Ingenia (ASX:INA) purchased two immediately earnings-accretive Manufactured Home communities in Mudgee, New South Wales, for $11.2 million. The Mudgee Valley MHC will be acquired for $4 million, which has an 8.8% trailing yield, and unlevered internal rate of return (IRR) exceeding 20%. The second purchase is the Mudgee Tourist and Van …
Gold and oil rose, as stocks slid for the last two days and for 8 out of the last 10 sessions. CNN Money tells MHProNews that issues such as a possible U.S. attack on Syria, ObamaCare’s increasingly obvious impact on business, the looming federal debt ceiling/CR and jitters over the …
Syria, ObamaCare, CR and FED jitters continue to fuel Dow’s slide Read More
One of the eight 2013 Research and Design award selections by Architect Magazine in the ecoMOD Project was from the University of Virginia (UVa). The home was chosen as an example for “low-impact, energy-efficient housing units.” The ecoMOD Project aims at sustainable residential design for low- to moderate-levels, using prefab …
Architect dubs UVa ecoMOD project selection a winner Read More
Sounding off in the respected Huffington-Post, Wake Forest Law School Professor Tanya Marsh writes that: “First, the mega banks are just fine.”…”Second, community banks are definitely not fine.” and “Third, consumers are the big losers.” Marsh states that “In the second quarter of 2013, Bank of America saw a 63% increase in …
A recent report by the Consumer Financial Protection Bureau (CFPB) agency found some servicers are “sloppy” about transferring paperwork when loans are sold, misapply payments and occasionally cause homeowners to pay their property taxes late. AOL’s realestate tells MHProNews that “Today’s report highlights both the mortgage servicing problems throughout the industry …
CFPB’s Cordray: “Fixing” sloppy service by non-banks “is a priority for us” Read More
The Senate Banking Committee is developing housing finance reform legislation introduced in the Senate (S. 1217) by Bob Corker (R-TN) and Mark Warner (D-VA). Senate Majority Leader Harry Reid (D-NV) has indicated he opposes the plan abolishing the GSEs, asserting it would become too difficult for many to purchase a …
Reid Opposes GSE reforms, clouding future of effort Read More
Questions about the timing of the FED’s QE bond buying, coupled with concerns that the U.S. may become involved in Syria’s civil war caused investors to pull back, CNN Money told MHProNews as the Dow slid to a close of 14,946.46, down -64.05 (-0.43%). Meanwhile, the Yahoo! Finance Manufactured Housing Composite …
FED’s QE plans, Syria spook investors, stocks slide, but MH composite rises Read More
Two tea party Republicans serving on the Wilton Republican Committee are part of what may be an re-emerging pattern within the ranks of the party. Not unlike the 2010 Tea Party revolution that brought dozens of Republicans into the House of Representatives, local candidates Rob Arrigo and Elaine Gerber are …
Tea Party Republicans challenging Incumbents over SAFE Act, Constitutional issues Read More
A letter to the editor of the ukiahdailyjournal by Judy DeBeni, a resident of Lake Mendocino Mobile Home Estates, in Ukiah CA brings to light an issue that goes well beyond her land lease community. DeBeni writes: “Sue Everett, in her letter of Aug. 7, claims to represent the residents …
CA MHC resident says ‘Home Owners Association’ doesn’t speak for her or Residents Read More
MaineHousing’s tells MHProNews about their pre-1976 Mobile Home Replacement Initiative, which provides income-eligible Maine residents with an opportunity to replace the pre-1976 mobile home they own and occupy as their primary residence with a new Energy Star-certified manufactured home. The initiative combines an amortizing, interest-bearing MaineHousing mortgage loan with a $30,000 …
Residents of Fox Point manufactured home community in Wheeling, IL protested the town and FEMA’s actions that could keep them from re-occupying homes damaged in floods last April. The dailyhearld tells MHProNews that about two dozen picketers carried signs reading, “Stop discriminating” and “We are poor, not stupid,” as they …
The National Association of Home Builders (NAHB) tells MHProNews that sales of newly built, single family homes declined in July 13.4%, to a seasonally adjusted annual rate (SAAR) of 394,000 units. “The drop-off in sales in July is in part a reflection of buyers’ reaction to the recent uptick in …
Higher Mortgage Rates Cause Pause, may Fuel more Home Sales soon Read More
Day two of the rebound from stocks saw the Dow close at 15,010.51, +46.77 (+0.31%). CNN-Money tells MHProNews that some investors may have taken hope in a new academic paper from Northwestern University economists Arvind Krishnamurthy and Annette Vissing-Jorgensen presented at the annual meeting of central bankers in Jackson Hole, WY, …
NW economists, how to taper without killing housing, Day Two of Stock Rebound Read More
Demand for Canada’s version of manufactured housing is rising rapidly in Manitoba, at the very time spaces in provincial land lease communities are scarce. With single family home sales in the region averaging $285,000, a new manufactured home in Manitoba for $115,000 looks very reasonable. So it is no surprise …
High Demand for Manufactured Homes in Manitoba, but limited spaces in MH Communities Read More
The Lakeport, CA City Council voted to wait for a report from an agency before proceeding on a proposed rent control initiative that has enough petitioners to achieve ballot status. Save our Seniors (SOS) members derided the decision. SOS leader, Nelson Strasser. said: “When the park owners have to bring …
Green Courte Partners, LLC announced the acquisition of Lamplighter Manufactured Home Community, an age-restricted land-lease community, containing 260 home sites, located in Port Orange, Florida. Green Courte engaged American Land Lease, Inc., a wholly-owned subsidiary of its second fund, Green Courte Real Estate Partners II, LLC, to manage the community. …
Green Courte buys another ‘Senior’ Manufactured Home Community Read More
The Bertram City, TX council voted to house their EMS unit in a manufactured home, rather than spend more time and money building a conventional structure. Bertram, about 45 miles from the state capitol of Austin, decided on August 20th 4 to 1 in favor of the measure, budgeting $35,000 …
Texas is not only the biggest state in the U.S. in terms of manufactured homes built and shipped, it is also ranked #1 for a pro-business environment by Chief Executive Magazine and now the Dallas Morning News reports it is one of the top 3 states in attracting people – …
Darryl Searer, president, RV/MH Hall of Fame is progressing well today after undergoing a successful emergency quadruple bypass surgery yesterday morning at the Memorial Hospital in South Bend, according to Barry Cole, Hall chairman of the board. Cole said, “Over the past weekend Darryl suffered what he considered possibly symptoms …
Emergency Quadruple Bypass Surgery for RV/MH Hall of Fame President Darryl Searer Read More
With almost 5 months before the show starts, Dennis Hill with Show Ways Unlimited has told MHProNews that the manufacturers floor space is sold out. This is a good sign of the momentum being built during the last 3 years since the show was canceled in 2010. In 2011 there …
