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.
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
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
Stocks Close With Modest Gains Wednesday Read More
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
New Bill Helps REIT Investors Read More
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
North Dakota to See New MH Community Read More
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
Gilt.com Offers $12K Prefab Home Read More
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
Social media is a place to socialize with friends and family, but it’s also a great place to let your friends know about your favorite products. To do that, users become a fan of product and service pages. We took a look Wednesday to see who was on Facebook from
Factory-Built Housing on Facebook Read More
The Manufactured Housing Composite Value moved down modestly Tuesday after two days of gains. Most manufactured housing and related stocks closed lower. The exceptions were Cavco and UMH Properties, which posted modest gains. Walker and Dunlop, a company that helps finance the purchase of manufactured housing communities, posted gains Wednesday,
Dow Gains, MH Stocks Decline Read More
Data through October 2010, released Tuesday by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show a deceleration in the annual growth rates in 18 of the 20 MSAs and the 10- and 20-City Composites in October compared to what was reported
New Lows for U.S. Home Prices Read More
MHMSM.com recently sent a letter to Des Moines Register Managing Editor Randy Brubaker regarding a December 26th article titled “The most dangerous housing in America.” The letter pointed out the article failed to correctly distinguish between “mobile” homes built before the implementation of the HUD Code in 1976, and modern,
MHMSM.com Responds to MH Article in the DesMoines Register Read More
The Federal Housing Finance Agency (FHFA) reported Tuesday that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 4.42 percent based on loans closed in November. This is a decrease of 0.07 percent from
Federal Housing Finance Agency Reports Mortgage Interest Rates Read More
The National Association of Home Builder (NAHB) reports sales of newly built, single-family homes increased 5.5 percent to a seasonally adjusted annual rate of 290,000 units in November. Based on Commerce Department figures, the gain represents a partial bounce-back from a near-record low, downwardly revised number of new-home sales in
Financing May Be the Roadblock to Recovery Read More
American Banking News reports that shares of Cavco hit a new 52-week high on Monday. The stock traded as high as $47.88 during mid-day trading and last traded at $47.88. The report also notes the stock has a 52-week low of $31.50 and a 52-week high of $47.89. Its 50-day
Cavco Hits New 52-Week High at $47.88 Read More
From the Wall Street Journal blog we find that Cormello LLC, the owner of a manufactured and mobile-home park in Michigan, filed for bankruptcy earlier this month. The report indicates documents filed in the Detroit bankruptcy court, the township of Ypsilanti, alleged that the Ypsilanti Mobile Village “constitutes a public
Michigan Community Owner Files for Bankruptcy Read More
Promoters recently announced the first ever comprehensive manufactured housing land lease community finance seminar featuring the FHA 207m Loan Guarantee program is coming to Louisville. It will be held at the Crowne Plaza Hotel, adjacent to the Kentucky Exposition Center Fairgrounds and concurrently with the nearby Midwest Manufactured Housing Show
FHA207m Loan Guarantee Program Seminar Coming to Louisville Read More
Despite 20 inches of snow in Central Park, the New York Stock Exchange kept normal hours today, allowing the Dow to shed 18 points at close. The Manufactured Housing Composite Value, however, rose more than two percent. Benefitting most were Nobility Homes, Cavco, up nearly three percent and Skyline Homes
Manufactured Home Stocks Record Gains Read More
