CNNMoney has selected several cities where the housing market looks brighter than in other cities for the coming year. Oklahoma City has an unemployment rate of just 5.3 percent as of Nov., 2013, and home values have declined a mere one percent since 2009. Trulia reports 75 percent of homes …
Five U. S. Cities with Expected Top Housing Market Growth Read More
Stocks were little changed in today’s trading, although the Dow posted its 51st record close of 2013, as all three major indexes celebrated dramatic gains for the year. CNNMoney reports the Dow Jones Industrial Average edged up +25.88 points, +0.16 percent, to close at 16,504.29. The Nasdaq lost -0.06 percent, …
Dow Posts another New High; Sun Communities Nudges above the Tracked Stocks Horizon Read More
While a Bloomberg survey of economists predicted a one percent increase in pending home sales for November, the National Association of Realtors (NAR) reports the gain was 0.2 percent, the first in six months following a 1.2 percent drop in October. According to nationalmortgagenews, higher borrowing costs, tight lending standards …
As national elections loom in New Zealand, boosting the country’s housing stock is becoming a major battleground issue, according to stuff.co.nz. While both major parties agree more affordable housing is needed, their solutions differ. The Labour party’s approach is the government funding of 100,000 homes over the next ten years, …
Architect Christian Salvati is converting 16 shipping containers into six modular apartment units in New Haven, Connecticut, mounted on nine-foot pilings which allows for parking underneath. According to what Salvati tells nhregister.com, this will be the largest apartment building in the U. S. constructed of Cor-Ten steel. While the use …
Modular Dwellings Constructed from Shipping Containers Read More
With the extension of long-term benefits for the unemployed still in abeyance in Congress, the California Employment Development Department (EDD) has notified 220,000 recipients of long-term benefits that their aid will end in two weeks. This prompted Keep Your Home California to remind homeowners under the Unemployment Mortgage Assistance Program …
California Offers Assistance Paying Mortgages to Long-Term Unemployed Read More
According to the Philadelphia Federal Reserve, new residential building permits rose significantly from November 2012 to November 2013 in Delaware, New Jersey and Pennsylvania. Compared to the same month period in 2012, the growth in all three states was in double digits, as housingwire.com tells MHProNews. While permits were 21 …
Residential Building Permits Rise in DE, NJ and PA Read More
Following a story MHProNews posted Dec. 10, 2013 regarding an increased sales tax that will be imposed on manufactured and modular homes sold in North Carolina, charlotteobserver.com reports the tax is being raised to 4.75 percent Jan. 1. The industry is slowly recovering from a slowdown exacerbated by the Great …
Sales Tax on Manufactured Homes Rises in North Carolina Read More
Predictions for 2014 from nationalmortgagenews.com forecast home sales will rise from 5.5 million this year to 5.9 million in 2014, home price appreciation will drop from 11 percent to six percent in 2014, and the 30-year mortgage rate will rise 50 basis points to five percent. The purchase-refinance loan origination …
Investors took a break at the end of a strong week and a most bountiful year on Wall Street as all three major indexes slid a quarter of a point or less. CNNMoney reports the Dow Jones Industrial Average edged down -1.47 points, -0.01 percent, to close at 16,478.41. The …
Skyline Rises, Patrick Falls; Dow, Nasdaq, S&P End Week Up Read More
According to nationalmortgagenews.com the average weekly rate for a 30-year mortgage is two basis points under 4.5 percent, making it just above one percent higher than one year ago. For a 15 year mortgage, the average rate is two basis points above 3.5 percent, making the mortgage rate just under …
30-Year and 15-Year Mortgages Slightly Above One Year Ago Read More
Following up on a story MHProNews posted Oct. 9, 2013 regarding a housing plan for Estevan, Saskatchewan, Canada, modular homes will begin to be sited in early 2014, ready to be occupied by mid-January. Phase 1 of the Ridge subdivision has 85 lots, 60-65 of which have been sold to …
Modular Homes Sold in Estevan, Saskatchewan Development Read More
Acting Federal Housing Finance Administration (FHFA) Director Edward DeMarco announced the day before incoming FHFA Director Mel Watt was approved by the Senate that he intended to raise certain GSE (government-sponsored enterprise) fees in early 2014. He says this will entice more private lenders back into the mortgage market and …
Incoming FHFA Director Mel Watt to Delay Mortgage Fees Read More
While most of the modular homes in Australia are for coastal and rural retreats, more architect-designed, multi-million-dollar prefabricated homes are being trucked 500 to 600 miles and craned into place, sometimes costing over $100,000 just for transport. While the prefab market in Australia is relatively immature, representing only about one …
A one-time drug dealer who built a profitable music business from his illegal gains and served three years in prison has rebounded back into the music business, very successfully, and is now promoting a modular home production facility that will revitalize a distressed community, according to post-gazette.com. Lee Davis cut …
Former Felon Bringing Modular Home Business to Neighborhood Read More
Schaeffer’s Investment Research reports the Dow has gained 68 percent of the time each Christmas week for the last 100 years, and this year is no exception, as Santa continues to deliver good news to investors. CNNMoney reports the Dow Jones Industrial Average gained 122.33 points, +0.75 percent, to close …
Patrick Industries Advances; Santa Continues Delivering to Investors Read More
The new developer of Georgetown Estates in Georgetown County, South Carolina has requested his proposal to alter the content of the development to include factory-built homes be put on hold by the county planning commission. The original plan included 214 single-family and patio homes on lots ranging from 6,000 square …
While lenders who make qualified mortgages that must conform to certain criteria have greater legal protection than those loans that do not, the Consumer Financial Protection Bureau (CFPB) published a factsheet that states, “We will stand with borrowers and homeowners to ensure financial institutions treat them properly. Borrowers who fall …
Home prices rose 0.5 percent in October over the previous month, according to nationalmortgagenews.com, as prices climbed 8.2 percent year-over-year, based on data from the Federal Housing Finance Administration (FHFA). Investors have reduced the inventory of distressed properties as mortgage rates rise, and gains in employment are attracting more home …
Traditional Home Buyers Returning to Market as Investors Leave Read More
Following up on a story MHProNews posted Dec. 24, 2013 regarding a family in Kansas who requested a variance to allow them to temporarily site a manufactured home on their property while their fire-damaged home was rebuilt, the request was approved, according to cjonline.com. Randall and Monica Rose and their …
County Commission Approves Manufactured Home Request Read More
