Business Insider reports the U.S. is on track this year for the lowest number of total housing completions since the Census Bureau started keeping records of completions. In 2005, 1,878,200 single family and multifamily dwellings were added to the nation’s housing stock, including 146,800 manufactured houses. This figure included an …
National Mortgage News reports the nation’s largest residential mortgage originator saw a decline of 31 percent from the first quarter, funding only $64 billion new home loans in the second quarter 2011. Wells Fargo Home Mortgage non-interest income fell $397 million from the first quarter to $1.6 billion in the …
Mixed News from Largest Residential Mortgage Originator Read More
The National Association of Home Builders (NAHB) says figures released by the U.S. Commerce Department show housing starts for single and multifamily homes increased in June 14.6 percent to a seasonally-adjusted rate of 629,000. Bob Nielsen, chairman of NAHB, called it an encouraging sign, but also noted that lack of …
Market Watch reports Equity Lifestyle Properties (NYSE:ELS) has released results for the second quarter 2011, and for the past six months. Funds from operations (FFO) for the first quarter equaled $27.3 million, or .73 cents per fully-diluted share, versus last year’s second quarter of FFO of $27.1 million, equaling .76 …
ELS Releases Financials for Q2 2011 and for Six Months Read More
The Sacramento Bee says Drew Industries, Inc., (NYSE:DW) will announce its second quarter 2011 results prior to the market’s opening on Monday, Aug 1, 2011. Drew is a manufacturer of doors, windows, chassis, bath units and upholstered furniture for the manufactured housing and RV industry will host a conference call …
Manufactured Home Component Maker to Release Q2 Financials Read More
Bluffton Today, of Bluffton, South Carolina, reports members of the town’s Affordable Housing Committee discussed methods of determining how the six affordable modular housing units being built will be sold. Town Growth Management Director Marc Orlando says a consultant has been hired to market the single-family homes, screen applicants for …
The Roanoke Times says building of a 70 unit modular townhouse project has begun in Christiansburg, Virginia, to provide affordable housing and to stimulate the economy. Called Forest Hills at Belview, the $13.5 million venture will offer housing to those who meet strict low-income guidelines. Funded by the Obama administration’s …
The Ottawa Citizen says modular home builder Guildcrest Homes is opening a retail outlet in Carleton Place, a town of 10,000, west of Ottawa, in an attempt to reach out to its customer base. While the 250 homes it builds each year are built in Morewood, this 1,000 square-foot show …
SmallCapInvestor reports that Universal Forest Products (NASDAQ:UFPI) posted a 21 percent increase in its stock price today to top the list as the top performing small cap stock. Universal makes wood and wood alternative components for manufactured and modular housing. Despite a 69 percent drop in its profit for the …
The Curry County Reporter in Oregon reports the residents of what was a land lease community (LLC) in Gold Beach, Oregon, have successfully formed a non-profit co-op that has become Saunders Creek Homeowners Cooperative. When the owners put the 43 home site land up for sale, the residents received purchase …
NPR News says a nasty ancillary result of the housing crisis is the growth of mold in foreclosed houses, exacerbated by the drawn out process of paperwork, causing many houses to sit closed up for years. Normal comings and goings in a house ventilate the interior, drawing moisture up to …
As Foreclosed Houses Grow, So Grows a Costly By-product Read More
In a communiqué to MHMSM.com, Mountain View Estates community owner David Roden and Spencer Roane, the Georgia Manufactured Housing Association’s (GMHA) Community Owners Representative, have an upcoming meeting with Federal Emergency Management Agency (FEMA) and Georgia Emergency Management Agency (GEMA) officials to discuss housing for disaster victims. Noting that the …
The Keremeos Review in British Columbia, Canada, reports the Lower Similkameen’s newest manufactured home community will be ready for residents by mid to late August. The Copper Ridge Manufactured Home Park will have 20 home sites, and electrical and plumbing connections are being completed. Owner Richard Sadovick said he has …
Origination News says under a new home-buyers incentive program by Fifth Third Mortgage Co. of Cincinnati, Ohio, borrowers can have a reduced rate on their purchase money mortgage. They can choose to have their basis points lowered by 12.5 basis points over the life of the loan, or by 100 …
Creative Incentives Offered to Attract Home Buyers Read More
Yahoo Finance reports that Killam Properties, Inc., of Halifax Nova Scotia, Canada, will release its second quarter 2011 financials for the quarter ending June 30, 2011, on Wednesday, August 3, 2011 after the market closes. The 2011 Allen Report lists Killam as the 17th largest land lease community (LLC) in …
Market Watch reports from Warsaw, Indiana, that Brian J. Smith, Co-CEO of Heritage Financial Group in Elkhart, IN has been appointed to the Boards of Directors of Lakeland Financial Corporation and Lake City Bank. Trained as a Certified Public Accountant (CPA), Smith has been Co-CEO of Heritage since 2000, and …
CoStar Group reports Equity Lifestyle Properties (ELS) (NYSE:ELS) has closed on 35 of the 76 manufactured home communities it is acquiring from Hometown America LLC. These 35 properties represent 12,057 sites in seven states including Florida, Arizona and Michigan. This $451 million purchase is part of a larger $1.43 billion …
ELS Closes on 12,057 of Hometown’s 31,167 Home Sites Read More
Newswise says the Virginia Tobacco Indemnification Commission and Community Revitalization Commission has awarded a $2,445,000 grant to the University of Virginia (U.Va.) to design, develop and manufacture affordable, energy-efficient and disaster-recovery housing. The focus will be on economic revitalization in formerly tobacco-dependent communities by creating 50 jobs in state-of-the-art facilities …
Academia, Industry Collaborate to Build Sustainable Modular Homes Read More
HousingWire reports for the first time since the housing tax credits ended in June 2010 that home sales have spiked in Southern California. San Diego-based DataQuick says June over May 2011 sales increased 11.6 percent, but still 14 percent below June 2010 for this populous six county area. June is …
Southern California Housing Market Slowly Improving Read More
Switchboard says the modular Katrina Cottages that were built for survivors of that deadly hurricane are now being used as offices, educational facilities and affordable housing. The article, published in the newsletter of the National Resources Defense Council (NRDC), says one developer is using 12 of them in Buena Vista, …
