HousingWire says real estate guru Trulia tells MHProNews the housing industry is 51 percent back to normal, four percent better than last month. Trulia’s barometer is based on construction starts, existing home sales, and delinquencies combined with foreclosures compared to the worst point to the housing crisis. Housing starts were …
While Republicans and Democrats continue squabbling over the impending fiscal cliff, the Mortgage Forgiveness Debt Relief Act of 2007 is due to expire at the end of the year, which would cause homeowners to begin paying taxes on the part of their mortgage that is forgiven in a short sale, …
Letting the Act Expire Could Cost Underwater Borrowers Read More
U.S. stocks dropped in a short trading session before the Christmas holiday today as fears persist the president and Congress will not resolve the fiscal cliff crisis before the year’s end. CNNMoney reports the Dow Jones Industrial Average fell -0.39 percent, -51.76 points, ending the day at 13,139.08. The Nasdaq …
The Department of Housing and Urban Development (HUD) announces it has awarded $26 million in grants to the owners of non-profit owners of multi-family housing developments to convert their units into dwellings outfitted to accommodate the needs of the elderly seeking to age in place. With funding from HUD’s Assisted …
The Freedom of Information Act (FOIA) request the Manufactured Housing Association for Regulatory Reform (MHARR) filed to obtain some 1,000 pages of material relating to HUD’s in-plant expansion regulations initially prompted HUD to respond with a cost over $25,000 paid beforehand to process the request. MHARR challenged HUD to produce …
Updating a story we ran Dec. 12, 2012 concerning Sun Communities, Inc.’s acquisition of 11 Morgan RV Resorts for $135 million, one of the properties is Peters Pond RV Resort in Sandwich, Mass. which has had some recent troubled times. Cape Cod Times tells MHProNews Morgan’s principal, Robert Moser, and …
Casa Grande Dispatch says Sun Communities, Inc. is acquiring Palm Creek Golf & RV Resort in Casa Grande, Arizona from the Wolfswinkel family, who started the community more than 13 years ago. In a letter to residents, Ashton Wolfwsinkel says, “We believe that this is in not only the best …
CNNMoney reports data for November, 2012 from the U.S. Commerce Dept. says personal income rose 0.6 percent during the month while spending increased 0.4 percent and the rate of savings moved up from 3.4 percent in Oct. to 3.6 percent in Nov. While Hurricane Sandy led to a drop in …
Although the three major indexes closed up for the week, they all dropped just under one percent over nagging concerns abut the fiscal cliff the country gets closer to each day. CNNMoney reports the Dow Jones Industrial Average fell -0.91 percent, -120.88 points, ending the week at 13,190.84. The Nasdaq …
WDSU-TV tells MHProNews a manufactured home was blown onto Interstate 10 in southern Louisiana at the foot of the Twin Span, a major thoroughfare over Lake Pontchartrain that connects New Orleans and Slidell, LA. The driver said he was coming down off the bridge when a huge gust of wind …
ConstructionWeekOnline tells MHProNews Hawthorn Brook Group, which originally specialized in producing horse stables, is now also focusing on modular housing, and received its first contract in the region in Bahrain through its association with the Gulf Cooperation Council. Hawthorn’s Brian Fox says, “ Our products have a potential energy saving …
Capeazettevillagesoup says First State Manufactured Housing is once again offering $2,000 college scholarships to Delaware students who have lived in a manufactured home for over one year. Applicants will be judged on scholastic record, financial need, a 500 word essay and personal recommendations, and must file the Free Application for …
According to the National Association of Realtors (NAR), the annual pace of 5.04 million existing homes sold in Nov. 2012 exceeded experts prediction of 4.9 million, and rose above the 4.76 million sold in Oct. and the 4.39 million in Nov. 2011. CNNMoney says it was the highest level since …
According to originationnews, for the week ending Dec. 20 Freddie Mac says the average rate for a 30 year fixed-rate mortgage (FRM) rose by five basis points to 3.37 percent while the average 15-year FRM dropped one point to 2.65 percent. The average rate for a five-year Treasury-indexed hybrid adjustable …
Following a complaint by neighboring property owners that a manufactured home has been sited on a lot next to another home designated for one single-family home, the SapulpaHeraldOnline reports the Creek County Board of Commissioners in Oklahoma has authorized a letter be sent to the owner of the MH notifying …
SBWire reports from Texas more people are looking at modular homes than they did in 2011 in the Lone Star state. Modular Homes Network (MHN) says eight percent more than last year inquired about modular homes as an option. Although interest was up over all the state, the greatest concentration …
U.S. stocks moved slightly higher today even as the White House and Congress seem to be at loggerheads in trying to resolve the fiscal cliff problem. CNNMoney reports the Dow Jones Industrial Average gained +0.45 percent, +59.75 points, ending the day at 13,311.72. The Nasdaq moved up +0.20 percent, +6.02 …
Nationalmortgagenews reports the national value of homes remains $5.8 trillion short of the $29.5 trillion peak from the third quarter of 2006, according to home-listing service Zillow Inc. As the housing market recovers from its worst slump in 75 years, house values advanced six percent this year, the first increase …
CrainsCleveland reports Freehold, New Jersey-based UMH Properties has acquired 125-site Olmsted Falls MHC in the southwestern suburbs of Cleveland, Ohio for $3.6 million. The 14-acre property in Olmsted Falls marks UMH’s second MHC acquisition this month just outside Cleveland. As MHProNews reported Dec. 4, 2012, it purchased 141-site Twin Oaks …
LowerProvidencePatch reports the Southeastern Pennsylvania American Red Cross delivered emergency preparedness and fire safety literature to 440 residents of four MHCs in Lower Providence Township, northwest of Philadelphia. Students at St. Gabriel’s Hall helped assemble the plastic bags containing the information which notes manufactured homes nationwide annually account for 17,700, …
