal. Quality loans and steady sustainable growth, supported by low interest rates. This is a good time to be in the manufactured home business.
Older Blog Posts
Congratulations to Bruce Kelly and Con Eargle retiring after 24 years as owners and instructors at the SC Manufactured Housing Academy. And welcome to Joanne Polston. The state licensing board approved her for the important role of training every new retail dealer and salesperson on the finer points of the laws governing the manufactured housing […]
Click here to check out the most recent edition of Update Magazine!
The US Department of Housing and Urban Development (HUD) has published guidelines they say will make it easier to understand what type of proof property owners can require from renters showing they own a legitimate service animal. In some cases service animals are exempt from no-pets policies. The directive spells out the difference between assistance […]
The popular ENERGY STAR zero sales tax incentive will remain in effect until at least July 1, 2024. The SC General Assembly passed legislation drafted by MHISC during the 2020 legislative session. Because of this incentive, homebuyers purchasing a manufactured home that meets ENERGY STAR standards will pay no sales tax on the home. Not only does this law make our products more affordable, but it helps to solidify our place as sustainable, affordable, energy efficient housing.
Click here to check out July’s edition of Update Magazine!
SC Industry Insider
The Story Behind the Story
Blog by Mark Dillard
The deadline for getting your CE and renewing your has been moved back to September 30. Because of the virus, MHISC has decided to offer four hours of CE online. These courses will be available for you to take 24/7 at your own pace. We are currently working on finishing up the first course and will have it available either later this week or next week. Will will have the rest of the course up in plenty of time to get your four hours and renew your license.
Which one is Sales Manager Mark Celedonia and which is Sales Manager Mike Comparato? MHISC’s membership directory helps you keep everybody in the industry straight. It’s pretty cool. We’re adding photos of the members to all of the directory listings.
As you can imagine there are a lot of C-19 issues to deal with and essential information to get out to the members. One key goal is being sure our industry is allowed to carry out the essential functions needed by the people of South Carolina. Residents depend on our community managers to keep everything safe, clean and in good working order. The last thing a family needs right now is to move out of their apartment and find that they can’t get a permit to move into their new home.