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.
Two Illinois men have been charged with defrauding investors out of $800,000 in a modular home building scam, the DailyHerald tells MHProNews.com. Richard Osty of Waukegan and Ronald Moore of Wheaton allegedly told investors $1,500 (sometimes more) would get them a loan for a green modular home, a one dollar […]
Pair Accused of Paring Investors in Modular Scam Read More
MarketWatch reports net sales for T.J.T., Inc. fell 24 percent for the second quarter ending March 31, 2012, resulting in a net loss of $286,000 for the quarter compared to a net loss of $296,000 for the same quarter a year ago. Net loss for the six months ending March
Tire, Axle Recycler Rolling Backward Read More
All three indexes ended the last full week of the month on a positive note as the Dow Jones Industrial Average gained 23.62 points, + 0.18 percent, to end the day at 13,228.24, according to CNNMoney. The Nasdaq gained even more, +0.61 percent, to close at 3069.20, while the S&P
Patrick Industries Skyrockets Again! Read More
WOOD-TV reports from Edmore, Michigan the owner of scrapped Erdmore Estates Mobile Home Park is in jail, and cannot respond to any violations. Corey Davy bought the community in 2008 in a bankruptcy sale after the state had revoked the previous owner’s license. Davy went to jail for two years
The End of Erdmore Estates Read More
SBWire reports ModularHomesNetwork (MHN) says the modular housing industry is stabilizing after losing a number of manufacturers in 2011. With more starts this year than last, and growth in the multi-family market, MHN notes Q1 modular housing growth in the New England area, New Jersey, and upper Midwest as well
Modular Home Building on the Rise? Read More
As follow-up to a story we wrote April 18 regarding changes to the MHC code by the San Antonio Quality of Life Committee, which has policy oversight of manufactured homes, Texas Manufactured Housing Association (TMHA) Executive Director J.D. Pendleton led a group of residents and community owners in a meeting
Task Force to Review San Antonio’s MH Code Changes Read More
The DesMoinesRegister says the Republicans and Democrats in the Iowa Legislature are negotiating a still-secret property tax measure, refusing to release any specifics to the public. Critics say it will increase homeowners property tax and cut $100 million annually from local government, which could affect school budgets, police protection, and
Tax Reform Could Lower MH Taxes Read More
Benzinga tells MHProNews.com the Pending Home Sales Index rose to 101.4 in March, up 4.1 percent from the 97.4 figure in Feb. 2012. Based on signed real estate contracts for all types of housing, the Index is 12.8 percent above March 2011 when it was 89.9, according to the National
Signed Sales Contracts=Good Q2? Read More
As the energy and mining industries continue to expand in Canada, creating instant cities that last for 20-25 years and then disband, companies need to quickly get the project up and running while controlling costs, and government wants the economic impact/revenue without environmental upheaval. Instead of the old metal shelters,
Modular Communities Spring Up to Accommodate Energy Workers Read More
All three indexes gained in today’s trading as hopes for more stimulus from the Federal Reserve took center stage over job market worries and mixed corporate earnings, sending the Dow Jones Industrial Average up 113.9 points, +0.87 percent, to end the day at 13,204.62. CNNMoney says the Nasdaq gained +0.69
Patrick Powers Up, Nobility Spikes Read More
MHProNews.com has learned from Reuters MH and RV community operator Sun Communities, Inc. reports net income for Quarter 1 2012 over Q1 2011 increased from $2.4 million to $5.4 million. Funds from Operations (FFO) rose from $18.8 million in the first quarter of 2011 to $25.7 million for the quarter
Sun is Shining Brightly Read More
According to NationalMortgageNews, Lender Processing Services (LPS) reports the national delinquency rate fell six percent from the previous month to 7.09 percent as of March 31, 2012. For the 40 million mortgages analyzed by LPS, March is the third consecutive month the rate has fallen, reaching a new low last
Delinquencies Decline, Foreclosures Take Time Read More
Patrick Industries, Inc. of Elkhart, Indiana reports net sales for the first quarter of 2012 rose 47.8 percent over Q1 2011, to $102.7 million, reflecting a 36 percent increase from MH revenue and 57 percent rise from RV revenue. The company reports net income for Q1 2012 of five million,
Component Supplier does 360 Q1 over last Q1 Read More
The National Association of Home Builders (NAHB) tells MHProNews.com sales of newly built, single-family homes dropped to a seasonally-adjusted annual rate (SAAR) of 328,000 units in March, a 7.1 percent decline from the 353,000 homes in February. NAHB Chief Economist David Crowe says, “The March decline is from a stronger-than-expected
New Home Sales Fall in March Read More
MarketWatch reports the value of U.S. homes rose 0.5 percent Feb. to March 2012, marking the largest increase since 2006 when home values also rose 0.5 percent, according to the Zillow Home Value Index (ZHVI). However, the Zillow Home Value Forecast predicts home values will fall nationally 0.4 percent during
Zillow: Housing Market will Bottom this Year Read More
The VCStar in Ventura, California reports the Ventura County Supervisors have endorsed a measure that protects MHC residents who sign multi-year leases. AB 1938 is scheduled for a hearing in the California State Assembly before an Assembly housing committee. The bill would require MHC operators to provide a one-page summary
Legislation Would Protect MHC Residents Read More
CNNMoney reports a combination of strong corporate earnings from major players like Apple and Boeing, and Federal Reserve Chief Ben Bernanke’s words that the Fed is “entirely prepared to take additional balance sheet actions…should economy require additional support,” gave a strong boost to U.S. stocks. The Dow Jones Industrial Average
Dow Gains, Cavco Gains More, Nobility Falls Hard Read More
DailyCourier reports from Prescott Valley, Arizona the town government will receive $300,000 from the Arizona Department of Housing to fix-up owner-occupied homes and replace aging manufactured houses. The program is designed to help low to moderate-income households remedy building code violations or health and safety issues. MHProNews.com has learned the
Grant Money to Replace Manufactured Homes Read More
Citizens Property Insurance Corp., created by the state to insure manufactured home owners not eligible for private insurance, is coming under fire from the homeowners for raising premiums while cutting coverage. FloridaToday tells MHProNews.com Citizens insures 4,500 of the 4,900 homesites in Barefoot Bay and is now the largest property
MHC Residents Upset with Insurer Read More
Writing in the NationalMortgageNews, Paul Muolo says Mitt Romney has pledged to get rid of the Department of Housing and Urban Development (HUD), which likely would also dismantle the Federal Housing Administration (FHA). “It’s election season….and cutting big government is a red meat move,” writes Muolo. It would have to
Romney to Throw HUD and FHA Under the Bus? Read More
