Happy New Year!!!
The staff of MHProNews wishes you and yours a Healthy, Prosperous, and Fulfilling New Year. (Photo credit: Wikipedia–New York Times Square ball drop.)
Manufactured and Modular Housing News
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.
Stock Market Closed
The U. S. stock markets are closed today in celebration of New Year’s Day. Markets will reopen tomorrow at 9 AM. (Image credit: Wikipedia–historic New York Stock Exchange)
Stock Advice from Chairman Buffett
Benzinga brings forward resolutions for 2013 that have sustained and magnified Warren Buffett’s wealth over the years, especially in light of his Berkshire Hathaway (NYSE:BRKA) stock having gained 1700 percent since 1990, much better than the 290 percent gain of the S&P 500 over the same period. Not attracted by
Stock Advice from Chairman Buffett Read More
Michigan Housing Stocks Perform Well in 2012
The detroitnews reports of the largest 64 publicly-traded Michigan firms, all but 13 saw the value of their shares increase in 2012, realizing an average return of 19 percent compared to 13.4 percent for the S&P’s 500 Index. The largest gainers have been companies in the housing and financial industries,
Michigan Housing Stocks Perform Well in 2012 Read More
New Firm Shopping for MHCs
BizJournals tells MHProNews newly-formed Inspire Communities of Gold River, Calif. intends to be a player on the national MHC scene. Formed when Follett Investment Properties combined forces with American Infrastructure MLP Funds in Foster City, Calif., just south of San Francisco, Matthew Follett, CEO of Inspire says they have already
New Firm Shopping for MHCs Read More
Stocks Move Higher; LPX, Patrick, Deer Valley Advance Well
U.S. stocks rallied to end the year on a high note as investors welcomed indications coming out of Washington that the fiscal cliff will be averted. CNNMoney reports the Dow Jones Industrial Average gained 1.28 percent, +166.03 points, landing above the 13,000 mark at 13,104.14. The Nasdaq moved up 2.00
Stocks Move Higher; LPX, Patrick, Deer Valley Advance Well Read More
Positive Housing Predictions for 2013
BusinessInsider tells MHProNews John Burns Real Estate Consulting offers the following five predictions of what will happen in the New Year in the housing market, “Assuming our leaders in DC come to some sort of agreement that keeps the economy growing and interest rates low, which seems like the most
Positive Housing Predictions for 2013 Read More
Anticipated: Modular Housing Projects in Vancouver
The Vancouver Sun says one of the hot topics in 2013, according to Adjunct Professor Michael Geller at the Simon Fraser University Centre for Sustainable Community Development, will be increased demand for modular housing in British Columbia, Canada. He says interest in factory-built methods will be spurred by the time-lapse
Anticipated: Modular Housing Projects in Vancouver Read More
Positive Housing News in VA
In its wrap-up of good deed events in Franklin County, Vir. for 2012, The Franklin News Post reports two of the stories are housing related. In Jan. 2012, Ply Gem Inc. in Rocky Mount donated the exteriors to seven new homes that were featured on ABC TV’s “Extreme Makeover: Home
Positive Housing News in VA Read More
Mods Land in Downtown Colorado
The Gazette tells MHProNews five of six scheduled modular homes have been sited on nearly a half-acre on the east side of downtown Colorado Springs, Colo. by Martin Newton of Pax Development. He originally proposed a ten unit, 42 foot tall condo for the property, and although city planning approved
Mods Land in Downtown Colorado Read More
ELS Enhances Texas Presence
MarketWatch reports Equity LifeStyle Properties, Inc. (ELS) acquired two land lease communities in Texas comprised of 1,765 sites on 175 acres for $25 million cash. Located in the Rio Grande Valley, age-restricted Victoria Palms Resort, with 270 manufactured homesites and 893 RV sites, and Alamo Palms, also age-restricted with 293
ELS Enhances Texas Presence Read More
Fake Court Documents Bring Fraud Charges
SecuringIndustry informs MHProNews websites in California are selling fake documents that can be used to stall foreclosure proceedings on properties. The phony court documents claim the debt has been repaid or the trustee has been changed. Online ads claim the documents can tie up banks in administrative proceedings for years.
Fake Court Documents Bring Fraud Charges Read More
Pending Home Sales Rise
HousingWire informs MHProNews pending home sales hit a 2.5 year high in Nov., rising 1.7 percent above the index score of 104.6 in Oct. 2012 to 106.4 last month. According to the National Association of Realtors (NAR) Pending Home Sales Index, the index score is 9.8 percent above last year’s
Pending Home Sales Rise Read More
Affordable Housing in Short Supply
NationalMortgageNews tells MHProNews despite efforts to maximize tax incentives for low-income housing development, the shortage of affordable housing across the nation is critical, according to a study by CohnReznick LLP, one of the country’s largest largest business and tax advisory firms. These findings are also supported by the Joint Center
Affordable Housing in Short Supply Read More
Major Indexes Fall; Housing Composite Advances for 3rd Consecutive Day
Stocks fell for the fifth day in a row as our leaders in Washington bluster about, with no apparent resolution in sight to the looming fiscal cliff. CNNMoney reports the Dow Jones Industrial Average slipped -1.21 percent, -158.20 points, falling below the 13,000 mark to 12,938.11. The Nasdaq moved down
Major Indexes Fall; Housing Composite Advances for 3rd Consecutive Day Read More
Co-op Organizer Finances MH Buys
According to Financial Advisor Magazine, 40 percent of the manufactured homes in the 100 cooperatively owned manufactured housing communities in New Hampshire are appreciating in value. Since 1984 the New Hampshire Community Loan Fund (NHCLF) has helped organize these 100 communities and began financing MH purchases in 2003, loaning $25
Co-op Organizer Finances MH Buys Read More
West Coast Housing Gaining Momentum
Santa Cruz Sentinel says the median home price in Santa Cruz, Calif. as of Nov. was $510,000 for a two bedroom on the west side of this Pacific Ocean border town. The same 510k would get you a three or four bedroom home in other parts of the city. Listings
West Coast Housing Gaining Momentum Read More
Lowest Interest Rate in 65 Years
According to Freddie Mac’s Primary Mortgage Market Survey, HousingWire reports interest rates will finish out the year at near record lows. For the week ending Dec. 27, the average 30-year fixed-rate mortgage (FRM) hit 3.35 percent, down from 3.37 percent the previous week, and well below 3.95 percent from a
Lowest Interest Rate in 65 Years Read More
After Christmas Shopping for UMH?
IstockAnalyst reports MHC owner UMH Properties, Inc. has agreed to purchase ten all-age manufactured home communities comprised of 1,855 homesites on 300 acres for $67.5 million. Five of the communities are in Ind., four in Penn. and one in Mich. with an average occupancy of 83 percent. While the transaction
After Christmas Shopping for UMH? Read More
New Home Sales Up 15% over Year Ago
CNNMoney reports the Census Bureau says new home sales hit a seasonally-adjusted annual rate (SAAR) of 377,000 in Nov., an increase over Oct. of 4.4 percent and a rise of 15 percent over Nov. 2011. The highest rate of new home sales since April 2010 when the $8,000 tax credit
New Home Sales Up 15% over Year Ago Read More