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Posts Tagged ‘deer valley homes’

Peerless Homes Finalizes 80 Percent Acquisition of Deer Valley Homes

October 6th, 2014 Comments off

deer_valley_homes__creditFollowing a story MHProNews last posted Sept. 4, 2014 regarding the acquisition of Deer Valley Corporation (DVLY) by software developer Peerless Systems Corp. (NASDAQ:PRLS), streetinsider.com reports Peerless has consummated its agreement to purchase 80 percent of Deer Valley common stock for $3.7 million. Through its manufacturing plant in Guin, Alabama, Deer Valley designs, manufactures, provides financing, warranty and repair services to the manufactured and modular homes it distributes in 14 states in the southeastern and south central regions of the U. S. “We look forward to working with the management team of Deer Valley to grow its revenues and profitability, both organically and through potential investments,” said Timothy E. Brog, Chairman and Chief Executive Officer of Peerless. MHProNews has learned Deer Valley has built 6,700 homes. Twelve months revenue for Deer Valley as of June 30, 2014 totaled $29.4 million. ##

(Photo credit: Deer Valley Homes)

Alabama Town Attracting Manufactured Home Subdivisions

September 11th, 2014 Comments off

deer_valley_homes__creditThe Falkville Town Council in Alabama held a public hearing concerning changing the zoning ordinance for manufactured homes (MH) to allow subdivisions of MH in new areas zoned MH-S, according to hartselleenquirer.com. The ordinance will continue to allow manufactured homes in residential R-1 and R-2 or agricultural zones AG-1 on appeal to the council. Planning Commission Chairman Steven Parker says, “We want to attract more people and keep the people we have by having nice residential areas. These subdivisions will allow manufactured homes in certain areas without an appeal, which should be helpful. They are subdivisions just like anywhere else except with all manufactured homes.”

The grandfather clause continues to state that a manufactured home in an improper zone can only be replaced if it is damaged but not a total loss. An MH completely destroyed can only be replaced in the appropriate district. Falkville Town Attorney Larry Madison says it works the same for any building grandfathered into an improper zone. The council is set to vote on the matter at the next meeting. No opinions were expressed by anyone from the public. MHProNews knows, in addition to having a number of manufactured home producers within its borders, Alabama ranks number five in shipments of MH. ##

(Photo credit: Deer Valley Homebuilders, headquartered in Guin, Ala)

Peerless Systems acquires Majority of Deer Valley Homebuilders

September 4th, 2014 Comments off

deer valley homes corpEighty percent of the outstanding common stock of manufactured home builder Deer Valley Corp. (DVLY) is being acquired by software developer Peerless Systems Corp. in a deal valued at $3.68 million, according to streetinsider.com. Based in Guin, Alabama, Deer Valley builds, distributes, finances and provides warranty and repair services for its homes that are marketed in 14 states, primarily in the South. Deer Valley’s revenue for the 12-month period ending June 28, 2014 was $29.4 million, and its book value as of that date was $9.7 million. MHProNews knows Deer Valley’s stock spiked +7.50 percent in yesterday’s trading (Sept. 3) to close at $0.86. ##

(Image credit: Deer Valley Homes, Corp.)

Loans more Available for Factory-built Home Buyers

April 17th, 2013 Comments off

MarketWatch informs MHProNews manufactured and modular home builder Deer Valley Corp.’s wholly-owned subsidiary, Deer Valley Financial, Inc., (DVF) has entered an agreement to provide CIS Home Loans with a $2.5 million line of credit to increase its portfolio of retail mortgages for buyers of manufactured and modular homes. This will allow CIS to offer bridge “construction-to-permanent loans” and the ultimate resale of the loan to government or private entities. Since it began in 2009, DVF’s financing has been available only to dealers of Deer Valley homes to acquire inventory. The partnership with CIS will now provide financing for retail buyers of manufactured and modular homes, primarily in south central U. S.

(Image credit: texaslendingtoday)