Casa Grande Dispatch says Sun Communities, Inc. is acquiring Palm Creek Golf & RV Resort in Casa Grande, Arizona from the Wolfswinkel family, who started the community more than 13 years ago. In a letter to residents, Ashton Wolfwsinkel says, “We believe that this is in not only the best […]
Although the three major indexes closed up for the week, they all dropped just under one percent over nagging concerns abut the fiscal cliff the country gets closer to each day. CNNMoney reports the Dow Jones Industrial Average fell -0.91 percent, -120.88 points, ending the week at 13,190.84. The Nasdaq
Three Indexes Drop, Housing Stocks Mixed Read More
WDSU-TV tells MHProNews a manufactured home was blown onto Interstate 10 in southern Louisiana at the foot of the Twin Span, a major thoroughfare over Lake Pontchartrain that connects New Orleans and Slidell, LA. The driver said he was coming down off the bridge when a huge gust of wind
High Wind Turns Manufactured Home into Roadblock Read More
ConstructionWeekOnline tells MHProNews Hawthorn Brook Group, which originally specialized in producing horse stables, is now also focusing on modular housing, and received its first contract in the region in Bahrain through its association with the Gulf Cooperation Council. Hawthorn’s Brian Fox says, “ Our products have a potential energy saving
Ireland Sends Modular Homes to Middle East Read More
According to the National Association of Realtors (NAR), the annual pace of 5.04 million existing homes sold in Nov. 2012 exceeded experts prediction of 4.9 million, and rose above the 4.76 million sold in Oct. and the 4.39 million in Nov. 2011. CNNMoney says it was the highest level since
Existing Home Sales Increasing Read More
According to originationnews, for the week ending Dec. 20 Freddie Mac says the average rate for a 30 year fixed-rate mortgage (FRM) rose by five basis points to 3.37 percent while the average 15-year FRM dropped one point to 2.65 percent. The average rate for a five-year Treasury-indexed hybrid adjustable
Average 30-year FRM Rises Read More
U.S. stocks moved slightly higher today even as the White House and Congress seem to be at loggerheads in trying to resolve the fiscal cliff problem. CNNMoney reports the Dow Jones Industrial Average gained +0.45 percent, +59.75 points, ending the day at 13,311.72. The Nasdaq moved up +0.20 percent, +6.02
More Housing Stocks Gain than Lose Read More
CrainsCleveland reports Freehold, New Jersey-based UMH Properties has acquired 125-site Olmsted Falls MHC in the southwestern suburbs of Cleveland, Ohio for $3.6 million. The 14-acre property in Olmsted Falls marks UMH’s second MHC acquisition this month just outside Cleveland. As MHProNews reported Dec. 4, 2012, it purchased 141-site Twin Oaks
UMH on the Buying Path Again Read More
Although markets have made solid gains in the past few days, investors backed away today as they awaited an agreement from Washington to resolve the fiscal cliff dilemma. CNNMoney reports the Dow Jones Industrial Average fell -0.74 percent, -98.99 points, ending the day at 13,251.97. The Nasdaq moved down -0.33
Waffling in Washington Produces Modest Housing Stock Movement Read More
While many economists and analysts think the housing recovery will plod along and finally achieve “normalcy”, some saying not until 2020, other experts predict a housing boom will hit within two to three years. As CNNMoney tells MHProNews, Barclays Capital analyst Stephen Kim states, “In our view, the housing market
Housing Recovery: Sooner Rather than Later Read More
The National Association for Home Builders/Wells Fargo Housing Market Index (HMI) reports builder confidence for new single-family homes rose two points in Dec. to 47, the highest level since April 2006. The HMI rates builders perceptions of market conditions based on current traffic, sales expectations for the next six months,
Builder Confidence Improves Read More
RVBusiness reports Sun Communities, Inc., through its subsidiary Sun Communities Operating Limited Partnership (SCOLP), has entered into an agreement to purchase 11 Morgan RV Resorts for $ 135 million. According to a filing with the Securities and Exchange Commission (SEC), properties include Morgan Fiesta Key LLC, Virginia Tent LLC, Wagon
Sun Acquires RV Resorts Read More
U.S. stocks responded positively to indications that a resolution to the fiscal cliff problem may be near. CNNMoney reports the Dow Jones Industrial Average gained 0.87 percent, +115.57 points, ending the day at 13,350.96. The Nasdaq moved up 1.46 percent, +43.93 points, to close at 3,054.53, while the S&P advanced
UFPI led Rise in Housing Stocks, Followed by LPX and Skyline Read More
As MHProNews has learned from theatlanticcities, each of the modules is 14 feet wide X 35 feet long and 10 feet high, and include floors, electricity, plumbing, walls, kitchens and bathrooms, the basis for the 363 apartments. The strong construction unions in New York City initially opposed the project because
A Prefab Grows in Brooklyn, p.2 Read More
As follow up on the massive, modular Forest City Ratner project in Brooklyn, NY, groundbreaking is set for today with Mayor Michael Bloomberg, Gary LaBarbera, President of the Building and Construction Trades Council of Greater New York, Brooklyn Borough President Marty Moskowitz, and Forest City CEO Bruce Ratner. Theatlanticcities says
A Prefab Grows in Brooklyn, p. 1 Read More
Reuters reports Universal Forest Products, Inc. (UFPI:NASDAQ) is borrowing $75 million from Prudential Investment Management, Inc. to reduce debt associated with the recent purchase of Wash.-based Nepa Pallet and Container Corp. and acquire Custom Caseworks, Inc. of Sauk Center, Minn. The $35 million notes are unsecured ten-year at 3.89 percent
Universal Borrows to Buy Read More
HousingWire informs MHProNews the Home Affordable Modification Program (HAMP) assisted 13,400 homeowners in obtaining trial modifications for the terms of their home loans in Nov., a drop from 15,200 the previous month. Meanwhile, 16,000 received permanent modifications in Nov., an increase from 13,800 the previous month. (Image credit: realtor)
Homeowners Benefit from Government Programs Read More
According to a new survey of 48 professional forecasters by the National Association of Business Economics, residential investment is finally contributing to economic growth. Nationalmortgagenews informs MHProNews home purchases and residential construction grew by 12 percent in 2012 as opposed to 2011 when growth was negative -1.4 percent, and is
Housing Adding Vitality to Economy Read More
Bloomberg tells MHProNews of all the 24 commodities tracked by Standard & Poor’s GSCI Spot Index, lumber features rose to a six-year high, having surged 37 percent this year. Following the collapse of the housing market in the U.S., a glut of wood drove prices down, but they have more
Rise in Lumber Prices will Reflect in New Homes Read More
Real estate brokerage Redfin of Seattle says survey results indicate there will be strong consumer demand for homes starting in early Jan., and combined with low inventory should keep prices rising. According to originationnews, the number of people looking for a new home who expect the price to rise has
Brokerage: Sales, Prices Stronger in 2013 Read More
