In CNN News: Greece asks for more bailout as it heads toward default, Puerto Rico wants to declare bankruptcy in lieu of its $73 billion unpayable debt, businesses upset with President Obama’s proposed rule change to increase overtime pay, and the head of luxury watch and jewelry maker Cartier says […]
MHCV Slips, Manufactured Home Stocks Quiet Read More
MHPronews has learned from wfie14news that SSK Communities has acquired the 353 home site Lamp Lite Estates manufactured home community (MHC) in Owensboro, Kentucky and intends to “make significant improvements” which will include changing the name to Riverbend Pointe. Nathan Smith, SSK co-founder and Chairman of the Board of Directors
SSK Communities Plans Revamping of Manufactured Home Community Read More
Following a story MHProNews last posted June 19, 2015, regarding Cavco Industries’ purchase of Fairmont Homes and subsequent request for tax abatements from the city of Nappanee, Indiana for production upgrades, the Nappanee City Council approved a $40,000 tax phase-in for equipment purchases and employee training. Noting that Fairmont’s products
Cavco will Retain Fairmont’s Employees, Expand its Customer Base Read More
The Bloomington (IL) Planning Commission recommended City Council approve a plan for a manufactured home community (MHC) to expand on an eight-acre site that was once part of the Southgate Estates Mobile Home Park. After a foreclosure in 2011, Southgate was split into two parcels, and the larger one became
Plans for Manufactured Home Community Expansion on Hold Read More
David J. Contis, a director on the board of Equity LifeStyle Properties, Inc. (NYSE:ELS) sold 5,000 shares of the company’s stock on Tue., June 23 at an average price of $53.65 for a total value of $268,250.00. Disclosed in a filing with the Securities and Exchange Commission (SEC), Contis now
Equity LifeStyle Properties’ Director Sheds Stock Read More
In CNN News: Supreme Court ruling upholds Affordable Care Act subsidies, Greece has five days to avoid default, Gen-Xers don’t want to be homeowners, and Univision cancels Miss Universe pageant over Donald Trump’s comments about Mexicans. Meanwhile, the Yahoo Manufactured Housing Composite Value (MHCV) nudged up +0.20 percent to end
MHCV Edges Up, Health Care Stocks Rise on Supreme Court Decision Read More
After spending a day cleaning up debris around Wimberly, Texas, in the wake of the flooding that ravaged parts of the state, Alberto Pina, general manager of Mobile Homes Direct 4 Less, is offering new manufactured homes at cost to people who lost their homes, according to PRWeb. “The pictures
Texas Dealer Offering Manufactured Homes at Cost to Flood Victims Read More
In CNN News: Failure to reach deal with Greece over bailout sends Dow down a slippery slope, losing nearly one percent. Plus, Americans waste $900 a year in food, Alan Greenspan says U. S. real estate is stagnating, the Raleigh-Durham, North Carolina metro area has the most job opportunities, and
Deer Valley Skyrockets +62.50 Percent; Dow Falls 178 Points Read More
Modular units are being used to expand the women’s section of the Livingston County Jail in Howell, Michigan. A spike in heroin related offenses has increased the female inmate population from around a dozen inmates daily 12 years ago to 60, in an area designed for 31. The new design,
Michigan Jail Expansion will Include Modular Cells Read More
A Missouri Supreme Court decision from two years ago that made the sale of used manufactured homes (MH) taxable has been reversed and signed into law by Governor Jay Nixon. Introduced by Rep. Sandy Crawford as HB 111, the sale of used MH had not been taxable for the 20
Sales Tax Rescinded on used Manufactured Homes Read More
At an average price of $500,000, wealthy foreigners bought a record $104 billion of U. S. residential real estate between April 2014 and March 2015, according to cnbc, accounting for eight percent of existing home sales. The National Association of Realtors (NAR) reports Chinese were the biggest purchasers attributable for
Affluent Foreigners Purchased over $100 Billion in U. S. Real Estate Read More
MHProNews has learned Wells Fargo Commercial Real Estate has hired two industry veterans as it expands its presence in the manufactured home communities (MHC) lending sector, following the acquisition of a $9 billion portfolio of commercial real estate loans from GE Capital Real Estate that includes MHC-focused funds. Lew Grace
Wells Fargo Beefs Up Manufactured Home Community Lending Sector Read More
In CNN News: Facebook is now worth more than Walmart, peanut allergy drug due in 2018, same sex marriage is good for business, and sales spike for Confederate flag themed items. Meanwhile, the Yahoo Manufactured Housing Composite Value (MHCV) nudged up +0.33 percent to end the day at 729.5. Manufactured
Deer Valley Regains some of Yesterday’s Loss; Nobility Homes Loses its Gain of Yesterday Read More
Shares of Equity LifeStyle Properties, Inc. (NYSE:ELS) rose +4.21 percent over the last week and +2.24 percent in the last four weeks, earning a consensus recommendation of “Buy” from analysts. The shares have outperformed the S&P 500 by 3.42 percent in the last week, and by 3.02 percent over the
Manufactured Home Community Owner ELS outpaces S&P 500 Read More
A financing option for start-ups, called Regulation A, will allow potential investors of more modest means the opportunity to obtain equity stakes in what could be the next Facebook or Groupon. Instead of promising companies being backed by venture capitalists and wealthy angel investors, these “mini I.P.O.s” will advertise on
Mini IPOs Offer Smaller Investors Opportunity to Invest Read More
The National Association of Realtors (NAR) reports sales of existing homes rose 5.1 percent in May over April to their highest level since 2009. Existing home sales in May were 9.2 percent over May 2014, according to bizjournals, and year-over-year sales have risen for the past eight months. In addition,
Existing Home Sales, First-Time Home Buyers both Rise Read More
In the News: Sales of pre-existing homes rose 5.1 percent in May, Eurozone cautiously welcomes Greece’s new repayment plan, U. S.doctors and nurses charged with $712 million Medicare fraud, and Lester Holt becomes first black news anchor. Meanwhile, the Yahoo Manufactured Housing Composite Value (MHCV) advanced +1.37 percent to end
Deer Valley Nosedives, Dow Gains over 100 Points Read More
The Santa Clarita (California) City Council is ready to consider revisions to the ordinance that governs rents for residents of area manufactured home communities (MHCs), according to signalscv. The revised proposal would base the rate on the consumer price index, setting the floor for annual increases at 2.6 percent and
Rent Control Expanded to Include Fair Rate of Return and Non-Standard Increases Read More
Enerdynamic Hybrid Technologies Corp. (TSX-V: EHT) has agreed to acquire EVIA Finance S.A.R.L., a global manufacturer and installer of patented modular housing units for CAD (Canadian)$45.7 million, or $37,017,000 USD. Based in Luxembourg, EVIA produces proprietary modular homes that can be built in under one day, are 70 percent more
Canadian Energy Co. Buying Modular Builder EVIA Finance of Luxembourg Read More
In manufactured housing news, UMH planning MHC as other MHCs closing, programs help MH buyers, MHC sells for $98k per homesite, Texas reports MH sales. In modular news, Magnolia Homes may be revived, Brad Pitt moves mods to Indian Rez, Mods house Irish homeless, micro mods go urban. In company
Sunday Morning Recap June 14, 2015 to June 20, 2015 Read More
