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Two LLCs Among Top REITs in Cash Flow

Zacks reports that SmarTrend says of the five top residential real estate investment trusts (REITs) with the highest free cash flow (FCF) per share, two are land lease community (LLC) owners.  Equity Lifestyle Properties ranks in the top spot with free cash flow per share of 3.76x, and is also …

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Foreclosures Provide Slippery Slope for Home Prices

Bloomberg says the S&P (Standard & Poor) Case/Shiller index of home prices fell in March 3.6 percent from March 2010, registering the biggest year-to-year decline since November 2009.  Housing prices are the lowest since 2003 according to this survey of 20 U.S. cities.  The first quarter of the year saw …

Foreclosures Provide Slippery Slope for Home Prices Read More

English Firm Develops Affordable Modular Housing

The United Kingdom’s 24Dash reports that Powerwall has developed a three-bedroom energy efficient modular house for £57,000 (just under $95,000), excluding land and foundation, to help meet affordable housing needs in England.  The house comes equipped with finished interiors, bathrooms and kitchens, and the estimated annual fuel cost is just …

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Three Manufactured Housing Stocks on the Buy List

SmallCap Network recommends three manufactured housing stocks as smart buys , because at some point the housing industry will pick up, and now is the time to “join the party.”  It says Cavco Industries, Inc. (NASDAQ:CVCO), is a good buy for the short term, but not the long term.  The …

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Boston’s Sole Community of Factory-built Homes Gets Good News

The Boston Globe reports the only community of factory-built homes in Boston sits on the Charles River and is owned by the residents.  The 104 unit community just received word from Mayor Thomas Menino that the city will invest $815,000 to upgrade sewers, roads and electric power lines.  The article …

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Price Modular Green Housing Reasonably, says Architect

The San Diego Union-Tribune reports that architect Michelle Kaufmann, termed “the Henry Ford of green homes” by the Sierra Club, says in order to attract people to energy efficient modular homes, we have to make it less expensive to live in than what people are paying now.  She says we …

Price Modular Green Housing Reasonably, says Architect Read More

Stock Market Ends Light Before Long Holiday Weekend

Stocks finished the week with modest gains, with trading volume light ahead of the long holiday weekend.  The Dow closed up .31 percent on light volume to end the week at 12,441.58, while housing stocks closed mixed.  MSCI gained .52 percent, Sun communities was up .44 percent, and ELS posted …

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Sale of Previously Occupied Homes Half that of 1963

Yahoo! Finance reports the index that measures sales agreements for previously occupied homes fell 11.6 percent in April to 81.9, according to the National Association of Realtors (NAR).  A count of 100 is considered healthy.  The last time the index hit 100 was April 2010, the last month when people …

Sale of Previously Occupied Homes Half that of 1963 Read More

Manufactured Housing Shipments Increased for March

Bloomberg reports that manufactured housing shipments for March rose at a seasonally adjusted rate to 47,000, up 3,000 over February, and the highest in six months.  On a seasonally adjusted rate, placements dropped 5,000 units February to March, and dealer inventory remained stable at 22,000.  The average sales price increased …

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Under-utilized MH Community Program to Be Revised

The Manufactured Housing Institute (MHI) says it and the National Communities Council (NCC) met with Housing and Urban Development (HUD) representatives to discuss a federal program to develop and rehabilitate manufactured housing communities.  Federal Housing Administration’s (FHA) 207(m) is a mortgage insurance program for owners and developers to obtain financing. …

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Business is Good for New Modular Builder

WNEP 16 reports from east central Pennsylvania that a modular home builder near Selinsgrove moved into a facility vacated by a previous modular home builder last year in Snyder County.  Durabuilt owner Kevin Hahn says they have already hired 20 additional workers since opening, increasing production by 40 percent.  Despite …

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Home Builders Want Government Mortgage Backstop

NAHB (National Association of Home Builders) First Vice-chairman Barry Rutenberg says while the NAHB supports modernizing the nation’s housing finance system, it opposes several bills in the House and Senate that would end Fannie Mae and Freddie Mac without providing some type of government backstop.  He says, “Maintaining a continuing …

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“Housing Built in Alabama for Alabama Citizens”

“Housing Built in Alabama for Alabama Citizens,” is what Sherry Norris, Executive Director of the Alabama Manufactured Housing Association says about an exciting project taking place right now.  She sent word to MHMSM that two blocks of dilapidated housing were cleared in Montgomery, Alabama, to make way for a series …

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Dow Edges Up Cautiously, Housing Stocks Mostly Up

The Dow moved slightly higher on positive technology sector news, gaining 8.1 points to close at 12,402.76, while housing stocks gained or remained flat.  Palm Harbor Homes was up 4.76 percent, Cavco gained 1.13 percent, Skyline Corporation moved up 1.03 percent, Sun Communities was up .76 percent and ELS gained …

Dow Edges Up Cautiously, Housing Stocks Mostly Up Read More

FHA Getting Tougher on Claims?

National Mortgage News reports the Federal Housing Administration (FHA) is cracking down on lenders it thinks have taken shortcuts, denying claims and even threatening lawsuits.  Although much of the action results from the bubble years activity, it is giving pause to those seeking to make new FHA-backed loans.  Foreclosure-related claims …

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Errata on Carlyle Group’s Eclectic Investment Mix

It was brought to our attention by a reader that in a story we reported May 20, we mistakenly identified Carlyle Group, headquartered in Hollywood, California, with The Carlyle Group, a private-equity firm headquartered in Washington, D.C.  Carlyle Group, of California, is an asset management firm that manages 5,000 Land …

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MHC Residents Circulating Petition to Overturn Council Vote

Following up on a story we published May 5, the North County Times says the Oceanside, California City Council voted 3-2 to reaffirm two earlier votes ending rent control for the residents of the 18 Land Lease Communities in Oceanside.  The ordinance would apply only to new occupants of the …

MHC Residents Circulating Petition to Overturn Council Vote Read More

Case Dismissed – MHC business in the news

MHMSM has obtained the Notice of Dismissal in Case 10-45772 Doc 178 Filed 05/18/11 Sunset Village Limited Partnership.  Sunset Village is a community owned by Capital First Realty, Inc. based in Chicago.  The case was filed in the United States Bankruptcy Court, Northern District of Illinois, Eastern Division.  Sources close …

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New Modular Home Dealer Opens in Delaware

The Sussex Countian reports the opening of a brand new modular home dealer in Georgetown, Delaware.  Two Sussex Central graduates have opened Peninsula Homes between Georgetown and Millsboro near the Eastern Shore, and offer over 100 variations for the homes.  Turnaround time is six to eight weeks.  Co-owner Eddie Ghabor …

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MH Community Residents Protest Rate Increase

The Palm Beach Post reports that over 100 residents of manufactured communities in Florida attended a Florida Public Service Commission (FPSC) hearing regarding Aqua Utilities Florida Inc.’s request for a rate increase.  The FPSC has conducted a series of public meetings attended by hundreds of customers since October to complain …

MH Community Residents Protest Rate Increase Read More

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