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.
According to rrobserver, MHProNews has learned Sandoval County (New Mexico) Treasurer Laura Sandoval says nearly half of all manufactured homes in the county, representing 1,905 properties, owe property taxes that are delinquent, totaling $600,000. Of these, 721 homes have unknown addresses or only a post office box; 535 manufactured homes …
Canada.com informs MHProNews MHC owner Larry Gaudreau, noting that communities built in the 1940’s and 1950’s have deteriorating infrastructures that cannot be replaced without moving residents out, says the government needs more affordable housing for these people, as well as to meet future needs. “More than 50 per cent of …
British Columbia needs more Manufactured Housing Communities Read More
The National Association of Home Buyers (NAHB), testifying before the House Financial Services Subcommittee on Housing and Insurance, urged lawmakers to move cautiously in reforming the Federal Housing Administration (FHA) because the tight lending standards are already preventing qualified home-buyers from obtaining mortgages, as MHProNews has learned. NAHB First Vice …
According to vcstar, legislation introduced by state Sen. Hannah Beth-Jackson of California would require that a majority of residents of an MHC favor the conversion of their community into resident-owned homesites, or the plan can be denied. The Ventura City Council voted 7-0 in favor of the resolution, as MHProNews …
As themercury tells MHProNews from Australia, modular homebuilder EMAC Systembuilt Group announces it has acquired Mornington Park Homes Pty Ltd, an affiliate of the now defunct Park Homes group. Mornington was placed in receivership last month after it defaulted on loans. The new venture will be called System Built Homes, …
According to what HousingWire tells MHProNews, 70 percent of lender professionals believe the housing recovery is real, and will continue to improve during the coming six months. Sixty percent of bankers think credit will be available over the next six months for refinancings, and 59 percent say credit will be …
Stocks started the day slow but were energized in afternoon trading as corporate returns began trickling in, pushing the Dow to a new high. CNNMoney reports the Dow Jones Industrial Average advanced +0.41 percent, +59.98 points, to end the day at 14,673.46. The Nasdaq gained +0.48 percent, +15.61 points, to …
Dow Hits New High while most Tracked Housing Stocks Lose Ground Read More
Laurie Maggiano, policy director for the U. S. Treasury’s Homeownership Preservation Office, says many people continue to be left out of the housing recovery, and if fact are still struggling, and how the Obama administration hopes to change that. A partnership between the Treasury and NeighborWorks America will reach out …
Housing Recovery Passing over First-time Prospects Read More
UMH Properties’ stockholders of record on May 15th will receive the benefit of $0.18 per share June 17, representing a yield of 6.79%, according to information MHProNews has received from utahpeoplespost. While The Street downgraded the stock to “hold” from “buy” March 15, it was up Monday April 8 by …
In addressing the strength of the housing market recovery, as HousingWire tells MHProNews, experts expressed different views. Anthony Sanders, professor of real estate finance at George Mason University, says the market is improving, but slow job growth, stagnant incomes (except for the top five percent), and increasing government involvement are …
A coalition of non-profits and consumer organizations are encouraging residents of often modest means to seek co-op ownership as a means to increase equity in their property and control rents in Mass. The patriotledger reports of the 250 manufactured home communities in the state, only 25 have become cooperatives, but …
RVBusiness informs MHProNews Lippert Components, Inc. has asked the Goshen (Ind.) City Council for a tax break to expand its operations and hire 376 more employees by 2016, spending $10 million for new equipment. A division of Drew Industries, Inc., Lippert is a component supplier to the manufactured housing and …
The three major indexes made modest gains in trading today as investors anticipate first quarter corporate returns. CNNMoney reports the Dow Jones Industrial Average nudged up +0.33, +48.23 points, to end the day at 14,613.48. The Nasdaq gained +0.57 percent, +18.39 points, to close at 3,222.25, while the S&P advanced …
As MHProNews reported here earlier today (Mon. April 8), the closing of Hilltop Mobile Home Park in State College, Penn. that led to a musical benefit to help residents, has also led to charges being filed against the owners by the state attorney general’s Bureau of Consumer Protection for allegedly …
According to nreionline (National Real Estate Investor), NorthStar Realty Finance Corp. has acquired a portfolio of 71 manufactured home communities comprised of approximately 17,000 home sites for $865 million. Financed with a $640 million mortgage for ten years at 4.02% fixed, the company expects an initial annual yield of 14%. …
The carrollnews informs MHProNews the Hillsville (Ohio) Town Council has changed several town codes, including the following that applies to non-conforming manufactured homes (using non-conforming spelling): “Removal and replacement of a manufactured home which constitutes a nonconforming used on an individual lot or within a manufactured home park ore removal …
Regulation will Require Replacing Older MH with HUD Code Homes Read More
Updating a story MHProNews covered Sept. 5, 2012 regarding the closing of two MHCs in State College, Penn., a graduate of Penn State University and fellow church congregant with residents of the communities is sponsoring a benefit to assist those displaced by the closings. Musician Pat Elliott has organized the …
The heraldtribune reports MHC Mermaid’s Manor in Bradenton, Fla. has been acquired out of foreclosure by trusts in the name of Harold E. Crye and Hazel Ann Ball for $1.2 million, from BOFI Federal Bank. The 70-site Mermaid’s was previously owned by Tampa’s CPM Properties LLC, managed by Harvey Estes, …
The National Association of Home Builders/First American Improving Markets Index (IMI) informs MHProNews the list of improving housing markets remains virtually unchanged from last month. Five new markets showed improvements in employment, housing permits and home prices for at least six months, while six fell from the ratings. NAHB Chief …
U. S. stocks responded negatively to a report the economy only created 88,000 jobs last month, leading to a drop in the three major indexes, according to CNNMoney. The Dow Jones Industrial Average dropped -0.28, -40.86 points, to end the first week of the new quarter at 14,565.25. The Nasdaq …
Jobs Report Depresses Indexes; Nobility Homes Rises Read More
