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.
OriginationNews says Amherst Securities Group reports lower-priced housing loans will outperform jumbo loans at current prices, suggesting investors should look for bonds with smaller loan sizes. The report says a government bulk REO sale would stabilize the low-income housing prices, and clear out many of the 3.2 million homes in …
InsuranceNewsNet has issued a report from Housing and Urban Development (HUD) saying the mortgage insurance premiums (MIPs) for certain FHA multifamily housing and health care facilities will increase 15 basis points FY 2013. The market-rate for new construction/substantial rehabilitation loans will rise 20 basis points (except 223(a)(7) will increase five …
Based on sales growth of shares, two of the top five residential real estate investment trusts (REIT)s are MHC owners. Equity Lifestyle Properties (ELS) tops the list with a sales growth of 31 percent, nearly twice that of second place Mid-America Apartment Communities at sales growth 16.1. Essex Property Trust …
KRMGRadio says the first modular units for the Red Clay Casino have arrived in Broken Arrow, Oklahoma, just southeast of Tulsa. Being developed by the 450 member Kialagee Tribal Town from Wetumpka, OK, the project has become a lightning rod for opponents of the casino, including a state lawsuit to …
In its Week in Review newsletter, the Manufactured Housing Institute (MHI) is urging its members to contact their congressional delegation to support H.R. 3849, legislation introduced by Reps. Stephen Fincher of Tennessee, Joe Donnelly of Indiana, and Gary Miller of California. The Preserving Access to Manufactured Housing Act seeks to …
CNNMoney tells MHProNews.com stocks dropped sharply following the news Friday that the economy only added 120,000 jobs in March, resulting in the Dow Jones Industrial Average falling 1.00 percent, -130.55 points, to close under 13,000 at 12,929.59. The Nasdaq likewise dropped a little more than one percent, -33.42 points, to …
The AspenTimes reports non-profit Roaring Fork Community Development Corp. (RFCDC) bought the Pan and Fork Mobile Home Park in Basalt, Colorado last year and has submitted preliminary plans to the town government to redevelop just under half of the property into a 112,000 square-foot combination retail, hotel, classroom, non-profit organizations, …
MHC to be Redeveloped into Commercial, Non-profit, and Park Read More
Long-time MH industry member and state association executive Chelu Travieso passed away March 30, 2012 in Orange, California. A native of Cuba, Ms. Travieso served as a trade association executive representing MHC owners and managers, as well as with non-profits to promote the industry through education since she began in …
NaplesNews tells MHProNews.com Jacobsen Homes of Safety Harbor, Florida has rolled out its new 495 square-foot Starfish Home. Measuring 13′ 4” by 37 feet long, this one-bath, one-bedroom manufactured home has the kitchen and bath amenities of much larger homes, including space for a washer/dryer combo and cathedral ceilings. The …
ConcordMonitor says Foxy Terrace Cooperative in Derry, New Hampshire became the 100th resident-owned manufactured housing community in the state Feb. 19, 2012. Many of the cooperatives were years in the making, due to most lending institutions’ reluctance to finance a collective of primarily low-income residents, which comprise the majority of …
From St. Petersburg, Florida MHPronNews.com has learned from the Beach Beacon sales in the overall residential property sector in Pinellas County only increased two percent Feb. 2011 to Feb. 2012, but the median sales price for the same period rose nearly 18 percent. Similarly, for single-family homes, the same period …
At the Modular Building Institute’s (MBI) annual conference in Orlando, Florida last week, the president of Whitley Manufacturing, Simon Dragan, was inducted into the association’s Hall of Fame as part of its World of Modular event. A veteran of the modular industry for over 30 years, Dragan came to the …
Modular Trade Association Honors Hall of Fame Inductee Read More
The U.S. stock markets are closed today in observance of Good Friday. Happy Easter and Happy Passover from MHProNews.com.
Faqs tells MHProNews.com Tampa, Florida-based Deer Valley Corporation (DVLY:OTCBB) has agreed to purchase all of the company’s outstanding preferred stock from its majority shareholder, Vicis Capital Master Fund, as well as 1,096,291 shares of Deer Valley’s common stock. The option also gives the company the right to repurchase 12,310,359 shares …
According to BostonHerald the sale of homes in Massachusetts increased 9.7 percent in Q1 this year as compared to 2011, continuing a trend that began in 2009 when the housing market bottomed out. The MLS Property Information Network says the state’s median sales price fell less than one percent to …
WisconsinRapidsTribune tells MHProNews.com Ferkey Builders has received preliminary approval for a modular home community for people 50 and older in the central Wisconsin town of Saratoga. The 48 homes would each be sited on a half-acre with one bedroom models starting at $100,000. A resident who said the town’s ordinance …
From Freehold, New Jersey the SacramentoBee says UMH Properties has completed the underwriting of one million shares of its 8.25% Series A Preferred Stock at $25.292 per share, and anticipates a net return of $24,500,000 before expenses. The company intends to acquire additional properties and pay down debt with the …
The National Association of Home Builders (NAHB) Improving Markets Index (IMI), based on employment, housing permits, and house prices showed a slight improvement, adding a net gain of two, March to April. Thirteen markets were added and eleven fell from the ranking, while 88 markets remained, rising just above the …
Following up on a story we published Sept. 8, 2011, ReinforcedPlastics says Toronto, Canada-based Innovative Composites International, Inc. (ICI) has completed its Orangeburg, South Carolina plant designed to produce five million square feet of modular homes annually. The 880 square-foot EcoScape homes, a modular unit especially designed for affordable housing …
CNNMoney tells MHProNews.com jitters over the continuing European debt crisis tempered the slight good news anticipated in the job market, resulting in the Dow Jones Industrial Average dropping -0.11 percent, -14.61 points, to close at 13,060.14. The Nasdaq moved up +12.41 points, +0.40 percent to close at 3,080.50, while the …
Dow Edges Down, MH Composite Rises, MH Stocks Mixed Read More
