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Posts Tagged ‘budgets’

Higher Mortgage Rates Cause Pause, may Fuel more Home Sales soon

August 26th, 2013 Comments off

nahb-2-logo-posted-daily-business-news-manufactured-home-marketing-sales-management-mhpronews-com-The National Association of Home Builders (NAHB) tells MHProNews that sales of newly built, single family homes declined in July 13.4%, to a seasonally adjusted annual rate (SAAR) of 394,000 units. “The drop-off in sales in July is in part a reflection of buyers’ reaction to the recent uptick in mortgage rates as people reassess their budgets to determine how much house they can afford,” said Rick Judson, chairman of the NAHB. NAHB Chief Economist David Crowe said, “However, there is still a great deal of pent-up demand for homes in markets nationwide, and builders continue to report improving consumer interest. This suggests that what we’re seeing is a temporary pause, and that buyers will return to the market once they are confident that the higher mortgage rates are here to stay.” ##

(Image Credit: NAHB Logo)

House Committee to HUD: Hire Manufactured Housing Administrator or Else

June 29th, 2013 Comments off

The 2014 fiscal year House Appropriations Committee measure that outlines budgets for the Dept. of Housing and Urban development (HUD) contains a provision that HUD must choose a permanent administrator of the Office of Manufactured Housing within 120 days of the legislation’s enactment. Introduced by Rep. Chuck Fleischmann (R-Tenn.), if HUD fails to meet this deadline, the agency will lose $50,000 in salaries and expense budgeting for each day the requirement is not met, according to the Manufactured Housing Institute (MHI) newsletter. The report accompanying the bill states that “the Committee understands that a substantial backlog of recommendations approved by the Manufactured Housing Consensus Committee exists, and a lack of action and attention in this area has meant that codes and standards have not kept pace with technological innovation or allowed the industry to keep pace with consumer demand. The Committee looks forward to a more focused and responsive office under permanent leadership.” Knowing of the committee’s activity, a week prior HUD issued a notice announcing its search for someone to fill the administrator post, reversing a long-standing policy to leave the post vacant. As MHProNews knows, this marks an important milestone for the industry.

(Image credit: Fairmont Homes)

2012 Manufactured Home Buyer’s Survey

August 14th, 2012 Comments off

mhbuyer's-survey-MHVillage-MHProNewsA survey of manufactured home buyers was done recently by an industry-leading business-to-consumer service provider.

 

The survey by MHVillage revealed the following results.

 

 

 

How soon would you like to move?

Now 22%
Next Month 25%
Next 6 Months 26%
Next Year 10%
Just Looking 17%

Are you looking to rent or purchase a home?

Buying 67%
Renting 33%

Which of the below will most influence your decision where to live?

Price 33%
Living in a single family home 5%
Amenities (pool, recreation center, etc.) 6%
Location 43%
Activities 1%
Have a friend/relative that lives in the community 1%
Move-in specials 3%
Living in a brand new home 1%

MHProNews.com plans to publish the complete survey, which included insights on the budgets and payments of buyers. ##

(Graphic credit: MHVillage)

Rents Rise, Vacancies Drop

July 23rd, 2012 Comments off

MHProNews has learned from NBCBayArea average monthly rent in Oakland, California increased 14.4 percent over the past year, in San Francisco by 12.9 percent, and in San Jose 10.1 percent. As rents get more expensive due to improvements in the job market, and affordable housing budgets are slashed, low-income residents will be forced to find housing farther away, increasing their commute to work. Harvard University’s Joint Center for Housing Studies reports the overall vacancy rate dropping from 10.6 percent in 2009 to 9.5 percent last year, the lowest level since 2002.

(Photo credit: Zimbio)

And Now for the Rest of the Story……..

June 28th, 2012 Comments off

Following a Daily Business News post from June 18, 2012 about two MHCs in Carver, Massachusetts being snatched from the jaws of Equity Lifestyle Properties and becoming co-operatives, MHProNews has learned from boston, according to MA law, MHC residents have the first right of refusal if their community is being sold. Pine Tree Village (family, 186 homes) and Cranberry Village (55+, 280 homes) owner David Piper signed an agreement to sell the pair to ELS in Dec. 2011 for $22 million, a figure the residents had to match. The residents approached Piper with their offer the day before he was set to close with ELS. ROC (resident-owned communities) USA, a specialist in MHC co-operatives, arranged the 30 year mortgages for each community—6% for Pine Tree, 6.2% for Cranberry. Massachusetts-based Community Development Institute assisted ROC in developing budgets, finding a management team, and setting up operations.

(Photo credit: Amelia Kunhardt/The Patriot Ledger—Pine Tree residents Susan Roovers with daughter Whitford)