MHProNews has learned from HousingWire housing analyst firm RealtyTrac reports foreclosure activity rose to 1.5 million in the first quarter of 2013, nine percent more than the same period in 2012, but considerably less than the peak 2.2 million in December 2010. Daren Blomquist, vice president at RealtyTrac, says, “Delinquent …
InsiderMonkey reports UMH Properties (NYSE:UMH) generates an average of $391 for each of its 10,644 homesites. With vacancies around only 20 percent, involvement in manufactured homes sales and rentals, and no exposure to commercial or retail properties, it is wildly profitable. Although it is considered a small-time real estate investment …
KeyNews reports from Key West, FL the 44 factory-built homes that comprise the Old Town community may soon be replaced with two and three-bedroom stick-built or modular townhomes. Southernmost Cabana LLC bought the property from the Archdiocese of Miami in 2009 for $2.4 million and has submitted preliminary plans that …
Investors were cautious in trading today as they await the re-opening of banks in Cyprus that have been closed since March 16, resulting in mixed stocks on U. S. markets. CNNMoney reports the Dow Jones Industrial Average moved down -0.23 percent, -33.49 points, to close at 14,526.16. The Nasdaq gained …
Patrick Re-Gains Lost Ground; Cyprus Continues to Worry Investors Read More
InsideIndianaBusiness informs MHProNews that Lippert Components, Inc. (LCI) of Goshen, IN has hired Frank Perna as vice president of operations for manufactured housing windows. A 25-year veteran of the vinyl and aluminum window industry, Perna has been with Silver Line Building Products LLC, a division of Andersen Windows. He will …
Governor Andrew Cuomo has proclaimed April 27 – May 5, 2013 as Factory-Built Home Days across New York State, coinciding with the New York Housing Association’s 2013 Spring Symposium and Legislative Summit April 30-May 1 in downtown Albany, NY. In his proclamation, the governor states manufactured housing is a source …
Over 2,000 retailers, community owners/operators, builders/developers, installers, factory builders, lenders, suppliers, association leaders and exhibitors will be in Tunica, MS for the largest industry trade show of 2013. Dozens of the latest models including developer and community series homes will be on display. Attendees will range from the rank and …
DNAinfo informs MHProNews the third in a series of Hurricane Sandy Recovery Workshops took place March 26 in Staten Island, with representatives from the mortgage industry, an architect, and a flooring specialist on hand to educate attendees. Topics included modular homes, restoring damaged credit, and loan and grant options available. …
According to lehighvalleylive residents of Greenbriar Valley manufactured housing community (MHC) in east-central Penn. allege owner Equity LifeStyle Properties, Inc. (ELS) is unjustly raising their rents and they are seeking protection, as they approach April 18 when rents for the 319 site community will rise again. One residents says his …
According to EarthTechling, Panoramic Interests is developing a LEED Platinum, 23 modular- unit housing development in a building in San Francisco with solar water heating, low flow faucets, water cachement and other green features packed into 295 square foot units with natural light and ventilation. The 16 modules were built …
Better-than-expected news on the housing market and durable goods orders pleased investors as the Dow topped 100 points and the other two major indexes gained as well. CNNMoney reports the Dow Jones Industrial Average moved up +0.77 percent, +111.90 points, to close at 14,559.65. The Nasdaq gained +0.53 percent, 17.18 …
Dow Gains 100+ Points; Tracked Housing Closes Mixed Read More
According to what cjonline tells MHProNews, the Kansas House of Representatives passed SB 74 that restricts prison programs in which inmates build modular homes, with proponents saying the correctional system should not compete with private enterprise. The vote was 87-32 in favor of the restriction. An amendment to permit the …
According to nationalmortgagenews the sale of new single-family homes dropped in February 4.6 percent from January on a seasonally-adjusted annual rate (SAAR) to 411,000, although last month’s sales still rose 12.3 percent over February 2012. The seasonally adjusted number of new homes available at the end of February hit 152,000, …
MHProNews has learned from PRWeb that modular builder ATCO Structures & Logistics was honored several times at the Modular Building Institute (MBI)’s 2013 Awards of Distinction. First place in the permanent modular commercial housing category was for MEG Energy Pirate’s Cove Lodge near Christina Lake that is as much resort …
Reuters informs MHProNews despite the tightness of credit for residential mortgages, the housing market is threatening to take the lead from manufacturing in terms of overall economic activity, as home prices posted their largest year-over-year gain in six and-one-half years in January. While core durable capital goods orders (non-defense and …
According to nationalmortggenews, Lender Processing Services (LPS) informs MHProNews home prices in January, 2013 rose 0.3 percent from the previous month. In its survey of 15,500 zip codes, the Home Price Index (HPI) rose 6.7 percent from January 2012. The largest month-over-month gain was 1.6 percent in Georgia, while the …
U.S. stocks slipped in today’s trading as investors expressed concerned about the financial crisis in Cyprus and how that might affect the ongoing troubles in Eurozone countries. CNNMoney reports the Dow Jones Industrial Average dropped -0.44 percent, -64.28 points, to close at 14,447.75. The Nasdaq fell -0.30 percent, -9.70 points, …
Major Indexes Nudge Down; Tracked Housing Stocks Mixed Read More
Updating a story we covered Oct. 16, 2012 concerning the federal court-ordered closing of Duroville, an MHC in the Coachella Valley in California, and home to some 4,000 mostly migrant workers, 70 of the families have been relocated to Mountain View Estates, a government-subsidized development of 181 new modular homes, …
RuralHome.org informs MHProNews the Corporation for Enterprise Development (CFED), a non-profit dedicated to expanding opportunity for low-income families and communities in the U. S., reports manufactured home borrower repayment records are comparable to site-built mortgage borrowers, and in some cases were better than comparable general mortgage portfolios. CFED’s report, Toward …
Strong Loan Performance from Manufactured Home Mortgages Read More
ZolmaxNews reports Sun Communities, Inc. (SUI) of Southfield, Mich. says it will pay a quarterly dividend of $0.63 per share on Friday, April 19 to investors of record April 1, 2013. Representing a $2.52 annualized dividend, the dividend yield is 5.29 percent. BMO Capital Markets, commenting on the stock, upgraded …
