Homes of America — if the name rings a bell, you probably bid on a marketed asset over the past 2 years and lost. There’s a primer here (link) but a recent summary below and here (link). No commentary needed. Just shedding light on a big player.

Enjoy!

What We Are Reading

The Goods - Manufactured Housing

First they came for the newspapers. Then for mobile home parks.

The owners of the Monterey Herald and the Santa Cruz Sentinel walk away from unpaid bills as they amass personal wealth.

Expanded protections for Colorado mobile-home owners start Oct. 1

A new law providing expanded protections for mobile-home owners — but not the key rent stabilization provision that supporters and some legislators had sought — goes into effect Oct. 1.

ProActive Realty Group, LLC Demonstrates True Profitability of Affordable Housing Investment in Communities Nationwide.

The ProActive Realty Income Fund has demonstrated the true profitability of investing in the affordable housing movement.

Allendale Pines mobile home park expansion plan paused, as neighbors share concerns on Cheshire Road traffic.

A proposed expansion of the Allendale Pines mobile home park is delayed, with officials urging that a compromise be reached between the park and its neighbors.

Stephen Hamlin: Sen. Leahy needs to support the PRICE program for manufactured housing communities.

This program would be a game changer for North Avenue Cooperative, and for communities like ours across Vermont and the country. Grants like this would allow us to achieve safe and reliable water, wastewater and electrical systems without passing the cost onto residents.

Debt notices push some Riverdale mobile home park residents out ahead of rezoning deadline.

Joshua Haan found the paper taped to his door when he got home. It was a five-day notice to pay past-due rent on his lot or vacate.

Windsor mobile home park resident asks Windsor leaders for lower assessment increases.

A resident of the Windsor Mobile Country Club asked during a hearing on Windsor’s draft housing element last week, that the town reduce the annual rent increases property owners there are allowed to assess from 6% to 3%.

Hurricane Ian wrecked a mobile home park, but spared another across the street.

On one side of Ortiz Avenue in Fort Myers, residents returned to find that their trailers largely intact. On the other side, residents were trying to salvage what they could.

'Glad to be alive': Punta Gorda mobile home park decimated. One resident, 81, huddled in closet to ride out storm.

Roads in North Port are impassable due to flood water and debris. Cleanup began in North Port on the morning after Hurricane Ian cleared off. Thursday, September 29, 2022.

Survivors speak of Ian’s wrath at Florida mobile home park.

When Ian’s winds swept into this Gulf coast trailer park, they howled with such force that residents felt they would be lifted off the ground, even blown away.

General Real Estate News

• The U.S. Is Running Short of Land for Housing. (Link)

• The U.S. Rental Housing Market is Cooling Off Fast. (Link)

• As Home Prices Surge, Americans Are Moving to Cheaper Places. (Link)

• The Blackstone rebellion: how one country took on the world’s biggest commercial landlord. (Link)

• The American dream is broken. The best hometowns for raising a family could offer solutions. (Link)

• Home prices cooled in July at the fastest rate in the history of S&P Case-Shiller Index. (Link)

• The Best Real Estate Returns Come After Recessions. (Link)

Regulatory and Affordability

• Here’s how much you need to earn to afford a 1-bedroom rental in every U.S. state. (Link)

• Experts Weigh In on the State of the Nation’s Housing Market, Provide Data Driven Policy Solutions. (Link)

• Vacant stores will become homes more easily under new California laws. (Link)

Public Markets Corner

UMH Properties, Inc. announces community and rental home additions to Fannie Mae credit facility.

UMH Properties, Inc. (NYSE: UMH) today (Sept. 26, 2022) announced that it recently completed the addition of two tranches to its Fannie Mae credit facility through Wells Fargo Bank, N.A., for total proceeds of approximately $34 million

Flagship Communities Real Estate Investment Trust announces appointment of Ann Rooney to its Board of Trustees.

Flagship Communities Real Estate Investment Trust (TSX: MHC.U) (TSX: MHC.UN) (the "REIT") announced today the appointment of Ann Rooney to its board of trustees (the "Board") effective September 29, 2022. Concurrently, Ms. Rooney has been appointed to the REIT's Audit Committee.

LEGACY HOUSING CORP Management's Discussion and Analysis of Financial Condition and Results of Operations. (form 10-Q).

Legacy Housing Corporation builds, sells and finances manufactured homes and "tiny houses" that are distributed through a network of independent retailers and company-owned stores and are sold directly to manufactured housing communities.

Recent Acquisitions

RHP Properties is excited to announce the newest acquisition, a vibrant 55+ community located in Winter Haven, Florida.

The off-market sale of Pembrooke Park located in Warrensburg, Missouri just east of Kansas City.

Andrew Dohogne exclusively represented the seller and procured the buyer on this southern Arizona mobile home park.

Video Gallery

"It felt like a freight train" Davie mobile home park damaged by possible tornado | Watch Video ▶

Ogle County mobile home park might have a rodent infestation | Watch Video ▶

Bear captured in Helena mobile home park | Watch Video ▶

Residents in mobile park community form coalition due to increased rent | Watch Video ▶

Debate over affordable housing heats up in wealthy Bay Area suburb | Watch Video ▶

Philly Residents Organize to Block Evictions in University City Townhomes & Save Affordable Housing | Watch Video ▶

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Sponsored By —

Elevation Capital Group, and its affiliates, (“Elevation”) focuses exclusively on two niche property types: Mobile Home Communities and Self Storage Facilities. Elevation, through its affiliates, has acquired properties worth more than $600 million and has owned more than 200 properties across more than 30 states. To learn more about Elevation and their current investment offering, click here.

Contact us at [email protected] for sponsorship inquiries.