Elliott & Company Appraisers


JUNE 2004	A Publication of ELLIOTT® & Company Appraisers



ELLIOTT® TO HOLD FACTORY BUILT HOMES APPRAISAL CONFERENCE

In its ongoing effort to keep its real estate appraisers well informed in all facets of their profession, ELLIOTT® & Company Appraisers will hold a Factory Built Homes Appraisal Conference on August 6 at its headquarters in Greensboro, NC. The program is open to all appraisers affiliated with ELLIOTT® & Company Appraisers, as well as the company’s clients. It will be held in conjunction with the company’s Fall Appraisal Conference. Scheduled speakers will include a log-home manufacturer, a manufactured/modular home manufacturer and a factory-built home-loan underwriter. Admission is free, but space is limited. Registration is on a first-come first-served basis. This program is not intended to qualify for continuing education credit. For further information contact Mary Jefferson at (800) 854-5889.

WHAT IS THE DIFFERENCE BETWEEN
FACTORY-BUILT HOUSING AND MANUFACTURED HOUSING?

Not only does the general public have a misperception of the differences between factory-built housing and manufactured housing, but homebuyers, city planners, developers and even builders also fail to understand the fine line that separates them.

The Dictionary of Real Estate Appraisal defines “manufactured home” as “a factory-built house manufactured under the Federal Manufactured Home Construction and Safety Standards Act of 1976, commonly known as the HUD Code.” Manufactured homes of today, while superior in many ways, are what would have been referred to as mobile homes prior to 1976.

By the definition, all manufactured housing is factory-built housing. Not all factory-built housing, however, is manufactured housing. There are, in fact, four types of factory-built homes: manufactured homes, modular homes, panelized homes and pre-cut homes.

Modular homes have their components manufactured in a factory. The components are then transported to the site, where they are installed. Panelized homes consist of factory-built panels that are trucked to the site and lifted into place with a crane. The panels are usually floor or wall panels. Pre-cut homes are partially built in a factory and then shipped to the site for installation and final assembly.

Once these homes are permanently attached to a foundation, they are eligible for conventional mortgage financing.

Today’s factory-built housing makes up a larger portion of the housing market than it had in the past. It consists of a broad range of quality, beginning with the entry level manufactured home and extending through top of the line log and cedar packages that compete with the high quality traditional site-built homes.

QUOTES OF WIT & WISDOM

“Prosperity depends more on wanting what you have than having what you want.”   – Geoffrey Abert

“One of the sanest, surest and most generous joys of life comes from being happy over the good fortune of others.”   – Archibald Rutledge

“We must stop talking about the American dream and start listening to the dreams of Americans.” – Ruben Askew

“The world is a dangerous place to live; not because of people who are evil, but because of people who don’t do anything about it.”
                                                                            – Albert Einstein

“Most human beings have an infinite capacity for taking things for granted.”   – Aldous Huxley




Contact Us
Newsletter Editor: kevin@elliottco.com	Web Site: www.appraisalsanywhere.com

ELLIOTT® & Company Appraisers currently offers appraisal service throughout all 50 of the United States. Clients are encouraged to place orders directly to any office local to properties to be appraised or to the central office for assignment.

Orders may be placed via telephone, fax or through the company's Web site. All Internet orders will be processed through the central office.

Some Offices Are Independently Owned and Operated

3316-A Battleground Avenue
Greensboro, NC 27410