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.
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
As the Dow fell short of its all-time high, investors backed away from U. S. stocks as tepid economic data trumped the drop in first-time unemployment claims. CNNMoney reports the Dow Jones Industrial Average rolled back slightly from its new five-year high, dropping -0.15 percent, -20.88 points, to end the …
Dow Falls Short of Record; Tracked Housing Stocks Lackluster Read More
Updating a story we posted Jan. 25, 2012, about a marina development in Poquoson, Vir. that included a 50 site MHC, the dailypress informs MHProNews the entire Whitehouse Cove project is flourishing. While so far only 13 of the homesites are occupied, eight more are committed and the developer thinks …
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. …
RnRMarketResearch reports demand for prefabricated housing will expand 15 percent annually through 2017, but manufactured housing’s share of that will fall as conventional mortgages become easier to obtain. The study, based on data from 2002, 2007, and 2012, is combined with current market conditions, industry structure and competition in its …
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 …
OurMidland reports grants from two community development organizations have helped the United Athletes Foundation (UAF) launch their $100 million tax credit equity fund program to invest in low to moderate mixed-income residential rental properties throughout the nation, and encourage corporations to do the same. A 501 © (3), UAF is …
Stocks rallied on hump day, rising throughout the trading session, in response to news that pending homes sales in Jan. rose to their highest level in almost three years, and Federal Reserve Chairman Ben Bernanke’s testimony before Congress that the Fed’s bond buying policies would continue to support the economy. …
As statesmanjournal informs MHProNews, the Silverton (Ore.) Planning Commission voted to approve an application by Universal Forest Products, Inc. (UFPI) to move into the former Champion Homes’ Redman Housing facility in the city’s industrial park. The wood-product manufacturing plant would consolidate operations now being conducted at nearby Woodburn and McMinnville, …
MH Component Supplier to take over former MH Plant Read More
The Department of Housing and Urban Development’s (HUD) report to Congress Feb. 22, 2013, which focuses on housing problems faced by very low-income families, found in 2011 almost 8.5 million families either paid more than half their income in rent and/or lived in substandard housing. MHProNews has learned this is …
As virtual-strategy tells MHProNews, the Modular Building Institute (MBI) and the Pratt Institute School of Architecture will co-host an all-day modular construction summit in Brooklyn, NY on May 16, 2013 at the Institute. As interest in modular techniques continues to rise, the gathering will debunk the myths and present the …
From Freehold, NJ, gmnews reports Gene Landy and Sam Landy and UMH Properties, Inc., have been honored by the Monmouth (NJ) Council, Boy Scouts of America, for their leadership and philanthropy in support of the scout movement. Council President Kurt Kalafsky said, “This recognition reflects Gene and Sam’s dedication to …
Under Massachusetts law, MHC residents have the opportunity to match an offer by a third party to buy their community once it is offered for sale. Wheel Estates’ owner Morgan Management has a signed purchase agreement from Real Estate Seekers LLC for $2.73 million for the North Adams, MA community …
The National Association of Home Builders (NAHB) informs MHProNews, according to figures released by HUD and the U. S. Census Bureau, sales of single-family, newly-built homes increased 15.6 percent in January to a seasonally-adjusted annual rate (SAAR) of 437,000 units. Every region experienced solid gains in new home sales—27.6 percent …
Recordonline informs MHProNews owners of pre HUD Code homes in Fallsburg, NY, just south of the Catskill Mountains may have their homes replaced with new, energy efficient manufactured homes. Under a state grant, up to ten aging manufactured homes will be replaced, providing the applicant owns the home and the …
An addition to the list of companies converting shipping containers into modular homes is Danish architectural firm Arcgency, which allows buyers to customize their homes as to size, layout, design, and interior. Gizmag tells MHProNews the shipping containers are stacked two-high with a sloped roof to catch the sun for …
Positive economic data and Fed Chairman Ben Bernanke’s words to Congress indicating the bond-buying program of the Fed will continue helped stocks regain some of their losses yesterday. CNNMoney reports the Dow Jones Industrial Average regained +0.84 percent of the 1.55% lost yesterday, +115.96 points, to end the day at …
In the 77th Oregon Legislative Assembly, the Senate is considering a measure that would punish unscrupulous “manufactured structure” dealers by revoking their license for up to five years, which includes all factory-built residential and commercial buildings. It would put the industry on the same legal footing as building contractors. As …
If you wanted to exhibit at the Tunica Manufactured Housing Show the end of March, it’s too late, says Dennis Hill of Showways. The 80+ manufacturer displays and 101 service and supplier booths have been taken, and registration to attend is already up 135 attendees over the same time in …
Tunica Show Registrations Roar ahead for Sale Event in 2013 Read More
