Nation's Building News Online: August 3, 2009Print All Articles Text Version |
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Clock Running Down on First-Time Home Buyer Tax CreditWith the clock running down on the $8,000 tax credit for first-time home buyers and less than four months to go, builders are urging qualified prospective buyers to start the sales process long before the Nov. 30 deadline. Faulty appraisals that have been using foreclosed properties as comparables for new homes have been slowing down the sales process in many instances, builders warn, creating hiccups in the financing stage that can often push the closing date much later than originally expected. First-time buyers should also anticipate tighter lending standards that generally don’t allow 100% financing, making buyers responsible for coming up with enough money prior to their purchase to meet required downpayment and closing costs. For these two reasons alone, young families considering becoming home owners should be advised to start the process long before they put a bid on a new home. As part of that effort, builders can provide key educational information on the home buying process — including financing and closing — that their customers need to ensure that they occupy their new home in time to claim the tax credit. Assistance on Upfront Costs Available in 16 States For home buyers who need assistance with downpayment and closing costs, some state housing finance agencies are able to provide a short-term loan based on the home buyer’s qualification for the federal tax credit. Sixteen state housing finance agencies — in Colorado, Delaware, Florida, Idaho, Illinois, Kentucky, Massachusetts, Missouri, Nebraska, New Jersey, New Mexico, Ohio, Pennsylvania, Tennessee, Texas and Virginia — are participating in loan programs to help facilitate home sales for first-time home buyers in their area. Each state is different and qualifications and restrictions vary among the programs. Home buyers should be warned, however, that there are organizations or individuals who are providing this service who are not legally permitted to do so. If the organization is a unit of state government, such as a state housing finance agency, it is safe to say that it is reputable. Otherwise, a home buyer should check with their local Better Business Bureau or through a state or local government’s department of consumer affairs to ensure that the program they are working with is legitimate. Remind Buyers of Requirements, Special Circumstances Although the tax credit has three requirements listed for home buyers to qualify — status as a first-time home buyer, timeframe in which the home must be purchased and income limits — it is sometimes not that simple. Specific situations — such as those involving the sale of a home between related individuals or prior ownership of a mobile home as a primary residence — may result in a buyer’s disqualification from claiming the credit. In a statement released last week, the Internal Revenue Service (IRS) warned taxpayers to beware of first-time home buyer tax credit fraud. Home buyers who may be unsure of their status on claiming the tax credit should seek professional advice from a certified public accountant or an enrolled agent licensed by the federal government. Home buyers who may need additional information can find answers to frequently asked questions about the tax credit at www.federalhousingtaxcredit.com. For further information, e-mail Brooke Fishel at NAHB, or call her at 800-368-5242 x8061; or contact Rob Dietz, x8285. NAHB Asks Bank Regulators for Prompt Action on Faulty AppraisalsIn a July 27 letter, NAHB has asked banking agencies for guidance to instruct appraisers on the proper procedures for using distressed or foreclosed properties as comparables in new single-family home appraisals. “We have noticed that some appraisers are frequently using distressed and foreclosed property sales as comparables in conjunction with appraisals on single-family home sales without properly adjusting the comparable property values to reflect the relative conditions of the properties,” the letter said. This practice, the letter complains, often results in undervaluing new properties for sale and “contributes to the continuing downward spiral in home prices, forestalling the economic recovery.” The letter was delivered to Comptroller of the Currency John Dugan; Sheila Bair, chairman of the Federal Deposit Insurance Corporation; Ben Bernanke, chairman of the Federal Reserve System; and John Bowman, acting director of the Office of Thrift Supervision, and also sent to the Democratic and Republican leaders of the Senate Banking and House Financial Services committees. Initiated and coordinated by NAHB, the letter was also signed by the American Bankers Association, the Independent Community Bankers of America and the Mortgage Bankers Association. In the correspondence, NAHB noted that appraisers normally cannot gain access to the interior of a home being used as a comparable and that they are only required to conduct exterior inspections of these properties. As a result, they are not determining if a foreclosed or distressed-sale property being used as a comparable has deferred maintenance issues or has suffered internal damage. “A prospective purchaser would most assuredly recognize the differences in the value proposition between a well-kept home and a distressed property that is damaged or not properly maintained and the same should be true of an appraiser,” the letter said. NAHB and the other organizations signing the letter asked for prompt action from the agencies responsible for bank regulation to correct the continuing improper use of distressed and foreclosed properties as comparables, including:
For more information, e-mail Bill Renner at NAHB, or call him at 800-368-5242 x8597. Compliance With Storm Water Rules Serious BusinessEven as the U.S. Environmental Protection Agency considers more stringent regulations on storm water management for construction sites, it remains important for builders and developers to comply with the rules now in place, according to storm water regulation expert Jennifer Hildebrand of Weis Builders Inc. and Washington area builder Chuck Ellison of Miller and Smith. The two appeared on a July 28 webinar by NAHB to discuss the storm water regulation challenges confronting the housing industry. “The EPA is taking compliance very seriously,” said Hildebrand, reminding participants of one settlement with the agency that cost a group of high-production builders more than $3 million in enforcement penalties. President Obama has proposed a 34% budget increase for environmental enforcement activities and the agency has more criminal investigators on staff than at any point in EPA’s history, she said. In addition, there are a growing number of citizen-led and environmental groups that are keeping a closer tab on construction activities to tip off regulators about alleged violations, Hildebrand said. Builders and developers must apply for a National Pollutant Discharge Elimination System (NPDES) permit for all sites that disturb more than one acre of land. Smaller sites also need to be permitted if they are part of a subdivision that ultimately disturbs more than one acre of land over the course of development. Some states and localities that administer storm water compliance programs on behalf of the federal agency might have more stringent rules; NPDES authority requires a local program to meet or exceed federal requirements. For the federal NPDES permit, builders must file a notice of intent, prepare a written plan that demonstrates how storm water and other discharges will be contained within the site (a Storm Water Pollution Prevention Plan, or SWPPP) and document all the measures taken to stabilize the site and prevent erosion. “These are the rules of the game,” Hildebrand said. The agency looks at the factors that influence erosion — rainfall and climate, soil erodibility, slope length and steepness, and cover and conservation practices. A rainfall erosivity calculator using the Revised Universal Soil Loss Equation is available to help builders determine whether they can get an erosivity waiver for their project or time the construction process to avoid the most runoff. The tool is also useful because it helps builders demonstrate their attempts at compliance — and helps avoid penalties, she said. Builders are responsible not only for the sediment that leaves their sites, but also for pathogens, like animal waste; construction debris and other litter; and contaminants such as sealants and chemicals used during the construction process. They can also be held liable if storm water leaving their site changes the temperature of the bodies of water it eventually enters, potentially harming fish and other acquatic life. The EPA has published a number of guides to help builders and developers abide by the many regulations, including a manual to help builders write an SWPPP. Hildebrand offered five keys to successful SWPPP compliance:
In addition to regulating the quantity of potential pollutants entering a body of water, the U.S. Clean Water Act — the source of NPDES regulation — can also regulate the quality of the water. To do so, regulators look at the Total Maximum Daily Load, which defines the amount of a particular pollutant that a body of water can absorb on a daily basis without violating water quality standards. States are responsible for determining which water bodies are “impaired” and can determine how much of a pollutant can be added to that water. The increasing emphasis on water quality is reflected in a recent EPA proposal released as a result of a lawsuit by environmental groups. For the first time, the construction and development industry soon faces effluent limit guidelines (ELGs) that include benchmarks for the turbidity, or clarity, of the water. NAHB has responded with comments on the new ELGs, reinforcing the importance of the techniques and procedures builders currently use to manage storm water runoff and citing the crippling expenses that the industry would incur from the additional maintenance and operation of equipment the agency is considering mandating. Some estimates place the additional compliance costs as high as $45,000 per acre. Hildebrand reviewed a number of existing techniques being used by builders — such as low-impact development, environmental site design and compliance with voluntary green building programs such as the National Green Building Standard, which includes storm water management issues in its site and lot development category. The webinar was the second in a series hosted by the NAHB Land Development Committee on regulatory and environmental topics. The presentation is available at www.nahb.org/ldelearning. For more information, e-mail Calli Schmidt at NAHB, or call her at 800-368-5242 x8132. High-End Homes Frozen Out of Budding Housing ReboundSales of existing homes priced over $750,000 accounted for 2.3% of all sales in the first quarter of this year, compared to 4.4% of the housing market in 2007, according to the National Association of Realtors®. But the distress in the high-end market has implications for consumer spending because the top 10% of U.S. households in terms of income accounted for 23% of all consumer spending in 2007, according to government statistics; as these households watch their home equity evaporate, they are more reluctant to spend on housing upgrades or other items. Overall, the nation’s inventory of unsold homes in June was enough to last 9.4 months at the current selling pace, down from 11 months a year ago, according to the Realtors®. But the supply of unsold homes priced above $750,000 swelled to around 17 months in June, up from a 14.5-month backlog one year earlier. A recent J.P. Morgan Chase & Co. forecast said it would take until at least 2012 for the expensive-home market to recover. Among prime mortgages, jumbo mortgages are now leading delinquencies and defaults and are the fastest-rising category for defaults of all types of mortgages. The rate of 60-day delinquencies on prime-jumbo mortgages jumped to 7.4% in May, from 4.5% in November, according to First American CoreLogic. By comparison, 60-day delinquencies on prime-conforming loans reached 4.9% in May, from 3.6% in November. In a recent survey by the Realtors®, nearly three-quarters of real-estate agents said buyers were purchasing smaller houses due to tighter credit requirements. “We’re in a ‘trade-down’ environment for the first time since the 1930s,” said Kenneth Rosen, chairman of the Fisher Center for Real Estate and Urban Economics at the University of California at Berkeley. (www.wsj.com)
Norwalkers Simplify Home TransitionsThe recession has spawned a whole new set of clients for Home Transitions, a business based in Norwalk, Conn., that provides people who are trying to “right-size” their homes with moving assistance, staging, organizing, de-cluttering and rearranging a home or room to make it feel “fresh.” Many people, the company’s owners said, are realizing they don’t need mansions with mega-sized floor plans. This is especially true of couples whose children have moved out. “The economy has dictated a need for this,” said co-owner Cathy Kraut. “They don’t need these big homes anymore. It’s downsizing. It’s right-sizing.” The trend toward smaller homes is confirmed by an NAHB survey in June in which 59% of the home builders said they were building smaller homes. (www.thehour.com)
Jewel-Box Homes Are Built Smaller, SmarterThe current recession, the downturn in the housing market and the emphasis on energy-efficiency all are playing into the “jewel box house” trend in which small homes are designed with top-quality materials, upscale detailing and custom built-ins. Tailored to the owners’ way of life, smaller houses suit a variety of demographic groups — including newlyweds, young professionals, empty-nesters and retirees. Huge houses with hotel-scale foyers, formal dining and living rooms and vast master suites with spa-style bathrooms are out of sync with the informal way Americans live today, says architect Sarah Susanka, author of “The Not So Big House.” In most houses, the kitchen is the heart, the place where family and friends gather. Americans take quick showers, they don’t luxuriate in soaking tubs. Not surprisingly, the home-furnishings industry is attuned to the downsizing trend, says Jackie Hirschhaut, vice president of marketing at the American Home Furnishings Alliance. Increasingly, manufacturers are making furniture that is smaller and more multipurpose: love seats instead of sofas, expandable dining tables, home-office armoires with fold-down work stations and compact corner units for big-screen TVs. (www.orlandosentinel.com)
Healthcare, Green Tech Brighten Dim U.S. Job PictureDemand for green retrofitting, home weatherization and solar-energy panel installation has lagged due to tight cash and credit on the part of recession-battered home owners and businesses. “I’m struggling just to keep my door open,” said Alan Abrams, owner of a remodeling and construction firm in Washington, D.C., who recently took a crash course in green design from NAHB. “The manpower is there. The manpower is hungry, believe me.” Labor experts say green retrofitting should pick up and produce more jobs once economic stimulus money begins to flow. Abrams said too much emphasis appeared to be placed on solar power, wind energy and other high-tech alternatives, as opposed to improvements in energy conservation that he says are more cost-effective and yield a faster return on investment. “You’ll absolutely get much, much more for your money with a caulk gun than you will with a photovoltaic cell,” he said. (www.reuters.com)
White Roofs Catch on as Energy Cost CuttersRelying on the centuries-old principle that white objects absorb less heat than dark ones, home owners like Jon and Kim Waldrep of Sacramento, Calif., are in the vanguard of a movement embracing “cool roofs” as one of the most affordable weapons against climate change. Studies show that white roofs reduce air-conditioning costs by 20% or more in hot, sunny weather. Lower energy consumption also means fewer of the carbon dioxide emissions that contribute to global warming. What is more, a white roof can cost as little as 15% more than its dark counterpart, depending on the materials used, while slashing electricity bills. Art Rosenfeld, a member of the California Energy Commission who has been campaigning for cool roofs since the 1980s, argues that turning all of the world’s roofs “light” over the next 20 years could save the equivalent of 24 billion metric tons in carbon dioxide emissions. However, some roofing specialists and architects argue that supporters of white-roofs fail to account for climate differences or the complexities of roof construction. In cooler climates, they say, reflective roofs can mean higher heating bills. Scientists acknowledge that the extra hearting costs may outweigh the air-conditioning savings in cities like Detroit or Minneapolis. But for most types of construction, they say, light roofs yield significant net benefits as far north as New York or Chicago. Although those cities have cold winters, they are heat islands in the summer, with hundreds of thousands of square feet of roof surface absorbing energy. (www.nytimes.com)
Quadrant Homes Ramps Up New-Home ProductionQuadrant Homes, the largest home builder in the state of Washington, last month increased total production at its 14 developments in the Puget Sound area from two completed houses per workday to three, according to company president Peter Orser. That’s still way down from the seven homes a day Quadrant was building in late 2007. “There are a few stirrings of life out in the marketplace,” said Bill Hurme, president of new-home marketing firm Team Builder JLS. “Quadrant is the 800-pound gorilla in this market. Maybe they’ll be the leaders, and the rest of us will follow along.” Orser said Quadrant generally doesn’t start building houses until they are presold. He wouldn’t provide sales figures, but said presales improved enough starting this spring to justify the production boost. He attributed the sales increase to reduced prices, low mortgage interest rates, Quadrant home buyer incentives and the new $8,000 federal income-tax credit for first-time buyers. More than 85% of Quadrant’s buyers during the first six months of this year were first-timers, Orser said. They paid an average $277,000 and 78% paid between $200,000 and $300,000. Quadrant now will have 162 houses under construction at its developments in King, Snohomish, Pierce, Kitsap, Thurston and Skagit counties on any given day — up from 108. (www.seattletimes.com)
Lawmakers Approve Housing Initiatives Before AdjourningMoving to ensure that the Federal Housing Administration and the Government National Mortgage Association will continue to play a central role in today’s housing market and setting the stage for a busy legislative calendar this fall, the Congress worked on a number of bills last week of concern to the nation’s housing industry as the House prepared for its August recess on July 31 and the Senate looked forward to adjourning on Aug. 7. The House approved H.R. 2529, the Neighborhood Preservation Act, which would address many of the harmful side effects of the nation’s foreclosure crisis by temporarily permitting a bank or mortgage servicer to enter into a five-year lease for properties acquired through foreclosure with an individual or the prior owner of a foreclosed property. The bill would also permit a bank to give the prior owner the option to lease the home with a choice to buy it back. Prior to the House vote, in a letter to Rep. Gary Miller (R-Calif.) NAHB expressed support for the legislation, stating that permitting this new flexibility in handling foreclosures would enable all parties to benefit. “The home owner would be given an opportunity to remain in their home until they could buy again; the lender could potentially recover a greater share of their loss by delaying sale into an improved housing market; and local communities would benefit by being spared additional unsold housing inventories that would only further delay the nation’s economic recovery,” the letter said. The bill now goes to the Senate for consideration. Increased Funding for FHA, Ginnie Mae Meanwhile, by a vote of 79 to 17, the Senate on July 30 passed H.R. 3357, legislation to extend funding for the Highway Trust Fund through the current fiscal year. The measure passed in the House a day earlier by a comfortable 368-to-68 margin and President Obama is expected to sign it into law shortly. Of note to the housing industry, the bill also increases the mortgage commitment authority of the FHA and Ginnie Mae to ensure continued mortgage lending. Due to increased demand, FHA and Ginnie Mae are nearing their loan limits; if they reached them, they would be unable to provide first-time mortgage and refinancing loans, which would constrict the mortgage market even further. Specifically, the legislation raises the fiscal 2009 cap on single-family loans the FHA can guarantee under the Mutual Mortgage Insurance program from $315 billion to $400 billion. FHA loans have gone from comprising less than 2% of the mortgage market in 2006 to 25% to 30% of today’s market. The bill further increases from $300 billion to $400 billion the limit on new Ginnie Mae commitments to issue guarantees under the Mortgage-Backed Securities Loan Guarantee Program. Ginnie Mae, which securitizes FHA and Department of Veterans Affairs loans, has seen its volume increase threefold. House Extends Flood Insurance Program Also of note to the housing community, the House on July 29 approved a six-month extension of the National Flood Insurance Program (NFIP). The Senate will need to take up the extension measure prior to Sept. 30, when the program is due to expire. Extending the 40-year-old flood insurance program would give lawmakers in both chambers more time to work out contentious issues, such as whether to forgive its $19 billion debt and whether to add wind coverage to the program. NAHB will continue to monitor and take actions on the broader reform debate as it develops. To read legislation, click here and enter the bill number in the box at the center of the page. For more information, contact Scott Meyer at 800-368-5242, x8144. No Floor Votes on Health Care Before SeptemberAs members of the House and Senate continued to labor over health legislation last week, it appeared that they would fail to meet the Obama Administration’s deadline of approving a measure before departing for their August recess. Rep. Henry Waxman (D-Calif.), chairman of the House Energy and Commerce Committee, reached an accord with fiscally conservative Blue Dog Democrats on his panel in time to complete markup on a final bill by Friday, July 31, when the House recessed. Facing an Aug. 7 recess, the Senate Finance Committee continued in its attempts to reach a bipartisan deal.
Baucus appeared jointly with Sen. Chuck Grassley (R-Iowa) before the media to dispel news reports that negotiations had broken down amid pressure from the Democratic and Republican leadership teams. He said that talks would pick up again in the week before the Senate’s adjournment. As an active participant in the Small Business Coalition for Affordable Healthcare, NAHB, along with 100 other organizations, has been working to increase the access and affordability of health insurance for small business owners, employees and the self-employed. As part of the coalition’s efforts, NAHB has sent multiple letters to Capitol Hill voicing strong opposition to the House Tri-Committee bill and Senate HELP bill. NAHB members can click here to send a letter registering their opposition to the House health care bill. For more information, e-mail Erin Tario at NAHB or contact her at 800-368-5242 x8413. NAHB Continues to Seek Co-Sponsors for NOL BillsNAHB continues to advocate expansion of the Net Operating Loss (NOL) carryback provision passed earlier this year as part of the American Recovery and Reinvestment Act (ARRA). The ARRA provision provides for a five-year carryback of 2008 NOLs for businesses with average gross receipts of no more than $15 million in 2006, 2007 and 2008. In the House, Reps. Richard Neal (D-Mass.) and Pat Tiberi (R-Ohio) have introduced H.R. 2452, the Net Operating Loss Carryback Act, which eliminates the $15 million cap and allows 2009 losses to also be eligible for the expanded carryback. Companion bill S. 823 was introduced in the Senate by Finance Committee Chairman Max Baucus (D-Mont.) and Sen. Olympia Snowe (R-Maine). Both bills also prohibit any entity that accepted Troubled Asset Relief Program (TARP) funds from utilizing the provision. Currently, H.R. 2452 and S. 823 have 86 and 36 co-sponsors, respectively. NAHB is working with a coalition of industries to build strong co-sponsorship for the two bills, so that there will be evidence of widespread, bipartisan support when an opportunity arises to move the bills forward. To confirm that your member of Congress is a co-sponsor of these bills, go to www.loc.gov/thomas and enter either bill number in the search field. If they are not presently co-sponsors, please contact them immediately and urge them to join the co-sponsorship list. For more information, e-mail Greg Brown at NAHB, or call him at 800-368-5242 x8421. ‘Second Look’ Program to Expand Mortgage ModificationsA new Second Look Program from the Mortgage Insurance Companies of America (MICA) may provide help to troubled home owners who are not able to qualify for federal assistance under the Obama Administration’s Making Home Affordable program. Making Home Affordable, announced in March, helps home owners at risk of losing their homes to modify their mortgages by reducing the monthly payment to more sustainable levels. MICA’s Second Look Program builds on the Administration’s program by providing an additional review to home owners who have been denied a modification of a loan that is not owned or guaranteed by Fannie Mae or Freddie Mac. Lenders use a net present value (NPV) test to determine whether a non-GSE loan is eligible for a loan modification. These loans can include jumbo mortgages, loans on investors’ balance sheets or loans that have been packaged into private-label mortgage securities. Given how some NPV models are mathematically structured, it may appear that loans that have mortgage insurance are better off going into foreclosure. To help offset these results, the Second Look Program allows lenders to send a claim that has been rejected under the NPV test to a mortgage insurer who can choose to provide an advance claim payment to help permit the loan to be modified. Although MICA has not provided an estimate of how many home owners it expects to help under its new program, the organization, working in conjunction with loan servicers, was able to prevent nearly 100,000 people from losing their homes in 2008. To read the press release announcing the Second Look Program, click here. For more information, e-mail Bill Renner at NAHB, or call him at 800-368-5242 x8597. Tax Credit Web Site Looks at Opportunity of a Lifetime Builders and other industry professionals can help spur home sales by referring prospective first-time home buyers to www.federalhousingtaxcredit.com. The NAHB Web site provides detailed information on the $8,000 federal tax credit for first-time home buyers included in the economic stimulus legislation signed into law by President Obama. Consumers can use the Web site to find information on the tax credit — including a detailed question and answer section. It also includes information about other housing-related and small business measures in the legislation and a number of home-buying resources for consumers. Spanish Version Also Available Online A Spanish version of this increasingly popular Web site is also available to provide detailed information on the tax credit to Spanish-speaking first-time home buyers. Industry professionals are encouraged to highlight either tax credit Web site when marketing to their potential first-time home buyer market. Want to Know the Housing Starts Through 2017? Find out in HousingEconomics.com's Long-Term Forecast. Subscribe and get downloadable Excel tables that feature the housing starts forecast, gross domestic product (GDP), demographics and more. To learn more, visit www.housingeconomics.com. Plan to Attend Construction Forecast Conference Plan to attend or watch the 2009 Fall NAHB Construction Forecast Conference & Webcast on Oct. 21 in Washington, D.C. to get the latest facts, insights and analysis of the housing industry. Panels of nationally recognized experts at the day-long conference will discuss economic trends, government policies, developments in the housing industry and the results from NAHB's recent surveys. For more information and to register, visit www.nahb.org/cfc. Mortgage Rates Rise Slightly Along With Optimism on HousingOptimism that the economy may be stabilizing pushed up bond yields last week, and mortgage interest rates rose along with them, according to Frank Nothaft, Freddie Mac's chief economist. The 30-year fixed-rate mortgage averaged 5.25% for the week ending on July 30, according to Freddie Mac’s Primary Mortgage Market Survey, up slightly from 5.20% during the prior week, but down significantly from 6.52% one year earlier. The 15-year fixed-rate mortgage averaged 4.69%, up from 4.68% the week before. Five-year Treasury-indexed hybrid adjustable-rate mortgages climbed almost imperceptibly from 4.74% to 4.75% and one-year ARMS increased from 4.77% to 4.80%. The financial markets last week derived their optimism on conditions in the nation housing market from a number of sources, including the Federal Reserve, which reported weakness in most of its districts, but also signs of improvement, especially in sales of entry-level homes profiting from the availability of the first-time home buyer tax credit. (For a related story in this issue of NBN, click here.) “Other economic reports confirm that the housing market may indeed be bottoming out,” said Nothaft. "New home sales rose for the third consecutive month in June to an annual pace of 384,000 homes, the most since November 2008, and the number of new houses on the market fell to the lowest amount since February 1999, according to the Department of Commerce,” he said. “Sales of existing homes also showed a three-month gain to 4.89 million, the most since October 2008,” said Nothaft, “and the share of distressed homes fell to 31% compared to almost half at the beginning of the year, the National Association of Realtors® reported.” The news media widely reported last week that the housing industry was starting to see some signs of recovery, but analysts said that the upturn so far is tentative, with home builders facing such difficult obstacles as the continuation of rising unemployment and low consumer confidence, more foreclosures and a dearth of credit to build and produce more housing. News coverage focused on the findings of the Standard & Poor’s/Case-Shiller price index, which showed 10- and 20-city composite prices of single-family homes rising 0.5% from April to May, the first monthly increase since 2006. However, at an annual rate those indexes declined 16.8% and 17.1%, respectively, according to the May data, which showed the index improving for the fourth consecutive month after a steep decline that commenced in the fall of 2005. “While many indicators are showing signs of life in the U.S. housing market, we should remember that on a year-over-year basis home prices are still down about 17% on average across all metro areas, so we likely do have a way to go before we see sustained home price appreciation,” said David Blitzer, chairman of the Index Committee at Standard & Poor. Economists who have been forecasting that the economy would start growing again in the second half of this year received encouraging news from the Commerce Department on July 31 showing that GDP declined at an annual rate of 1% during this year’s second quarter, better than expected, following a 6.4% rate of decline in the first three months of the year. Forecasters are also expecting unemployment to continue to rise into next year, eventually exceeding 10%, despite the turnaround in growth. Tax Credit Web Site Looks at Opportunity of a Lifetime Builders and other industry professionals can help spur home sales by referring prospective first-time home buyers to www.federalhousingtaxcredit.com. The NAHB Web site provides detailed information on the $8,000 federal tax credit for first-time home buyers included in the economic stimulus legislation signed into law by President Obama. Consumers can use the Web site to find information on the tax credit — including a detailed question and answer section. It also includes information about other housing-related and small business measures in the legislation and a number of home-buying resources for consumers. Spanish Version Also Available Online A Spanish version of this increasingly popular Web site is also available to provide detailed information on the tax credit to Spanish-speaking first-time home buyers. Industry professionals are encouraged to highlight either tax credit Web site when marketing to their potential first-time home buyer market. Want to Know the Housing Starts Through 2017? Find out in HousingEconomics.com's Long-Term Forecast. Subscribe and get downloadable Excel tables that feature the housing starts forecast, gross domestic product (GDP), demographics and more. To learn more, visit www.housingeconomics.com. Plan to Attend Construction Forecast Conference Plan to attend or watch the 2009 Fall NAHB Construction Forecast Conference & Webcast on Oct. 21 in Washington, D.C. to get the latest facts, insights and analysis of the housing industry. Panels of nationally recognized experts at the day-long conference will discuss economic trends, government policies, developments in the housing industry and the results from NAHB's recent surveys. For more information and to register, visit www.nahb.org/cfc. Fed’s Beige Book Sees Spotty Signs of a Housing TurnaroundObserving that economic decline has recently been moderating in some parts of the country with other areas stabilizing at a low level, the Federal Reserve Board’s Beige Book last week reported that residential real estate remained soft just about everywhere, although there have been signs of improvement. The findings were based on anecdotal information received in comments from businesses and other contacts for the Fed’s 12 districts from roughly June 10, when the last Beige Book report was filed, up to July 20. Where they were occurring, improvements in homes sales tended to be at the low end of the market, where first-time buyers were taking advantage of falling prices and low mortgage interest rates. Contacts in the New York, Kansas City and Dallas districts attributed the relative strength of the entry-level home market, at least in part, to the first-time home buyer tax credit. As for lending for business, consumers and residential real estate, Philadelphia was the sole district where an increase was seen since the prior report, although it was only “slight.” Banks continued to tighten their credit standards in the Fed’s New York, Philadelphia, Richmond, Va., Chicago, Kansas City, Dallas and San Francisco districts, according to the report. Following are the latest reports by district on residential real estate conditions compiled over the past several weeks:
Tax Credit Web Site Looks at Opportunity of a Lifetime Builders and other industry professionals can help spur home sales by referring prospective first-time home buyers to www.federalhousingtaxcredit.com. The NAHB Web site provides detailed information on the $8,000 federal tax credit for first-time home buyers included in the economic stimulus legislation signed into law by President Obama. Consumers can use the Web site to find information on the tax credit — including a detailed question and answer section. It also includes information about other housing-related and small business measures in the legislation and a number of home-buying resources for consumers. Spanish Version Also Available Online A Spanish version of this increasingly popular Web site is also available to provide detailed information on the tax credit to Spanish-speaking first-time home buyers. Industry professionals are encouraged to highlight either tax credit Web site when marketing to their potential first-time home buyer market. Want to Know the Housing Starts Through 2017? Find out in HousingEconomics.com's Long-Term Forecast. Subscribe and get downloadable Excel tables that feature the housing starts forecast, gross domestic product (GDP), demographics and more. To learn more, visit www.housingeconomics.com. Plan to Attend Construction Forecast Conference Plan to attend or watch the 2009 Fall NAHB Construction Forecast Conference & Webcast on Oct. 21 in Washington, D.C. to get the latest facts, insights and analysis of the housing industry. Panels of nationally recognized experts at the day-long conference will discuss economic trends, government policies, developments in the housing industry and the results from NAHB's recent surveys. For more information and to register, visit www.nahb.org/cfc. 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.
Tax Credit Web Site Looks at Opportunity of a Lifetime Builders and other industry professionals can help spur home sales by referring prospective first-time home buyers to www.federalhousingtaxcredit.com. The NAHB Web site provides detailed information on the $8,000 federal tax credit for first-time home buyers included in the economic stimulus legislation signed into law by President Obama. Consumers can use the Web site to find information on the tax credit — including a detailed question and answer section. It also includes information about other housing-related and small business measures in the legislation and a number of home-buying resources for consumers. Spanish Version Also Available Online A Spanish version of this increasingly popular Web site is also available to provide detailed information on the tax credit to Spanish-speaking first-time home buyers. Industry professionals are encouraged to highlight either tax credit Web site when marketing to their potential first-time home buyer market.
Want to Know the Housing Starts Through 2017? Find out in HousingEconomics.com's Long-Term Forecast. Subscribe and get downloadable Excel tables that feature the housing starts forecast, gross domestic product (GDP), demographics and more. To learn more, visit www.housingeconomics.com.
Plan to attend or watch the 2009 Fall NAHB Construction Forecast Conference & Webcast on Oct. 21 in Washington, D.C. to get the latest facts, insights and analysis of the housing industry. Panels of nationally recognized experts at the day-long conference will discuss economic trends, government policies, developments in the housing industry and the results from NAHB's recent surveys. For more information and to register, visit www.nahb.org/cfc. Webinar to Explore Selling to 50+ Buyers in a Down EconomyA webinar beginning at 2:00 p.m. EDT on Tuesday, Aug. 18 will explore how to sell to 50+ buyers under today’s challenging market conditions. Sponsored by the NAHB 50+ Housing Council and the National Sales and Marketing Council, “Selling to 50+ Buyers in a Down Economy” is free to all 50+ Housing Council and NSMC members and affiliated local councils. The fee is $69 for other NAHB members and $100 for non-members. Webinar participants will learn how to evaluate their sales staff and teach them effective selling techniques; refine their sales processes so they can succeed in the 50+ market; improve their sales team’s follow-up; and learn how to overcome buyer objections, including how to sell their buyer’s current home. Participants also will receive an overview of mortgage products and the options that apply to the 50+ market. In addition, panelists will learn how to:
To Register To register for the webinar or to view past 50+ Housing Council E-Learning presentations, click here. For more information, e-mail Jeff Jenkins at NAHB, or call him at 800-368-5242 x8292. Free Aug. 17 Webinar to Discuss Land Development OpportunitiesWith banks hesitant to finance developments, equity investors seeking higher and quicker returns, municipalities hurting financially and developers still laboring under project agreements that were hastily entitled at the height of the market, NAHB’s Land Development Committee is hosting a free webinar on Aug. 17 beginning at 2:00 p.m. EDT that will explore opportunities in land development that are beginning to emerge in today’s uncertain environment. “Repositioning Development Agreements and Project Financing to Address New Market Realities” will include an overview of the current status of the development landscape, financing issues, how large-scale developments are faring and new home design trends. In addition, webinar panelists will discuss lot banking, fire sale land purchases, competing with foreclosures and renegotiating existing development agreements. Panelists include Carter Froelich and Eric Brown, of DPFG Consultants, which focuses on helping land developers and builder clients navigate the development and construction process in a timely and cost-efficient manner. William Sanderson, of Forest City Land Group based in Cleveland and a member of NAHB’s Land Development Committee, will serve as the moderator. To Register To register for this free webinar, click here. The presentation is the third in a series of webinars on development issues that is being provided by the NAHB Land Development Committee. Two additional webinars are planned. Previous Webinars Available Online Free recordings of the previous webinars in the series are available online. To view "Top Trends in Impact Fees," an examination of the latest trends in impact fees to help developers shift the public conversation to other financing mechanisms, is available by clicking here. To view the presentation, enter the password, LandPlan1. A recording of the second webinar in the series, "How to Get Through the Storm Water Regulatory Maze: Understanding the Alphabet Soup of BMPs, LID, TMDLs and SWPPP Processes," will be available beginning Wednesday, July 29. Coming in September The fourth webinar in the series, “Understanding Infrastructure Finance Tools That Are Successful Alternatives to Impact Fees,” will be held on Sept. 24 and will feature a panel of national experts who will dissect the use of special district financing tools and explore the variations and potential of these tools on local projects. For more information on the webinar series, e-mail Jennifer Jones at NAHB, or call at 800-368-5242 x8469.
'Land Development, 10th Edition' Available at BuilderBooks.com "Land Development, 10th Edition," available through BuilderBooks.com, is the comprehensive resource for land developers. Author Daisey Linda Kone helps readers acquire a complete knowledge of the interrelated factors that contribute to a successful land development project. The 10th edition contains the latest details concerning major environmental regulations that affect land development, emerging demographics for targeted marketing and new innovations in housing types. To view or purchase this publication online, click here, or call 800-223-2665. NAHB Provides HBAs Incentives to Save on Recruitment TrainingCost-saving incentives on training to help local and state home builders associations increase their memberships is now available through a special NAHB agreement with The Oliver Group, a business development firm based in Washington state that has built a reputation for helping HBAs run successful membership drives. Under the limited-time arrangement, The Oliver Group will provide direct drive training and recruitment training to HBAs at the discounted rate of $497, down from its regular fee of $1,450, if the training is scheduled to occur no later than Nov. 30. In addition, NAHB will pay $250 of the HBA’s fee. HBAs that schedule joint training sessions also can realize additional savings when five or more HBAs, or 50% of the local HBAs in a state, schedule their training jointly. NAHB will provide an additional $1,000 meeting allowance to HBA joint training that meets this criterion. Rain Checks Available Under the NAHB agreement, The Oliver Group is also offering rain checks to HBAs that have held a direct drive after Aug. 1, 2008, but that want to participate in training and another recruitment drive at a later date. To be eligible for The Oliver Group’s reduced fees, the HBA must contact The Oliver Group no later than Sept. 30 to schedule the training, and both the training and drive must occur no later than Aug. 2, 2010. Retention Rebate Program As part of the recruitment incentives, NAHB also has agreed to pay HBAs participating in programs the $35 member recruitment fee normally paid to The Oliver Group for every member recruited during a direct drive who is retained after the first year. Learn More During Conference Call on Aug. 4 NAHB will host a conference call beginning at 4:00 p.m. EDT on Tuesday, Aug. 4 to provide more details about the recruitment drive incentives. Participants should dial 800-860-2442 and ask for the NAHB Fall Membership Incentives call. After the presentation portion of the call, the operator will provide instructions on how to ask a question during the Q&A portion of the call. For information on The Oliver Group services and scheduling, e-mail Rob Oliver, The Oliver Group, or call him at 509-888-2226. For more information about the agreement, e-mail William “Rusty” Deiss at NAHB, or call him at 800-368-5242 x8231. Builders’ Tip: A Simple Way to Bore Clean Holes
But with certain woods, such as mahogany, even the sharpest cutters leave an unsightly frayed edge. And while up-shear geometry is great for evacuating shavings, it can drag debris past the surface fiber, causing splintering. Here’s what I do to avoid the problem:
If this method is new to you, try the technique on a few pieces of scrap to get a feel for it. — Michael Standish, West Roxbury, Mass. Tips & Techniques provided by Fine Homebuilding.
To contact Fine Homebuilding, e-mail Christina Glennon.
Tax Credit Web Site Looks at Opportunity of a Lifetime Builders and other industry professionals can help spur home sales by referring prospective first-time home buyers to www.federalhousingtaxcredit.com. The NAHB Web site provides detailed information on the $8,000 federal tax credit for first-time home buyers included in the economic stimulus legislation signed into law by President Obama. Consumers can use the Web site to find information on the tax credit — including a detailed question and answer section. It also includes information about other housing-related and small business measures in the legislation and a number of home-buying resources for consumers. Spanish Version Also Available Online A Spanish version of this increasingly popular Web site is also available to provide detailed information on the tax credit to Spanish-speaking first-time home buyers. Industry professionals are encouraged to highlight either tax credit Web site when marketing to their potential first-time home buyer market.
Set Yourself Apart With CGB Designation 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 Offers More Than 250 Books That Help You Build Your Business 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. Hot Housing Deals at IBS When You Register in AugustOnline registration and housing for the 2010 International Builders’ Show (IBS) in Las Vegas on Jan. 19-22 — the single, most important and largest industry event of the year — is now open and NAHB is offering red hot deals on housing and exhibit passes to members who register early.
Home Technology Can Add Value, Boost AppealWith the pace and availability of home technologies advancing and their costs decreasing, builders who sell to tech-savvy buyers should incorporate home technologies during the selection and construction phases of home purchases to boost buyer appeal and realize even more savings, according to panelists at a recent webinar on home technologies and business success. “Fundamentally, technology keeps advancing and its costs decline,” said webinar panelist David Rodarte, president of NuVo Technologies, which creates innovative solutions for the consumer music industry. “There is a strong movement with manufacturers to provide added value to bring these technologies into the common home.” Participants in the July 22 webinar — sponsored by NAHB, the Consumer Electronics and Installation Association (CEDIA) and the Consumer Electronics Association (CEA) — discussed the state of the housing industry and home technology, the types of technology available, the viability of home technology integration and the benefits, and the need to incorporate home technologies into a builder’s business model as tech-savvy home buyers emerge in the new market. The discussion was based on the finding of the CEA’s “Annual State of the Builder Technology Market Study,” which analyzes the marketing and installation of home technology among home builders. The panel focused on five key findings from the study:
Information About Home Technology Available From HTA The Home Technology Alliance (HTA) is a partnership between NAHB and the Custom Electronic Design Installation Association (CEDIA) that was formed to position the housing industry to effectively meet the growing home buyer demand for home technology and provide maximum return on investment in the new home building and remodeling process. For more information, visit www.nahb.org/HTA. Interest Grows in FHA Multifamily Finance ProgramsA recent NAHB Web seminar on Federal Housing Administration financing provides multifamily builders and developers with a better understanding of the ins and outs of programs that have become increasingly important for the industry in today’s marketplace. Hank Williams, senior vice president with Wells Fargo's national multifamily program, said that the FHA’s 221(d)(4) program — which is used for multifamily construction and substantial rehab — is “very stable in today’s market, with competitive interest rates and fixed for the full term of the fully amortizing loan.” Before 2007, he said, the program played a minor role, but it now represents a full 30% of FHA’s loan business, represents 10% of the multifamily units currently being built and has “a significant pipeline of pending deals. Participation in the program, Williams said, typically used to involve deals in the $5 million to $25 million range, but now the FHA is seeing interest from companies with projects as large as $100 million. Explaining the details of the Department of Housing and Urban Development’s commitment process, Tom Booher, PNC Bank's expert in the area of multifamily finance, observed that participants in the 22l(d)(4) program — or in the 223(f) program, which is used to purchase or refinance existing multifamily properties — can expect to encounter a longer time frame and fill out more paperwork than they would if they were dealing with a commercial lender. Booher also mapped out the steps leading from the initial application to the delivery of the loan. David Reznick, of the Reznick Group, an accounting and consulting firm focused on multifamily finance, warned of avoiding certain pitfalls in order to maximize the mortgage amount, prevent mortgage extension fees and reduce the builder’s net out-of-pocket expenses. To replay the Web seminar, “FHA — Advanced,” click here. It is available free to Multifamily and 50+ Housing members and to others for a fee. For more information, e-mail Ann Marie Moriarty, or call her at 800-368-5242 x8350. Deadlines Near for Four NAHB Remodelers AwardsNAHB Remodelers invites its members and local councils to apply for the CADRE, Remodeler of the Year and National Remodeling Hall of Fame awards by Friday, Aug. 7. Applications for the Homes for Life CAPS Project Award are due Friday, Aug. 21. The awards all highlight remodeling excellence. Remodeler of the Year
Increase Your Professional Credibility The Certified Graduate Remodeler (CGR) designation emphasizes business management skills as the key to a professional remodeling operation. Remodelers who earn the CGR become members of an exclusive national program and gain recognition as industry leaders. To learn more about the CGR designation, visit www.nahb.org/CGRinfo, or call The Professional Designation Help Line at 800-368-5242 x8154.
Education Calendar
Learn More About 2009 Professional Development Offerings See the variety of professional development offerings available through NAHB and its local associations in this interactive brochure. Or, search for specific course offerings and check out upcoming conferences.
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. Grant Supports Green Building in New HampshireHome builders and remodelers in New Hampshire will enjoy more access to green building education and training events thanks to a grant from the state’s Public Utilities Commission. The Home Builders and Remodelers Association of New Hampshire (NBRANH) was awarded the grant this month to fund a full-time program manager for Build Green NH and associated training and advocacy efforts — including education for members to design, build and remodel homes that meet the National Green Building Standard. Build Green NH is an affiliate of NAHBGreen, the NAHB National Green Building Program. The $178,169, two-year grant comes from money collected by the Regional Greenhouse Gas Emissions Reduction Fund. Utility companies in 10 Northeastern and Mid-Atlantic states contribute to the fund at a rate based on the carbon dioxide emissions of their power plants, and the money is used for training and weatherization programs as well as plant upgrades. Eighty-two applications were received for this year’s funding program. Nine — including Build Green New Hampshire — were funded in the first round of grants. “The association is very pleased to obtain this funding for a full-time program manager,” said HBRANH Executive Vice President Kendall E. Buck. On July 17, Buck and his members welcomed Elizabeth Fischer, a real estate broker and former state housing finance authority board member, as the new program manager. The grant will also allow the HBA to expand its class offerings so more home builders and remodelers can obtain the Certified Green Professional designation. “The Build Green NH Program will indirectly support significant energy savings and greenhouse gas emissions reductions in both the short- and long-term,” the HBA told project organizers in its grant application. “In the short run, as building professionals successfully complete the program, they will immediately go to work installing energy-efficiency measures in New Hampshire homes, which will produce savings over time. In the long term, the number of Certified Green Professionals will continue to grow, and the widespread use of their skills and knowledge will raise energy efficiency standards and result in a market and industry transformation in home building and remodeling,” the application said. “There’s a lot of work ahead of us in order to accomplish the goals stated in this grant — to ramp up training and education for builders and outreach efforts for consumers,” Buck said. But if the program is successful, more members and home buyers will understand the environmental benefits of green homes and their potential to reduce greenhouse gas emissions — especially if built to the National Green Building Standard. “Our New Hampshire builders and remodelers are setting a great example,” said Kevin Morrow, NAHB senior program manager. “They’re giving this grant back to the community in the form of better educated builders and more green homes.” For more information, e-mail Calli Schmidt at NAHB, or call her at 800-368-5242 x8132. ‘National Green Building Standard’ Available at BuilderBooks.com “The National Green Building Standard,” available through BuilderBooks.com, provides “green” practices that can be incorporated into multifamily and single-family new home construction, home remodeling and additions and site development. The standard covers lot design, resource, energy and water efficiency; indoor environment quality; and owner education. Currently the first and only ANSI-approved green building rating system, the National Green Building Standard is the benchmark for green homes. To view or purchase this publication online, click here. The Future of Residential Construction Is Green The Certified Green Professional (CGP) designation teaches builders, remodelers and other industry professionals techniques for incorporating green building principles into homes using cost-effective and affordable options. Earning the CGP demonstrates to clients and peers your commitment to the best and latest in green building practices and techniques. More than 3,800 people have earned the CGPdesignation to date. For more information, visit www.nahb.org/CGPinfo. ‘Build Green and Save’ Available at BuilderBooks.com “Build Green and Save: Protecting the Earth and Your Bottom Line,” available through BuilderBooks.com, is a comprehensive, easy-to-read reference that shows builders how to identify and select green building materials; implement green construction techniques; explain the benefits of green housing and offer affordable green building solutions to consumers; and use resources wisely and reduce water and energy consumption. To view or purchase this publication online, click here, or call 800-223-2665. Appraisal Institute Webinar to Look at Value of Green HomesA webinar aimed at helping real estate appraisers gain a better understanding of the value of green homes will take place on Wednesday, Aug. 12, at 2:00 p.m. EDT. Among the presenters will be NAHB Green Building Subcommitte member Dave Porter, who is also a member of a working group examining the issue of green appraisals in partnership with the Appraisal Institute, which is sponsoring the webinar. Among topics that will be covered:
The webinar costs $30 for Institute members and $75 for others. For additional information and a registration form on the Appraisal Institute's Web site, click here. ‘National Green Building Standard’ Available at BuilderBooks.com “The National Green Building Standard,” available through BuilderBooks.com, provides “green” practices that can be incorporated into multifamily and single-family new home construction, home remodeling and additions and site development. The standard covers lot design, resource, energy and water efficiency; indoor environment quality; and owner education. Currently the first and only ANSI-approved green building rating system, the National Green Building Standard is the benchmark for green homes. To view or purchase this publication online, click here. The Future of Residential Construction Is Green The Certified Green Professional (CGP) designation teaches builders, remodelers and other industry professionals techniques for incorporating green building principles into homes using cost-effective and affordable options. Earning the CGP demonstrates to clients and peers your commitment to the best and latest in green building practices and techniques. More than 3,800 people have earned the CGPdesignation to date. For more information, visit www.nahb.org/CGPinfo. ‘Build Green and Save’ Available at BuilderBooks.com “Build Green and Save: Protecting the Earth and Your Bottom Line,” available through BuilderBooks.com, is a comprehensive, easy-to-read reference that shows builders how to identify and select green building materials; implement green construction techniques; explain the benefits of green housing and offer affordable green building solutions to consumers; and use resources wisely and reduce water and energy consumption. To view or purchase this publication online, click here, or call 800-223-2665. Lowe’s Helps Job Corps Grads Begin Industry CareersTwo recent graduates of the Home Builders Institute's Potomac Job Corps Center are among the more than 250 students who have benefitted from the HBI/Lowe’s Building Careers Scholarship Fund. The fund was established in April 2004 to help Job Corps graduates defray the cost of making successful transitions into jobs in the home building industry. Since the scholarship fund was initiated, total contributions from Lowe’s Home Improvement have reached $300,000. For the past four years, Lowe's has presented $50,000 checks to HBI during the International Builders’ Shows (IBS). Earlier this summer, Casey Gomez and DaShaun Custis, two of the latest recipients of the Building Careers Scholarship, completed their electrical training program with HBI instructors Ray Coston and Ken Fletcher. Both graduates were able to find jobs at the Fluor Corporation in Richmond, Va., which specializes in engineering, procurement, construction, maintenance and project management. Gomez and Custis needed to relocate to Richmond, and the scholarship provided them with enough money to secure a deposit on an apartment, which they share with fellow Potomac Job Corps graduate Nelson Farid. “Saying that we are grateful to Lowe’s for its continuous contribution to the Building Careers Scholarship is a gross understatement,” said HBI Chairman M.M. “Mike” Weiss. “Sometimes it’s easy to assume that once a graduate finds a job they are on their way, but there are real costs to starting off on your own and for the past five years Lowe’s has filled a critical need and helped defray these costs for students like Casey and DeShaun.” HBI, the workforce development arm of NAHB, is the largest national training contractor in Job Corps, placing more than 2,000 young people annually in jobs in residential construction. NAHB members work through their local home builders associations to help develop the curriculum, mentor students and provide internships or work-based learning opportunities. For more information on the HBI/Lowe’s Building Careers Scholarship or to hire an HBI Job Corps graduate, e-mail Keith Albright or Maria McIntyre at HBI, or call them at 800-795-7955 x8911 and x8912, respectively. Dryvit Donates ‘Green’ Finish to Silo Eco-Home in KansasDryvit Systems, Inc. has donated 40 pails of its Mojave E Finish to the 1,200-square-foot Silo Eco-Home being built in Greensburg, Kan., to demonstrate green and sustainable building practices in a structure that can withstand winds of more than 200 mph. The home is being built by Florida-based builder Armour Homes in the small Midwestern town, which is emphasizing green building practices as it continues to recover from tornado devastation two years ago in May. Dryvit’s finishing product “is an energy-efficient choice for the cast concrete building’s exterior because it contains 20% post-consumer recycled glass, is 40% lighter than traditional finishes and will provide superior durability for years to come,” said Barbara Catlow, the manufacturer’s director of marketing communications. Mojave E — a premixed, lightweight finish that provides better performance characteristics than standard elastometric finishes over stucco and concrete — is 100% acrylic-based and offers improved flexibility, ease of application and superior crack resistance. The patented formulation of Mojave E creates a finish that offers the same volume and coverage area as the standard five-gallon bucket of Dryvit DPR finish, but actually weighs 40% less than the standard pail, reducing arm fatigue by making it easier to carry and apply. Catlow noted that the product is “easier on the environment because it is made from recycled material, and it will save on fuel and transportation costs as well.” She added that when it is used as part of a Dryvit’s Outsulation System, “it possesses the same performance and energy efficiency that building owners, applicators, engineers and architects alike have come to rely upon.” Mojave E is available in standard and custom colors; it can be applied over other properly prepared substrates such as exterior masonry, stucco or precast or cast-in-place concrete; and is also suitable for interior applications. It can be applied with a trowel or sprayed on with a hopper gun or pole gun-type sprayer. Mojave E is shipped in 18-kilogram (40-pound) pails and yields an approximate coverage of 120 square feet per pail. Headquartered in West Warwick, R.I., Dryvit Systems, Inc. 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 the DIY NetworkThe NAHB Production Group produces weekly television shows for consumers on the DIY network. The following is the latest lineup: "Rock Solid" on DIY
"Indoors Out" on DIY
HGTV Seeking ‘Dream Home’ Builder/Architect Teams HGTV is seeking developers, builders and architects to create the 2010 HGTV Dream Home, the grand prize in the network's annual 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. Herman J. Smith Scholarship Award Winners Announced
The Herman J. Smith Scholarship Fund, honoring 1981 NAHB President Herman J. Smith, provides assistance to graduate and undergraduate students studying construction management, mortgage finance and related fields. This year, seven students were awarded $2,000 scholarships each:
Patsy Smith is also an endowment life trustee and a trustee and past chair of the Home Builders Institute, the workforce development arm of NAHB. “We are pleased to present these scholarships in honor of the memory of Herman Smith. The students that these scholarships support are a testament to the legacy that Herman has left the housing industry,” said Gary Garczynski, endowment chair and 2002 NAHB president. Since its inception in 1997, the Smith scholarship fund has awarded more than $170,000 to 108 students. This year, the Smith scholarship committee also awarded a $2,000 grant to the Home Builders Institute Fund for Excellence in the Trades, an HBI-administered grant that supports students who are training in the various home building-related trades. More Endowment Scholarship Programs The endowment administers 10 scholarships and awards more than $300,000 each year to students pursuing careers in residential construction and related fields. For more information, visit the endowment's Web site at www.nationalhousingendowment.org. Save Big on Summer Essentials at Omaha SteaksWith summer grilling in full swing, NAHB members can save 10% on all Omaha Steaks food and specialty items when they shop online at the Omaha Steaks special NAHB Member Advantage Web page. Omaha Steaks, a leader in the incentive industry for more than 40 years, has a first-class reputation and a variety of gourmet entrees and items available to members, including beef, pork, poultry, pasta, salmon, tuna, seafood, appetizers, side dishes and desserts. Members ordering Omaha Steaks discounts ― which also include specialty selections, blockbuster combos, family value combos, soups, snacks, breads, coffee and monthly specials — can use them as gifts for their customers, clients, friends, family and staff members. The 10% discount can be combined with any special found on the Omaha Steaks special NAHB Member Advantage Web page. To order online and receive the Omaha Steaks 10% discount, click here. 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. Members, Continue to Drive Away With a Shiny New $500 GM OfferNAHB members can continue to 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.
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. Members Can Save Big on FedEx Shipping ServicesNAHB members can save up to 29% on select FedEx shipping services and can also save big on FedEx Freight and FedEx National LTL services. Other savings through FedEx shipping include:
To enroll, or for more information, visit www.1800members.com/NAHB or call 1-800-MEMBERS (800-636-2377) between 8:00 a.m. and 6:00 p.m. EDT Mondays through Fridays to speak to a dedicated member service representative. 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. Members, Get 15% Discount on New FTD Luxury CollectionAs the newest NAHB Member Advantage participating company, NAHB members can get a 15% discount on FTD.com’s Luxury Collection, an elite assortment of bouquets that represent the very best FTD.com has to offer, as well as the same discount on all flowers, gifts and gift baskets from FTD. The brilliant Luxury Collection bouquets bring together nature’s finest, most captivating flowers and the pinnacle of artful design. Members can place an order today and select the date to have the flowers delivered. FTD features more than 2,000 products to choose from and, with 15,000 retail florists and 45,000 international affiliates, FTD can provide same-day floral service to nearly 100% of the U.S. population. FTD owned and operated U.S. call centers also offer 24/7 availability, including all major holidays. 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. NAHB Committee, Council Appointment Process UnderwayNAHB’s committee and council appointment process for 2010 is now well underway. Members of the association who are interested in serving on a committee or council board of trustees next year can review appointment criteria and complete the application at www.nahb.org/committeeform. The deadline for all applications is Oct. 11. All current committee and council members who would like to serve again next year must apply for re-appointment to their respective committees at this time. Appointments are made for only one year. The NAHB Senior Officers are strongly encouraging members to participate in the leadership of the association. For more information on the committee appointment process, e-mail Cyndi McKinley, or call her at 800-368-5242 x8346. Calendar of Events
Learn More About 2009 NAHB Professional Development Offerings See the variety of professional development offerings available through NAHB and its local associations in this interactive brochure. Or, search for specific course offerings and check out upcoming conferences. |