home buyers

Strong Loan Performance from Manufactured Home Mortgages

By / March 25, 2013 / Advocacy, Finance, home buyers, Manufactured and Modular Housing News, Manufactured Homes

RuralHome.org informs MHProNews the Corporation for Enterprise Development (CFED), a non-profit dedicated to expanding opportunity for low-income families and communities in the U. S., reports manufactured home borrower repayment records are comparable to site-built mortgage borrowers, and in some cases were better than comparable general mortgage portfolios. CFED’s report, Toward …

Strong Loan Performance from Manufactured Home Mortgages Read More

Oklahoma Revises Manufactured Home Installation

By / March 22, 2013 / Advocacy, Communities, home buyers, Manufactured and Modular Housing News, Manufactured Homes

The Manufactured Housing Association of Oklahoma (MHAO) tells MHProNews the rules on the installation of new and used MH have been revised. New homes have to follow the plans laid out by the manufacturer or the engineer/architect, and the homeowner is not responsible for site preparation. For used homes, the …

Oklahoma Revises Manufactured Home Installation Read More

Feb. Marks Best Home Sales since 2009

By / March 22, 2013 / Business, Economy, home buyers, Manufactured and Modular Housing News, Trends

Very much in line with what we have been hearing, CNNMoney tells MHProNews the National Association of Realtors reports the sale of existing homes reached a seasonally-adjusted annual rate (SAAR) of 4.98 million in February, ten percent above February 2012 but only slightly better than January 2013. It was the …

Feb. Marks Best Home Sales since 2009 Read More

Home Sales Rising in Sunshine State

By / March 24, 2013 / Business, Economy, home buyers, Manufactured and Modular Housing News, Trends

According to nationalmortgagenews, home sales in Florida are up over ten percent in Feb. compared to Feb. 2012, marking the 14th consecutive month of increasing year-over-year sales. Pending sales are up 27 percent for the same time period, and the median sales price of $150,000 has risen 13 percent from …

Home Sales Rising in Sunshine State Read More

Hard Hats May be Hard to Find

By / March 21, 2013 / Business, Economy, Factory-Built Homes, home buyers, Manufactured and Modular Housing News, Modular, Trends

BuilderOnLine tells MHProNews that at the International Builders Show in Las Vegas in Jan., Champion Enterprises’ Director of Marketing, Kevin Flaherty, was surprised at the standing-room-only turnout for his presentation on modular housing. As the housing recovery continues to take hold, and the construction industry is trying to regroup some …

Hard Hats May be Hard to Find Read More

Manufactured Home Sales Double in Small Market

By / March 21, 2013 / Economy, home buyers, Manufactured and Modular Housing News, Manufactured Homes, Trends

From the dead center of Washington state, wenatcheeworld informs MHProNews the sale of houses priced at $250,000 or below sparked a 40 percent increase of home sales over the first two months of 2012, typically one of the slower periods of the year. “Put an entry-level home on the market …

Manufactured Home Sales Double in Small Market Read More

15 More Housing Markets on the Upswing

By / March 21, 2013 / Advocacy, Economy, home buyers, Manufactured and Modular Housing News, Trends

The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) for March marks the second consecutive month in which every state is represented on the improving markets list by at least one metropolitan market. The IMI gauges increases in employment, housing permits, and housing prices for six consecutive …

15 More Housing Markets on the Upswing Read More

New Home Sales Best in Six Years

By / March 21, 2013 / Economy, home buyers, Manufactured and Modular Housing News

HousingWire informs MHProNews Freddie Mac says this spring homebuying season will be the best since 2007, with home sales increasing 8-10% and housing starts rising to 950,000 units, compared to 2012’s 780,000 starts. Frank Nothaft, chief economist and vice president of Freddie Mac says, “It will be the gradually declining …

New Home Sales Best in Six Years Read More

Fallout from the Improving Housing Market

By / March 20, 2013 / Business, Economy, home buyers, Manufactured and Modular Housing News, Trends

The nytimes informs MHProNews the turnaround in the housing industry has led to such a shortage of existing homes for sale that would-be buyers in some areas are reluctant to list their homes for fear it will sell before they can find a replacement. Others are waiting to see how …

Fallout from the Improving Housing Market Read More

Modular Homes Rising near Baltimore

By / March 20, 2013 / Business, Economy, Factory-Built Homes, home buyers, Manufactured and Modular Housing News, Modular, Trends

According to baltimoresun, while new home construction is on the rise in Harford County, MD just northeast of Baltimore, it is well below the 1,800 to 2,000 residential permits issued in the early 2000’s. In 2012 the county issued 450 residential building permits for modular homes, townhomes, apartments and condos, …

Modular Homes Rising near Baltimore Read More

Bi-partisan Measure Introduced to Ease Tight Credit

By / March 19, 2013 / Advocacy, Economy, home buyers, Legal, Legislation, Manufactured and Modular Housing News, People

The National Association of Home Builders (NAHB) reports bipartisan legislation has been introduced in the House of Representatives to ease credit for the nation’s home builders. Sponsored by Reps. Carolyn McCarthy (D-NY) and Gary Miller (R-CA), H. R. 1255, the Home Construction Lending Regulatory Improvement Act, would address regulatory obstacles …

Bi-partisan Measure Introduced to Ease Tight Credit Read More

Housing Starts and Permits Build

By / March 19, 2013 / Business, Economy, home buyers, Manufactured and Modular Housing News, Trends

CNNMoney says building permits spiked 34 percent from Feb. 2012-Feb. 2013, and rose five percent from Jan. 2013, the top month for permits since June 2008, according to Census Bureau figures. While the permits amounted to an annual rate of 946,000, housing starts hit an annual pace of 917,000 in …

Housing Starts and Permits Build Read More

State Attorneys General: Replace DeMarco

By / March 18, 2013 / Advocacy, Finance, home buyers, Legal, Manufactured and Modular Housing News, People, regulation

HousingWire informs MHProNews a letter from prominent state attorneys general is calling on President Obama to replace Edward DeMarco, the acting head of the Federal Housing Finance Agency (FHFA), because they say his policy of refusing to allow principal reductions on loans backed by the GSEs that could result in …

State Attorneys General: Replace DeMarco Read More

Modular Mixed with Stick-built

By / March 18, 2013 / Business, Company News, Factory-Built Homes, home buyers, Manufactured and Modular Housing News, Modular

MHProNews has learned from grandforksherald Genco Bakken Development is planning 200 affordable housing units in Grand Forks, ND in the northeast corner of the state. Genco finalized the purchased of 71 lots, named Thames Court, from the Grand Forks Housing Authority this month and intends to begin as soon as …

Modular Mixed with Stick-built Read More

Builder Confidence Wanes

By / March 18, 2013 / Business, Economy, home buyers, Manufactured and Modular Housing News

Single-family home builder confidence slipped for the third consecutive month, falling two points to 44 for March, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). MHProNews has learned any number above 50 indicates the outlook for the next six months is good rather than poor. …

Builder Confidence Wanes Read More

Survey: The Dream is Alive!

By / March 17, 2013 / home buyers, Manufactured and Modular Housing News

HousingWire informs MHProNews that 87 percent of the respondents in a recent survey by JPMorgan Chase say home ownership remains part of their dream. Seventy-five percent envision owning a home as crucial to raising a family, and 66 percent believe it is a good investment. Compared to six months ago, …

Survey: The Dream is Alive! Read More

Modular Builder Accused of Ponzi Scheme

By / March 16, 2013 / Business, Company News, Factory-Built Homes, home buyers, Legal, Manufactured and Modular Housing News, Modular, People

According to capenews in a report from eastern Mass., a modular home builder in Marstons Mills, Donald B. Shulman, has been accused of essentially running a Ponzi scheme, with sufficient complaints to have generated a blog entitled “RDA (Realty Development Associates) Donald Shulman Victims.” Monthly meetings are attended by people …

Modular Builder Accused of Ponzi Scheme Read More

Measure to Clarify 3% Cap

By / March 14, 2013 / Advocacy, home buyers, Legal, Legislation, Manufactured and Modular Housing News, regulation

NationalMortgageNews reports with the mortgage industry complaining that the qualified mortgage (QM) rule issued by the Consumer Financial Protection Bureau (CFPB) will hinder hundreds of thousands of potential borrowers from obtaining a QM loan, HR Bill 1077 clears up the three percent cap on points and fees in the QM …

Measure to Clarify 3% Cap Read More

Modular Builds in Mountains

By / March 14, 2013 / Business, Factory-Built Homes, home buyers, Manufactured and Modular Housing News, Modular

Kiplinger informs MHProNews a Virginia couple wanted to build a home in a mountainous area but could not get county approval for nearly two years because of the steep slopes, succeeded in having a 2,200 square foot custom modular home installed. Built by Jakobsen and Rowe of Purcellville, Vir., the …

Modular Builds in Mountains Read More

Loan Apps fall as Rates Rise

By / March 13, 2013 / Business, Economy, home buyers, Manufactured and Modular Housing News

According to originationnews, home loan applications followed by the Mortgage Bankers Association (MBA) fell 4.7 percent on a seasonally-adjusted basis, fed by a boost in employment figures that led to the 30-year fixed mortgage rate (FRM) reaching its highest level since August, 2012. The average for conforming 30-year FRMs rose …

Loan Apps fall as Rates Rise Read More

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