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.
Stocks roared into the New Year Monday as 98 points were added to the Dow. The index had been up more than 120 points earlier in the session. Manufactured housing and related stocks also performed well. UMH Properties and Drew Industries each added more than four percent, Sun Communities added …
MH Stocks Gain on First Day of Trading in New Year Read More
Bankrate.com reports the zero-down mortgage is still alive in the form of the USDA home loan. The property must be in a designated rural area; however, some eligible properties are in places that most people would not consider rural. USDA Spokesman Jay Fletcher explains to MHMSM.com the department has …
It might be called a moving tax. The Illinois Lincoln Courier reports a measure that took effect last week requires a factory-assembled home on private property and not part of a community to be assessed and taxed as real property. Previously, the homes had been taxed by counties at 15 …
New Illinois Law Hikes Tax on Some Manufactured Homes Read More
The Center for the Polyurethanes Industry (CPI) of the American Chemistry Council (ACC) recently announced the availability of a new online training program for spray polyurethane foam (SPF) applicators to further improve good safety practices. “This new training program is part of CPI’s ongoing efforts for continuous health and safety …
The Commerce Department says construction spending increased 0.4 percent in November, but building activity is only 2.3 percent higher than in August, when it had fallen to the lowest level in a decade. Total spending increased to $810.2 billion in November at a seasonally adjusted annual rate. The strength in …
Fannie Mae announced it has reached an agreement with Bank of America and its affiliates – BAC Home Loans Servicing, LP, and Countrywide Home Loans, Inc. – to address outstanding repurchase requests for residential mortgage loans with an unpaid principal balance of approximately $3.9 billion delivered to Fannie Mae by …
Fannie Mae Reaches Agreement with BOA to Address Repurchase Requests Read More
Sun Communities, Inc., a real estate investment trust (“REIT”) that owns and operates manufactured housing and recreational vehicle communities, announced recently its Board of Directors declared a quarterly dividend of $0.63 per share for the fourth quarter of 2010. The dividend is payable January 21, 2011 to shareholders of record …
Sun Communities Declares Fourth Quarter 2010 Dividend Read More
The Dow ended up seven points December 31 and some 11 percent for the year. The Manufactured Housing Composite Value ended the last day of the year on a sour note, however, down one and a quarter percent. The Index was down more than 17 percent for the year. Several …
Dow Adds 11 Percent in 2010, MH Values Drop Overall Read More
The profession of selling is changing and has been for a number of years. This change is being driven by advances in technology, changing consumer attitudes, increased competition, an aging population, increased consumer annoyance with repetitive sales tactics that offer nothing new, corporate ethics, a global market place, corporate mergers, …
From New York, Greene County News reports that Catskill Mountain Housing Development Corporation recently announced that they are collecting applications for the Greene County Trailer Replacement Program. The program replaces severely deteriorated mobile homes with new, energy-efficient manufactured homes. To be eligible, applicants must own the land on which the …
Steve Harney has some advice for homeowners sitting on the sidelines: sell. That, the real estate consultant says, is because prices may go down 5 percent to 8 percent as banks unload a glut of repossessed properties. Harvey told a crowd of real estate agents in Naperville, Illinois that the …
Correctional News reports that Oldcastle Precast Modular has been awarded the precast cell contract for the new Pennsylvania State Correctional Institution Graterford East and West project. The new $365 million prison is one of the largest correctional projects in progress in the United States. Oldcastle was awarded the contract to …
Modular Company Awarded Contract to Build PA Prison Read More
From New York, the Watertown Daily Times reports that an investor recently purchased a 53-acre property known as Patriot Mobile Home Park, expecting demand in 2012 when troops return from Afghanistan. Las Vegas-based Jeremiah L. Boucher purchased the community for $615,000 and currently holds about 60 two- and three-bedroom homes. …
The Massachusetts-based Atrium Custom Homes announces the company is allowing would-be-homeowners to custom make their modular homes to meet their exact needs. In a release, the company pointed out some of the problems associated with an existing home and emphasizes the ability for homeowners to custom plan their modular homes. …
Energy companies led stocks higher on Wednesday. Most manufactured housing and related stocks also closed modestly higher. All American Group, Equity Lifestyle Properties and Universal Forest Products all added more than one percent to share value. Sun Communities and Drew Industries closed lower. The Manufactured Housing Composite Value was up …
Housingwire.com reports a new bill awaiting President Obama’s signature would expand tax exemptions for stock in REITs. While some of the return in REITs is already tax-free, Housingwire says the new legislation would promote foreign money being put into REITs. The Real Estate Jobs and Investment Act of 2010 amends …
From Mississippi, the Lauren Leader-Call reports that several residents of Ellisville have received new modular homes with the help of the town’s HOME Investment Partnership grant. Ellisville was awarded $188,233 by HUD to reconstruct the homes. The article notes program funds are allocated to units of general local government on …
Home Grant Brings New Modulars to Mississippi Community Read More
From the Bismark Tribune we learn that the town of Killdeer, ND has signed a letter of intent to sell some commercial property it owns to Pinnacle Equity, of Bismark, to develop a court for 30 single-wide manufactured homes. The land will require a conditional use permit. The article indicates …
The online bargain fashion site known as Gilt.com is offering a $12,500 prefab home, accoding to an item in the New York Daily News. According to the report, the members-only discount site teamed up with Dwell and Turkel Design to offer the homes at a price reduced from $25,000. A …
The credit quality of first-lien mortgages serviced by large national banks and thrifts remained steady during the third quarter of 2010, but the pace of foreclosures increased, according to a report released Wednesday. The quarterly report by the Office of the Comptroller of the Currency (OCC) and the Office of …
Report Shows Mortgage Performance Steady, Foreclosures Jump Read More
