UMH Properties, Inc. reports total income for the first quarter of 2014 rose to $15,849,000 from $13,426,000 for the same period of 2013, resulting in income of $6,559,000 in 2014 over $5,695,000 in 2013, according to marketwatch.com. Based in Freehold, New Jersey, the company reports core funds from operations attributable …
UMH Properties Reports Income Increase for First Quarter 2014 Read More
Killam Properties, Inc. of Halifax, Nova Scotia, Canada, in announcing its financials for Q1, 2014, reports while property revenue rose to $35,065,000 in 2014 from $33,249,000 in the same period of 2013, net operating income fell -3.0 percent from $18,166,000 in the first quarter of 2013 to $17,620,000 in the …
Killam’s Earnings per Share Nudge down in First Quarter 2014 Read More
Electric Cooperatives of Arkansas is sponsoring their annual Energy Efficient Makeover Contest for an Arkansas electric cooperative member who owns an all electric manufactured home. Valued at up to $50,000, contestants must be a member of the cooperative in good standing, submit an image of their manufactured home and answer …
$50,000 Energy Efficiency Upgrade Awaits Manufactured Home Resident Read More
The Senate’s Johnson Crapo measure to reform housing finance and eliminate Fannie Mae and Freddie Mac was scheduled to be marked up at the end of April, as MHProNews reported April 29, 2014, but was held up so the bill could pick up steam and garner more support. Instead, the …
Mark-Up of Senate’s Johnson Crapo Housing Finance Reform—DOA? Read More
RealtyTrac reports for the first three months of 2014, 43 percent of all home sales were cash deals, up 19 percent from a year ago, and the highest level since the analysis company began tracking cash sales in early 2011. Cash buyers are more attractive to sellers due to quicker …
The Dow Jones Industrial Average rose initially following Fed Head Janet Yellen’s remarks to the Senate, but settled back to a modest gain of 32.43 points, +0.20 percent in today’s trading to close at 16,550.97. The tech-heavy Nasdaq slipped -16.17 points, -0.40 percent, to end the day at 4,051.50, while …
Dow Posts Modest Gain; Patrick Industries Drops 3.39% Read More
The National Association of Home Builders (NAHB) reports their most recent single-family 55+ Housing Market Index (HMI) is up the first quarter of 2014 to 50, the highest Q1 reading since the survey of builders’ confidence began in 2008. It is also the tenth consecutive quarter of year over year …
Writing in the Opinionator section of The New York Times, Andrea Levere says 18 million people with an average median income of $30,000 live in factory-built housing, making it the largest source of unsubsidized affordable housing in the U. S. Although over 70 percent own their own homes, most who …
New York Measure Seeks Financing Parity for MH and Site-built Read More
In a split vote, the Neighborhood Conservation District Committee (NCDC) of New Orleans approved the demolition of two houses on the campus of the Lusher Charter School to be replaced with temporary modular units for student housing. MHProNews.com has been informed the site would then become green space. One committee …
Federal Reserve Chair Janet Yellen is optimistic about the U. S. economy as a whole, but expresses caution about the housing market, noting it has been a key part of the recovery since 2011 but has fallen short this year, according to CNNMoney.com. Noting that warmer weather may not be …
Federal Reserve’s Janet Yellen Concerned about Housing Market Read More
Mike Taylor of Pacific Manufactured Homes in Beaumont, California says the mix of those buying manufactured homes is shifting from first-time buyers to vacation or second-home buyers and to people downsizing who may be looking to retire. The California Manufactured Housing Institute (CMHI) reports 70 percent of the sales are …
The Dow Jones Industrial Average gained over 100 points in today’s trading as Blue Chip stocks performed well, while the tech-heavy Nasdaq had the blues, slipping -13.09 points, -0.32 percent, to end the day at 4,067.67. CNNMoney tells MHProNews the Dow gained -117.52 points, +0.72 percent, to finish the day …
Skyline Corp. Falls, Berkshire Hathaway Gains the Most of Tracked Stocks Read More
Following a story MHProNews last posted May 5, 2014 regarding ongoing problems at Meadowbrook Park manufactured housing community (MHC) in Richmond, Maine, the state’s Manufactured Housing Board (MHB) unanimously voted to revoke the license of owner Russ Edwards after chastising him for poor management of the community going back to …
License to Operate Manufactured Housing Community Revoked Read More
The Ohio Manufactured Homes Association (OMHA) presents the “Showcase of Factory Built Homes” at the MAPS Air Field and Museum in North Canton, Ohio, May 16, 17 and 18. Featuring 20 fully furnished and landscaped homes representing 14 factory built homebuilders. The 45 indoor exhibitors will include lenders, MH communities, …
HUD Code & Mods Featured at Eastern Ohio Home Show Read More
The city council of Hayward, California has approved a new measure regarding the closure of manufactured home communities (MHC), according to contracostatimes.com. The new guidelines would require the owner to pay the full relocation costs of the home, including installation expenses, lodging during the move, as well as first and …
City Imposes Stiff Measures on Closing a Manufactured Home Community Read More
In January 2014, interim managers at Lexington, Washington’s Tim Wa Estates manufactured home community (MHC) banned a group of residents, called Helping Hands, from assisting elderly and ailing neighbors with household chores and minor repairs, citing the community’s anti-soliciting rules. MHProNews.com has learned from tdn.com in April, managers began requiring …
Managers Removed from Tim Wa Estates MHC in Washington Read More
Homark Homes of Red Lake Falls, Minnesota is investing $6 million to expand its construction of modular and manufactured homes to include multifamily modular housing. The Minnesota Department of Employment and Economic Development will assist with the expansion of the facility to the tune of $456,000, providing Homark creates at …
Homark Homes Expanding to Include Multifamily Modulars Read More
Seattle, Washington businessman Walter Tarr is building a five-unit modular apartment complex near the University of Texas in Austin, his alma mater. As bizjournals.com informs MHProNews.com, each 1,300 square-foot unit will have three bedrooms and a den, with average rent of $3,000 monthly, built by Palomar Modular of DeSoto, Texas. …
A proposal before the Affordable Housing Committee in Bluffton, South Carolina would replace 24 pre-HUD Code homes with new modular homes, ranging from a one-bedroom, 600 square foot home to a four bedroom model with 2,000 square feet. According to islandpacket.com, prospective owners could make no more than 120 percent …
The three major indexes all took a tumble today, the Dow Jones Industrial Average falling well over 100 points. CNNMoney tells MHProNews the Dow dropped -129.53 points, -0.78 percent, to finish the day at 16,401.02, while the Nasdaq fell -57.3 points, -1.38 percent, to end the day at 4,080.76. The …
Skyline Corp. Advances, Cavco Drops, Nasdaq Loses 1.38% Read More
