Zacks reports that Sun Communities (SUI) Debt To Asset ratio are relatively high compared to the top five companies in the residential REITs (Real Estate Investment Trust) industry. The Debt/Asset ratio shows the proportion of a company’s assets that are financed through debt. If the ratio is greater than one, most …
Marketwatch reports that Universal Forest Products Inc. (UFPI) will consolidate three divisions into two as part of an effort to streamline operations. The maker and seller of lumber and other building products said its Atlantic division will be absorbed into the company’s Eastern division. Atlantic Division President Robert Lees will …
SpinnyLiberal’s (SL) recent post reminds us there is another viewpoint to the Dodd-Frank legislation. SL took aim at 21st Mortgage, starting with the allegation that “Predatory Lenders Hate Regulation.” According to SL, the ‘janitress’ “showed me a packet she got in the mail from 21st Mortgage Corporation, her mortgage company. …
Spinny Liberal attacks 21st Mortgage on Dodd-Frank reform effort Read More
VCStar reports that Toll Brothers will unveil 4000+ square foot luxury homes with new green features in the San Diego market area. “This model home is going to be special. Every time someone turns a corner, there’s something they’ve never seen before,” said Kevin Rosinski, assistant vice president for Toll …
Builder with high end components ‘going Luxury green’ in upcoming Parade of Homes Read More
CNNMoney reports that the volatile markets rose today, while Greek debt and U.S. Debt reduction talks loomed over investors. The Dow closed at 11,061 +68.99 +(0.63%), with a year to date loss of -4.46%. The Yahoo! Finance Manufactured Housing Composite Value declined to 798.6 -0.16%. Affiliated Managers Group 81.75 +0.51 …
DigitalJournal reports on a recent National Association of Realtors (NAR) study that asserts that 94% of home buyers begin their housing search online. This move in consumer home buying habits has motivated some housing companies to provide a maximized Internet shopping experience, one that supports the personal service experience. “It …
NAR says Interent home shopping continues to rise, housing pros move with that trend Read More
MHProNews.com has learned that Wells Fargo Multifamily Capital’s Tony Petosa and Nick Bertino have reportedly closed 50 million in loans on 6 manufactured home community properties in the last 90 days. The six properties are located in four states across the country and total 1,661 sites. These included, Club Marina, …
Wells Fargo closes loans for 6 communities for $50 Million Read More
SavannahNow reports on a bright spot of the nations housing market that has benefited single family, modular, townhome and condo sales. Sales hit a four year high in Chatham, Bryan and Effingham county areas of South Carolina. 416 homes changed hands in August, the third month running this area has …
Local market bucks trends, may provide clues to boost housing Read More
LegalNewsline reports an update on a story previously covered by MHProNews.com, that Massachusetts Attorney General Martha Coakley announced she had obtained a preliminary injunction prohibiting the owners of a manufactured housing community from continuing alleged intimidating sales tactics. Morgan RV Resorts LLC and its sales team allegedly used intimidating tactics …
AG gets injunction against manufactured home community owner Read More
CNNMoney reports the Dow plunged more than 300 points today, as Euro and domestic clouds rocked investor confidence. European financial markets dropped following a shakeup at the European Central Bank, with London, Frankfurt and Paris dropping 2-4% and the euro dropping 1.7% against the dollar. The Dow closed at 10,992.13 …
Dow follows Euro markets down, manufactured housing drops Read More
Housingwire reports that the Ninth Circuit U.S. Court of Appeals upheld a lower court’s decision to dismiss a fraud suit filed as a class action against the Mortgage Electronic Registration System (MERS), Bank of America (BoA) and countless other financial institutions. The original suit filed by three homeowners as a …
Ninth Circuit tosses MERS suit, BoA and other banks pleased Read More
WillistonDailyHerald reports that Williams County Commissioners (ND) have unanimously approved the purchase of four manufactured homes for use as housing for county employees. Williams County Sheriff Scott Busching explained ongoing efforts to secure housing for county employees during the meeting. “We’ve so far purchased four mobile homes in Cimarron Heights,” …
County purchasing manufactured homes for employees Read More
Costar reports that UMH Properties, Inc. acquired three manufactured home communities. Trailmont is located at 1341 Dickerson Pike in Goodlettsville, TN; Shady Hill located at 1508 Dickerson Pike in Nashville, TN; and Countryside Village at 200 Early Rd. in Columbia, TN, for $13.3 million, or about $19,200 per home site. …
RTTNews reports Canadian building permits matched a record high in July. This suggests Canada’s housing market continues to thrive despite economic concerns. The value of building permits rose 6.3 percent to C$7.0 billion in July, matching the record set in May 2007, according to Statistics Canada. Much of the increase …
Canadian home building and housing overall continues strong Read More
Internet searches on a manufactured housing builder’s may lead web surfers to hacked off consumer complaint sites. Some of these attacks are anonymous. All of them can be difficult to handle, especially in the absence of positive efforts to build a company or the industry’s image. These attacks are not …
Businesses and workplace impacted by Cyber-bullying Read More
Bloomberg reports that U.S. mortgage rates tumbled 4.12 percent, the lowest in at least four decades. “Homebuyers are not responding to these record-low interest rates,” said Patrick Newport, economist at IHS Global Insight in Lexington, Massachusetts. “The reason interest rates are dropping recently is that the outlook for the economy …
Record low mortgage rates, but weak economy keeps many buyers on sidelines Read More
CNNMoney reports that Fed Chief Ben Bernake’s address failed to impress investors, even though big Ben said the Fed could use certain “tools” to help stimulate the economy if needed. The Dow fell 11,295.96 -118.90 (-1.04%). The Yahoo! Finance Manufactured Housing Composite index value slipped even faster, to 821.6 (-3.12%). …
Ben Blows, investors froze, stocks close low, manufactured housing slides too Read More
Fitsnews reports that Toronto Canada based Innovative Composites International, Inc. (ICI) has announced it will build a new production facility in Orangeburg County, SC. The $9.3 million investment is expected to generate 300 new jobs over five years. “South Carolina has provided us with an excellent location for our new …
CalgaryHerald reports on a story MHProNews.com has previously covered, that even ‘mobile homes’ (sic) on the Malibu, CA coast can be worth millions. Two gated, ocean-view communities in Malibu – Paradise Cove and Point Dume Club – struggled during the downturn. “In 2008 and 2009 people were just scared to …
Malibu and Maxey reminds us some ‘mobiles’ are worth millions Read More
Zacks reports that among five home-building companies tracked, the following have the lowest Current Ratios. The Current Ratio is used to get a sense of how quickly a company can repay its short term liabilities with its short term assets. Higher current ratios means the more capable the firm is …
Zacks tags Cavco in housing ranks for current ratio Read More
