Several residents of The Woodlands manufactured home community (MHC) in Lockport, New York were told two years ago that the owner of their community would repair cracks that had begun appearing in the walls, ceilings and floors of their manufactured homes (MH). Although Equity LifeStyle Properties owns the community, but …
Work has Begun to Repair Manufactured Homes in Land Lease Community Read More
MHProNews has learned Interfaith Housing Services in Hutchinson, Kansas has received two parcels of land from the Hutchinson Land Bank to construct two modular homes. The non-profit only had to pay closing costs, according to hutchnews. Interfaith’s director of operations, Ron Fisher, said the three-bedroom, two-bath homes will each have …
Last month the Mashantucket Pequot Tribe in Connecticut broke ground on an affordable housing project of four modular units that will be ready for occupancy in September. There had been a rental housing wait list for years that produced few results. The tribe’s Housing Committee recently replaced it with selection …
Indian Tribe Installing Modular Homes on Reservation Read More
Suggesting the delay may be beneficial to both lenders and consumers, the Consumer Financial Protection Bureau (CFPB) has delayed for a second time the launch of the integrated disclosures for residential mortgage loans under the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA). It is …
CFPB Postpones Implementation of Know Before You Owe Read More
Already the largest presence in the U. S. mortgage market, Wells Fargo (NYSE:EFC) is expanding its ambitions in the commercial real estate market, and more specifically, in the manufactured home community (MHC) sector. The acquisition of a $9 billion commercial loan portfolio from General Electric has imbued Wells Fargo with …
Wells Fargo Actively Pursing the Manufactured Home Community Loan Market Read More
MHPronews has learned from couriermail Ingenia Communities Group has acquired manufactured home community Upstream Bethania in its target market of Brisbane, Australia, and very near to Chambers Pines Lifestyle Resort, another recent purchase. The newest acquisition has 54 developed homesites, and work will begin immediately on the 74 additional approved …
Australia’s Ingenia Acquires Manufactured Home Community in Brisbane Read More
According to official statistics released by the U. S. Department of Housing and Urban Development (HUD), production of HUD Code manufactured homes hit 5,798 in May, 2015, a modest increase of 1.1 percent over the 5,733 homes built in May of 2014. However, industry production on the year is 8.8 …
May Manufactured Home Production Shows Modest Gain Read More
While the startribune informs MHProNews that manufactured homes (MH) were the original affordable housing in rural and suburban Minnesota, in the twin cities area of Minneapolis-St. Paul the number of occupied MH has fallen 12 percent since 2001 to 13,660 homes. Nationally, the number of manufactured homes shipped dropped drastically …
Demand Continues for Manufactured Homes in the Twin Cities Read More
A study by the Institution of Mechanical Engineers (IME) in Great Britain reiterates the need for 250,000 new homes each year for the next decade, as MHProNews reported July 2, 2015 instead of the 120,000 new units currently being produced, according to telegraph.co.uk. IME suggests modular homes would ease the …
Our goal in presenting news and views from the manufactured and modular home industry is to help you, our readers, make the best possible decision in your business. To that end, we continue to upgrade our presentation to better inform you. In this week’s news you will read of developments …
Manufactured Housing’s Sunday Morning Weekly News Recap June 28 to July 5, 2015 Read More
While many housing numbers are showing sometimes staggered but overall general improvement, employment in the residential construction industry dropped by 6,100 jobs last month, the weakest numbers in five years. Residential specialty contractor jobs increased by 3,700 jobs, resulting in a net loss of 2,400 slots. The three-month moving average …
With buyers experiencing difficulties finding financing to buy manufactured homes (MH), UMH Properties, Inc. (NYSE:UMH) President and CEO Sam Landy says the company is doing well with rentals and expects occupancy rates to reach “high 90 percent,” according to reit. Noting that the company intends to add 500 rental units …
Rentals Increasing for UMH; Date Set for Releasing Q2 2015 Results Read More
Low-income Vermont homebuyers interested in purchasing a high performance modular home made by Vermod of Wilder, Vermont may be eligible for a 30-year mortgage at 3.25 percent interest if the home is sited in a manufactured home community (MHC). Under the USDA Energy Efficient Manufactured Home Pilot Program, if the …
Low Interest Mortgages Offered to Manufactured Home Community Residents Read More
Noting that the current rate of homeownership of 63.8 percent is the lowest since 1989, A. Mechele Dickerson writes in nationalmortgagenews that the housing industry needs to be more creative in the housing it builds, and local jurisdictions need to be more flexible in the types of housing allowed in …
Home Ownership for Millennials could Lead to Manufactured Homes Read More
After spending a day cleaning up debris around Wimberly, Texas, in the wake of the flooding that ravaged parts of the state, Alberto Pina, general manager of Mobile Homes Direct 4 Less, is offering new manufactured homes at cost to people who lost their homes, according to PRWeb. “The pictures …
Texas Dealer Offering Manufactured Homes at Cost to Flood Victims Read More
Hitting the highest rate since Feb. 2008, new single-family home sales in May 2015 rose 2.2 percent, hitting a seasonally annual-adjusted rate (SAAR) of 546,000, based on data released by the Department of Housing and Urban Development (HUD) and the Census Bureau. The rate was 19.5 percent above last May’s …
New Single-Family Home Sales Reach Highest Point in Seven Years Read More
A Missouri Supreme Court decision from two years ago that made the sale of used manufactured homes (MH) taxable has been reversed and signed into law by Governor Jay Nixon. Introduced by Rep. Sandy Crawford as HB 111, the sale of used MH had not been taxable for the 20 …
At an average price of $500,000, wealthy foreigners bought a record $104 billion of U. S. residential real estate between April 2014 and March 2015, according to cnbc, accounting for eight percent of existing home sales. The National Association of Realtors (NAR) reports Chinese were the biggest purchasers attributable for …
Affluent Foreigners Purchased over $100 Billion in U. S. Real Estate Read More
The National Association of Realtors (NAR) reports sales of existing homes rose 5.1 percent in May over April to their highest level since 2009. Existing home sales in May were 9.2 percent over May 2014, according to bizjournals, and year-over-year sales have risen for the past eight months. In addition, …
Existing Home Sales, First-Time Home Buyers both Rise Read More
In manufactured housing news, UMH planning MHC as other MHCs closing, programs help MH buyers, MHC sells for $98k per homesite, Texas reports MH sales. In modular news, Magnolia Homes may be revived, Brad Pitt moves mods to Indian Rez, Mods house Irish homeless, micro mods go urban. In company …
Sunday Morning Recap June 14, 2015 to June 20, 2015 Read More
