News Reports: Housing news updates and reports for Manufactured Home and Modular Housing Industry professionals and investors. Business – daily fact checks, market reports, and analysis.
Paul LaMonica of CNNMoney says the Russell Index of small cap stocks is down four percent in Sept., wiping out the gains for the year, driving investors to put their money in blue chips like Merck, Johnson & Johnson, Apple, Wells Fargo, Microsoft and Disney, which are beating the broader …
Affiliated Managers Group Edges Up; Dow Gains over 100 Points Read More
Following a story MHProNews posted Sept. 17 regarding Sun Communities, Inc.’s (SUI) announcement of a public offering to raise shares to help fund its recent $1.32 billion acquisition of 59 manufactured housing communities (MHCs) from Green Courte Partners, LLC, the offering is now closed. The 6,900,000 shares of commons stock, …
While sales of existing homes fell 1.8 percent in August, as MHProNews reported Sept. 23, sales of newly-built, single-family homes rose 18 percent in the same month, hitting a seasonally-adjusted annual rate of 504,000 units. The National Association of Home Builders (NAHB) reports this was the best pace in six …
Updating a post MHProNews last published Sept. 19, 2014 regarding the continuing saga in New York over the stalled 32-story modular apartment complex between developer Forest City Ratner and builder Skanska, construction is idled while counter lawsuits remain in the courts. According to nydailynews.com, Ratner cannot proceed with another contractor …
Design Flaw or Cost Overruns: Forest City Ratner versus Skanska Read More
In honor of Manufacturing Day, with over 1,500 events scheduled around the nation the first week of October, six Deming, New Mexico businesses are leading tours of their facilities, according to demingheadlight.com. Participants in this town in southwest New Mexico will board a morning bus Oct. 2, 2014, and one …
Equity LifeStyle Properties, Inc. (ELS) will pay a cash dividend of $0.325 per share Oct. 10, 2014 to shareholders of record Sept. 24, 2014, marking the third quarter the company has paid the same dividend. The dividend yield is 3.08 percent at the stock price of $42.25, according to nasdaq.com. …
Zacks Forecasts Profitable year for Equity LifeStyle Properties Read More
While current Federal Aviation Administration (FAA) rules prohibit the use of Unmanned Aerial Vehicles (UAVs), commonly called drones, for commercial purposes, the National Association of Realtors (NAR) has sent a letter to the FAA asking for an exception since their motives have nothing to do with safety concerns. The NAR …
For-the-record comments and ‘quotable-quotes’ continue to be sent to MHProNews in anticipation of the 5th Anniversary celebration in October. Here is a sneak peak at one of the growing number of kind comments already in hand. “Over the past 5 years, MHProNews and its family of websites has grown to …
The “Preeminent” Manufactured Housing Industry Professionals News Source Read More
The Manufactured Housing Institute (MHI) reports Centerline Capital Group has changed its name to Hunt Mortgage Group after being acquired by Hunt Companies, Inc. Hunt provides financing for manufactured housing, student housing, co-ops and affordable rental homes. Woody Hunt, Hunt Cos. Chairman and CEO, said, “The acquisition of Centerline was …
Centerline Capital’s new name is Hunt Mortgage Group Read More
For the second day in a row the Dow Jones Industrial Average lost 100 points, falling -116.81 points in today’s trading, -0.68 percent, ending the day at 17,055.87. The Nasdaq slipped -0.42 percent, -19.00 points, to end the day at 4,508.69, while the S&P 500 also fell to mark the …
Skyline Regains Lost Ground; Dow Falls over 100 Points again Read More
Real estate investment trust (REIT) Origen Financial, Inc. of Southfield, Michigan, which manages interests in securitized loan portfolios backed by manufactured housing, will dissolve and liquidate after selling it assets to an affiliate of GoldenTree Asset Management LP for $47 million, according to the Manufactured Housing Institute (MHI). MHProNews has …
Heiden Homes Realty has added Kathy Tompkins as a realtor to the staff in Grand Junction, Colorado, according to gjsentinel.com. Tompkins owns Manufactured Home Parts, established in 2000, and as an unlimited general contractor, specializes in manufactured home sales and construction at Royal T’s Construction, LLC. The company also remodels, …
Realtor Adds Manufactured Home Specialist to Staff Read More
The closing rate for mortgage originations hit a three-year high in August, according to Ellie Mae, which calculated an overall closing rate of 61.1 percent, almost four percentage points higher than July. Ellie Mae’s President Jonathan Corr noted lenders are working hard to maintain leads, as nationalmortgagenews.com reports. The monthly …
The National Association of Realtors (NAR) informs MHProNews that sales of existing homes fell 1.8 percent across the country as investors continue to leave the market, making more homes available for individuals to finance. The South and the West, the two largest markets, both saw declines, offsetting the gains in …
The new head of the Department of Housing and Urban Development, Julian Castro, in his first major policy speech, said lending standards have become too tight and policymakers need to find ways to expand the housing market. Speaking at a housing summit sponsored by the Bipartisan Policy Center, the former …
HUD Head Castro Supports Johnson-Crapo Reform Bill Read More
While protesters marched in the financial district of Wall Street protesting the role of big business in climate change, all three major indexes slipped. The Dow Jones Industrial Average lost -107.05 points, -0.62 percent, ending the day at 17,172.68. The Nasdaq slipped -1.14 percent, -52.10 points, to end the day …
Dow Drops 100 Points; Tracked Stocks all Fall or Remain Unchanged Read More
According to data from the National Association of Realtors (NAR), 27 percent of those purchasing a home for the first time last year received a cash gift from relatives—such as the Bank of Mom & Dad– or friends, an increase from 24 percent in 2012. Meanwhile, rising stock and property …
Updating a story MHProNews last posted Jan. 30, 2014 regarding a 16-year attempt by the residents of Naples Estates (Fla.) manufactured home community (MHC) to purchase their community, Collier County Circuit Judge Hugh Hayes had ruled in favor of the Naples Estates Homeowners Association (NEHA) to seek financing to buy …
Settlement of Sixteen Year Legal Wrangling between Owner and Community Pending Read More
The city of San Diego has offered to pay the residents of De Anza Cove manufactured housing community (MHC) $22 million in relocation expenses plus attorney fees to settle a lawsuit, following eleven years of legal wrangling. The homeowners’ attorney released a statement saying the city’s offer is a good …
Although MHProNews has posted several stories relating to the effect of student debt on home sales, a new study by John Burns Real Estate Consulting, according to The Wall Street Journal, says higher levels of student debt will reduce U. S. home sales by eight percent this year. Studying purchase …
