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Modular Homes in the News 100908

September 8th, 2010 Comments off

MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla.

We begin with these stories:

INVESTORS BUSINESS DAILY reports that a practice being referred to as “flopping” is the latest real estate scam. A play on the practice of “flipping,” or cosmetically upgrading a home and selling at a profit, flopping scams prey on underwater homeowners and their lenders and have attracted the attention of the FBI and Freddie Mac. According to the report, a flopper may use a faulty appraisal or broker price opinion to try to buy a home at below market price, in a short sale negotiated with the lender. The scammer will already have secretly found a subsequent buyer for the home, who’ll pay a higher price.

IN AN EFFORT TO HELP responsible homeowners who owe more on their mortgage than the value of their property, the U.S. Department of Housing and Urban Development Tuesday began providing an additional refinancing option for underwater borrowers. Originally announced in March, this enhancement of Federal Housing Administration refinance program will offer certain ‘underwater’ non-FHA borrowers who are current on their existing mortgage and whose lien holders agree to write off at least ten percent of the unpaid principal balance of the first mortgage, the opportunity to qualify for a new FHA-insured mortgage. The FHA Short Refinance option is targeted to help people who owe more on their mortgage than their home is worth. Participation in FHA’s short refinance program is voluntary and requires the consent of all lien holders.

Manufactured Housing in the news…

FROM THE HIGH POINT ENTERPRISE in Winston-Salem, North Carolina, we find that sellers of manufactured and modular homes are reporting year-to-year sales have seen double-digit increases. It was noted that year-over-year sales for Clayton Homes were up 22 percent. Clayton franchise owner Joe Berry told the paper his customer traffic has slowly increased since the housing market took a dive. Billy Peeples, another retailer, told the paper his sales were up 28 percent and that customers are downsizing to more manageable manufactured homes from 2,000-3,000 square foot homes. While homes start at $25,000 and range up to $200,000, the most popular models are in the $120,000 range.

“More Manufactured Housing in the News

But first, this podcast of News at Noon is sponsored in part by:

CommunityDASHinvestor.com. TAP into Excellence, your ONE-STOP Resource for the Manufactured Housing Industry, the Leader in Land Lease Communities information!

Tap into Excellence – visit on the Web at CommunityDASHinvestor.com or call 317-346-7156.

Now, back to our stories.

FROM MCKINNEY, TEXAS, the Encore Wire Corporation announced that the Company’s Chief Financial Officer, Mr. Frank J. Bilban, will be presenting at Morgan Keegan’s Industrial/Transportation Investor Conference in Chicago on Tuesday, September 14.

The Morgan Keegan conferences draw hundreds of institutional investors from across the country. Encore Wire Corporation manufactures a broad range of copper electrical wire for interior wiring in homes, apartments, manufactured housing and commercial and industrial buildings.

TEXAS’ LEADING independent manufactured home producer, Legacy Housing, is slating this September 12-15 for its 5th annual factory show. Located in north Fort Worth, Texas, this show will feature factory tours, a discussion of available finance programs, sign-ups for Retail Finance, and will feature benefit demonstrations of over a dozen of Legacy’s best-selling home models, setup, decorated, and ready for walk-throughs.

Modular Homes in the News…

PENN LYON EMPLOYEES out of work at the modular home builder now have the assistance of a state job assistance agency. The Daily Item reports that PA CareerLink is designed to help those who are suddenly without a job in an already difficult economy. It is connected to a statewide database that allows employers across Pennsylvania to search for potential employees. The center gave a presentation last week to former employees of modular home builder Penn Lyon Homes. About 82 of Penn Lyon’s 92 employees have been furloughed. The good news? The center reports an increased number of job postings over last year, but says the employment picture remains difficult.

In Market News…

FROM PAYSON, ARIZONA, the Payson Roundup reports signs of life for the housing industry. In July, builders took out permits to build four houses in Payson, plus two commercial projects. According to the report, in fiscal 2009, the town issued permits for 28 single-family homes, 18 manufactured homes, 66 apartment or condo units and three commercial projects. In fiscal 2010, the town issued permits for 28 single-family homes, seven manufactured homes and two commercial projects. Preliminary figures for August show several more permits for new homes and several commercial projects. Payson Mayor Kenny Evans notes also that 17 commercial developers have projects in the pipeline.

MARKETS CLOSED LOWER by more than 100 points on Tuesday on concerns about a European debt crisis with staying power. Manufactured home stocks on our watch list were also lower across the board. The manufactured housing composite value was off by more than two percent.

On behalf of Production and IT Manager Bob Stovall, Editor L.A. Tony Kovach, Associate Editor Catherine Frenzel, INdustry in Focus reporter Eric Miller, and the entire MHMSM.com writing and support team, this is Erin Patla. Gday!

Listen to Podcast Here

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com
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State Association News 100907

September 7th, 2010 Comments off

MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla.

We begin with these stories:

SMALL BUSINESSES are the “primary drivers of job creation,” and aid in the form of legislation should be the first order of business for Congress when it reconvenes next month, according to President Obama. The president again touted the legislation Friday and accused Republicans of blocking the $55 billion small business package. The president also noted that the legislation will not add to the deficit.

FROM RIVERSIDE, CALIFORNIA, the Press-Enterprise reports small businesses still do not feel safe hiring people. Researchers at Citibank found only 22 percent of small businesses say they plan to hire new people in the next 12 months. Bob Henry, retired Fleetwood Enterprises executive and a counselor with the Inland Southern California chapter of the counseling service Senior Corps of Retired Executives (or SCORE), told the paper most business owners these days are happy to keep their heads above water. “Most are in a break-even position at best, and they prefer to work harder themselves than hire more people,” Henry says.

EXPERTS WORRY that upfront costs may keep some Floridians from taking advantage of a high-efficiency rebate program in that state. According to a report in hometownnewsol.com, the rebate program requires homeowners to have their ducts tested – something that can cost $350 to $700. The program may not be suitable for homeowners with hard-to-access ductwork, but would apply to most condominiums, mobile homes and manufactured homes. More information is available at rebates.com/floridahvac.

HOMEBUILDERS IN PENNSYLVANIA have lost an appeal to Commonwealth Court of their challenge of state building codes requiring sprinkler systems beginning next year. Builders in the Reading [RED-ing] Eagle say the new code could add $5,000 to $12,000 to the cost of a home.  Sprinklers will not be required in manufactured homes, however. The Pennsylvania Department of Labor and Industry, which regulates the uniform construction code, has come to the conclusion that manufactured homes are exempt from sprinkler requirements. Pennsylvania Manufactured Housing Association executive vice president Mary Gaiski explains, however, that the basements of manufactured homes set on foundations will be required to have sprinkler systems. Look for a full report on MHMSM.com this week on sprinklers requirements around the country.

“Up next, State Association News…

But first, this podcast of News at Noon is sponsored in part by:

Precision Capital Funding, on the Web at CaptiveFinance.net. Precision Capital Funding earned the MHI 2010 Service Supplier of the Year Award.

For more information, email Kenneth Rishel at kennethrishel@captivefinance.net or call 217-971-3968.

Now, back to our stories.

In State Association News…

KEN ROSS of Sherwood AR, regional sales manager for Triad Financial Services of Jacksonville, Florida ,was recently recognized for outstanding service and lasting dedication to the state’s factory-built housing industry with induction into the Arkansas Manufactured Housing Association’s (AMHA’s) “Hall of Fame.” Mr. Ross was surprised with the honor during the Association’s 39th Annual Meeting and Convention, held August 19 at The Peabody Hotel in Little Rock, AR. Ross has served in numerous leadership positions with AMHA – as a member of the Association’s Board of Directors and Chairman of the organization in 1982.

ALSO FROM ARKANSAS, in recognition of thirty years of continuous membership in the Arkansas Manufactured Housing Association, Sunshine Homes, Inc. of Red Bay, Alabama, recently received the organization’s “Thirty Year Membership Award.”  The honor was announced during the Association’s 39th Annual Convention at the Peabody Hotel in Little Rock, Arkansas. In addition, in recognition of twenty years of continuous membership, Southern Homes of Double Springs, Alabama received the organization’s “Twenty Year Membership Award,” and Clayton Homes received a the “Ten Year Membership Award.”

In Market News…

MOST MANUFACTURED HOUSING STOCKS advanced Friday. Deer Valley was up ten percent to close at 44 cents a share, Drew Industries was up nearly four percent to close at 20.93 per share, UMH Properties did just as well, closing at $9.94 a share. Sun Communities and All American Group were down for the day. The manufactured housing composite value was up more than two percent. The Dow moved up 127 points to close at 10,447.

On behalf of Production and IT Manager Bob Stovall, Editor L.A. Tony Kovach, Associate Editor Catherine Frenzel, INdustry in Focus reporter Eric Miller, and the entire MHMSM.com writing and support team, this is Erin Patla. Gday!

Listen to Podcast Here

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com
Categories: news-at-noon Tags:


Manufactured Housing in the News 100903

September 3rd, 2010 Comments off

MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla.

We begin with these stories:

SEPTEMBER IS THE FINAL MONTH for the SBA’s Floorplan Financing Program unless Congress acts to renew it. In order to extend the program, a bill currently under consideration, the Dealer Floor Plan Program Extension and Improvement Act of 2010, must be passed. Introduced in the House of Representatives by Joe Donnelly (D-IN) and Fred Upton (R-MI), the act would extend the program for five years and address some retailer concerns. An INdustry in Focus report entitled Floor Plan Program is available at mhmsm.com, including links for contacting your congressmen and women and U.S Senators by September 30.

FOLLOWING A SHARP DROP in the months immediately after expiration of the home buyer tax credit, pending home sales have risen modestly, according to the National Association of Realtors (NAR). The Pending Home Sales Index rose 5.2 percent to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June, but remains 19.1 percent below July 2009 when it was 98.1. The data reflects contracts and not closings, which normally occur with a lag time of one or two months. NAR Chief Economist Lawrence Yun [the u sounds like the oo in foot] says, “Affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates, helped partly by the Fed’s very accommodative monetary policy. The loan underwriting standards are tighter, but home buyers can improve their chances of getting a loan by staying well within their budget.”

U.S. HOUSING AND URBAN DEVELOPMENT (HUD) Secretary Shaun Donovan announced Wednesday an agreement with the nation’s top mortgage lenders to offer selected state and local governments, and nonprofit organizations, a “first look” or right of first refusal to purchase foreclosed homes before making these properties available to private investors. In collaboration with national servicers Fannie Mae, and Freddie Mac, the First Look program is intended to give communities participating in HUD’s Neighborhood Stabilization Program a brief exclusive opportunity to purchase bank-owned properties in certain neighborhoods so these homes can either be rehabilitated, rented, resold or demolished. “This groundbreaking agreement will help rebuild neighborhoods that have been struggling with blight and declining home values due to foreclosures,” says Donovan.

ALSO FROM HUD – approximately $110 million in grants will be made available to help eliminate dangerous lead-based paint from lower income homes and to protect young children from lead poisoning.  The grants to States and local governments are being offered through HUD’s Lead-Based Paint Hazard Control and Lead Hazard Reduction Demonstration Programs.

“Up next, Manufactured Housing in the News”

But first, this podcast of News at Noon is sponsored in part by:

LifeStylist.com – Lifestyle Driven Designs by Lifestylist® Suzanne Felber. Furniture, Decors and Model Homes designed for your budgets and your customers’ lifestyles.

Email them at answers@lifestylist.com, visit them on the Web at LifeStylist.com or call 214-941-8341.

Now, back to our stories.

Manufactured Housing in the News…

FROM SANTA MARIA we find the new manufactured home community that almost was. The Times reports that a proposal for almost 300 single-family homes is moving forward to the City Council with a favorable recommendation from the city Planning Commission. The property was originally planned as a 375-unit manufactured home community. Those plans were shelved and in their place is a new plan that is expected to include 296 single-family homes, a 2.3-acre community park and trails for walking and biking.

FROM ELOY, ARIZONA the Dispatch reports that residents of Buckeye Mobile Home Park are angry after being told the park will close at the end of the month. Moreover, a city ordinance prohibits homes more than three years old from being relocated inside its borders, leaving the only alternative of trying to sell or moving it outside the city. According to the report, residents received a three-sentence letter that read: “The Buckeye Trailer Park is closing September 30, 2010. You need to arrange for other housing now. Thank you all for your time spent here.” Dave Meunier at the Arizona Office of Manufactured Housing was quoted in the article as saying some residents may qualify for funds that could help with the relocation costs.

Modular Housing in the News…

FROM PENNSYLVANIA comes a follow-up report in the Daily Item regarding modular builder Penn Lyon Homes. The company is not going out of business as previously reported, but a lack of production orders is forcing a layoff of 90 percent of its work force. Company founder Roger Lyons told the paper the company will keep a few office workers to handle phone calls and service orders. Pennsylvania Manufactured Housing Association Executive Vice President Mary Gaiski was quoted in the report as saying there are about 40 such companies in Pennsylvania, and all have had to downsize in some way in the past year.

In Market News…

THURSDAY Freddie Mac released the results of its Primary Mortgage Market Survey, and for yet another week, fixed-rate mortgages reached record lows, as did the 5-year adjustable rate in this survey. The 30-year fixed-rate mortgage averaged 4.32 percent with an average 0.7 point for the week ending September 2, 2010, down from last week when it averaged 4.36 percent. Last year at this time, the 30-year FRM averaged 5.08 percent. Amy Crews Cutts, deputy chief economist at Freddie Mac, added that house prices appear to be firming. Home prices rose 2.3 percent between the first and second quarter of this year, reaching the highest level since the fourth quarter of 2008, according to the S&P/Case Shiller National Home Price Index.

THE DOW ENDED UP 50 points on Thursday to close at 10,320. Down more than two percent, Palm Harbor Homes was the only declining stock on our watch list today. The big mover by percentages was penny stock All American Group, up more than 35 percent to close at 23 cents per share. Up more than two percent were Barnes Group, Skyline Corp and UMH Properties. The manufactured housing composite value was up just over one percent.

On behalf of Production and IT Manager Bob Stovall, Editor L.A. Tony Kovach, Associate Editor Catherine Frenzel, INdustry in Focus reporter Eric Miller, and the entire MHMSM.com writing and support team, this is Erin Patla. Gday!

Listen to Podcast Here


To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com
Categories: news-at-noon Tags:


Manufactured Housing in the News continues 100902

September 2nd, 2010 Comments off

MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla.

We begin with these stories:

THERE IS NO SIGNIFICANT DIFFERENCE between the rates of crime in manufactured home communities relative to other residential areas, so concluded William P. McCarty, assistant professor in the Department of Criminology, Law and Justice at the University of Illinois-Chicago. His recent study took a look at crime in mobile and manufactured home communities and concluded the evidence in the study suggests that local regulators should seek to make sure that the permitting system is disposed towards allowing greater placement of manufactured home communities. In an exclusive interview with MHMSM.com, McCarty expands on his research and delves deeper into the reality of safety in manufactured home communities.

THE AMERICAN DREAM STUDY by Trulia.com recently found that of those renters who do plan to purchase someday, 68 percent said it would be more than two years before they do. However, almost half of the respondents said they would be ready to purchase sooner than later, if they could only come up with the cash for a down payment, and 30 percent could be convinced by a new job. The survey also asked for current views on the housing market over the last six months and found that while 19 percent were more negative, 23 percent were more positive.

Manufactured Homes in the News…

FROM NEW MEXICO, we find that a manufactured home movement ordinance outlining the process required when moving a manufactured home in Socorro County as well as the penalties for parties that do not comply, has been approved. Officials explain that the new ordinance is essentially a method of getting manufactured homes on the county’s tax roll.  It requires a certificate to move a manufactured home. The only exception is dealers moving a newly purchased home to its new location. The ordinance will go into effect on September 25.

FROM CARNESVILLE, GEORGIA – complying with Senate Bill 384, Franklin County has instituted a new policy on manufactured homes. Earlier this week, Franklin County Commissioners approved amending the current ordinance to remove the section that barred manufactured homes more than 10 years old from being relocated in Franklin County. In the article, Franklin County Attorney Bubba Samuels explained that older homes will have to comply with health and safety standards. “What this ordinance does is require that someone who wants to bring in an older home get a provisional permit that’s good for 90 days,” Samuels was quoted as saying. “During that time, they can bring in the mobile home, but they would then have to obtain an inspection report from a certified inspector.”

“More Manufactured Housing in the News continues…”

But first, this podcast of News at Noon is sponsored in part by:

MHMSM.com/solutions.

Do you have vacant homes or sites? Does your financing, market, sales or management need a boost? From high Return on Investment online marketing, to public relations, sales, lead and management systems and more, make us your Solutions Resource. When you are ready for the answers to your needs, visit MHMSM.com/solutions.

Now, back to our stories.

MELVIN L. BOBO, who recently announced his candidacy for City Council in Johnsonville, South Carolina, touched on the topic of manufactured housing this week in an interview with The Weekly Observer.  The reporter touched on a current issue being debated in the council that would put a moratorium on any manufactured housing coming into the community, and just recently they discussed considering rezoning all R-3 lots to R-3A lots, which would prohibit any manufactured housing being placed on those lots.  Bobo responded that, “People work hard and it’s their money… and it’s their property. They have the right to build, as long as it’s not offending or hurting anybody, they should have the right to build in place, whatever they wish to place on that property.” We could add that placement restrictions are likely prohibited by preemptive language in the HUD code. Look for updates at mhmsm.com.

FROM OXFORD HILLS, MAINE, we find that a company called Burlington Homes shut down in 2008 shortly before Maine Housing advertised for bids to build manufactured homes that some say may have saved the 70 jobs. As it stands, more than half of the housing units for a $3 million federally subsidized Maine Housing program intended to replace pre-1976 mobile homes will probably be built out of state. The proposal requirements specified bids had to come from manufacturers; however, there are no HUD certified manufactured home builders in Maine.

Modular Homes in the News…

EARTHTECHLING [Earth-tech-ling] continues its coverage of green modular home designs from Blu Homes with the release of the first home in their mkDesigns line, the Glidehouse. Previously offered only within limited markets on the West Coast, the prefabricated home is now available nationwide. In addition to Paperstone counter tops, water-saving plumbing fixtures, on-demand water heaters, and a mechanical ventilation system, the home is billed as “solar ready” and can be built with geothermal, wind generator or hybrid energy systems, as well as radiant hot water flooring for colder climates. The cost for two or three bedrooms and two baths is $360,000.

In Market News…

DIRK VAN DIJK [dee-ICK], CFA, Chief Equity Strategist for Zacks.com reported Wednesday that total construction spending fell in July to a seasonally adjusted annual rate of $805.2 billion, down one percent from June, and down 11.7 percent from a year ago. The decline was greater than the 0.7 percent decline that was expected. Year to date, construction spending has totaled $460.3 billion, down 11.8 percent from the $522.0 billion spent on construction in the first seven months of 2009.

MARKETS SOARED into the final month of the third quarter Wednesday. The major rally sent the Dow up more than 250 points after a surprising report showing increased manufacturing activity. With the exceptions of UMH Properties and All American Group, stocks on our watch list closed higher Wednesday. Skyline Corp closed more than six percent higher and Drew Industries closed more than five percent higher. The manufactured housing composite value was up more than three percent. For comparison, home furnishings were up more than four percent, general building materials were up 3.26 percent, residential construction was up 3.68 percent and lumber and wood production was up almost four and a half percent.

On behalf of Production and IT Manager Bob Stovall, Editor L.A. Tony Kovach, Associate Editor Catherine Frenzel, INdustry in Focus reporter Eric Miller, and the entire MHMSM.com writing and support team, this is Erin Patla. Gday!

Listen to Podcast Here

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com
Categories: news-at-noon Tags:


Manufactured Housing News at noon 100901

September 1st, 2010 Comments off

MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla.

We begin with these stories:

HURRICANE EARL is heading north and threatening communities from North Carolina to Maryland. Manufactured home owners can be reassured, however, that their homes can withstand the event as well as site-built homes, if not better. For more detailed information, see the InFocus Report As seasonal Hurricane risks rise, Studies prove Modern Manufactured Homes are a safer bet at MHMSM.com.

HOME PRICES ARE UP. According to the S&P/Case-Shiller Home Price Indices data through June, the U.S. National Home Price Index rose 4.4 percent in the second quarter after having fallen 2.8 percent in the first quarter. Nationally, home prices are 3.6 percent above their year-earlier levels. In June, 17 of the 20 MSAs covered by the indices and both monthly composites were up; and the two composites and 15 MSAs showed year-over-year gains. “Some of the disappointment in home sales is the natural result of the end of the tax credit,” Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York, told Bloomberg News before the release of the report. “Whether the softer trend in home sales results in lower house prices is the critical question for the outlook, as that would impact consumer wealth and financial market stability.”

In Manufactured Housing News

FROM IDAHO, The Spokesman-Review reports that a traffic and delay restriction on Highway 12 may impede the transportation of manufactured homes. According to the paper, Idaho’s transportation chief said Monday that a court decision revoking permits for giant truck shipments on scenic U.S. Highway 12 from Moscow to Lewiston could “end up restricting commerce and limiting business opportunities.” The Idaho Department of Transportation (IDT) and ConocoPhillips, which wants to move 350-ton coker drums over the roadway, is appealing the decision. IDT Director Brian Ness told the paper there are many communities in Idaho where a manufactured home could not be located, because it is not possible to get it there without delaying traffic for more than 10 minutes. The department is committed to doing the right thing for highway users by ensuring minimal delays. The route, once explored by Lewis and Clark, runs along the Clearwater and Lochsa rivers and is dotted with campgrounds, hiking trails, historic sites and popular whitewater rafting stretches.

FROM SAN DIEGO, the Union Tribune reports that according to city planning officials, Cavalier Mobile Estates intended to circumvent the city’s rent-control ordinance. As such, on a 3-to-2 margin, the City Council rejected the property owners’ request to subdivide the property. Currently, the manufactured home park rents spaces to tenants, and the rents can be raised only to reflect an increase in the consumer price index.

“More Manufactured Housing News continues…

But first, this podcast of News at Noon is sponsored in part by:

CommunityDASHinvestor.com.  Tap into Excellence, your ONE-STOP Resource for the Manufactured Housing Industry, the Leader in Land Lease Communities information!

Tap into Excellence – visit on the Web at CommunityDASHinvestor.com or call 317-346-7156.

Now, back to our stories.

ACCORDING TO THE ASSOCIATED PRESS, persistent water quality and septic problems have forced residents of a central Nebraska manufactured home park to vacate. The Nebraska Department of Environmental Quality previously gave the owners of Grand Island’s Mobile Manor three months to either find a solution or close down. The power to the park has been shut off as more than 20 families were forced out by the unresolved problems.

A LETTER TO THE EDITOR in the Arizona Republic was aimed at the decision by the city of Santa Monica, California, not to purchase homes from Arizona-based Cavco because of a boycott over the recent immigration law. “Congratulations to the Santa Monica, Calif., City Council for not accepting Phoenix-based Cavco’s lowest bid for manufactured homes, despite staff recommendations,” Scottsdale resident Bill Adler wrote. “In these times of great wealth and plenty, spending up to an extra $400,000 of taxpayers’ money reinforces the notion that, down to city councils, most politicians are not only ill-informed on the problems of the day, i.e. immigration, but totally out of touch with those who advise them and those they represent. Perhaps that is one reason so many Southern California businesses are leaving and heading just across the state line to the east.”

ACCORDING TO THE ABILENE REPORTER, Clayton Homes announced last week in 60 days it will close its modular home manufacturing facility in Breckenridge, Texas, which operated under the name Karsten Homes. According to the report, about 130 workers will be affected, but most will be offered a chance to transfer to another plant. The article indicated production will be consolidated into Waco, Texas and Albuquerque, New Mexico locations. Clayton Homes purchased Karsten Homes in 2005.

GE APPLIANCES & LIGHTING has announced that it has signed a four-year contract to become the exclusive appliance supplier for Clayton Homes, the largest manufactured homebuilder and modular housing builder in the United States. GE is the number one supplier of major appliances to U.S. homebuilders.

In Financial News…

THE SAN ANTONIO BUSINESS JOURNAL reports that the San Antonio Federal Credit Union has acquired Mountainside Financial—the largest broker for manufactured home lending in the United States. As such, Mountainside has been added to SACU’s CU Factory Built Lending Division which provides loans to homeowners in communities who wish to build on private land. The company also supports retailers and brokers with new and used home purchases, refinancing and other loan products for the manufactured home owner. Financial information was not disclosed for the deal.

FUTURES WERE DOWN when the Dow began the day. It recovered, lost and recovered again, however, and ended five points in the green. Many manufactured home-related stocks ended up as well. All American Group was up more than 20 percent to close at 30 cents a share, Palm Harbor Homes was up nearly two percent to $1.62 share and Sun Communities was up almost one percent to close at $28.58 a share. The Manufactured Housing Composite Value was up modestly for the day.

On behalf of Production and IT Manager Bob Stovall, Editor L.A. Tony Kovach, Associate Editor Catherine Frenzel, INdustry in Focus reporter Eric Miller, and the entire MHMSM.com writing and support team, this is Erin Patla. Gday!

Listen to Podcast Here

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com
Categories: news-at-noon Tags:


Manufactured Housing in the News at noon 100831

August 31st, 2010 Comments off

MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla.

We begin with these stories:

PRESIDENT OBAMA Monday urged Congress to “rise above the politics of the moment” and pass the jobs bill that is currently stalled in the Senate as soon as members return from their recess in September. According to the president, the Small Business Jobs and Credit Act, which features tax cuts and incentives for small business, would help small businesses get loans and would encourage investment spending by eliminating capital gains taxes on certain kinds of investments.

ANOTHER HOMEBUYER TAX CREDIT is not out of the question, HUD Secretary Shaun Donovan told CNN over the weekend. “We’re going to be focused like a laser on where the housing market is moving going forward, and we are going to go everywhere we can to make sure this market stabilizes and recovers,” Donovan said. Several Congressional candidates in Florida have entertained the possibility with Florida Gov. Charlie Crist, saying he would absolutely encourage the president to support it. Donovan was also asked by CNN host Ed Henry about several recent articles questioning whether homeownership is still a good way to build wealth. Donovan responded that while homeownership is important, “we need to have a more balanced housing policy in the country. For too long, our focus at the federal level was only on homeownership to the exclusion of rental.” Donovan also told the network the administration is preparing to roll out two new measures – an FHA refinancing program targeted at underwater borrowers, and an emergency loan program aimed at helping unemployed borrowers keep their homes.

FROM CALIFORNIA, the Riverside Press-Enterprise reported that 2,000 people lined up Saturday at MVP RV, a former Fleetwood factory that used to be one of Inland Southern California’s manufacturing hubs, hoping for a job. The company was looking to hire 80 people. The previously-estimated threshold of 1,500 people was achieved by 11 a.m. One person looking for work was Robby Crean, the grandson of John Crean, the legendary founder of Fleetwood who died in 2007.

FREDDIE MAC named Subha V. Barry to head its newly formed office of diversity and inclusion. Barry will work with the company’s business units to ensure they’re maximizing opportunities in diverse markets. She will also ensure the company is utilizing diverse talent among its employees and suppliers, and developing strategies focused on the needs of a diverse work force.

“Up next, Manufactured Housing in the News…

But first, this podcast of News at Noon is sponsored in part by:

Precision Capital Funding, on the Web at CaptiveFinance.net. Precision Capital Funding earned the MHI 2010 Service Supplier of the Year Award.

For more information, email Kenneth Rishel at kennethrishel@captivefinance.net or call 217-971-3968.

Now, back to our stories.

In Manufactured Housing News…

STEVE LEARY in Four Corners, Florida, is removing homes in Vista del Lago, the subdivision he started more than 20 years ago, and replacing them with new manufactured homes. TheLedger.com in Lakeland, Florida, recently ran the story.  First built in 1985, Vista del Lago is a manufactured home community with about 925 homes. The property was built out more than a decade ago. Leary told the paper he has watched as nearby mobile home parks have been purchased and replaced by high-end condominiums, luxury homes. That may be fine at the top of the market, but now they’re struggling to make sales. Meanwhile Vista del Lago has not been as negatively impacted by the drop in home prices or the fallout in the housing market. “We’re a manufactured home community, which used to be called a trailer park,” Leary told the Ledger. “In this economy, we’re more affordable.”

ACCORDING TO CITY PULSE, Lansing, Michigan is finding itself unable to enforce building codes in manufactured rental homes. A report by the Public Safety Committee concludes the city is unable to perform certain building code inspections on mobile-home rental property required by state legislation passed in January. Manager of Building Safety Code and Compliance, Chris Segerlind told the paper city inspectors are not trained to inspect to the standards required in the state Mobile Home Act and could not cite for non-compliance. A second is that it would cost extra to hire part-time specialized inspectors or for potentially out-of-state training for current inspectors. Until last January, the Michigan Manufactured Housing Commission and the former Department of Environmental Quality were responsible for the safety inspections.

FROM OREGON the Newberg Graphic reports that manufactured homes in that city are a leading source of affordable housing, but zoning rules may hamper their spread. The Affordable Housing legislative subcommittee took up the discussion Thursday, with a proposal to lower the minimum size for a manufactured home community from five acres to one acre. The committee is also mulling a new residential zone, specifically for manufactured home communities Most of Newberg’s are now zoned medium-density residential (R-2), Brierley said, and legislation would create a new “R-4” zone that prospective developers could choose to opt into. The new zoning designation would not be applied retroactively by the city.

[Arizona Central] AZCENTRAL.COM reports that even though a judge suspended most of the Arizona immigration law pending appeals, Cavco will not be the recipient of a Santa Monica, California, contract worth $3 million. The Santa Monica City Council has officially canceled a $3 million contract with a Phoenix-based maker of manufactured homes to the law, even though it will likely cost the city more money. The homes were needed to replace homes in the city-owned Mountain View Mobile Home Park. Department officials estimated it would cost $250,000 to $450,000 more to buy the homes elsewhere.

In Market News…

STOCKS MOVED SHARPLY LOWER again on Wall Street Monday. The Dow closed down more than 140 points, landing on the upper edge of the 10,000 mark. Manufactured home related stocks on our watch list were universally lower. All American Group and Skyline were both down more than seven percent. Drew Industries was down more than six percent. Palm Harbor Homes and Cavco were also down. The manufactured housing composite value was down nearly four percent.

On behalf of Production and IT Manager Bob Stovall, Editor L.A. Tony Kovach, Associate Editor Catherine Frenzel, INdustry in Focus reporter Eric Miller, and the entire MHMSM.com writing and support team, this is Erin Patla. Gday!

Listen to Podcast Here

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com
Categories: news-at-noon Tags:


Manufactured Housing in the News at noon 100830

August 30th, 2010 Comments off

MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla.

DID YOU KNOW that MHMSM’s News at Noon is available on iTunes? To access, simply start iTunes, type MHMSM into the search box and the Podcast list will appear.

Now we begin with these stories:

MHI REPORTS that USDA Housing Administrator Tammye Trevino announced on August 23, that implementation of the new funding fees for the Section 502 Single Family Loan Guarantee Program is expected by mid-September. Legislation was recently signed into law giving USDA the authority to increase the up-front fee to up to 3.5 percent of the principal obligation and to charge a new annual fee of up to .5 percent of the outstanding principal balance. USDA’s office of Rural Development expects to complete an interim enhancement to its electronic systems by mid-September to accommodate the increase. When this interim enhancement is complete, Rural Development will process all Conditional Commitments issued after May 26, 2010, that had the proviso “subject to the availability of funds.” These Conditional Commitments will be processed in the date order by which they were received. As soon as the program is implemented, Rural Development will resume issuing standard commitments without the special “subject to” condition.

Manufactured Housing in the News…

THE BIRMINGHAM BUSINESS JOURNAL is the latest to run a story on the increase in manufactured home sales, particularly with an increase in purchases of Clayton Homes. According to the paper, sales of its manufactured and modular homes around the Birmingham area are up more than 35 percent over last year. Corporate wide, sales are 22 percent better than the first half of 2009.

A GENESEO NEIGHBORHOOD in Illinois has recovered from a surprise flash flood earlier this year and came together this weekend to celebrating recovery, according to WQAD.com. Mud and water from a nearby creek covered homes in the Maple City trailer park back in May. Community donations have helped the recovery and Sunday residents celebrated with a cookout.

WCAX.COM REPORTS that thirty-four families at the Shircliff Mobile Home Park in Schuyler Falls, New York will have to find new homes because of ongoing sewage problems. Health officials say the septic system for the park needs to be completely replaced because raw sewage often ends up exposed on the ground after storms.

“Up next, Modular Housing in the News”

But first, this podcast of News at Noon is sponsored in part by:

LifeStylist.com – Lifestyle Driven Designs by Lifestylist® Suzanne Felber. Furniture, Decors and Model Homes designed for your budgets and your customers’ lifestyles.

Email them at answers@lifestylist.com, visit them on the Web at LifeStylist.com or call 214-941-8341.

Now, back to our stories.

Modular Housing in the News…

IN A STORY that News at Noon has been following since first reporting construction on July 21 for imminent delivery, the Gulfport Sun Herald reports that the first hurricane-resistant modular homes have recently been installed in the Turtle Creek subdivision in Gulfport. Sections for a two-bedroom model unit and a three-bedroom model unit were trucked in from builder Royal Concrete Concepts in Okeechobee [oh-kih-CHO-bee], Florida, and were completely assembled the following day. The homes are made of solid concrete and are able to withstand 200-miles-per-hour winds. The subdivision will have lots for 248 homes and a grand opening is set for September 18.

THE WEB SITE ENVIRO.BLR.com recently took note of a Federal Register item on HUD’s Formaldehyde Proposal. As part of a package of proposed amendments to the federal manufactured home construction and safety standards, the Department of Housing and Urban Development {HUD) is seeking to revise the maximum emissions levels for formaldehyde in particleboard and medium density fiberboard. Since 1985, HUD has restricted plywood and particleboard in the construction of prefabricated and mobile homes to products that conform to specified formaldehyde emissions limits. In the past, some of these homes had elevated levels of formaldehyde because of the large amount of high-emitting pressed wood products used in their construction and their relatively small interior space.

HUD’s proposals would lower the formaldehyde maximum emissions levels for particleboard materials used in flooring applications from 0.3 parts per million to 0.2 parts per million; from other uses of particleboard materials to 0.3 parts per million; and by adding new formaldehyde emissions controls for MDF materials of 0.3 parts per million. The proposed amendments would require no changes in existing technology for either product to achieve the proposed reduced formaldehyde levels, according to HUD.

HUD’s proposed changes to its manufactured home construction and safety standards were published in the July 13, 2010, Federal Register.

ACCORDING TO THE ASSOCIATED PRESS, the Rosebud Sioux Tribe showed off a high-tech plant recently where manufactured homes are being built for the reservation in South Dakota. The 33,600-square-foot facility, owned by the tribe’s Ojinjintka [O-jin-JINT-ka] Housing Development Corporation, has the capacity to build as many as 48 homes for low-income families each year and employs tribal members. The plant will employee 18 people by September, and could increase soon to 26. The tribe is currently building seven homes with $1.1 million from the U.S. Bureau of Indian Affairs Housing Improvement Program and another five houses under a $1 million contract provided by the federal Native American and Self-Determination Act.

In Market News…

FED CHAIRMAN BEN BERNANKE said “we’ll do all we can” to protect economic recovery; and markets moved up 164 points, crossing the 10,000 mark once again. The comments came at the Kansas City Fed’s annual monetary symposium held in Jackson Hole, Wyoming, and follow a series of negative economic reports. The general market didn’t keep the manufactured housing composite vale from sliding, however. It closed down half of one percent. Cavco was down more than 3 percent, but Palm Harbor Homes, Skyline Corp and Barnes Group all closed higher.

A NEW MONTH is on the horizon and some events that could significantly impact markets in the coming month include the release of the S&P/Case-Shiller index of home prices for June and the second quarter, August 31; information from the Commerce Department on construction spending for July, September 1; a release of industrial production statistics from the Federal Reserve, September 15; the National Association of Home Builders housing market index for September, arriving on the 20th; housing starts from the Commerce Department, September 21; existing home sales for August from the National Association of Realtors, September 23rd, and the S&P/Case-Shiller index of home prices for July, on September 28th.

On behalf of Production and IT Manager Bob Stovall, Editor L.A. Tony Kovach, Associate Editor Catherine Frenzel, INdustry in Focus reporter Eric Miller, and the entire MHMSM.com writing and support team, this is Erin Patla. Gday!

Listen to Podcast Here

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com
Categories: news-at-noon Tags:


Manufactured Housing in the News at noon 100830

August 30th, 2010 Comments off

MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla.

DID YOU KNOW that MHMSM’s News at Noon is available on iTunes? To access, simply start iTunes, type MHMSM into the search box and the Podcast list will appear.

Now we begin with these stories:

MHI REPORTS that USDA Housing Administrator Tammye Trevino announced on August 23, that implementation of the new funding fees for the Section 502 Single Family Loan Guarantee Program is expected by mid-September. Legislation was recently signed into law giving USDA the authority to increase the up-front fee to up to 3.5 percent of the principal obligation and to charge a new annual fee of up to .5 percent of the outstanding principal balance. USDA’s office of Rural Development expects to complete an interim enhancement to its electronic systems by mid-September to accommodate the increase. When this interim enhancement is complete, Rural Development will process all Conditional Commitments issued after May 26, 2010, that had the proviso “subject to the availability of funds.” These Conditional Commitments will be processed in the date order by which they were received. As soon as the program is implemented, Rural Development will resume issuing standard commitments without the special “subject to” condition.

Manufactured Housing in the News…

THE BIRMINGHAM BUSINESS JOURNAL is the latest to run a story on the increase in manufactured home sales, particularly with an increase in purchases of Clayton Homes. According to the paper, sales of its manufactured and modular homes around the Birmingham area are up more than 35 percent over last year. Corporate wide, sales are 22 percent better than the first half of 2009.

A GENESEO NEIGHBORHOOD in Illinois has recovered from a surprise flash flood earlier this year and came together this weekend to celebrating recovery, according to WQAD.com. Mud and water from a nearby creek covered homes in the Maple City trailer park back in May. Community donations have helped the recovery and Sunday residents celebrated with a cookout.

WCAX.COM REPORTS that thirty-four families at the Shircliff Mobile Home Park in Schuyler Falls, New York will have to find new homes because of ongoing sewage problems. Health officials say the septic system for the park needs to be completely replaced because raw sewage often ends up exposed on the ground after storms.

“Up next, Modular Housing in the News”

But first, this podcast of News at Noon is sponsored in part by:

LifeStylist.com – Lifestyle Driven Designs by Lifestylist® Suzanne Felber. Furniture, Decors and Model Homes designed for your budgets and your customers’ lifestyles.

Email them at answers@lifestylist.com, visit them on the Web at LifeStylist.com or call 214-941-8341.

Now, back to our stories.

Modular Housing in the News…

IN A STORY that News at Noon has been following since first reporting construction on July 21 for imminent delivery, the Gulfport Sun Herald reports that the first hurricane-resistant modular homes have recently been installed in the Turtle Creek subdivision in Gulfport. Sections for a two-bedroom model unit and a three-bedroom model unit were trucked in from builder Royal Concrete Concepts in Okeechobee [oh-kih-CHO-bee], Florida, and were completely assembled the following day. The homes are made of solid concrete and are able to withstand 200-miles-per-hour winds. The subdivision will have lots for 248 homes and a grand opening is set for September 18.

THE WEB SITE ENVIRO.BLR.com recently took note of a Federal Register item on HUD’s Formaldehyde Proposal. As part of a package of proposed amendments to the federal manufactured home construction and safety standards, the Department of Housing and Urban Development {HUD) is seeking to revise the maximum emissions levels for formaldehyde in particleboard and medium density fiberboard. Since 1985, HUD has restricted plywood and particleboard in the construction of prefabricated and mobile homes to products that conform to specified formaldehyde emissions limits. In the past, some of these homes had elevated levels of formaldehyde because of the large amount of high-emitting pressed wood products used in their construction and their relatively small interior space.

HUD’s proposals would lower the formaldehyde maximum emissions levels for particleboard materials used in flooring applications from 0.3 parts per million to 0.2 parts per million; from other uses of particleboard materials to 0.3 parts per million; and by adding new formaldehyde emissions controls for MDF materials of 0.3 parts per million. The proposed amendments would require no changes in existing technology for either product to achieve the proposed reduced formaldehyde levels, according to HUD.

HUD’s proposed changes to its manufactured home construction and safety standards were published in the July 13, 2010, Federal Register.

ACCORDING TO THE ASSOCIATED PRESS, the Rosebud Sioux Tribe showed off a high-tech plant recently where manufactured homes are being built for the reservation in South Dakota. The 33,600-square-foot facility, owned by the tribe’s Ojinjintka [O-jin-JINT-ka] Housing Development Corporation, has the capacity to build as many as 48 homes for low-income families each year and employs tribal members. The plant will employee 18 people by September, and could increase soon to 26. The tribe is currently building seven homes with $1.1 million from the U.S. Bureau of Indian Affairs Housing Improvement Program and another five houses under a $1 million contract provided by the federal Native American and Self-Determination Act.

In Market News…

FED CHAIRMAN BEN BERNANKE said “we’ll do all we can” to protect economic recovery; and markets moved up 164 points, crossing the 10,000 mark once again. The comments came at the Kansas City Fed’s annual monetary symposium held in Jackson Hole, Wyoming, and follow a series of negative economic reports. The general market didn’t keep the manufactured housing composite vale from sliding, however. It closed down half of one percent. Cavco was down more than 3 percent, but Palm Harbor Homes, Skyline Corp and Barnes Group all closed higher.

A NEW MONTH is on the horizon and some events that could significantly impact markets in the coming month include the release of the S&P/Case-Shiller index of home prices for June and the second quarter, August 31; information from the Commerce Department on construction spending for July, September 1; a release of industrial production statistics from the Federal Reserve, September 15; the National Association of Home Builders housing market index for September, arriving on the 20th; housing starts from the Commerce Department, September 21; existing home sales for August from the National Association of Realtors, September 23rd, and the S&P/Case-Shiller index of home prices for July, on September 28th.

On behalf of Production and IT Manager Bob Stovall, Editor L.A. Tony Kovach, Associate Editor Catherine Frenzel, INdustry in Focus reporter Eric Miller, and the entire MHMSM.com writing and support team, this is Erin Patla. Gday!

Listen to Podcast Here


To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com
Categories: news-at-noon Tags:


Modular Homes in the News at noon 100827

August 27th, 2010 Comments off

MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla.

We begin with these stories:

SEVERAL STATE ASSOCIATIONS have launched an exploratory effort to look into whether the industry could benefit from additional lobbying help in Washington. A high-profile lobbyist could both help provide a unified voice and aid in making sure legislation doesn’t lose its intent in the regulatory process. Arkansas state association executive J.D. Harper says many of the industry’s problems are on the regulatory side.

{INSERT HARPER CLIP}

To Harper and others, the additional lobbying help may provide the access needed to improve that process. Harper says he has been asked to serve as the secretary of the loosely-formed coalition. A request for proposals has been sent, responses have been returned and they are being reviewed. Read three views on the Industry InFocus report by Eric Miller at mhmsm.com.

THE PRICE OF SOLAR POWER could soon come down to earth. A new federal government report concludes that by 2015, the cost of solar power will be the same as the cost of power from the electrical grid and may go down from there. The report predicts that the cost of generating power from rooftop solar panels will drop from the 2009 cost of $0.21 per kWh to $0.10 per kWh in 2015—equivalent to typical household electricity rates. The study focused on the impact of technological innovations funded by the federal American Recovery and Reinvestment Act.

THE DELINQUENCY RATE for mortgage loans on one-to-four-unit residential properties dropped to a seasonally adjusted rate of 9.85 percent of all loans outstanding as of the end of the second quarter of 2010, a decrease of 21 basis points from the first quarter of 2010, and an increase of 61 basis points from one year ago, according to the Mortgage Bankers Association (MBA)’s National Delinquency Survey. The percentage of loans on which foreclosure actions were started during the second quarter was 1.11 percent, down 12 basis points from last quarter and down 25 basis points from one year ago. Jay Brinkmann, MBA’s chief economist says the disappointing news is that, after declining since the beginning of 2009, the rate of short-term delinquencies is going up and the increase in these short-term delinquencies may ultimately drive the foreclosure measures back up. Eleven states saw increases in the rate of foreclosure starts on a year over year basis, with the largest increases coming in Illinois, South Dakota and New Mexico.  The largest decreases were in California, Florida and Nevada.

“Up next, Modular Homes in the News…

But first, this podcast of News at Noon is sponsored in part by:

MHMSM.com/solutions.

Do you have vacant homes or sites? Does your financing, market, sales or management need a boost? From high Return on Investment online marketing, to public relations, sales, lead and management systems and more, make us your Solutions Resource. When you are ready for the answers to your needs, visit MHMSM.com/solutions.

Now, back to…

Modular Homes in the News

UNABLE TO SELL THEIR OLD HOME, a Colorado family decided to have it replaced with a new modular one. The Delta County Independent reports that the more than100-year-old home of Rex and Karen Emmons was recently torn town to make room for a new modular home in September. According to the article, the family could not purchase a new home outside the town and so decided to replace the old one.

MODULAR HOME MANUFACTURER Excel Homes is adding fire sprinklers to its options list. It’s the result of an alliance between Excel Homes and F.E. Moran, a Chicago-based fire-protection firm.  According to an article in Builder, the systems are jointly designed and mostly installed at Excel’s factory, with Moran providing the finishing touches to the system and ensuring it’s installed and working properly at the jobsite. The first system will be included in a home to be featured on “Extreme Makeover: Home Edition.”

And for Manufactured Housing in the News…

THE NEW BRUNSWICK BEACON in North Carolina reported recently that manufactured home sellers are seeing an up-tick in business. More, some of the homes feature solid oak cabinets, walk-in closets and simulated or solid-surface countertops—luxuries you might not expect in a manufactured home. Buyers are responding and retailers are reporting more business during the first half of 2010 than in all of 2009.

In Market News…

ANALYSTS SAY the economy continues to slow and that kept Wall Street in the red Thursday, closing once again below the 10,000 mark.  A positive on jobless claims was overshadowed by expectation of lower GDP numbers to be released Friday. Economists expect the government to revise second-quarter GDP to 1.5 percent.  Todd Schoenberger [SHANEburger], managing director at LandColt Trading, told CNBC that anything below 2.0 percent tomorrow will have stocks opening significantly lower. Most manufactured housing-related stocks closed lower including Palm Harbor Homes, down nearly four percent; Drew Industries, down more than two percent and Sun Communities, down a little more than one and a half percent. Cavco, UMH Properties and Skyline Corp finished the trading day with small gains, however, and the manufactured housing composite value was up by .86 percent.

“On behalf of Production and IT Manager Bob Stovall, Editor L.A. ‘Tony’ Kovach, Associate Editor Catherine Frenzel, INdustry in Focus reporter Eric Miller, and the entire MHMSM.com writing and support team, this is Erin Patla. G’day!”

Listen to Podcast Here

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com
Categories: news-at-noon Tags:


Manufactured Housing in the News at noon 100826

August 26th, 2010 Comments off

MHMSM.com presents Factory Built Housing Industry News at Noon with Erin Patla.

We begin with these stories:

THE COMMERCE DEPARTMENT’S U.S. Census Bureau released data Tuesday on new residential construction in July 2010.  Permits for new housing units declined 3.1 percent in July.  An Associated Press article noted that was the slowest pace on record dating back to 1963 and worse than the pace forecast by economists polled by Thomson Reuters. Housing starts increased 1.7 percent, however. The Commerce Department reports that is consistent with private sector expectations of a two percent increase.  “Today’s data show that new housing activity appears to be stabilizing in the wake of the expiration of the home buyer tax credit,” Commerce Secretary Gary Locke said.

PIMCO’S BILL GROSS told CNBC today that consumers don’t have the cash to take advantage of four percent interest rates and Fannie Mae and Freddie Mac need to ease the requirements for down payments so debt-stressed consumers can afford to buy houses again. The government, he says, can influence down payment regulations through the control it exerts over Fannie and Freddie, which control about 90 percent of the secondary mortgage market.

MORTGAGE RATES RALLIED OFF record lows, reports Bankrate.com. A four-week streak of record-low rates for the 30-year fixed Mortgage rates went up this week with a rise of six basis points to 4.63 percent. A basis point is one-hundredth of 1 percentage point. The benchmark 15-year, fixed-rate mortgage rose 5 basis points, to 4.11 percent.

“Manufactured Housing in the News

A STORY ON THE RELEASE of i-house [EYE-house] 2.0 has appeared on the website of the tech-savvy business magazine Fast Company. The magazine notes that at $74,900-$93,300, last year’s model was both affordable and energy efficient, costing less that $70 a month for energy. But why the upgrade? As writer Lloyd Alter on the web site Treehugger explains, everyone who goes into prefab to change the building world thinks that you should start with a small unit to be greener and more affordable, but quickly finds out that the market for modern prefab is people with land and money, and they almost invariably want what is in every “normal” house, namely three bedrooms, two baths and a den. And that is what Clayton has done with i-house 2.0. The article notes that Clayton had anticipated selling 2,000 houses per year, but according to Treehugger, as of last Spring only 20 had been sold. No word yet on potential pricing for i-house 2.0.

THE RIVERSIDE PRESS ENTERPRISE reports that at least 1,000 people, perhaps as many at 1,500, are expected to apply for fewer than 100 jobs at MVP RV’s job fair this weekend. The company announced earlier this month that it has purchased two adjacent facilities formerly owned by Fleetwood Enterprises Inc. The company’s CFO Roger Humeston told the paper he’s been approached in church by people he doesn’t know offering their résumés. The company is looking to hire assemblers, welders and material-handling personnel as well as financial and administrative specialists.

More Manufactured Housing stories will continue…

But first, this podcast of News at Noon is sponsored in part by:

CommunityDASHinvestor.com. TAP into Excellence, your ONE-STOP Resource for the Manufactured Housing Industry, the Leader in Land Lease Communities information!

Tap into Excellence – visit on the Web at CommunityDASHinvestor.com or call 317-346-7156.

Now, back to our Manufactured Housing stories.

MULTIPLE SOURCES SAY Penn Lyon Homes Inc., a commercial and residential modular home builder in Selinsgrove, Pennsylvania, may soon shutter. That hasn’t been announced by the company, but reporters at the Daily Item say the owners haven’t returned phone calls. Moreover Pennsylvania State Representative Merle Phillips of Sunbury, told the paper he had received a phone call Monday from a person who said he was an employee and about to lose his job. Greater Susquehanna Valley Chamber of Commerce president Charlie Ross told the paper he had also heard about a possible closure from more than one source, paid a visit to the factory but was unable to get an answer. Calls to Penn Lyon by MHMSM.com were not returned as of the filing of this report. Mary Gaiski, executive vice president of the Pennsylvania Manufactured Housing Association was quoted in the paper saying all of the roughly 40 manufactured or modular construction companies in the state have downsized. She could also not verify whether the plant would close.

LUXURY SITE BUILDER Toll Brothers has defied (bad news on the housing front) and (analysts predicting a loss) by posting a fiscal third-quarter profit on Wednesday. Still, the luxury homebuilder said fewer buyers signed contracts, another sign that housing and the broader economy are stumbling. The average price of Toll’s net new home contracts during the quarter was $571,000, up from $535,000 in the prior-year period and ahead of $567,000 in the second quarter.

In Market News…

STOCKS MANAGED TO CLOSE up nearly 20 points after spending most of the day in the red. Stocks sold off sharply after the release of news about home sales, but by afternoon homebuilder stocks had come full circle. In addition to Toll Brothers, Lennar and KB Homes also had gains for the day. Manufactured home stocks were also largely showing green. All American Group closed up more than five percent while Skyline and Drew Industries were each up more than four percent. Palm harbor Homes and UMH Properties were down for the day.  Manufactured housing composite values were up 2.46 percent.

On behalf of Production and IT Manager Bob Stovall, Editor L.A. Tony Kovach, Associate Editor Catherine Frenzel, INdustry in Focus reporter Eric Miller, and the entire MHMSM.com writing and support team, this is Erin Patla. Gday!

Listen to Podcast Here

To submit a news tip, please click here: iReportMHNewsTips@MHMSM.com
Categories: news-at-noon Tags: