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Equity LifeStyle Properties Inc. (ELS), a real estate investment trust specializing in manufactured housing communities, beat analysts' expectation for the 2009 third quarter. Thanks in part to a jump in operating revenues from properties to $123.8 million from $108.3 million during the same three months of last year, the REIT reported higher funds from operations (FFO) for the period. FFO climbed to $28.8 million, or $0.82 per share, from $22.7 million, or $0.74 per share, year over year. Analysts had expected FFO to grow only to about $0.77 per share. Income from home sales was up as well, settling at $1.5 million compared to a $0.7 million loss in 2008 third quarter. For the upcoming quarter, ELS is expecting FFO somewhere between $0.60 and $0.70 per share, in line with analysts' predictions of $0.66 per share. For fiscal year 2010, the company's preliminary forecast calls for FFO of $3.39 to $3.59 per share and growth of 1 percent to 1.5 percent in core property revenue compared to 2009. After the financial results were announced on Oct. 19, the REIT's shares rose by $0.65 to close day trading at $45.11.

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From "LifeStyle Properties Q3 Earnings Rise; Tops Estimates; Provides Preliminary Guidance for FY10" RTTNews (10/19/09)

Daily Business News Briefs

Singapore Investors Turn Sights on Yes! Communities for $2B+

Singapore Investors Turn Sights on Yes! Communities for $2B+

MHProNews has learned from The Wall Street Journal that Singapore’s sovereign wealth fund, GIC, is in talks to acquire Denver-based YES! Communities from private-equity firm Stockbridge Capital Group for over $2 billion. Spurred by investors who are seeking to find sources of higher yield in a world of low interest rates, GIC would obtain an...

28 Jun 2016

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American Banking News – Key MHI Staff “Excoriated” for Failing Their Missio…

American Banking News – Key MHI Staff “Excoriated” for Failing Their Mission, Members

With Dodd-Frank, financing and CFPB related issues routinely on the minds of manufactured housing industry professionals, The Daily Business News  has learned from American Banking News the following report on the Manufactured Housing Institute (MHI), which is made available below. “The Manufactured Housing Institute has been leading the campaign t...

28 Jun 2016

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Dodd-Frank Continues to be Batted About

Dodd-Frank Continues to be Batted About

A group of eminent economic scholars, Nobel Prize winners and former senior economic policy officials all signed on to the Financial CHOICE Act, designed to reform Dodd-Frank, and released the following statement: “We support the reform principles that underlie the proposed Financial CHOICE Act which promote higher economic growth without b...

28 Jun 2016

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MHLivingNews says Massachusetts is Smacked with Shortage of Mid-range Homes

MHLivingNews says Massachusetts is Smacked with Shortage of Mid-range Homes

Mary McBrady, executive director of the Massachusetts Manufactured Housing Association (MMHA), noting the shortage of mid-priced housing in Mass., and a plethora of schools and researchers interested in housing policy within the state, says, “We, as an industry, need to be part of that conversation and dialogue.” As in many places, “the middle clas...

28 Jun 2016

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Federal Preemption should Allow the Manufactured Home to be Sited

Federal Preemption should Allow the Manufactured Home to be Sited

Following a story MHProNews posted June 18, 2016 regarding a manufactured home that was sited in Stuttgart, Arkansas in a neighborhood not zoned for MH, city officials were initially told the home was a modular, which would be allowed. Now that the home has been sited, the mayor and two council members do not want […]...

27 Jun 2016

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Deer Valley Skyrockets, while Dow Drops -290 Points, NASDAQ Falls -2.41%

Deer Valley Skyrockets, while Dow Drops -290 Points, NASDAQ Falls -2.41%

In the news from CNNMoney: UK loses perfect AAA rating. Blacks still far behind whites in income, wealth. Mike Huckabee has to pay $25,000 for playing “Eye of the Tiger” song by band Survivor at a rally without permission. New submarine can go 20,000 feet deep. London banks will pay the price of Brexit. Priceline […]...

27 Jun 2016

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Air Force Academy Cadets build Modular homes for Navajo

Air Force Academy Cadets build Modular homes for Navajo

Engineering students at the Air Force Academy in Colorado Springs, Colorado have built modest modular homes for the Navajo Reservation for nearly 20 years. The materials are purchased by the Southwest Indian Foundation, sergeants oversee the labor of the cadets who build the homes from the ground up, using mostly hand tools, over a three-week...

27 Jun 2016

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Twin Cities Trying to Preserve MH Communities as Affordable Housing

Twin Cities Trying to Preserve MH Communities as Affordable Housing

In the wake of the sale of Lowry Grove manufactured home community (MHC) in the Minneapolis suburbs despite vigorous protests from the residents, and an attempted purchase by a nonprofit, as MHProNews reported June 17, 2016, the Metropolitan Council report says the easiest way to preserve affordable housing is to protect the remaining communities....

27 Jun 2016

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Sunday Morning Recap-Manufactured Housing Industry News June 19-June 26, 20…

What’s New in public focused Manufactured HomeLivingNews.com Entry Level v Residential Style Manufactured Homes, Modular Homes and MH Appraisals – Tom Papszycki, Arrowhead Homes – Inside What’s New in Manufactured Housing Industry Professional News Louisiana Approves 336 home site MH community. Polish modular builder marketing in Sweden. Oreg...

26 Jun 2016

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UMH Properties to Release, Discuss Q2 2016 Financials

UMH Properties to Release, Discuss Q2 2016 Financials

MHProNews has learned from prnewswire that manufactured home community (MHC) owner UMH Properties, Inc. (NYSE:UMH) will hold its 2nd quarter 2016 financial results webcast and conference call Fri., Aug. 5, 2016 at 10:00 AM eastern time. Senior management will assess the results, current market conditions and future outlook. UMH’s second...

25 Jun 2016

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Housing Affordability Falls 13% Q1 to Q2 2016

Housing Affordability Falls 13% Q1 to Q2 2016

According to what RealtyTrac tells MHProNews, their Home Affordability Index indicates housing markets were less affordable than their historic norms in 18 percent of counties nationwide for the 2nd quarter. In the first quarter only five percent of counties were less affordable than their historically normal levels, having risen 13 points. A year...

25 Jun 2016

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New Sponsors

Featured Articles and Reports - June 2016 Vol. 7 No. 9

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The Power of Review Videos

The Power of Review Videos

by Wayne Coakley Who loves to watch videos? NSP_READMORE

MARKETING

How to do a Promissory Note and Security Agreement

How to do a Promissory Note and Security Agreement

by Marc Lifeset, JD + Jeff Barringer, JD Marc Lifset and Jeff Barringer will dissect for you our state-of-the-art form of chattel-loan promissory note and security agreement, or, as we will... NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

“Whiny Neighbor”

“Whiny Neighbor”

by Nadeen Green, JD When I teach others about reasonable accommodations required for persons with disabilities, we often talk about "whiny neighbors" - those folks who want to know why someone... NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

Open Letter - CFPB Director Richard Cordray - On Taking Responsibility for …

Open Letter - CFPB Director Richard Cordray - On Taking Responsibility for Harming Millions

by L. A. 'Tony' Kovach 6.3.2016-CFPB Director Richard Corday, As you know, you are tasked with Protecting Consumers, yet the evidence shows that you know that Consumer Financial Protection Bureau regulations... NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

Lawsuit Charges Eviction from MH Community is Discriminatory

Lawsuit Charges Eviction from MH Community is Discriminatory

by Matthew Silver MHProNews posted a story May 25, 2016 regarding the Waples Mobile Home Park in Fairfax, VA being charged with violation of federal and state fair housing laws for evicting residents who do... NSP_READMORE

COMMUNITY MANAGEMENT & FAIR HOUSING (LEGAL)

Northpoint Commercial Finance is Revolutionizing the Manufactured Housing I…

Northpoint Commercial Finance is Revolutionizing the Manufactured Housing Industry

by John Durnien Northpoint Commercial Finance, headquartered in Alpharetta, Georgia, is bringing some innovative ideas to the inventory finance industry. NSP_READMORE

FINANCING

Dodd-Frank Act Remains a Stumbling Block to Manufactured Home Lending

Dodd-Frank Act Remains a Stumbling Block to Manufactured Home Lending

by Matthew Silver Steve Sinovic, writing in abqjournal, says sales of manufactured home sales are up, a popular and affordable housing choice for New Mexicans, some eighteen percent of whom live in... NSP_READMORE

FINANCING

Duty To Serve by GSEs-Long-term Mortgages on Leased Land – It's Already Bee…

Duty To Serve by GSEs-Long-term Mortgages on Leased Land – It's Already Been Done!

by Titus Dare TOPIC – Did You Know? GSEs have already made chattel loans in Leaseholds & the “TOP SECRET” Chattel Loans purchased by Fannie NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Clayton Home Building Group Selects Birmingham for Inaugural Home Show

Clayton Home Building Group Selects Birmingham for Inaugural Home Show

by Lexi Holdbrook Clayton Homes, a Berkshire Hathaway Company, hosted its inaugural Clayton Birmingham Home Show from May 17 – 19, 2016 at the Birmingham-Jefferson Convention Complex. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Open Letter - Tim Williams, MHI Chairman – Correcting Errors, Crossing the …

Open Letter - Tim Williams, MHI Chairman – Correcting Errors, Crossing the Goal Line

by L. A. “Tony” Kovach 6.2.2016 - To: Tim Williams, Chairman, Manufactured Housing Institute (MHI). NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Manufactured Home Retailers and Communities – Bottom Line Booster by Sunshi…

Manufactured Home Retailers and Communities – Bottom Line Booster by Sunshine Homes - Tuesdays with Tony

by Soheyla Kovach Sunshine Homes is offering the second round of their popular webinar - Tuesdays with Tony – a marketing and sales coaching session. See the video below. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Clayton Homes Asheville Manufactured Home Show – Photos and Numbers

Clayton Homes Asheville Manufactured Home Show – Photos and Numbers

by L. A. “Tony” Kovach Our sources at Clayton Homes tell us the following about their recent Asheville Show. By photos and by the numbers, here's the snapshot of their event... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

A Cup of Coffee with…Kenny Lipschutz, HomeFirst™ Certified Communities

A Cup of Coffee with…Kenny Lipschutz, HomeFirst™ Certified Communities

1) Who, What and Where: (Your name and your formal title at Brookside Companies/ HomeFirst™ Certified Communities and where your company is based). I am Kenny Lipschutz, Chief Executive Officer of... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Why has MHI Issued a News Release on DOE Proposals Prior to the Rule Being …

Why has MHI Issued a News Release on DOE Proposals Prior to the Rule Being Published?  Q&A with M. Mark Weiss of MHARR

by L. A. “Tony” Kovach As regular readers of MHProNews know, MHARR's new president took the reigns there almost 1½ years ago. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

UMH Community Hosting Baseball Legend “Doc” Gooden; UMH Chair to Present a…

UMH Community Hosting Baseball Legend “Doc” Gooden;  UMH Chair to Present at NAREIT

by Matthew Silver UMH Properties, Inc. (NYSE:UMH) announces it will host three-time champion World Series pitcher Dwight “Doc” Gooden on June 18, 2016 at the manufactured home community owner’s Kinnebrook Estates... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

CFPB Director Cordray tells Whistleblower to have her Attorneys “Back Down”…

CFPB Director Cordray tells Whistleblower to have her Attorneys “Back Down”

by Matthew Silver Claiming senior managers within her office bullied and demoted her for filing a complaint with the Equal Employment Opportunity (EEO) office, Angela Martin said in testimony before the... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Drew Hits New Stock High; Equity LifeStyle Properties Declares Dividend

Drew Hits New Stock High; Equity LifeStyle Properties Declares Dividend

by Matthew Silver Drew Industries, Inc. (NYSE:DW) stock hit a new 52-week high Fri., May 27, $77.31, 44 cents shy of a ten dollar bill increase over the 50-day moving average of... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Why Richard "Dick" Jennison and Lesli Gooch at MHI Should Resign or Go

Why Richard

by L. A. "Tony" Kovach   For some years, this scribe and others have tried to correct the kinds of issues that will be cited in this column in an off-the-radar... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Why did 4-9-16 MHI's Housing Alert Mislead Association and Industry Members…

Why did 4-9-16 MHI's Housing Alert Mislead Association and Industry Members?

by L. A. “Tony” Kovach Let's begin with the facts. On April 9, 2016 MHI sent out a housing alert to MHProNews and other industry members. It read like the copy... NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

Bottom Line Change in MH Marketing and $ale$

Bottom Line Change in MH Marketing and $ale$

by L. A. “Tony” Kovach Change is a constant in life. NSP_READMORE

GENERAL MANUFACTURED HOUSING INDUSTRY TOPICS

ZigOn Failing

ZigOn Failing

by Zig Ziglar Most parents experience the joy of watching their children turn over, then crawl, then stand up and then take those first steps. NSP_READMORE

PERSONAL REFLECTIONS, MOTIVATION and INSPIRATION

Are you letting your past determine your present

Are you letting your past determine your present

by Tim Connor, CSP The past is history regardless of its positives or negatives. NSP_READMORE

PERSONAL REFLECTIONS, MOTIVATION and INSPIRATION

Frank Rolfe's Ten Tips to Pros on Manufactured Home Selling - Video

Frank Rolfe's Ten Tips to Pros on Manufactured Home Selling - Video

by L.A. "Tony" Kovach This fast-paced video is taken from a longer panel discussion that featured Frank Rolfe, partner in Mobile Home University, MHP Funds and RV Horizons. NSP_READMORE

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Press Releases

Northpoint Commercial Finance Expands Fi…

Northpoint Commercial Finance Expands Field Sales Organization

Alpharetta, GA, June 26, 2016 – Two new Directors of Business Development have joined Northpoint Commercial Finance’s Field Sales Organization. Northpoint is a diversified finance company that provides flexible inventory lending and floor plan financing solutions. With a highly successful background in floor plan financing, Richard Derbonne will lead development efforts in Texas and Oklahoma. Derbonne joins the Northpoint team from GE Franchise Finance with deep experience gained over more than 20 years in financial services. Previously, Derbonne held senior sales and management positions with such companies as Transamerica, Bombardier, First Horizon National and GE Commercial Distribution Finance.   Based in North Carolina, Greg Nash will lead development efforts in the eastern states of North Carolina, Virginia, West Virginia, Maryland and Delaware. He brings more than 25 years of floor plan financing experience...

the MHMSM Team 28 Jun 2016 Corporate Press Releases

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Northpoint Commercial Finance Provides I…

Northpoint Commercial Finance Provides Inventory Finance Program for  O’Rourke Sales Company Dealers

Winston-Salem, NC, May 15, 2016 – Northpoint Commercial Finance (“Northpoint”) continues to expand its partnerships with Nationwide Marketing Group (“Nationwide”) members through a new program for O’Rourke Sales Company (“O’Rourke”) dealers. Northpoint is a diversified finance company that provides flexible inventory lending and floorplan financing solutions, and Nationwide is North America’s largest buying and marketing organization. Headquartered in Davenport, Iowa with seven locations across the country, O’Rourke is a national distribution and fulfillment company for electronics and appliances across multiple sales channels, including premium and incentive, e-commerce, military exchanges, and both independent and national retailers. “We are pleased to begin our new relationship with Northpoint," said Jeff O'Rourke, CEO of O'Rourke Sales.  "We know they understand our dealers' priorities and financing requirements, and we feel it is crucial to give our dealers...

the MHMSM Team 17 Jun 2016 Corporate Press Releases

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