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.
Insurance Networking News reports that Moody’s has assigned an Aa2 rating to $1.5 billion of senior unsecured notes being issued by Berkshire Hathaway Finance Corp. Net proceeds are expected to be used to repay a like amount of BHFC notes maturing in January 2011. Moody’s says the rating outlook for […]
Moody’s Rates Berkshire Notes Read More
UMH Properties, Inc., announced this week that it will be presenting at Sidoti & Company’s 2011 Semi-Annual Micro-Cap Conference on Monday, January 10, 2011. The Forum will be held at The Grand Hyatt in New York City. Eugene W. Landy, Chairman of the Board, and Michael P. Landy, Vice President
UMH to Present at Sidoti & Company’s Micro-Cap Conference Read More
Iowa Manufactured Housing Association Executive Vice President Joe Kelly says the city of Des Moines is concerned about how older factory-built homes are sold on contract. The City Attorney, Bruce Bergman, expressed to Kelly that Des Moines is considering requiring all community owners, if they are selling a home in
Des Moines Considering Regulatory Changes in MH Titling and Inspection Read More
The Associated Press reports New Orleans officials have told the last remaining residents of the temporary housing units known as “FEMA trailers” to be out by the start of 2011. Residents told the reporter that meeting this deadline will be difficult. At one point, some 23,000 homes were in the
New Orleans Looks to Turn Page Past Katrina and “Trailers” Read More
The new appointees announced by HUD on January 3, 2011 to the Manufactured Housing Consensus Committee as reported by the Manufactured Housing Association for Regulatory Reform are: (1) William Freeborne, described by HUD only as a “retired engineer,” who will be joining the “General Interest and Public Officials” group, becoming
New MHCC Members Appointed Read More
The Manufactured Housing Association for Regulatory Reform (MHARR) sent out a message to manufacturers indicating its view that the already diminished role and authority of the Manufactured Housing Consensus Committee (MHCC) as an independent check and balance on the power of HUD regulators took another major step backward on January
MHARR Says Committee Selection Process Sets MHCC Back Read More
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
Zero-down Mortgages Endure in Rural Areas Read More
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
CPI Launches Spray Foam Training Program Read More
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
Construction Spending, Manufacturing on the Rise Read More
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,
Is 2011 going to be a repeat of 2010? Read More
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
Applications Being Accepted for Home Replacement Read More
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
Real Estate Consultant Says Sell Read More
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.
Investor Expects MH Demand from Returning Troops Read More
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.
Modular Builder Emphasizes Customization Read More
