This site is designed to be easy to navigate and to offer a variety of services and resources to our clients and customers. Whether you are searching for a home site, a manufactured home community, the latest industry news, legislative updates, manufactured home financing or insurance, or a home to purchase, www.cwres.com will rapidly and efficiently connect you to the best source for help. Special thanks go to Donna Kent of DK Marketing (www.donnakent.com) for designing and implementing the site. If you need a website designed or other marketing assistance, Donna is great and has many years of manufactured home-related marketing experience.

The production of new manufactured homes in the Pacific Northwest is on the rise, which is great news for all of us. In August 2002 we experienced a 29% increase in HUD Tag purchases by manufacturers in Oregon, a leading indicator of order backlogs and production expectations for the following months. Additionally, retailers are reporting increased customer traffic and sales, perhaps related to the latest flight of NW Pride industry TV commercials on regional television. I have personally seem many of the spots on Seattle Mariner's broadcasts on Fox Sports, as well as early morning local news shows. These commercials are very effective and continue to shine a positive light on our industry, the product itself, and the affordable, energy-efficient lifestyle you can enjoy living in a manufactured home.

The Freddie Mac conforming loan program for manufactured homes in leasehold communities continues to build momentum, especially in Washington State where the program is underway, as all of the "pieces of the puzzle" seem to be in order. Many community owners are still very skeptical of the language in the Freddie Mac-approved lease, specifically those clauses that greatly limit the owners right to terminate the lease, and some of the language related to future increases and expense pass-through. Regardless of whether individual community owners choose to take part in this program or not, we will continue to support the program in concept and work with the Oregon and Washington industry associations to streamline the process, so that the program is available for those who wish to participate in it. We are so desperate for additional sources of financing for homes in rental/leasehold communities it's hard to turn your back on any possible source, even if it is restrictive in some of it's covenants.

At the Oregon Manufactured Housing Association (OMHA) meeting in Salem, Oregon on September 18th I was elected President of OMHA. I have been an active board member for many years, and it is an honor to be elected to this position. I believe very strongly in what OMHA stands for, and my increased involvement in this organization will be of great benefit to Commonwealth's clients and residents. Any time you have a chance to be in a position of influence and at the pulse of the industry it is a terrific opportunity. OMHA is a 34 year old organization with strong leadership, a good relationship with governmental agencies, and a powerful voice in the Oregon legislature. Representing manufacturers, finance companies, retailers, park owners, land developers, contractors, insurance companies and suppliers, this diverse and experienced group is a great place for us to be seen and heard. Staying closely involved with those that can have the biggest impact on filling our communities with new homes is critically important to our
future. I am looking forward to the challenge, and will keep you informed as to our progress.

Greg Harmon - President
Commonwealth Real Estate Services
E-mail: greg@cwres.com
Telephone 503.244.2300 Ext. 101