StateJournal in West Virginia reports Gov. Earl Ray Tomblin authorized tax relief to flood victims of two additional counties, bringing to eleven the number of counties included. The executive order suspends the consumer sales and service tax and the use tax on purchases that would “substantially improve efforts to provide …
The Wall Street Journal states Warren Buffett’s announcement of having prostate cancer set the street buzzing with who may be his successor. Financial researchers culled the Oracle of Omaha’s annual letters to shareholders since 1977, some 400,000 words, and determined Ajit Jain, head of Berkshire’s reinsurance division, was mentioned the …
To comply with the 2010 FEMA (Federal Emergency Management Agency) guidelines declaring Magnolia Village MHC in Yuma, Arizona is in a flood plain, replacement homes for the over-55 residents will have to be elevated four feet. To satisfy the National Flood Insurance Program, homes that will cost more than 50 …
FEMA: “Canal Could Flood MHC”—Water Co. Employee: “No Way” Read More
NationalMortgageNews tells MHProNews.com the American Bankers Association (ABA) reports delinquency rates fell across all the loan categories the ABA monitors in the fourth quarter of 2011, the first time that has happened since 2004. The ABA defines delinquency as being late 30 or more days. The report notes consumers made …
Noting a story we posted April 10, 2012, outlining the Preserving Access to Manufactured Housing Act, the Manufactured Housing Institute (MHI), fresh from its annual National Congress and Expo for Manufactured and Modular Housing in Las Vegas, announces in it’s newsletter the bi-partisan support it has gained for the legislation …
Regarding another story we covered April 16, 2012 from Mt. Vernon, Illinois concerning a proposed conditional use for siting MH in the town, the city council voted to prohibit manufactured housing from RM2 residential areas. The new ordinance endorses a conditional use provision that allows factory-built homes to be sited …
Following another story from Sept 23, 2011, residents of problem-besotted Edgeway Mobile Home Park in Middleboro, Massachusetts seek to replace the Town Selectmen with a rent control board to govern the operations of MHCs, according to SouthCoastToday. The license for Edgeway owner Cory Farcas was revoked in 2004 for health …
To follow up on our report of United Forest Products, Inc. (UFPI)’s Q1 financials, TheStreetRatings has upgraded the company’s stock UFPI:Nasdaq) from hold to buy. Revenue, sales, net income (up 213.2% Q1 2012 compared to Q1 2011), and net operating cash flow have all increased in one year, and some …
Advfn tells MHProNews.com Universal Forest Products, Inc. (UFPI) reports its first quarter 2012 sales have increased 18 percent and its earning were up $7.8 million over Q1 2011. Its manufactured housing division posted gross sales of $63 million for the quarter, a 34 percent increase over same period 2011. UFPI …
MHProNews.com has learned from 4-Traders Drew Industries. Inc. will release its first quarter 2012 financial results before the market opens Thursday, May 3, 2012. The company will host a conference call that same day at 11 AM to discuss the results. Through its wholly-owned subsidiaries Kinro and Lippert Components, Drew, …
GlobeSt reports from Chevy Chase, Maryland multifamily real estate investment firm Federal Capital Partners (FCP) has invested $29.5 million in a 1,358 manufactured home site portfolio with communities in Pennsylvania, North Carolina, and Maryland. MHProNews.com has learned FCP is teaming with current portfolio owner Horizon Land Co. FCP Managing Partner …
BusinessInsider says Warren Buffett has been diagnosed with stage 1 prostate cancer. Subsequent CAT and bone scans revealed the cancer has not spread. The Chairman of Berkshire Hathaway, which owns Clayton Homes of Maryville, Tennessee, will begin radiation treatment in July, and says his travel will be restricted during that …
J.D. Pendleton, Executive Director of the Texas Manufactured Housing Association, tells MHProNews.com the San Antonio Quality of Life Committee may propose changes to the city code that affects MHCs. The changes relate to building/rebuilding manufactured homes in a flood plain, signage responsibilities, and possible increased fines for violations. The Quality …
RTTNews reports UMH Properties, Inc., is adding eleven MHCs in Pennsylvania and New York to its portfolio at a cost of $28.25 million. The all-age communities comprise 966 home sites and have an average occupancy of 92 percent. MHProNews.com has learned the acquisition is scheduled to be finalized by the …
A report from the Manufactured Housing Association for Regulatory Reform (MHARR) dated April 16, 2012 states HUD has returned to its authoritarian roots as it continues to disregard the Reform Act of 2000. MHARR cites its continuing discrimination especially against the smaller manufacturers, which ultimately raises the costs to the …
Deanna Fields of the Manufactured Housing Association of Oklahoma tells us Gov. Mary Fallin vetoed a bill that would have provided liability protection for MHC owners who shelter residents in their office during severe weather. HB 2296, which would protect the owners from civil liability passed unanimously in the House …
TCPalm of Palm Beach, Florida, tells MHProNews.com a series of power surges that struck the Village Green MHC in Vero Beach ruined numerous electrical devices in five manufactured homes, including large-screen TVs, coffee makers, DVD players, microwaves, a chandelier, and other appliances. Although the total loss was around $2,000, not …
SeaCoastonline in New Hampshire reports town officials in North Hampton, NH near the Atlantic Ocean coast say the state Department of Revenue Administration has completed its review of the property assessment determination process and discovered the manufactured homes in the area are undervalued. Most town property, MHProNews.com has learned, is …
From London, England OfficialWire tells MHProNews.com by 2017 the production of manufactured housing worldwide will reach 829,000 units. The report cites technological improvements, positive governmental regulations, and growing populations in the Asian and Latin American markets with disposable income as the driving force behind demand for middle-income housing. Noting manufactured …
RockwallHeraldBanner reports from Boyse City just northeast of Dallas the Federal Emergency Management Agency (FEMA) says 50 homes were damaged, 13 of them destroyed, by the tornado that ripped through Southeastern Rockwall County April 3. Thirty-eight of those were stick-built and 12 were factory-built. Fourteen stick-built and six manufactured houses …
