Business

Manufactured Housing Communities Grow in Mortgage-Backed Security Deals

Although traditional property types such as multifamily, office, industrial and retail continue to dominate the majority of collateral in commercial mortgage-backed security (CMBS), non-traditional properties are increasing. Specifically, as businesswire.com informs MHProNews, manufactured housing communities (MHC) are making up a larger part of the deals. Although this asset class accounted …

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Tracked Housing Stocks mostly Fall; Dow Hits another New High

Despite relatively sluggish and cautious behavior by investors, the Dow hit another all time high, rising +0.14%, +21.32 points to end the day of trading at 15,783.10. CNNMoney reports the Nasdaq nudged up +0.01 percent, +0.56 points, to end the day at 3,919.79 while the S&P edged up points, +0.07 …

Tracked Housing Stocks mostly Fall; Dow Hits another New High Read More

Words of Wisdom from Chairman Sam (Zell)

MHProNews has learned from multihousingnews in an interview at the Urban Land Institute Nov. 7 of Sam Zell, founder of Equity Group Investments and Equity International, by one-time Zell executive and now Green Courte Partners LLC Chairman Randy Rowe, Zell had some pithy insights. He said it’s ok to make …

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UMH Releases Third Quarter Financials

In its third quarter financials, UMH Properties announces it has increased its portfolio of homesites by 26 percent since the beginning of the year. For the quarter ending Sept. 30, 2013 funds from operations (FFO) attributable to common shareholders of $1,993,000 or $.10 per diluted share as compared to Q3 …

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Housing Recovery Strong due to Pent-Up Demand

Noting that it is reasonable for consumers to pause during an economic bubble, Moody’s Investor Services says as mortgage rates and home prices stabilize, home buyers will return to the market to begin satisfying long pent-up demand. Traditionally, as HousingWire reports, homebuilding depends upon new household formation. But because real …

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Manufactured Homes May Replace Aging Factory-builts

A project to bring more affordable housing to Spencer, Iowa is in the works at the Sioux River Estates manufactured housing community, according to spencerdailyreporter.com. Dave Jacobsen of Jacobsen Homes Corp. says the plan is to replace the aging factory-built homes with either manufactured or modular homes in the spring. …

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Liberty Homes Goes Skyward, as all Three Indexes Advance over One Percent

A good monthly jobs report from Washington spurred all three indexes to rise above one percent each as the week drew to a close. CNNMoney reports the Dow Jones Industrial Average gained +167.8 points, +1.08 percent, to close at 15,761.78. The Nasdaq gained +1.60 percent, +61.90 points, to end the …

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Senior Housing Market Gains Strength

Current sales, prospective buyer traffic and anticipated six-month sales for the 55+ housing market showed continued improvement in the third quarter of 2013 compared to the same period last year, according to the National Association of Home Builders (NAHB) Housing Market Index (HMI). The single-family index rose 14 points to …

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City Prepares to Acquire Manufactured Housing Community

Following up on a story MHProNews posted Oct. 31 regarding the acquisition of Spruces Mobile Home Park by the city of Williamstown, Massachusetts and returning it to a natural state because it is in a flood plain, the Board of Selectmen will discuss the drafts of three warrant articles dealing …

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Industry’s Famous Name but not the Same

Unless the Columbia Mobile Home Park in Columbia, California resolves two outstanding violations within thirty days, it’s license to operate will be suspended and it cannot collect rent or other monies from the residents. According to mymotherlode.com the California Department of Housing and Community Development posted the notice at the …

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UMH Acquires Five Land Lease Communities

UMH Properties, Inc. of Freehold, New Jersey announces it has acquired five manufactured home communities (MHCs) consisting of 519 developed home sites for $11,800,000, according to wsj.com. The all-age communities—four in Ohio and one in New York—have an average occupancy of 82 percent, and boost UMH’s portfolio to 74 communities …

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Community Residents Happy for Rent Increase

Residents of the Hillcrest Mobile Home Park in Middleboro, Massachusetts are perfectly willing to see their site rents bumped from $192 a month to $281: It means long-neglected capital improvements will be undertaken for these residents who are purchasing the community from Morgan MHP Mass, LLC. Morgan had asked for …

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Tracked Housing Stocks Mostly Decline; Three Major Indexes Fall

While stocks surged earlier in the day sending the Dow to a new high, the three major indexes finished in the red as lackluster earnings from some companies brought down the larger market. CNNMoney reports the Dow Jones Industrial Average fell -152.90 points, -0.97 percent, to close at 15,593.98 The …

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Energy Report on “Not Your Grandfather’s Trailer House”

While many buyers of manufactured homes (MH) are more concerned with affordability and, say, the kitchen cabinetry than energy efficiency, the MH industry is offering more energy efficient features that can save the homeowner anywhere from $30 to $70 month. Ronnie Richards, vice president of marketing for American Homestar Corporation, …

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Universal Forest Products Makes List of Green Vendors

Dublin, Ireland-based Research and Markets, provider of worldwide market research and data, reports the Global Green Building Material market will grow 17.9 percent 2012-2016, especially as more governments become increasingly involved in promoting energy efficiency. MHProNews has learned it is estimated buildings now account for 40 percent of global energy …

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Modular Homes Rising in Iowa

Joe Kelly, executive vice-president of the Iowa Manufactured Housing Association (IMHA), says, “The modular business has been pretty good in Iowa. In the second quarter, which is the latest for which we have numbers, we were fourth in sales among 34 states surveyed in growth over the first half of …

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National Association of Realtors: Home Sales Flatline in 2014

Speaking before the Miami Association of Realtors International Congress, National Association of Realtors (NAR) Chief Economist Lawrence Yun, referring to home sales, said, “Next year will be about the same as this year in terms of sales activity,” although prices will rise six percent, as a shortage of homes for …

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Dow Hits New High; Tracked Housing Stocks Close Mixed

Solid corporate earnings gave a boost to stocks as the Dow closed at a record high in today’s trading. CNNMoney reports the Dow Jones Industrial Average gained +128.66 points, +10.82 percent, to close at 15,746.63. While the Nasdaq dropped -0.20 percent, -7.91 points, to end the day at 3,931.95 while …

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Rents Rise as Homeownership Falls

According to zerohedge.com, the uptick in home prices is transitory and more due to the Federal Reserve’s support of the economy than with organic growth or stability of consumers, as the homeownership rate is stuck at an 18-year low at 65.1 percent, and rents rise to an all-time high, increasing …

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Cavco’s Subsidiary Gets Good Marks

According to YAHOO!Finance, insurance rating firm A. M. Best Co. Inc. has affirmed the financial strength rating of Cavco Industries, Inc.’s (CVCO) subsidiary Standard Casualty Company with an A- (excellent) and issuer credit rating of “a,-” noting that both ratings are stable. Best notes the company’s adequate risk-adjusted capitalization, generally …

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