Bud and Tiffni Graham’s plans to install manufactured homes received approval from the Planning and Zoning Commission in Bandera, Texas, just northwest of San Antonio, as bccourier tells MHProNews. Although sited in the floodway of the Medina River, the homes were to be placed on pilings to remain above a …
Manufactured Home Siting Approved, but Owners Yield to Residents’ Suggestions Read More
Both of the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, operate under a $30 billion cap for purchases of multifamily loans, according to costar. Since they each hit $10 billion in the first quarter, they would max out by the third quarter, leaving no available funds to finance deals …
FHFA Stretches Multifamily Affordable Housing Lending Categories Read More
MHProNews has learned Tim Williams, Executive Director of the Ohio Manufactured Homes Association (OMHA), testified against objectionable EPA language in the Ohio state senate’s budget legislation before the Senate Finance Committee. Of particular concern in the state budget bill (HB 64) is the requirement that, if a water system is …
Manufactured Housing Industry Objects to Ohio Legislation Read More
Commercial real estate lender Hunt Mortgage Group has provided a $4.5 million Fannie Mae loan facility to refinance Terra Vista Manufactured Housing Community in Tucson, Arizona, as digitaljournal tells MHProNews. Founded in 1970, the age-restricted (55+) community is comprised of 129 homesites set on 14.5 acres with no permanent structures …
Manufactured Home Community Refinanced by Fannie Mae Read More
According to theaustralian, the initial public offering (IPO) of 117.3 million new shares at $2 per share for manufactured home community (MHC) owner Gateway Lifestyle will bring in $234.7 million gross. The total will comprise 255.2 million shares, including existing shares, equating an overall value of $510 million. Gateway’s price …
Australian Manufactured Home Community Owner Issues IPO Read More
U. S. Senate Banking Committee Chairman Richard Shelby (R-Ala.) has included in The Financial Regulatory Improvement Act provisions to improve access to affordable financing for manufactured home buyers. Identical to S. 682 the Preserving Access to Manufactured Housing introduced in the Senate, as well as HR 650, which was passed …
Senator Richard Shelby Offers Bill to Improve Access to Financing Manufactured Homes Read More
MHProNews has learned from newsobserver that the Orange County Commissioners in North Carolina have approved a five-year plan that will be submitted to the federal government to provide affordable housing and repairs for residents in the Chapel Hill, NC area. The Department of Housing and Urban Development (HUD) requires recipients …
CDBG Funding Disallows Manufactured Home Repair; Local Initiative Needed Read More
The Midland Planning and Zoning Commission in Midland, Texas approved plans for a new manufactured home community (MHC) featuring a central park, a hiking and biking trail and up to 320 homes. One resident complained that two of the nearby roads had not been repaired in 35 years and that …
A new study of homeownership, home values and income growth from 2000 to 2013 by the National Association of Realtors (NAR) indicates 90 percent of metropolitan housing markets have seen a decline in homeownership rates. Rising home values and static incomes are widening the wealth gap which is leading to …
Rents are Rising—Manufactured Home Living more Reasonable than Ever Read More
The Recreational Vehicle/Manufactured Housing (RV/MH) Hall of Fame’s annual induction dinner to honor the Class of 2015 will be held at the Hall’s Northern Indiana Event Center in Elkhart, Indiana August 3, as Chairman Darryl Searer has informed MHProNews. Inductees chosen to be honored this year are: Bert V. Alanko, …
The California Mobilehome Parkowners Alliance (CMPA) will honor seven manufactured housing industry members at its symposium May 31-June 1, 2015 in Las Vegas. Barry Cole of Manufactured Housing Insurance Services will receive top honors as recipient of The Chelu Travieso-Earhart Lifetime Achievement Award. Attorney Phil Woog will receive the Freedom …
Manufactured Home Community Owners Group to Bestow Awards, Discuss Issues Read More
Dubbed the Miracle of Milan, the residents of what had been Bob’s Mobile Home Park in Milan, New Hampshire were able to convert the 18-homesite community into a cooperative in ten days. Now called Deer Estates Cooperative, Inc., the community was to be sold at a foreclosure auction April 21. …
Manufactured Home Community Becomes 113th Co-op in New Hampshire Read More
ROC Racks up Two More MHC Co-ops. Legislator Questions HUD Contract. HUD Code Production Rises. Modular Skyscraper Rises Quickly in China. Modular Future Questionable in NYC, as it Gains a Floor in Texas, adds Luxury Complex in Silicon Valley. Cavco Acquires Fairmont. MHCC Seeks MH Multifamily. Google Denied Modular Expansion. …
For the first quarter of 2015, UMH Properties, Inc. (NYSE:UMH) reports Core Funds from Operations (CFFO) rose from $2,425,000 or $0.11 per diluted share for the 1st quarter of 2014 to $3,159,000 or $0.13 per diluted share for the comparable quarter 2015. Normalized Funds from Operations (Normalized FFO) hit $3,226,000, …
MHProNews has learned from marketwatch that Canadian Apartment Properties Real Estate Investment Trust (CAPREIT), owner of manufactured home communities, announces that its Board of Directors has approved a 3.4 percent increase in annualized cash distributions. Effective with the May 2015 distribution, $1.22 per unit ($0.0107 monthly) will be paid on …
Elmwood Mobile Manor has transformed into Elmwood Homeowners Cooperative, purchasing the manufactured home community (MHC) with $2.16 million financing provided by ROC USA® Capital, the Mercy Loan Fund and the Washington State Housing Finance Commission. JP Morgan Chase’s CDFI (Community Development Financial Institution) Collaborative program supplied a $4 million grant …
ROC USA Facilitates another Manufactured Home Community to Become a Co-op Read More
The Pine Haven manufactured home community (MHC) in Moss Bluff, Louisiana in the southwestern part of the state (just north of Lake Charles) has been sold and the 35 homes, some of which appear to have been built before the Department of Housing and Urban Development (HUD) established standards for …
Ozy Media’s ‘Trailer House Nation,’ Corrections Needed Read More
As follow-up to a story MHProNews posted March 19, 2015 regarding multifamily manufactured housing (MH) units, the Manufactured Housing Association for Regulatory Reform (MHARR) tells MHProNews the General Subcommittee of the Manufactured Housing Consensus Committee (MHCC) unanimously approved a proposal to establish standards for the homes. Previously, HUD warned any …
Manufactured Housing Consensus Committee to Consider Multifamily MH Read More
Australian filmmaker Jeremy Beasley has been documenting the Tiny Home movement which began in the U. S. 15 years ago, and estimates there are between 500 and 1,000, although the exact number is unknown because many are under the radar. As MHProNews reported Oct. 21, 2014 on a 70 square-foot …
New rules and regulations for the moving and placement of manufactured homes (MH) was discussed at the Ramey (Penn.) Borough Council meeting May 4, as theprogressnews tells MHProNews. Code Enforcement Officer Joe Kercenneck discovered a multi-section home in town has a manufacturers seal of approval, but it does not have …
Borough Establishes Regulations for Siting of Manufactured Homes Read More
