The Republic says KBS-Building Systems of South Paris, Maine, is re-opening a manufactured housing plant in Waterford that it had closed in December, laying off 25 employees. According to General Manager Ray Atkisson, the facility was closed due to lack of work and the $700 a month cost to heat …
Pr Web reports from Africa that ZY Properties of Lagos, Nigeria has responded to the country’s housing shortage by offering manufactured and modular homes and cabins that can be built and assembled quickly. Noting that Nigeria is a developing country that is trying to catch up to Western and Asian …
Nigerian Company Offering Modular and Prefabricated Housing Read More
From the eastern New Jersey shore, Toms River Patch says Ocean County will receive $1.2 million in federal HOME grant funds, part of which is designated for affordable housing rental units. At a public hearing, Freeholder (New Jersey designation for county legislator) Gerry P. Little says Housing and Urban Development …
Modular Builder Says He Can Build For Less than Non-Profit Read More
Bloomberg reports that Lewis Ranieri says banks should offer debt-for-equity trades with homeowners facing foreclosure, or who owe more than their property is worth. The head of investment group Ranieri Partners LLC, he said many people of modest means were coached into putting down less than 10 percent on a …
Mortgage Broker Offers Solution to Avoid Foreclosure Read More
The Manufactured Housing Global Network has issued manufactured housing production statistics for March, 2011. Of the 4,035 homes produced nationwide, 1,884 were single sections and 2,151 were multi-sectionals. Texas was the top producer with 893 total houses, followed by Alabama with 621 units produced, and Tennessee which manufactured 583 units. …
Texas Manufactured and Received the Most Manufactured Homes Read More
From The Seattle Times in Washington State comes word that the head of one of the city’s most prominent real estate investment companies has begun a start-up to build modular apartments, military housing, motels, and student housing. Dale Sperling, former CEO and president of Unico Properties, which manages 15 million …
Conventional Commercial Builder Switches to Modular Read More
Market Wire reports from Deer Valley’s corporate headquarters in Tampa, Florida, that their production facility in Guin, Alabama, was not damaged by the tornadoes last week, but they did lose communications and power for a day. All utilities were restored, and the facility reopened Monday, May 2, according to Charlie …
Deer Valley’s Alabama Factory Unharmed by Area Tornadoes Read More
American Market & Business News reports Drew Industries, manufacturer of components for the manufactured housing and RV Industries, announced their quarterly revenue gained 15.80 percent for the first quarter 2011 over the same period 2010. The company said earnings for 2010 were .30 cents per share, as opposed to .42 …
Drew Industries Registers Gains Quarter Over Quarter Read More
Housing Wire reports that Fannie Mae and Freddie Mac have been ordered by the Federal Housing Finance Agency (FHFA) to synchronize their methods of dealing with delinquent mortgages, requiring the mortgage servicer to begin engaging the borrower as soon as they become delinquent. The foreclosure process cannot begin if both …
New Guidelines to Direct Fannie and Freddie Servicers Read More
Benzinga reports Xactware has developed software that incorporates cost data for over 6,000 manufactured and pre-HUD code homes from 1972 to 2011 for insurance purposes in case of loss or damage. From NADA Appraisal Guides, Inc., 360Value determines depreciated cost-replacement guides for manufactured and pre-HUD code homes. Xactware says it …
LAS VEGAS, NV – April 28, 2011. Jerry Wolff (Marketing Manager, GE Appliances) addressed the Manufactured Housing Institute (MHI) Congress in Las Vegas NV to urge a paradigm shift from problems to problem solving. Use social media, be pro-active. Having a small group of people who surf the web to …
Las Vegas, NV – April 27, 2011. At the Manufactured Housing Institute (MHI)’s 2011 National Industry Awards in Las Vegas today, the honor for the best Production Manufactured Home of 1800 square feet or less went to Steven Lefler and Gary Brown of Modular Lifestyles, Inc. The Irvine, California, company …
Modular Home Wins National Award, Uses Very Little Energy Read More
WRTF7 in West Virginia says the number of manufactured homes shipped to the state fell from 4,700 in 1995 to 1,833 in 2007. Last year 1,100 were sold in the state. Manufactured housing used to claim 60 percent of all housing starts here, according to West Virginia Housing Institute Executive …
Manufactured Housing Shipments to West Virginia are Down Read More
Northern Nevada Business News reports the sale of new site-built and manufactured homes in mile-high Elko, Nevada, is up for the first quarter of the year over last year. Real estate agents sold 21 in the first quarter of 2011, 15 percent more than last year, and at an average …
SmarTrend says the cash flow in two of the top five residential Real Estate Investment Trust (REIT)s are manufactured housing community owners. With a price per share of $58.18 and a free cash flow of $3.76 per share, Equity Lifestyle Properties (NYSE:ELS) has a price to cash flow ratio of …
Two of Five Best REITs are Top MH Community Owners Read More
HousingWire reports there may be a problem with American-made drywall, not just drywall from China. The Consumer Product Safety Commission (CPSC), partnering with Environmental Health & Engineering (EH&H), tested 11 homes and found five of them had hydrogen sulfide emissions, as well as sulfur and copper sulfide buildup, which are …
HousingWire reports the Federal Reserve Bank of Dallas says the absence of large quantities of subprime loans in Texas may have kept the state from the depths of the housing crisis. Their percentage of foreclosures is half the level of the rest of the nation, and according to CoreLogic, the …
Smallcap Network notes four suppliers of wood products have seen gains in their stock since last November. The Louisiana-Pacific Corporation (NYSE:LPX), which makes building products for manufactured housing, jumped from $7.90 a share to $9.45, a gain of nearly 20 percent. Leucadia National Corporation (NYSE:LUK) saw their stock price go …
From Texas, the Beaumont Enterprise reports State Farm Insurance canceled the homeowner’s policy of Jon and Beverly Nicholas, and not because of a claim or having done something wrong. Despite their 35-year relationship with State Farm, which gave them a discount for several policies, this couple’s factory-built home in Lumberton, …
