Posts Tagged ‘image credit’

Stunning 2 Million dollar manufactured home, but TMZ and media struggle to ‘get it’

August 30th, 2013 Comments off

betsy-russell-saw-star-1,999,999-manufactured-home-'mobile-home'-credit-redfin-mls-posted-daily-business-news-Saw star Betsy Russell recently listed her lavish, custom manufactured home overlooking the Pacific Ocean in ritzy Malibu for just a buck under a cool 2 million. TMZ and other media outlets both raved and ranted. “On top of the nearly $2 million price tag, the HOA fees will run the new owner a whopping $3,565 a month. That’s another $42,780 a year.” The media has little notion of the advantages that millionaires such as Russell, or more millions of owners of more modest means have with modern manufactured homes, including those placed in land lease communities. What sounds like a lot of money for site fees (aka “lot rent”), in many jurisdictions means you have little or no real estate taxes, and may have little or no personal property taxes. This is why the listing agent can correctly boast that it is the most amazing home-with-a-view value under 2 million dollars in Malibu, CA. For those who don’t know that market, another manufactured home sold in the same community for 1.1 million. will showcase Russell’s manufactured castle as a “featured home” as part of an article which will include 17 photos. Check back for a link here once its posted, or sign up for our popular, free twice weekly emailed news and tips alerts to get the link to that upcoming story. ##

(Image Credit: MLS/Redfin)

Panoramic’s Kennedy says, best and worst of times

August 29th, 2013 Comments off

epoch-times-micro-apartment2-daily-business-news-manufactured-housing-pro-news-com-ani1-Panoramic Interests CEO Patrick Kennedy says that for San Francisco developers, this is the best and worst of times. Epoch tells MHProNews that for those building in currently under-supplied market, it’s a good time. But costs are high, which are ultimately passed onto consumers. So Panoramic used modular construction for an infill recently to do a micro-apartment built offsite by Pankow and designed by ZETA Design+Build. “We wanted to use this as an example of how to use hyper-dense, hyper-green, hyper-efficient urban development,” Kennedy said. “The micro-apartments by their very nature use far fewer materials to satisfy basic housing needs; they’re also super efficient in terms of energy consumption. I think our typical apartment’s electrical bill is less than 15 bucks a month,” Kennedy said. The next project will be 120 units. ##

(Image credit: Panoramic/Epoch)

Criminal charges demanded against bankrupt MH Dealer

August 29th, 2013 Comments off

A bankrupt Wheeler Rental and Mobile Home Sales have about a dozen customers hopping mad, with some demanding criminal charges. Oklahoma City’s KFOR told MHProNews that Jerry and Lisa White signed a check to Wheeler to purchase a bigger home for the three grandchildren they adopted. “We want to make a good environment for these children only to have the rug pulled from under us by people like this,” said White, a former lawman. Wheeler filed for Chapter 11, but White said, “I believe they had the intent to steal it. If they don’t want to refund our money, we need to do everything we can to see about getting criminal charges filed. I think they have the money to pay us.” Meanwhile, some ‘do good’ manufactured home industry professionals are seeking to mitigate the losses of alleged victims, by helping them get what they paid for, even though those pros won’t profit from the effort. MHProNews plans to track this Sooner state story. ##

(Image credit: KFOR News)

Ingenia announces buy of two ‘down under’ MHCs

August 28th, 2013 Comments off

ingenia-communities-logo-posted-daily-business-news-manufactured-housing-professional-news-mhpronews-com-Ingenia (ASX:INA) purchased two immediately earnings-accretive Manufactured Home communities in Mudgee, New South Wales, for $11.2 million. The Mudgee Valley MHC will be acquired for $4 million, which has an 8.8% trailing yield, and unlevered internal rate of return (IRR) exceeding 20%. The second purchase is the Mudgee Tourist and Van Resort acquired for $7.2 million. The later property boasts a trailing yield of 9.3%, and an unlevered IRR exceeding 15%. Mudgee, New South Wales, Australia offers a buoyant local housing market, strong employment growth and a vibrant local economy underpinned by resources and agriculture. The proactiveinvestors also tells MHProNews the median house price in Mudgee is currently $389,000, and has grown at a 9.2% rate over the past five years, making manufactured housing down under an attractive niche investment for Ingenia. ##

(Image credit: Ingenia Communities logo)

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)

Texas Gains at CA, IL and NY Expense

August 23rd, 2013 Comments off
2004_tx_proof-credit-wikicommons-posted-daily-business-news-manufactured-housing-pro-news-mhpronews-com-Texas is not only the biggest state in the U.S. in terms of manufactured homes built and shipped, it is also ranked #1 for a pro-business environment by Chief Executive Magazine and now the Dallas Morning News reports it is one of the top 3 states in attracting people – and their incomes – from other parts of the U.S.. Florida gained $67.3 billion, Arizona $17.7 billion and Texas came in at 17.6 billion in adjusted gross income gained. Meanwhile, New York declined in net personal income the most, $45.6 billion. California ($29.4 billion) and Illinois ($20.4 billion) came in 2 and 3 in incoming lost by move outs. The latest U.S. census data shows Texas was the top destination for people from other states, with 140,888 net migrants for the year that ended in July 2012. Florida was No. 2, and Arizona was No. 3. A quarter of Texas’ net gain — $4.46 billion — came from California. That was followed by Louisiana ($2.63 billion), Illinois ($1.53 billion), New York ($1.13 billion) and Michigan ($1.04 billion). “There are hundreds of reasons,” including moving for a job, for family or because of the weather, Kasprak said. “Taxes are a factor when people are deciding where to live. At some point, states need to realize you can’t raise taxes too high or people will move away.” ##

(Image credit: WikiCommons)

Louisville 2014: Manufacturers Space Sold Out

August 22nd, 2013 Comments off

Louisville-show-2014With almost 5 months before the show starts, Dennis Hill with Show Ways Unlimited has told MHProNews that the manufacturers floor space is sold out. This is a good sign of the momentum being built during the last 3 years since the show was canceled in 2010. In 2011 there were some 2 dozens homes on display. In 2013, that number had risen to 39 homes. In 2014, 48 homes are booked, and it took getting more of the Kentucky Expo Center space to accommodate those extra homes. Updates are taking place on the during the next two weeks. You can also see the latest info on the show at this link on the Corporate Press Release news module. ##

(Image Credit: 2014 Louisville Show)

New Hampshire’s Community Loan Fund converts MHC #106

August 21st, 2013 Comments off

nh-community-loan-fund-logo-posted-daily-business-news-manufactured-home-pro-news-Residents of Lamprey River and Railroad Street land lease communities in Newmarket, NH recently purchased their communities. Heron Point Estates Cooperative, New Hampshire’s 106th manufactured-home cooperative forged through the work of the state’s Community Loan Fund, will manage both communities.  Education, technical assistance and funding were arranged by the New Hampshire Community Loan Fund, which allowed Lamprey River and Railroad Street residents to organize and form Heron Point Estates Cooperative, Inc. in June 2012. The coop then negotiated with the Wajda Family Trust – the communities private owner- for the final purchase price of $1.295 million before finalizing with mortgages from the Community Loan Fund and Profile Bank. Fosters says the Community Loan Fund converted its first manufactured home community (which it refered to as “mobile home parks”) in Meredith, NH in 1984. Their strategy is being applied in other parts of the U.S. by what Fosters calls a spinoff organization, ROC USA.  Cooperative President Susan Robshaw said: “We own it, we manage it and we will never have to worry about someone coming in and taking it away from us. It has brought a lot of us closer together and formed or renewed friendships. We will now work together to make it an awesome place to live because it is ours! It is my hope that everyone will take pride in ownership.”  ##

(Image credit: NH Community Loan Fund)


Students Build Disaster Shelter

January 8th, 2013 Comments off

Tallahassee tells MHProNews two University of South Florida architect students have designed an extruded aluminum disaster shelter that snaps together and is easily transportable. The main structural members can have conduit running through them, and the roof channels direct water to a tank at the rear of the modular unit. Termed Ablenook, the structure has an adjustable footprint which would preclude a level space; and modules can be added on for a kitchen, bath, additional bedrooms, etc. Jason Ross and Sean Verdecia hope the popular fund raising site KickStarter will fund a second prototype. Long range they envision the design being used for modular homes, business annexes, and classrooms.

(Image credit: A J. Hurley/Tallahassee)

Students Receive Delaware Manufactured Scholarships

August 14th, 2012 Comments off tells MHProNews that the First State Manufactured Housing Association in Delaware awarded two high school graduates their Manufactured Housing Scholarship Award for 2012. Sarah Bryan, a Delmarva Christian High School graduate, will be attending Southern Wesleyan University this fall. Bryan was a member of the student leadership council, science Olympiad team, and the National Honor Society. Chris Cutsail, a Laurel High School graduate, is entering his third year at the University of Delaware as an exercise science major with strength and conditioning minor. Cutsail recently accepted a science and engineering scholar position at the school. $1500 will be shared between the recipients. The First Housing Manufactured Housing Association has provided more than $31,000 in scholarships since 1999. ##

(Image credit: First State Manufactured Housing Association)