The National Association of Realtors (NAR) reports total existing home sales—single-family, townhomes, condos and co-ops–fell 0.4 percent in Feb. to a seasonally annual adjusted rate (SAAR) of 4.60 million, down from 4.62 million in January. Lawrence Yun, NAR Chief Economist, suggests the severe winter weather likely contributed to the drop. …
NAR Survey: Home Sales Down, Home Prices Up, Student Debt a Hindrance Read More
Following a story MHProNews.com last posted on Jan. 1, 2014 regarding a modular housing apartment building planned in Estevan, Saskatchewan, Canada, placement of the first module occurred March 13, and by Mon., March 17, 75 percent of the 55-unit, four-story Marisa Condos was in place. The modules are trucked up …
Investors jumped back into stocks after slinking away in yesterday’s trading following Federal Reserve’s chief Janet Yellen suggesting that interest rate hikes would begin in mid-2015. Credit Suisse expects her stance to mollify in her next public appearance. The Dow Jones Industrial Average regained 108.88 points, +0.67 percent, to end …
Dow Regains Most of Yesterday’s Loss; Patrick Ind. Slips the Most Read More
Private equity real estate investment firm Green Courte Partners, LLC announces the promotions of Chad V. Gardner and Matthew J. Pyzyk to vice president, according to prnewswire.com. Gardner joined Green Courte as a senior accountant in Nov. 2010, and in his new position as vice president and portfolio controller he …
Bella Vista Estates in Boardman, Oregon, with 127 homesites, has become the largest resident-owned manufactured home community (MHC) in Oregon, according to eastoregonian.com. The non-profit Community and Shelter Assistance Program (CASA) of Oregon helped the residents form the co-op and obtain the $3.15 million financing, and continues to provide technical …
Former Land Lease Community becomes Resident-Owned Read More
Insurance policy administrator Insurity, Inc. has been selected by American Modern Insurance Group to administer physical damage coverage for manufactured home (MH) dealers. According to Bill Gottsacker, American Modern’s VP, says, “Insurity has a strong reputation in the insurance industry, especially when it comes to the complexity of specialty lines …
Stocks took a tumble following Janet Yellen’s first meeting of the Federal Reserve after she said the Fed’s stimulus program would likely end by the fall, and a hike in interest rates may arrive next year. The Dow Jones Industrial Average slumped, falling -114.02 points, -0.70 percent, to end the …
Deer Valley Spikes, Equity LifeStyle Slips, Dow Drops Read More
Following a story MHProNews.com first posted March 3, 2014 regarding the condemning and shuttering of Life O’Riley Mobile Home Park in Lansing, Michigan by the Ingham County Health Department, State Rep. Andy Schor (D-Lansing) plans to introduce legislation to give local authorities more control over manufactured home communities (MHCs). Currently, …
Legislation will Give Cities more Control to Manufactured Home Communities Read More
The Reseda Mobile Estates in California has been acquired by Anaheim, CA-based Reseda mhp Associates LP for $13.1 million. According to Briana Barbier of Marcus & Millichap, who represented the seller, the 108-site manufactured home community “is a stable, well-maintained community that provides affordable housing in the expensive, high-demand San …
U. S. stocks were significantly higher for the second straight day as tensions in the Ukraine faded slightly from the concern of investors, sending the Dow Jones Industrial Average up 88.97 points, +0.55 percent, to end the day at 16,336.19, according to CNNMoney. The Nasdaq moved up +53.36 points, +1.25 …
The National Association of Home Builders (NAHB)/Wells Fargo index of builder confidence rose to 47 in March from a reading of 46 in February. The gauge measures builders estimates of how the housing market is performing as it reflects the rising demand for new homes. Even as the traditional spring …
Referring back to a story MHProNews.com published March 17, 2014 regarding the new housing reform finance bill being discussed in the Senate Banking Committee, Credit Suisse AG says it will only cover losses after private capital bears the first ten percent, which will lead to more expensive mortgages. The proposal …
Housing Finance Reform Addendum; Lender Adds Manufactured Housing as Eligible Read More
MHProNews.com has learned that Canada’s Killam Properties, Inc. has chosen Ms. Karine MacIndoe to serve as a director of the corporation. Chosen for her experience in finance, capital markets and real estate, she is currently an independent consultant but previously worked for BMO Capital Markets, NM Rothschild & Son and …
Following a story MHProNews.com posted March 3, 2014 regarding Drew Industries’ Inc.’s (NYSE:DW) intent to purchase Star Design LLC, a formed plastic manufacturer of Elkhart, Indiana, the acquisition is now complete. Acquired through its wholly-owned subsidiary, Lippert Components, Inc., the $12.3 million purchase was made from the company’s $75 million …
Investors were unfazed by the mounting tension between the U. S. and Russia over Ukraine, as the Dow Jones Industrial Average jumped 180.65 points, +1.12 percent to end the day at 16,247.22, according to CNNMoney. The Nasdaq moved up +34.55 points, +0.81 percent, to finish at 4,279.95, while the S&P …
For the first quarter ending Feb. 1, 2014, Nobility Homes, Inc. (NOBH) reports sales increased 23 percent to $4,191,429 over the $3,401,667 for the comparable period in 2013. Net income based on those sales after taxes increased to $103,402, well above the $4,845 for the same period of 2013. Working …
A distributor of over 10,000 products to a customer base of 11,500, including components for the manufactured housing industry, BlueLinx Holdings, Inc. (BXC) has entered into an amendment for its U. S. revolving credit agreement for an additional $20 million line of credit, according to marketwatch.com. Led by Wells Fargo …
Manufactured Home Component Supplier Expands Credit Read More
Fort Collins, Colorado has seen five manufactured home communities (MHCs) close in the last 20 years, displacing 461 families, and of the 14 remaining communities that represent 1,336 homesites, eight are set for redevelopment. MHProNews.com has learned 73 percent are owner-occupied. A study from 2012 to determine the place in …
Colorado City: Net Loss of Manufactured Housing Homesites Read More
Crestview Estates, a manufactured housing community in Norton Shores, Michigan has a new owner after the community’s water bills and other utilities went unpaid for several consecutive months by owner Adam Schwerin. While a group of Catholic churches paid the water bill previously, the new owners, ALT Property Management and …
Maryville, Tennessee-based Clayton Homes announces it is partnering with the Si Robertson clan in the Duck Commander 500 NASCAR® Sprint Cup Series race at Texas Motor Speedway April 6. Noting family Robertson has endorsed Clayton Homes as a “Good Call” for American homebuyers, Si and his wife, Christine, live in …
Clayton, Robertson Clan Partner on Duck Commander Stock Car Race Read More
