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.
The World Property Channel reports according to CoreLogic’s latest report, the foreclosure rate fell by 17 percent Oct. 2011 to Oct. 2012, from 70,000 down to 58,000; the Sept. drop was from 77,000, a 25 percent fall. By comparison, completed foreclosures averaged 21,000 from 2000-2006. 1.3 million homes, 3.2 percent […]
Foreclosures are Leaving the Scene Read More
MHProNews has been informed the RV/MH Hall of Fame in Elkhart, Ind. will officially open its rental venue, the Northern Indiana Event Center (NIEC), on Thurs., Dec. 18. Local dignitaries, including Greater Elkhart Chamber of Commerce President Phil Penn, will assist in the ribbon-cutting. A light reception will follow the
Ribbon Cutting at the Hall Read More
MHProNews has learned from HK&C attorney Robert Coldren that the Huntington Beach (CA) City Council has tentatively approved the subdivision map application for Pacific Mobile Home Park to become a resident-owned community. A recent ruling from the state supreme court requires communities in coastal zones be subject to the Mello
City Approves Conversion of MHC to Co-op Read More
American Banker reports the Senate Banking Committee, two years after implementing Dodd-Frank, will likely review the impact of the regulations on the marketplace to determine what may need to be altered. The agenda has not been set yet for the coming year because Committee Chairman Tim Johnson (D-S.D.) wants to
Will the Senate Alter Dodd-Frank and CFPB Regulations? Read More
Disappointing news about U.S. manufacturing data combined with ongoing concerns over the fiscal cliff sent stock markets drifting lower today, as CNNMoney reports the Dow Jones Industrial Average slipped -0.46 percent, -59.98 points, ending the the first trading day in Dec. at 12,965.60. The Nasdaq moved down -0.27 percent, -8.04
Deer Valley Falls 9%, Sun Rises Read More
ApplianceMagazine reports Whirlpool Corp. has inked a single-source supplier agreement with Clayton Homes, Inc. of Maryville, Tenn. Beginning Jan. 1, 2013, Clayton’s customers will be able to choose from a variety of Whirlpool’s kitchen appliances. A subsidiary of Warren Buffett’s Berkshire Hathaway, Clayton is the largest producer of manufactured and
Clayton, Whirlpool Deal Read More
Though not reflecting closings, the National Association of Realtors (NAR) tells MHProNews the Pending Homes Sales Index (PHSI) rose 5.2 percent Oct. over Sept. 2012 to 104.8, and 13.2 percent over Oct. 2011. Pending home sales have risen for 18 consecutive months, and are are at their highest level since
Pending Home Sales on Upswing Read More
Bloomberg reports Marilyn Cotterman of Brownsburg, Ind. put $40,000 in a self-directed IRA that allowed her to invest in manufactured housing, earning a multiple of the original investment in three years. As a Roth Ira, gains and income accrue tax free providing you do not benefit in any financial way
Self-Directed IRA Earns 15% from MH Read More
As follow-up to a story Nov. 26, 2012 in which Staten Island (NY) Borough President James Molinaro said he would not accept “colonies of trailers” to house those displaced by Hurricane Sandy, a SRO crowd in a high school gym of survivors now in their fifth week of homelessness voiced
Staten Islanders Fed Up Read More
The Province in Vancouver, British Columbia, Canada says the last of four seniors at Abbotsford’s Garden Village MHC, which once was home to 101 residents will be moving before the official closure of the community Jan. 15. While provincial law requires owners to give residents 12 months written notice plus
The Cape Coral Daily Breeze tells MHProNews sales of manufactured homes and homesites have begun early in North Fort Myers, Fla. Margaret Black of Horizon Village Co-op, Inc. says this summer was the busiest she’s ever seen at Horizon, a resident-owned 55+ community of half shareholders and half renters. “Our
MH Sales Rise in Florida Read More
TheDailyJournal reports from south central New Jersey that American Custom Modular of Millville, NJ will hire nearly 50 new workers as part of a project to build over 180 modular townhomes for Winslow Commons in Camden County, north of Millville. Founded last year by Jeffrey DiMatteo and Gino Ciancaglini, the
Modular Project Slated for Southern NJ Read More
According to the S&P/Case-Shiller Index, home prices registered the largest gain in over two years, moving up 3.6 percent in the third quarter over Q3 2011. CNNMoney reports the increase was the biggest since the second quarter of 2010 when the homeowner’s tax credit of up to $8,000 ended. A
Home Prices Post Largest Gain in Two Years Plus Read More
Investors stayed on the sidelines today as political gridlock gripped lawmakers in their attempts to resolve the fiscal cliff crisis. Economic data indicating spending fell 0.2% and personal income remained unchanged in October did not help matters any as the three major indexes barely moved. CNNMoney reports the Dow Jones
Skyline Flies High as Most Housing Stocks Move Little Read More
MHProNews has been informed by attorney Robert Coldren about a 6-1 decision handed down by the California Supreme Court Nov. 28, 2012. The court held that an MHC being converted to resident ownership within the Coastal Zone (defined as within 1,000 yards from the mean high tide line) is considered
Calif. Court Ruling Affects Coastal MHCs Read More
The government’s Home Affordable Refinancing Program (HARP) saw a 75% growth over all of last year in the first nine months of 2012, amounting to 700,000 loans, according to nationalmortgagenews. Edward DeMarco, acting director of the Federal Housing Finance Agency (FHFA) suggested the numbers might hit one million by year’s
More Underwater Borrowers Grasp Lifeline Read More
Do not buy a home, a municipal bond, or invest capital in a state where private sector workers are outnumbered by people who receive government funds, whether as a government employee (local, state or federal) or recipient of Social Security or welfare, says William Baldwin in Forbes. Dividing the states
If Takers Outnumber Makers, Stay Away Read More
U.S. stocks rose modestly today but fell back somewhat following news that negotiations over the fiscal cliff produced no substantive results. CNNMoney reports the Dow Jones Industrial Average managed a gain of +0.28 percent, +36.71 points, ending the day at 13,021.82. The Nasdaq moved up +0.68 percent, +20.25 points, to
Housing Composite, Most Housing Stocks Gain Read More
Harking back to a story that began in 2006 when Garden Homes Management Corp. first proposed a 124 site MHC in Oxford, Conn. that has been stymied by numerous hearings, commissions, courts, and studies, the Stamford, Conn. developer is appealing a ruling by the Inland Wetlands Agency that the development
Garden Homes Sues over Proposed Development—Again Read More
With a dividend yield of 1.07%, NASDAQ says Universal Forest Products, Inc. (UFPI) has declared a cash dividend payment of $.20 per share scheduled for Dec. 15, 2012 to shareholders of record prior to Nov. 28, 2012. UFPI has paid the same dividend for the last seven quarters. The company’s
UFPI Declares Cash Dividend Read More
