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.
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
Fox Business says there are several factors to consider in the housing market this summer. Mortgage rates are at near record lows, and probably will remain low for the summer unless the economy shows signs of strengthening. From 2006 to 2010, the number of owner households dropped by 201,000 each …
The Rapid City Journal reports from South Dakota that average home prices, including manufactured housing, increased $10,000 from last June to $181,500 June 2011 in Rapid City, SD. Linda Rausch, president of the Black Hills Association of Realtors, says demand not inflation has pushed the prices up. Says Rausch, “This …
Defense Video and Image Distribution System (DVIDS) reports the U.S. Army Corps of Engineers (the Corps) has let two contracts to prepare sites for homeless survivors of the May 22 Joplin, Missouri, tornado. Two sites for Federal Emergency Management Agency (FEMA) homes are being developed near the Joplin Regional Airport. …
The Chicago Real Estate Daily says come October, the maximum amount of a government-backed loan in the six-county Chicago area will drop $45,000 to $365,700. Currently a home buyer can put down 3.5 percent on the purchase of a Federal Housing Administration (FHA) approved home costing $424,870, and finance the …
The Dow had its best week in two years as it gained 1.36 percent today to close at 12,582.77, as several housing stocks also advanced. The Manufactured Housing Composite gained 1.35 percent to end the week at 1159.60. Cavco Industries gained 2.31 percent, ELS was up 2.24 percent, Sun Communities …
Following up on an article we published June 30, The Minot Daily News reports from Minot, North Dakota, that Federal Emergency Management Agency (FEMA) officials are in Minot planning the placement of what will likely become several manufactured housing developments of FEMA homes for victims of the recent flooding. Officials …
HousingWire says mortgages 90 days or more past due that are classified as seriously delinquent fell in May 22 percent, and mortgages over 30 days due also fell from 5.9 percent last year to 4.3 percent this May. Still, the Department of Housing and Urban Development (HUD) and the Treasury …
Government Urges Caution even as Seriously Delinquent Mortgages Fall Read More
The Manufactured Housing Institute (MHI) reports in its weekly newsletter that Congressional Republicans are receptive to correcting measures in the Dodd-Frank Act that unfairly impact the manufactured housing industry. Democrats on the House Financial Services Committee have not been as receptive, but ranking Democrat Rep. Barney Frank (D-MA), co-author of …
MHI Gaining Congressional Support to Amend Dodd-Frank Read More
Great Britain’s International Business Times says Jerseyville, Illinois, in the southern part of the state near St. Louis, Missouri, is the site for 32 new modular single-family green homes. Each 1,424 square foot three bedroom home in the Lexington Farms development has the Leadership in Energy and Environmental Design (LEED) …
Green Affordable Modular Housing Rises in Illinois Read More
Market Watch says Sun Communities, Inc., (NYSE:SUI) has declared a quarterly dividend of $0.63 per share for the second quarter 2011, payable July 22, 2011 to shareholders as of July 12, 2011. The company has 21.5 million outstanding shares. Sun Communities, a real estate investment trust (REIT) owns and operates …
In a special report from Joe Kelly of the Iowa Manufactured Housing Association (IMHA), MHMSM.com has learned that State Fire Marshal Ray Reynolds, in commemorating the 100th anniversary of the state fire marshal’s office, wants to make sure every Iowa house has functioning smoke alarms. He met with the IMHA …
The Dow ended the first six months of the year on an uptick, gaining 1.25 percent to close at 12,414.34, as several housing stocks ended the day strong. The Manufactured Housing Composite gained 1.89 percent to close at 1144.10. Skyline Corporation moved up 3.24 percent, Nobility Homes gained 2.83 percent, …
Yahoo! Finance reports The New York Times says in a poll conducted in conjunction with CBS News that nine out of ten Americans still think of home ownership as an important part of the American Dream. As for improving the housing market, 45 percent say the government should be doing …
Americans Still Place High Value on Home Ownership Read More
PR Newswire says UMH Properties, Inc. (NYSE Amex: UMH) has added three manufactured home communities in Tennessee to its portfolio. The 693 home sites on 209 acres cost $13,300,000. UMH now owns 38 manufactured home communities comprising 8,744 home sites in Tennessee, New York, Pennsylvania, Ohio and New Jersey. This …
Reuters reports that Sun Communities, Inc., of Southfield, Michigan, whose portfolio includes 155 communities and 53,500 sites, acquired 17 manufactured home communities and one RV community from Kentland Corporation of Grand Rapids, MI for $142.3 million. The 18 communities are in western Michigan and include 5,042 manufactured home sites and …
Land Lease Community Ownership Conglomerates Again Read More
RealEstateRama says Thayer Long, CEO and president of the Manufactured Housing Institute (MHI), refuted charges by IBIS World Inc., that manufactured housing is a dying industry. While noting the pace of new manufactured homes sales has declined 57 percent in the last five years, the comparable statistic for new single-family …
Thayer Long Responds to IBIS World’s Dire Predictions Read More
The Minot Daily News reports from Minot, North Dakota, that hundreds of manufactured homes were not able to be moved before the raging Souris River overflowed the levees. Wayne Aga, who moves these homes for a living, says he transported 14 in the two days before the flood, and could …
Bloomberg reports shipment of manufactured housing in April fell to a seasonally-adjusted annual rate of 46,000 from 47,000 from March, according to the Census Bureau. The average sales price fell from $59,300 to $56,800 in April. The seasonally-adjusted dealer inventory remained steady at 22,000, while placements dropped from 43,000 to …
The Dow gained 72.73 points to close at 12,261.42 as bank stocks pulled the overall market up. The Manufactured Housing Composite fell .61 percent to end the day at 1122.90. Housing stocks closed mixed. ELS gained .64 percent, Cavco was up .63 percent and Sun Communities climbed .35 percent. Nobility …
