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 Roanoke Times says building of a 70 unit modular townhouse project has begun in Christiansburg, Virginia, to provide affordable housing and to stimulate the economy. Called Forest Hills at Belview, the $13.5 million venture will offer housing to those who meet strict low-income guidelines. Funded by the Obama administration’s …
The Dow was nudged upwards by positive corporate profits 42.61 points to end the week at 12,479.73, while housing stocks closed mixed. The Manufactured Housing Composite lost .74 percent to close at 1051.60. Sun Communities was up 1.75 percent, ELS gained .89 percent and MSCI moved up .05 percent. Palm …
The Ottawa Citizen says modular home builder Guildcrest Homes is opening a retail outlet in Carleton Place, a town of 10,000, west of Ottawa, in an attempt to reach out to its customer base. While the 250 homes it builds each year are built in Morewood, this 1,000 square-foot show …
SmallCapInvestor reports that Universal Forest Products (NASDAQ:UFPI) posted a 21 percent increase in its stock price today to top the list as the top performing small cap stock. Universal makes wood and wood alternative components for manufactured and modular housing. Despite a 69 percent drop in its profit for the …
The Curry County Reporter in Oregon reports the residents of what was a land lease community (LLC) in Gold Beach, Oregon, have successfully formed a non-profit co-op that has become Saunders Creek Homeowners Cooperative. When the owners put the 43 home site land up for sale, the residents received purchase …
The Union Leader reports Gov. John Lynch of New Hampshire for the second time has vetoed a measure that prevents local government from mandating sprinkler systems in planned one and two family homes as a prerequisite for a permit. The bill would also prevent enforcement of existing regulations that require …
The Laurel Outlook of Laurel, Montana, says the Yellowstone County Sheriff’s office will conduct a public auction sale of 43 manufactured homes August 9 in the Yellowstone County Courthouse. The amount of the delinquent property taxes plus fees, interest and associated costs will be the starting bid for each home. …
NPR News says a nasty ancillary result of the housing crisis is the growth of mold in foreclosed houses, exacerbated by the drawn out process of paperwork, causing many houses to sit closed up for years. Normal comings and goings in a house ventilate the interior, drawing moisture up to …
As Foreclosed Houses Grow, So Grows a Costly By-product Read More
The Dow faltered as the Fed sent word it may not offer a much stimulus as previously indicated, and housing stocks fell as well. The Dow lost 54.49 points to close at 12,437.12, while the Manufactured Housing Composite dropped 5.58 percent to end the day at 1059.50. Cavco fell 5.93 …
Dow Drops as Fed Rescinds Stimulus; Housing Stocks Down Read More
In a communiqué to MHMSM.com, Mountain View Estates community owner David Roden and Spencer Roane, the Georgia Manufactured Housing Association’s (GMHA) Community Owners Representative, have an upcoming meeting with Federal Emergency Management Agency (FEMA) and Georgia Emergency Management Agency (GEMA) officials to discuss housing for disaster victims. Noting that the …
The Times Daily says only 4,712 of the 44,209 loan applications distributed by FEMA across Alabama following the deadly tornadoes of April 27 have been returned. Maximum Federal Emergency Management Agency (FEMA) emergency assistance for a new home, or repairs to a damaged one, is $32,000, not enough for a …
Financial Planning says Harvard University’s Joint Center for Housing Studies reports household growth should be in the 15 million range between 2010 and 2020. But if history teaches us anything, the real key to housing market recovery is job growth. Eric Belsky, Executive Director of the Center, says, “If employment …
The Keremeos Review in British Columbia, Canada, reports the Lower Similkameen’s newest manufactured home community will be ready for residents by mid to late August. The Copper Ridge Manufactured Home Park will have 20 home sites, and electrical and plumbing connections are being completed. Owner Richard Sadovick said he has …
The Independent Mail states the Stephens County commissioners in Toccoa, Georgia, are altering an ordinance to allow pre-owned manufactured homes to be moved into the county, or within the county, based on health and safety, not age or appearance. This change will put the county in line with state regulations. …
Origination News says under a new home-buyers incentive program by Fifth Third Mortgage Co. of Cincinnati, Ohio, borrowers can have a reduced rate on their purchase money mortgage. They can choose to have their basis points lowered by 12.5 basis points over the life of the loan, or by 100 …
Creative Incentives Offered to Attract Home Buyers Read More
The Dow gained 44.73 points on news of Federal Reserve Chairman Ben Bernanke’s offer to provide additional stimulus to the economy, while housing stocks closed mixed. The Dow closed at 12,491.61, while the Manufactured Housing Composite gained .71 percent to close at 1122.10. Skyline Corporation gained 3.50 percent, and MSCI …
Dow Gains Modestly on Bernanke’s News, while Housing Stocks Close Mixed Read More
Yahoo Finance reports that Killam Properties, Inc., of Halifax Nova Scotia, Canada, will release its second quarter 2011 financials for the quarter ending June 30, 2011, on Wednesday, August 3, 2011 after the market closes. The 2011 Allen Report lists Killam as the 17th largest land lease community (LLC) in …
HousingWire reports the Consumer Financial Protection Bureau (CFPB) will consult with small businesses the next few months to discuss mortgage disclosure forms and review rules under the Truth-in-Lending Act (TILA) that deal with mortgages. The bureau has 100 employees ready for the July 21 launch of the CFPB. The agency …
Market Watch reports from Warsaw, Indiana, that Brian J. Smith, Co-CEO of Heritage Financial Group in Elkhart, IN has been appointed to the Boards of Directors of Lakeland Financial Corporation and Lake City Bank. Trained as a Certified Public Accountant (CPA), Smith has been Co-CEO of Heritage since 2000, and …
CoStar Group reports Equity Lifestyle Properties (ELS) (NYSE:ELS) has closed on 35 of the 76 manufactured home communities it is acquiring from Hometown America LLC. These 35 properties represent 12,057 sites in seven states including Florida, Arizona and Michigan. This $451 million purchase is part of a larger $1.43 billion …
ELS Closes on 12,057 of Hometown’s 31,167 Home Sites Read More
