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Posts Tagged ‘Mississippi’

Cavco Reaches Terms on Key Acquisition

March 31st, 2017 1 comment
CavcoReachesTermsonKeyAcquisitioncreditLexingtonHomes-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Lexington Homes.

Cavco Industries Inc. (NASDAQ:CVCO) tells MHProNews that it has signed a Letter of Intent, and has reached an understanding, on terms to acquire Lexington Homes, Inc.

The purchase of Lexington is expected to improve Cavco’s ability to participate in the growing Southeastern housing market, as well as better serve the needs of Lexington customers. The purchase price, due to be paid in cash at closing and funded with Cavco’s internal capital, was not disclosed.

The transaction is subject to the satisfaction of customary closing conditions.

Cavco has been in the news recently, and in their most earnings report, the company delivered $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.11.

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Credit: Cavco Industries.

Those results fueled investor activity, as JP Morgan Chase, BNP Paribas Arbitrage SA, and the Teacher Retirement System of Texas all either increased their stakes in the company or purchased new positions. Cavco was also recently featured as British insurance giant Legal & General made a significant move in its stake in the company.

As Daily Business News readers are aware, Phoenix, AZ-based Cavco Industries is one of the largest producers of manufactured homes, as well as a builder of modular and park model homes, vacation cabins and commercial structures. Factory-built homes are designed and produced under such brand names as Cavco Homes, Fleetwood Homes and Palm Harbor Homes.

CavcoReachesTermsonKeyAcquisitioncreditBloomberg-postedtothedailybusinessnewsmhpronewsmhlivingnews

Cavco 1 year look. Credit: Bloomberg.

Lexington Homes provides affordable manufactured housing from its manufacturing plant in Lexington, Mississippi to its retail distributors in the Southeastern United States. The company was founded in 2004 by individuals with combined experience of over 100 years in the manufactured housing industry.

Cavco is also one of the manufactured home industry connected stocks tracked every business day by the Daily Business News, with the most recent report, linked here. ##

 

(Image credits are as shown above.)

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews

All Eyes on Tunica for Manufactured Housing This Week

March 27th, 2017 Comments off
AllEyesonTunicaforManufacturedHousingThisWeekcreditTunicaShow1-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Tunica Show.

The 2017 Tunica Manufactured Home show officially kicks off tomorrow with in-depth educational seminars, and with information focused on growth for you, and for the industry.

Kicking off at 1pm in the Resorts Hotel Magnolia Room, the “Getting Positive Media Coverage, Engaging the Media” panel discussion features Frank Rolfe, partner in RV Horizons and Mobile Home University (MHU), who has been featured about a dozen times in recent years, in the New York Times, Bloomberg and other news publications.

Frank Rolfe.

This panel also features Millennial and third-generation family-owned community partner, Tom Fath, who will share his experiences at how they boosted new home sales some 400 percent, using the same lending programs they had previously. They increased sales as well as margins on new and pre-owned homes.

This not to be missed panel will be moderated by MHProNews and MHLivingNews Publisher L. A. ‘Tony’ Kovach.

LATonyKovachMHProNews-com-

L. A. ‘Tony’ Kovach addressing industry professionals in an educational session.

At 2:30p, Kovach takes center stage with a deep dive into solutions with his presentation, “Attract and Sell More Qualified Customers Engaging the Public Through Media.”

Interviewed and featured in the likes of the Chicago Sun Times, The Hill and dozens of other mainstream media publications, Kovach’s marketing clients have documented growth by engaging the public through media.

He will share facts, figures, tips, and strategies that can create positive media to attract and sell more qualified customers for your location(s).

These proven tools are the key to attracting and selling more cash and well-qualified credit customers.

AllEyesonTunicaforManufacturedHousingThisWeekcreditTunicaShow2-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Tunica Show.

At 3:40pm, it’s “Lessons Learned – MH Industry Lenders Panel – Manufactured Home Industry Lenders Share Their Tips on Attracting, Selling More Well Qualified Credit Customers, where top industry lenders will share what their top locations do to attract and close customers.

Expect key insights from lenders on programs that you may not currently use or know about.

 

If You Go 

All seminars will be held at the Resorts Casino, in the Magnolia Room. This area is located on the second level of the casino. The SCMHI luncheon will be held on the third level at the Resorts Hotel in the “event center” on Wednesday, March 29th and Thursday, March 30th.

 

Weather in View

AllEyesonTunicaforManufacturedHousingThisWeekcreditWeather-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Weather.

Good idea to take an umbrella this week, with a chance of scattered showers in the forecast.

 

You can find additional details on the show linked here, or by visiting the Tunica Show page: http://tunicashow.com/ ##

 

(Image credits are as shown above.)

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

 

 

AllEyesonTunicaforManufacturedHousingThisWeekcredit-postedtothedailybusinessnewsmhpronewsmhlivingnews

MHProNews, MHLivingNews in Focus: 2017 Tunica Manufactured Housing Show

March 24th, 2017 Comments off
MHProNewsMHLivingNewsinFocus2017TunicaManufacturedHousingShowcreditTunicaShow-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Tunica Home Show.

As the manufactured housing industry prepares for the Tunica Manufactured Housing Show beginning next week, two power packed panels are on the agenda for Tuesday, March 28th.

MHProNews and MHLivingNews Publisher L.A. “Tony” Kovach moderates a panel featuring Manufactured Home Communities star and media-magnet Frank Rolfe, who will be joined by Millennial and third-generation family-owned community partner, Tom Fath, on the “Engaging the Media” panel beginning at 1pm Central.

FrankRolfeMHURVHorizonsPhotoCreditManufacturedHousingIndustryDailyBusinessNewsMHProNews

Frank Rolfe, part of a panel at the Tunica Manufactured Housing Show, credit, MHProNews.

Fath will share his experiences at how they boosted new home sales some 400 percent, using the same lending programs they had previously. They increased sales as well as margins on new and pre-owned homes.

TomFathNewDurhamEstates-ManufacturedHousingIndustryManufacturedHomeCommunity-IndustryVoices-MHProNews-

Tom Fath.

While Rolfe and Fath have different approaches to the media, each uses media to drive their respective narratives – and business.

(Editor’s Note: MHI has not formally responded to an invitation to have their communication VP present on this panel, but the latest indirect indication obtained by MHProNews is that they will not be participating.)

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L A ‘Tony’ Kovach, credit, MHVillage.

Then, at 2:30pm Central, Kovach is front and center with his presentation “Attract and Sell More Qualified Customers Engaging the Public Through Media,” sharing facts, figures, tips, and strategies to create positive media that will attract and sell more qualified customers for your location(s). This is a proven tool to attracting and selling more cash and well-qualified credit customers.

show-me-the-money-tunica-manufactured-housing-show-posted-daily-business-news-mhpronews-com-

Click the image above to learn more. Credit, Show Ways Unlimited, MHProNews.com.

To learn about the manufactured home lenders panel discussion, and more about the education above, click here.

2017 Tunica Manufactured Housing Show takes place at the Resorts & Hollywood Casinos in Tunica, Mississippi. For more information on the show, click here. ##

 

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

MHC Community Expansion Faces Challenges – NIMBY?

February 10th, 2017 Comments off
MHCCommunityExpansionFacesChallengescreditOxfordEagle1-postedtothedailybusinessnewsmhpronewsmhlivingnews

Water Valley residents at a board of supervisors meeting. Credit: Oxford Eagle.

The proposed expansion of a manufactured home community in Water Valley, Mississippi, appears to have hit a snag after a city meeting this week.

According to the Oxford Eagle, city officials said that the city does not have the capacity to provide sewage for the entire project.

In response to questions from multiple attendees at the meeting, Mayor Larry Hart explained the city would provide water, sewage and electricity for the portion of property located inside the city limits, which could accommodate eight to 10 additional manufactured homes in the community, which currently has 12 homes. Four local men purchased the property and property surrounding it, totaling 29.5 acres, last year for development. Two-thirds of the land sits outside the city limits.

At this time we do not want to expand the city’s utility system into the county for a project of this size. We are going to operate within the city limits,” said Hart.

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Mayor Larry Hart. Credit: North Mississippi Herald.

Any extra sewage capacity in the town’s wastewater treatment facility will be reserved for future growth inside the city.”

Mayor Hart told the meeting that the portion of the property that is located inside of the city limits is zoned “R-4”, which is a special residential designation that permits manufactured home communities. City Attorney John Crow added that guidelines for development in R-4 property is very restrictive.

The streets have to be paved, the manufactured houses must be under-girded, it’s got to be landscaped, it has got to be sodded. You can’t just start stacking them in there,” said Crow.

We will enforce that ordinance,” said Hart, responding to questions regarding enforcement.

Last month, the developers said that they were still in the planning phase and did not speculate about the total number of manufactured homes the proposed project would encompass.

They also stressed their goal was to create an affordable, safe and family oriented community and they planned to purchase new manufactured homes for the expansion.

Mayor Hart explained that protocol requires a proposal first be submitted to the city’s planning commissioners.

As of this moment, there is no permit in front of the city for anything. The permit application starts the ball to rolling,” said Hart.

MHCCommunityExpansionFacesChallengescreditOxfordEagle2-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Oxford Eagle.

 

NIMBY?

The proposed development has also created controversy in town.

Multiple residents cited that close to 100 homes could be included in the development at maximum capacity, which presented concerns.

The issue was addressed at a Board of Supervisors meeting, and supervisors discussed the possibility of implementing land use ordinances in the county.

Currently the county does not have zoning or land use ordinances other than a flood plain ordinance.

We may need to consider some future planning,” said Board President Cayce Washington.

Where something like this has to flow through this board before someone can go out there and do this. I don’t think our target is going to be an individual homeowner, it is going to be more for developers.

I support an ordinance that would provide minimum subdivision standards for future development as well as restrictions for properties that have become a blight in the county” said District Three Supervisor Lee McMinn.

I am thinking in terms for future development and for protection of current homeowners.

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Credit: OHRC.ON.CA, under fair use.

The Daily Business News has covered a number of potential NIMBY (Not-In-My-Back-Yard) stories recently, where current residents appear to be working to keep manufactured homes or communities out. Most notable is the case in Aiken, South Carolinawhere Councilman Danny Feagin was quoted as saying “As long as it keeps the mobile home parks [sic] out, I think the folks would be satisfied,” in relation to a proposed rezoning ordinance. ##

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

HUD Code Manufactured Home Production Continues Growth, December Report

February 6th, 2017 Comments off
mharr-hud-manufacturedhousingmonthlyproductionreport-manufacturedhousingindustryshipmentsdailybusinessnewsmhpronews

Credits: MHARR, HUD.

Washington, D.C., February 6, 2017 – The Manufactured Housing Association for Regulatory Reform (MHARR) tells MHProNews that, per official statistics compiled on behalf of the U.S. Department of Housing and Urban Development (HUD), year-over-year manufactured housing industry production increased substantially again during December 2016.

These just-released statistics indicate that HUD Code manufacturers produced 6,995 homes in December 2016, a 23.6 percent increase over the 5,657 HUD Code homes produced during December 2015.

Cumulative industry production for 2016 was 81,136 homes, a 15 percent increase over the 70,544 HUD Code homes produced during 2015.

MHARR has provided cumulative annual industry production figures since 2008 for reference:

  • 2008 – 81,457 homes
  • 2009 – 49,683 homes
  • 2010 – 50,056 homes
  • 2011 – 51,618 homes
  • 2012 – 54,881 homes
  • 2013 – 60,228 homes
  • 2014 – 64,334 homes
  • 2015 – 70,544 homes
  • 2016 – 81,136 homes

MHARR’s analysis of the official industry statistics shows that the top ten shipment states from the beginning of the industry production rebound in August 2011 through December 2016 — with cumulative, monthly, current year (2016) and prior year (2015) shipments per category as indicated, are as follows:

HUDCodeManufacturedHomeProductionContinuesGrowthDecemberReportcreditMHARR-postedtothedailybusinessnewsmhpronewsmhlivingnews

The latest information for December 2016 results in no changes to the cumulative top ten list.

MHARR says that while continued growth in manufactured housing production levels since 2010 is encouraging, given the high and growing demand in the United States for affordable housing and home ownership and other factors, annual production levels should be in the hundreds of thousands of homes.

The full report is linked here.

For the MHProNews preview of the HUD housing numbers, click here.

The Daily Business News also recently covered MHARR’s statement that President Donald Trump’s regulatory orders will have a direct impact on manufactured housing. That report is here. ##

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

A Facebook Sale Turns Into Arrest at Manufactured Home Retailer

October 28th, 2016 Comments off
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Farris Manufactured Homes. Credit: Google.

Deputies in Jones County, Mississippi got some help on an arrest, thanks to Facebook.

When dispatched to a burglary call at Farris Manufactured Homes on Highway 28 in Jones County on October 26th, deputies found two manufactured homes burglarized. In one of the homes it was discovered that a refrigerator had been stolen, according to WDAM.

While investigators were processing the scene, a deputy on patrol stopped a vehicle that was hauling a refrigerator that matched the stolen property description.

Upon questioning the suspect, deputies discovered that he had purchased it from 32-year-old Dantel While of Laurel via Facebook about 30 minutes prior.

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Dantel White. Credit: JCSD.

After further investigation, it was determined that White had used a utility trailer at the Farris manufactured homes burglary that had not been recovered from a September burglary that White had been charged in connection with.

He is currently out on bond for Grand Theft Larceny from the September incident.

White was charged with Commercial Burglary in the Farris incident and turned himself in on October 27th. ##

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

California Takes Prize for Most Expensive Homes

August 12th, 2015 Comments off

santa_cruz_ca___santacruzpictures_slash_rick_puckettThe National Association of Realtors (NAR) informs MHProNews that the median existing single-family home price increased in 93% of 176 metropolitan areas during Q2 2015, up from 85 percent of metro areas in the first quarter. Compared to the second quarter of 2014, home prices rose 8.2 percent.

According to marketwatch, the five most expensive U. S. metro housing markets in Q2 (four of which are in CA) were San Jose, CA where the median existing single-family price was $980,000, followed by San Francisco at $841,600, Anaheim-Santa Ana CA at $685,700, Honolulu at $698,600 and San Diego, $547,800.

The five least expensive metro housing markets in Q2, all east of the Mississippi River, were Cumberland, MD, where the median single-family home cost $82,400, followed by Youngstown-Warren-Boardman, Ohio, $85,000; Rockford, Ill., $94,700; Decatur, Ill., $96,000; and Elmira, N.Y., $98,300.

If wages continue to stagnate and/or rise slower than the prices of homes, manufactured homes will appear more and more as a better option. ##

(Photo credit: santacruzpictures/Rick Puckett-Santa Cruz, CA)

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

Manufactured home builder expanding, creating 200 new jobs

November 5th, 2014 Comments off

manufactured-homes-ready-to-ship-credit=wikicommons-posted-daily-business-news-mhpronews-com-Governor Nathan Deal announced Monday that Live Oak Homes, a factory home builder, will expand to Broxton GA, creating 200 jobs and investing $1.4 million into the project over the next two years.

Forward-looking companies such as Live Oak Homes are excellent additions to our solid manufacturing network,” WTOC quoted Deal to MHProNews. This project underscores how well our existing industries are able to succeed, and I have no doubt that Georgia’s top-ranked business climate will help this company better service its growing customer base.”

We have outgrown our current production facility and feel blessed to have the opportunity to add this new plant in Coffee County,” said Joel Scholten, Live Oak Homes General Manager of Operations.

Live Oak Homes opened its first manufacturing facility in Waycross in 2007. They currently employ 200 at this location. The company says they have 88 retailers across six states: Alabama, Georgia, Florida, South Carolina, Mississippi and North Carolina. ##

(Photo credit: WikiCommons)

HUD Code Production Rises Nearly 20 Percent in July

September 3rd, 2014 Comments off

mh_on_truck__credit_champion_homesAccording to the Manufactured Housing Association for Regulatory Reform, the U. S. Department of Housing and Urban Development (HUD) statistics reveal that production of manufactured homes jumped 18.4 percent in July over July 2013, 5,675 HUD Code homes this year as compared to 4,793 produced in July 2013. On the year, overall production is up 7.1 percent over last year’s totals, 36,350 this year versus 33,926 for last year.

Texas continues to lead the top ten list with shipments since Aug. 2011 (34,553) nearly triple those of homes going to second-ranked Louisiana (12,667), followed by Florida with 8,726 HUD Code homes. North Carolina is fourth with 7,285 homes, then Alabama with 7,147 homes. Mississippi, Kentucky, California, Tennessee and Oklahoma round out the top ten. MHProNews understands the top ten list did not change from last month. MHARR adds a reminder that this continued growth indicates there is no need for costly changes under the Title VI program or expanded energy mandates by the Department of Energy (DOE). ##

(Photo credit: Champion Homes)

Eugene Landy and Samuel Landy will discuss UMH in Jan. 2014

December 23rd, 2013 Comments off

UMH Properties, Inc. (UMH) will be presenting at the 2014 Sidoti & Company’s Annual New York Micro-Cap Conference, Monday, Jan. 13, 2014. Held at the Grand Hyatt in New York City, UMH’s Chairman of the Board Eugene W. Landy and President and CEO Samuel A. Landy will offer an overview of UMH followed by a question and answer session. The presentation will be available on the company’s website afterwards, according to marketwatch.com. Sidoti is a Wall Street provider of equity research specializing in companies with a market capitalization under $3 billion. UMH is a public equity REIT (real estate investment trust) that owns and operates 74 manufactured housing communities comprised of 13,400 developed homesites in seven states east of the Mississippi. MHProNews knows the stock gained +0.65% in trading today to close at 9.30.

(Photo credit: UMH Properties, Inc.)