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Posts Tagged ‘co ops’

Sunday Morning Recap-Manufactured Housing Industry News Dec. 27, 2015-Jan. 3, 2016

January 3rd, 2016 Comments off

mhpronews_sunday_morningWhat’s New in public focused Manufactured HomeLivingNews.com

College Education Made In Perpetuity – The Kalamazoo Promise; Von Washington Jr – where Affordability and Quality of Life Meet

Home/Manufactured Home Article/Lies, Advocacy Journalism and Statistics – Seattle Times/BuzzFeed Attacks, Warren Buffett’s Clayton Homes Defends – charges of Racism and Discrimination – Critical Analysis

What’s New in Manufactured Housing Industry Professional News

Manufactured home community opening in Arizona. New Hampshire gains another resident-owned community. MH industry in nationwide spotlight on PBS news show. SSK adds two manufactured home communities in Indiana. Insider stock trading at Cavco, while Gendell unloads more Patrick stock. November pending home sales fall. Consumer confidence on the rise. Skyline stock skyrockets, Equity LifeStyle Properties stock makes solid gains. Modular homes raise ire in Ireland. Capital One arranges MHC loan. And much much more in news and views for you to peruse as you welcome the New Year.

Saturday, Jan. 2, 2016

SSK Adds Two Manufactured Home Communities in Indiana

Friday, Jan. 1

Manufactured Home Community becomes Co-op in New Hampshire

Gendell Unloads more Patrick Stock

Stock Markets Closed Today; Peruse 2015 in MH-Related Stocks

Happy New Year, 2016!!!

Thursday, Dec. 31

Dow Closes Worst Year since 2008

Lenders Receive Reprieve on Minor Errors in Closings

Pending Home Sales Slip in Nov.

Insider Trading at Cavco Industries

Wednesday, Dec 30

Manufactured Housing to be Featured on PBS

Skyline Lives up to its name, Surging 31.58 Percent

Consumer Confidence on the Rise

Equity LifeStyle Properties Stock on a Roll?

Battle in Dublin over Modular Homes for the Homeless Escalates

Tuesday, Dec. 29

Pre HUD Code Home brought in Illegally

Modular Home Builders Pushing to Dispel Myths of Factory Built Homes

Deer Valley Corp. Falls 8.00 Percent; Dow Advances over One Percent

MHCC to Meet in Louisville

Contractor Charged with Stealing over $175,000

Monday, Dec. 28

Skyline Corp. Ends Fall; MHCV closes at 1140.1

Sun Leaves Diseased Tree, Declares Quarterly Dividend

Capital One Provides $11M+ Loan for Starlight in Southern CA

Arizona Manufactured Home Community to open Soon

Sunday Morning Recap-Manufactured Housing Industry News Dec. 20-Dec. 27, 2015 ##

(Image credit: MHProNews)

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

Paul Bradley Honored for Developing Manufactured Housing Co-ops

September 24th, 2013 Comments off

Paul Bradley, president of ROC (resident-owned communities) USA LLC has been chosen the Carsey 2013 Social Innovator of the Year, which recognizes a New England business leader with a commitment to social innovation and business. ROC USA assists residents of manufactured home communities (MHCs) form co-ops to buy their own communities. The founding president of ROC, Bradley has helped over 100 co-operatives secure community ownership, in the process preserving some 2,600 homes. Michael Swack, faculty director of the Carsey Institute’s Center on Social Innovation and Finance, says, “Paul Bradley has helped grow a social business that has helped thousands of people lead more secure lives by giving them a secure place to live. Paul is an innovator, critical thinker and outstanding leader. He is setting an example for how to scale a social business to serve people across the USA.” He will be presented with his award at the New Hampshire Social Business and Microfinance Forum Monday, Sept. 30, at the University of New Hampshire, according to fosters.com. The Carsey Institute at the University of New Hampshire conducts policy research on vulnerable children, youth, and families, and on sustainable community development, MHProNews has learned.

(Photo credit: fosters.com.–Paul Bradley of ROC USA LLC)

Co-op Organizer Finances MH Buys

December 28th, 2012 Comments off

According to Financial Advisor Magazine, 40 percent of the manufactured homes in the 100 cooperatively owned manufactured housing communities in New Hampshire are appreciating in value. Since 1984 the New Hampshire Community Loan Fund (NHCLF) has helped organize these 100 communities and began financing MH purchases in 2003, loaning $25 million over the last nine years for residents to purchase 600 homes in New Hampshire. Ranging from $10,000 to $100,000, the default rate on the loans is 1.6 percent. In 2008 NHCLF spun off ROC (resident-owned communities) USA to help organize co-ops nationwide. Studies have shown members of resident-owned communities plant more flowers and are more involved in community activities. NHCLF President Juliana Eades says the homes are appraised and not discriminated against because of age. Commenting on the 8.75 percent interest rate, Eades says, “It’s better than 14% or nothing, and it costs us to do this. We’re a lender and an organizer. Most lenders don’t want to organize, and most organizers don’t know anything about lending. The fact that we’re a lender helps pay for the organizing.” MHProNews learned that three months ago they began offering mortgages on homes sited on land owned by the borrower. Eades gets high praise from the Ford Foundation’s George McCarthy, director of metropolitan opportunity, who says, “Juliana Eades is creative, thoughtful, and willing to take risks and put the institution and the institution’s money on the line to make things happen.”

(Photo credit: ROC USA)

MHCs in Iowa cannot become Co-ops

September 12th, 2012 Comments off

Joe Kelly, executive vice-president of the Iowa Manufactured Housing Association (IAMHA), informs MHProNews that the Iowa Department of Revenue has notified local governments that land lease communities are not structured to qualify as co-ops under Iowa Code 499A. As a residential classification, co-ops pay only about half the taxes of the commercial class. Kelly says, “The essence of the argument against manufactured housing being a co-op is that the owner of the community does not own all the homes in the community. Chapter 499A allows the co-op owner ‘to build apartments or dwellings.’ The only two choices to respond to this developement is to either file a lawsuit or to ask the legislature to clarify on behalf of allowing manufactured housing to co-op.” The classification of at least two MHCs that declared as co-op had to be changed back to commercial.

(Photo credit: Prairie Oaks MHC in Cedar Rapids, Iowa—one of the communities that was forced to revert from co-op status.)

For-sale Home Inventory Falls

August 20th, 2012 Comments off

In its July analysis of housing data for 16 markets, realtormag reports housing inventories, including single-family, townhomes, condos, and co-ops are 19 percent below a year ago as for sale homes remain at record lows. “Low inventories, combined with rising list prices and lower times on market, are positive signs that the overall market is in a stabilization mode,” notes the magazine, as median asking prices hit 2.63 percent above list prices in July. In addition, housing inventory median age has dropped nine percent in that same time frame. MHProNews has learned of the ten metro areas registering the largest drops in inventories from July 2011 to July 2012, eight are in California. The top five, with their respective inventory changes are: Oakland, CA -59.30%; Fresno, CA -47.81%; Bakersfield, CA -44.71; Seattle-Bellevue-Everett, WA, -42.23%; and San Jose, CA -41.76%.

(Photo credit: mortgagebroker)

Set of MHCs Becoming Resident-owned

June 18th, 2012 Comments off

EnterpriseNews tells us 450 MHC homeowners from two different MHCs in Carver, Massachusetts, in the southeast part of the state, may soon become their own landlords. The nonprofit ROC (resident-owned communities) is assisting in the $23 million deal for Pine Tree Village and Cranberry Village to become community-owned co-ops, which essentially saved the two MHCs from the jaws of Sam Zell’s Equity Lifestyle Properties (ELS). Headquartered in New Hampshire, and working in 23 states, ROC says of the estimated 50,000 MHCs in the nation, 800-1,000 are resident-owned. MHProNews.com has learned the transaction could be finalized as early as Wed. June 20.

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

NH Program Helps MH Residents Save Energy

May 15th, 2012 Comments off

The U.S. Dept. Of Energy has contributed $600,000 to Southern New Hampshire Services project to weatherize 100 homes in Exeter’s four MHC Co-ops. The Regional Greenhouse Gas Emissions Reduction Fund through the N.H. Public Utilities Commission is donating $2 million for the program to expand to 425 homes in 20 resident-owned communities across the state by the end of the year. SeaCoastonline tells MHProNews.com Rick Minard of the state’s Community Loan Fund says the cost to weatherize each home is $6,500 but it reduces energy consumption by about 25 percent. The energy auditors who do the work also check for gas and carbon monoxide leaks. The materials and service are free, but applicants must qualify for fuel assistance in order to be eligible for MH weatherization.

(Photo credit: SeaCoastonline—Energy auditor Ken Cantara winterizing MH.

Community Ownership of Communities

May 4th, 2012 1 comment

A segment on National Public Radio (NPR) highlights the problem MHC residents may face if the MHC owner decides to sell his community, causing residents to lose a home that may no longer be mobile, and thus their financial investment. Where some people may see this as a huge boulder that cannot be moved, ROC (Resident Owned Communities) USA, a non-profit based in Concord, New Hampshire sees an opportunity for community residents to purchase the land their homes sit on as a co-operative. When a community comes up for sale, Paul Bradley, president of ROC, and his team help residents form an entity to make a bid on the land. If the bid is accepted, ROC helps the co-op find investors. To date he has received backing from several foundations, but he hopes to tap into the deep well of commercial markets, much like the $13 million Bank of America has invested. B of A’s’ Dan Latendere says ROC has a good business model. Says Bradley, “On over $200 million worth of total lending, not a single lender has lost a single dollar over the course of the last 30 years.” He sees MHCs as affordable housing for people of low to moderate incomes, and co-ops as the opportunity to control their destiny. MHProNews.com has learned community owner George Allen was quoted as supporting the ROC option. “ROC USA has helped 2,200 homeowners in 35 communities purchase their parks and gain economic security,” says Bradley. He adds, “I want resident ownership to be available to every homeowner group in the country that wants to buy their community.”

(Image credit: National Public Radio)

Co-ops Descend on White House

May 3rd, 2012 Comments off

Sys-ConMedia reports 29,000 cooperative businesses nationwide will be represented when 150 leaders of the National Cooperative Business Association (NCBA) gather at the White House May 4 with top policy makers to discuss their roles in job creation and business development in their communities. Liz Bailey, CEO of NCBA says cooperatives generate two million jobs each year. Cooperative success stories will be a highlight of the gathering. One of the presenters will be ROC (Resident-owned Communities) USA LLC, which helps homeowners in MHCs cooperatively purchase the land beneath their homes. ROC’s goal is to ensure affordable housing for low to moderate-income people and enable them to build wealth. ROC has helped take 110 communities to self-ownership. U.S. cooperatives account for more than $3 trillion in assets, over $500 billion in total revenue and $25 billion in wages and benefits. Paul Bradley, president of ROC USA, is a contributor to MHProNews.com.