Incidental improvement in the housing market is being noticed as consumer sentiment stabilizes, according to a new survey from Fannie Mae. The group’s November National Housing Survey revealed home price expectations moved from negative to positive territory for the first time in six months, with respondents expecting home prices to …
WiscNews reports from the Wisconsin Dells a local realtor says real estate sales in the area through October 2011 have reached 192, up from 167 last year and 170 in 2009, and foreclosures are holding steady. John Schoenherr, of Century 21 Affiliated, also notes that much of the real estate …
SacBee reports Lippert Components, Inc., a wholly-owned subsidiary of Drew Industries Incorporated, has acquired Indiana-based M&M Fabricators to expand its chassis customization business. With revenues of $3 million annually, M&M modifies chassis primarily for producers of specialized commercial vehicles, Class A and Class C Motorhome RVs, and transit buses. The …
MH Component Maker Drew Ind. Acquires Chassis Manufacturer Read More
A CNNMoney article by Joshua Steiner and Allison Kaptur warns prospective real estate investors that the rosy 2012 forecast for the housing market has two pronounced thorns. The first is less than five percent of the mortgage purchase volume is in the hands of private investors. Support for the housing …
OriginationNews reports seriously-delinquent mortgages (90 days or more out) through the Federal Housing Administration (FHA) increased October over Sept. by 0.03 percent to nine percent, the highest number since Feb. 2010. FHA-endorsed single-family loans declined in October three percent from the previous month, to $15.7 billion, and lending to homebuyers …
HousingWire reports Radar Logic, which tracks home values in 25 metropolitan areas, says while home prices fell 4.4 percent for the year ending September 2011, the survey shows home sales increased 15.4 percent in those markets year-over-year in Sept., the largest gain for the month of Sept. since 2003. Michael …
NationalMortgageNews states the robo-signing scandal has led to such a tight pipeline in the foreclosure process that only 10,000 a month are being processed by FHA (Federal Housing Authority)-approved servicers, but that will clear as the agency pays for a surge on defaulted loans. FHA paid $14.9 billion in fiscal …
The Manufactured Housing Association for Regulatory Reform (MHARR) participated in the House of Representatives Financial Services Committee’s field hearing on “The State of Manufactured Housing” held in Danville, VA Nov. 29, 2011, submitting written testimony on the need for congressional oversight of the Housing and Urban Development (HUD)’s manufactured housing …
MHARR Pans Field Hearing: HUD is the Bigger Hurdle Read More
RealtorMag reports the inventory of homes for sale fell to its lowest level in four years in October, according to data from Multiple Listing Service (MLS). Zelman and Associates says many sellers are taking their homes off the market because they are receiving low-ball bids, and banks are in no …
At the “State of the Manufactured Housing Industry” Congressional Field Hearings in Danville, Virginia, Nov. 29, members of the House Congressional Subcommittee on Housing, Insurance, and Community Opportunity heard from a variety of persons in the MH arena. Henry Czauski, Acting Deputy Administrator for the Office of Manufactured Housing programs, …
MH Field Hearing Yields HUD, MHI, Industry, and Resident Viewpoints Read More
HousingWire reports the New York Federal Reserve says consumer indebtedness fell by 0.6 percent in the third quarter as mortgage balances and credit card limits continued declining. Total consumer debt dropped from $11.72 trillion in Q2 to $11.66 trillion the quarter recently ended. Bankruptcies fell 18.8 percent from Q3 2010, …
The National Association of Home Builders (NAHB) reports the U.S. Department of Commerce says sales of new, single-family homes increased 1.3 percent in October, marking the best monthly sales pace since May, 2011. “Today’s report is right in line with our forecast for modest and gradual improvement in sales activity …
IndyStar reports existing home sales in Central Indiana rose 13.2 percent in October over the same month last year. The Metropolitan Indianapolis Board of Realtors (MIBOR), which covers a 13 county metro area, said the 1,735 homes sold last month mark the fourth straight month sales have grown. Sales of …
Sales of Existing Homes Climb in Indianapolis Area Read More
Bloomberg reports the U.S. Census Bureau says Sept. manufactured housing shipments rose to a seasonally adjusted rate of 54,000 units, an increase of 3,000 units over August 2011. Placements fell 3,000 from August, and dealer inventory gained 1,000 units, all seasonally adjusted figures. The average price of a manufactured home …
The Manufactured Housing Association for Regulatory Reform (MHARR) and the Manufactured Housing Institute, acting jointly as the Coalition to Advance Manufactured Housing (Coalition), held a 30-minute follow-up conference call Nov. 22, 2011 with Federal Housing Authority (FHA) Commissioner Carole Galante, and Housing and Urban Development’s program manager, Henry Czauski, to …
HousingWire reports the Federal Reserve says the ongoing tepid housing market continues to suppress economic recovery. Minutes from the Nov. 1-2 meeting of the Federal Open Market Committee (FOMC) suggest more “policy accommodation” may be needed to spur the economy.Tight credit, lack of new household formation, and depressed job and …
NationalMortgageNews reports the Office of the Comptroller of the Currency (OCC) says the 12 national banks under regulatory orders to reform their mortgage servicing and foreclosure methods are making progress. Having agreed to the review in April, the banks have streamlined procedures for guiding struggling homeowners through the loan modification …
HousingWire reports John Burns Real Estate Consulting says the excess housing vacancy level reached 3.2 million dwellings in 2009, and has fallen to 2.4 million units, but that will take 3-4 years to occupy. Despite the push by government and industry for more loan modifications, John Burns shows 72 percent …
TheMotleyFool uses the financials of Universal Forest Products, Inc. to demonstrate one measuring device that can be used to analyze the future value of an investment: Following trends in AR (accounts receivable) and DSO (number of days worth of sales owed the company). Problems with ARs and DSOs can spell …
HousingWire reports a bill reinstalling higher conforming loan limits for the Federal Housing Administration (FHA) was singed into law Friday morning, Nov. 18, by President Obama. Both the House and Senate had passed the bill by over a two-thirds majority on Thursday. The FHA can now insure loans up to …
