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Posts Tagged ‘Nashville’

Publication Flip-Flops on UMH, NPR Effect in Play

January 27th, 2017 Comments off
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The Shady Hills Community. Credit: UMH.

UMH Properties (NYSE: UMH) celebrated its 50th anniversary at the New York Stock Exchange last week, including ringing the closing bell.

At the same time, a Nashville publication that had previously offered the company praise was telling a very different story.

According to the Tennessean, residents at UMH owned properties Holiday Village and Shady Hills in East Nashville say that they have been bullied, hit with fines, and then evictions.

The residents, who happen to be Latino, argue the evictions are discriminatory.

People really are being targeted,” said Erin Coleman, a Nashville-based lawyer who has been advocating for the residents.

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Erin Coleman. Credit: LinkedIn.

It brings to light how we in America keep poor people poor.

UMH says that they have done nothing that’s against the law.

Race, or any other protected class, is never a factor in any of UMH’s landlord practices,” said UMH company spokesman Ken Frydman.

UMH strives to provide quality affordable housing. Enforcement of rules and regulations is necessary to maintain quiet and peaceful communities for all residents.

While community operators and landlords are not required to give a reason to month-to-month tenants by law, Frydman shared that at least five of the families evicted were in violation of community rules and regulations, including animal cruelty, drug possession, illegal poultry farming, illegal subleasing and refusals to fix or remove non-operating cars.

A Copycat?

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Shady Hills residents Cesar Melchor and wife Maria Gomez. Credit:  Tennessean.

The article from the Tennessean appears to be a copycat of a well publicized broadcast and published article from NPR entitled, “With Few Legal Protections, Nashville Mobile Home Park Residents At Risk Of Losing It All,” (see their article, linked here), which MHProNews pointed out had numerous issues and misinformation.

Many manufactured home professionals and homeowners believe that they are pushing an agenda, and ignoring facts that contradict their narrative.

This proves problematic for the Tennessean, who in December published a positive article on UMH growth in Nashville, in which residents of UMH properties pointed to how living there changed their perceptions on manufactured housing.

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Frankie Robinson. Credit: Tennessean.

I was just thinking of trailer trash and it just wasn’t for me,” said Shady Hills resident Frankie Robinson.

I like having neighbors who visit each other and care for their homes at Shady Hills.

It’s a community of mobile homes [sic] and the people who live there. It’s become a neighborhood.

Some Shady Hills residents say that they are being unfairly targeted because they have older homes, and with the demand for housing UMH is kicking them out and making a profit by doing so.

All the people getting kicked out are the ones who own the trailers [sic],” said resident Jiovanny Fructuoso.

They said it’s ‘for the good of the community.’ Well, what’s wrong with me?

For every new trailer [sic] you see, someone was evicted,” said resident Victor Magadon, pointing at new manufactured homes in the community.

Per the Tennessean, Magadon, his wife and their five children received an eviction notice that said they had 30 days to move their home and vacate the premises.

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Sam Landy. Credit: MHProNews.

In comments on the NPR story, UMH Sam Landy says that quality has dramatically improved at Shady Hills and Holiday Village.

UMH has improved the lives of well over 1,000 manufactured home residents in the Nashville area. We have significantly upgraded communities,” said Landy to MHProNews.

Our residents overwhelmingly support the companies actions.

Landy also said UMH is preparing a detailed response to the NPR and Tennessean articles about their Nashville locations. MHProNews will provide our readers with that response as soon at it is made available.

As Daily Business News readers already know, UMH is a real estate investment trust (REIT) that owns and operates 98 manufactured home communities (MHCs) in seven states east of the Mississippi, composed of 17,800 developed home sites. ##

(Editor’s note: UMH is one of the manufactured housing industry connected stocks tracked every business day on MHProNews’ Daily Business News

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MHProNews Sponsor, for more information, click the banner above.

exclusive market report.  For the most recent closing numbers on industry connected stocks, click here.

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RC Williams, for Daily Business News, MHProNews.

RC Williams, for Daily Business News, MHProNews.

UMH Properties Celebrates Major Milestones, Recent Growth and Announcements

January 12th, 2017 Comments off
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Credit: MHProNews.

A big day is coming up for UMH Properties, Inc. (UMH: NYSE).

The company tells the Daily Business News that it will celebrate its 50th anniversary at the New York Stock Exchange (NYSE) on January 19th.

The Company is honored to celebrate its 50th Anniversary at the NYSE. We will be having our quarterly Board Meeting there, as well as a dinner reception attended by many of UMH’s close partners whose help has been instrumental in our long-term success,” said Eugene W. Landy, Chairman of the Board of UMH.

UMH is one of the oldest publicly-traded REITs in the world, and as the Founder of our Company, I could not be prouder of our many achievements. UMH’s total-return performance ranked third of all 180 REITs in 2016. The Company is very well positioned for continued outperformance in the years ahead.

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Eugene Landy. Credit: Google. For an in-depth video interview with Eugene Landy, click here.

UMH has seen its stock price has rise recently on positive growth news, including expansion plans in three manufactured home communities in Nashville, Tennessee to accommodate more than 550 new homes. That story is linked here.

Nashville is a wonderful market for us,” said Jeffrey V. Yorick, UMH’s vice president of engineering. “It’s the economy in Nashville — employers moving to the area, redevelopment is occurring all across the region.

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Credit, the Tennessean.

UMH CEO Sam Landy also commented recently regarding NPR’s latest broadcast and published article dubbed “With Few Legal Protections, Nashville Mobile Home Park Residents At Risk Of Losing It All,” (see their article, linked here).

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Sam Landy. Credit: MHProNews. For a Cup of Coffee with Sam Landy, click here.

In it, NPR paints a radically different picture than what the USA Today network affiliate, The Tennessean did less than a month ago regarding the UMH expansion (see that article, linked here). “UMH has improved the lives of well over 1,000 manufactured home residents in the Nashville area. We have significantly upgraded communities,” said Landy.

Our residents overwhelmingly support the companies actions.”

Sam Landy also said his firm is preparing a detailed response to the NPR article about their Nashville locations.

As Daily Business News readers already know, UMH is a real estate investment trust (REIT) that owns and operates 98 manufactured home communities (MHCs) in seven states east of the Mississippi, composed of 17,800 developed home sites. ##

(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.

UMH Draws Publicity, Stock Price Spikes…Coincidence?

December 12th, 2016 Comments off
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Sandy Hills residents Cesar Melchor and wife Maria Gomez. Credit: The Tennessean.

UMH Properties (NYSE: UMH) is seeing significant growth in Nashville, Tennessee and hopes to shed the “trailer park” perception around manufactured housing.

Could positive publicity also be fueling a rise in stock prices for the Freehold, New Jersey based company?

With the sharp rise in demand for housing, UMH wants to expand three Nashville area manufactured home communities to accommodate more than 550 new manufactured homes, according to the Tennessean.

On December 8th, the Metro Planning Commission recommended that the Metro Council approve UMH’s request for a rezoning to allow 56 more homes at its 130-home Trailmont community in Goodlettsville. Early next year, the commission is scheduled to take up additional requests.

Nashville is a wonderful market for us,” said Jeffrey V. Yorick, UMH’s vice president of engineering. “It’s the economy in Nashville — employers moving to the area, redevelopment is occurring all across the region.

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Frankie Robinson. Credit: The Tennessean.

At Sandy Hills Mobile Home Park, resident Frankie Robinson has changed her tune about manufactured housing.

I was just thinking of trailer trash and it just wasn’t for me,” said Robinson. “I like having neighbors who visit each other and care for their homes at Shady Hills.

It’s a community of mobile homes [sic] and the people who live there. It’s become a neighborhood,” said Robinson.

Gail Newman, a 38 year resident at UMH’s Holiday Village, says she’s seen sharp improvements since UMH took over the property and has grown tired of the stigma.

The thing that makes me mad about the news is when they refer to a home in a mobile park [sic], they call it trailer,” said Newman.

A trailer is pulled by a hitch and travels. A mobile home [sic] is on a foundation and it’s secured. You don’t move it.

As industry professionals know, the irony is that Newman meant manufactured home, not mobile home. But media reporters, editors and others speaking about HUD Code manufactured homes often get that wrong too, unaware that there have been no mobile homes built in the U.S. for over 40 years.

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The NFPA’s report, found as a download at the story linked from the image above, quite correctly states that a manufactured home is not a motor home or a trailer, and although it is often called a “mobile home,” it is not that either.”

Growth Equals Growth? 

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UMH 1 year look. Credit: Bloomberg.

According to Equities, UMH stock hit a new 52-week high on December 9th, hitting a peak price of $13.71. Shares closed at $13.26 for the day. The company now has a market cap of $380.15 million.

The price of UMH stock has risen over 38 percent since May 6, and has outperformed the S&P500 by over 29 percent.

Sam Landy. Credit: Carisa Chappell.

The Daily Business News has covered UMH recently, including better than expected investor sentiment in the company, and their announcement of a new loan with Wells Fargo.

We are very pleased with our relationships with Wells Fargo Bank and Freddie Mac,” said UMH president and CEO Sam Landy.

We appreciate their continued support. Not only will this new loan save us approximately $350,000 annually on our interest expense, but it demonstrates the increasing value of our communities and the financial flexibility of our company, allowing us to further execute our long-term growth strategy.

For more about Sam Landy, check out our “A Cup of Coffee… segment with him linked here.

As Daily Business News readers already know, UMH is a real estate investment trust (REIT) that owns and operates 98 manufactured home communities (MHCs) in seven states east of the Mississippi, composed of 17,800 developed home sites. ##

(Editor’s note: The letters “SIC” used in brackets (example: [sic]) after a copied or quoted word that appears odd or erroneous, is used to show that the word is quoted exactly as it stands in the original, even though it is used in error.  Example: A HUD Code home called a mobile home [sic] that is placed in a mobile home park [sic] is properly called a manufactured home, and a manufactured home community, respectively.

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Steve Duke, LMHA.

The terminology matters, because the terminology defines the construction standard,” said LMHA’s Steve Duke, in a story, linked here.)

(Image credits are as shown above.)

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RC Williams, for the Daily Business News, on MHProNews.

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

Two of the Top Five Single-family Housing Markets Live in Texas

April 16th, 2015 Comments off

top_5_markets__auction_dot_com__in_housingwire_april_2015Collating data on rising home prices, affordability, strong housing demand, and excellent economic demographics, housingwire tells MHProNews Auction.com has chosen the five top single-family housing markets.

Auction.com Executive Vice President Rick Sharga says, “As the U.S. housing market has continued to recover from the Great Recession, we’ve seen significant regional variances in terms of both price appreciation and sales volume. Earlier in the recovery, most of the growth came from markets that had suffered the biggest declines during the housing bust, but what we’re seeing today is more in line with fundamental economic trends: markets with the best job growth and population growth are recovering most quickly.

Denver tops the list with a 9.2 percent home price growth year-over year and an increase in employment of 4.3 percent in one year. The number two spot is claimed by San Antonio, with its four percent unemployment rate, having added 8,000 jobs in the last two months and a population growth of two percent in 2014.

The third position belongs to Nashville where employment has grown in 12 of the previous 14 months, home sales have risen four percent in the last 12 months and home prices have risen 6.2 percent in the last year. Number four is Fort Lauderdale, which has seen employment grow 4.2 percent over the past year, one of the fastest growth rates of major metro areas, and median home prices have risen 7.8 percent during the last 12 months.

Rounding out the top five is Dallas, having added 20,000 new jobs in the past two months—total employment has increased 4.5 percent in the last year—and home sales are at their highest level in seven years. Home prices have risen 26.4 percent in three years, 7.3 percent in the last year alone. It should be noted that two of the top five are in Texas, which has consistently been the top shipment state for manufactured homes since the production recovery began in August, 2011. ##

(Graphic credit: auction.com/housingwire)

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

Even with Thunderstorms, Tunica Pre-Show Estimates Exceeded

March 30th, 2014 Comments off


2014-tunica-manufactured-housing-show-entrance-south-central-manufactured-housing-institute-harrah's-convention-center-tunica-msWhile weather and other factors kept some potential attendees away, preliminary figures from Show Ways Unlimited and the registration company indicted that a total of 2195 professionals attended the 2014 Tunica Manufactured Housing Show.  Pre-Show estimates on total professionals expected at this year’s event were for 2100 total.

The timing of Ceasar’s Entertainments public announcement on March 26 that their Harrah’s Tunica property would be closed may have confused some potential attendees.

Sources close to the Show speculated that the property may still be sold prior to the June 2 planned closing date for the casino and hotels.  If indeed the property closes, a few ideas were floated for new potential locations for the show, including a new all indoor location in Nashville, TN.

One way or another, this March Manufactured Housing Show is expected to continue on.

Post show commentary and videos are expected in April’s Featured Articles on MHProNews, on the Industry Voices guest blog and on the Cutting Edge blog. ##

(Photo credit: MHProNews.com)

Five U. S. Cities with Expected Top Housing Market Growth

December 30th, 2013 Comments off

CNNMoney has selected several cities where the housing market looks brighter than in other cities for the coming year. Oklahoma City has an unemployment rate of just 5.3 percent as of Nov., 2013, and home values have declined a mere one percent since 2009. Trulia reports 75 percent of homes that are for sale are accessible to homebuyers of middle-income means.
With a limited amount of available land, Seattle is expected to become a hot market next year. Although it was hit hard by the recession, home prices have rebounded and the area has recovered more quickly from record foreclosures than other metro areas. Additionally, job growth has been stronger than in most U. S. cities.
Home to high-tech firms and several top-notch universities, the population of Raleigh, North Carolina grew from 2009 to 2012 at an annualized rate of 2.3 percent, ranking second among the top ten metropolitan areas with the largest population growth. Trulia reports 69 percent of the homes for sale are affordable to middle-income Americans, as MHProNews has been informed.
Having spent $623 million on a downtown convention center complex, Nashville, Tennessee has been chosen by both The New York Times and Trulia as having a burgeoning housing market. According to the Greater Nashville Association of Realtors, closings rose 18.9 percent in the past year, and the median price for a single family home increased to $195,000 from $179,900 during the year.
Finally, both Zillow and Trulia have chosen Salt Lake City as a burgeoning housing market because Utah’s unemployment rate in October was 4.6 percent, one of the lowest in the country, and well below the seven percent national rate.

(Image credit: etftrends.com)

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)