According to themortgagereports, the National Association of Realtors (NAR) says rising rents, a favorable lending environment and low mortgage rates are driving the market for homes nationwide. In January, the median time for homes to be on the market was 69 days—half the homes sold in less than 69 days, …
In the wake of the Dow Jones’ precipitous fall of 530 points last week, Brett Arends, writing for marketwatch, says while the “perma bulls,” as he calls them, are gloating while the stocks continued ascending with barely a hitch, to characterize this as another buying opportunity he says is nonsense. …
Could the Dow Jones Drop 1,000 Points? History says Maybe Read More
A decision by the owners of Burt Estates manufactured home subdivision in Diamond, Illinois to install water meters on each property has angered some of the residents of this 187-home site community, according to morrisherald-news, to the extent they intend to form a homeowners association. Residents also mentioned old electrical …
Manufactured Home Community Installing Individual Water Meters Read More
Goleta, California-based Community West Bancshares reported a loss of $2.3 million in Q2 2015 in the wake of a $7.2 million settlement to resolve litigation regarding residential mortgage loans sold to Residential Funding Company, a real estate investment firm. Otherwise, the company’s net income would have been $1.9 million, up …
Community West Bancshares to Focus on Manufactured Home Loans Read More
What’s New in public focused Manufactured HomeLivingNews.com Stan Dye talks Manufactured Home Lending and MH Site Preparation Do-It-Yourself Heat Tape Video! Prevent Winter Freeze Ups for Manufactured Homes and Houses over Crawl Spaces What’s New in Manufactured Housing Industry Professional News PBS Story on MH Finance Due. Sun, UMH, Adding …
Sunday Morning Recap-Manufactured Housing Industry News Aug. 16-Aug. 23, 2015 Read More
The owners of the Hillcrest Estates manufactured home community in Portsmouth, NH received unanimous approval from the Portsmouth Planning Board for conditional use permits to upgrade the community, much to the delight of some 50 residents who stood and applauded the vote, reports seacoastonline. First developed in the 1960s, attorney …
New Owners of Land Lease Community Bring Applause from Residents Read More
Kingsley Management Corp. of Provo, Utah has acquired two Manatee County, Florida 55+ manufactured home communities (MHC) for $27.8 million. The 244-home site Palm Bay was sold for $13.1 million, while the adjacent 235 home site Colonial Mobile Manor went for $14.7 million. Both communities, according to businessobserverfl, are in …
Two Age-Restricted Manufactured Home Communities sold to Kingsley Read More
MHProNews has learned PBS News will soon be doing video interviews focusing on manufactured home lending. Sources tell us the interviewer will do a balanced report with views from both sides of the issue. Dr. Lesli Gooch from the Manufactured Housing Institute (MHI) writes how Dodd-Frank is harming the very …
PBS Segment on Manufactured Home Lending; MH Pros Need to Work Together Read More
The City Council of Sanger, California is holding a public hearing to consider amending the municipal code to allow manufactured homes on property zoned for conventional single-family residences. The change would bring the code up to date with state law, according to thesangerherald. In a related public hearing, city council …
CA City to Allow Manufactured Homes Among Conventional Housing Read More
Zacks has changed its “hold” rating to “buy” for Equity LifeStyle Properties (NYSE:ELS), the largest owner of manufactured home communities (MHC) in the nation, according to dakotafinancialnews. The stock closed down -0.43% on Thursday, at $58.97, as MHProNews reported in its stock report, but Zacks has issued a target price …
Equity LifeStyle Properties Stock Targeted at $66.00 Read More
Following a story MHProNews first learned about Aug. 7, 2015 when UMH Properties, Inc. released its earnings report for Q2, UMH has closed on the acquisition of three of six manufactured home communities, two in Ohio and one in Michigan, for $32.5 million. The three all-age communities contain 897 developed …
UMH Properties Continues its Acquisition of Land Lease Communities Read More
Updating a story MHProNews posted Aug. 11, 2015, regarding Lippert Components, Inc. acquisition of Signature Seating, journalgazette reports Lippert will be adding 125 new jobs at the New Haven, IN facility that was home to Signature. Also known as Roehm Marine LLC, the company made upholstered furnishings for pontoon boats …
Following a story MHProNews posted Aug. 18, 2015 regarding the sale of 36,552 shares of Patrick Industries’ stock by Tontine Capital Partners L.P Aug. 14, dakotafinancenews reports Tontine sold another 19,220 shares of Patrick stock on Monday, Aug. 17 at an average price of $39.20 for a net value of …
Major Shareholders of Patrick Industries Continue Unloading Stock Read More
On Aug. 19, 2015 Southfield, Michigan-based Sun Communities, Inc. completed its sale of three manufactured home communities (MHC) comprised of 900 home sites for $32.5 million. Two of the MHCs are in Ohio, the third is in Michigan, according to nasdaq. On Aug. 13, 2015, Sun acquired a recreational vehicle …
Sun Completes Transactions on Six Communities, Secures Line of Credit Read More
Writing in rollcall, Manufactured Housing Institute’s (MHI) Senior Vice President for Government Affairs Dr. Lesli Gooch says while different Congressional committees are evaluating the five-year-old Dodd-Frank Act, people in many rural communities are being harmed rather than protected. She writes, “The Dodd-Frank Act is preventing everyday Americans from accessing the …
Dr. Gooch of Manufactured Housing Institute calls for Dodd-Frank Adjustment Read More
The Manufactured Housing Institute (MHI) has informed MHProNews that the city council of San Clemente, California is voting to relinquish its enforcement responsibility for the manufactured home communities in the city, and refer that responsibility back to the California Department of Housing and Community Development. City council cited budgetary constraints …
California City Relinquishes Enforcement of Land Lease Communities Read More
MHProNews has learned from insidertradingreport Eugene W. Landy, Chairman of the Board of UMH Properties, Inc. (NYSE:UMH) purchased 5,479 shares of company stock on Aug. 17. 2015, according to a filing with the Securities and Exchange Commission. The shares were acquired at $9.12 each for a net value of $50,000. …
Datacomp, a provider of manufactured home (MH) appraisals and MH industry market data since 1987, has informed MHProNews of its new manufactured home valuation service that enables compliance with the rules for Higher-Priced Mortgage Loans (HPML) that now cover most financed manufactured home transactions. Datacomp MSRV (Market-Suggested Retail Value) can …
Datacomp Announces new Valuation Tool to Comply with Higher-Priced Mortgage Loans Read More
A measure introduced in the Senate by U. S. Senators Mike Rounds (R-SD) and Angus King (I-ME) would give community banks, credit unions and small businesses a say in the Consumer Financial Protection Bureau’s (CFPB) rulemaking process, according to what dsnews tells MHProNews. Known as the Bureau of Consumer Financial …
Bill would Give a Voice to Smaller Lenders within the Consumer Financial Protection Bureau Read More
With only five months before a 20 year-old agreement stabilizing manufactured home community (MHC) rents expires in Vista, California, talks between residents and community owners have reached a stalemate. During talks that began in April, owners insisted residents pay for updating infrastructure in the aging communities, according to sandiegouniontribune. Most …
Manufactured Home Community Owners, Residents at Odds over Infrastructure Repairs Read More
