BloombergBusinessWeek says Midland and Odessa, Texas sit on top of the Permian Basin, a rich store of petroleum which last year produced 280 million barrels of oil, about 14% of the U.S. output. Compared to the 100 active drilling rigs in 2009 there are 500 this year. As MHProNews has …
Joe Kelly of the Iowa Manufactured Housing Association tells MHProNews Denver-based YES! Communities and real estate investment firm Stockbridge Capital Group of San Francisco have purchased a portfolio of 42 manufactured housing communities from American Residential Communities (ARC), also of Denver. The 10,500 home sites, located in Iowa, Illinois, Nebraska, …
MarketWatch tells MHProNews Clayton Homes second quarter 2012’s pretax earnings increased 45% due to increased sales. In a regulatory filing, Berkshire Hathaway reported homes sales increased $40 million, or 11%, in the second quarter. For the first six months of 2012, home sales jumped 16% to $103 million. The filing …
AnchorageDailyNews tells MHProNews although many of Warren Buffett’s Berkshire Hathaway subsidiaries did well in Q2 2012, including its housing-related businesses, its overall second quarter profit dropped nine percent. Berkshire earned net income of $3.1 billion, $1.25 a Class B share, a drop from last year’s second quarter income of $3.4 …
PRNewsWire reports Freehold, New Jersey-based UMH Properties, Inc. announced it closed on the acquisition of eleven manufactured home communities comprised of 968 home sites situated on 200 acres for $28,250,000. With a 92% occupancy rate, ten of the communities are in Pennsylvania, and one is in New York. The publicly-owned …
Halifax, Nova Scotia-based Killam Properties, Inc. announces it will release its second quarter 2012 financial results Wed. Aug. 8, 2012 after the market closes. The following day, Thurs. Aug 9, Killam will conduct a conference call at 12:00 noon eastern time to discuss the results. MHProNews has learned Killam is …
MarketWatch reports Southfield, Michigan-based Sun Communities, Inc. announces it has purchased Northville Crossing manufactured housing community just west of Northville, MI including personal property, inventory and chattel loans for $32.3 million cash. The 756 site MHC is a multi-section community established within the last 15 years. As MHProNews has learned, …
FYR-TV in Bismarck, North Dakota says the combination of the Souris River flooding in Minot, ND last year and the ongoing oil boom in western ND is creating a huge demand for manufactured and modular housing from Minot to Williston and the surrounding area, especially since contractors are so busy. …
MarketWatch says Phoenix-based Cavco Industries, Inc. (CVCO: +3.63% Aug. 2) reported net sales for the first quarter of fiscal year (FY) 2013 totaled $118,781,000, representing a 20% increase over the $98,981,000 net sales for the first quarter of FY 2012. First quarter 2013 net income was $1,618,000 as compared to …
equities says Drew Industries, Inc (NYSE:DW) reports record net sales for the second quarter of 2012 of $251 million, a 35% increase over Q2 2011, a record for any quarter, primarily due to a 39% increase in the RV division, while acknowledging the manufactured housing sales segment also increased due …
ModularHomeCoach informs MHProNews Haven Homes in Selinsgrove, Pennsylvania will cease operations for the final time Sept. 24, 2012 after 40 years in business. As of 3:00 PM July 27 the stopped accepting orders for their line of modular homes. The company says the current economic environment and recent health issues …
Following up on a story we have been covering for over a year, and last reported on July 25, 2012, voicesnews says the Conservation Commission, Inland Wetlands Agency (CCIWA) in Oxford, Connecticut, has acknowledged receipt of Garden Homes Management’s newest application for a 124-unit manufactured housing complex despite not having …
The Daily Reporter tells us from Coldwater, Michigan, the Coldwater City Council has approved bringing 16 acres into the city from Coldwater Township for Ralph Schaefer to erect a modular home sales business. The council must also approve rezoning of the land, and the city planning commission must approve the …
Yahoo!Finance says Cavco Industries, Inc. will release its earnings report for the first quarter of fiscal year (FY) 2013 on Thurs., Aug. 2, 2012 after the close of the market. Senior management will conduct a live webcast the following day, Fri. Aug 3, 2012 at 12:00 noon eastern time to …
CSRWire reports non-profit National Equity Fund (NEF) and financial giant Morgan Stanley are committing $25 million more in capital to support development of affordable housing and a jump start to local economies in devastated areas following catastrophic tornadoes and flooding. The current Rebuilding Local Economies Fund has reached $125 million. …
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KTVN tells MHProNews UMH Properties, Inc. of Freehold, New Jersey has acquired the age-restricted Meadowood manufactured home community in New Middleton, Ohio. The 123 site community, located on 20 acres, was purchased for $3,400,000, and increases UMH’s holdings to 42 MHCs comprising 9,100 developed home sites in New Jersey, New …
Daily Mercury reports from Sydney, Australia a modular house called HOUSE2.0 unfolds out of a box and can be set up within a week ready for the furniture to be brought in. Tektum managing director Nicolas Perren says a developer in Mackay in New South Wales (NSW) has expressed interest …
Yahoo!Finance says Elkhart, Indiana-based Skyline Corporation reports for fiscal year (FY) 2012 net sales increased 13% from $162,327,000 FY 2011 to $182,846,000. Manufactured and modular housing sales comprised $109,157,000 of the 2012 total, an 11% increase over the $97,922,000 net sales for 2011. FY 2012 net loss was $19,365,000 as …
TheDailyCourier reports Beverly Granillo, who has been selling manufactured homes in Prescott Valley, Arizona since 1986, says used manufactured homes are selling well in the area because they are 30-50 percent less than new homes. She closed her dealership in 2009 because of the economy but now sells new and …
As follow-up to a story we published yesterday, July 25, concerning the development of 251 manufactured homes in Halekulani, near the southeast coast of Australia, express-advocate-wyong reports opposition is increasing as nearby residents rallied outside the site Wednesday. As owners of the property, the Darkinjung Aboriginal Land Council wants to …
