Nation's Building News Online: September 24, 2007Print All Articles Text Version |
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Washington Moving Fast to Ease Mortgage Credit CrunchFollowing adoption of comprehensive policy by the NAHB Board of Directors on Sept. 8 calling on the Federal Reserve Board, the Administration, Congress and federal regulators to take prompt action to address further erosion in housing and prevent a full-blown economic recession, significant steps were taken in Washington last week to stabilize the financial markets, restore the mortgage markets to health and develop solutions to the subprime and foreclosure problems. “I am pleased to report that less than two weeks after we left Seattle, we have seen important progress in all these areas as Washington policymakers have responded to our concerns,” NAHB Brian Catalde said in a Sept. 21 memorandum to the association leadership. “The Federal Reserve Board has cut interest rates, some needed reforms are moving through Congress and federal regulators are providing Fannie Mae and Freddie Mac with more flexibility to address the subprime crisis,” Catalde said. “I want to emphasize upfront that these developments are an important first step in our battle, and that your association will continue to work tirelessly until the housing market turns around.” The encouraging economic news coming out of Washington last week:
To read the House FHA bill, click here and enter H.R. 1852 in the box at the center of the page. For more information, e-mail Michael Strauss at NAHB, or call him at 800-368-5242 x8252. Floor Plans: A Gem Along North Carolina's Crystal CoastDeveloper:
Architect:
The Grande Villas at Indian Beach along North Carolina’s Crystal Coast — the southern Outer Banks — is in an area just secluded enough to have escaped the flocks of investors who overheated many other coastal areas during the housing boom. But the community is not so remote that it gets overlooked. The Grande Villas have already attracted buyers from New York, Pennsylvania and as far away as Denver. Part of the reason may be that values in North Carolina have weathered the boom, increasing 27% during the last five years, while prices along many other coastal areas have increased many times over. The Grande Villas are also bringing a style of living that is new to the Crystal Coast but quite familiar to buyers seeking the serenity of a seaside getaway with a touch of luxury, elegance and convenience.
Each unit boasts a terrace and view of the Atlantic from the master bedroom and living room. Mid-Rise Grace Amid Quaint Coastal Villages The Grande Villas, at eight stories high and featuring 90 condominiums, is the first mid-rise community in this quaint coastal setting of small villages, single-family homes, great fishing and nature. Developer Indian Beach Acquisition of Raleigh, N.C., a partnership between Greystone Property Development and Whistler Investment Group, positioned the community to attract the area’s growing market of second home buyers, vacationers and retirees by having the Grande Villas take full advantage of their surroundings. First and foremost is the view. Situated on a barrier island, the Grande Villas were designed so that each unit has two different water views — one of the Atlantic Ocean, the other of Bogue Sound. Each unit runs front to back, boasting terraces and views of the Atlantic Ocean from the living rooms and master bedrooms. Guests and children can enjoy views of the sound from their bedrooms. The beach is down a short boardwalk from the community’s pool. And for those who seek nature’s respite sans the pounding surf, the Grande Villas are adjacent to the 22-acre Theodore Roosevelt Natural Preserve, showcasing the barrier island ecosystem and ready to explore.
Elegant, Yet Family Friendly The spacious and elegantly appointed condominiums range in size from two-bedroom, two-bath to four-bedroom, four-and-a-half bath units. Each bedroom, no matter the size of the condominium, has its own walk-in closet. The gourmet kitchens feature granite countertops with limestone backsplashes and under-cabinet and recessed lighting. The master baths all feature marble countertops and marble-tiled floors, and the living and dining room areas feature limestone flooring set at a 45-degree angle.
‘Smaller, Smarter Home Plans” Available at BuilderBooks.com “Smaller, Smarter Home Plans,” available through BuilderBooks.com, showcases more than 300 favorite home plans — mostly 2,000 square feet — from top designers. The plans are presented in full-color photographs and artists' renderings. To view or purchase this publication online, click here, or call 800-223-2665.
Home Buying Conditions Better Than the News Media SayAs consumer confidence in housing has weakened under a barrage of negative media coverage sensationalizing the current mortgage credit crunch, NAHB has been stepping up its efforts to inform the public of the positive opportunities for buying a new home. “There are some serious problems in today’s mortgage market and the availability of financing is not what it should be,” according to an NAHB op-ed piece that association members can find in the online “Back to Basics” Toolkit, along with two similar buy-now messages that are being used by the executive officers. However, the editorial points out, the conventional, conforming loans that are the mainstay of the mortgage market have remained largely unaffected by the shakeout in lending to subprime borrowers and recent tightening of terms for jumbo loans. These loans are limited to $417,000 and conform to other standards that enable the lender to sell them to Fannie Mae and Freddie Mac, which then package the loans and sell them to investors. “Interest rates for these mortgages remain well within the affordable range,” the editorial adds. As an alternative to the subprime market, first-time home buyers or those who don’t quite measure up to the credit requirements that lenders are now setting for conventional loans should consider the alternative of mortgages insured by the Federal Housing Administration, which require 3% downpayments. “The most important thing for would-be buyers is to work with the builder to find the mortgage that will enable them to buy the house of their dreams at a cost that fits their budget,” the op-ed says. "In today’s market, there is availability of new housing in a range of prices and good financing options remain, even in instances where there may be some challenges.” The three articles cite several reasons why today is an excellent time for prospective buyers to explore opportunities to purchase a new home:
To access the toolkit, NAHB members can click here. To read the op-ed pieces in their entirety, members can click here. (This material has been posted in the toolkit primarily for informational purposes. If members want to use it as part of their own marketing, advertising or public relations campaign, they should first check with their local executive officer to coordinate their efforts.) NAHB ‘Buy Now’ Grant Program Ends, With $3 Million DisbursedNAHB’s “Buy Now” Advertising Assistance Program ended last month with $3 million disbursed to 168 associations around the country. Launched at the 2007 International Builders' Show in February, the program provided funds to support advertising campaigns of builders associations in areas hard-hit by the housing downturn. The grant amounts ranged from $5,000 to $75,000, and went to associations in 42 states. For a list of the HBAs that received grants, click here. To view a map of the distribution, click here. Four grants were awarded to associations in the top 10 major media markets, 89 to medium-sized HBAs and 75 to HBAs with less than 250 members — supporing more than $8.3 million in advertising. For more information, e-mail Gwyn Donohue at NAHB, or call her at 800-368-5242 x8447. Survey Shows Home Owners Unfazed by Mortgage TroublesA recent survey by online broker Share Builder found that 67% of the respondents were “just as confident” in their ability to make mortgage payments — even in the current declining housing and mortgage market. With credit getting tighter and many major lenders having to deal with loans that might not have been made in a less robust market, the same survey showed that 28% of those home owners surveyed planned to increase their spending on home improvements. Those concerned about the housing market are instead cutting back on entertainment and discretionary spending. Nineteen percent of home owners plan to decrease their spending on travel and vacations and another 19% say they are decreasing spending on dining out. The market environment for home improvement projects, both for additions and alterations as well as kitchen and bath remodels, is reported to be very healthy even though growth is not as strong as it was a year ago, according to a recent American Institute of Architects survey of its members. Still, residential market conditions continue to deteriorate nationally, according to AIA Chief Economist Kermit Baker. The steepest market declines have come from more affordable homes targeted for first-time buyers, Baker said. There has been some firming in market conditions in the custom/luxury market, while home remodeling activity remains relatively strong in spite of the broader weakness in home building. (www.realtytimes.com)
High Appraisals Signal ChangeIn some parts of the country, mortgage lenders — and appraisers themselves — say they are increasingly coming in with valuations higher than the contract prices agreed to by sellers and buyers. “We’re seeing it a lot now,” said Patrice Yamato, president of Plaza Mortgage Group in Jacksonville, Fla. “Appraisals are coming in higher than the contract” — a reversal of the pattern during the housing boom, when appraisals often came in at or occasionally below the contract price. “I think buyers are pushing very, very hard,” Yamato said — and they’re walking away with steals. Appraisers insist that their value opinions are based on hard numbers: recently closed comparable sales, current comparable listings, pending sales, statistical trend analyses and adjustments for special features of the property and its location. “We’ve got to use the most recent market data that is available to us,” said Patrick Turner, an appraiser in the Richmond, Va. area. “We can’t just make it up” to hit a contract price, he said. “If [the appraisal] comes in above the contract, that tells you something unusual is happening out there” — perhaps too much property has been sitting unsold for too long, and some sellers are suddenly feeling time pressure. (www.washingtonpost.com)
Trapped by the Mortgage MeltdownTighter lending standards have put many home sellers, owners and buyers in a bind, but it’s worth remembering that all real estate is local, and some markets are doing fine. More than half of the major housing markets in the country have yet to see prices drop. Even in those markets that aren’t fine, there are steps that can be taken to minimize the damage. Home buyers who can clear the hurdle of getting approved for a mortgage and have enough money set aside for a downpayment have more listings to choose from, at better prices and with a lot less competition than during the housing boom. “These days you’re in the driver’s seat,” says Lawrence Yun, senior economist for the National Association of Realtors®. Sellers who face the biggest hurdles are those in a rush to seal a deal. “If you need to sell your home in three months or less, you may have to discount the price 20%,” says Jonas Lee, founder of Redbrick Partners, a private equity firm that invests in real estate. If they can, sellers should wait at least a few months to put their homes on the market, after the panic phase of the mortgage credit crunch passes. Otherwise, they should take steps to ensure the swiftest possible sale at the best possible price, including a new paint job in neutral shades, replacing worn carpet and fixing up visible damage to the gutters and roof. Also, instead of using the list price of comparable homes for sale in the neighborhood as a guide, sellers should check out what homes have actually sold in the past month or two and then price theirs slightly below that level. (www.money.cnn.com)
Recession Fears Linger Depsite Market RallyAlthough the immediate reaction in the financial markets to the Fed’s dramatic half-point cut in interest rates was encouraging, some analysts fear that problems rooted in shaky housing finance still could squeeze consumer spending and drag down the economy. “There is a significant risk of a recession within the next year,” Robert Shiller, one of the nation’s most prominent finance experts, told the Joint Economic Committee of Congress. “The Federal Reserve will undoubtedly take aggressive actions, which will mitigate its severity,” he said, “but if home price deflation persists or intensifies, they may discover that the Achilles’ heel of this resilient economy is the evaporation of confidence that can accompany the end of boom psychology.” Some analysts reject the notion that danger is afoot. “Jobs are huge now. That’s what will end this thing,” said James Paulsen, chief investment strategist for Wells Capital Management, an arm of San Francisco-based Wells Fargo & Co. Paulsen expects that an upward revision to August job numbers, which showed a loss of 4,000 jobs, or a new month showing strong job growth soon will end recession fears, boost consumer confidence and overshadow news of housing-sector problems. He thinks that the deep cut in the benchmark federal funds rate showed that the Fed recognized “that most of this is a confidence crisis, not a ‘fundamental’ crisis.” (www.sltrib.com)
Luxury Project Becomes AffordableThanks to San Diego’s nearly flat-lined downtown real estate market, what was supposed to be a luxury condominium tower is morphing into a landmark low-income apartment project. KB Homes cancelled plans for a ritzy 184-unit condo it got approved in April 2006, and it’s being followed by Affirmed Housing. The local developer got the land at the bargain-basement price of $4.4 million, or $202 a square foot. The current per-square-foot average is $250; the average during the market boom two years ago was $350, said one real estate economist. KB Homes’ blueprint is being tweaked into 226 apartments for families who earn less than $42,000 a year. The tower, which will be the tallest affordable housing project in the country, is called Ten Fifty B and is expected to be built by early 2010. The downtown redevelopment agency loves the $89 million project enough to lend the developer $34 million. It will be the agency’s largest-ever investment in an affordable housing complex. (www.signonsandiego.com)
It’s a Cellars Market Out ThereThe wine cellar has become a must-have amenity for high-end homes, much like the home theater and the gym had been. A growing number of new-home developers in the Washington, D.C. area are offering wine cellars as an option, which makes particular sense with Virginia becoming a force in wine production. “In the next few years, you will be seeing wine cellars as a standard feature in upscale homes,” defined as those being 4,000 square feet or larger, said Gopal Ahluwalia, staff vice president of research at NAHB. Ahluwalia said that much of the demand comes from baby boomers who have collected wine over the years. But younger people who can afford expensive homes want all the upscale features they can get, he said. “I don’t know if they drink wine or not, but they do want everything.” Not even the shaky economy and the uncertainty of the housing market have kept owners of upscale homes from building wine cellars. In fact, some believe it will increase the value of their home. “I think it’s becoming a selling feature for new homes and existing homes,” said Josh Farrell, a product specialist and wine director of Wine Enthusiast magazine. “If you’re reselling your home and it has the swimming pool and it has the wine cellar, obviously that is going to add to the price.” An average cellar holds about 1,000 bottles, but some can hold thousands more. Prices, too, vary wildly, from the $10,000s to $100,000 and higher, according to several cellar designers. (www.washingtonpost.com)
Letter to the Editor: Don't Let Families Lose Their HomesDear Editor: What is being done by our government to help the more than one million families in jeopardy of losing their homes to foreclosure? The answer seems to be, “very little.” President Bush recently announced measures to help 80,000, or approximately 8%, of these families — provided that they meet certain restrictive conditions. Even if all 80,000 families are able to comply with these conditions, what about the other 920,000 families? Hopefully, the President’s request to Congress to work diligently to analyze the mortgage industry to help all home owners now and in the future will be met shortly. Our country is suffering. Our friends and neighbors are suffering. It is cheaper to fix the problem now by helping these financially affected, economically depressed people rather than removing them from their homes and placing them in financial ruin. Billions of dollars are being spent by our government elsewhere, yet we can’t even afford to help our own friends and neighbors living here in the United States. This is wrong. We need to speak to our elected and appointed government officials at every level to help Americans in need. People who obtained adjustable rate loans tied to accelerating interest rates may have been misled by mortgage bankers and brokers. These consumers were only trying to provide a better standard of living for their families, while the mortgage banking and brokerage community profited by offering loans to many buyers who were not financially able to make increased payments. The responsibility belongs to the mortgage bankers and brokers, many of whom have disappeared now that the housing boom is over. There is still time to make changes to prevent our country from continuing to slip into the posture of a second or third world country. Let us all be resourceful. If we work through the financial industry to encourage the federal government to prepare mortgage programs to help anyone who needs help, we can overcome our present situation. There are already instruments in place to help the less fortune purchase homes in rural and urban renewal areas. Let’s explore these programs and adapt them or create new ones today. It’s time to support leaders who can restore fiscal responsibility to this nation; and, it’s time to help those less fortunate. We can make our voices heard through phone calls, e-mails, faxes and snail mail to all levels of government. Let’s keep the American dream alive. Respectfully submitted by one concerned citizen, S. Robert August
NAHB Member Resources Available on Immigration LawWith proposed federal immigration reform legislation failing to pass the Senate this summer, many states are taking the issue into their own hands and proposing — and in some cases, passing — their own immigration legislation. In order to help builders stay informed about the immigration issue and comply with current regulations, NAHB has compiled resources in a special section of its Web site. These resources provide NAHB members and home builders associations with vital information, including:
For more information about immigration resources available from NAHB, e-mail Michael Strauss at NAHB, or call him at 800-368-5242, x8252 or contact David Crump, x8491. Downward Beat for Housing Starts Continues in AugustAs the housing downswing continued, new home starts fell 2.6% in August to a seasonally adjusted annual rate of 1.331 million units, according to figures released by the Commerce Department on Sept. 19. Starts were down 19.1% from a year earlier, falling to the lowest level in 12 years. "Today's report is very much in line with what builders are reporting in our own surveys — that they are cutting back on new production and focusing on reducing their inventories by offering a variety of incentives to boost sales and limit cancellations," said NAHB President Brian Catalde. "The housing market is still contracting, but action by the Federal Reserve to cut the federal funds and discount rates calmed the financial markets and sent a message to American consumers that our central bank intends to ensure that the economy continues to move ahead," said NAHB Chief Economist David Seiders. "This will help to support housing, especially if the Fed takes further action in the months ahead. We expect starts and permits to bottom out by mid-2008 before a systematic recovery process gets underway." Starts of new single-family homes dropped 7.1% for the month to a seasonally adjusted annual rate of 988,000 units, 27.1% below the pace of August 2006. Multifamily housing starts, on the other hand, climbed 12.8% in August to a seasonally adjusted annual rate of 343,000 units, pushing them 17.9% higher than a year earlier. Total building permits fell 5.9% in August to a seasonally adjusted yearly pace of 1.307 million units, which was down 24.5% from a year earlier. Single-family permit issuance last month declined 8.1% to a pace of 926,000 units, 27.9% below a year earlier, while multifamily permits, at 381,000 units, were unchanged from July but 14.6% below the August 2006 rate. Brisker multifamily activity lifted starts in August 4.2% in the Midwest and 11.4% in the South. Starts skidded 18.4% in the West and 37.7% in the Northeast. In all four regions of the country, however, the construction pace was substantially off from a year earlier. Attend the Fall Construction Forecast Conference on Oct. 24 Plan to attend NAHB's Construction Forecast Conference on Oct. 24 at the National Housing Center in Washington, D.C. The conference brings together the nation's premier housing economists and finance experts for an in-depth examination of the economic outlook for the housing industry. Can't attend? Watch the conference webcast live. For more information, or to register for the conference or webcast, visit www.nahb.org/cfc. Want to Know the Housing Forecast for the Top 100 Metros? Find out in HousingEconomic.com’s 2007-2008 Metro Forecast (free preview). Get the metro forecast with in-depth analysis, overviews and downloadable Excel tables. To learn more, visit www.HousingEconomics.com. Free NAHB Kit Gives Builders Back-to-Basics Tips in Navigate the Slowdown What was once expected to be a relatively mild housing slump following three years of record new home construction and sales has given way to a significant downturn. To help members navigate the uncharted waters of this slowdown, NAHB has compiled a comprehensive “Back to Basics” online toolkit — the best of the basics, the tried and true and the truly new. To access the toolkit, click here. To access the “Back to Basics” toolkit, you must be an NAHB member and have a login to www.nahb.org. To create a login, go to www.nahb.org/login or click on the log-in button on the main menu bar. For assistance, call the NAHB Member Service Center at 800-368-5242. Builder Confidence at a Record-Low Ebb in SeptemberConcerns about the substantial inventory of new homes for sale and the impact of deepening mortgage market problems on home buyer demand have undermined builder confidence this month, pushing down the NAHB/Wells Fargo Housing Market Index (HMI) for the seventh consecutive month. The HMI for September dropped two points to 20, tying its record low of January 1991. The series began in January 1985. “Builders are expressing concern that home buyers are getting spooked by the many headlines they are seeing on mortgage market issues and their continuing effects on the housing market and home prices,” said NAHB President Brian Catalde. “Indications are that consumers are trying to time the bottom of the market before making their purchase, which historically can be a very tricky thing to do and is typically not an advisable strategy. The bottom line is, with the inventory situation what it is and the selection of units and deals to be had, now is a very good time to buy a home.” “Certainly, problems across the mortgage finance arena are taking their toll on buyer demand, which is weighing heavily on builder confidence measures,” said NAHB Chief Economist David Seiders. “Even so, availability of mortgages under the government-supported part of the market remains very good, and the long-term fundamentals of housing are solid in terms of projected household formations, income growth and other factors. We now expect to see home sales return to an upward path by the second quarter of 2008 and we expect housing starts to begin a gradual recovery process by the third quarter of next year. At that point, the market will have substantial growth potential.” Derived from a monthly survey that NAHB has been conducting for more than 20 years, the HMI gauges builder perceptions of current single-family home sales, sales expectations for the next six months and the traffic of prospective buyers. Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view sales conditions as good than poor. Two out of three component indexes declined in September. The index gauging current single-family home sales declined two points to 20, while the index gauging sales expectations fell five points to 26. The index gauging traffic of prospective buyers held steady at 16. All four regions of the country reported declines in their September HMI readings. The index dropped three points to 26 in the Northeast, two points to 22 in the South, four points to 18 in the West and one point to 13 in the Midwest.
Attend the Fall Construction Forecast Conference on Oct. 24 Plan to attend NAHB's Construction Forecast Conference on Oct. 24 at the National Housing Center in Washington, D.C. The conference brings together the nation's premier housing economists and finance experts for an in-depth examination of the economic outlook for the housing industry. Can't attend? Watch the conference webcast live. For more information, or to register for the conference or webcast, visit www.nahb.org/cfc.
Want to Know the Housing Forecast for the Top 100 Metros? Find out in HousingEconomic.com’s 2007-2008 Metro Forecast (free preview). Get the metro forecast with in-depth analysis, overviews and downloadable Excel tables. To learn more, visit www.HousingEconomics.com.
Free NAHB Kit Gives Builders Back-to-Basics Tips in Navigate the Slowdown What was once expected to be a relatively mild housing slump following three years of record new home construction and sales has given way to a significant downturn. To help members navigate the uncharted waters of this slowdown, NAHB has compiled a comprehensive “Back to Basics” online toolkit — the best of the basics, the tried and true and the truly new. To access the toolkit, click here. To access the “Back to Basics” toolkit, you must be an NAHB member and have a login to www.nahb.org. To create a login, go to www.nahb.org/login or click on the log-in button on the main menu bar. For assistance, call the NAHB Member Service Center at 800-368-5242. Bank of Des Moines Boosting Housing Credit LiquidityAt a time when a tightening of the mortgage market points to the importance of meeting the large credit needs of the nation’s housing industry, NAHB last week cited the successful efforts of the Federal Home Loan Bank of Des Moines to include single-family construction loans as eligible collateral for member loans. The Des Moines Bank on Sept. 10 received approval from its regulator, the Federal Housing Finance Board, to accept one-to-four family construction loans as part of a basket of other real estate collateral that may back the bank’s secured lending, or “advances,” to member financial institutions in its district, which includes Iowa, Minnesota, Missouri, North Dakota and South Dakota. With this regulatory approval, the Bank of Des Moines can move forward with developing specific collateral criteria for implementing its expanded authority in the near future. “In adding construction loans to its collateral menu, The Des Moines Federal Home Loan Bank has shown outstanding responsiveness to credit needs in its district,” said NAHB President Brian Catalde. “The collateral expansion is an important signal that the Bank of Des Moines is making every reasonable effort to support the home mortgage lending of its member institutions, in addition to establishing a long-term foundation for housing production credit availability. This news further highlights the very positive role of the Federal Home Loan Banks in supplying credit during the current mortgage market difficulties.” “NAHB is a strong supporter of the Federal Home Loan Bank System,” Catalde added. “NAHB’s members are primarily small businesses with limited capital of their own who rely on the FHLBank System for credit to develop land and build homes. More than 90% of all loans for residential land acquisition, development and construction (AD&C) come from commercial banks and thrifts, many of which are FHLBank members. NAHB regards the Federal Home Loan Banks as a critical element of the housing finance system.” For more information, e-mail Blake Smith at NAHB, or call him at 800-368-5242 x8583.
Attend the Fall Construction Forecast Conference on Oct. 24 Plan to attend NAHB's Construction Forecast Conference on Oct. 24 at the National Housing Center in Washington, D.C. The conference brings together the nation's premier housing economists and finance experts for an in-depth examination of the economic outlook for the housing industry. Can't attend? Watch the conference webcast live. For more information, or to register for the conference or webcast, visit www.nahb.org/cfc.
Want to Know the Housing Forecast for the Top 100 Metros? Find out in HousingEconomic.com’s 2007-2008 Metro Forecast (free preview). Get the metro forecast with in-depth analysis, overviews and downloadable Excel tables. To learn more, visit www.HousingEconomics.com.
Free NAHB Kit Gives Builders Back-to-Basics Tips in Navigate the Slowdown What was once expected to be a relatively mild housing slump following three years of record new home construction and sales has given way to a significant downturn. To help members navigate the uncharted waters of this slowdown, NAHB has compiled a comprehensive “Back to Basics” online toolkit — the best of the basics, the tried and true and the truly new. To access the toolkit, click here. To access the “Back to Basics” toolkit, you must be an NAHB member and have a login to www.nahb.org. To create a login, go to www.nahb.org/login or click on the log-in button on the main menu bar. For assistance, call the NAHB Member Service Center at 800-368-5242. What's Next for Housing? Attend Construction Forecast ConferenceThe past months have been unpredictable for the housing industry. Get the information you need to make solid business decisions at the NAHB Fall Construction Forecast Conference and Webcast on Wednesday, Oct. 24 at the Housing Center in Washington, D.C. This year’s topic — “Will Housing Lift Off in 2008?” — addresses key concern of industry professionals. A distinguished assembly of housing economics experts will explore such important questions, including:
Conference Also Available Online Can’t attend the conference in person? The conference will also be broadcast live on the Web. To register, visit www.nahb.org/cfc. Want to Know the Housing Forecast for the Top 100 Metros? Find out in HousingEconomic.com’s 2007-2008 Metro Forecast (free preview). Get the metro forecast with in-depth analysis, overviews and downloadable Excel tables. To learn more, visit www.HousingEconomics.com. Free NAHB Kit Gives Builders Back-to-Basics Tips in Navigate the Slowdown What was once expected to be a relatively mild housing slump following three years of record new home construction and sales has given way to a significant downturn. To help members navigate the uncharted waters of this slowdown, NAHB has compiled a comprehensive “Back to Basics” online toolkit — the best of the basics, the tried and true and the truly new. To access the toolkit, click here. To access the “Back to Basics” toolkit, you must be an NAHB member and have a login to www.nahb.org. To create a login, go to www.nahb.org/login or click on the log-in button on the main menu bar. For assistance, call the NAHB Member Service Center at 800-368-5242. Useful Links to Monitor Economic and Housing TrendsThe following are links to useful information from government agencies and NAHB that will enable you to monitor the housing market. To access the latest information available, simply click the links.
Attend the Fall Construction Forecast Conference on Oct. 24 Plan to attend NAHB's Construction Forecast Conference on Oct. 24 at the National Housing Center in Washington, D.C. The conference brings together the nation's premier housing economists and finance experts for an in-depth examination of the economic outlook for the housing industry. Can't attend? Watch the conference webcast live. For more information, or to register for the conference or webcast, visit www.nahb.org/cfc. Want to Know the Housing Forecast for the Top 100 Metros? Find out in HousingEconomic.com’s 2007-2008 Metro Forecast (free preview). Get the metro forecast with in-depth analysis, overviews and downloadable Excel tables. To learn more, visit www.HousingEconomics.com. Free NAHB Kit Gives Builders Back-to-Basics Tips in Navigate the Slowdown What was once expected to be a relatively mild housing slump following three years of record new home construction and sales has given way to a significant downturn. To help members navigate the uncharted waters of this slowdown, NAHB has compiled a comprehensive “Back to Basics” online toolkit — the best of the basics, the tried and true and the truly new. To access the toolkit, click here. To access the “Back to Basics” toolkit, you must be an NAHB member and have a login to www.nahb.org. To create a login, go to www.nahb.org/login or click on the log-in button on the main menu bar. For assistance, call the NAHB Member Service Center at 800-368-5242. Builders’ Tip: Coping Crown Molding With a Grinder
I use a variety of tools to shape the cuts, and one of my favorites is my little Makita grinder. With an 80-grit wheel, I can back-cut a piece of crown with speed and accuracy. This is especially important when sculpting the belly, or the big central curve, as shown in the accompanying drawing. I also use my grinder for fine scribe cuts on cabinets, doors and trim. It’s the perfect tool for a situation where I don’t have good control with my belt sander. — Chris Solberg, Corte Madera, Calif. Tips & Techniques provided by Fine Homebuilding.
To request a reprint of this feature, e-mail Christina Glennon at Fine Homebuilding.
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What was once expected to be a relatively mild housing slump following three years of record new home construction and sales has given way to a significant downturn. To help members navigate the uncharted waters of this slowdown, NAHB has compiled a comprehensive “Back to Basics” online toolkit — the best of the basics, the tried and true and the truly new. To access the toolkit, click here. To access the “Back to Basics” toolkit, you must be an NAHB member and have a login to www.nahb.org. To create a login, go to www.nahb.org/login or click on the log-in button on the main menu bar. For assistance, call the NAHB Member Service Center at 800-368-5242. Gap Analysis a Boost for Business in a Slow MarketBuilders who are feeling the squeeze of slowing sales and production numbers should consider conducting a gap analysis to find other key areas of their business that, when operating at full efficiency, can help to bridge the gap during tough times, according to Quality Matters, the e-newsletter of the NAHB Research Center's National Housing Quality (NHQ) program. “If you are not achieving your objectives for your business, a gap analysis is one of the simplest tools available to evaluate all the factors that might be standing in the way,” the Research Center says. A gap analysis makes a basic comparison between a company’s current processes and those that need to be implemented to achieve the desired results. Quality management experts from the NHQ program recommend using key performance indicators such as targets for profit margins, new home construction volume, budget variances, overhead percentages, sales and marketing costs, customer referrals and overall customer satisfaction ratings to set new business goals and tune up quality management processes that don’t meet established standards. Builders can refer to their business plans for additional guidance on setting specific guidelines for their companies. “For example, if you are missing your profit margins, a gap analysis show you how to break down costs into smaller increments and compare them with industry guidelines or averages available from organizations such as NAHB,” the Research Center says. “If your numbers deviate significantly from other similar-sized builders, perhaps you are not looking at the total costs,” according to the center. “There are often underlying costs that occur with quality-related fixes that can negatively impact your profit margins. The high costs of warranty service work can be a double whammy since it costs you time and money and can impact your reputation with customers in the long run.” Builders who aren’t getting enough customer referrals can determine the root cause by taking a fresh look at the sales process, superintendent and customer interactions and the warranty service process to determine if the sales staff is asking the right questions. When referral rates and customer satisfaction scores are low, a gap analysis is essential to finding the answers. “After reviewing areas of your business plan to identify practices and procedures (or the lack thereof) that are preventing your company from being successful, prepare a list of items that can be implemented, redesigned or documented better,” the Research Center advises. “This will help verify that tactical decisions are aligned with overall corporate goals and can have a substantial effect on the bottom line. For more information on getting started with a gap analysis, visit the NHQ Web site. Builders Responsible for Not Getting Caught in StormsWhile the U.S. has been fortunate during the current hurricane season in so far avoiding any direct hits by a major storm, builders should always have a plan ready to put into action at the approach of severe weather, according to Quality Matters, the e-newsletter of the NAHB Research Center's National Housing Quality (NHQ) program. During severe weather, the Research Center points out, builders are responsible for securing their job sites for the protection of their employees, the public, property and themselves. In high winds, materials such as plywood, shingles and scraps of 2 x 4s can become missiles capable of impaling thick oak trees, brick walls or anything in their way. “Construction debris can cause severe damage to property and cost lives,” the Research Center says. “Any failure to take the necessary measures could result in lawsuits, fines or other actions permitted by state laws or local ordinances.” A quality business plan should not only cover different kinds of economic events, but should also include details for natural disaster preparation. For practical guidelines, builders can refer to the Builder Hurricane Preparation Plan provided by the NAHB Research Center’s ToolBase site. Other sources of pertinent information include the National Oceanic and Atmospheric Administration, FEMA and the American Red Cross. Among the pointers offered by the Research Center in preparing for a natural disaster:
Internet Savvy Consumers Know More Than You ThinkToday’s consumers not only know what you know — they know what you should know, says Paul Montelongo, CGR, CSP, of Paul Montelongo International, a nationally recognized consultant to the construction industry. They know because they rely on the Internet for information. What’s more, they are “highly visual” and want an experience — not just a product, Montelongo says. The following are some suggestions for appealing to today’s sophisticated customers from Montelongo’s presentation, “Be Memorable, or … Be Gone” at the 2006 Custom Builder Symposium: Know Why They Buy Know why your consumers buy at least as well as you know how to sell. “Sometimes in the sales process, we jump right in and tell them about all the stuff, without finding out what stuff is important to them,” Montelongo says. Consumers must get more than features from you. They must see the benefits in buying from you — such as your creativity, expertise, systems, processes, reputation, brand, longevity and product quality. They also must like you as a person, feel comfortable with you, know they can trust and believe in you. “What are they really buying? They are buying you,” Montelongo says. Take Your Web Site to the Top Do what you need to do to position yourself high in the Internet search engines — on the top two or three pages. When potential buyers land on your Web site, give them a reason — attractive visuals, virtual tours, prices, a mortgage calculator — to stay there. “In about 11 seconds a Web visitor will decide whether they want to be on your site,” Montelongo says. Once they decide to take the next step with you, they will already be familiar with features and you can focus on the benefits of a relationship with your company. Make Happy Memories Make the memories positive ones. Your project manager will leave a good impression of your company by being on time for the preconstruction meeting, being prepared and being organized. But also think of ways to take the customer experience over the top by getting whole families involved in building their home. Builders like you have had their buyers’ children pitch coins into the foundation and make a wish, write messages on the framing prior to drywall or leave time capsules in the structure of their new home. After closing, conduct a thorough new home orientation, pointing out the craftsmanship and attention to detail. Make it a party, with friends and neighbors — otherwise known as referrals. Be a Great Employer Treat employees as you would have them treat customers. “How much do employees want to be patted on the back? How often does your dog want to be petted? Employees want twice as much,” Montelongo says. Appreciation trumps money as a motivator for workers, so never forget to praise them for a job well done. Make employees part of your “Unique Building Experience Team.” Praise your trade partners in front of your customers and, to the extent possible, include them in the estimating process. Educate your vendors about your business and learn about theirs — you’ll find ways to partner for a win-win. For more information, call Paul Montelongo, of Paul Montelongo International, at 866-494-1911, or visit www.PaulMontelongo.com.
NAHB Has More Than 300 Resources to Help You Run Your Business More Profitably Go to NAHB's Business Management Tools Web pages (available to members only) for instant access to more than 300 timesaving, moneymaking and cost-cutting business resources to help you run your business more profitably. Get guidance on accounting and financial management, business strategy, computers and information technology, customer service, human resources and more. Resources are added weekly, so bookmark www.nahb.org/biztools to go directly to these vital business management resources. Local and state home builders associations can link directly to www.nahb.org/biztools from their Web site and give their members instant access to these resources. It will make your HBA's Web site the place to go for the information and guidance that members need to succeed. Put Your Assumptions About Aging Aside With BoomersThe first step when considering developing a new community geared toward boomers and empty nesters is to leave some of your assumptions about aging at the door. Previous generations were more linear and easier to understand — consequently, their expectations were easier to identify and address. Mid-lifers, retirees and “the elderly” were lumped into a homogenous demographic that constituted the market for retirement housing. Accordingly, communities were typically designed as secure havens from which residents seldom ventured. In the last few years, however, the boomer generation has been dispelling those hoary myths about retirement with a vengeance. And today, savvy developers are transitioning from “senior housing” to active adult, age-restricted and lifestyle communities that cater to a generation whose attitudes, lifestyles and sheer numbers command a whole new way of thinking about “retirement” housing. This generation’s profile is not linear and cannot be stereotyped. That diversity makes it challenging to reach out to them as a group. Still, some clear trends are emerging:
Boomers are a huge market. As a group they have more than $900 billion in annual income and own the most homes. They are largely sophisticated, discerning and financially secure. They will explore housing options on their terms and timetable. In your marketing:
New and exciting, choice, livability and amenities — press those hot buttons and you’ll win the boomer’s home-buying heart. Janis Ehlers, CAASH, is the founder and president of The Ehlers Group, Inc., a marketing and communications company with offices in Florida and Virginia that specializes in real estate development and active adult communities throughout the country. A Certified Active Adult Specialist in Housing (CAASH) designee, she is also the author of “Marketing Seniors Housing." For more information, e-mail Ehlers, call her at 954-726-9228, or visit The Ehlers Group Web site.
“Boomers on the Horizon: Housing Preferences of the 55+ Market,” available through BuilderBooks.com, can help you better build and market homes to this age group. Capitalize on the niches, needs and opportunities of this rapidly growing market by learning their preferences. To view or purchase this publication online, click here, or call 800-223-2665. The new Certified Active Adult Specialist in Housing (CAASH) designation gives housing professionals serving the rapidly burgeoning 50+ market the essential knowledge, tools and skills that will help them succeed — from conducting initial research to design considerations and features to serving the customer. Find upcoming CAASH classes here. For more information, call the Professional Designation Help Line at 800-368-5242 x8154, or e-mail CAASHinfo@nahb.com. 50+ Buyers Seeking Simpler Lifestyle, Maintenance-Free Living50+ buyers are looking for a simpler lifestyle in maintenance-free communities targeted to their age group, according to Jeff Smedley, vice president and brand manager for Mature Living Choices, a California-based active adult housing listing service. Smedley will share his company’s latest research on 50+ buyers at the 2007 Northeast Fall Symposium, “A Season of Change: Succeeding in Today’s Market,” at the Sheraton Harborside Portsmouth Hotel and Conference Center in New Hampshire on Oct. 17-18. The conference, hosted by the New England 50+ Housing Council, will focus on the active adult housing market. In another session, Jane Meagher, president of Success Strategies Design Studio, one of the nation's leading design studio strategy companies, will show attendees how to use design upgrades to increase profits, improve customer satisfaction and reduce costly mistakes. Other sessions will teach attendees how to:
For more information, call the New England 50+ Housing Council at 617-773-1300, visit www.50plusne.com or fill out the registration form. The New England 50+ Housing Council is one of the 18 local, regional and state 50+ Housing Councils across the country. This six-state regional council, which encompasses Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont, seeks to enhance the capabilities of members as well as to encourage affordable, high quality and professionally-managed housing specifically designed to meet the needs of the region’s rapidly growing 50+ population. Find Out What the 55+ Market Wants “Boomers on the Horizon: Housing Preferences of the 55+ Market,” available through BuilderBooks.com, can help you better build and market homes to this age group. Capitalize on the niches, needs and opportunities of this rapidly growing market by learning their preferences. To view or purchase this publication online, click here, or call 800-223-2665. The new Certified Active Adult Specialist in Housing (CAASH) designation gives housing professionals serving the rapidly burgeoning 50+ market the essential knowledge, tools and skills that will help them succeed — from conducting initial research to design considerations and features to serving the customer. Find upcoming CAASH classes here. For more information, call the Professional Designation Help Line at 800-368-5242 x8154, or e-mail CAASHinfo@nahb.com. Condo Builders Worried About Market ConditionsDespite increased traffic of prospective buyers, condominium builders and developers are extremely concerned about current conditions in the condo market, according to the latest results of NAHB’s Multifamily Condo Market Index (MCMI). The index lost 14 points in this year’s second quarter, falling to a level of 18, which is 14 points below a year earlier and the lowest level since the index was created five years ago. "The problems in the mortgage market are rattling consumer confidence in for-sale housing at the same time that the condo sector is trying to shake off excess inventory in a lot of markets," said NAHB Chief Economist David Seiders. "That combination is delaying any recovery in the condo sector." The index is derived from a quarterly survey of multifamily builders and developers, in which their responses are rated on a scale of 1 to 100, with a rating of 50 generally indicating that the number of positive responses is about the same as the number of negative responses. According to the index, builders expect no improvement in the condo sector through the end of the year. The component of the index gauging condo builders' expectations for the next six months declined to 26.3 in this year’s second quarter, down from 33.6 a year earlier. On the positive side, traffic of prospective buyers rose to 36.8, up from 26.8 for the second quarter of 2006. For more information, e-mail Ann Marie Moriarty at NAHB, or call her at 800-368-5242 x8350. Excess For-Sale Units a Concern for Rental MarketBuilder confidence in current conditions in the rental apartment market dipped in this year’s second quarter, amid concerns that an excess supply in the for-sale market is creating a shadow inventory of available rentals, according to the latest results of NAHB’s Multifamily Rental Market Index (MRMI). “Occupancy rates are still reasonably good for rental apartments, but the significant correction we are currently experiencing in the for-sale segment is having some spillover effect,” said David Seiders, NAHB’s chief economist. “It is probably good for the long-term health of the market that rental apartment developers are easing up their plans for new supply.” The component of the index that tracks rental demand slipped to 63.8 percent for Class A (luxury) apartments, off nearly 10 points from its all-time high of 73.2, recorded for the same quarter of last year. Moderately priced (Class B) apartments dropped to 67.7, down from 71.4 a year earlier, and lower-priced (Class C) apartments registered 66.0, down from 68.0. The index is derived from a quarterly survey of multifamily builders and developers, in which their responses are rated on a scale of 1 to 100, with a rating of 50 generally indicating an equal number of positive and negative responses. The component of the index gauging market supply conditions moved down slightly from a year earlier, with market rate rentals declining from 54.1 to 52.9 and lower rent units decreasing from 48.9 to 42.9. Multifamily builders participating in the MRMI survey were optimistic about prospects for the coming six months, with readings of 60.3 for luxury apartments, 66.2 for moderately priced apartments and 59.3 for lower-priced units. The volume of calls from prospective renters dropped to 66.1 in this year’s second quarter, down from 70.1 a year earlier, and net rents were at 64.3 for the quarter, down from a record 83.3 in the second quarter of 2006. Despite the continuing strength in rental demand, builders appear cautious about increasing supply. The MRMI found that builder expectations for supply over the next six months are lower than at the same time last year, with the index for market rate rentals dropping from 61.2 in the second quarter of 2006 to 55.6 in the second quarter of 2007. The same supply index for lower-rent apartments dipped to 45.7, down from 54.4 at the same time a year earlier. For more information, e-mail Ann Marie Moriarty at NAHB, or call her at 800-368-5242 x8350. Moss Honored for Affordable Housing CommitmentIn recognition of his 22-year commitment to affordable rental housing, NAHB has named Robert C. Moss, senior vice president of Boston Capital, the 2007 recipient of its Daniel B. Grady Memorial Award. The award was presented to Moss during the association’s recent fall board of directors meeting in Seattle. "This award was named in honor of the memory of a long-time NAHB member who advocated tirelessly for quality housing for those who can least afford it, and Bob Moss truly demonstrates the meaning of this award," said Granger D. MacDonald, president of the MacDonald Companies and chairman of NAHB's Multifamily Board of Trustees. "Bob has devoted the majority of his career to the affordable housing industry and has done so with a true sense of integrity and social responsibility." Boston Capital is a real estate investment company that has been a leader and innovator in financing affordable housing, particularly through the Low Income Housing Tax Credit (LIHTC) program. Moss joined the company in 1993, and since that time has originated more than $1 billion in tax credit equity and debt. He is responsible for state agency relationships and policy development and developer opportunities and applications, and he directs his company’s Origination Department effort nationally. Moss has served on the NAHB Legislative Affairs Committee as well as on the steering committee of the Housing Credit Group, which works to promote and protect the LIHTC program. Moss also has served as a consultant to developers, non-profit organizations and government agencies on how best to use programs such as the Low Income Housing Tax Credit. He serves on the boards of the New York State Association for Affordable Housing, the National Leased Housing Association, The Florida Housing Coalition, the National Housing & Rehabilitation Association and Illinois Housing Council. He also serves on the advisory boards of more than 20 state agencies responsible for allocating housing tax credits. For more information, e-mail Ann Marie Moriarty at NAHB, or call her at 800-368-5242 x8350. Multifamily Property Managers Reach Higher With RAM The Registered in Apartment Management (RAM) designation is a comprehensive training program that covers all aspects of multifamily property management. Course topics include personnel, marketing, application and move-out, Fair Housing and ADA regulations, office and financial management and more. Find upcoming RAM classes here. For more information, call the Professional Designation Help Line at 800-368-5242 x8154, or e-mail RAMinfo@nahb.com.
Entries Open for Pillars Design, Marketing Awards
NAHB Multifamily has announced a call for entries for the 2008 Pillars of the Industry Awards competition honoring excellence in apartment and condominium design and development, as well as leadership in marketing and property management. Apartment owners and developers, property managers, architects, interior designers and others involved in the multifamily housing industry are invited to enter. The application deadline is Nov. 30. Entry notebooks are due Dec. 7. The Pillars of the Industry Awards program is the largest and most prestigious of its kind, and both housing professionals and the media look to the awards as a showcase of future trends and innovation. The awards recognize superior achievement in three areas: building, marketing and individual excellence, including “Multifamily Development Firm of the Year” and “Best Multifamily Community of the Year.”
For complete details, including eligibility requirements and application forms, go to www.nahb.org/pillarsawards, e-mail multifamily@nahb.com, or call 800-368-5242 x8215. To see a list of last year's winners, available on the NAHB Web site, click here. Market Your CAPS Designation With Hands-On OpportunitiesOne of the most frequent questions I’m asked by Certified Aging-in-Place Specialist (CAPS) students and graduates alike is, “How can I use my CAPS designation in my business?” I answer by telling them about a marketing concept I initiated that is working wonders for my small remodeling business — especially regarding CAPS and accessible construction. The concept was born out of a goal I set for myself some time ago — to move my office out of my house. Last year, after 28 years in business, I finally did it. As part of the move, I built a remodeling center in a house that serves as my new office and installed accessible products so clients could see them “up close,” use them and gain a better understanding of how they would work in their homes. I call it the Legal Eagle Idea Center. The idea center displays our craftsmanship and the creative ideas that make our company unique from our competitors — and here’s another key — without the burden and overhead expense of a traditional showroom.
We don't have every tile color, paint chip and remodeling product on display in the idea center. Nor would we want them. The idea center is not a showroom. We have terrific vendor partners for that. Instead, the ideas center is what I call an interactive, sensory playground — a place where clients can explore new concepts and get hands-on experience with products that they might otherwise only read or hear about. I encourage you to give this marketing concept a try. Even a small-scale version of it can be a great way to demonstrate ideas to clients. I have found that my clients buy features in my idea center at a higher rate when they “see them in the flesh.” To get started, if you have office space where you regularly hold client meetings, even if it’s in your house, try adding some of these features:
Dan Bawden, CAPS, CGR, GMB , is president of Legal Eagle Contractors in Houston, and the winner of the Texas Remodeler of the Year three times, the Houston Remodeler of the Year twice, Big 50 winner and National Remodeler of the Month, among others. Bawden teaches other builders and remodelers Certified Graduate Remodeler/Graduate Builder Institute classes at the "CGR College" he began in Houston while he was the Remodelors™ Council president. For more information, e-mail Bawden, call him at 713-723-8850, or visit his company’s Web site at http://legaleaglecontractors.com. Updated CAPS Courses Debut in Las Vegas Two updated Certified Aging-in-Place (CAPS) courses will debut prior to the 2007 Remodeling Show, Oct. 10-12, at the Mandalay Bay Convention Center in Las Vegas. The courses — “Marketing and Communication Strategies for Aging and Accessibility (CAPS I)” and “Design/Build Solutions for Aging and Accessibility (CAPS II)” — have been upgraded to include recent statistics and trends about the older adult community, as well as improved graphics and activities to make the courses even more comprehensive. A third course offered at the Remodeling Show, “Project Management,” has also been revised and teaches remodelers how to improve their project management processes. Register for the courses when registering for The Remodeling Show. NAHB member fees are $185. Fees for non-members are $235, unless otherwise noted. All pre- and post-conference courses will be capped at attendance of 50 registrants.
Market Trends, Successful Selling Hot Topics at ShowcaseHow to increase market share and profit margins is one of the hot topics at SHOWCASE 2007, the premier systems-built industry education and networking event, at the Marriott Hilton Head Golf and Resort in South Carolina on Oct. 28-31. Bill Webb, the author of “Sweet Success in New Home Sales,” available through BuilderBooks.com, will lead an education session about how to boost your sales in a changing market. In addition, NAHB Chief Economist David Seiders will discuss trends in the market and the immediate and long-term effects on the systems-built housing community. SHOWCASE 2007, by NAHB’s Building Systems Councils, features educational sessions, trade show exhibits, award ceremonies and networking opportunities tailored to manufacturers, builders, dealers, suppliers and associates in the concrete, log, modular and panelized home building industries. SHOWCASE 2007 attendees will have the opportunity to see cutting-edge technology and the most advanced supplies and products and to learn about the latest trends from experts in green building, marketing, human resources and from the NAHB Research Center. Among this year's breakout sessions are:
For more information and to register, visit www.nahb.org/showcase. Register early. Discounted "Early Bird" registration ends Sept. 7.
Get Powerful Technique for Selling More Homes Bill Webb, MIRM, in “Sweet Success in New Home Sales,” available through BuilderBooks.com, provides you with the most powerful techniques ever devised for selling more homes and making more money in lean times. This instructive guide lays out the proven approaches for crafting and delivering sales excellence. To view or purchase this publication online, click here, or call 800-223-2665. Enter The Nationals Sales and Marketing Awards by Sept. 28Enter your best in new home sales and marketing and design for 2008's The Nationals — the National Sales and Marketing awards, the largest and most prestigious competition for new-home sales and marketing professionals and communities. Sponsored by NAHB’s National Sales and Marketing Council, The Nationals honor the best in architectural achievement, product and community design, advertising and promotion, interior merchandising, Web site design and more. The awards are open to individual sales and marketing professionals, home builders, associates and sales and marketing councils. All entries, including fees and exhibits, are due Friday, Sept. 28. Late entries accepted through Friday, Oct. 12 with late fee. The Nationals recognizes innovation and excellence in 59 categories. During a three-day judging process, a panel of industry professionals from across the country selects Silver and Gold award winners from a field that typically includes more than 1,200 entries. Last year, more than 1,400 entries were submitted. To Apply
Awards Gala at IBS on Feb. 13 Category winners will be honored during a gala event at the Rosen Shingle Creek Resort in Orlando on Feb. 13 during the International Builders' Show. For more information, visit www.TheNationals.com, e-mail Lisa Parrish, or call her at 800-658-2751. Face Market Challenges With IRM Confidence Institute of Residential Marketing (IRM) classes help new home sales and marketing professionals meet market challenges. Courses include” The Challenge of New Home Sales Management,” “Understanding Housing Markets and Consumers,” “Marketing Strategies, Plans and Budgets” and more. The courses provide the credits needed to earn the MIRM designation, the top-level achievement for professionals in new home marketing. Find upcoming IRM classes here. For more information, call the Professional Designation Help Line at 800-368-5242 x8154, or e-mail designations@nahb.com. Register for Custom Builder Show in Naples, Fla., Oct. 26-28Register for the 2007 Custom Builder Symposium, NAHB's premier educational and networking event for custom builders. The symposium will be held Oct. 26-28 at the Naples Grande Resort & Club in Naples, Fla. Discover Hidden Treasures This year's program, "Discover Hidden Treasures," is filled with hidden treasures and opportunities that will enable participants to improve their businesses. Tours, Golf, Education and More The symposium will include:
To Register Online registration is now open. For more information and to register, go to www.nahb.org/custom.
Education Calendar
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