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.
Chicago Real Estate Daily reports that Sam Zell’s Equity LifeStyle Properties (ELS) is adding 31,167 home sites to its portfolio of 111,002 home sites by buying 76 land lease communities (LLC) from Hometown America LLC, its Chicago-based competition. The properties are spread over 20 states. ELS will finance the $1.4 […]
Equity LifeStyle Properties Acquires Chunk of Competitor Read More
The Dow gained 128.21 points on the day to close at 12,569.79, even though the month showed an overall loss of less than two percent since May 1. Housing stocks were also on the plus side. Palm Harbor Homes ended the day up 13.64 percent, Deer Valley climbed 11.11 percent,
Dow Ends Day Up, Month Down; Housing Stocks Close Up Read More
Zacks reports that SmarTrend says of the five top residential real estate investment trusts (REITs) with the highest free cash flow (FCF) per share, two are land lease community (LLC) owners. Equity Lifestyle Properties ranks in the top spot with free cash flow per share of 3.76x, and is also
Two LLCs Among Top REITs in Cash Flow Read More
Bloomberg says the S&P (Standard & Poor) Case/Shiller index of home prices fell in March 3.6 percent from March 2010, registering the biggest year-to-year decline since November 2009. Housing prices are the lowest since 2003 according to this survey of 20 U.S. cities. The first quarter of the year saw
Foreclosures Provide Slippery Slope for Home Prices Read More
The United Kingdom’s 24Dash reports that Powerwall has developed a three-bedroom energy efficient modular house for £57,000 (just under $95,000), excluding land and foundation, to help meet affordable housing needs in England. The house comes equipped with finished interiors, bathrooms and kitchens, and the estimated annual fuel cost is just
English Firm Develops Affordable Modular Housing Read More
SmallCap Network recommends three manufactured housing stocks as smart buys , because at some point the housing industry will pick up, and now is the time to “join the party.” It says Cavco Industries, Inc. (NASDAQ:CVCO), is a good buy for the short term, but not the long term. The
Three Manufactured Housing Stocks on the Buy List Read More
The Boston Globe reports the only community of factory-built homes in Boston sits on the Charles River and is owned by the residents. The 104 unit community just received word from Mayor Thomas Menino that the city will invest $815,000 to upgrade sewers, roads and electric power lines. The article
Boston’s Sole Community of Factory-built Homes Gets Good News Read More
The San Diego Union-Tribune reports that architect Michelle Kaufmann, termed “the Henry Ford of green homes” by the Sierra Club, says in order to attract people to energy efficient modular homes, we have to make it less expensive to live in than what people are paying now. She says we
Price Modular Green Housing Reasonably, says Architect Read More
Stocks finished the week with modest gains, with trading volume light ahead of the long holiday weekend. The Dow closed up .31 percent on light volume to end the week at 12,441.58, while housing stocks closed mixed. MSCI gained .52 percent, Sun communities was up .44 percent, and ELS posted
Stock Market Ends Light Before Long Holiday Weekend Read More
Yahoo! Finance reports the index that measures sales agreements for previously occupied homes fell 11.6 percent in April to 81.9, according to the National Association of Realtors (NAR). A count of 100 is considered healthy. The last time the index hit 100 was April 2010, the last month when people
Sale of Previously Occupied Homes Half that of 1963 Read More
Bloomberg reports that manufactured housing shipments for March rose at a seasonally adjusted rate to 47,000, up 3,000 over February, and the highest in six months. On a seasonally adjusted rate, placements dropped 5,000 units February to March, and dealer inventory remained stable at 22,000. The average sales price increased
Manufactured Housing Shipments Increased for March Read More
The Manufactured Housing Institute (MHI) says it and the National Communities Council (NCC) met with Housing and Urban Development (HUD) representatives to discuss a federal program to develop and rehabilitate manufactured housing communities. Federal Housing Administration’s (FHA) 207(m) is a mortgage insurance program for owners and developers to obtain financing.
Under-utilized MH Community Program to Be Revised Read More
WNEP 16 reports from east central Pennsylvania that a modular home builder near Selinsgrove moved into a facility vacated by a previous modular home builder last year in Snyder County. Durabuilt owner Kevin Hahn says they have already hired 20 additional workers since opening, increasing production by 40 percent. Despite
Business is Good for New Modular Builder Read More
NAHB (National Association of Home Builders) First Vice-chairman Barry Rutenberg says while the NAHB supports modernizing the nation’s housing finance system, it opposes several bills in the House and Senate that would end Fannie Mae and Freddie Mac without providing some type of government backstop. He says, “Maintaining a continuing
Home Builders Want Government Mortgage Backstop Read More
“Housing Built in Alabama for Alabama Citizens,” is what Sherry Norris, Executive Director of the Alabama Manufactured Housing Association says about an exciting project taking place right now. She sent word to MHMSM that two blocks of dilapidated housing were cleared in Montgomery, Alabama, to make way for a series
“Housing Built in Alabama for Alabama Citizens” Read More
The Dow moved slightly higher on positive technology sector news, gaining 8.1 points to close at 12,402.76, while housing stocks gained or remained flat. Palm Harbor Homes was up 4.76 percent, Cavco gained 1.13 percent, Skyline Corporation moved up 1.03 percent, Sun Communities was up .76 percent and ELS gained
Dow Edges Up Cautiously, Housing Stocks Mostly Up Read More
National Mortgage News reports the Federal Housing Administration (FHA) is cracking down on lenders it thinks have taken shortcuts, denying claims and even threatening lawsuits. Although much of the action results from the bubble years activity, it is giving pause to those seeking to make new FHA-backed loans. Foreclosure-related claims
FHA Getting Tougher on Claims? Read More
It was brought to our attention by a reader that in a story we reported May 20, we mistakenly identified Carlyle Group, headquartered in Hollywood, California, with The Carlyle Group, a private-equity firm headquartered in Washington, D.C. Carlyle Group, of California, is an asset management firm that manages 5,000 Land
Errata on Carlyle Group’s Eclectic Investment Mix Read More
Following up on a story we published May 5, the North County Times says the Oceanside, California City Council voted 3-2 to reaffirm two earlier votes ending rent control for the residents of the 18 Land Lease Communities in Oceanside. The ordinance would apply only to new occupants of the
MHC Residents Circulating Petition to Overturn Council Vote Read More
MHMSM has obtained the Notice of Dismissal in Case 10-45772 Doc 178 Filed 05/18/11 Sunset Village Limited Partnership. Sunset Village is a community owned by Capital First Realty, Inc. based in Chicago. The case was filed in the United States Bankruptcy Court, Northern District of Illinois, Eastern Division. Sources close
Case Dismissed – MHC business in the news Read More
