This episode features MAI Appraiser and MH industry expert Chuck Schierbeck, a senior valuations specialist with Colliers International and an expert on commercial property evaluations like preparation of appraisal reports, supply and demand analysis, financial and site feasibility, and overall market examination.
Chuck gives us an insider’s view of the biggest changes in the industry since the recession. He also shares his views on trends and risks that are the shaping the future of mobile homes.
“So what happened sort of in the 2000’s all the way up to today is people, owners started to have them figure out how to sell homes in their communities, finance them, do all that. So owners have had to become more than just property owners. They’ve had to become retailers, lenders, things like that.”
“If you’re not built to dig up the dirt and put in the roads, you’re not comfortable doing that, the same thing goes back to the smaller homes. I don’t think the industry is built for that yet.”
“The question is with these different trends, what does my market want?”
“The ideal thing is you got a community, trying to sell homes, you open the rentals, get your property filled out with whatever methods you can, and then try to turn those rentals into owners. And from zero, that would be the model that I would say.”
“I think there is some risk in increasing interest rates. I don’t know that it’s impending… people thought it was going to go up and then it didn’t.”
[05:15] Chuck’s background and how he got into the business
[10:43] Big industry changes since the recession
[21:07] Discussion on trends (tiny homes and rentals)
[36:32] Creating additional ancillary income streams
[45:56] Risks to the industry in the future