- the MHC weekend
- Posts
- More, more, more
More bad press for Homes of America; more park redevelopments; and more talk of rent control.
And, Stevie Nicks once paid $4 million for a mobile home. Would rent control apply to her?
Enjoy!
What We Are Reading
The Goods - Manufactured Housing
A hedge fund-linked company bought a mobile home park. Many residents were told to pay hundreds more or be evicted
Massie Mobile Home Park in Montgomery County was purchased by a company linked to the hedge fund Alden Global Capital. Shortly after, many residents, many of whom receive HUD aid, found “notices to quit” on their doors telling them to pay about $700 on top of their regular rent or be evicted.
Prewitt Mobile Home Park property up for rezoning, over 41 residents could be displaced
An application to rezone close to 7 acres in Clarksville could lead to the displacement of over 41 residents.
Universal Exports has applied to rezone 6.96 acres just south of Prewitt Lane and west of Whitfield Road, known by some as the Prewitt Mobile Home Park.
Hollister, Mo. mobile home park residents forced out; nonprofits help with moving, relocation
New owners of the Yacht Club Mobile Home Park in Hollister have evicted those who live there. The new owners repurchased the property in August. They soon told everyone they had to move out by Tuesday.
A moratorium to halt development on mobile home park properties is making its way to City Council next year
The proposed moratorium would prevent any site development plans from being proposed or enacted on the park sites. If approved, the moratorium would last until April 2024.
Windsor considering tighter rent control for mobile home park residents
Residents of the Windsor Mobile Country Club Fran Reilly, left, Kendra Heath, Patti Restaino, Dee Raef, Sharon White, Vicki White, and Jeaneen Titsworth want a cap on rent increases. Photo taken in Windsor on Wednesday, November 2, 2022.
The eyesore is no more
One day after the City Council approved an ordinance designating $500,000 from American Rescue Plan funds to demolish eight properties, including Hopewell Apartments on Second Street at a cost of $153,540 by Regional Construction, the eyesore was reduced to a pile of rubble.
Stevie Nicks Once Paid $4 Million For a Luxury Mobile Home
Stevie Nicks is one of the most successful entertainers in the music industry, and she owns several properties, one of which is a mobile home in a luxury trailer park. Here’s what we know about the Fleetwood Mac star’s manufactured house in Paradise Cove, as well as her Pacific Palisades home.
Billings mobile home park residents file suit against Meadowlark owners
For nearly two years, residents at Meadowlark Mobile Home Park in Billings have been dealing with water that contains iron and magnesium, according to the Montana Department of Environmental Quality.
Rocket Mortgage Will Offer Financing of Manufactured Homes
Rocket Mortgage, a mortgage lender part of Rocket Companies, has introduced a conventional loan option for Americans who are interested in purchasing or refinancing a manufactured home.
Cary company charts new homes in Sanford after land deal
A new manufactured home community is coming to Lee County.
Affordable Communities LLC, based in Cary, purchased 84.9 acres in southeast Sanford for $700,000, according to a deed filed Oct. 28. The land sits along Cox Maddox Road near where U.S. Highway 421 and N.C. Highway 87 intersect.
KeyBank Joins Innovative Funding Pool Enabling Low-Income Colorado Homeowners In Mobile Home Parks To Capitalize On 2020 Community Purchase Law
Nine organizations have come together to create a financing vehicle that positions homeowners in Colorado manufactured home communities to successfully purchase their neighborhoods when they come up for sale.
National Sales Report - October 2022
22 properties sold nationwide including 4,479 sites. With $118,390 average price per site, total sales volume hits $387M.
Local mobile home park owner says manufactured homes are still an affordable option
An area owner of a manufactured home park spoke out saying mobile homes were still an affordable option for many families.
This week, mortgage rates hit heights we haven’t seen in two decades. It was pricing some people out of the housing market and has others looking elsewhere for affordable homes.
Summerhill Village Hosts Grand Opening Event Celebrating New Clubhouse and Amenity Center
Redeveloped Summerhill Village in Mt. Pleasant Michigan delivers on the promise of new lifestyle amenities and new homes in fast growing community.
General Real Estate News
JPMorgan Chase wants to disrupt the rent check with its payments platform for landlords and tenants. (Link)
Public REITs Are Down, Nontraded REITs Are Up. Which Is Right? (Link)
Multifamily sales in “virtual standstill”. (Link)
Blackstone’s $70 Billion Real Estate Fund for Retail Investors Is Losing Steam. (Link)
Majority of Maturing US CMBS Conduit Loans Can Refinance. (Link)
Regulatory and Affordability
Charts Making Us Smarter
Public Markets Corner
Legacy Housing Corporation Announces Timing of Third Quarter 2022 Earnings Release and Conference Call
Legacy Housing Corporation (the "Company” or “Legacy", NASDAQ: LEGH) will release earnings for the third quarter ended September 30, 2022, after markets close on Tuesday, November 8, 2022. The Company will host a conference call to discuss the results at 11:00 AM Central Time on Wednesday, November 9, 2022.
CAVCO INDUSTRIES INC. Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-Q)
Statements in this Report on Form 10-Q ("Report") include "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995. Forward-looking statements are often characterized by the use of words such as "believes," "estimates," "expects," "projects," "may," "will," "intends," "plans," or "anticipates," or by discussions of strategy, plans or intentions.
Construction on 449-unit rental development in southwest Canton may start next summer
Work on the site of a planned 449-unit rental home development could begin as early as summer 2023.
Recent Acquisitions
MUELLER & HOFFMAN MANUFACTURED HOUSING is pleased to announce the sale of Becker Estates in the Minneapolis-St. Paul MSA.
The NorthMarq MHC Team closed the Foothills Mobile Home Community in Butte Valley, California!
RHP Properties is excited to announce our newest acquisition, a beautiful 55+ senior community located in the DC metro area.
Video Gallery
Future of South Congaree mobile home parks to be decided Tuesday | Watch Video ▶
Social Section
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