Posts Tagged ‘dean’

Board Rejects Seizing Manufactured Homes

July 19th, 2013 Comments off

The Board of Selectmen in Exeter, New Hampshire voted unanimously to issue a tax deed on a single-family home, thereby taking ownership of the home, but issued deed waivers on eight manufactured homes (MH) which are located in communities. All of the MHs have delinquent taxes going back to 2009, and some are abandoned, although the assessed value totals $214,000. Seizing the homes would require the town to pay site rents, but by not seizing them they have no right to enter the homes to determine their condition. Selectman Frank Ferraro questioned whether by not seizing the homes might it tell people who own homes there is no consequence to not paying their taxes. Town Manager Russ Dean replied it does not relieve them of their tax burden, as seacoastonline tells MHProNews. If property tax is not paid on an MH the second successive time, a lien can be placed on the property and the interest jumps from 12 percent to 18 percent.

(Photo credit: Matthew J. Silver–factory-built home)

Sunshine State getting Sunnier

February 22nd, 2013 Comments off

Not long ago Florida had one of the highest foreclosure rates in the country. As HousingWire informs MHProNews, in Jan. closed sales of existing single-family homes rose 11.7 percent over last Jan. to 13,679, while pending home sales for existing single-family homes jumped 31 percent versus last year. The median sales price for a home rose 12.4 percent year-over-year. Florida Realtors President Dean Asher, pointing out the time a house is on the market has fallen 15 percent, says, “This year started out strong for Florida’s housing market. Home sales continue to rise, mortgage rates remain near historic lows and the inventory of for-sale homes is lower than it’s been in years.”

(Image credit: etftrends)

Home Prices Post Largest Gain in Two Years Plus

November 30th, 2012 Comments off

According to the S&P/Case-Shiller Index, home prices registered the largest gain in over two years, moving up 3.6 percent in the third quarter over Q3 2011. CNNMoney reports the increase was the biggest since the second quarter of 2010 when the homeowner’s tax credit of up to $8,000 ended. A drop in foreclosures to a five-year low, an improving jobs market and record low interest rates have sparked home sales and home building. Dean Baker, of the Center for Economic and Policy Research, says “We’ll probably do better than inflation for the next few years, and people who have been underwater on their mortgage will get out from that, and build some equity.” Only Chicago and New York of the 20 markets surveyed showed a modest price decline from a year ago. As MHProNews has learned, Phoenix, AZ, which was one of the hardest hit cities following the housing crash, experienced the largest increase, with prices 20.4 percent higher than last year.

(Image credit: mortgagebroker)

Full Housing Recovery: Ten Years Away?

September 5th, 2012 1 comment

originationnews says while home values are expected to rise around four percent this year, the increase is driven more by low inventory than by rising demand. The rise in some markets is due to investors buying especially lower-priced homes, and flipping them in six months to a year as prices improve. Dean Baker of the Center for Economic and Policy Research, noting the vacancy rate rising on single-family homes in Phoenix, where prices have increased 14 percent since 2011, says, “That’s consistent with the story of speculation.” Unlike many others in the housing industry, he will not be surprised if prices fall again. He says house prices typically rise with inflation, currently at two percent, which means it will be ten years before prices return to their peak in 2006, especially given all the underwater mortgages. MHProNews has learned that many of the new jobs that have been created recently are lower paying jobs, which may coincide with the fact that many of the homes being sold are lower priced homes.

(Image credit: andyenstallblog)

Two-story Modular Sited in One Day

March 22nd, 2012 Comments off

In a short video, Baristanet informs MHProNews, Fredco Modular Homes of Passaic, New Jersey details the erection of an Excel four bedroom, two bath, two-story modular home in one day. Since 1979 the Fredco Group has been involved in site development, golf course/sports field construction, and landscaping/hardscaping, including the construction of a full-sized tennis court in the middle of 23rd St and Broadway in New York City to promote the 2009 U.S. Open. In a link called “Taking Modular Homes to a Higher Level”, Bob Vila, the Dean of Home Renovation and Repair, comments on the benefits of a modular home, touting the energy-saving benefits of Structural Insulated Panels (SIPs) in particular. He says a modular home built with SIPs is more affordable to own in the long run, can save 50 percent to heat and cool, and needs less maintenance.To see the video:

(Photo credit: Baristanet)