Marcus & Millichap’s Michael Glass says for commercial real estate investors seeking to diversify their portfolio, the stabilizing housing market and resurgence in financing can make manufactured housing communities a good investment. In particular he notes age-restricted MHCs in prime markets are not increasing in number, leading to competition among […]
Commercial Real Estate Gamble: Bet on MHCs Read More
According to smmirror, the city of Santa Monica, California loaned the Mountain View Mobile Home Inn Residents Association $272,000 in 1996 to convert the property to a co-op owned by the residents. When the plan was determined to not be feasible, City Hall purchased the property in 2000 and maintained
City Forgives Loan to Would be Co-op Read More
SheridanSun reports from Sheridan, Oregon near the northwest Pacific coast, the owners of the former manufacturing plant of Liberty Homes, Inc. have borrowed $1.25 million from a New Jersey-based lender. The money will allow Liberty, which closed the plant in Feb. 2011, to sell part of the property by satisfying
Liberty Homes Unloads Property Read More
Financial columnist Craig Steiner sounded off on Townhall that conventional housing has far from recovered. He says recent headlines are an effort at media spin, just before the election, to make it sound like housing is on the rebound. Its not. The chart shows the reality of home prices. Steiner
Housing’s Lost Decade Read More
CNNMoney reports Spain’s government released a budget documenting budget cuts, giving investors some hope and inspiration as U.S. stocks ended a five-day losing streak. The Dow Jones Industrial Average moved up +72.46 points, +0.54 percent, to close at 13,485.97, while the Nasdaq gained +1.39 percent to 3,136.60. The S&P advanced
Patrick, Skyline, LPX, UFPI and Housing Composite Gain Nicely Read More
A mixed picture of the U.S. economy emerged, suggesting the economy is not growing fast enough to hasten much job growth, according to The Republic. The Commerce Department said orders for long-lasting goods fell by 13.2 percent in August, the biggest drop in over three years, largely influenced by a
U.S. Economy Improving in Fits and Starts Read More
Commissioners in Mooresville, North Carolina, just north of Charlotte, seeking to reduce the number of “non-conforming” manufactured homes in town, passed an ordinance preventing the replacement siting of manufactured housing in areas not specifically zoned for MH. If the owner wants to upgrade or just replace an existing home, it
New Restrictions on Manufactured Housing Read More
From Nevada, MHProNews has learned the Lyon County Commissioners are being asked to change the ordinance that forbids the siting of manufactured homes older than 15 years in the county. The downturn in the economy led to the sale of many homes that were foreclosed upon and had been vacant
Change in Siting Laws in Nevada Read More
NZHerald tells MHProNews from New Zealand the Kitset home by Box Living utilizes the strength of Kiwi-made Glulam timber for a series of floor and roof cassettes to make their modular houses. The construction features a timber post-and-beam exoskeleton with stainless-steel cross braces that has been approved for seismic, wind
Modular Homes Rising in New Zealand Read More
After Hurricane Katrina destroyed 4,000 homes in the Lower Ninth Ward of New Orleans with its 12 feet of surging water, the population of the area fell from 17,000 to 3,000 today. The $14.45 billion construction of new floodwalls that successfully withstood the wrath of Hurricane Isaac may encourage more
Modular Home Unscathed after Isaac Read More
According to data released by the federal government, CNNMoney reports consumers spent an average of 3.3 percent more on household expenses in 2011 than in 2010. The average for annual spending increased to $49,705, the first yearly rise since 2008. It must be noted that inflation, however, rose 3.2 percent,
Consumer Spending Rose in 2011 Read More
As HousingWire reports, the pending home sales index rose 2.7 percent from 115.8 in July to 118.9 in August even with available inventory levels falling, according to the California Association of Realtors (CAR). However, the pending sales index in Aug. 2011 was 121.4. The decline, says CAR President LeFrancis Arnold,
Pending Home Sales Rise in California Read More
Despite good news from the housing market and positive consumer confidence reports, investors were more focused on the what they see as a tepid global economy, as the three major indexes all dropped. CNNMoney reports the Dow Jones Industrial Average slid down -101.37 points, -0.75 percent, to close at 13,457.32,
Three Major Indexes and Most Housing Stocks Drop Read More
CNNMoney reports consumer confidence rose in Sept. to 70.3, well above the 63 reading many economists expected, and higher than the 61.3 August number. The Conference Board, a business research firm, says consumers who expect more jobs in the days ahead rose from 15.8 to 18.5, and those saying jobs
Consumer Confidence: Moving Up Read More
HousingWire reports an increase in home prices June to July 2012 according to the Standard & Poor Case-Shiller 10-city and 20-city indexes. The 10-city composite reveals a 1.5 percent rise. The 20-city composite grew 1.6 percent, registering the third consecutive month of growth in those cities. Dallas and Washington, D.C.
Idmanagedsolutions reports SmarTrend issued an Uptrend for Universal Forest Products, Inc. (NASDAQ: UFPI) on Aug. 22, 2012 when the stock was at $36.84. Today, the price is quoted at 16.66% higher, $42.97. Over the past 52 weeks, the share price has ranged from a low of $22.91 to a high
UFPI Stock Rises Prominently Read More
The register-guard reports from the Springfield City Council in Oregon, city officials are trying to determine their obligation for the residents of the 441 occupied manufactured homes in the city’s eight MHCs if development uproots them. The state legislature passed new rules in 2007 requiring MHC owners to give residents
City Plans for Redevelopment Read More
MHProNews has learned the Federal Housing Administration (FHA) issued a reminder to approved FHA lenders to promptly release hazard insurance funds to disaster victims of Hurricane Isaac, as per loan documents. The Mortgagee Letter says in the past some lenders used hazard insurance proceeds to pay off the mortgage, leaving
FHA to Lenders: Pay Hurricane Isaac Claims Now! Read More
NetNewsLedger reports from the northern Ontario, Canada town of Attawakispat on James Bay, the manufactured homes that were brought over the winter ice road have been sited during the summer. A disagreement between Minister of Aboriginal Affairs John Duncan and the Attawakispat First Nation leaders over funding management has led
First Nation Tribe Seeks more Manufactured Housing Read More
Testifying before the office of the U. S. Trade Representative in Washington, D.C. the National Association of Home Builders’ (NAHB) CEO Jerry Howard urged the federal government to avoid involving the U.S.-Canada softwood lumber accord in the Trans-Pacific Partnership Trade Agreement (TPP) talks. “Reopening the U.S.-Canada softwood lumber agreement would
Trade Agreement could Harm Housing Recovery Read More
