Week of October 12, 2009
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Robert Gibbs, White House press secretary.

White House Eyes Extending Home Buyer Tax Credit

Amidst growing concerns in the Administration and Congress over worrisome prospects for reducing the nation’s lengthening unemployment lines and further strengthening the economy as it moves tentatively toward recovery, Washington turned a sharper focus last week on extending the current $8,000 tax credit for first-time buyers beyond its Nov. 30 expiration date and expanding it to a wider circle of principal home buyers.

Following some encouraging remarks from White House Press Secretary Robert Gibbs, NAHB on Oct. 6 said that home builders were ready to work with the White House and Congress to extend the credit and help bolster the lackluster economy. ...

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NAHB Member Wins 'Ultimate Volunteer' Contest on 'The View'

Home builder Tom Gipson, owner of Thomas Gipson Homes, Inc. in Raleigh, N.C., has won the "Ultimate Volunteer" contest on ABC television’s “The View.” The competition recognizes “someone who selflessly gives to others, who asks for nothing in return and inspires others to volunteer.”

Gipson will be a guest on the show on Monday, Oct. 19. Check your local listings for the broadcast time. The episode will also be posted for viewers on the show’s Web site.

Gipson founded the nationwide Builder Blitz program in partnership with Habitat for Humanity. In 2006, he coordinated the construction of a record 459 Habitat homes in a single week.

Tim Minton, executive vice president of the HBA of Raleigh-Wake County, nominated Gipson for the contest. “Tom is the heart of our organization,” he said. “He’s incredibly passionate about this project, and with his quiet persistence and rare strength, he gets amazing results.”

Read more about Gipson’s work and appearance on “The View” in an upcoming issue of NBN.

Builders Urged to Get Involved in Climate-Change Debate

As the Obama Administration and Congress move to formulate a policy on climate change and energy-efficiency requirements in the weeks and months ahead, builders must be pro-active in defining the debate and shaping solutions, according to panelists who participated in a special forum at the NAHB Board of Directors meeting in Chicago on Oct. 3.

“The political climate has changed. Those now in charge of federal policy are anxious to get started,” said Gerritt Knaap, a professor at the University of Maryland and executive director of its National Center for Smart Growth Research and Education. ...

Interest Rates  
  30-Yr. Fixed: 4.87% 15-Yr. Fixed: 4.33% 5 Yr. ARM: 4.35%
  1 Yr. ARM: 4.53% Libor (3 months): 0.28% Prime: 3.25%
Housing Starts*  (August 2009)
  Total: 598,000 Single: 479,000 Multi: 119,000
Home Sales*  (August 2009)
  New: 429,000 Existing: 5.1 million  
Median Home Prices  (August 2009)
  New: $199,900 Existing: $177,700  
* Seasonally Adjusted Annual Rate

   
 
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