Home prices are very much overvalued in the Lincoln and Omaha areas, including in areas as close in proximity as Milford and Seward. Most prospective newer home buyers can only laugh and shake their heads, unless they are desperate.
Experts say this is due to numerous factors, including:
- Surrounding farm ground prices being pushed to unreasonably inflated values by wealthy and/or well-financed bidders, thereby affecting all real estate prices.
- Cheap money caused by artificially low interest rates charged by the Fed for the past decade.
- A shortage of available homes due to Baby Boomers staying in their homes longer than older generations, as well as the increasing average age of American homes.
- Fewer new homes being built due to shortage of home builders and contractors.
- Home builders choosing to focus on custom-built homes of $500,000 or more, instead of middle-class structures.
That's why we wanted to use this post as an opportunity to explore modular home builders and retailers in our area.
Modular homes are not mobile homes, which depreciate in value and do not improve a community. Instead, modular homes are real homes, built section-by-section in a factory setting, indoors, where they are never subjected to adverse weather conditions like a typical stick-built home. The individual sections move through the factory, with the company's quality control department checking them every step. They are placed on a pre-made foundation, professionally joined, and completed by a local builder.
What's more, modular homes can lead to significant cost savings versus traditional stick-built homes. Think of modular manufacturing as a smarter, more efficient way of home building, just as the assembly line was for automobiles beginning over 100 years ago. Best of all, the quality of modular homes has improved exponentially over just the past decade, to the point that one can no longer tell what was stick-built and what was produced off site.
We think modular homes are the future of home building for the middle- and working class, as well as for those who want to avoid a lifetime of mortgage payments. They definitely offer at least a partial solution for smaller communities like Dorchester that are in need of new houses.
In our area, there are several modular home builders to choose from, including:
- Heritage Homes -- Wayne, Neb. (Click on the company's name to see websites.)
- Vantage Pointe Homes -- Lincoln, Neb.
- BonnaVilla Modular Homes -- Aurora, Neb.
- Champion Homes -- York, Neb.
- Harvest Homes -- Omaha, Neb.
- Wardcraft Homes -- Clay Center, Kan.
- Sears Manufactured Homes -- Lincoln, Neb.
- Iseman Homes -- Kearney, Neb.
- Quality Homes - Summerfield, Kan.