Home prices rose 0.5 percent in October over the previous month, according to nationalmortgagenews.com, as prices climbed 8.2 percent year-over-year, based on data from the Federal Housing Finance Administration (FHFA). Investors have reduced the inventory of distressed properties as mortgage rates rise, and gains in employment are attracting more home …
Traditional Home Buyers Returning to Market as Investors Leave Read More
As follow-up to a story MHProNews posted Dec. 18, 2013, metronews.ca in Canada reports Killam Properties, Inc. (TSX:KSM) of Halifax, Nova Scotia has increased its monthly dividend from $0.04833 cents per share to $0.05 per share. On an annual basis the increase works out to be from $0.58 to $0.60 …
The businessreport.com says new manufacturing facilities and plant expansion projects totaling upwards of $60 billion are planned through 2016 in the Baton Rouge area, requiring an uptick in housing demands. Al Bargas of Associated Builders and Contractors Pelican Chapter says, “The workforce is expected to increase by some 35,000 people, …
In a shortened trading session on Christmas Eve, despite many traders away for the holiday, the Dow and the S&P managed to post new record highs, and the Nasdaq closed in positive territory as well. CNNMoney reports the Dow Jones Industrial Average gained 62.94 points, +0.39 percent, to close at …
The National Association of Home Builders (NAHB) reports sales of newly-built single-family homes fell 2.1 percent in November to a seasonally-adjusted annual rate (SAAR) of 464,000 units. According to data released by the U S. Census Bureau and the Department of Housing and Urban Development (HUD), this follows an upwardly …
Northstar Realty Finance Corp (NYSE:NRF) has announced the closing of $345 million of an approximately $400 million manufactured housing (MH) portfolio comprised of 16 manufactured housing communities (MHCs). Located primarily in Colorado and Texas, this purchase adds 5,900 homesites to the company’s stable. As einnews.com informs MHProNews.com, this REIT’s (real …
Northstar Realty Acquires Manufactured Housing Portfolio Read More
The Commerce Department reported that sales of durable goods spiked 3.2 percent in November, well above the two percent economists had predicted. A measure of planned business spending for capital goods marked its biggest gain in nearly a year in November, which indicates growth into next year. While sales of …
Housing Market Continues to Support Economic Recovery Read More
While the previous story MHProNews posted questions the rationale of the Federal Housing Finance Administration’s (FHFA) desire to raise certain mortgage fees for Fannie Mae and Freddie Mac-backed mortgages, incoming director of the FHFA, Mel Watt, says he will postpone the fees and possibly cancel them altogether. Set to take …
Incoming FHFA Director Mel Watt to Sideline Planned Fee Increase Read More
Industry groups are questioning the Federal Housing Finance Administration’s (FHFA) raising of fees as a means to encourage private capital back into the mortgage market. The National Association of Realtors (NAR) president Steve Brown says homebuyers are being charged excessive fees “due to questionable agency goals.” The FHFA intends to …
Will Raising Mortgage Fees Bring Back Private Capital? Read More
UMH Properties, Inc. (UMH) will be presenting at the 2014 Sidoti & Company’s Annual New York Micro-Cap Conference, Monday, Jan. 13, 2014. Held at the Grand Hyatt in New York City, UMH’s Chairman of the Board Eugene W. Landy and President and CEO Samuel A. Landy will offer an overview …
Eugene Landy and Samuel Landy will discuss UMH in Jan. 2014 Read More
Investors responded positively after the head of the International Monetary Fund, Christine Lagarde, was upbeat about the growth of the U. S. economy in 2014, sending the Dow and the S&P to new record highs, and the Nasdaq to a fresh 13-year high. CNNMoney reports the Dow Jones Industrial Average …
Louisiana Pacific Gains; Dow and S&P Mark New Highs Read More
The manufactured homes in Marina Park manufactured housing community (MHC) in Newport Beach, California were bought by the city for $35,000 each in 2007 as the result of a settlement agreement after the MHC closed. Set to become a public park, the city had awarded a $405,000 contract to a …
Repairable Manufactured Homes Saved for the Wrecking Ball Read More
According to dailyfinance.com, CEO of Berkshire Hathaway Warren Buffett is as good a CEO as he is a savvy investor. He bought Clayton Homes, the largest producer of manufactured homes (MH) in North America, in 2003 because Clayton incentivizes its dealers, rewarding them by splitting the profit 50/50 with the …
Wise Warren Buffett Bought Motivating Clayton Homes Read More
While New York City and other crowded urban areas attracting young professionals are turning to micro modular apartments of 200 to 400 square feet–as MHProNews posted here May 27, 2013–mental health professional are citing psychological problems that may result from such tight quarters. “Sure, these micro-apartments may be fantastic for …
The second half of a modular home en route to its destination in Fairfield, Connecticut smashed into the North Benson railroad bridge after the driver received incorrect information about the Interstate exit. Escorted by a company car and a state police cruiser, the police tried to alert the driver the …
Stocks returned to gains to end the week on a higher note following the government’s announcement that third quarter economic activity was actually higher than previously thought, as the three major indexes posted positive results. CNNMoney reports the Dow Jones Industrial Average gained 42.06 points, +0.26 percent, to close at …
Cavco, Skyline Lead the Gains Among Tracked Housing Stocks Read More
A report from CBRE, the world’s largest commercial real estate services firm, states that multifamily rents will increase 2.5 percent a year for the next three years, with the pace of construction leveling off at 216,000 units each year through 2018. It has been 3.9 percent growth a year since …
Marking the third consecutive month of falling sales, the National Association of Realtors (NAR) reports sales of previously-owned homes edged down 1.2 percent to a seasonally-adjusted annual rate of 4.9 million homes sold. The combination of rising mortgage rates, low inventory of available homes and tight credit have contributed to …
Investors stepped back from the market following yesterday’s run-up after the Federal Reserve announced it would begin tapering its stimulus in the coming months. CNNMoney reports the Dow Jones Industrial Average gained a mere +11.11 points, +0.07 percent, to close at 16,179.08. The Nasdaq dropped -0.29 percent, -11.92 points, to …
Patrick Industries Gains, Nobility Homes Falls, Dow Nudges Up Read More
Sun Communities, Inc. (NYSE:SUI) has announced a quarterly dividend of $0.63 per share payable to shareholders of record on Dec. 31, 2013. This represents a $2.52 annualized dividend with a yield of 5.95 percent payable Jan. 17th. Three equities research analysts have issued a buy rating on the stock, while …
