SearchCore, Inc., a manufactured housing retail center who operates through its subsidiary, Wisdom Homes Of American Inc., has announced that it will be acquiring residential lots in efforts to provide a solution to the housing demand in Texas.
The company will be acquiring 15 residential lots in the Tyler, Texas area. The lots will range in size from a quarter to a half-acre. Wisdom Homes anticipates having all, if not a majority, of the lots sold within 90 days.
CEO Jim Pakulis commented on the purchase of the new lots:
There’s an explosive growth taking place in the oil and gas sectors in Texas, and we are positioned to address this increasing housing demand by offering a complete manufactured home package deal whereby our goal is to significantly reduce the time it takes to move workers and their families into homes and get them to the job sites as quickly as possible.
According to the “State of Energy Report” by the Texas Independent Producers & Royalty Owners Association, jobs in Texas’ oil and gas industry increased by 23,100 in 2013 compared to 2012, which gives Texas total of 411,600 oil and gas industry jobs.
With the increase in employment, the demand for manufactured homes has increased. According to the Manufactured Housing Research Report by Marcus & Millichap, there has been a large demand in the Eagle Ford Shale and Barnett Shale areas in Texas.
President of Wisdom Homes of America, Inc., Brent Nelms, commented on the company’s acquisitions:
By significantly decreasing the time to close a manufactured home sale while still providing a beautiful and affordable home on a large tract of land, we believe that we are offering workers and their families an attractive solution to the housing shortage while providing a valuable service to the oil and gas industry of Texas.