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Posts Tagged ‘three times’

Zoning Changes on Tap for Manufactured Housing

September 27th, 2013 Comments off

A new proposal from the Columbus Junction (Iowa) Planning and Zoning Commission to the city council would create a manufactured housing (MH) district, and delete MH from R-2 and R-3 residential districts. According to muscatinejournal.com, current ordinances require any MH outside of a community to be placed on a permanent foundation and converted to real estate. The proposed map will be presented at the Oct. 9, 2013 public hearing. MHProNews understands before the changes can go into effect they must be read and passed three times by the city council.

(Photo credit: Pine Grove Manufactured Homes)

Improving Markets Index Slips Slightly

August 6th, 2013 Comments off

The National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) for August lost eight markets from the listing in July, dropping to 247 metropolitan areas that show improvement, but three times the number included one year-ago August. The index measures job growth, home price appreciation and single-family housing permit growth, areas that must show improvement for six consecutive months before a metro area can be included on the list. NAHB Chairman Rick Judson says, “In all, 244 metros that were listed as improving in July retained that status in August, and this is an encouraging sign of the continuing housing recovery.” As MHProNews has learned, nearly 70 percent of all U. S. metro areas are represented on the list which includes 49 of the states and the District of Columbia.

(Photo credit: mattheafey)

Housing Market Slips Month-over-Month, but Flourishes Year-over-Year

July 8th, 2013 Comments off

A total of 255 metropolitan housing markets across 49 states and the District of Columbia have remained on the National Association of Home Builders/First American Improving Markets Index (IMI) for July, down from the 263 areas that ranked in June, but over three times the number listed in July 2012. Based on continued improvements in housing permits, employment and house prices for six consecutive months, NAHB Chairman Rick Judson says, “This is the sixth straight month in which at least 70 percent of all U.S. metros have qualified for the Improving Markets Index. The relative stability of the IMI is representative of the broad recovery underway, which is much more extensive than what we were looking at one year ago.” NAHB’s Chief Economist David Crowe expects expansion of the housing market to continue through the year despite shortages of labor, lots, credit and some building materials, as MHProNews has learned.

(Image credit: HousingWire)

Housing Markets Improving

June 6th, 2013 Comments off

According to the National Association Home Builders (NAHB)/First American Improving Markets Index (IMI), five U. S. housing markets have been added to the list of those returning to health in June. Based on housing permits, employment and house prices that have been improving for six months, “This is the fifth consecutive month in which the IMI has designated more than 70 percent of U.S. metros as improving,” observed NAHB Chairman Rick Judson. As MHProNews has learned, twenty-nine markets were added to the IMI while 24 markets fell away from the list. NAHB Chief Economist David Crowe says, “The number of improving markets is now more than three times what it was in June 2012.”

(Photo credit: knoxnews)

Western ND Housing Shortage: Another Consequence

November 27th, 2012 Comments off

As we have reported in numerous stories over the past two years, housing continues to be in short supply in western North Dakota where the Bakken oil formation has drawn thousands of workers, many of them oilfield workers living in modular man camps. As originationnews tells MHProNews, community banks in the area have grown three times faster than the national average in two years, and in order to keep up with growth, some banks sought permission from the state banking regulators to buy homes for new employees. Regulators approved the request providing the banks sell their properties when no longer needed. One bank initially asked for approval to spend up to $300,000 for a home, but had to up that to $400,000 because the housing shortage is so critical.

(Photo credit: Alana Semuels/LATimes–Watford City, ND)

Making Dollars from Distress

March 26th, 2012 Comments off

Although it requires twice the manpower, takes three times longer, and nearly doubles the cost to deconstruct a home than demolish it, a Cleveland company, A Piece of Cleveland, and the Cleveland Institute of Art are conducting a test program to make furniture, mill work, and other items from the ceiling joists and flooring of some of the 12,000 abandoned homes in the city. Cleveland says the goal is to make the process profitable. On average 40 percent of the materials in vacant homes, most already stripped of wiring, plumbing, fixtures, and other sale-able items, are re-usable. “The theory behind deconstruction is that even though it is more expensive to do — because it is more labor intensive — that you will reclaim and salvage enough usable material and resell it, and that that income will offset the additional expense,” said Frank Ford, senior vice president for research and development at the nonprofit Neighborhood Progress Inc. (NPI). The city has received $780,000 in federal grants to subsidize the difference between demolition and deconstruction, giving jobs to many ex-cons, veterans, and other challenged job-seekers. MHProNews.com has learned that Cleveland is one of the top ten metropolitan markets in which it makes more sense to buy a home than rent one.

Bernanke: Aggressively Avoid Foreclosure

January 5th, 2012 Comments off

MhproNews.com has learned from the HuffingtonPost that Federal Reserve Chairman Ben Bernanke says foreclosure is not a good way to deal with delinquent mortgage holders because it leads to deteriorating houses and depression of area home prices. In a report sent to the housing affairs and banking services committees of both houses of Congress, Bernanke says more effort needs to be made in refinancing seriously delinquent loans. He says the social and financial effects of foreclosed, abandoned homes becomes a long-term “deadweight loss” that negatively impacts the neighborhood in addition to depressing home values. Noting that housing prices have fallen 33 percent since 2006 with a $7 trillion loss in household wealth, he says mortgage servicers need to “aggressively” find an alternative to foreclosure. One option is to return the property to the creditor and allow the onetime homeowners to remain as tenants. The foreclosure process now requires 674 days to complete, three times what it took in 2007.

(Photo credit: Jillian Berman/Getty)

FEMA Homes: Drafty in ND

December 29th, 2011 Comments off

Following the floods last Spring that destroyed many Minot, North Dakota, homes, the Federal Emergency Management Agency (FEMA) brought in manufactured housing for hundreds of residents. Although the winter so far has been mild, residents say their heating bills are two and three times more than in their original homes, according to KFYRTV. Nathan Routhier, who is repairing his flood-damaged home, says it is warmer than his temporary FEMA home, which has a cross-wind. Kevin Martin, of Ralph’s Plumbing and Heating in Minot, says the higher electric bills are partly due from heating the tape that protects the outdoor water pipes. Noting this may not be sufficient to keep the pipes from bursting, he says, “It’s hard to take something of that nature, plug it into the prairie and expect it not to freeze. I don’t think it can take extreme cold.” FEMA Federal Coordinating Officer Deanne Chriswell, while noting the temporary homes are not as comfortable as an actual house, believes they will endure the ND winters, but offers a phone number in case the pipes fail.

(Photo credit: KFYRTV)