Business

UMH Negotiating for Six more Manufactured Home Communities, Presenting at NAREIT REIT Week

By / June 8, 2015 / Business, Communities, Company News, Manufactured and Modular Housing News, Manufactured Homes

MHProNews has learned Freehold, New Jersey-based UMH Properties, Inc. (NYSE:UMH) has agreed to acquire six manufactured home communities (MHCs) in Indiana, Ohio and Michigan for $68.6 million. The all-age communities contain a total of 2,200 developed sites, according to prnewswire. Barring any problems, the transaction is set to be finalized …

UMH Negotiating for Six more Manufactured Home Communities, Presenting at NAREIT REIT Week Read More

MHCV Edges Up, while Dow, Nasdaq, and S&P 500 all Slip

By / June 8, 2015 / Business, Manufactured and Modular Housing News, Stocks

In the CNN News: China’s Da Lian Zeus Entertainment won lunch with Warren Buffett for $2.3 million, a ticket to the NBA finals sold for $36,843, a first generation Apple 1 sold for $200,000, and sales at Kmart have fallen from $37 billion in 2000 to $12.1 billion last year. …

MHCV Edges Up, while Dow, Nasdaq, and S&P 500 all Slip Read More

Gendell Unloads more Patrick Industries, Inc. Stock

By / June 8, 2015 / Business, Company News, Legal, Manufactured and Modular Housing News, Manufactured Homes, People, RV

MHProNews reported May 25, 2015 that Jeffrey L. Et Al Gendell sold 18,783 shares of Patrick Industries, Inc. (NASDAQ:PATK) stock at an average price of $40.92 for $1,144,260.36. According to lulegacy, Gendell, a major shareholder of Patrick, sold an additional 48,500 shares on June 3, 2015 for $40.03 per share …

Gendell Unloads more Patrick Industries, Inc. Stock Read More

Rents may Roll Back at Manufactured Home Community in Long Need of Repairs

By / June 8, 2015 / Business, Communities, Legal, Manufactured and Modular Housing News, Manufactured Homes, mobile home, People

Following a story MHProNews last reported on Oct. 24, 2014 regarding rent reduction, drainage and road repair problems at the Easton Mobile Home Park that have been an issue for residents for the last ten years, Selectmen, serving as the Mobile Home Park Rent Control Board, have agreed to consider …

Rents may Roll Back at Manufactured Home Community in Long Need of Repairs Read More

Manufactured Housing Investments Yield High Returns

By / June 8, 2015 / Business, Communities, Company News, Finance, Manufactured and Modular Housing News, Manufactured Homes, People

Noting that his HAS Income Opportunity Fund 1 has delivered upwards of 15 percent return through the end of 2014, Stephen Wheeler, HAS Capital’s Chairman says, “Returns from MH (manufactured housing) related investments are outpacing investments in other real estate sub-sectors. Consistent high return opportunities are available to MH investors, …

Manufactured Housing Investments Yield High Returns Read More

Sunday Recap May 31, 2015-June 6, 2015

By / June 6, 2015 / Advocacy, Business, Canada, Communities, Company News, Economy, Factory-Built Homes, Finance, Green, home buyers, Legal, Legislation, Manufactured and Modular Housing News, Manufactured Homes, Modular, People, regulation, Trends

In manufactured housing news, L. A. “Tony” Kovach defines path to revitalize the MH industry, while one MH supplier picks new head, another MH producer closes, HUD Code production continues rising, MHC reverting to stick-built homes, Cavco seeks tax abatement, AZ MHC closing, Sen. Donnelly and MHI’s Jennison defend H.R. …

Sunday Recap May 31, 2015-June 6, 2015 Read More

Magnolia Manufactured Homes Closing

By / June 6, 2015 / Business, Company News, Manufactured and Modular Housing News, Manufactured Homes

MHProNews has learned from kota tv that Magnolia Homes in Gering, Nebraska has closed its doors, and area development officials are looking for a new tenant. Citing large job losses and difficult finance problems in North Dakota due to the drop in oil prices, owner Harry Karsten sent a letter …

Magnolia Manufactured Homes Closing Read More

Realtors ® and Manufactured Home Dealers should develop a Symbiotic Relationship

By / June 5, 2015 / Business, Communities, Economy, Finance, home buyers, Manufactured and Modular Housing News, Manufactured Homes, People

In his fourth installment on General Manufactured Housing Industry Topics, MHProNews and MHLivingNews publisher L. A. “Tony” Kovach says getting Realtors ® involved in the sale of manufactured homes can be a mutually profitable proposition. “We believe there is obvious value in having real estate agents who already know manufactured …

Realtors ® and Manufactured Home Dealers should develop a Symbiotic Relationship Read More

Skyline Regains Yesterday’s Loss while Drew Drops

By / June 5, 2015 / Business, Manufactured and Modular Housing News, Stocks

In the CNN News: U. S. gains 280,000 jobs in May, now totaling over one million jobs on the year; OPEC refuses to cut oil production, and consumers expanded their borrowing last month by $20.5 billion. Meanwhile, the Yahoo Manufactured Housing Composite Value (MHCV) nudged up +0.08 percent, to end …

Skyline Regains Yesterday’s Loss while Drew Drops Read More

Keith Anderson Appointed New CEO at Champion

By / June 5, 2015 / Business, Company News, Factory-Built Homes, Finance, Manufactured and Modular Housing News, Manufactured Homes, People

Champion Home Builders, Inc. of Troy, Michigan announced today that Keith Anderson, interim CEO since Jan. 2015, has been named President and CEO of the producer of manufactured and modular homes and commercial buildings. Having joined the company’s Board of Managers in 2013, he served as president and CEO of …

Keith Anderson Appointed New CEO at Champion Read More

Drop in Down Payment Signals Uptick in First-time Home Buyers

By / June 5, 2015 / Business, Economy, Finance, home buyers, Manufactured and Modular Housing News, Trends

Falling to the lowest level since Q1 2012, the average down-payment for single-family homes, condos and townhouses purchased in the first quarter dropped to 14.8 percent of the purchase price, a slight decrease from 15.2 percent the previous quarter and 15.5 percent a year ago, according to what RealtyTrac tells …

Drop in Down Payment Signals Uptick in First-time Home Buyers Read More

Sun Declares Dividends on Common and Preferred Stocks

By / June 5, 2015 / Business, Communities, Company News, Finance, Manufactured and Modular Housing News, Manufactured Homes, RV

Manufactured Home (MH) and Recreational Vehicle (RV) community owner Sun Communities, Inc. (NYSE:SUI) of Southfield, Michigan has declared a quarterly distribution of $0.65 per share of common stock for Q2 2015, payable July 17, 2015 to shareholders of record as of June 30, 2015. The company’s board of directors also …

Sun Declares Dividends on Common and Preferred Stocks Read More

Turning Renters to Manufactured Home Buyers

By / June 5, 2015 / Business, Economy, Finance, home buyers, Legislation, Manufactured and Modular Housing News, Manufactured Homes, regulation, Trends

MHLivingNews and MHProNews publisher L.A. “Tony” Kovach follows the time line formation of renter households versus homeowner households, from the New Deal’s attempts to increase homeownership in 1933 to present day attempts, correlating Fannie Mae and Freddie Mac expansion with economic programs, artificially induced interest rates and subsidies to stimulate …

Turning Renters to Manufactured Home Buyers Read More

Technology has Revolutionized Manufactured Homes

By / June 4, 2015 / Business, Legal, Manufactured and Modular Housing News, Manufactured Homes, mobile home, regulation

The phone at the Home Center rings or a customer walks in and asks for information about “trailer houses” or “mobile homes,” phrases which smack of thin walls and floors, cheap paneling, fire traps, unsafe, low rent occupants, etc., imagery that goes back nearly 40 years. Returning to that era, …

Technology has Revolutionized Manufactured Homes Read More

Dow Drops One Percent; Most Manufactured Housing Stocks Fall

By / June 4, 2015 / Business, Manufactured and Modular Housing News, Stocks

In the CNN News: Greece fails to meet its IMF financial obligations, legal marijuana business is boosting Denver housing market, China is hoarding cheap oil in a fleet of supertankers, and IMF says Fed should not raise interest rates until next year. Meanwhile, the Yahoo Manufactured Housing Composite Value (MHCV) …

Dow Drops One Percent; Most Manufactured Housing Stocks Fall Read More

Manufactured Home Tax Statements have been Mailed

By / June 4, 2015 / Business, Finance, Manufactured and Modular Housing News, Manufactured Homes

MHProNews has learned from logandaily the 2015 manufactured home (MH) tax statements for Hocking County, Ohio have been mailed. Diane Sargent, Hocking County Treasurer, says closing date for MH is Fri., July 31, 2015. Payments postmarked after the due date may be subject to penalty. The treasurer’s office is now …

Manufactured Home Tax Statements have been Mailed Read More

Arizona Manufactured Home Community will be Repurposed under New Ownership

By / June 4, 2015 / Business, Communities, Company News, Legal, Manufactured and Modular Housing News, Manufactured Homes, People

The 80-100 residents at Wheel Inn Ranch RV and Mobile Home Park in Scottsdale, Arizona will have to relocate by January following the purchase of the land last year for over $3 million by MHP Scottsdale LLC, led by developer Ryan Hartman, according to azcentral. While many of the residents …

Arizona Manufactured Home Community will be Repurposed under New Ownership Read More

Rio Plaza Obtains Refi Package of $5.9M

By / June 3, 2015 / Business, Communities, Company News, Finance, Manufactured and Modular Housing News, Manufactured Homes

Capital One’s Manufactured Housing Finance has engineered a $5.9 million Fannie Mae fixed-rate loan to refinance Rio Plaza Mobile Home Estates (MHC) in King City, California. MHProNews has learned from multihousingnews the community is located in Monterey County 50 miles southeast of Salinas. The 110 homesite all age manufactured home …

Rio Plaza Obtains Refi Package of $5.9M Read More

HUD Code Production of Manufactured Homes Continues Climbing

By / June 3, 2015 / Business, Economy, home buyers, Manufactured and Modular Housing News, Manufactured Homes, Trends

The Manufactured Housing Association for Regulatory Reform (MHARR) informs MHProNews that, based on statistics released by the Department of Housing and Urban Development (HUD), HUD Code production for April, 2015 hit 6,085 homes, a 7.6 percent increase above the 5,653 produced in April, 2014. Total production for the year is …

HUD Code Production of Manufactured Homes Continues Climbing Read More

Nobility Plummets -6.94%; MHCV Again Out paces Dow

By / June 3, 2015 / Business, Manufactured and Modular Housing News, Stocks

In the News: U. S. and world economies slowing down, OPEC barrels over U.S. oil markets, China is beating U. S. in health research, and FIFA President sepp Blatter resigns Post, and ADP says 201,000 jobs were added to the private sector last month. Meanwhile, the Yahoo Manufactured Housing Composite …

Nobility Plummets -6.94%; MHCV Again Out paces Dow Read More

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