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
Many of today’s manufactured home are virtually identical to site-built homes. Lenders offer loans for this type of manufactured home with the same rates as site-built loans. Manufactured home lenders can provide the loans through Fannie Mae’s MH Advantage program and Freddie Mac’s CHOICEHome program.
MHISC Fall Meeting Report Industry leaders convene in Columbia for state meeting MHISC members from across the state and the Southeast gathered November 5 and 6 for the association’s fall meeting. Association Chair Joanne Polston presided over the meeting. Ronnie and Kaesi Boyce served as hosts for the awards presentation. Best in the Business The […]
MHISC now has two Facebook pages One page exclusively for members has insider info for industry professionals. The other features great facts about factory-built homes members can use in their own social media. The association recommends that members follow both pages because they each have a different benefit. MHISC Members is a closed group […]
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 […]
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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 […]
SC Industry Insider
The Story Behind the Story
Blog by Mark Dillard
The final year-end statistics for South Carolina are in, and the numbers are pretty good. Among all the states, South Carolina is a Top Five Shipment Gainer for December with a 27% increase over the year before. We remain a Top Ten Market Share state nationally.
Association management is a good job for people who like a lot of variety in their workday. It also helps if you like to stay pretty busy. We have a small staff but there’s a lot going on any given day. Like yesterday, Friday the 25th….. MODULAR We sent out the results of a survey […]
December 30, 2019 Wow, 2019 was an eventful year for the manufactured home industry in South Carolina. Many thanks to the MHISC Board, committee members and chapter leaders, including our Chairs during that period, John Bowers, and Joanne Polston. And I’d put the talent and work ethic of the MHISC staff up against any association […]