Writing in Vancouver, Canada’s North Shore News, Kevin Vallely states homes of the future will be more economically and environmentally sound. Noting the decline of the McMansions in favor of quality over quantity, he says homes will be smaller as energy-efficient, cost effective technologies and building practices incorporating greener alternatives […]
Homes of the Future: More Factory-Built Read More
The National Association of Home Builders (NAHB) says U.S. Census figures and HUD statistics report April registered a 2.3 percent gain in housing starts, marking a 717,000 seasonally-adjusted annual rate (SAAR). Single-family home construction was up 2.3 percent while multi-family gained 3.2 percentage. MHProNews.com has learned from various sources while
Housing Starts Edge Up in April Read More
A collaboration of nonprofits and an anonymous land donor are determined to maintain affordable housing on Maine’s Islesboro Island. BangorDailyNews informs us building new homes or renovating older ones on the island can prove costly in terms of transportation of materials. Islesboro Affordable Property (IAP) and Genesis Fund contracted with
Island Community Receives Modular Homes Read More
NationalMortgageNews tells MHProNews.com $462 billion in residential mortgages were funded in Q1 2012, the highest volume since the fourth quarter of 2010. The numbers are based on secondary market loan purchases reported by Fannie Mae, Freddie Mac, and Ginnie Mae. For 2010 the industry funded $1.67 trillion in home loans,
Residential Mortgages Set High Mark for Q1 2012 Read More
According to LegalNewsLine, a Ventnor, New Jersey couple charged with a fraudulent modular investment opportunity agreed to pay $35,000 in restitution and civil penalties by Aug. 31 as a settlement. As announced by NJ Attorney General Jeffrey Chiesa, if the defendants, Dennis and Maria Bracall, miss the deadline they and
Couple Agree to Restitution Agreement Read More
NationalMortgageNews says new data shows the number of loans in foreclosure plus loans delinquent 90 or more days increased June 2011 to Dec. 2011 from 9.2 percent to 9.7 percent, following six consecutive quarters of decline. Foreclosure-Response.org notes, for the 100 largest metropolitan areas, the foreclosure rate has risen to
Foreclosures Increased Final 7 Months of 2011 Read More
David Stiff, chief economist at Fiserv, a financial analytics firm, forecasts housing prices will begin rising later this year and increase four percent a year for the next five years. CNNMoney says according to the National Association of Realtors (NAR), around half of 146 metro housing markets surveyed indicated a
Different Takes on Housing Market Read More
The U.S. Department of Housing and Urban Development (HUD) and the Department of the Treasury, in their April 2012 housing scorecard, report mortgage delinquencies are significantly below levels of a year ago, having declined four straight months; and sales of existing homes in the first quarter were 5.3 percent better
Housing Outlook Promising, but Still Mixed Read More
Sys-ConMedia reports 29,000 cooperative businesses nationwide will be represented when 150 leaders of the National Cooperative Business Association (NCBA) gather at the White House May 4 with top policy makers to discuss their roles in job creation and business development in their communities. Liz Bailey, CEO of NCBA says cooperatives
Co-ops Descend on White House Read More
MHProNews.com has learned from MyrtleBeachonline two South Carolina men were each sentenced to three years in federal prison for falsifying loan applications to banks to obtain mortgages on manufactured homes that were never delivered. Conway, SC MH dealer Glenn Vaught and mortgage broker Michael Fortenberry provided false documentation to obtain
MH Fraud Crime Results in Doing Time Read More
OriginationNews says, according to the Census Bureau, the inventory of vacant homes for sale in Q1 2012 dropped to 1.65, 18 percent lower than one year ago. The number of vacant homes for sale was last below 1.6 million six years ago. MHProNews.com has learned from Census Bureau data the
Vacant Homes Sales Price Hitting Bottom? Read More
Discount merchandiser Costco is entering the mortgage and student loan business, OriginationNews tells MHProNews.com. Already into financial services with marine and recreational loans, credit cards, health and auto insurance, and investing services, Costco has partnered with New Jersey-based First Choice Bank and ten other lenders to offer full-service home loans.
Big Box Discounter Offering Mortgages Read More
As follow-up to an article we published Feb. 17, 2012, The New York Times reports the first MEDCottage will be delivered this month to a family in Alexandria, Virginia. As an alternative to placing aging family members in a nursing home, this 12-by-24 bedroom-bathroom-kitchenette modular unit, designed to fit in
Modular Unit to Keep Seniors Safe and Close Read More
NationalMortgageNews reports the Texas Association of Realtors says the volume of home sales increased the first quarter by 12 percent, including 45,502 single-family homes. The median price of the houses sold rose 2.7 percent over the same period last year, to $147,100. The inventory of houses on the market dropped
The Rising Star of Texas Read More
The American Association of Retired Persons (AARP) reports the Pew Research Center says over 20 percent of adults 25-34 live in a multigenerational setting, the highest level since the 1950s. The so-called Boomerang Generation are moving in with relatives due to economic necessity. The Washington Post says the recession cut
Household Growth Remains Slow Read More
Two Illinois men have been charged with defrauding investors out of $800,000 in a modular home building scam, the DailyHerald tells MHProNews.com. Richard Osty of Waukegan and Ronald Moore of Wheaton allegedly told investors $1,500 (sometimes more) would get them a loan for a green modular home, a one dollar
Pair Accused of Paring Investors in Modular Scam Read More
Benzinga tells MHProNews.com the Pending Home Sales Index rose to 101.4 in March, up 4.1 percent from the 97.4 figure in Feb. 2012. Based on signed real estate contracts for all types of housing, the Index is 12.8 percent above March 2011 when it was 89.9, according to the National
Signed Sales Contracts=Good Q2? Read More
According to NationalMortgageNews, Lender Processing Services (LPS) reports the national delinquency rate fell six percent from the previous month to 7.09 percent as of March 31, 2012. For the 40 million mortgages analyzed by LPS, March is the third consecutive month the rate has fallen, reaching a new low last
Delinquencies Decline, Foreclosures Take Time Read More
The National Association of Home Builders (NAHB) tells MHProNews.com sales of newly built, single-family homes dropped to a seasonally-adjusted annual rate (SAAR) of 328,000 units in March, a 7.1 percent decline from the 353,000 homes in February. NAHB Chief Economist David Crowe says, “The March decline is from a stronger-than-expected
New Home Sales Fall in March Read More
MarketWatch reports the value of U.S. homes rose 0.5 percent Feb. to March 2012, marking the largest increase since 2006 when home values also rose 0.5 percent, according to the Zillow Home Value Index (ZHVI). However, the Zillow Home Value Forecast predicts home values will fall nationally 0.4 percent during
Zillow: Housing Market will Bottom this Year Read More
