Posts Tagged ‘association of realtors’

State Moves to Ease Restrictions on MH Sellers

May 5th, 2017 Comments off

A manufactured home in Arizona. Credit: Casa Del Sol Resort East.

The state of Arizona has taken steps to ease restrictions on the transfer of manufactured homes to simplify the process for potential sellers.

According to the Arizona Business Daily, the decision is tied to an effort to better compete with surrounding states in the manufactured home sales sector. Until the move at the end of March, anyone who wanted to sell a manufactured home was required to obtain a separate broker or dealer license from the Arizona Department of Housing (ADH) Manufactured Housing Division.

The Arizona Association of Realtors says that there are very few ADH licensed dealers remaining in the state, and that many sellers found themselves on the wrong side of deeply discounted prices in other states, where sellers fared better.

The measure will permit a real estate broker or salesperson to perform sales duties on behalf of a licensed manufactured housing dealer for units located in a mobile home park if the dealer complies with required fees and paperwork,” the associate said in a statement.

Additionally, such a professional will be allowed to act on behalf of a private party as long as the person remains in compliance with the Arizona Department of Real Estate.”

The legislation for the action, HB 2072, was introduced by state representative Jeff Weninger (R-Chandler) and Arizona Governor Doug Ducey signed the bill into law in late March. It is slated to become effective later this year.

As Daily Business News readers are aware, manufactured housing continues to provide a cost effective and efficient solution to affordable housing with high quality.

The Manufactured Housing Association for Regulatory Reform (MHARR) tells MHProNews that, according to official statistics compiled on behalf of the U.S. Department of Housing and Urban Development (HUD), year-over-year manufactured housing industry production increased substantially again during March 2017.

These statistics indicate that HUD Code manufacturers produced 8,245 homes in March 2017, a nearly 16 percent increase over the 7,110 HUD Code homes produced during March 2016.

Cumulative industry production for 2017 now totals 23,384 homes, a 22.4 percent increase over the 19,101 HUD Code homes produced over the same period in 2016. The full report is linked here. ##


(Image credits are as shown above, and when provided by third parties, are shared under fair use guidelines.)



RC Williams, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Builder Confidence for Single-family Homes Remains at 58

March 16th, 2016 Comments off

house building  comstock premiumCalling it “slow but steady progress,” the National Association of Home Builders (NAHB) reports to MHProNews that the Housing Market Index for March was unchanged at 58, after rising to 64 last October, which was a ten-year high.

January saw sales of existing homes hit the second highest rate of the expansion, according to marketwatch, with housing selling so strong inventory of for sale homes fell to one of its lowest points in decades, moving prices higher.

A survey conducted by the Association of Realtors (NAR) revealed an overwhelming preference of homeowners want a single-family home in the suburbs.

Chief Economist for the NAR, Lawrence Yun, said, “Supply and demand imbalances and unhealthy levels of price growth in several metro areas have made buying an affordable home an onerous task for far too many first-time buyers and middle-class families.”

While Yun added, “It’s time for homebuilders to double their focus on constructing single-family homes,” builder members continue to report difficulties obtaining lots and workers. ##

(Photo credit: comstock)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

NAR releases 2013 Profile of Home Buyers, Sellers

November 20th, 2013 Comments off

Highlights-NAR-HBS-2013lawrence_yun,_nar_chief_economist=realtor-mag-realtor-org-The National Association of Realtors (NAR) recently released its 2013 Profile of Home Buyers and Selelrs. Saint Louis Today tells MHProNews the American Dream of home ownership is alive and well. Sixty-six percent of buyers surveyed are married couples, the highest percentage since 2001. The percentage of single home buyers dropped to 25 percent, which is a drop of 7 percent in the last two years. “Single homebuyers have been suppressed the last three years by restrictive mortgage lending standards, which favor dual-income households that are more likely to have higher credit scores,” said Lawrence Yun, NAR chief economist, about the survey results. “Affordability conditions remain favorable in much of the country, but consumers need access to safe and sound financing, particularly the 30-year, fixed-rate mortgage and with low down payment options for first-time buyers.”

You can download an abridged version of the NAR 2013 Profile of Home Buyers and Sellers here. ##

(Photo credit: RealtorMag)

Rising Mortgage Rates=an Improved Economy?

September 12th, 2013 Comments off

Mortgage applications fell 13.5 percent from last week, and the 30-year fixed-rate mortgage rate rose from 4.51 percent to 4.57 percent this week, according to HousingWire. Mortgage Bankers Association (MBA) reports the Refinance Index fell 20 percent from the previous week, and 71 percent from the week of May 3. Noting refinance applications are the first to drop when mortgage rates rise, Trulia‘s Chief Economist Jed Kolko says, “Recent history shows that spiking mortgage rates take a big chomp out of refinancing immediately and smaller nibbles out of sales three months later. Longer term, the impact of rising rates is typically offset by stronger economic growth.” The National Association of Realtors (NAR) says pending home sales fell 1.3 percent in July, and that is partly seasonal, but levels are still high. As MHProNews has learned, this is the bottom line: Over the last 15 years, a rise in mortgage rates correlated with an improved economy.

(Image credit: HousingWire)

Texas to need over Ten Million Housing Units

August 15th, 2013 Comments off

According to Jim Gaines from the Real Estate Center at Texas A&M University, the population of Texas is anticipated to increase to 30 million by 2050, a gain of nearly 120 percent, which will require 10.5 million additional housing units. The Dallas-Fort Worth area is expected to grow 163 percent to 16.8 million by 2050, and the greater Houston area will increase more than 143 percent to nearly 15 million. Rich Thomas, CEO of the MetroTex Association of Realtors, tells HousingWire many corporations are moving to the state, adding that the Great Recession did not hit the state as hard as many other parts of the country. He says, “We have such a diverse industry that people can come from virtually any kind of job opportunity and have places to work.” As MHProNews knows, Texas continues to be the monthly leading shipment state for manufactured homes.

(Image credit: city of Pecos, Texas)

Home Prices Surge in June over Last Year

August 7th, 2013 Comments off

Despite gains in the last year, home prices remain 19 percent below their peak in 2006, according to CoreLogic, although U. S. home prices swelled 11.9 percent in June over June of 2012. That is why many homeowners are waiting to put their homes on the market, which keeps the for sale inventory low, potentially leading to more price increases. The National Association of Realtors (NAR) reports previously-owned homes sold in June, 2013 at a seasonally annual-adjusted rate (SAAR) of 5.08 million, 15.2 percent above the level reached last June, and close to a 3 1/2 high achieved in May. Home prices rose in 48 states, falling only in Mississippi and Delaware, as newsobserver informs MHProNews, and rose in all but one of the largest American cities. Additionally, sales of foreclosed properties, which typically sell at a discount, now make up a smaller proportion of transactions and have less effect in pulling down overall home prices.

(Photo credit: Paul J. Richards/Getty Images)

Manufactured Housing Poses Affordable Option in Nevada

August 6th, 2013 Comments off

The Elko County Association of Realtors Multiple Listing Service northeast Nevada reports the number of site-built homes has quadrupled in the last five years, and in the first half of this year the median price of homes hit $258,900. While interest rates have risen this year, they are still lower than 2012. Meanwhile, for those more budget conscious, the median price of a manufactured home is $165,000 says Gary Morfin of Century 21 says some lenders will not finance a manufactured home if it has already been moved, although just recently several lenders say they are considering changing that policy. Morfin informs MHProNews it costs $10,000-$15,000 to move a manufactured home onto a site, more expensive now that the Nevada Manufactured Housing Division began regulating these homes.

(Photo credit: MHVillage–manufsctured home)

Housing Market Continues to Heat Up

June 20th, 2013 Comments off

Noting the median home price jumped eight percent from April to May to $208,000, and sales of homes rose four percent for the same period, chief economist Lawrence Yun of the National Association of Realtors (NAR) says, “The home price growth is too fast, and only additional supply from new home building can moderate future price growth.” He says there needs to be a 50 percent increase in home building to stave off another potential housing bubble. Distressed sales have dropped from 25 percent of overall sales one year ago to 18 percent, which accounts for some of the rise in rices. Sales are up 13 percent from one year ago to an average annual rate of 5.18 million homes for the month. As CNNMoney informs MHProNews, the low mortgage rates and improved housing market are attracting buyers faster than sellers are putting homes on the market. Buyer traffic has increased 29 percent from a year ago, but the inventory of homes for sale has fallen ten percent.

(Image credit: HousingWire –housing prices rising)

Rental Market Continues to Expand

June 13th, 2013 Comments off

According to the National Association of Realtors (NAR), five to six million renter households will be created within the next ten years, as reported in HousingWire. The Census Bureau says renting households increased substantially from 2008 to 39 million, and that number will rise to 41 million in two years. Residential renter Real Property Management doubled in size during the last two years, and expects to add 60-80 franchises this year, and 100 next year. As the inventory of homes for sale remains thin and location is a dominant factor, families may choose to rent if they cannot find a house in the desired neighborhood to purchase. CEO Wally Chernoff of Rent Range states of single-family renters, 97 percent rank a safe neighborhood as important while 84 percent say school is critical. MHProNews published a story yesterday in which UMH CEO Sam Landy says the occupancy rate at the company’s 68 manufactured home communities has risen due to the strength of the rental market. As a result, UMH plans to add 200 rentals this year.

(Photo credit: apartmentquest)

Total Home Sales Rise in April

May 23rd, 2013 Comments off

MHProNews has learned from CNNMoney the National Association of Realtors (NAR) released figures today that show total home sales rose 0.6 percent in April to just under an annual pace of five million, up nearly ten percent from a year ago. Lawrence Yun. Chief economist for NAR, noting consumer traffic is up 31 percent over a year ago, resulting in greater demand than actual sales, says tight credit and low inventory has prevented sales from being well over five million. The median price of a home sold in April rose four percent over March to $242,600, and nine percent over a year ago. Inventory on the market represented a 5.2 month supply at the current pace of sales, up over March but below the 6.6 month supply a year ago. Distressed sales represent 18 percent of all home sales, a drop from 28 percent a year ago. The pace of new home sales has been increasing every month for almost two years, and is at the strongest rate since Nov. 2009 when sales were spurred by a home-buyers tax credit.

(Photo credit: Paul J. Richards/Getty Images)