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Posts Tagged ‘vacancy’

HUD’s Pam Danner shines at elegant Alexander Hotel in Indianapolis amid Optimistic 2014 Manufactured Housing Institute (MHI) Summer Meeting

June 11th, 2014 Comments off

pam-danner-hud-code-manufactured-housing-program-administrator-mhi-2014-summer-meeting-indianapolis-in-alexander-hotel-(c)2014-mhpronews-com-97 industry leaders – plus staff, friends and family – came to the Alexander Hotel in Indianapolis, IN June 8-10 for the 2014 Manufactured Housing Institute (MHI) Summer Meeting. The new manufactured home program director at HUD, Pam Danner, was featured on the final day, in addition to her participating in numerous technical, regulatory and other discussions with industry members.

Danner, an attorney with prior federal and factory-built home industry experience, was applauded numerous times for her statements assuring industry leaders that some of the program backlog caused by the vacancy in the program she filled was being addressed.

The changes Danner spoke about ranged from the symbolic – hanging new framed photos of manufactured homes in their offices – to addressing delayed regulatory issues, to assuring the industry that she would strive to see manufactured housing be increasingly included in HUD’s programs.

The periodic applause from attendees was genuine, rather than polite. Comments from attendees were positive and encouraged at what has already taken place during Danner’s first 10 weeks at HUD. ##

(Photo Credit: MHProNews.com)

High Demand for Manufactured Homes in Manitoba, but limited spaces in MH Communities

August 23rd, 2013 Comments off

credit-cbc-news-Demand for Canada’s version of manufactured housing is rising rapidly in Manitoba, at the very time spaces in provincial land lease communities are scarce. With single family home sales in the region averaging $285,000, a new manufactured home in Manitoba for $115,000 looks very reasonable. So it is no surprise that sales rose 11% in 2012 over 2012, and sales are up some 20% in 2013 over 2012. However, the sad reality of the impact of rent control measures are playing out here in a dramatic fashion. Manufactured home community (MHC) owners are limited in their options for development due to laws that place a 1% annual caps on rate increases. Choking off return on investment options for MHC owners causes some to sell their property for other uses, which then displaces residents who are unable to find a space in another land lease MH Community. One such community is Kingsway Kort in Brandon, where resident Colleen Weisbrodt is one of 140 households forced to move due to the park’s closure. Weisbrodt can’t find a vacancy in another community, which Glendale MHC owner Kenny Choy, explains to CBC News is common. Choy’s community has 230 home sites on 30 acres of land and has been full for 10 years. Current law creates disincentives to develop, in spite of the market demand for affordable manufactured homes. ##

(Video credit: CBC news)

UFPI Moving to Oregon?

January 9th, 2013 Comments off

StatesmanJournal says Universal Forest Products, Inc. (UFPI) may be interested in moving to Silverton, Oregon’s vacant industrial park from Grand Rapids, Mich. City manager Bob Willoughby informs MHProNews the city has been discussing this option with UFPI for several months. The closing of Redman Homes in May, 2008 led to the loss of 160 jobs and the current vacancy of the industrial park. Universal designs and manufactures wood and wood alternative products for the manufactured housing industry and industrial markets.

(Image credit: Universal Forest Products, Inc.)

UMH CEO Sam Landy Holds Forth

May 17th, 2012 Comments off

In a conversation SeekingAlpha writer Brad Thomas has with Sam Landy, CEO and President of UMH Properties, Landy describes the beginnings of UMH in 1969 and how the REIT (real estate investment trust) grew profitably through the years until the recent recession. Landy says the company thought manufactured housing was recession proof. He says although vacancy slid from 90% occupancy down to 77% occupancy in recent years as robo-signing and other frailities in the housing market led to people buying homes they could not afford, the company stayed liquid by investing in other REITs “through the terrible years of 2008 and 2009.” He says you buy when other people are selling, and you do not buy as much when others are buying. MHProNews.com has learned UMH owns a portfolio of over 40 MHCs comprised of 9,000 home sites in New York, Tennessee, New Jersey, Ohio and Pennsylvania. Click here for the full interview.

(Photo credit: UMH Properties)

Different Takes on Housing Market

May 10th, 2012 Comments off

David Stiff, chief economist at Fiserv, a financial analytics firm, forecasts housing prices will begin rising later this year and increase four percent a year for the next five years. CNNMoney says according to the National Association of Realtors (NAR), around half of 146 metro housing markets surveyed indicated a price increase, as the median price of a home fell 0.4 percent for the first quarter 2012 versus Q1 2011. NAR adds the national inventory of homes has dropped 22 percent compared to the first quarter of last year, which should slowly drive prices higher. RealtyTrac, which markets foreclosures, states another impetus pushing home prices up is banks choosing short sales over repossessions. Property that’s repossessed often goes through a long vacancy during which time the house can deteriorate and lose value. Additionally, repossessed homes sell for 25-50 percent below conventional sales.

(Image credit: MoneyControl)

MHCC: Invitation to Serve

December 16th, 2011 Comments off

MHProNews.com has learned the U.S. Department of Housing and Urban Development (HUD) has issued an announcement asking for nominations, with approval of the Secretary, to serve on the Manufactured Housing Consensus Committee. Consensus Committee members serve for a three-year term up to two terms. The 21 voting members are appointed to serve in one of three member categories: 1) Seven producers or retailers of manufactured housing; 2) Seven members representing consumer interests; and 3) Seven general interest and public official members. Scheduled to be published in the Federal Register Dec. 16, 2011, the document states, “To be considered for appointment to a position of an MHCC member whose term expires Dec. 30, 2011, the nomination should be submitted by Dec. 15, 2011. Nominations not selected for appointments to a current vacancy will be retained for two years and may be considered for vacancies as they arise during that period.”

(Graphic credit: Housing and Urban Development)

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