HousingWire informs MHProNews, as the inventory of available homes continues to drop—Capital Economics says there are only 2.7 million units on the market, the sixth lowest in 30 years– homebuilders are patiently waiting for renters to transition into buyers. According to a survey by Opinion Research Corp. on behalf of …
In their monthly report, the Manufactured Housing Institute (MHI) informs MHProNews the 4,190 MH shipped in Jan. is a 6.2 percent increase in production of manufactured homes in Jan. 2013 over Jan. 2012, representing a rise in both single-section as well as multi-section homes. Total floors shipped in Jan. 2013 …
Number of MH Plants and Corporations Remains the Same Read More
CNNMoney tells MHProNews according to RealtyTrac 4.8 million borrowers have lost their homes to foreclosure since the housing bubble, and another 2.2 million let go of their homes in short sales. But many of them are coming back, and they are searching for a new place to live. Veterans Administration …
According to originationnews, economists at Wells Fargo Securities have suggested that institutional investors account for 20 percent of existing home sales, but as the inventory of preferable distressed properties declines, investors may pull back from the market. Traditional homebuyers who need mortgages are not returning to the market in numbers …
U.S. employers added 236,000 jobs in February, including 48,000 construction jobs, reflecting the upswing in the housing market. As MHProNews has learned from CNNMoney, the unemployment rate dropped to 7.7 percent, its lowest level since 2008. In the last five months builders have added 151,000 construction jobs, the highest number …
The American Banker informs MHProNews the Federal Housing Administration (FHA) is issuing its own QM rule because the Consumer Financial Protection Bureau (CFPB)’s may conflict with the FHA’s Single-Family Program. HUD spokesman Brian Sullivan states FHA has the authority under Dodd-Frank to create its own ability-to-repay rule, and will be …
As washingtonpost informs MHProNews, while Fannie Mae and Freddie Mac have been vilified for allegedly causing the financial meltdown, for being bailed out by the government to the tune of $131 billion, and for taking business from private firms, neither the Democrats nor the Republicans are actively doing much to …
MarketWatch tells MHProNews NeighborWorks America, a non-profit which bills itself as the foremost trainer of affordable housing professionals, says research shows that homebuyers who receive pre-purchase counseling from them are almost one-third less apt to get behind in their mortgage 90 days or more within the first two years of …
Pre-purchase Counseling Leads to Fewer Foreclosures Read More
HousingWire informs MHProNews the Federal Reserve’s February Beige Book of growth in economic activity indicates the real estate market in almost all the districts recorded strong improvement as inventories shrank and home prices rose. While in Philadelphia low-end prices were firm or rising and the prices of high-end homes were …
According to Anthony Randazzo, director of economic research at Reason Foundation, the federal government’s continued belief that everyone should own a home is what created the housing bubble in the first place, and it could happen again. Writing in the Orange County Register, he says with Fannie Mae and Freddie …
Eliminating GSEs could Still Leave Taxpayers Exposed to Risk Read More
The National Association of Home Builders (NAHB) reports the Census Bureau’s biennial survey “Characteristics of Home Buyers” which covers 6.8 million home sales in 2009 and 2010, reveals price and proximity to work were the overriding concerns for first time home buyers. “The majority of trade-up buyers (36%),” says NAHB’s …
According to nationalmortgagenews, Fiserv Case Shiller predicts by the end of the year home prices will be on the rise in every metro area in the U. S., and conditions point to a continuous recovery in the housing market through 2017. Fiserv says the data that shows price increases were …
The dailyfreeman informs MHProNews that a modular home on the verge of being sold to a low-income family in Kingston, NY is the center of some controversy, due to the former mayor’s connection to the company that originally sold the home to the city and Ulster YouthBuild in 2011. The …
The setexasrecord tells MHProNews an east central Texas woman has filed suit against Oak Creek Homes of Vidor, TX accusing the dealer of deceptive trade practices and breach of warranty for a manufactured home she bought in Sept. of 2010 for $55,406. Noting the home has been repaired ten times …
According to the National Association of Home Builders (NAHB), even as the housing market begins to improve, the bottleneck of tight credit for builders as well as for consumers remains an obstacle to a much more robust recovery. Some materials producers closed plants and idled workers, and they are reluctant …
Speaking at a webinar about the improving housing market, Raj Dosaj, vice-president of the behavioral library and home price index at LPS Applied Analytics, says home prices could rise 35 percent without being beyond affordability. Displaying a graph that showed the ratio of the average mortgage payment to median income …
2012 saw underwater borrowers turn to short sales by a three to one margin over foreclosures, CNNMoney tells MHProNews. Foreclosures accounted for 11 percent of all sales, a drop from 13 percent the previous year, while short sales rose five percent year-over-year to 32 percent. Noting foreclosures on average in …
Rise in Short Sales Increases Price of Distressed Homes Read More
ValleyMorningStar reports from Austin, TX, State Senate Bill 499 would streamline the process that allows MH owners who have un-imbursed legal claims against MH dealers to access reimbursement from a fund established by the state. The Manufactured Homeowners Recovery Trust Fund pays actual damages through a budgeted $300,000 yearly fund. …
CNNMoney informs MHProNews that home foreclosure may not end a borrower’s monetary responsibility if the bank does not transfer the deed or hold an auction. Almost two million properties started but never completed the foreclosure process, which can leave the borrower holding the bag for property taxes, fees, and association …
Due to the low inventory of previously-owned homes, the National Association of Realtors (NAR) predicts existing home sales will reach five million this year, a 7.3 percent increase from last year, although total sales for the year will rise less than in 2012, as originationnews informs MHProNews. Tight inventories are …
