News Reports: Housing news updates and reports for Manufactured Home and Modular Housing Industry professionals and investors. Business – daily fact checks, market reports, and analysis.
Marking the third consecutive month of falling sales, the National Association of Realtors (NAR) reports sales of previously-owned homes edged down 1.2 percent to a seasonally-adjusted annual rate of 4.9 million homes sold. The combination of rising mortgage rates, low inventory of available homes and tight credit have contributed to […]
Sales of Existing Homes Fall Read More
City officials in Port Lavaca, Texas have imposed a six month ban on the development of new manufactured housing communities (MHCs) to allow the creation of new regulations. In the wake of the oil boom in the area, according to victoriaadvocate.com, two developers had applied for permission to build MHCs,
Moratorium Imposed on Manufactured Homes Read More
Investors stepped back from the market following yesterday’s run-up after the Federal Reserve announced it would begin tapering its stimulus in the coming months. CNNMoney reports the Dow Jones Industrial Average gained a mere +11.11 points, +0.07 percent, to close at 16,179.08. The Nasdaq dropped -0.29 percent, -11.92 points, to
Patrick Industries Gains, Nobility Homes Falls, Dow Nudges Up Read More
Sun Communities, Inc. (NYSE:SUI) has announced a quarterly dividend of $0.63 per share payable to shareholders of record on Dec. 31, 2013. This represents a $2.52 annualized dividend with a yield of 5.95 percent payable Jan. 17th. Three equities research analysts have issued a buy rating on the stock, while
Sun Communities Declares Quarterly Dividend Read More
Announcing financial results for its fiscal year ending Nov. 2, 2013, Nobility Homes, Inc. reports sales increased 17 percent to $18,525,950 as compared to $15,834,971 for the same period last year. Net income after taxes for the year rose to $747,106 from $49,759 FY 2012. Diluted earnings for the year
Nobility Homes’ Revenue and Income Rises in 2013 Versus 2012 Read More
After going through a nasty foreclosure, architect Macy Miller of Boise, Idaho did not want to deal with a mortgage or banks, and built her own 196 square foot modular home on a flatbed truck for $11,400. Doing most of the work herself, the home has a king-size bed, an
Architect Builds Own Modular Home Read More
Architect Stuart Emmons of Portland, Oregon has designed a 265-square-foot, modular, mini-studio for homeless people called I’mHome. After seeing shipping containers converted into living quarters in China, Emmons, realizing a container could not comply with the Americans with Disabilities Act (ADA), took a different approach, designing the modular nine-unit Kah
Portland Architect Designs Modular Studio Unit for the Homeless Read More
Drew Industries, Inc. subsidiary Lippert Components, Inc. has acquired Fortress Technologies LLC of Middlebury, Indiana for $3.3 million. Fortress is a specialized manufacturer of recreational vehicle (RV) chassis with an estimated annual sales revenue of $3 million, according to RVBusiness.com. “The people and assets we’ve added from Fortress Technologies will
Lippert Acquires Chassis Manufacturer Read More
Investors responded positively to the Federal Reserve’s decision to begin tapering its $80 billion monthly stimulus to keep interest rates down, sending the Dow skyward 300 points. CNNMoney reports the Dow Jones Industrial Average spiked 292.31 points, +1.84 percent, to close at 16,167.97. The Nasdaq gained 1.15 percent, +46.38 points,
Most Tracked Housing Stocks, Three Major Indexes All Rise Read More
The 18 manufactured housing (MH) and recreational vehicle (RV) communities in San Angelo, Texas, each have different variances and maintenance regulations, and the city wants to establish uniform ordinances in response to the influx of workers drawn by the Eagle Ford Shale oilfield in southwest Texas. Concern resonates among city
City Strives to Govern Manufactured Housing and RV Communities Read More
In November housing starts rose 22.7 percent to a seasonally-adjusted annual rate (SAAR) of 1.09 million, according to data from the U. S. Department of Commerce, the highest rate since Feb. 2008. Additionally, Bloomberg.com informs MHProNews permits for new housing hit close to a five-year high, indicating construction will continue
Housing Starts: Growing Demand Trumps Higher Mortgage Rates Read More
The U. S. Department of Housing and Urban Development is providing $14.8 million in redevelopment funding for approximately 19,000 seniors with low-to-very low incomes in order to prevent their displacement from 1,700 units located in 12 properties across six states. Part of HUD’s Section 202 “Supportive Housing for the Elderly”
Senior Affordable Housing gets Boost from HUD Read More
The 2014 Louisville Manufactured Housing Show is just a little over a month away. A sold out show and attendee registrations running well ahead of 2013 all suggest an even stronger event to kick off the 2014 selling season. For those who haven’t been to this or other factory built
2014 Louisville Manufactured Home Show Video Preview Read More
Following up the story MHProNews posted Dec. 11, 2013 regarding workforce housing and recreational vehicle (RV) regulations in Richland County, Montana, County Planner Marcy Hamburg says any parcel of land that is also rented/leased as temporary housing–RVs, park models, modular, campers, travel trailers, skid units—is considered a subdivision. As such
Montana County Enforces Workforce Housing Regulations Read More
During Q3 2013 an additional 791,000 U. S. homes returned to positive equity as home values continue to rise, bringing the number of mortgaged residential properties with equity to 42.6 million. The number of homes remaining in negative equity fell from 7.2 million at the end of the second quarter
More Homes Lifted out of Negative Equity in Q3 Read More
The board of directors of Canada-based Killam Properties, Inc. has declared a monthly dividend of $0.04833 per common share to be paid on Jan. 15, 2014 to shareholders on record as of Dec. 31, 2013. As 4-traders.com reports, the company offers shareholders the opportunity to reinvest their dividends in additional
Canada’s Killam Properties Declares Monthly Dividend Read More
Some higher-priced mortgages will be exempt from certain appraisal requirements following the issuance of a final rule by six financial regulatory agencies. In order to make sure a loan is sound, a physical visit with written appraisal must be made to see the interior of a home prior to making
New Guidelines Regarding Appraisal Requirements Released Read More
Investors shied away from the market today as they await word from the Federal Reserve on its plans regarding the stimulus program of buying $85 billion bonds each month. As a result, the three major indexes moved little in today’s trading. CNNMoney reports the Dow Jones Industrial Average dropped -9.31
Little Movement in Tracked Housing Stocks, Three Major Indexes Read More
Drew Industries Inc.(DW) of Elkhart County, Indiana announces it will begin trading of ex-dividend Dec. 18, 2013, paying $2 a share which is scheduled to be paid Jan. 6, 2014. Even purchasers of the stock before the ex-dividend date can receive the cash dividend payment, according to nasdaq.com. Drew’s stock
Drew Industries is Paying a $2 Dividend Read More
Senators Joe Donnelly (D-IN) and Tom Coburn (R-OK) introduced S. 1828, The Preserving Access to Manufactured Housing Act in the Senate as a companion to House Bill 1779 of the same name that protects the ability of manufactured home owners to buy, sell and refinance homes. The new guidelines issued
