Wisdom Homes of America, an owner and operator of manufactured homes retail centers, has positioned itself to satisfy the need for affordable, quality housing alternatives and is currently capitalizing on the rapidly increasing costs for housing across the United States. Wisdom Homes reported total sales of $556,000 for the month ended April 30, 2015.
The Wall Street Journal (www.WSJ.com) included an article by Laura Kusisto, updated on May 11, 2015, titled “Home Prices Start to Heat Up”, which noted double-digit percentage increases in home prices in many cities across the U.S. due to limited supply and increasing demand. The Sherman-Denison metro area in Texas, an area in which Wisdom Homes maintains an operating presence, was reported as the fastest growing region in U.S., with 33% growth in the first quarter of 2015. However, the article also cautioned about housing affordability concerns as a result of those rising prices. As previously announced, Wisdom Homes has secured the rights to purchase and improve 26 lots in Sherman, Texas with the necessary infrastructure — water, sewer, power, pad, foundation, and driveway — and place manufactured homes for sale on those lots.
“The recent Wall Street Journal article addressed two issues that are material to Wisdom Homes’ business model,” stated Wisdom Homes CEO, Mr. Jim Pakulis. “First, the rate of growth in the geographic areas in which we are located, specifically north and north-east Texas, are experiencing a surge in real estate sales as well as escalating real estate prices. Secondly, the article addresses a major ongoing concern affecting potential home buyers — affordable housing. We believe that Wisdom Homes is perfectly positioned to take advantage of the dynamics highlighted in the WSJ article.”
“With our 26 available lots in Sherman, Texas, on which we will place manufactures houses, we are selling into a very strong market, where demand is strong and the need for affordable housing is even stronger. By delivering a high quality, yet low cost manufactured housing product on our improved lots, we believe the Company will be very successful while also satisfying this pressing need,” concluded Mr. Pakulis. “We believe the land-home package model that Wisdom Homes is creating will be successful and we anticipate being able to duplicate that model as we continue to grow.”