Nation's Building News Online: February 9, 2009Print All Articles Text Version |
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Public Backs $15,000 Tax Credit in Economic Stimulus BillIntense negotiations last week between a group of centrist Senate Democrats and Republicans resulted in a compromise over the weekend that removed about $100 billion of spending from the economic stimulus bill. This paved the way for the Senate to vote 61 to 36 on Monday evening in favor of moving the legislation forward. The chamber is expected to hold a final vote on the stimulus legislation on Feb. 10. Resulting in large part from the efforts of the entire NAHB federation, the bill includes an expanded home buyer tax credit in the amount of $15,000 available to anyone buying a principal residence. The tax credit would apply to all purchases occurring within a year after the bill is signed into law and it is a true tax credit. It would not have to be repaid. However, there remains the possibility that the $15,000 home buyer tax credit could be scaled back before the Senate casts its final vote on Tuesday. As the Senate moved to wrap up consideration of its version of the economic stimulus bill, NAHB President Jerry Howard on Feb. 9. conducted several media interviews on why it is critical for the entire $15,000 home buyer tax credit to remain in the final Senate package. In discussions with CNN/Money, Dow Jones, Bloomberg, The Hill, National Mortgage News, ICIS News and SNL Financial, Howard said that the full credit amount is needed to help stabilize home values and revive the housing market and U.S. economy. Further, NAHB is urging all members of the housing community to call their senators at 1-866-924-NAHB (6242) and tell them to preserve the entire $15,000 tax credit in the Senate version of the economic stimulus bill. The $15,000 home buyer tax credit would replace and sunset a much narrower tax credit that was enacted last year. Available only to first-time home buyers, the current $7,500 tax credit works like an interest-free loan that must be repaid over a 15-year period. It is set to expire on July 1. The House stimulus plan approved last month would slightly improve the $7,500 home buyer tax credit by eliminating its recapture provision. Extending and expanding the home buyer tax credit as proposed in the Senate bill will help to end the free-fall in the housing market and save and create new jobs, said NAHB Chairman Joe Robson. “Increasing demand for housing will help reduce excess inventory, mitigate foreclosures, bolster consumer confidence and set the stage for a broader economic recovery,” said Robson. Poll Finds Broad Support for $15,000 Home Buyer Tax Credit A new national telephone survey conducted by Voter Roll Call of Verona, N.J. on Feb. 8 shows that a robust home buyer tax credit has broad public support. Two-thirds of Americans support a $15,000 home buyer tax credit now being considered by Congress as part of its economic stimulus package and believe it will be effective in stimulating home sales. “This survey reinforces our view that the $15,000 home buyer tax credit in the Senate stimulus package will successfully tackle the housing and economic crisis head-on,” said NAHB Chief Economist David Crowe. The survey of more than 1,200 registered voters found that one-third of all respondents and 61% of renters would be more likely to buy a home if the $15,000 home buyer tax credit were to be enacted into law. “This is extremely significant because normally in any one year only about 5% to 7% of households purchase a home,” said Crowe. “This temporary, timely and targeted tax credit will push folks off the fence the day the bill is enacted, helping to stop house price declines and bring confidence back to the housing market.” After the Senate unanimously voted last week to add the $15,000 home buyer tax credit to its stimulus bill, Sen. Joe Lieberman (I-Conn.), a co-sponsor of the amendment along with Sen. Johnny Isakson (R-Ga.), issued a press release quoting Connecticut builder Greg Ugalde and citing NAHB statistics on how the tax credit would boost economic activity. The Senate stimulus package, as modified by an agreement brokered by Sens. Ben Nelson (D-Neb.) and Susan Collins (R-Maine), includes several other provisions that will help small businesses and bolster the housing market. The legislation would:
There is still speculation that the Obama Administration could tackle rate buy downs on its own when it unveils later this week its plan to address the banking and foreclosure crisis. A Collective Effort As the Senate began work on its stimulus package last week, NAHB teamed up with its local and state HBAs to conduct a broad grassroots outreach in support of an enhanced and expanded home buyer tax credit to address the crisis in the housing market. EOs from across the country arranged for groups of builders to visit their local congressional offices and push for policies that will stimulate housing demand. Local media in several states picked up on this message. A group of Virginia builders who visited and held rallies at the local offices of Sens. Jim Webb (D-Va.) and Mark Warner (D-Va.) in support of a robust home buyer tax credit received favorable news coverage from NBC affiliate WWBT-TV in Richmond and Petersburg. KELO-TV reported on home builders in Sioux Falls, S.D. who urged their congressional delegation to support an expanded home buyer tax credit. Builders in Seattle and Columbus, Ga. also received TV coverage on their efforts to urge Congress to help the housing sector and show how bad the industry is hurting. To help builders prepare for their visits, NAHB’s members-only Web site provided talking points, economic data, press documents and other resources. Builders who were unable to visit the local offices of their federal lawmakers were encouraged to call 1-866-924-NAHB (6242) and urge them to support any amendment to enhance or expand the home buyer tax credit. Several hundred calls were logged from builders in every state. On the public relations front, NAHB ran a week-long series of ads in Roll Call, The Hill, Politico, Congress Daily and CQ Today calling on Congress to enact a stimulus package with a more significant home buyer tax credit to get the economy moving again. To get the message directly out to the media, NAHB President Jerry Howard conducted several interviews on the need to spur housing demand to jump-start the economy. He spoke with AP, USA Today, U.S. News and World Report, Bloomberg, National Mortgage News, ICIS News and Builder magazine and conducted a live one-on-one radio interview with Jerry Doyle, whose show is carried on 240 radio stations nationwide. NAHB also updated its federalhousingtaxcredit.com Web site to highlight Senate inclusion of the $15,000 home buyer tax credit in the stimulus package and to urge consumers to call their senators and support this provision. Once the Senate bill is approved, it will go to a House-Senate conference to be reconciled with the House version. Lawmakers are still hoping to get a final bill to President Obama by the end of this week. Through its lobbying, grassroots and public relations efforts, NAHB will continue its push to ensure that the final package includes the full $15,000 home buyer tax credit and other housing priorities that will put housing and the economy back on the right track. For more information on participating in NAHB’s grassroots campaign on the stimulus package, e-mail Molly Murray at NAHB or call her at 1-800-368-5242, x8282. To learn more about the legislation, e-mail Greg Brown or call him at x8421. Home Improvements Weak, But Future Holds OpportunityA growing number of home builders are diversifying into remodeling hoping to find jobs to tide their businesses over until the home buying market returns, but remodeling over the short term continues to display weakness of its own as home owners pull back from major improvements to their property. Economists at last month’s International Builders’ Show in Las Vegas noted that consumers have lost significant amounts of both confidence and wealth and are not in a spending mood. Even for most remodelers, who haven’t taken as much of a drubbing as home builders, the goal will be to survive another difficult year as they prepare for opportunities that will emerge on the other side of the recession. The Leading Indicator of Remodeling Activity from the Joint Center for Housing Studies of Harvard University projects that home owner improvement spending will be declining at an annual rate of 12.1% by this year’s third quarter, moving to $109.5 billion. Home owner spending on improvements peaked at an annual rate of $141.9 billion in the second quarter of 2006. The market has seen steady declines since the middle of 2007, although recently the rate of decline has flattened, the Harvard index shows. “While we may be nearing the bottom of the remodeling cycle, there is little to push spending back into a growth phase until the economy recovers,” said Kermit Baker, director of the Joint Center’s Remodeling Futures Program. Expenditures on owner-occupied units were responsible for 84% of the remodeling market’s $326 billion in activity in 2007. Improvements — as opposed to more routine maintenance and repair — accounted for 70% of the total. “Despite the gloom today, remodeling is still viable,” said William Apgar, senior scholar at the Harvard Joint Center, even in the absence of conditions favorable for upper-end discretionary jobs. Expenditures in that category grew 23% in 2005 and 7% in 2007, compared to 13% and 6%, respectively, for total remodeling activity. While the current remodeling downturn is more severe than in previous cycles, the industry is performing notably better than home building. As of the third quarter of last year, home improvements were down an estimated 15.5% compared to a far steeper 52.6% slump for single-family construction. A new Joint Center study, “The Remodeling Market in Transition,” notes that exterior replacements, system upgrades and disaster repairs — which vary little from year to year — are creating a floor for spending in the home improvement market. “While upper-end discretionary projects are responsible for most of the volatility in home owner spending, even at their inflated 2007 share, these projects accounted for 30% or less of total expenditures,” the study says. “As a result, even if some discretionary projects were deferred and others were downsized, the impact on overall remodeling expenditures would be much more modest than the decline to date on the construction side.” Apgar cited the decline in home equity, a major funding source for projects, as a significant factor behind the remodeling slowdown. From its recent $12.5 trillion peak in the final quarter of 2005, owner equity in household real estate has declined by roughly $4 trillion, or almost 32%. Even so, this “will stabilize,” he said. Home owners “still have equity of $8.5 trillion, a lot of wealth,” he said. “But people want to see where the end is before they commit.” Another drawback for remodeling is the current slowdown in home sales; existing home sales were off nearly 30% in the third quarter of 2008 from their recent peak. “New buyers engage in a lot of remodeling activity,” Apgar said. “The patterns of recent buyers are different from longer-term owners.” According to the Joint Center, households that relocate spend an average 20% to 25% more on improvements than otherwise similar households that do not move. Apgar also observed that “there has been a definite decline in the past four to five years in the likely recovery of remodeling expenditures when the house is sold.” During the peak of the boom, some remodeling projects actually increased the selling price of the house by more than $1 for every $1 spent. Average cost recovery declined steadily from 87% in 2005 to just over 67% in 2008, according to Remodeling magazine and the National Association of Realtors®. The share of cost recovered from home improvement projects typically increases when house values are rising and decreases when values are falling, says the Joint Center report. The good news, Apgar said, is that those who do make it through another difficult year can expect to have some strong fundamentals on which to build new remodeling business. The new Joint Center report identifies three sources of demand that are most likely to boost improvement spending once a remodeling turnaround begins to materialize:
Despite today’s downturn, the Joint Center reports that, “Remodeling still rests on a solid foundation with 130 million homes — and one to two million added yearly — in continuous need of maintenance, upgrades, repairs and adjustments to meet the nation’s changing preferences and lifestyles.” For information on remodeling resources available from NAHB, e-mail Kelly Mack, or call her at 800-368-5242 x8451. Florida Builder Wins ‘Amazing’ Obama Inauguration TripIn early January, home builder Cynthia Russell of Newberry, Fla., was having trouble thinking about anything other than how her once thriving custom home business of 18 years, Emerald Ventures, Inc., was suffering in the economic downturn. Then a brief essay she’d written was selected as the first winner of an all-expenses paid trip to Washington, D.C., to participate in the historic Inauguration Day celebration. Russell, who’d never been to the nation’s capital, said the experience was amazing. “One of the most remarkable things was how everyone was on an ‘Obama high,’” she said. “Everyone was happy, energized, talkative and curious about where you were from and what brought you to the inauguration.” The “Your Ticket to History” contest was held by the Presidential Inauguration Committee in order to give everyday Americans the opportunity to attend inauguration festivities. Ten winners were chosen from responses to the essay question, “What does this inauguration mean to you?” More than a quarter-million entries were received. Russell, who also owns Studio One Home Staging, LLC, wrote about her struggles as a single woman business owner who helps support her mother. She wrote, “Eighteen years of hard work and dedication is slowly going down the drain. I find myself wondering how much longer I can hold on and be able to pay my bills and keep the doors open for business.” An Instant Media Celebrity The contest winners received complimentary transportation, accommodations and tickets to a welcome ceremony, the swearing-in, the inaugural parade and an inaugural ball. Russell — as the first winner chosen — became an instant media celebrity, and was interviewed by media from as far away as Germany and Australia. On Jan. 7, she was flown to New York City and interviewed on NBC’s “Today Show.” To see the interview, click here. She also appeared with Geraldo Rivera on his television show, received a call from Ellen DeGeneres and used a camera provided by the television show, “Entertainment Tonight,” to videotape footage for a later air date. Russell said she had so much fun being interviewed, and that she was treated so well by the media, that she joined the media committee at her HBA, the Builders Association of North Central Florida. The closest Russell got to the President-elect was at a black tie dinner for approximately 300 guests hosted by Vice President-elect Joe Biden and his wife Jill at Washington’s historic Union Station the night before the swearing-in. She said that even though her table wasn’t near the podium, it was still inspirational to see the soon-to-be President in person. A Ticket Holder in the Crowd On Inauguration Day, Russell, along with thousands of other ticket-holders, almost didn’t get to her reserved section to view the swearing-in ceremony. “The lines wrapped all around Capitol Hill with masses of people holding different-colored tickets trying to figure out where they were supposed to go,” she said. “I didn’t think we were going to make it in!” Despite the fact that their view was partially obstructed by bleachers, and that they watched most of the swearing-in on a nearby video screen, Russell said the attitude of the crowd made it worthwhile. “Once we got in, there was plenty of room,” she said. “And everyone was so full of a sense of pride; it was by far the most emotional, memorable moment of the weekend.” A Carole King Fan The inauguration ball was a lot different from what Russell expected. She went to the Neighborhood Ball, where the new President and his wife were serenaded by pop star Beyonce. Declining an offer from an entertainment news show to buy her a dress — if they could film her shopping for it — she wore a long black gown purchased in Florida. “I was expecting people in big flowing gowns, ballroom dancing,” she said. “Instead there were no tables, a cash bar and a lot of people in what I’d consider pretty casual dresses.” But she said the entertainment was exceptional all weekend. She saw Sting, Mariah Carey, Faith Hill and Stevie Wonder perform at the ball, and Bruce Springsteen and U2 sang at the Lincoln Memorial concert. “I know this dates me, but I was really excited to hear Carole King sing at the Biden dinner,” she said. “Hers was the first album I ever bought as a kid.” Russell said one unexpected benefit of winning the contest was the friends she made. “I’m still e-mailing and sharing pictures with people I met,” she said. “And I already have plans to meet up with one woman from Georgia at the Georgia-Florida college football game in Jacksonville this fall.” U.S. Housing Market May Bottom in 2009, Zandi Says“Notwithstanding the intensifying economic gloom, the bottom of the housing downturn is within sight,” Mark Zandi, chief economist for Moody’s Economy.com, said in a Feb. 9 statement. “Presuming we see strong action by policymakers to help support the economy and the housing market, prices will begin to recovery by the end of this year.” The Obama Administration and Congress are trying to stem the housing slide at the root of the U.S. recession. President Barack Obama is trying to get a $780 billion economic stimulus bill passed that may help ease lending and bolster home buying. (www.bloomberg.com)
South Florida Housing Prices Becoming Affordable AgainFor many South Floridians, there is an upside to the otherwise brutal downturn in real estate, with its flurry of foreclosures, personal bankruptcies and spreading economic pain. Housing is suddenly affordable to those with average income — without risky teaser rates or subprime mortgages or cooking the numbers to qualify. Foreclosures and a sluggish market have pushed prices down by as much as 43% since they peaked in 2006 and 2007. For the first time in a long while, thousands of homes are listed for less than $150,000 — even less than $100,000 — putting them snugly within the affordability range of police officers, teachers and others long priced out of the South Florida market. At the peak of the market, affordable housing was so scarce that companies had difficulty recruiting workers from outside the region. While the pickings are more plentiful now, borrowing hurdles are daunting, often including demands for 20% downpayments and stellar credit scores. Buyers are also being held back by fears that housing prices will sink even more and by concerns that they could lose their jobs in the deepening recession. For home buyers with more modest savings and means, FHA loans are filling in the financing gap with downpayments of only 3.5% of the purchase price and a little more lenient credit standards. (www.miamiherald.com)
Beazer’s Quarterly Loss Narrows; Shares RallyShares of Beazer Homes USA Inc. opened 26% higher on Monday morning after the home builder reported a narrower first-quarter loss on smaller write-downs. The Atlanta-based company posted a net loss of $80.3 million, or $2.08 a share, for the three months ended Dec. 31, compared with a loss of $138.2 million, or $3.59 a share, during the same period during fiscal 2008. “The housing industry continues to face the most difficult business conditions in many decades,” said Ian McCarthy, Beazer’s chief executive. Orders for new homes fell 57% from the year-earlier quarter to 545, while the cancellation rate held relatively steady at roughly 46% as nervous buyers continued to walk away. Beazer operates in some of the nation’s hardest-hit residential markets, such as California, Arizona and Florida. The builder said it didn’t offer additional sales incentives or price reductions in the latest quarter because it didn’t think these would meaningfully boost orders, citing “the significant turmoil in the general economy and the financial markets in particular and a general hesitancy by consumers to make home purchase decisions.” (www.marketwatch.com)
Toll Bros. Sells Lifestyle With HomeToll Brothers’ first subdivision in 1967 touted its houses’ one-car, attached garages, master bathrooms and crawl spaces. This year, as it completed its 700th development, its most popular product was the 4,800-square-foot Henley, which includes three staircases, a security system and an island cooktop. What Toll hasn’t changed over the years, says senior vice president Andrew Stern, is its sales strategy. “We sell a community lifestyle,” says Stern. “We want people to drive home and say, “This is my community,’ not “This is my front door.’” The benefit for buyers, he says, is getting “more than just a home. Playing golf with a neighbor, sitting by the pool with friends, taking exercise classes with your buddies, playing cards and dining with those in your immediate vicinity all provide a lifestyle.” Billing itself as “America’s Luxury Home Builder,” Toll’s niche is the high-end, semi-custom home. Its buyers expect luxuries such as granite countertops and extensive woodwork, says Stern, but don’t have the time or desire to build custom homes. Although the depressed economy is causing Toll buyers to cut their budgets, Stern says, they are not willing to compromise on the room they consider the most important: the kitchen. “Instead, many are giving up finished basements or landscaping because they can add those later,” he says. His buyers’ greatest obstacle today, says Stern, is their inability to sell their houses before they can buy new ones. To help them, Toll provides free staging services for their old houses and offers extended interest-rate locks on their new homes. (www.chicagotribune.com)
Logging Out; New Styles of Fireplaces Eliminate Need for ChimneysClean, increasingly stylish, easy to use and flexible to place, direct-vent, ventless and electrical fireplaces have seen an increase in popularity. “The product is becoming very, very popular because you can put them anywhere in any room in any size you want,” said Jim Hilz, executive director of the Building Industry Association of Central Ohio. “It’s really amazing where that product is going and has gone.” “You don’t need to run flues or chimneys,” said Neil Rogers of Bob Webb Builders. “Aesthetically, it allows more flexibility to place the fireplace. Hilz said he saw many displays of ventless and direct-vent fireplaces when he was in Las Vegas recently for the International Builders’ Show. “I was just walking through the show, and the different sizes and configurations I saw were just phenomenal,” he said. “Even remodelers are taking advantage of the option of putting them in kitchens, bedrooms; I’ve even seen these fireplaces in bathrooms.” The fireplaces are also increasingly popular because of their efficiency. “Direct-vent can be 70% to 80% efficient,” said Steve Watters, sales manager of manufacturer Hamilton Parker. Ventless can be 99.3% efficient. In both cases, most of the heat is going into the house.” While traditional fireplaces remain the top choice for consumers, even the old-style brick-and-mortar units are unlike their drafty ancestors. Fireplaces today are 60% to 99% efficient, depending on the fuel source. The move is on to direct-vent, ventless and electric fireplaces because of their flexibility. (www.dispatch.com)
On Second Thought, No Grab BarsIn its 2007-2008 Consumer Preference Survey based on a national sample of questionnaires, NAHB has shed some light on what Baby Boomers want. Boomers strongly prefer single-level living with three bedrooms. Younger age groups want four bedrooms in a two-story house. Ease of maintenance, energy efficiency and an emphasis on quality were other preferences. “Boomers want to show they have arrived and are successful,” said Helen Velas, president of Eleni Interiors, a Naperville, Ill.-based home decorating firm. “Boomers are ready for their dream home. That could mean remodeling or buying an existing or new home. They want to go to the next level — granite countertops, walk-in showers, faux finishes on walls, architectural details like art niches, built-in bars, wine cellars, several plasma TVs, under-cabinet lighting. They want the home to be their castle,” she said. Velas breaks down the 45 to 63 age range into younger Boomers and older Boomers, who are at very different stages of their lives. “Younger Boomers think getting old is so far away that they haven’t addressed the possibility. They haven’t given a high priority to housing features that will ease aging in place. Those features, such as wider doorways and brighter lighting, will make it possible to stay in a house and live independently as long as possible,” Velas said. “Universal products for handicapped accessibility can be smart and beautiful in design,” she added. But most Boomers don’t even want to think about universal products. (www.chicagotribune.com)
Letters to the Editor: Find Me a Bank That's Seriously LendingThe following were received in response to a Feb. 2 letter in The Wall Street Journal from Ed Yingling, president and chief executive of the American Bankers Association, on the lending situation at today’s big U.S. banks. Dear Editor: I wonder if Mr. Yingling would volunteer the actual hard numbers in terms of loan volume and quantities of loans made compared to 2008 and earlier. If my bank and the banks of my customers are any indication, that letter is mere puffery. From what I see, banks (not only secondary/non traditional lenders) have become ostriches with their heads buried so deep in their own jacked-up balance sheets with the fear of saving their own jobs and 401(k)s, that the only borrowers deemed worthy these days have no debt, and no exposure to any business cycle or sector whatsoever. As long as consumers can’t get financing for autos, homes or business lines of credit, the economy will continue to shrink and put further downward pressure on the prices of all asset classes. The banks are shooting themselves in the other foot by cutting off performing loans and forcing businesses to shut their doors. I believe we will see a fundamental shift in the consumer's attitude regarding borrowing and the lending institutions themselves. These banks cannot accept bailout money and then simply line the pockets of the executive committee with “badly needed” bonuses while shutting out their customers who are bearing the burden of this bailout. Shameful doesn’t even come close to describing the actions of these banks. Criminal activity shrouded in pure lies is a more accurate description. Mike Rader
Dear Editor: I saw the Wall Street Journal letter from the representative of The American Bankers Association. I have also read in the same newspaper a couple of articles defending the banks, written by “financial consultant” Bert Ely, who is obviously a shill for the banks. Both the letter and the article are jokes. Who do they think they are trying to kid?
Read the current edition of Time magazine and an article titled “Why your bank is broke.” This tells the tale of years of excess lending and undercapitalization by our banks. It tells the story of the misuse and failure of TARP (Targeted Assets Relief Program) funds. It demonstrates the reason why builders are being put out of business every day because our banks are going broke. The combined net worth of the Bank of America and Citi today is $56 billion, which is $34 billion less than the $90 billion in TARP money they have received. What the story tells us is that the under-regulated banks have over-leveraged themselves, going as high as 30:1 debt to equity, whereas builders were at 1:1. When house prices fell the banks were toast. A recent Washington Post story reported that a local bank spent most of its $32 million TARP money to buy a local competitor, and the Los Angeles Times recently ran a story about the failure of the TARP program and the lack of lending to business. Every day the media is full of stories about bad bank behavior. It's either the failure to lend money or it’s outrage over banker bonuses, corporate jets or sponsoring the NFL experience with taxpayer dollars. Or the Bank of America sending $7 billion to The China Construction Bank while bailing out on American builders. Please go to www.pathtosolutions.com to see more stories about bank behavior. You will see that banks have been creating "contrived defaults," often using "made-to-order appraisals" to pull the rug out from underneath builders. As a result, in 2008 this country lost a home builder every business hour. It is expected in 2009 that we will lose a home builder every 15 minutes. Analyst Ivy Zelman believes we will lose half our builders during this recession. The lack of builder liquidity and bad behavior by banks is the number-one issue facing our industry. I urge NAHB to set up the framework to deal with this issue and deal with it quickly. Mick Pattinson
It’s almost hilarious to think that a letter from an obviously biased source defending his industry could be expected to come anywhere close to convincing the business community, especially home building. If there is a bank out there that is seriously looking to lend money, I know of hundreds if not thousands of builders and developers who would love to talk with them. Please ask the author of the letter for contact information. I’m sure they would love to hear from interested borrowers.
I am in Denver and am interested in banks you might know of who are doing lot loans and construction loans? I read everywhere that banks say they are still lending, but I have not found this to be the case. Can you help me out with some fresh construction lending leads? I appreciate any assistance you can provide. Thank you! Marie Callaway
Dear Editor:
Milton Grant
Legislative Conference Comes at Crucial Time for EconomyBuilders looking to send a message to Congress that housing deserves 100% of their ongoing attention to lead the nation’s troubled economy back to higher ground should mark their calendar now for the most important grassroots event of the year — the 2009 NAHB Legislative Conference — which will take place on Tuesday, March 24 in Washington, D.C. The timing of this year’s Legislative Conference — which, for the first time will take place independently from the NAHB spring board meeting — is particularly significant considering the growing downward momentum in housing and the nation’s job market. With policymakers in Washington confronting the most difficult financial crisis since the 1930s, attending this year’s conference could be one of the most important decisions that builders make this year. Builders are encouraged to travel to the nation’s capital and to urge their representatives and senators to support policies that will stabilize home values, mitigate foreclosures, bolster consumer confidence and get the economy moving forward. The annual NAHB conference provides an ideal opportunity for association members to share their concerns on housing-related issues with lawmakers on Capitol Hill. Especially in these challenging times, participation by NAHB members can make a huge difference as various interest groups compete to push their agendas in Washington. A strong builder turnout on March 24 will send a powerful message to members of Congress that housing must remain a top national priority. For more information and to register for NAHB’s 2009 Legislative Conference, click here; or e-mail Molly Murray at NAHB or call her at 1-800-368-5242 x8282. Missouri Enables Tax Credit to Be Used for DownpaymentsWhile NAHB members continue to push hard for a stronger tax credit to stimulate housing demand and the nation’s economy, programs have been recently announced that would enable home buyers to use the current $7,500 credit for first-time purchases as a downpayment. Passed by Congress last July with high hopes that it would encourage significant numbers of wavering prospective buyers to return to the marketplace, the repayable credit has several limitations that have yielded disappointing results; the inability of buyers to monetize the tax benefit and use the tax proceeds at the time of closing is one of them. As indicated in the instructions for Form 5405, home buyers can only claim the tax credit on their income tax return. The tax code does not allow the credit to be claimed until the home purchase has been completed, although taxpayers who purchase a home this year can claim the credit on their 2008 return, significantly accelerating the refund. Gaining national attention, the state housing finance agency of Missouri — the Missouri Housing Development Commission (MHDC) — has unveiled a program that monetizes the tax credit by providing home buyers with a short-term loan. Under the MHDC Tax Credit Advance Loan Program, qualified first-time home buyers can receive a no-interest, second mortgage at the time of closing worth up to 6% of the purchase price or $6,750 – whichever is less. In exchange for a small administrative fee of $350, this second mortgage can be applied to downpayment and closing costs. The home buyer claims the $7,500 credit on their income tax return and then uses the proceeds to pay off the tax credit advance loan. Home buyers must also obtain their first mortgage through this program, which uses taxable bond proceeds. (The home buyer tax credit cannot be used in conjunction with tax-exempt bond programs). The program is subject to other limits and rules but offers a method of directly using the tax credit for the purpose of making a downpayment on a home. The program has the added advantage of being administered by the state housing finance agency, which is a trustworthy source for home buyers and other housing market stakeholders. Interested home buyers in Missouri can consult the MHDC Web site for more information. Builders and home buyers in other states should inquire with their state’s housing finance agency about the prospects for similar tax credit advance programs in their state. Using Mortgage Credit Certificates In a related issue, there is still some question in the marketplace over whether the home buyer tax credit can be combined with the mortgage credit certificate program. (For a full report from NAHB on this issue, click here.) NAHB has requested guidance from the IRS and the Department of the Treasury on this matter. However, while addressing other qualifying tests for the tax credit, to date IRS publications on the credit have been silent on the question of mortgage credit certificate use. The tax code is clear that buyers who participate in a mortgage revenue bond home buyer program financed by tax-exempt bonds cannot qualify for the credit. However, the law is unclear on mortgage credit certificates. In the view of Robert Dietz, NAHB’s director of tax issues, home buyers in the mortgage credit certificate (MCC) program should be able to claim the first-time home buyer tax credit. Section 36 of the Internal Revenue Code — which authorizes the tax credit program — states that buyers cannot claim the credit if their home is financed by “the proceeds of a qualified mortgage issue, the interest on which is exempt from tax under Section 103.” This is the prohibition against using tax-exempt mortgage revenue bonds (MRBs) with the tax credit. Dietz notes that despite linkages between the MRB and MCC programs, mortgage credit certificates are authorized under Section 25 of the tax code. This implies that MCCs and the first-time home buyer tax credit may be used in tandem. For more information, e-mail Robert Dietz, or call him at 800-368-5242 x8285. Despite Price Declines, Metal Thefts Continue to Hit Home Builders HardEven though copper prices have declined more than 50% from six to eight months ago, when copper fetched as much as $4 a pound, the theft of copper and other nonferrous metals from building sites across the country continues to plague home builders. Many states have already passed laws regulating scrap metal sales or criminalizing scrap metal theft. States also have expanded the scope of these laws from just copper to more general nonferrous metals. Metal theft laws are on the books in 33 states. The most common legislative approach establishes regulations requiring scrap metal buyers to identify sellers and keep detailed records of purchases. Among the most recent legislative developments at the state and federal level:
Georgia is leading the charge nationally to crack down on metal thefts with the creation of its Active Metal Theft Task Force. One of its functions is to e-mail theft alerts to a distribution list in order to bring immediate attention to stolen products that may be presented for sale. “Metal theft continues to be a thriving industry in Atlanta” reports Chris Burke, vice president of government affairs for the Greater Atlanta Home Builders Association. “The theft task force here has grown from just being the city of Atlanta to include police departments and private industry from around the region.” 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.
Want to Know the Housing Forecast for the Top 100 Metros? Find out in HousingEconomic.com’s 2008 to 2009 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 to 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. Business Plans, Working Capital Crucial in Lean TimesTo survive today’s tough economic times, builders need to develop detailed business plans that clearly spell out their cash flow projections and future performance, according to business management experts at an International Builders’ Show seminar in Las Vegas last month. “The industry is in a survival mode today. Lenders are more involved in home building operations so now is the time to enhance your systems and processes,” said Steve Hays, partner-in-charge of RubinBrown’s Home Builder Services Group. Stressing that monitoring key financial numbers and ratios is critical to achieve operating success, Hays said that total direct costs of construction should be no more than 80% of the home sales price. “Direct construction costs, the ‘sticks and bricks’ that go into a home, are the biggest cost that a home builder incurs,” said Hays. “The characteristics of the best builders are the ability to monitor and manage these costs.” To better manage overhead, Hays suggested that builders should cross-train their staff members to keep them productive; walk through their job sites often to identify needless waste and opportunities for savings; review each income statement to look for cost savings; and budget warranty costs and units closed in prior years to avoid unknown surprises. Operating expenses are another area builders need to focus on, according to Felicia Malter, a partner in RubinBrown’s Assurance Services Group. For example, to decrease sales expenses, she suggested that builders construct no more than the number of model homes needed, review the days and hours that sales agents staff the model homes and market to their customer niche to avoid wasting their ad budget. Declaring that net income is the most important number for builders, Malter told seminar attendees that if they had a bad year in 2008, they need to look at their balance sheet and make it as clean as possible moving forward so that when the market does bounce back, they will be poised for sales. Malter also suggested that builders should strive to keep their debt-to-equity at no more than a 4:1 ratio. She also noted that businesses that generally maintain a large amount of working capital will be more successful since they will have more latitude to expand and improve operations. With banks tightening lending standards across the board, Malter said that builders need to be prepared for lenders requiring them to operate with less land, to construct fewer specs and model homes, to restructure covenants on debt-to-equity ratio and to maintain higher net worth requirements. “I can’t stress enough that you must maintain an open and honest communication with your lenders,” added Hays. “Keep lenders informed on what is going on with your business. They don’t want any surprises.” Efficiency and productivity ratios are also areas that builders should focus on, according to Steve Maltzman of SMA Consulting in Redlands, Calif. “How productive is your sales team? You need to track the total sales per number of full-time employees and number of starts or closings per superintendent,” he said. Other key measurements include sales and marketing data, such as referral ratios, defined as total sales or traffic divided by the number of customer referrals. “Referral ratios are typically our best and cheapest resources,” said Maltzman, who added that builders who improve these ratios through follow-ups with their customers typically sell more homes. In gauging their bottom line, Maltzman also urged builders to keep a close eye on quality measurements, such as the number of punch list items that must be serviced on each home before closing and total service request items per number of homes under warranty. NAHB Members to Get Free Business Survival TipsBeginning on Feb. 16, NAHB members can get free business survival information on such issues as bankruptcy, reorganization, liens, subcontractor disputes, partnership issues and more that will help them survive the downturn. The information, prepared by the Texas-based international law firm Gardere Wynne Sewell LLP, will be available on the NAHB Web site in a "Frequently Asked Questions" format that will address a variety of topics, including: Bankruptcy/Reorganization
Members whose questions are not answered on the Web site posting will be able to call or e-mail the law firm for more information. For further information on this program, e-mail David Jaffe at NAHB. Builders’ Tip: Strain Paint for Touch-Ups, Without the Mess
But if there’s still enough usable paint or varnish left in the can and you still have some touch-up work to do, you shouldn't throw it out. Instead, it’s time to strain the paint. Straining the entire contents is definitely a messy and time-consuming job. As shown in the accompanying drawing, I have figured out a simple way to work with only what I need, save time and bypass the mess. Here’s how:
— Don Mathis, via e-mail Tips & Techniques provided by Fine Homebuilding.
To contact Fine Homebuilding, e-mail Christina Glennon.
Join the ranks of the nation’s top building industry professionals with the Certified Graduate Builder (CGB) designation. The “Builder Assessment Review” (BAR) is your first step towards obtaining the CGB. This comprehensive assessment measures your expertise in the four key areas of the building industry: building technology, business and finance, project management and sales and marketing. Your results will show the areas where your knowledge is strongest and weakest and will help determine the courses required for you to obtain your CGB. To learn where the next BAR will be held, visit NAHB’s education listings, or call the Professional Designation Help Line at 800-368-5242 x8154.
BuilderBooks.com is your source for training and education products for the building industry. The official bookstore for NAHB, BuilderBooks.com offers award-winning publications, software, brochures and more available in both English and Spanish. To view these publications online, click here, or call 800-223-2665.
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. Cost of OSHA Crane Proposal Could Topple BusinessesIn comments submitted to the Occupational Safety and Health Administration (OSHA) on Jan. 22, NAHB voiced concern that a proposed rule for “Cranes and Derricks in Construction” would have a considerably adverse impact on the home building industry and push construction costs higher.
In its comments, NAHB suggested regulatory alternatives that would be less complex and burdensome for home builders, while still upholding the safety and health of construction workers. The three main requirements of the rule opposed by NAHB are:
The two options do not give employers enough flexibility to “self-qualify” their own crane operators, NAHB said, and employers’ current safety training programs, while suitable and adequate, would not meet the more stringent requirement imposed by the proposed rule. NAHB believes that smaller cranes used in home building should be treated like forklifts and other similar equipment for which OSHA allows the employer to "ensure and certify the operator is competent to operate a powered industrial truck [forklift] safely." The proposal’s requirement for “controlling entities” to ensure that cranes are sufficiently stabilized and don’t tip over is unfair and risky, NAHB added, because general contractors and other job site managers are unlikely to have the necessary expertise in crane operation. NAHB said that requiring employers to follow manufacturers’ recommendations is not legal because it gives a private entity oversight over a government regulation. Other industry groups — including the Associated Builders and Contractors ABC) and the Associated General Contractors (AGC) — are also asking OSHA to revise the proposed regulations. NAHB has actively monitored and participated in the revisions to the crane safety standard, which have been under development since 2003. In 2004, OSHA's Cranes and Derricks Negotiated Rulemaking Advisory Committee — which was responsible for revising the crane safety standard and finding a consensus on a new regulation — reached final agreement on the regulatory text of the standard. NAHB was represented on the committee by home builder Craig Steele, a member of the HBA of Central Arizona. NAHB members will testify at OSHA’s informal public hearings on the proposal on March 17 in Washington, D.C. For more information, e-mail Rob Matuga at NAHB, or call him at 800-368-5242 x8507. Safety Award Winners Honored at IBSThe 13 winners of the third annual Safety Award For Excellence (SAFE) Awards were announced at a Jan. 21 ceremony at the Las Vegas Hilton during the 2009 International Builders’ Show. The SAFE awards honor the achievements of builders and trade contractors who have developed and implemented high-quality construction safety programs, as well as those government officials who have made successful efforts to advance safety in the home building industry. “Safety can be a thankless job — it’s one of those occupations where, if we don’t hear about you, then you’re doing your job well,” Buck Roberts, NAHB Construction Safety and Health Committee chairman, told the audience at the ceremony. “Congratulations to all the winners from the National Association of Home Builders for your commitment to promoting safety in the home building industry.” Joe Robson, chairman-elect of NAHB; Colin Campbell, Construction Safety and Health Committee vice chair; and Ray Rhodes, committee second vice chair, also made remarks at the awards. The 2008 SAFE Award winners honored at the show were: Single-Family Builder Safety Program of the Year 11 to 100 home starts per year
Less than 50 employees
NAHB provides members and others in the residential construction industry — including non-English and limited English-speaking employees and trade contractors — with information, guidance and access to training resources to help them protect employees' health and safety. A variety of safety resources and guidebooks, including the NAHB-OSHA Jobsite Safety Handbook: English-Spanish Edition, can be purchased through www.builderbooks.com. For more information on the SAFE awards or NAHB safety training programs, e-mail Lindsay Cather at NAHB, or call her at 800-368-5242 x8163. FEMA Revises Bulletins on Building in Flood Hazard AreasThe Federal Emergency Management Agency (FEMA), with input from NAHB and other organizations, has revised and expanded four of its technical bulletins aimed at meeting flood damage-resistance requirements under the National Flood Insurance Program (NFIP) for buildings and structures in mapped flood hazard areas. The International Building Code (IBC), the International Residential Code (IRC) and the rest of the I-Codes include provisions for building design and construction that apply in these areas. These provisions are consistent with NFIP regulations. In the IBC, flood loads are addressed primarily in Section 1612, which references ASCE 24, “Flood Resistant Design and Construction.” In the IRC, the bulk of the flood provisions are in Chapter 3. The technical bulletins that have been revised by FEMA’s Building Sciences Branch over the last year are:
Topics covered in other technical bulletins include: non-residential floodproofing requirements and certification, elevator installation, below-grade parking requirements, wet floodproofing requirements, corrosion protection for metal connectors, ensuring that structures on fill in or near special flood hazard areas are reasonably safe from flooding, and crawlspace construction. The bulletins are available from the FEMA warehouse at 1-800-480-2520; or click here to download them. For more information, e-mail Ken Ford at NAHB, or call him at 800-368-5242 x8228. Social Media Are the Future of Marketing New HomesNearing the end of the first decade of the new millennium, social media sites are playing a defining role in the next generation of Web applications. Facebook.com has more than 120 million active users. The new kid on the block, Twitter, already boasts more than five million unique visitors each month, according to Internet researcher ComScore Inc. For live interactive video, Justin.tv reports more than one million users, many of them utilizing the site to broadcast events and their daily lives in real time. Clearly, the sales and marketing segment of the real estate industry needs to be capitalizing on these tools, and others. In today’s depressed market, however, their greatest value may not be just their impact, but their cost, which is incredibly small or none at all. “Builders can do these things on their own, and that’s the great thing about the Internet and Web 2.0 — there are a number of tools that people already in the company can manage,” said Mike Lyon, of Do You Convert?, a leading expert, consultant and blogger on integrating online marketing tools into a builder’s overall sales strategy. “With the focus on simply engaging customers through these avenues, there are many paths toward getting great results,” he says. “It’s all about joining the conversation and builders taking advantage of the tools they need to succeed.” Venturing forth into the Internet to use social networking as a marketing tool can be a daunting prospect. As popular as these sites are, there’s a sense that their rules of conduct are still being written. Here are a few specific tips on navigating the brave new world of social media and engaging a new audience in a leading-edge space:
Carol Ruiz is vice president of public relations for red rocket LA and is responsible for managing the company's public relations team, client and media relations and new business development. Ruiz has nearly 20 years experience in real estate-related PR. On behalf of her clients, Ruiz has established relationships with editors nationwide and has garnered press in such publications as The New York Times, USA Today and The Los Angeles Times, as well as in the real estate industry publications critical to her clients’ businesses. Credit Crisis Threatens to Put Rental Housing in Short SupplyThe current turmoil in the capital markets is jeopardizing the production of quality rental housing across the country, including the development of sorely needed affordable apartments financed with Low Income Housing Tax Credits (LIHTs), according to multifamily apartment owners and developers who spoke last month at the International Builders’ Show in Las Vegas. “Everybody in the housing industry was hoping that multifamily would continue to be the bright spot, but that’s not happening,” said Steve Lawson, president of The Lawson Companies, Virginia Beach, Va. “The credit markets have turned upside down on us.” Underwriting standards have become “extremely difficult,” he said, and it now takes two to three times the amount of equity to do a project because “lenders aren’t willing to take on additional risk.” Market-rate rental communities coming through the pipeline have slowed to a trickle, and that poses sobering implications for meeting the housing needs of the growing number of younger households in coming years who will just be entering the housing market and will disproportionately rely upon rental housing until they become more established in their jobs and careers. “Multifamily projects take longer to design and build than single-family homes, so it’s important to have a development pipeline,” said Lawson. “In the next few years, the huge Generation Y age cohort — people now in their early 20s — will begin entering the housing market, and they won’t be able to find apartments. We won’t be able to just turn the spigot on to meet their demand.” From start to finish, multifamily buildings can take two to three years to produce, or even longer, Lawson said. The situation with affordable apartments is just as bad, if not worse, according to Robert Greer, president of Michaels Development Co. in Marlton, N.J. “Despite a demand for our product that far exceeds the supply, affordable apartment developers are finding it nearly impossible to assemble the necessary capital to move forward with their projects,” said Greer, whose company has built more than 40,000 LIHTC units over the past 30 years. “Putting together deals that make sense is more difficult now than it has ever been – primarily because the program’s biggest investors of the past — Freddie Mac, Fannie Mae and large banks — have been sidelined.” The investors who previously bought the credits “are not making profits so they’re not seeking credits to offset profits,” he said. Greer said he now has to sell the credits directly to banks, and where it used to take one or two financing sources, it now takes five or six, or more, including heavier reliance on state agencies and city government. “The LIHTC program works,” said Lawson. “But the credit crisis has reduced potential buyers of the credits by about two-thirds. We have lots of supply and no demand, so prices are plummeting.” Bernard Markstein, NAHB’s staff vice president of forecasting and analysis, said that if frozen credit markets don’t start to thaw, or job losses continue to accelerate, NAHB could ratchet down its forecast for multifamily starts even further than it already has. “Right now, we are forecasting 188,000 multifamily starts in 2009,” he said, down more than 100,000 units from 2008. The multifamily market, already under pressure from the excessive inventory of unsold single-family homes and condos on the market, is now also feeling the impact of today’s deepening recession. The sharp decline in multifamily production is worrisome, according to Markstein, because annual starts have hovered between 250,000 and 350,000 units for more than a decade. “The stability in the starts over such an extended time indicates that it is a sustainable level of development,” said Markstein. “You can argue that the product mix between condos and rentals got skewed during the housing boom, but you can’t say that there was overbuilding in the multifamily sector. Given long-term population and job growth, the need for future rental and condo units would support a return to previous production levels.” For more information, e-mail Ann Marie Moriarty at NAHB, or call her at 800-368-5242 x8350. Multifamily Amenities on the Rise as Unit Size ShrinksAt the same time as individual living spaces are getting smaller in apartment and condominium buildings, the space allocated to shared amenities is on an upswing and being used in new ways, according to multifamily architects appearing at last month’s International Builders’ Show in Las Vegas. The mail room, they said, may share space with a cyber café or a coffee lounge. Theatre spaces are being expanded to also offer interactive video game areas, with Wii or Guitar Hero available to residents. Pools are becoming more than just pools, offering adjacent dog-washing facilities, or a snack and juice bar. And views are important: passers-by on the sidewalk should see activity and people, and residents should be able to look out and see activity also — along the street or in the pool area. Bold colors and eye-catching shapes — inside and out — also tell the younger Generation Y residents who have become the focus of new multifamily development that the community is a vibrant, lively place to live. For members of Gen Y, the multifamily community is less a home than a “base of operations.” Everything in the neighborhood — including nearby transit options — is vital to the out-and-about lifestyle of this group. Mixed-use communities start at the front door, and location has more to do with proximity to a lifestyle than being “close to work.” Development Strategies for Hard Times The bigger the project, the more difficult it is to finance — especially these days, the architects said. So many developers are exploring what’s possible with wood frame construction, up to five stories. Developers are getting the most out of urban sites, wrapping buildings around parking structures or pool courtyards, or building all the way to the sidewalk, giving some ground floor units front porch stoops. Some developers are diversifying into the active-adult rental market (another market, surprisingly, that’s fond of Wii and interactive games). Building smaller communities on smaller sites with a limited number of units is another approach that’s working for many. Top Trendsetter Picks The presenters each chose a community that impressed them as an indicator of trends the industry can expect to see a lot more of in the future:
New Data Confirm Low Number of Children in Multifamily HomesA new report from NAHB researchers confirms that there are considerably fewer children per unit in multifamily housing than in single-family detached homes. There are 32.6 school-age children per 100 households in multifamily structures, compared to 58.8 in single-family detached homes, 42.9 in single-family attached homes and 50.2 in manufactured housing units, the study found. “A traditional explanation for the differences is that families with children have a preference toward homes with backyards that the children can play in,” the researchers said. The report follows up on results published in NAHB’s Multifamily Market Outlook in 2004 that were based on the HUD/Census Bureau American Housing Survey, which is published every other year. The latest research was derived from data in the Census Bureau’s American Community Survey, which comes out every year. Among other findings in the recent study:
“When local governments make plans for new residential development, it is important that they take these factors into consideration when estimating the impact on their education budgets,” the report says. “To get a complete picture of the budgetary impacts, local governments should also take the benefits of new construction — including income and jobs for local residents, as well as increased taxes and other forms of government revenue — into account," the researchers say. Estimates of these local economic benefits for general multifamily housing in a typical metropolitan area were last published in the October 2005 issue of Multifamily Market Outlook. Estimates of the benefits of tax-credit multifamily development were last published in the October 2007 issue. For more information, e-mail Paul Emrath at NAHB, or call him at 800-368-5242 x8449. Log Home Council Celebrates New Lincoln Log Cabin PennyIn appreciation of the release of a new Lincoln penny by the United States Mint featuring Abraham Lincoln’s log cabin on the flip side, the Log Homes Council is donating 100,000 of the coins — or $1,000 — to the Abraham Lincoln Bicentennial Commission (ALBC), the group that was heavily involved in the creation of the new currency. The ALBC is celebrating the Lincoln Bicentennial across the country this year, with events already planned in Washington, D.C., Pennsylvania, Illinois and Indiana. To commemorate the role of the log home in Lincoln’s life and American history, the Log Homes Council is hosting a Lincoln birthday party next to the Lincoln Memorial in Washington., D.C. on Feb. 12 — with birthday cakes donated by local bakeries and a program recognizing the council’s donation to the ALBC. The $1,000 donation is the annual LHC Heritage Grant, which is given by the LHC president to an organization that is uniquely tied to preserving the heritage of log homes in the United States. The donation stems from 2008 president Rob Cantrell’s oversight of the LHC. Many prominent government officials have been invited to ALBC’s day-long celebration on Lincoln’s 200th birthday, including President Barak Obama, House Speaker Nancy Pelosi (D-Calif.) and members of Congress. Being released this month, the first coin in the Lincoln commemorative series marks the President’s birth and early childhood in Kentucky with an image of the modest one room log cabin where he was raised. “The creation of the new Lincoln penny is an exciting event for the log home industry,” said Rob Cantrell, co-LHC president and president of StoneMill Log Homes in Knoxville, Tenn. “Log Home Council manufacturers take pride in the unique connection they have to the history of home building in the United States. Acknowledging Lincoln’s log cabin on a U.S. coin makes us proud to be carrying on this age-old building practice.” Log home building has become much more intricate and efficient since Lincoln’s time, Cantrell added. “It is amazing to step back and see how far the log home industry has come in the past several decades, let alone past centuries,” he said. “With techniques like log grading and specialized fastening systems, today’s log homes are able to offer consumers structurally sound, energy-efficient homes that still manage to capture the rustic charm that log homes have had for generations.” For more information, e-mail Tony Gacek at NAHB, or call him at 800-368-5242 x8357. 2009 BSC Chair Weber to Promote Advantages of Building SystemsConfirmed last month at the International Builders’ Show in Las Vegas, Michael H. Weber, a representative of Lancaster Redevelopment Corporation, is the 2009 chairman of NAHB's Building Systems Councils (BSC). Weber has an extensive and diverse background in building systems. He came to the panelized building industry after nearly doubling the market share of concrete homes in North America as residential director at the Portland Cement Association. He was named one of the 10 most influential people in the concrete industry by publisher Hanley Wood. Weber will focus this year on increasing the presence of the BSC in the marketplace. "In today's troubling housing market, builders are looking for ways to survive," said Weber. "All systems-built technologies can offer builders a way to diversify their businesses, reduce their overhead costs and focus on generating sales." Weber added that he wants to find new ways to reach builders to show them how building systems can help provide building solutions. He will rely heavily on his new vice chairman, Victor DePhillips, to help spread this message. DePhillips is president of Signature Building Systems, a modular manufacturer in Moosic, Pa., and is a past chair of the BSC. As vice chairman, DePhillips will oversee the BSC Sales and Marketing Committee. "Now more than ever, residential builders need to consider a business strategy involving building systems," said DePhillips. "It can allow them the ability to offer quality, green homes to their customers, while operating with limited support staff. In some cases, a switch to systems can save their company." Weber takes over the BSC reigns from Gary Grossman of Forest Homes, who is this year's immediate past BSC chair. A majority of the BSC's 21 seats on the NAHB Board of Trustees have been filled. A complete list will be published in The Systems-Built Advantage once the final appointments have been made. For more information, e-mail Tony Gacek at NAHB, or call him at 800-368-5242 x8357. Boost Business, Skills During National Designation MonthNAHB members and other building industry professionals can jump-start or complete their designations during National Designation Month this month, now in its seventh year and sponsored by The NAHB University of Housing. The designation coursework enables members to hone their business and professional skills and convey to their clients the superior training, practical experience and in-depth knowledge that come with earning an NAHB designation. NAHB offers 16 professional designations covering industry basics such as business management and marketing, as well as specialized classes including aging-in-place programs, green building, property management and more. Designations for industry niche areas ― such as remodeling, multifamily and sales and marketing ―are offered in addition to the Certified Graduate Associate (CGA), a designation for suppliers, service providers and other people who work with builders. Click here to view a complete list of designations. Take Advantage of Networking Designation holders can take advantage of valuable networking opportunities throughout their enrollment, working closely with expert instructors and other professionals both within their field and outside their specific areas of expertise. Recognition events are held annually for designees at the International Builders’ Show. Local home builders associations that offer education often hold special events and promotions during National Designation Month. Members should check with their local HBA. For more information on National Designation Month, visit www.nahb.org/ndm, or call the Professional Designation Help Line at 800-368-5242 x8154. New NAHB Consumer Brochures Tout Value of Designations
New consumer brochures from NAHB tout the benefits of hiring a Certified Aging-in-Place Specialist (CAPS), Certified Graduate Builder, Graduate Master Builder, Certified Graduate Remodeler or Graduate Master Remodeler and can be used to help NAHB designation holders increase their recognition and set themselves apart from their competition.
The brochures highlight the rigorous training and knowledge required to earn an NAHB designation. Publicizing designations can be an effective way for builders and remodelers to differentiate themselves in a crowded marketplace, particularly in the current business climate.The brochures are available for purchase. For more information and to order the brochures, e-mail Starsha Valentine at NAHB, or call her at 800-368-5242 x8155. Four IBS Attendees Win ‘Tools’ at University of Housing BoothFour visitors to The NAHB University of Housing booth at the International Builders’ Show in Las Vegas last month won top tools after entering the annual drawing at the show. The drawing’s grand prize winner, Monte Wenzel of Indiana, won a truck box, compressed CO2 regulator and a multi-function air tool kit from Kobalt and his choice of three power tools from Bosch, DeWalt, Hitachi and Porter-Cable. The three daily winners ― James Doman of Maryland, Rick Nicholls of Ontario and Lonny Rutherford, CGR, CAPS, CGP, of New Mexico ― won their choice from the power tools selection. In addition to the drawings, The NAHB University of Housing also offered booth visitors the 2009 NAHB University of Housing Education Guide, brochures for all of NAHB’s professional designations and upcoming national conferences, and sticky notes branded with The NAHB University of Housing logo. A virtual version of the 2009 Education Guide can be accessed at www.nahb.org/Education. For more information on The NAHB University of Housing’s designations, courses and conferences, visit www.nahb.org/Education. Education Calendar
Learn More About Upcoming Conferences and Designations Interested in attending a University of Housing conference or learning more about NAHB designation programs? Visit www.nahb.org/notifyme, and sign up to receive more information.
Free NAHB Kit Gives Builders Back-to-Basics Tips to 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. Atlantic City Builders Convention Focusing on GreenRegistration is now open for the Atlantic Builders Convention, which this year will focus on green products and services for home builders and remodelers. Sponsored by the New Jersey Builders Association, the event is the largest trade show of its kind in the Mid-Atlantic region. ABC takes place April 22-24 at the Atlantic City Convention Center. “In this challenging economic climate, companies are looking for ways to reduce expenses and minimize waste,” said ABC chair Jeanne Tomlinson. “The products and practices featured by our ‘green’ exhibitors and seminars will help attendees realize cost-savings ways to have a positive impact on our environment, and that’s a win-win situation.” The HBA plans to offer the University of Housing Green Building for Building Professionals course as part of the trade show activities. The course is required for the Certified Green Professional educational designation. Green building verifiers, energy consultants and other green building professionals also plan displays and seminars. The New Jersey BA is taking advantage of green practices in its planning and preparation for ABC. Convention registration is online at www.abconvention.com, the majority of its marketing efforts are being done electronically, bus trips are being coordinated and promoted for transit to the show, trolley service is being offered for show participants from the host hotels to the convention center, exhibit floor furnishings and props are made from ecologically-friendly products and name badges are being recycled following the show’s conclusion. The Atlantic City Convention Center is also going green, featuring the largest single roof-mounted solar array in the U.S., the incorporation of energy conservation practices throughout the facility, the use of energy generated by local wind turbines and incorporation of facility-wide recycling efforts. The deadline for vendors to be featured in the show guide is Feb. 13. For more information about exhibiting at or sponsoring the convention, e-mail Irene Opitz at the New Jersey Builders Association. Legal Action Grants Support Wetlands, Density CasesAt its Jan. 19 meeting during the International Builders’ Show in Las Vegas, the NAHB Legal Action Committee recommended grants from the association’s Legal Action Fund (link is for members only) to support cases involving federal wetlands law, a municipality abusing its power during the development approval process, and more. The fund was created to ease the burden on NAHB members and home builders associations of pursuing expensive and time-consuming cases involving nationally significant issues or legal matters commonly faced by builders and developers. Among the more interesting cases approved last month by the NAHB Executive Board for funding:
The deadline for applications for the upcoming board meeting in Washington, D.C. in May is April 14. Click here to download applications and guidelines from the members-only pages of NAHB's Web site. For more information on the grant program, e-mail Mary Lynn Huett at NAHB, or call her at 800-368-5242 x8485. For information on filing an application to the fund, contact Christopher Whitcomb x8329. Loring Job Corps Graduate Wins Wiseman AwardAt the Jan. 21 NAHB Joint Executive Board Meeting during the International Builders’ Show (IBS) in Las Vegas, Shianne Valenzuela, a 2002 graduate of the Home Builder’s Institute's Loring Job Corps Center, was presented with the Shirley McVay Wiseman Award for Exceptional Promise. The award is presented annually by former NAHB President Shirley McVay Wiseman to an outstanding female Job Corps graduate who has gone on to achieve success in the home building industry. Before enrolling in Job Corps, Valenzuela struggled to find a career. She eventually landed a job as a “water girl” for the California Conservation Corps. Demonstrating the work ethic that would win her the Wiseman award, she quickly moved up the ranks to the position of crew supervisor. By the time she left, she was the only employee licensed to operate the Skill 66 Saw, which is used to log California’s largest trees. Following in the footsteps of her grandfather and other relatives, Valenzuela decided to pursue training in the electrical field. She moved to Maine and enrolled in HBI instructor Otis May’s electrical class. May recognized Valenzuela as “a model student who demonstrated she had the skills to be a successful electrician from the first day she walked into class.” Valenzuela refers to her enrollment in Job Corps as a major turning point in her life. “Job Corps and my instructor, Otis May, gave me the skills I needed to pursue the career of my choosing, which has ultimately led to my happiness.” Valenzuela is currently a member of the IBEW in Maine and thinks of one day emulating her instructor by making an impact on the lives of young people. At the ceremony, Wiseman presented Valenzuela with a $1,000 check from 2-10 Home Buyers Warranty, which sponsors the award. Valenzuela received a standing ovation. Valenzuela also received more than $1,400 worth of tools from Lowe’s Home Improvement. For more information, e-mail Maria McIntyre at HBI, or call her at 800-795-7955 x8912. Job Corps Landscaping Student Receives President’s AwardCharles Geralds, a 2007 graduate of the Home Builder’s Institute's Old Dominion Job Corps Center in Virginia, was presented with the NAHB President’s Award at the Jan. 21 NAHB Joint Executive Board Meeting during the International Builders' Show in Las Vegas. The award was presented by 2008 NAHB Chairman Sandy Dunn and goes annually to an outstanding Job Corps graduate who has overcome challenges and is buidling a successful career in the home building industry. Geralds was the youngest Job Corps alumnus and the first landscaping student to receive the award. After graduating from Job Corps, he went to work for TrueGreen Lawncare in Staunton, Va., where in his first year of employment he became one of the top 10 in sales in the company’s Mid-Atlantic Division. Instructor Mark Campbell called Geralds a “true leader and a classic overachiever. He completed his required course work fairly quickly and went on to complete every competency HBI offers in the landscaping trade.” While on the Old Dominion campus, Geralds also found time to mentor fellow students in both trade and life skills. “Charles made my job much easier,” added Campbell. At the ceremony, Dunn presented Geralds with a $1,000 check. Lowe's Home Improvement gave Geralds more than $1,400 worth of Kobalt tools. In his brief remarks during the ceremony, he thanked HBI, NAHB and Job Corps for helping him establish his landscaping career. A past recipient of financial assistance from the HBI/Lowe’s Building Careers Scholarship Fund, he was especially grateful to Lowe’s for enabling him to relocate to his job at TrueGreen in Staunton. For more information, e-mail Maria McIntyre at HBI, or call her at 800-795-7955 x8912. Fire Sprinklers Raise Need for Moisture-Resistant Products
With fire sprinklers this year starting to be written into the International Residential Code (IRC) for one- and two-family homes, architects and builders should consider incorporating moisture-resistant products in areas of the home vulnerable to water damage and mold growth, according to Georgia-Pacific Gypsum. The additional plumbing required for fire sprinklers can increase the risk of water intrusion from leaky pipes and fixtures or even as a result of the sprinklers being set off accidentally, according to the manufacturer. Unlike traditional paper-faced gypsum panels that are highly absorbent, Georgia-Pacific’s DensArmour Plus High Performance gypsum panels feature fiberglass mats front and back that make them moisture- and mold-resistant. When mold resistance is tested in accordance with ASTM D 3273, Georgia-Pacific says, DensArmour Plus panels have earned a 10, which is the highest rating. “Using fiberglass mat gypsum panels from Georgia-Pacific Gypsum is an integral part of any successful moisture-resistance or preparedness building strategy, as it features multiple benefits for the construction teams as well as the home or business owner,” Georgia-Pacific says. “Moisture- and mold-resistant DensArmour Plus gypsum panels can help mitigate the risk of costly repairs should the sprinkler system be set off,” the company says. Additionally, to support better indoor air quality, the panels are GREENGUARD Indoor Air Quality Certified for low chemical emissions and are GREENGUARD listed as microbial-resistant. Georgia-Pacific notes that not every municipality has adopted the IRC codes. “However,” it says, “many have or have plans to in the near future. Overall, it is imperative to increase industry awareness of the coming IRC changes, to communicate proper installation methods and innovative building materials that help the building industry remain competitive and apply better building practices sooner. Click here to check the status of the code changes in individual municipalities, and then click on the I-Code Adoptions link. Headquartered in Atlanta, Georgia-Pacific Corporation is a member of the National Council of the Housing Industry — The Leading Suppliers of NAHB. This feature is solely for educational and informational purposes. Nothing on this page should be construed as policy, an endorsement, warranty or guaranty by the National Association of Home Builders of the featured product or the product manufacturer. The National Association of Home Builders expressly disclaims any responsibility for any damages arising from the use, application or reliance on any information contained on this page. NAHB-Produced Programs on DIY, Fine Living and HGTVThe NAHB Production Group produces weekly television shows on DIY, Fine Living and HGTV for consumers. The following is the latest lineup: "Rock Solid" on DIY
"I Want That" on Fine Living
HGTV Seeking ‘Dream Home’ Builder/Architect Teams HGTV is seeking developers, builders and architects to create dream homes for the network’s Dream Home Sweepstakes. To learn more, click here. About the NAHB Production Group The NAHB Production Group is a full-service, self-contained, media production unit creating programming for cable television, broadcast television, non-profit, museum and corporate clients. Productions range from magazine format shows for general audiences to museum-installation videos for specialized use. The production group includes award winning journalists, writers and photographers with experience in broadcast, documentary and corporate television. Free NAHB Kit Gives Builders Back-to-Basics Tips to 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. Lee Evans Scholarship Fund Awards $58,000 to 16 Students
The Lee S. Evans Scholarship Committee awarded $58,000 to 16 worthy students. The scholarship recipients include:
“Lee and Virginia Evans started this scholarship to provide the most outstanding students studying construction management with industry recognition for their hard work and academic achievements,” said Evans Committee Chair Bruno Pasquinelli, CEO of Pasquinelli Construction Co. “This scholarship has come to mean so much to the recipients, many of whom would not be able to pursue their educations without such financial assistance. I and the Lee Evans Scholarship Committee are proud to serve as stewards of Lee’s and Virginia’s vision.” The scholarship determinations were made by the Evans Scholarship Committee. Committee members included Pasquinelli; Brenda Eid, founder of BJ Eid Associates; William Hauke, president of Hauke Building Supply: Carole Jones, of Robert R. Jones Associates; Mark Lee Levine, director and professor of the Burns School of Real Estate and Construction Management at the University of Denver; Roger Reinhardt, executive vice president of the Home Builders Association of Metropolitan Denver; and Chuck Shinn, of Shinn Associates. More Endowment Scholarship Programs The endowment administers 12 scholarship programs and awards more than $300,000 each year to hundreds of students pursuing careers in residential construction and related fields. For more information on these scholarships, visit the endowment Web site at www.nationalhousingendowment.org. Habitat Founder Millard Fuller Buried at Koinonia FarmMillard Fuller, the visionary whose ideas and tireless work created Habitat for Humanity, died on Feb. 3, following a brief illness. A preliminary autopsy suggested congestive heart failure. He was 74. On Feb. 4, Fuller was buried on Pine Hill at Koinonia Farm, a Christian farming community founded in 1942 in rural Southwest Georgia as a “demonstration plot for the Kingdom of God.” Millard and Linda Fuller made their way to that demonstration plot in 1965, and it is where the idea for Habitat for Humanity was born. Like his spiritual mentor and friend Clarence Jordan, Koinonia’s founder, Fuller was laid to rest in a simple box and has no headstone on his grave. Fuller led Habitat from its founding in 1976 until his separation from the organization and his founding of the Fuller Center for Housing in 2005. “Millard Fuller was a force of nature who turned a simple idea into an international organization that has helped more than 300,000 families move from deplorable housing into simple, decent homes they helped build and can afford to buy and live in,” said Jonathan Reckford, chief executive officer of Habitat for Humanity International. “The entire Habitat family mourns the loss of our founder, a true giant in the affordable housing movement,” said Reckford. “Our prayers are with the entire Fuller family.” By the time Millard Fuller turned 29, he had earned his first million dollars as an entrepreneur and attorney. But as his finances flourished, his health and marriage crumbled. To save their marriage, the Fullers decided to begin anew. They sold all that they owned, gave the money to the poor and in their searching, landed at Koinonia where they began soaking up the teachings of Jordan, who was a farmer and theologian.
In time, Jordan and Fuller launched a program of “partnership housing,” building simple houses in partnership with rural neighbors who were too poor to qualify for conventional home loans. The first house was dedicated in 1969 and others soon followed. In 1973, the Fullers took the concept of partnership housing to Africa. Within a few years, simple concrete-brick homes were replacing unhealthy mud-and-thatch homes, and Fuller had the idea of spreading the concept to the rest of the world. In 1976, the Fullers returned to the U.S. and launched Habitat for Humanity International. By the organization’s 25th anniversary, tens of thousands of people were volunteering with Habitat and more than 500,000 people were living in Habitat homes. Members of NAHB have been long-standing participants in and supporters of Habitat home building efforts. “Habitat for Humanity has long had a wonderful partnership with the National Association of Home Builders,” Fuller said in May 2003 when NAHB board members and their families participated in the association’s first “Family Build” of Habitat homes in the Washington, D.C. area. “That partnership has been expressed in house sponsorship, providing crew and house leadership to help with the actual construction of houses and in making available overall leadership to the work of Habitat for Humanity. Now the board members are going a step further in strengthening the bond between NAHB and Habitat for Humanity. We are enormously grateful.” “Habitat for Humanity and NAHB have had a long and fruitful relationship through the years,” said Kent Conine, who was the association’s president that year. “Our members support Habitat for Humanity in diverse ways, and what our members have discovered is that what they receive from working with Habitat far outweighs what they provide.” Among his numerous awards, Fuller was induced into NAHB’s National Housing Hall of Fame in 1996, and in 1999 he was named by Builder magazine as one of the 100 most influential people in home building in the U.S. “Millard Fuller’s drive and relentless commitment to affordable housing captured people’s imagination and changed lives around the world,” said J. Ronald Terwilliger, chair of Habitat for Humanity’s International Board of Directors. “His inspiration lives on in Habitat’s work and through its employees, volunteers, partner families and supporters. We extend our sincere condolences to the Fuller family and are keeping them in our thoughts and prayers.” Fuller is survived by his wife and four children. Protect Your Customers' Credit Card InformationBusinesses that accept credit cards are required by federal law to insure that their point-of-sale system excludes or truncates the expiration date and all but the last four or five digits of a credit card number on their customers’ sales receipts. Truncation protects customers from identity theft and losing their credit card number if they lose their receipt. Just as important, it protects merchants from incurring fines and potential lawsuits if a customer's un-truncated data is stolen. Following are examples of a truncated and an un-truncated receipt:
Not following the federal Fair and Accurate Credit Transactions Act (FACTA) now in effect can result in severe penalties (FACTA’s grace period ended June 8, 2008). The Visa/MasterCard penalties for merchants who continue to print non-FACTA compliant receipts range from $5,000 for a first violation to $50,000 for a fourth violation and $500,000 a month for a willful or egregious violation. Federal and state penalties may also be collected. A dissatisfied customer or credit card company agent can report an un-truncating establishment to authorities. In addition to the fines, the non-compliant business may also be prevented from accepting credit cards in the future or even potentially be shut down. What You Can Do Check your point-of-sale systems and the receipts issued to customers to make sure they comply with both the account truncation and the expiration date removal requirements. If you determine that you are not complying, call your current merchant account provider or contact NAHB’s credit card processing partner, Solveras Payment Systems. Solveras will determine if your current machine has the ability to truncate. They can also determine how much you could save on processing costs (NAHB members saved an average $1,858 in 2008). For more information, call Solveras at 800-613-0148, or visit www.solveras.com/nahb and complete the request form.
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.
Drive Away With a Shiny New $500 GM OfferNAHB members can receive $500 towards the purchase or lease of most new GM passenger cars, light-duty trucks, vans and SUVs — whether for business or personal use.
For complete details, visit www.gmfleet.com/nahb. The program runs through Jan. 4, 2010. For more information, e-mail Tiffany Lindsley at NAHB, or call her at 800-368-5242 x8273. Other Member Advantage Discounts For the most up-to-date details on the Member Advantage discount program and all of the participating companies, go to www.nahb.org/MA.
Free NAHB Kit Gives Builders Back-to-Basics Tips to 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. NAHB Members Can Save Big on FedEx Shipping ServicesNAHB members can receive valuable discounts of up to 29%* on select FedEx shipping services:
For questions or additional information, call 1-800-MEMBERS (800-636-2377) between 8:00 a.m. and 6:00 p.m. EST Mondays through Fridays to speak to a dedicated member service representative. *FedEx shipping discounts are off standard list rates and cannot be combined with other offers or discounts. Shipping discounts are exclusive of any FedEx surcharges, premiums or special handling fees and are not available to package consolidators. Eligibility for discounts subject to FedEx credit approval. Eligible services subject to change. Base discounts on FedEx Express® are 19-24%. An additional 5% discount is available for eligible FedEx Express shipments when you ship online at fedex.com. Discounts are subject to change. Other Member Advantage Discounts For the most up-to-date details on the Member Advantage discount program and all of the participating companies, go to www.nahb.org/MA.
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. NAHB Members Can Get 10% Off Stays With Wyndham Hotel Group
NAHB members can get 10% off the “best available unrestricted rate"* at all participating Wyndham Hotel Group (WHG) hotels — Wyndham Hotels and Resorts, Wingate by Wyndham, Super 8, Days Inn, Ramada Worldwide, Travelodge, Howard Johnson, Baymont Inn & Suites, Knights Inn and AmeriHost Inn. The Wyndham Hotel Group represents nearly 6,500 hotels and more than 535,000 hotel rooms on six continents. Through the NAHB Member Advantage program, NAHB members can get a 10% discount off the hotel chain’s best rate, its brand Internet rate. To Register To use the program by phone, call 877-670-7088 and give the agent the NAHB discount ID number 20090. The NAHB discount will be applied at the time the reservation is made. To book rooms online, visit the Wyndham Hotel Group page of the Member Advantage discount pages on the NAHB Web site by clicking here and follow the simple steps to make your reservation. The Web pages also enable you to review key hotel amenities, hotel descriptions and directions. *“Best Available Rate” is defined as the best, non-qualified, publicly available rate on the Internet for the hotel, date and accommodations requested. The discount for International properties may be less than or equal to 10% off Best Available Rate. Certain restrictions apply. To redeem this offer, click our URL link on Organization’s website or call the hotel brand phone number above and give ID at the time of reservation. Offer not valid if hotel is called directly, caller must use toll free numbers listed provided. Advanced reservations are required. Offer is subject to availability at participating locations and some blackout dates may apply. Offer cannot be combined with any other discounts, offers, or special promotions. Discounts vary by location and time of year. Offer is void where prohibited by law and has no cash value Other Member Advantage Discounts For the most up-to-date details on the Member Advantage discount program and all of the participating companies, go to www.nahb.org/MA.
Free NAHB Kit Gives Builders Back-to-Basics Tips to 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. Calendar of Events
Learn More About Upcoming Conferences and Designations Interested in attending a University of Housing conference or learning more about NAHB designation programs? Visit www.nahb.org/notifyme, and sign up to receive more information.
Free NAHB Kit Gives Builders Back-to-Basics Tips to 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. |