Eugene W. Landy, Chairman of the Board of UMH Properties, Inc. announced this week that, on the Board of Directors declared its quarterly cash dividend on the Company’s Common Stock of $0.18 per share payable March 15, 2012 to shareholders of record at the close of business February 15, 2012. …
From Hoover’s Bizmology comes an article about the North Dakota Oil boom and a related spike in manufactured hosuing shipments. Writer James Bryant says in the article that the oil boom in the Bakken shale formation in North Dakota has manufactured home companies scrambling to meet demand. The recent declines …
Zacks Equity Research announced yesterday it has upgraded its recommendation for Michigan-based Universal Forest Products Inc. (UFPI) from Underperform to a Neutral rating. Zacks says despite far reaching effects on businesses worldwide due to the recent global economic meltdown, UFPI is making constant efforts to align its cost with business …
From Canada, MHProNews.com learns that Black Diamond Group Limited announced recently they will be presenting at the 15th Annual CIBC Whistler Institutional Investor Conference occurring today. Presenting for Black Diamond Group Limited will be Trevor Haynes, President and Chief Executive Officer. A live and archived webcast of the presentation will …
Black Diamond Group Limited to Present at CIBC Whistler Investor Conference Read More
Equity Lifestyle Properties made headlines this week in a two year old case involving a former employee, apparently fired for working during her lunch break. MHProNews.com learns about the incident from Good Morning America. According to the article, receptionist Sharon Smiley was dismissed two years ago for skipping lunch. Recently …
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 …
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. …
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 …
MHProNews.com has learned from MassLive the Blu Homes factory in East Longmeadow, Massachusetts, which opened in 2010, has closed and production facilities have relocated to Vallejo, California. While the sales office and design studio will remain in Waltham, MA, spokeswoman Dana Smith says, “It’s not about what went wrong in …
Longtime industry member, and president and founder of McDonald Modular Solutions (MMS), Inc., Bruce E. McDonald, 72, passed away in Birmingham, Michigan, Jan 10, 2012. He entered the family business in 1962, and by 1968 was converting used mobile homes into offices. He was credited with pioneering modular buildings for …
As a follow-up to our story Nov 8. 2011, MHProNews.com has learned from MLive in Michigan that the first phase of the Smith Village Neighborhood development of 27 modular homes was completed as scheduled, Dec. 31, 2011. Champion Homes and Russell Building Group are constructing 83 dwellings in Flint, MI …
The Motley Fools’ Robert Eberhard tells MHProNews.com an investment in Berkshire Hathaway (NYSE:BRK-B) stock benefits from being a company, or stock, hand-picked by Warren Buffett. Eberhard compares it to investing in a no-loan mutual fund. The stock is less expensive than it has been recently, and Berkshire’s board has authorized …
RVBusiness tells MHProNews.com Sun Communities, Inc. is offering four million shares of its common stock at $35.50 per share, a sale that is set to yield $142 million. As part of the underwritten registered public offering, Sun has granted the underwriters a 30-day option to purchase 600,000 additional shares. The …
From RE Journals.com, MHProNews.com learns that Apartment Realty Advisors of Atlanta recently closed the sale of a 16-property manufactured-home community portfolio containing 5,919 land-lease home sites. The portfolio includes land-lease sites in Arizona, Texas, Michigan and Colorado. Hometown America was the seller. Dallas and Chicago-based Amerian Manufactured Communities REIT, the …
From Housingwire, MHProNews.com learns that MetLife recently closed its forward home loan business. The company will continue to originate reverse mortgages, however. MetLife had had been trying to sell the division since October due to what the report says the company considered excessive regulations post-banking crisis. The insurance giant also …
Ritz-Craft Corporation announced this week it has been awarded a contract to manufacturer, deliver and install 64 modular units at Fulton-Montgomery Community College located in Johnstown, New York. Installation of the two-story housing building, which will accommodate up to 144 students, will double the amount of housing currently offered by …
Ritz-Craft Corporation to Deliver Student Housing to Johnstown Read More
From Billings, Montana and KRTV.com MHProNews.com learns a new modular assembly plant will be coming to the community of Bynum. The new plant will bring an initial 80 jobs and more than 100 more. Lauren Engineers & Constructors of Abilene, Texas have not specified the exact number of jobs, saying …
Every day, 480,000 school buses carry 26 million children to school and school-related activities. School Transportation News tells MHProNews.com since 2006, the manufacture of school buses has declined 37 percent. School funding is tied to property taxes. As homes are abandoned and property values fall, tax collections decline, which tightens …
