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I'm Getting Excited About Modular Homes

Discussion in 'General Appraisal Discussion' started by Big ole Boy, Jul 22, 2005.

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  1. Big ole Boy

    Big ole Boy Elite Member

    2
    Dec 6, 2003
    Professional Status:
    General Public
    State:
    Tennessee
    Excess demand for housing is what Starke appears to have right now.

    So,I’m getting excited about modular homes here in North Florida.

    You know, for some people, that sentence may sound nerdy or whatever – but, heck, I am seeing property really start to move here in North Florida.

    I keep thinking modulars have to be one efficient solution to our current manpower shortage. My father spec’ed two prefabs almost 30 years ago – a couple of Kingbury’s – but, in 1977-79 – things were slow here. My dad thought these pref-fabs were a little sloppy. Back then “Ripleys’ Believe It Or Not” was all I knew about St. Augustine, FL – a museum I visited as a child. But St. Augustine was where these pre-fab packages were coming from.

    Now these modulars seem to be coming out of Sylva and Thomasville, George – heck why don’t they just bring’em on in to Green Cove Springs down the St. Johns River from a freighter ship coming from China. Maybe they could hire some slave children the age of 5 or 6 years old and have them go to school to learn how to build these modular homes – say at the age of 9 or 10.

    I was drawing house plans in the third grade – but couldn’t get a job yet. I was ready to go school for my job early on; but instead, got parachiolized into a system that held me back.

    Tongue and cheek


    My dad is still building - and I am hoping that my younger brother can harness this

    new technology from Georgia and Florida - factory housing jobs ......

    I was just string the pot a liittle with the China reference ....

    I'm seeing over $106 psf of package price being paid for stemwall modular built by "Community" out of Thomasville ... in the Lake City area - and $106 over in Palatka.....

    I've got a modular I'm doing backing up to train tracks in Starke, FL - between Palatka and Lake City - both bedroom communities to 1 million metro - Jacksonville, FL ....

    The numbers seem to be inviting money to come in to this area ......

    But, we will see ...... we not only have the national metrics to think about, but the
    demographic metrics which may be somewhat insulated from other areas of the country in terms of a real estate downturn.

    I donno ..... :)
     
  2. Mike Boyd

    Mike Boyd Elite Member

    0
    Jan 18, 2002
    Professional Status:
    Retired Appraiser
    State:
    California
    Be careful what you call "modular" and don't use the term interchangeably with "manufactured homes." Big difference. See Jo Ann's main post about this subject.
     
  3. Big ole Boy

    Big ole Boy Elite Member

    2
    Dec 6, 2003
    Professional Status:
    General Public
    State:
    Tennessee
    I try to be careful with a lot of things when it relates to housing.

    I took Rich Heyns class.
    I watched my dad build onsite foundations for prefab 30 years ago.
    I got about 15 years under my belt doing these things.
    I got an SRA - so that people would respect my commitment to the field.
    I watched them build the modular in Palatka from start to finish.

    So,

    I think I have been careful with what a modular is - I am not always so careful about other things though.

    The modular home comes in on a flat bed truck - the foundation is a poured 16 inch wide footer with reinforced steel with concrete block stemwall. Home is set on the foundation with a crane picking up the home.

    My fathers been a builder for 30 years. I got 4 year degree in finance. I'm an SRA - I'm a state certified general appraiser - but, one does open themselves up to persickiness in this buisness if they say the word "excited".
     
  4. TEL2002

    TEL2002 Elite Member

    2
    Jan 16, 2002
    Professional Status:
    Retired Appraiser
    State:
    Louisiana
    I live in a cape COD modular and really like it. Full basement is typical in my area.

    My next house will also be a modular. Better quality control, weather control (duiring construction), and in my opinion better materials. They now make them just about any size, shape, configuration you could dream of.
     
  5. Big ole Boy

    Big ole Boy Elite Member

    2
    Dec 6, 2003
    Professional Status:
    General Public
    State:
    Tennessee
    My father and my younger brother build several spec homes a year.

    The demand for new housing is far beyond current supply. A new home is usually

    on the market for only a few days....

    Modulars are a good idea - but, I have seen modular where the sub-flooring is chip

    board - this is a very stupid thing for the industry to try and get away with.

    Modulars have a real good chance of success here - I have not seen a resale;

    however, - a resale would be nice to have in an appraisal. But, an emerging

    industry for this area will not have such resales just yet.

    Foundation labor can be a racket of its own though - I have seen some of these

    dealers tack-on a cost of up to 3 times the "real cost" to a home - if the dealer

    is selling the home to an owner who already has the land.

    A turnkey modular takes out all of the shinanigans - I just wish these people

    would stay away from chip board sub-flooring - stupid.....
     
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