As follow-up to a story we posted March 16, 2012, a developer, Dan Coen, had proposed two modular housing developments comprised of 31 four and eight-person living quarters to house oil and gas workers in the energy boom now hitting the Carrollton County, Ohio area. Land that leased for $5 …
A May 7 email from the Manufactured Housing Association for Regulatory Reform (MHARR) recounts a letter sent April 26, 2012 from the Housing and Urban Development (HUD) concerning an increase in design values for Southern Yellow Pine to take effect June 1, 2012. MHARR’s response to HUD says HUD needs …
As follow-up to a story we posted May 3, 2012, after a very long debate, the Delaware Senate finally passed Senate Bill 205 that limits rent increases in MHCs to changes in the consumer price index (CPI). Higher increases would need to be approved by an advisory board to the …
Reuters reports Standard and Poor’s Rating Services has assigned its senior debt rating of AA+ to Berkshire Hathaway Finance Corporation (BHFC) $1.6 billion note offering. The rating is actually based on parent company Berkshire Hathaway’s “extremely strong competitive position, very strong earnings, very strong liquidity position, and conservative financial leverage.” …
In reference to a story MHProNews.com posted, NorthCentralPA reports the Pennsylvania House of Representatives has passed House Bill 1767 which requires MHC owners to give 60 day notice to residents when a community is to be closed and the land used for an alternate purpose. The Pennsylvania Housing Finance Agency …
MarketWatch says publicly-owned REIT UMH Propeties, Inc. reports in its first quarter 2012 financials, funds from operations (FFO) fell from $0.25 per share in Q1 2011 to $0.17 at the end of March 2012—$3,512,000 down to 2,656,000, respectively. Net income for common shareholders dropped from $2,125,000, $0.15 per share, in …
Killam Properties Inc. announces in its first quarter 2012 results, net operating income (NOI) for its same store MHC registered 4.7% growth versus the same store apartment building that generated only 1.5% growth. Overall, funds from operations (FFO) rose from 0.145 per share in Q1 2011 to 0.151 per share …
Following up on a story concerning the flooding in Minot, North Dakota last spring, KFYR-TV reports the Minot City Council is relaxing zoning requirements to allow manufactured homes to be sited in areas not previously zoned for them, sometimes to the chagrin of neighbors. Working on a case by case …
As follow up to a story we last covered March 16, 2012, RVBusiness tells MHProNews.com the RV/MH Hall of Fame and Museum in Elkhart, Indiana has initiated a new campaign to raise $100,000 by Aug. 31 to reduce its $200,000 bank loan with 1st Source Bank. The Boots Ingram family …
The Rapid City Journal in South Dakota reports the Box Elder Planning and Zoning Commission wants developer Bob Akers to rethink his plans to replace the 125-site Wagon Wheel Village MHC with 166 modular homes spaced ten feet apart. Located just east of Rapid City, the local government has no …
Following up on a story we published April 25, 2012, TCPalm says state-run Citizens Property Insurance in Florida wants to reduce its policyholders by some 687,000, 45 percent. Created by the state to provide insurance for manufactured home owners ineligible for private insurance, Citizens is now the largest insurance company …
The Manufactured Housing Institute (MHI) reports MH shipments for the first quarter of 2012 totaled 12,780 homes as opposed to 9,696 for the same period 2011, an increase of 31.8 percent. March 2012 saw 4,696 new manufactured homes shipped, 16.4 percent more than the same month 2011. Although shipments of …
UPI says Berkshire Hathaway Chairman Warren Buffett told stockholders gathered at the company’s annual meeting in Omaha his successor will have a sharp eye for profitable long-term investments, good negotiating skills at making large-scale deals to benefit the stockholders, while sticking to a solid investment strategy. Although share prices of …
Ruth Clayton, 97, the mother of Clayton Homes founder Jim Clayton, died Wed., May 2 at the University of Tennessee Medical Center in Knoxville, according to KnoxNews. Grandson Kevin Clayton, CEO of Clayton Homes, said his grandmother’s strong work ethic was an inspiration to the whole family. She is survived …
DoylestownPatch reports from the Pennsylvania House of Representatives, HB 1767, sponsored by Rep. Robert Freeman, D-Northampton, dictates the responsibilities of an MHC owner during the sale of an MHC under the Manufactured Home Community Rights Act. Up for second consideration this week, MHProNews.com has learned the measure also denotes the …
While the severest of weather cannot stop delivery of the U.S. Mail, residents of Airway Mobile Home Community in Oak Lawn on the south side of Chicago have learned cars or other obstacles that block their mailboxes may detour their mail to a post office for pick-up. SouthtownStarSun-Times reports a …
A segment on National Public Radio (NPR) highlights the problem MHC residents may face if the MHC owner decides to sell his community, causing residents to lose a home that may no longer be mobile, and thus their financial investment. Where some people may see this as a huge boulder …
In a letter to MPNnow, a resident of Gypsum Mills Estates in Victor, New York just south of Rochester states the 520 senior homeowners in the MHC are being unduly taxed by the town assessor. Stephen G. Poyzer says property assessments have increased an average of 24 percent. Noting that …
Sys-ConMedia reports 29,000 cooperative businesses nationwide will be represented when 150 leaders of the National Cooperative Business Association (NCBA) gather at the White House May 4 with top policy makers to discuss their roles in job creation and business development in their communities. Liz Bailey, CEO of NCBA says cooperatives …
MHProNews.com has learned from MyrtleBeachonline two South Carolina men were each sentenced to three years in federal prison for falsifying loan applications to banks to obtain mortgages on manufactured homes that were never delivered. Conway, SC MH dealer Glenn Vaught and mortgage broker Michael Fortenberry provided false documentation to obtain …
