MHProNews has learned from the National Association of Home Builders (NAHB) reports that production of single-family homes and apartments rose in November 9.3 percent to a seasonally-adjusted annual rate of 685,000 units, the highest pace since October 2008. The primary impetus from the increase came from the multifamily sector which …
Multifamily Building Outpaces Single-family Home Construction Read More
MHProNews has learned that theMHARR Board officials and staff met on December 14, 2011 with Government National Mortgage Association (GNMA) President Theodore W. Tozer to discuss the securitization requirements that have limited FHA (Federal Housing Administration) Title I manufactured housing loans. Currently, GNMA requires a minimum net worth of $10 …
MHProNews has learned from the National Association of Home Builders (NAHB) that builder confidence in the market for new, single-family homes rose for the third month in a row. This marks the first time that has happened since mid-2009, bringing the NAHB/Wells Fargo Housing Market Index (HMI) to 21, its …
In a follow-up to a story we last reported on Nov. 2, 2011, IslandPacket reports from Bluffton, South Carolina, the six modular homes designated as affordable housing are nearing completion and should be available for prospective homebuyers to tour the new homes in January. Twenty applications have been received from …
CNNMoney reports the Dow Jones Industrial Average dropped steadily during the trading day as investors continue to fear the impact of the Eurozone debt crisis on the global banking market. The Dow fell -100.13 points, -0.84 percent, to close at 11,766.26. The Yahoo! Finance Manufactured Housing Composite Value lost 2.10 …
Euro Debt Crisis Looms over Dow as MH Composite Drops Read More
Following up on a story from Dec. 6, 2011, Daily-Times reports from Farmington, New Mexico, the San Juan County Commissioners passed an ordinance requiring new MHC and RV developments to have their waste systems approved by the New Mexico Environment Department (NMED). Dennis McQuillan, Liquid Waste Manager with NMED, says …
MHProNews has learned from PR Newswire that New Jersey-based UMH Properties, Inc., has acquired City View manufactured housing community in Lewiston, Pennsylvania, for $750,000. The 59 home site community is situated on 22 acres in south central PA. Samuel A. Landy, President, stated, “We are pleased to announce the acquisition …
ThePostandCourier tells MHProNews the Southern Palms MHC in Ladson, South Carolina, just north of Charleston is promoting Cottage homes of 1,056 to 1,400 square feet for vacationers and those seeking smaller dwellings. Owned by Jensen Communities of Connecticut, which operates 30 MHCs in eight states, the age 55-plus community offers …
MHProNews.com has learned the U.S. Department of Housing and Urban Development (HUD) has issued an announcement asking for nominations, with approval of the Secretary, to serve on the Manufactured Housing Consensus Committee. Consensus Committee members serve for a three-year term up to two terms. The 21 voting members are appointed …
MarketWatch reports real estate investment trust (REIT) Sun Communities, Inc., announced its board of directors declared a dividend of $0.63 a share for the fourth quarter 2011. Payable Jan. 20, 2012, Sun has 21.8 million shares outstanding. The company owns and operates 156 manufactured housing communities with 54,000 sites. The …
Origination News says a bi-partisan Congressional effort to increase the guarantee fees, or “g-fees,” that Fannie Mae and Freddie Mac charge lenders will level the playing field so private lenders can return to the mortgage market. “Private secondary market investors are starving for yield, and raising the g-fees to a …
CNNMoney reports claims for jobless benefits fell to a three-year low, inching the Dow Jones Industrial Average up 45.33 points, +0.39 percent, to close at 11,868.81. Continuing fears about the Eurodebt crisis kept the Dow from advancing further. The Yahoo! Finance Manufactured Housing Composite Value gained nearly the same percentage, …
Dow Edges Up; Skyline, UFPI most Active of Tracked Stocks Read More
Mlive reports a blueberry farmer wants a special permit to house 17 migrant laborers in an 1,820 square foot modular home in Port Sheldon Township in Ottawa County, Michigan. Opponents say it will hurt property values and increase the risk of crime. Someone anonymously distributed fliers in the area that …
Following up on a story we published Nov. 14, 2011, OmahaWorld-Telegram reports the oil boom in North Dakota continues to have positive repercussions for area MH producers. The York, Nebraska, Champion Home Builders plant has doubled its production staff since summer to 150, and intends to hire another 50 early …
North Dakota Oil Boom Drawing Midwest MH Producers Read More
Input from manufactured home owners, community operators, and the public at large is sought on the issue of alternative manufactured home placement outside MHCs, according to MySunshineCoast in Australia. Housing Minister Karen Struthers, speaking at the Manufactured Home Owners Consumers Forum, suggests participants weigh in on the recently released discussion …
HousingWire reports Zillow says home values declined in October 0.3 percent from the previous month. Home values have declined 23.7 percent since 2007, and on a year-over-year basis, the Zillow home value index fell 5.1 percent to $147,900. On a regional basis, of the 156 metropolitan statistical areas covered by …
NationalMortgageNews reports Republican Senators want the Obama administration to more forcefully strengthen the Federal Housing Administration (FHA) before confirming Carol Galante to head the agency. They also seek a plan for dealing with GSEs (government -sponsored enterprises) Fannie Mae and Freddie Mac. Sen. Jim Demint, (R-SC), leveling charges at Ms. …
Galante’s Nomination to Head FHA Sent to Full Senate Read More
Following up on a story we published Nov. 28, 2011, MontgomeryAdvertiser reports Federal Judge Myron Thompson issued an injunction Monday against part of the Alabama immigration law that prevents undocumented aliens from entering into any type of business transaction with the state. He called the law “discriminatorily based.” The injunction …
Judge Calls Alabama Immigration Law Discriminatory Read More
CNNMoney reports the Dow Jones Industrial Average rallied well during the day, but dropped upon word the Federal Reserve did not lower interest rates, and Germany’s chancellor rejected the idea of a larger bailout. The Dow lost 66.45 points, -0.55%, closing at 11,954.94. The Yahoo! Finance Manufactured Housing Composite Value …
According to the News-Journal, a one thousand acre site in Ormond Beach, Florida, is once again rankling feathers. Turned down ten years ago as an MHC, $150,000 homes were supposed to be built, but none were. The developer has returned asking for an amendment to the agreement with Volusia County, …
