MHProNews.com has learned of a program in Montana to replace pre-HUD Code mobile homes with new, Energy Star-rated manufactured homes in the Great Falls area. The Sun Prairie subdivision outside Great Falls has 240 factory-built homes, many of them older models, where NeighborWorks Montana conducted an open house displaying a …
MHProNews.com has learned that manufactured housing will be part of the Whitehouse Cove marina development project in Poquoson, Virginia, just north of Newport News on the Chesapeake Bay. Robert Brown and Associates had initially proposed building condominiums with the full service marina and the restaurant, but complications about setbacks and …
The Greek debt in particular and the ongoing debt crisis in Europe overshadowed trading on Wall Street, as CNNMoney reports the Dow Jones Industrial Average fell 33.07 points, -0.26 percent , to end the day at 12,675.75. The NASDAQ gained 0.09 percent, while the S&P fell -0.10 percent. Meanwhile the …
European Cloud Continues Gloomy, while Mfg. Housing Composite Gains Read More
FinancialNewsNetwork has informed MHProNews.com that two of the three top residential real estate investment trusts (REITs) that have the highest dividend yield in the industry are MHC owners. UMH is number one with a dividend yield of 7.9 percent. UMH has a portfolio of 39 manufactured home communities in New …
Two MHCs Rank First and Second in Dividend Yield Among Residential REITs Read More
The National Association of Home Builders (NAHB) tells MHProNews.com the Government Accountability Office (GAO) reports the lack of government oversight of real estate appraisals has resulted in inaccurate home valuations. Both builders and realtors note 18-33 percent of appraisals have been inaccurate, resulting in cancellations and delays in contracts. A …
SantaFeNewMexican tells MHProNews.com real estate developer Jeff Branch wants to turn his 40 acre tract on the southwest side of Santa Fe, New Mexico, into a manufactured home community. He purchased the property in 2006 and received approval for 222 site-built homes from the city but has been unable to …
Mortgage Bankers Association (MBA) chief executive David Stevens, noting the current 20 percent downpayment requirement is “a direct attack on first-time homebuyers, African-American borrowers and Latinos”, says it will make it more difficult to attract teachers, firefighters, and healthcare workers to new jobs in communities. NationalMortgageNews tells MHProNews.com Stevens says …
Reuters informs MHProNews.com that real estate investment trust (REIT) Sun Communities, Inc. (NYSE:SUI) of Southfield, Michigan will release its fourth quarter 2011 earnings statement on Thursday, Feb. 23, 2012 before the market opens. At 11 AM that same morning a conference call will be held to discuss the earnings statement. …
CapeCodTimes tells MHProNews.com a couple in South Yarmouth, Massachusetts, purchased a modular home from a company in Pennsylvania and allege that it was fraught with manufacturing defects. Upon receiving delivery of the home and noticing problems, they contacted the Massachusetts Department of Safety who ordered the house gutted to evaluate …
Modular Home Construction Compliance Found Lacking Read More
As follow-up to an article we wrote Jan. 16, 2012 about a revived proposal shelved ten years ago to develop an MH community in Ormond Beach, Florida, the Volusia County Council approved plans for the community Jan. 19. OrlandoSentinel tells MHProNews.com the area, near the “Loop”, is a scenic route …
MHProNews has learned from NationalMortgageNews, former President Bill Clinton’s plan to resolve the housing crisis is for underwater borrowers to receive lowered principal and interest rates that match current valuations. Once the market recovers and the house is sold, the bank would get a portion of the sale. This would …
Despite ongoing talks about resolving the Greek debt, CNNMoney reports the Dow Jones Industrial Average rose 96.5 points, +0.76 percent, to close at 12,720.48. The NASDAQ fell -0.06%, while the S&P gained +0.07 percent. The Yahoo! Finance Manufactured Housing Composite gained +2.89 percent to close at 806.3. Tracked housing stocks …
All Three Stock Indexes Gain 2% for Week; Mfg. Housing Composite Breaks 800 Mark Read More
Following up on a story we published Dec. 2, 2011 concerning state felony theft charges against Jo Leigh Ares for allegedly receiving deposits on manufactured homes that were not delivered, MHProNews has learned her Park Girl Sales LLC has filed for bankruptcy. The petition, filed in the U.S. Bankruptcy Court …
Park Girl, Facing Fraud Allegations, Files Bankruptcy Read More
A private equity fund is betting $250 million on foreclosed homes. Menlo Park, California’s GI Partners is investing in WayPoint Real Estate Group, a company that buys foreclosed homes at discount prices and rents them. The Wall Street Journal tells MHProNews this investment is one of the largest by an …
NationalMortgageNews tells MHProNews in Q4 2011 the mortgage division of Wells Fargo & Co. wrote $120 billion of new home mortgages, triple the volume of JPMorgan Chase, its nearest competitor. In the third quarter it did almost double the volume of Chase. In the fourth quarter 2011 Wells’ mortgage banking …
HousingWire tells MHProNews that according to local MLS Realcomp, sales of homes and condos in the metropolitan Detroit area increased 2.2 percent in the last six months of 2011. This figure coincides with a drop in on-market inventory of 22.5 percent, Dec. 2010 to Dec. 2011, to a total of …
Detroit, Houston Home Sales Tell Different Stories Read More
MHProNews has learned from OriginationNews JPMorgan Chase chairman and CEO Jaime Dimon says the “turn” in the housing market is at least getting closer as the economy slowly improves. Noting the decline in the shadow inventory, he says it’s cheaper to buy than it is to rent in some markets. …
Omaha tells MHProNews modern-day homesteaders can get free land in Iowa and Nebraska providing they build a home on the land within five years. The lots are typically only available in smaller towns where not many employment opportunities exist. In addition, house construction costs are not cheap and credit continues …
MHProNews has learned from WBIRTV in Knoxville, Tennessee of a collaborative effort between the Tennessee Valley Authority (TVA)and Clayton Homes of Maryville, TN. Clayton’s total i-House production in the TVA region will have upgraded windows, thicker insulation, heat pumps, power saving lighting, and Energy Star appliances. TVA will offer a …
MHProNews has learned from the Orlando Sentinel that a developer who was denied the right to site 1,500 manufactured homes in Volusia County on Florida’s east coast on a 1,033 acre tract in 2002 is trying again. Plantation Oaks of Ormond Beach LLC would border a very scenic route of …
