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.
Kjct8 reports from Grand Junction, Colo. that Philip Lochmiller, Jr., and Shawnee Carver were sentenced to federal prison for their role in a real estate Ponzi scheme that defrauded over 400 people of at least $30 million. Lochmiller is the son of Philip Lochmiller, Sr., who was convicted in July […]
Pair Sent to Pokey for MH Ponzi Scheme Read More
CNNMoney reports the Dow Jones Industrial Average rose nearly 300 points during the day to close at 11,577.05, up 180.05, a gain of 1.58 percent. The Yahoo! Finance Manufactured Housing Composite Value gained 3.42 percent to close at 725.70. Many housing stocks gained also, although some declined. Affiliated Managers Group
Dow Responds to Positive European Bailout Boost Read More
menafn reports Equity Lifestyle Properties (ELS) of Chicago announced a third quarter loss as of Sept. 30 of 0.07 per share, or $2.9 million on a fully-diluted basis. The same quarter 2010 saw a net income of $11.6 million, or 0.37 per share on a fully-diluted basis. Net revenue for
ELS Reports Net Loss Q3 Read More
indystar reports two subsidiaries of Drew Industries, Inc., of New York announce their joint $4 million-plus expansion plan will mean 330 new jobs in Elkhart County, Indiana in 2012. Lipppert Components Manufacturing, Inc., of Goshen, and Kinro Manufacturing, Inc., of Middlebury, IN both manufacture components for the MH and RV
MH Component Sister Companies Produce 330 New Jobs Read More
MHProNews mourns the passing in Hartford, CT of Kristian Jensen, Jr., a logtime MH industry member and ardent advocate. Kris, 78, was instrumental in building the family business as a teenager from a automobile dealership to the current Jensen’s Inc, which owns and manages 29 MHCs in eight states. Kris
Passages…Kristian (Kris) Jensen, Jr. Read More
vcstar reports from Ventura County, California, the owner of a land lease community in Fillmore filed a lawsuit in U.S. District Court alleging the city is preventing her from converting the 55 and older community to for-sale condominium lots open to all buyers and ages. Nancy Watkins, owner of El
MHC Owner Wants to Convert to All-age, City Balks Read More
pressofAtlanticCity reports the opening of a new modular home builder and sales office in Ship Bottom, New Jersey, has been delayed while the state Department of Transportation (DOT) approves changes to the site that once housed a gas station. Developer Nicholas Garofolo has plans for the once-acre site to include
Modular Builder Opening Design Center Near Jersey Shore Read More
Following up on a story we ran in the Daily Business News Oct. 14 regarding the repeal of rent control in a Capitola, CA MHC, Robert S. Coldren, of Hart, King and Coldren of Santa Ana, CA tells MHProNews.com the city’s decision is a victory for good government and property
Rent Control Repeal Brings Relief to MHC Owner Read More
CNNMoney reports the Dow Jones Industrial Average dropped sharply upon renewed fears of European’s debt crisis, falling 247.49 points, 2.13%, to end the trading day at 11,397. The Yahoo! Finance Manufactured Housing Composite Value lost -3.72 percent to close at 701.60, as most housing stocks declined as well.Affiliated Managers Group
More European Debt Fears Foul the Dow Read More
The NorthIslandGazette reports from Port McNeill in British Columbia, Canada, that six new modular units of subsidized housing for seniors will arrive in Port McNeill providing a mis- communication between Mayor Gerry Furney and BC (British Columbia) Housing can be resolved. A recent letter from BC Housing says it will
Mod Units to Ship. Who’s Paying the Tab? Read More
tradershuddle reports from White Plains, NY that Drew Industries, Inc., will release its third quarter financials before the market opens Nov. 2, and then host a webcast for institutional investors and analysts later that day at 11 AM with a Q & A call-in. Other investors, traders and the media
Drew Ind. to Broadcast QE3 Financials Nov. 2 Read More
The Birmingham News reports Section 30 of Alabama’s new immigration law requires residents of land lease communities prove they are legally in the U.S. in order to obtain a property tax decal for the factory-built home they own. Their other options are to move out of state, sell their home,
Alabama MHCs (Mostly) Prepared for New Immigration Law Read More
Jon Sharp, as he was known, passed away surrounded by his loved ones October 11, 2011, following a battle with cancer. A vice president at Onyx Capital Corporation of Los Angeles, Jon, 49, leaves his wife, Stephani, and daughters Maya and Nina to cherish his memory. MHMSM sends it’s most
Passages…Jonathan Douglas Sharp Read More
“It’s obvious that our industry has to develop an Industry Wide Comprehensive Marketing Plan in order to gain acceptance at every economic level and in every geographical region from Coast to Coast. Having seen the MH Alliance plan, this creative approach can help us get that job done.” said C.
Grass roots industry Turn Around plan gains momentum Read More
Capitola-SoquelPatch reports the Capitola (CA) City Council voted 3-2 to repeal its rent control ordinance on MHCs, after twice postponing the vote several months ago. Over a dozen community members and residents protested with signs. Residents of Surf and Sand Mobile Home Park reached their own settlement and agreed not
Rent Control in MHCs too Expensive to Maintain Read More
HousingWire reports from San Francisco that while the number of houses sold increased Sept. 2010 to Sept. this year by 6.6 percent, the usual Aug.-Sept. seasonal drop in home prices was 10.2 percent. John Walsh, president of DataQuick says what’s interesting is what is not happening. He says, “While there
San Francisco: Home Sales Up, Home Prices Fall Read More
CNNMoney reports the Dow Jones Industrial Average responded to good news from the consumer sector, gaining 166.36 points, 1.45%, to end the week at 11,644.49. The Yahoo! Finance Manufactured Housing Composite Value 0.34 percent to close at 728.80. Housing stocks in general closed mostly up. Affiliated Managers Group 85.67 +1.55
Positive Consumer Spending Sends Dow Up Read More
wvlegal reports an improperly recorded financing statement issued by the Gilmer County Clerk’s Office led to a bank being co-defendant in a lawsuit brought against two modular home builders in March 2010. Modular builder New Horizon Home Sales of Athens, WVa, and Gilmer Housing Partners (GHP) allegedly defaulted on a
Bank’s Lawsuit against Clerk’s Office Settled Read More
builder reports a consumer friendly user interface to customize your own modular home is now available on line. Borrowing from automotive and aeronautical design and engineering departments, as well as gaming developers, modular builder Blu Homes of Waltham, MA has developed the Configurator, allowing customers to visualize the interior and
Modular Home Design Course #101 for Buyers Read More
dailytelegraph tells us from Sydney, Australia, the U.S. is not the only country where the gap between income and real estate prices is widening. Sydney’s home prices are expected to rise 19 percent in the next three years, to a median of $770,000. “The big problem with affordability is housing
Australia Looking Closely at Modular Housing Read More
