HousingWire says mortgages 90 days or more past due that are classified as seriously delinquent fell in May 22 percent, and mortgages over 30 days due also fell from 5.9 percent last year to 4.3 percent this May. Still, the Department of Housing and Urban Development (HUD) and the Treasury …
Government Urges Caution even as Seriously Delinquent Mortgages Fall Read More
The Manufactured Housing Institute (MHI) reports in its weekly newsletter that Congressional Republicans are receptive to correcting measures in the Dodd-Frank Act that unfairly impact the manufactured housing industry. Democrats on the House Financial Services Committee have not been as receptive, but ranking Democrat Rep. Barney Frank (D-MA), co-author of …
MHI Gaining Congressional Support to Amend Dodd-Frank Read More
Great Britain’s International Business Times says Jerseyville, Illinois, in the southern part of the state near St. Louis, Missouri, is the site for 32 new modular single-family green homes. Each 1,424 square foot three bedroom home in the Lexington Farms development has the Leadership in Energy and Environmental Design (LEED) …
Green Affordable Modular Housing Rises in Illinois Read More
Market Watch says Sun Communities, Inc., (NYSE:SUI) has declared a quarterly dividend of $0.63 per share for the second quarter 2011, payable July 22, 2011 to shareholders as of July 12, 2011. The company has 21.5 million outstanding shares. Sun Communities, a real estate investment trust (REIT) owns and operates …
In a special report from Joe Kelly of the Iowa Manufactured Housing Association (IMHA), MHMSM.com has learned that State Fire Marshal Ray Reynolds, in commemorating the 100th anniversary of the state fire marshal’s office, wants to make sure every Iowa house has functioning smoke alarms. He met with the IMHA …
The Dow ended the first six months of the year on an uptick, gaining 1.25 percent to close at 12,414.34, as several housing stocks ended the day strong. The Manufactured Housing Composite gained 1.89 percent to close at 1144.10. Skyline Corporation moved up 3.24 percent, Nobility Homes gained 2.83 percent, …
Yahoo! Finance reports The New York Times says in a poll conducted in conjunction with CBS News that nine out of ten Americans still think of home ownership as an important part of the American Dream. As for improving the housing market, 45 percent say the government should be doing …
Americans Still Place High Value on Home Ownership Read More
PR Newswire says UMH Properties, Inc. (NYSE Amex: UMH) has added three manufactured home communities in Tennessee to its portfolio. The 693 home sites on 209 acres cost $13,300,000. UMH now owns 38 manufactured home communities comprising 8,744 home sites in Tennessee, New York, Pennsylvania, Ohio and New Jersey. This …
Reuters reports that Sun Communities, Inc., of Southfield, Michigan, whose portfolio includes 155 communities and 53,500 sites, acquired 17 manufactured home communities and one RV community from Kentland Corporation of Grand Rapids, MI for $142.3 million. The 18 communities are in western Michigan and include 5,042 manufactured home sites and …
Land Lease Community Ownership Conglomerates Again Read More
RealEstateRama says Thayer Long, CEO and president of the Manufactured Housing Institute (MHI), refuted charges by IBIS World Inc., that manufactured housing is a dying industry. While noting the pace of new manufactured homes sales has declined 57 percent in the last five years, the comparable statistic for new single-family …
Thayer Long Responds to IBIS World’s Dire Predictions Read More
The Minot Daily News reports from Minot, North Dakota, that hundreds of manufactured homes were not able to be moved before the raging Souris River overflowed the levees. Wayne Aga, who moves these homes for a living, says he transported 14 in the two days before the flood, and could …
Bloomberg reports shipment of manufactured housing in April fell to a seasonally-adjusted annual rate of 46,000 from 47,000 from March, according to the Census Bureau. The average sales price fell from $59,300 to $56,800 in April. The seasonally-adjusted dealer inventory remained steady at 22,000, while placements dropped from 43,000 to …
The Dow gained 72.73 points to close at 12,261.42 as bank stocks pulled the overall market up. The Manufactured Housing Composite fell .61 percent to end the day at 1122.90. Housing stocks closed mixed. ELS gained .64 percent, Cavco was up .63 percent and Sun Communities climbed .35 percent. Nobility …
The Charlotte Observer reports from North Carolina that Universal Forest Products, Inc., will hire 49 workers upon opening a second facility in Salisbury, NC. With $80,000 in state grant money, this manufacturer of wood and wood-alternative products for the manufactured housing, retail and construction markets will invest $2.6 million over …
HousingWire reports the National Association of Realtors (NAR) says pending home sales rose above year-ago levels for the first time since April 2010, increasing 8.2 percent in May. April 2011 pending sales had decreased 11.6 percent over March, and were down 26.5 percent over April 2010. The NAR’s pending home …
Jason Boehlert at MHI has informed MHMSM.com that the complete final SAFE Act rule is about to be published. The rule will not officially be released in the Federal Register until tomorrow. Deborah Robertson of McGlinchey-Stafford is in the process of compiling a detailed analysis and interpretation of the final …
The Ironton Tribune in southern Ohio reports that a computer glitch caused owners of manufactured homes to receive a tax bill for the first half of the year for a second time instead of a bill for the final six months of 2011. The tax bills for manufactured homes are …
Computer Error Sends Incorrect Tax Bill to MH Owners Read More
The Statesman Journal reports from Salem, Oregon, that Palm Harbor Homes is supplying the Oregon State Fairgrounds with 25 small modular homes to comprise the Oregon Youth Village, replacing a series of dormitories that were structurally unsound. State law requires the State Fair to house 4H and Future Farmers of …
Palm Harbor Supplies State Fair with Modular Homes Read More
MHMSM.com has learned that Chicago-based private equity real estate investment firm Green Courte Partners LLC has named Keith Balowek Managing Director, Parking Acquisitions. With 30 years real estate experience in a number of private and public companies, Mr. Balowek was involved in the acquisition of more than $500 million parking …
The Dow rose 1.21 percent on news of home prices rising in April for the first time in nine months to close at 12,188.69, as some housing stocks gained nicely. The Manufactured Housing Composite rose 2.83 percent to close at 1129.70. Nobility Homes spiked up 9.83 percent, Cavco Industries gained …
Dow Responds to Positive Housing News, Housing Stocks Close Mixed Read More
