The Atlanta Journal Constitution carried a recent column by professor Seth Weissman, a real estate attorney and adjunct professor of city planning at George Institute of Technology. Weissman’s column states that approximately 30% of all mortgages are now under water. This drives down value and causes walk away foreclosures. “The …
Faulty federal approach hampers housing market recovery Read More
BankInvestmentConsultant reports Republicans have moved from a strategy of repealing Dodd-Frank to amending it. The shift in GOP strategy is a result of a generally popular piece of financial reform legislation coupled with a lack of control of the U.S. Senate. Presidential contender Rep. Michelle Bachmann (R-MN), introduced a repeal …
NorthJersey reports that higher down payments and rising mortgage rates for upper end homes starting Oct 1, 2011. That is the day when the Federal Housing Administration (FHA) is currently set expire, returning to a maximum of $625,000. That will place a $750,000 home, such as the one photographed, in …
Coalition to plead for extension on FHA loan limits Read More
Informed sources tell MHMSM.com that organizers for the Great Southwest Home Show (GSWHS) are close to making a new deal for a 2012 event. “We are now reviewing a contract at the Expo for March 1-2 for Trade and 3-4 for public days.” one source stated. “March 1 & 2 …
CNNMoney reports stocks dropped sharply by the end of Friday’s trading session. Today marked the worst weekly performance in over a year. Investors jitters increased over Washington’s failure to date to raise the debt ceiling. The Dow Jones industrial average fell 97 points, or 0.8%, to close at 12,143. Many …
Dennis Hill of Show Ways Unlimited, coordinator for the 2012 Louisville Manufactured Housing Show, has announced the appointment of L. A. ‘Tony’ Kovach to the role of show seminar coordinator. In a e-statement today, Hill wrote: “Tony, I am very glad that you are going to assume responsibility for putting …
2012 Louisville Show seminar coordinator appointment announced Read More
RealEstateRama states that U.S. Housing and Urban Development Secretary Shaun Donovan announced the availability of $95 million to support sustainable local initiatives through the FY 2011. The money is available through the Regional Planning and Community Challenge Planning Grant Programs from HUD’s Office of Sustainable Housing and Communities. Awarded competitively, …
HUD’s Donovan announces $95 million for grant programs Read More
PRNewswire released Patrick Industries (PATK) second quarter results. The company is a major manufacturer and distributor of building and component products for the recreational vehicle (“RV”), manufactured housing (“MH”) and industrial markets. Patrick reported net income of $3.7 million or $0.36 per diluted share on net sales of $82.6 million, …
Patrick Industries second quarter results released Read More
PRWeb reports that Harford Village, a manufactured home land-lease community of over 480 sites, opened a new residents recreational center. New amenities including a swimming pool and children’s playground. A new community center is also available for resident’s use. Sue Edgeworth, the community manager, said: “With all this record-breaking heat, …
Maryland manufactured home community opens million dollar residents center Read More
IAMHA executive director Joe Kelly tells MHProNews.com that the Iowa Supreme Court decision has come down today in a case important to those seeking to transition manufactured home communities into resident owned communities. The Board of Review of Jasper County, Iowa, sought further review of the court of appeals decision …
Supreme Court ruling benefits Communities seeking Coop Status Read More
As the debt ceiling issue rages on in DC, the Dow dropped just over half a percent to close at 12,240.11, off by – 62.44. Manufactured housing stocks had mixed results. Overall the Manufactured Housing Composite Index rose +0.82% to 1018.70. Clayton’s parent Berkshire Hathaway closed 112,336.00, up $286 or …
Debt Ceiling Talks Drops Dow, Manufactured Housing stocks mixed Read More
LoanSafe reports a former mortgage broker and the owner of a defunct manufactured housing dealership in Conway SC pleaded guilty to felony mortgage fraud charges today in federal court in Florence. Michael Fortenberry, the mortgage broker, and Glenn Vaught, former owner of G&E Home Sales, pleaded guilty to one charge …
Former Mortgage Broker and Manufactured Home Dealer Plead Guilty Read More
AgentBeat reports that National Association of Realtors (NAR) Chief Executive Officer, Dale Stinton planned to “reduce staff and employees” in the NAR by about 10 percent. This came as a result of the annual budget review process. Stinton added the NAR is the ahead of budget this year and will …
NAR Reduce Staff and Employees By About 10 Percent Read More
The IndependentMail reports Stephens County (GA) Commissioners has approved the first readings of an amendment to county ordinances dealing with pre-owned manufactured homes being moved into the county. The ordinance is designed to comply with state regulations. Georgia state law passed in 2010 keeps someone from moving a ‘mobile home’ …
Stephens County amends manufactured home placement ordinance Read More
TruckTrend reports architects Craig Hodgets and HsinMing Fung have turned Hummer sheet metal parts into a modular home. The iconic image of wasteful consumerism from the 90s and 00s could now become an environmentally friendly recycled HummerHaus. Eight Hummer H2 body shells serve as the walls around a steel framed …
HomeBuyerInstitute reports that the three biggest problems for the U.S. housing market are (1) excess inventory, (2) elevated unemployment and (3) tighter lending restrictions. Their report shows the inventory of bank-owned properties have the most impact on home prices. A report by Laurie Goodman, a mortgage and housing analyst with …
SanJuanCapistranoPatch reports a controversial plan to close the Capistrano Terrace ‘mobile home park’ has been placed on hold. Capistrano Terrace Ltd. filed for chapter 11 bankruptcy protection and owes the city of San Juan Capistrano $7,548 in administrative fees. “…due to the bankruptcy, funding is not available and cannot be …
In Bankruptcy, Capistrano Terrace’s Closure Plans on Hold Read More
WCAX reports that a Windsor VT manufactured home community was saved from the threat of closure when 14 families became the new owners of the ‘park.’ Rockingham Area Community Land Trust, the prior owner, claimed high costs and threatened to close the location. “We have elderly people and people on …
Vermont Manufactured Home Community residents prevent closure Read More
SignOnSanDiego alleged that owners of a “mobile home park” packed a meeting of the Chula Vista City Council meeting by paying activists to support rent decontrol. The City Council voted to allow rent to be raised when a home in the community is sold. The change in ordinance impacts future …
Manufactured Home Community Rent Decontrol Activists Paid to attend Chula Vista meeting Read More
In a statement to MHMSM.com, U.S. Senator Jon Tester (R-MT) made the following statement. “In recent days we’ve all seen the arguments and disagreements back in Washington play out in the headlines. It’s easy to get caught up in the back-and-forth without focusing on the nuts and bolts that matter …
