The National Association of Home Builders (NAHB) states the NAHB/First American Improving Markets Index (IMI) shows four more markets are showing sustained and measured improvement than last month, bring the total to 84 for July. The IMI is based on monthly figures relating to employment growth, house price appreciation, and […]
Housing Index Nudging Up Slowly Read More
azstarnet reports the two major mortgage market overseers in the federal government are trying to convince private lenders to ease up on lending restrictions that have become tighter than those required by Fannie Mae and Freddie Mac, which are under the jurisdiction of the Federal Housing Finance Agency, and the
Fed Lending Reforms due Soon Read More
The Manufactured Housing Institute (MHI) will testify before the House Financial Services Subcommittee on Financial Institutions and Capital Markets July 11 concerning the impact of Dodd-Frank on residential mortgage reforms. Clayton Homes General Counsel Tom Hodges, representing MHI during the hearing, will address the measure’s unintended consequences that limit credit
Congressional Hearing Set on Dodd-Frank Impact Read More
Senior Housing News states although household net worth across all age groups fell 35 percent between 2005 and 2010, from $102,844 to $66,740, for 65+ homeowners the drop was only 13 percent, from $195,890 to $170,128. The 35-and-under households median net worth dropped from $8,528 to $5,402, a 37 percent
Seniors Fare Better During Housing Crunch Read More
CNNMoney says Trulia reports rents in the U.S. rose an average of 5.4 percent June 2011 to this past June, as foreclosed former homeowners and would-be homebuyers turned away by lenders drive up demand. Asking prices on for sale homes only increased 0.3 percent for the same period. In metropolitan
Rents on the Rise, Home Prices on the Fence Read More
NationalMortgageNews reports the Tuscaloosa Credit Union (TCU) in Alabama is backing a program to help home buyers with poor credit realize their dreams of home ownership, following the departure of the big banks. After the mortgage rules changed, the second and third mortgages attached to the four homes prevented the
TCU in Ala. Backs Affordable Housing Project Read More
Altos Research says their study indicates the inventory of homes on the market is a third below where it was last year, and half of what it was at the lowest point when the housing bubble burst. The low inventory is pushing prices up as demand increases. Are the banks
Underwater Borrowers May Float Again Read More
Bloomberg News states while construction shrank and mortgage approvals declined in May in the United Kingdom due to economic uncertainty there, 4.6 million homes changed hands in the U.S. in May at a seasonally-adjusted annual rate, according to a report from the National Association of Realtors (NAR). The average 30-year
Housing Market Poised for Recovery Read More
The energy and mineral fields north and west of Friendship Homes in Montevideo, Minnesota are making the modular builder crank out seven modules daily, but that number is expected to rise to 12 in the near future. wctrib says the oil patch in western North Dakota, the destination for its
Modular Business Booming Read More
The DailyNewsOnline reports a $400,000 New York state grant to replace pre-1984 factory-built homes with new MH will be directed by Genesee Counties’ Housing Initiative Committee in collaboration with the non-profit Pathstone Corporation. The goal is to replace eight owner-occupied homes in Genesee and Orleans Counties with energy-efficient units. There
NY Funds to Replace pre-HUD Code Homes Read More
According to the Manufactured Housing Institute’s (MHI) monthly report, shipments of manufactured homes rose to 5,211 for May, an increase of 16.7 percent over May 2011, as well as an increase over the 4,630 manufactured homes shipped in April 2012. MHProNews.com has learned this marks the tenth consecutive month of
MH Shipments Rise Again Read More
RealtorMag reports the Commerce Department says new, single-family home sales rose to 7.6 percent in May, the best pace since April 2010, and up 20 percent year-over-year. New home prices are rising as well: Prices increased 5.6 percent over last year, and are now at a median price of $234,500.
Pace Quickens for New Home Sales Read More
OriginationNews states the CoreLogic House Price Index (HPI) notched its third consecutive monthly increase as house prices rose 1.8% in May, an increase of two percent over May 2011, and is expected to rise another 1.4% in June. Anand Nallathambi, president and chief executive officer of CoreLogic says the limited
Home Prices Nudge up in May Read More
According to the Arizona Daily Star, the tough new Federal Housing Authority (FHA) loan restrictions that could have negatively affected one third of mortgage applications have been lifted to be replaced with a more lenient policy. Scheduled to have taken effect July 1, 1012, the original plan would have required
FHA Loan Restrictions Eased Read More
The NorthKitsapHerald reports from Poulsbo, Washington incorrect serial numbers on a house, an MH paid for but not delivered, incomplete contracts, purchase and sale agreements withheld, and uncompleted work on a manufactured home are all charges being leveled at Kelly Rohr, owner of Golden Homes of Poulsbo, just outside Seattle.
Is the Gold Tarnishing at Golden Homes? Read More
From Canandaigua, New York writing in MPNnow, Don Semifero offers percentages of differences between a site-built and a manufactured home to make his case to the Victor, NY assessor that they should be assessed at different rates. He ticks off the percentages MH owners lose: 2-3 percent for not owning
MH Should Assess Less than Site-Built Read More
Following a Daily Business News post from June 18, 2012 about two MHCs in Carver, Massachusetts being snatched from the jaws of Equity Lifestyle Properties and becoming co-operatives, MHProNews has learned from boston, according to MA law, MHC residents have the first right of refusal if their community is being
And Now for the Rest of the Story…….. Read More
MarketWatch reports the U.S. Census Bureau says American homeownership fell from 66% to 65% in Q1 2012, the lowest point in 15 years, especially noteworthy because historically spring marks the home buying season. At its peak in 2004 it was 69%. Dan McCue of Harvard University’s Joint Center for Housing
MyWestTexas reports within a few days of announcing an upscale 185-site MHC to be built in Midland, Texas, the developers received 380 inquiries from interested individuals. Project partners LubbockInvest and Great House Solutions of Odessa, TX, expect to keep the rates between $1200-1500 a month, which will include the site
MHC Planned in Housing Tight Texas Read More
While some analysts predict the housing market will not turn around until later next year, Seeking Alpha‘s Mike Kapsch lists several reasons it may return yet this year: More building permits were applied for in May than in the past 3 1/2 years, and the U.S. Department of Commerce upwardly
Housing Market Rebounding this Year? Read More
