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.
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 […]
Attorney General Sues Community Owners Read More
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%.
NorthStar Purchases Sizeable Portfolio Read More
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
Fundraiser for Residents Forced to Move Read More
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,
Florida Community Acquired from Bank Read More
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
Improving Markets Index Holding Steady Read More
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
According to the brightonpittsfordpost, Robert Morgan, founder and CEO of Rochester, NY-based Morgan Management has been named recipient of the 2013 Herbert W. Vanden Brul Entrepreneurial Award by the RIT Saunders College of Business. Honored for 30+ years of successful business in Rochester, the company Morgan founded now employs 950
Morgan Management Founder Honored Read More
MarketWatch reports Denver-based YES! Communities has acquired a portfolio of 64 manufactured housing communities (MHCs) comprised of 14,000 home sites mostly in the Atlanta and Dallas metropolitan markets, but also including Corpus Christi and El Paso, Texas, as well as Las Cruces and Las Alamos, New Mexico. With the completion
YES! Adds to Portfolio Read More
Following up on an earlier post concerning legislation that a California manufactured home owners association is promoting in the state legislature, santamariatimes informs MHProNews SB 510 addresses the conversion of MHCs to resident owned communities/sites and condos. The new measure gives local jurisdictions authority to determine by survey if at
Conversion Statute in the Legislative Mix Read More
In addition to guaranteeing the majority of new residential mortgages across the country, HousingWire informs MHProNews Fannie Mae and Freddie Mac, the GSEs (government-sponsored enterprises), also guarantee half of the outstanding residential mortgage debt, with the private market picking up the other half. While the Congressional Budget Office (CBO) projects
GSEs Winding Down? Says Who? Read More
IMSoup reports from Austin, Texas more people are interested in modular homes this year than in 2012, as the traditionally strong home-buying season begins. Modular Homes Network reports a nearly 25 percent increase in interest in modular homes for March 2013, especially in Houston, Austin, Dallas and San Antonio. As
Texas Going Modular? Read More
According to paloaltoonline, 15 people share three houses, a trailer, a vegetable garden and household tasks in an intentional community, called Greenwave, along a small Palo Alto (Calif.) side street. Owned by three of the members to whom the others pay rent, the three homes are manufactured housing to keep
Intentional Community buys Manufactured Homes Read More
Updating a story we posted Feb. 27, 2013 concerning residents of Wheel Estates MHC in North Adams, Mass. trying to buy their community, iberkshires informs MHProNews the nearly $4 million loan went through, financing managed by ROC (resident-owned communities) USA of New Hampshire. For years residents have allegedly complained the
A graph following the ups and downs of the Dow Jones Industrial Average looks like a series of jagged rocky mountains, as the Dow climbed to nearly 14,625. and dipped as low as 14,552.50, finally settling at 14,606.11, adding +0.38 percent, up 55.76 points for the day, according to CNNMoney.
Drew Industries Gains 3%+; Skyline Falls Read More
According to thenewstribune, Tumwater City Council member Betsy Spath will resign her position effective April 30, 2013 because she is leaving her position as a geriatric care manager for a law office and moving out of state. In addition to protecting manufactured housing communities in the city while on the
Supporter of MHCs Leaving Council Read More
Updating a post from March 22, 2013, we reported on the legislation in the state house the Golden State Manufactured-Home Owners League (GSMOL) in California is promoting, and what has been added. As we stated, AB 1205 would provide mediation services between resident and management to resolve disputes; and AB
Proposed Measure would Challenge Conversions Read More
The providencejournal informs MHProNews the Rhode Island Builders Association Home Show will include a full size modular home for the second straight year. CRM Modular Homes of Johnston, RI will construct the home inside the Rhode Island Convention Center for the show, which is schedules to run from April 4
Modular Home will Return to Show Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) reports statistics from the Dept. of Housing and Urban Development (HUD) reveal production of HUD Code manufactured homes hit 4,151 units in Feb. 2013, six more than the 4,145 in Feb. 2012. Total industry production for 2013 is 3.2 percent higher than
MH Production Holds Steady Read More
MyWestTexas tells MHProNews housing supplier Goliath Industries, responding to the urgency one year ago for oilfield housing, quickly sited 21 leased modular housing units to accommodate 50 workers southwest of Odessa, Texas. From clearing the land to welcoming the first occupants took a mere four weeks, but now the company
Goliath Expanding in Texas Read More
