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 Manufactured Housing Institute (MHI) says the number of manufactured homes shipped in May declined by 10.9 percent over May 2010. The 4,475 homes represent a 23.8 percent decrease in multi-section homes and a 9.6 increase in single section homes. Year-to-date shipments are 18,125 as opposed to 20,972 houses for …
CityBiz Real Estate in Philadelphia, PA reports that Cedar Grove MHC (manufactured home community) in Mantua, New Jersey, has secured a $4.55 million dollar loan arranged by Dockerty Romer & Company of Philadelphia. The age restricted community contains 185 homes comprised of 57 percent multi-section and 43 percent single section …
The Dow gained 93.47 points on good job growth news to close at 12,719.49, as housing stocks gained or closed even. The Manufactured Housing Composite gained .68 percent to close at 1177.20. Nobility Homes moved up 4.12 percent, Skyline Corporation climbed 1.03 percent, Sun Communities was up 1.01 percent, ELS …
Sources tell MHMSM.com that MHI and MHARR quietly prepared a joint approach to HUD in favor of appointing attorney Victor A DeRose to a vacancy in that federal agency’s manufactured housing program. DeRose, who has years of manufactured housing industry experience, declined interest in the role. Recently announced moves of …
Yahoo! Finance says unemployed borrowers with Federal Housing Administration (FHA)-backed loans will be able to remain in their homes for up to a year without making a payment and stave off foreclosure. T he goal is to allow people to remain in their homes, and thereby reduce the number of …
Government Trying to Ease Burden of Jobless Homeowners Read More
The Montreal Gazette reports Tenta Inc., of Quebec, Canada, has developed a modular home that is earthquake and flood-proof. Working with a Haitian company, Maurice Monette designed the 400 square-foot unit as a solution for Haiti’s earthquake refugees. Its high-density foam panels slide into an aluminum frame which allows the …
Earthquake-Proof Modular Homes May Be Coming to Haiti Read More
The South County Independent says the Washington County Superior Court judge in South Kingstown, Rhode Island, has ruled that Wakoma Park is legally a land lease community (LLC), supporting a ruling by the Department of Business Regulation (DBR). The Wakoma Park Homeowners Association has been trying for two years to …
Homeowners in LLC Now Have State Regulatory Protection Read More
Newby Management has been appointed as receiver of Sterling Estates in Justice, IL. The nearly 800 site community has been part of Capital First Realty’s portfolio of land- lease communities. At Sterling and another Capital First Realty location, MB Financial Bank has notified occupants of dozens of homes of their …
The San Francisco Chronicle reports from Loma Linda, California, that Hallmark-Southwest Corporation has been chosen by the California Mobile Home Park Owners Association as California Manufacturer of the Year. The company was started by craftsmen in the home building industry in 1976, and continues to be employee owned. Hallmark-Southwest offers …
YourHomeCanada says a company named Modular Additions is busy adding modular second storeys to many of the pre- and post-WWII bungalows that dot Toronto. Owner Vadja Jericevic says there are about 13 basic designs among the 70,000 bungalows in Toronto, and he has drawn up plans for each that can …
The Dow recovered from earlier losses in the day to gain 56.15 points and close at 12,626.02, as housing stocks closed mixed. The Manufactured Housing Composite lost .61 percent to close at 1169.30. ELS gained 1.63 percent, MSCI closed up 1.55 percent and Sun Communities finished up .99 percent. Cavco …
Dow Finally Ends on Positive Note, Housing Stocks Close Mixed Read More
Bloomberg News reports Housing and Urban Development (HUD) Secretary Shaun Donovan says home prices may start to increase as early as the third quarter, as the rate of foreclosures decline. Speaking on CNN, Donovan says, “The real question is when will we start to see sustainable increases. Some think it …
My San Antonio reports from Little Axe, Oklahoma, that manufactured housing that represented a failed response to Hurricane Katrina has been very well accepted by American Indian tribes, some of whom are in desperate need of decent, affordable housing. The Federal Emergency Management Agency (FEMA) originally had them constructed at …
HousingWire reports rising interest rates in response to the Federal Reserve’s quantitative easing program caused mortgage applications to fall 5.2 percent for the past week on a seasonally-adjusted basis, according to the Mortgage Bankers Association (MBA). The 30-year, fixed-rate mortgage (FRM) went from 4.46 percent to 4.69 percent, and the …
From Ontario, Canada, Niagara This Week says the Riverview Golf and Country Club is once again hosting the Help A Child Smile golf tournament to raise money for children suffering from cancer. The event is sponsored by Black Creek Leisure Homes in Stevensville, a manufactured housing community operated by Parkbridge …
The National League of Cities reports the Joint Center for Housing Studies at Harvard University says the availability of affordable housing for lower income families continues to fall as the demand increases. The affordable rental housing stock is declining due to abandonment of older buildings and conversion of property to …
Affordable Rental Housing Availability Declines as Demand Increases Read More
Market Watch reports that Sun Communities, Inc. (NYSE:SUI) will release its second quarter 2011 earnings report prior to the opening of the market on July 28, 2011. A conference call to discuss the earnings report will be held that same day at 11:00 AM. Sun Communities is a real estate …
The Dow closed slightly down, losing 12.9 points, ending a five-day winning streak to close at 12,569.87, while housing stocks closed mixed. The Manufactured Housing Composite gained 1.46 percent to close at 1176.50. Cavco Industries gained 2.46 percent, ELS moved up 1.96 percent, Sun Communities was up 1.11 percent and …
Dow Ends Five Days of Upticks, Housing Closes Mixed Read More
The Ashley County Ledger in Hamburg, Arkansas, reports Mayor Dane Weindorf said at the Hamburg City Council meeting that a representative from the United States Department of Agriculture (USDA) single-family housing program will be taking applications for home loans ranging from zero percent and up, depending upon income. He suggests …
From New Mexico, the Cibola County Beacon says Gateway Mortgage Group has opened a branch in Albuquerque, New Mexico, that will specialize in Federal Housing Administration (FHA) Section 184 loans. The Section 184 Indian Home Loan Guarantee Program was established by Congress in 1992 to provide Native Americans with access …
Privately Run Government-Funded Mortgage Program Will Not Finance MH Read More
