Homebuyer Tax Credit Could Be Extended Again
-- HOUSINGWIRE - Mon 02/08/10 10:34:14 am --
While many project the economy will be on stable footing by this summer, real estate consultant John Burns believes if it’s not, Congress may once again extend the homebuyer tax credit.
"A lot of people are not buying homes right now because they're worried about their jobs," Burns, president of John Burns Real Estate Consulting (JBREC), said in an interview with HousingWire. "If the ec...
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HUD's New Mortgage Settlement Procedures
-- U.S. Dept of Housing & Urban Development - Sun 02/07/10 06:52:24 pm --
The Real Estate Settlement Procedures Act (RESPA) requires lenders and mortgage brokers to give you this booklet within three days of applying for a mortgage loan. RESPA is a federal law that helps protect consumers from unfair practices by settlement service providers during the home-buying and loan process.
Buying a home is an important financial decision that should be considered car...
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Know Your Loan Ingredients! Part I of a Three Part Series
-- by Janis Arendsen - Sun 02/07/10 05:33:49 pm --
When the FDA required food manufacturers to reveal the ingredients, nutritional value, calorie count and net weight on their product labeling, the big winner was the consumer. The consumer wins again now that Department of Housing and Urban Development (HUD) has set a standard for loan transparency. As of January 2010, all loan originators are required to give borrow...
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Modular builder rolls out energy-efficient “i-house” models
-- Post And Courier - Sun 02/07/10 01:13:07 pm --
Home designs that impressed billionaire investor Warren Buffet last spring are now available for $75,000 and up at the local Clayton Homes outlet.
Maryville, Tenn.-based Clayton Homes recently built a showroom of the two-bedroom, 1,023-square-foot manufactured house, surrounding porches and a 268-square-foot orangey-red flex building complete with roof-top sundeck and rust-proof aluminum...
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Manufactured Housing Shipments and Production Report December 2009
-- Institute for Building Technology & Safety - Thu 02/04/10 09:47:10 pm --
Manufactured Housing Units produced across the United States in December, 2009. Here is the breakdown by each states Shipments & Production as compiled by The Institute for Building Technology & Safety...
...
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Plan to cut mortgage principal pitched to Congress
-- Reuters - Thu 02/04/10 04:41:01 pm --
A group of influential mortgage investors is intensifying efforts to encourage a new phase to U.S. housing stability plans that would give homeowners ability and incentive to pay their loans.
Proposals from a coalition led by Fortress Investment Group address the problem of “underwater” loans, whose high balances relative to fallen home values have to many investors become the chief th...
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Manufactured Housing Industry Calls for Industry-wide Council to Create Guidelines
-- Press Release - Thu 02/04/10 09:41:51 am --
"How to Deal with the Challenges of Empty Spaces, Repos, Park Owned and Abandoned Homes" was the topic of the Manufactured Housing Educational Trust ("MHeT") Breakfast Forum hosted by Deann Pancheri, President of Advantage Management, Inc. and New Image Homes, on January 27, 2010. Over seventy attendees heard presentations and joined in the discussion focusing on the q...
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Do Things Really Change?
-- by Lonnie Scruggs - Sun 01/31/10 11:09:31 pm --
In 1986, I started buying used mobile homes for $2,000-$3,000, and selling them for $5,000-$6,000 with payments of $200-$300 per month. Some 19 years later, I’m still buying and selling mobile homes at the same prices, same payments. Yet, I keep hearing people say there is no way they can b...
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More US borrowers than ever refi to shrink mortgage
-- REUTERS.COM - Sun 01/31/10 08:33:10 pm --
A record share of U.S. homeowners cut their loan principal when refinancing in the fourth quarter rather than tap their home's equity for cash, home funding company Freddie Mac (FRE.N) said on Thursday.
Record low mortgage rates in the fourth quarter and a relative dearth of equity build-up after home prices fell about 30 percent on average from 2006 peaks drove consumers to pare debt.
...
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Cavco Reports Fiscal Third Quarter Results
-- Press Release - Sat 01/30/10 11:53:09 pm --
PHOENIX, Jan. 28, 2010 Cavco Industries,
Inc. (Nasdaq:CVCO) today announced financial results for the third quarter and
first nine months of its fiscal year 2010 ended December 31,
2009.
Net sales for the third quarter of fiscal 2010 totaled
$36,369,000, up 45% from $25,093,000 for the third quarter of fiscal year
2009. Th...
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The Perfect Economic Storm for Manufactured Housing
-- by Dan Freeman - Sat 01/30/10 11:04:07 pm --
Question. Is now really a good
time to consider buying a manufactured home?
...
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When the U.S. Government Training Wheels Come Off the Lending Industry, So Will the Gloves
-- HOUSINGWIRE - Sat 01/30/10 02:20:00 pm --
WOHICA. Not a small town in Kansas. Instead a simple acronym for “watch out, here it comes…” For all lenders – small, medium or large – buybacks and rescissions are the haymaker punch aimed squarely at their 2010 financials. Last year was nothing compared to what we expect to see this year, as rescissions from the MI’s and the repurchases from the GSE’s will fuel their capital starved balance s...
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Executive Summary: 2010 Southeast Region Manufactured Home Community Rent Surveys
-- JLT & Associates - Mon 01/25/10 09:16:28 pm --
The following is a summary of our January 2010 Southeast Region Manufactured Home Community rent surveys. Occupancy numbers DO NOT INCLUDE repossessed homes as reported by the on-site personnel. We listed the number of repossessed homes reported by each community in the community profile section of our reports. In the summaries presented below, we include the num...
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CLOSING UP FRONT- PART #2
-- by Grayson Schwepfinger - Mon 01/25/10 10:21:08 am --
Last month’s article discussed how to get your prospect
into the office so that you can conduct the interview properly. Remember we want
to identify what they want, and why, what they need, and why and how much are
they able and willing to pay to satisfy these wants and needs.
...
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Green Courte Partners Names Ami A. Shah and Marnie C. Helfand Vice President
-- PRNewswire - Sun 01/24/10 06:38:19 pm --
LAKE FOREST, Ill., Jan. 21 /PRNewswire/ -- Green Courte Partners,
LLC, a private equity real estate investment firm targeting niche real
estate sectors, announced today the promotion of Ami A.
Shah and Marnie C. Helfand to Vice
President...
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How to Capitalize on the Housing Recovery
-- Minyanville - Fri 01/22/10 12:15:06 am --
I'll give you a hint, you'd much rather send your kids to school in 94702 than 94608.
These two neighboring zip codes in San Francisco illustrate the ongoing dichotomy in the housing market. Low-end markets, boosted by cheap prices and artificially constrained supply (thanks to government programs), are seeing stabilizing, if not rising, prices, as buyers rush to miss the next boom. Higher-e...
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Boston, New York investors to buy Champion Enterprises for $50 million
-- Crains Detroit Business - Fri 01/22/10 12:05:00 am --
Champion Enterprises Inc. has signed a letter of intent with a group of investors to sell all of its operations and emerge from Chapter 11 bankruptcy.
The Troy-based manufacturer of manufactured and modular homes filed for bankruptcy in November.
The company has reached a deal for a group of investors to put up ......
...
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Federal Mortgage Modification Program Fails To Deliver
-- Money Morning - Thu 01/21/10 05:56:48 pm --
Despite a concerted effort by the Obama administration to rebuild the housing market, it continues to languish. The government’s Home Affordable Modification Program (HAMP) failed to stymie foreclosures last year, and 2010 may not be any better.
Instead of declining, the number of foreclosed homes in the United States last year increased to a record 2.8 million, a 21% rise over 2008 and 1...
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Housing Experts Build the Case for Manufactured Homes in Cities
-- Routledge Journals - Thu 01/21/10 05:47:18 pm --
Manufactured housing could solve the
affordable homes crisis in urban areas, but only if planners help local people
to overcome their prejudices.Writing in the Winter issue of the Journal
of the American Planning Association (JAPA), two leading urban affairs and
planning experts - Professor Casey Dawkins and Professor Theodore Koebel from
t...
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FHA Raising Insurance Fees and Certain Down Payments
-- HOUSINGWIRE - Thu 01/21/10 09:54:22 am --
Federal Housing Administration (FHA) commissioner David Stevens on Wednesday unveiled a sweeping set of policy changes designed to address risk and strengthen the financial standing of FHA’s insurance program, which guarantees FHA lenders against default-related losses.
“These changes are overdue,” Stevens said in a press call, adding the changes should be “significant but not overwhelmin...
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