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Sunday Morning Weekly Recap – January 4, 2014, to January 10, 2014

January 11th, 2015 Comments off

sunday-morning-weekly-manufactured-home-pro-news-recap-1-4-to-1-10-2015-mhpronews-com-The first full week of January started off a bang, and the news that touches the manufactured housing world is found in all of its headline glory in the daily recaps that follow.

Your previous weekly recap for Sunday January 4th, is found linked here. In the headlines that follow, you’ll find legal news, MH stock reports, the latest word on super-energy saving manufactured homes, purchases/problems/pleasant events with MHCs and much more.  Every headline is a link to that story. Grab that coffee, tea or other drink and dive in…

Monday, January 5, 2014

Nadeen Green says Disparate Impact case could rock MH & MHC owners, managers’ world

Death of Child in Factory Built House Fire Inspires Increased Education on Fire Safety

Caddis Capital Closes on $10.8 Million Purchase of two 55+ Manufactured Home Communities

Tuesday, January 6, 2014

ELS, SUI with slight gains; S&P Falls Fifth Straight Session

MH Community Owners Class Action suit seeks damages from state agency

Senator Edward Brooke (R-MA), Fair Housing Law Champion, Dies at 95

Wednesday, January 7, 2014

MHCV rises, S&P 500 musters first gain of 2015, snaps 5-day losing streak

Water Problems Persist at Ohio Manufactured Home Community

Balanced Reporting? MS Tornadoes, Stick Built and Manufactured Homes

The Tiny House Trend – Possible New Market for Manufactured Housing?

Deer Valley – Manufactured and Modular Homebuilder – CEO Retires

Thursday, January 8, 2014

MH stocks rise, Dow soars 323 points today, rekindling investors’ hopes

Lesli McCollum to Fill Jason Boehlert Vacancy at MHI

Manufactured Home Shipments Dip in November

David Einhorn – Is American Business as big a gamble as Poker?

Friday, January 9, 2014

President Obama and Julian Castro tout lower FHA premium

Communities mixed, MHCV slips, Shakin’ Paris Shakes the Markets, Majors drop

Authorities Prevent Residents’ Association From Raising Their Own Site Rent

Wall Street Scopes out ELS’ strong performance this week

San Antonio Mission Trails MH Park Closure deadline looms

Saturday, January 10, 2014

Latest Daily Business News Redesigned 21st Century Manufactured Homes Maximize Energy Savings

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(Photo Credit: MHProNews)

sandra-lane-daily-business-news-mhpronews-com-75x75-Article Submitted by Sandra Lane to – Daily Business News- MHProNews.

 

UMH Properties, Inc. Announces New Acquisition

November 3rd, 2011 Comments off

UMH_Properties_Logo posted on MHMarketingSalesManagmentMHProNews.com learned that UMH has recently announced it has closed on the acquisition of Clinton Mobile Home Resort, a 116-site manufactured home community situated on 24 acres, located in the City of Tiffin, County of Seneca, in the State of Ohio, for a purchase price of $3,450,000.  UMH is a publicly traded Real Estate Investment Trust (REIT). With this purchase, UMH now owns thirty-nine manufactured home communities consisting of approximately 8,860 land lease home sites, located in New Jersey, New York, Pennsylvania, Ohio and Tennessee. UMH owns over 500 acres of land for the development of new sites.

UMH has a wholly owned subsidiary, UMH Sales and Finance, which sells manufactured homes into its communities, which is licensed by the Pennsylvania Department of Banking, NMLS 200331. Samuel A. Landy, President, stated, “We are pleased to announce the acquisition of this 98% occupied community.  The operation of Clinton Mobile Home Resort will fit in nicely with our existing Ohio communities.  This well-located, age 55 and older community is a welcome addition to our growing portfolio.” In our Daily Business News market report for Wednesday, the Freehold, N.J. based firm lead gainers for the day, closing up sharply at 10.02, +0.82 (+8.91%).

(Graphic Credit: UMH Logo)

 

200+ site manufactured home community may be sold and redeveloped

October 5th, 2011 Comments off

Gaslight_Village_-_credit_MHVillageLJWorld reports that Gaslight Village Mobile Home Park in Lawrence, KS is under contract to be sold for redevelopment, a decade after the community was split to allow construction of a Best Buy, Home Depot and other commercial development northeast of 31st and Iowa streets. Edwardsville-based Mid-America Manufactured Housing Communities, which owns the manufactured home land lease community, has distributed notification letters to residents of the 148 homes at the park, which has 241 spaces. “The rumors are flying wildly again,” said Tom Horner, corporate secretary for Mid-America. “There is a potential buyer out there that is looking at buying it. We just wanted to be honest with our residents and tell them the truth.” While Horner would not comment on the proposed use, citing a confidentiality agreement, city officials have been contacted by a company that envisions a project “along the lines of a residential use,” said Scott McCullough, the city’s planning director. This may include single family, or multi-unit projects, including townhomes, condos or apartments. Relocation assistance would be provided to existing residents, if the sale and land use goes through. As Gaslight Village’s owners say in their letter to residents: “We will keep you informed as the potential sale progresses during the next several months.”

(Photo credit: MHVillage)

Crime Free Training offered by City and County

September 15th, 2011 Comments off

drug free crime free wikimedia commonsTahoeDailyTribuine reports that the Douglas County Sheriff’s Office and South Lake Tahoe Police Department will offer a free Crime Free Multi-Housing Program.   The training program is geared to local multi-family (apartment) housing, manufactured home communities, vacation rental owners or managers, and property management companies. This innovative, law-enforcement-based crime prevention solution, was developed in 1992 by Tim Zehring.  Zehring retired as a 22-year veteran of the Mesa Arizona Police Department and Executive Director of the International Crime Free Association.  The training will be offered from 8 a.m. to 5 p.m., Oct. 11, at the Lake Tahoe South Shore Chamber of Commerce at 169 Highway 50, 1st Floor Conference Room in Stateline.  Pre-Registration email Melanie Raulston-Arnold at laketahoecrimefreeprograms@msn.com or call 775-790-6694.

(File photo credit: Wikimedia Commons)

Wells Fargo closes loans for 6 communities for $50 Million

September 12th, 2011 Comments off

Tony Petosa Wells Fargo Nick Bertino 123 people and Wells Fargo LogoMHProNews.com has learned that Wells Fargo Multifamily Capital’s Tony Petosa and Nick Bertino have reportedly closed 50 million in loans on 6 manufactured home community properties in the last 90 days.   The six properties are located in four states across the country and total 1,661 sites.  These included, Club Marina, a 171-site MHC located in Bay Point, California, with a loan amount of $9,200,000. Pleasant Valley, a 300-site MHC located in Las Vegas, Nevada, with a loan amount of $7,100,000.  Orange Village, a 150-site MHC located in Orange, California, with a loan amount of $7,500,000. “With our Fannie Mae, conduit, and balance sheet lending products, we offer a range of dependable financing programs. In recent years we have shown our commitment to commercial real estate and our clients by being a dependable lender that can execute during volatile periods in the financial markets” said Nick Petosa.  Wells Fargo has originated nearly $5 billion in manufactured home community loans since 2004.  Wells Fargo has $1.3 trillion in assets and some 275,000 team members across their 80+ businesses.

(Editor’s note: MHProNews internal site statistics reveals that Wells Fargo employees are among the heavier users of our online trade media platform.)

(Photo credit: Tony Petosa (r) Nick Bertino (l) 123people and Wells Fargo Logo)

AG gets injunction against manufactured home community owner

September 12th, 2011 2 comments

G:\MH Merchandiser.com\Daily Business News\Massachusetts_Attorney_General_Martha_Coakley_Wikimedia_Commons.pngLegalNewsline reports an update on a story previously covered by MHProNews.com, that  Massachusetts Attorney General Martha Coakley announced she had obtained a preliminary injunction prohibiting the owners of a manufactured housing community from continuing alleged intimidating sales tactics. Morgan RV Resorts LLC and its sales team allegedly used intimidating tactics to charge homeowners excessive fees for a questionable membership club in order to stay in their homes at the Peters Pond housing community. Suffolk Superior Court Judge Paul E. Troy found that the state’s allegations that the defendants violated the Consumer Protection Act held merit and granted the preliminary injunction. Last month, Coakley filed an enforcement action against Morgan and its sales team for allegedly violating the Massachusetts Manufactured Housing Act and the Consumer Protection Act.

(Editor’s Note: Your link to the previous story for added details is here.)

(Stock photo credit: Wikimedia Commons)

County purchasing manufactured homes for employees

September 9th, 2011 Comments off

Scott Busching Williams County Sheriff WillistonHeraldWillistonDailyHerald reports that Williams County Commissioners (ND) have unanimously approved the purchase of four manufactured homes for use as housing for county employees.  Williams County Sheriff Scott Busching explained ongoing efforts to secure housing for county employees during the meeting.  “We’ve so far purchased four mobile homes in Cimarron Heights,” Busching said, who has served on a housing committee to allow the county to help maintain current employees and hire new ones.  Two of the homes cost $75,000, one cost $72,000 and the fourth totaled $69,000. “Two to three years ago I’d say government shouldn’t ever be allowed to get into housing,” Busching said. “These are exceptional times that call for exceptional measures.” Busching said the homes are not free, that employees will pay rent based on their salaries. Busching said spending on the homes is not an investment in housing but “an investment in staff.”

(Photo credit of Scott Busching: WillistonHerald)

UMH bags 3 in Tennessee, MHCs that is

September 9th, 2011 Comments off

UMH_Properties_LogoCostar reports that UMH Properties, Inc. acquired three manufactured home communities.  Trailmont is located at 1341 Dickerson Pike in Goodlettsville, TN; Shady Hill located at 1508 Dickerson Pike in Nashville, TN; and Countryside Village at 200 Early Rd. in Columbia, TN, for $13.3 million, or about $19,200 per home site. The three manufactured home communities consist of 110 acres and total 693 combined home sites. The properties are located in the West, Rivergate/Hendersonville, and Maury County submarkets.

(Editor’s note: UMH Properties is a publicly traded company tracked by the market reports in our Daily Business News here at MHProNews.com.)

(Graphic credit: UMH Logo)

New March date attracting strong support for MH Show

September 7th, 2011 3 comments

Great Southwest Home Show 2012  QuikTrip Center GSWHS Golden Oil Man Expo Square Tulsa OKSources tell MHProNews.com that momentum is building for the return of the 2012 Great Southwest Home Show.   “The Great Southwest Home Show gave us a great platform to introduce and sell our Rocky Mountain Series.” said Howard McGirt, General Manager  of Southern Energy Homes of Texas.  Kurt Kelly of Mobile Insurance said, “At the Great Southwest Home Show, we have a chance to see and visit with many of our clients, as well as meet with other industry leaders from across the country.”  Deanna Fields, Executive Director for the MHAO stated: “The Great Southwest Home Show is excited once again to have MHMSM.com (MHProNews.com) help promote the largest inside home show in the Southwest.  MHMSM.com is a  valuable tool to get the message out about our show and new show dates, March 1-2 (Trade Days) and March 3-4 (Public Days). 2012 “  When asked by MHMSM about commitments for show spaces, Field’s replied: “Already we have  Legacy Housing, Oak Creek, American Homestar, Palm Harbor, Sunshine, Southern Energy of Texas, Fleetwood Homes, Skyline Homes and Southern Homes eager to participate. “  Retail attendees have said that the date earlier in the season helps them select the right homes for the Spring/Summer selling season.

(Editor’s Note: More information on the 2012 Great Southwest Home Show can be found at a press release to MHMSM.com at this link.)

(Photo Credit: MHProNews.com)

 

GE completes 8+ Mil Refi for Manufactured Home Community

September 7th, 2011 Comments off

TheOaks Amicorps -DeLand FLNewsJournalOnline reports that Florida-based Amicorp Inc. secured an $8.25 million dollar refinance on their 207 home-site manufactured home community, named The Oaks. Amicorp’s plans for The Oaks include having new homes built and installed on 7 vacant sites, as well as other improvements.  “We were able to get a better deal with a lower interest rate. We want to make some general park improvements, and add some homes, slowly, as the market comes back,” said Marie Jefferys, an officer with DeLand-based Amicorp Inc.  Amicorp owners, Kent Titcomb and his wife Leyvi, secured the refi from Chicago-based General Electric Capital. The cash infusion paid off the remaining $5.47 million balance on an old mortgage, according to Volusia County records.  The Oaks was transferred to a newly created subsidiary, The Oaks-Amicorp Inc.  Creating the single-purpose entity as the community’s new owner was a loan requirement, said DeLand attorney Kirk Bauer who represents the Titcombs.  The Oaks was built in 1989 with site fees of about $488 a month, according to several online information. Site fees includes cable TV, lawn watering and mowing, night security and use of the community amenities that include a pool, hot tub, tennis and shuffleboard courts and a clubhouse.

(Photo credit: Amicorp)