Wednesday, July 27, 2016

Are You Swept Up in the Pokémon Craze?

It’s been 20 days since the hottest game on the market has been released: Pokémon Go. It wasn’t long after this game was ranked as the first mass-consumption nostalgia product for millennials; in fact, one headline reported that a week after the release date, there were 15 million downloads between Apple’s App Store and Google Play!

Regardless, there are still many who are unfavorable of the cultural phenomenon. Several articles have been released condescending millennials for getting swept up in the craze, but even more have been released foretelling the advantages to Nintendo’s new experiment. It seems businesses could profit from the game’s popularity; by using some of the built-in tools, one could potentially draw the masses to one location and keep them there. Here are 5 ideas to catch em all!

Click Here to read the full article

Thursday, July 21, 2016

MHI Members Nominated for Induction into the RV/MH Hall of Fame

Five members of the MHI (Manufactured Housing Institute) have recently been invited to join the RV/MH Hall of Fame in Elkhart, Indiana this August 1st. The board of directors of the RV/MH Heritage Foundation is hosting the event; President Darryl Searer, after announcing the names, further impressed the importance of the title, implying these men are industry leaders, pioneers and innovators who have made an impact on the manufactured housing industry.

The names are:

Ross Kinzler of Wisconsin Housing Alliance

James (Jim) Miller of Style Crest, Inc.

Joseph H. Stegmayer of Cavco Industries, Inc.

Robert (Bob) Edward Richardson of Richardson Homes Corp.

Roland Sahm (deceased) who founded Elixir Industries

Only three of the men nominated are, or have been, active members of MHI: Ross Kinzler, Jim Miller and Joe Stegmayer. 

If you would like to read the full article from Manufactured Housing Institute, Click Here

Wednesday, July 13, 2016

Park-Owners in Palo Alto Ordered to Compensate Tenants for Relocation Costs

This article is a summary of the San Francisco Chronicle’s article titled “Palo Alto trailer court owners lose battle over relocation costs.” If you would like to read the full article, select the hyperlink at the bottom of this page.

Tim and Eva Jisser are the current owners of Buena Vista Mobile Home Park in Palo Alto, California and have been since 1986. The manufactured community retains 117 trailer units and is set on a 4 ½ acre lot. Although they applied to close the park in November 2012, hoping to sell the property to a potential investor, they are still battling to have their plans to come to life.

Because California law allows local governments to require mobile home park owners to protect residents from shutdown effects, the Jissers have been ordered to compensate each tenant for relocation costs; whether the residents want move their trailer to a separate location or pay a higher rent elsewhere in the city is irrelevant.

After the Jissers’ applied to close Buena Vista in 2012, Palo Alto and Santa Clara County jointly agreed to keep the community open with intent to acquire the property by any means, pledging $29 million between the two to purchase it. In September 2014, Palo Alto city officials held a hearing to discuss the sale, as Buena Vista is the only mobile home park in the city, and granted the Jissers permission, given they compensate residents for the value of their home, the moving costs and the difference between their trailer rent and the average apartment rent in the city and surrounding suburbs.

The expenditures were added and found to be approximately $20,000 per tenant, or $8 million all together.

Tim and Eva filed suit in federal court in November arguing that the city-ordered payments were unconstitutional, that they amounted to an unconstitutional confiscation of their property. But because of a technicality, a federal judge ruled for the trailer court owners to move forward with the city’s verdict.

According to U.S. District Judge Edward Davila, federal court doctrine calls for property owners to first turn to state courts before filing under the federal system and only after the state courts fail to resolve the issue can the owners take their constitutional claims to federal court.

With that, the Jissers filed an appeal later that day.

To read the full article, Click Here

Thursday, July 7, 2016

Top 10 States Projected For Employment Growth

Every year, The Kiplinger Letter is released to direct jobseekers and entrepreneurs to the most predicted prosperous states in which they could thrive easier. The following article is a summary of the original Kiplinger Letter; below is the link to the original blog as well.
Exceeding the national average employment growth rate of 1.8%, these ten states are predicted to be the most likely to see the fastest employment gains this year. Ranging rates between 2.7% and 3.5% prove just how effective the next 12 months could be for these states and their economic development. Although their growth rate could be slower, the larger states with higher populations will most likely see the highest numbers of new jobs, but even still, three large states are among these ten as well as the five with the biggest gains: California, Florida and Georgia.
     1.       Idaho
Representing a population of 1,655,000, Idaho is supposed to increase their job growth by 0.6% this year, reaching an impressive 3.5% for 2016 job growth! The state has plans in line to add 23,580 jobs, exceeding their 2015 mark by over 4,000! Idaho has been involved with several tech and aerospace industries as well as military bases that have been boosting spending in surrounding areas. Furthermore, more and more residents are drawn to the Gem State as well as several companies; in fact, many have started to expand here! Cradlepoint, a wireless data company, is developing rapidly in Boise, agricultural firm J.R. Simplot is hiring 600 for a new processing plant in Kuna, Micron Technology, a semiconductor manufacturer, has 200 job openings for its plant expansion planned to finish in early 2017 and Chobani is expanding its plant in Twin Falls! Additionally, multiple separate companies have development plans in Idaho.
     2.       Arizona
With an increase of 0.6% in job growth, Arizona caps their predicted 2016 job growth rate at 3.2%, estimating an approximate 84,380 new jobs this year! The unemployment rate at year-end 2015 was 5.9%, meaning the Grand Canyon State can expect a 0.4% drop by year-end 2016. The housing and construction markets have finally turned around in the sunny state, drawing many people to the cities with the states low taxes and cost of living. Home Depot will add 800 jobs at an online customer support center in Tempe, Northern Trust Corp. has plans to hire 1,000 new employees by 2018, Banner Health is building a $400 million hospital expansion in Tucson, and in Phoenix, an additional 1,600 jobs are expected to come through at the hands of Farmers Insurance and Cenlar.
     3.       Utah
Although Utah’s unemployment rate is to rise 0.3% throughout the year to a projected 3.4%, the state is prepared to add 42,720 jobs, creating the 2016 job growth rate of 3.1%! Entrata, a property management software developer, is investing $6 million to create 191 jobs over the 1,400 it now has while finance company SoFi is expected to add 400 jobs over the course of the next few years.
     4.       Oregon
Due to its lower prices than the bigger cities in the region, Portland proves to be an attractive location for tech companies; in fact, New Relic recently moved more than 200 jobs from Seattle to Portland! Overall as a state, Oregon has a projected job growth of 3.0% this year, lower than 2015’s 3.3%, but still bringing 53,360 new jobs to the Beaver State! Under Armour has decided to relocate its footwear design department from Baltimore to Portland in attempt to use Oregon’s skilled workers as Nike, Adidas and Columbia Sportswear have.
     5.       Florida
Boasting the large population of 20,271,000, Florida has a 2016 projected job growth rate of 3.0%, adding 242,870 jobs this year! The state’s unemployment rate is to drop another 0.2% to 4.9%, lower than the national average of 5.4%. In Orlando, multiple health-care projects are sprouting including a new cancer care center that is supposed to create 500 construction jobs as well as 200 permanent jobs, assumedly in the medical field; approximately $100 million have been invested into this project. Moreover, Citibank has transferred 150 jobs from Hartford to Tampa and medical device company Arthrex is to add 350 jobs in Ave Maria.
     6.       Georgia
Georgia has a predicted 3.0% job growth this year, expecting to add 128,030 jobs! Most of this is due to the need for employees in the distribution center industry; in fact, more than 1,200 jobs are expected to arise through HD Supply, Dollar General, Papa Johns, Polymer Logistics and Shorr Packaging! Furthermore, Equifax, the credit bureau, is adding 650 in midtown Atlanta while the software developer, Keysight, is to add 200 developers to the capital as well.
     7.       Washington
Planning to add 88,320 more jobs in 2016, Washington’s rate for job growth is set at 2.8%. Because of Boeing’s workforce reduction to cut costs, the tech industry is to “step it up a notch” by contributing thousands of jobs to even the year out, especially in Seattle. Amazon, over the last two years, has added 15,000 jobs to the region! In addition, Facebook has doubled its Seattle workforce to 1,000 and Starbucks plans to add 100 positions to its tech department.
     8.       Tennessee
Increasing its job growth by 0.3% to 2.8%, Tennessee is projected to add another 80,980 jobs this year, primarily through the automotive industry. General Motors will require 800 new positions to carry through its planned expansion and Hankook Tire will add 2,000 jobs to the state, 200 to its new headquarters in Nashville and 1,800 at its new factory in Clarksville. Volkswagen, additionally, plans to develop its facilities in Chattanooga, despite the recent Volkswagen emissions scandal, which should add 2,000 jobs in the next year. Several other corporations have decided to relocate headquarters to The Volunteer State or expand factories, including Bridgestone, HCA Holdings, Regal Entertainment, TeamHealth and TAG Manufacturing.
     9.       Colorado
Although it may seem as if Colorado is slowing down this year from last, The Centennial State is still extremely productive! Only dropping 0.4% in job growth this year, Colorado is expected to produce 68,630 jobs at a 2.7% growth rate.  Several companies are expanding in the popular Denver area, including Fidelity Investments, Gusto, DaVita and Lockheed Martin Space Systems.
     10.   California
Last, but certainly not least, the land of 40 million people: California. Because Silicon Valley (the headquarters of Google and Facebook) still attracts many IT companies, including those of world class, LeEco, a Chinese firm, has decided to open a North American headquarters in San Jose. Amazon is adding two new distribution centers in Tracy and Eastvale, creating 1,500 jobs! Finally, the major economic push in this year’s California industry is seen in the health care firms projected to create 60,000 jobs! Overall, the state has a 2.7% job growth rate and 433,400 projected jobs for 2016!

Click Here to read more

Tuesday, July 5, 2016

Recently Closed Manufactured Housing Community in Michigan

PCG National Manufactured Housing Group recently Closed Maplewood Estates in Grand Rapids Michigan. This sale was a 115 Unit Manufactured Housing Community, this all- age community closed at a sales price of $4,200,000. The property is a stabilized community with Swimming pool and was closed at a 10.2% CAP Rate.