H.R. 3221, the American Housing Rescue and Foreclosure Prevention Act, contains several provisions that would help put the economy back on track, save jobs and restore confidence. The bill would:
- Create a temporary, first-time home buyer tax credit for the purchase of any home. This would stimulate the housing market, eliminate excess inventory, relieve downward pressure on house prices and bring otherwise-qualified home buyers back into the market.
- Establish a more effective and balanced regulatory system for the housing government sponsored enterprises (GSEs) – Fannie Mae, Freddie Mac and the Federal Home Loan Banks. It would also permanently increase the GSE’s conforming loan limits up to $625,500, making home loans more affordable in high-cost areas.
- Give the Federal Housing Administration (FHA) greater flexibility to respond to the needs of borrowers, help more working families become home owners, provide a viable alternative to the subprime market and play a greater role in stabilizing the mortgage markets. The maximum FHA-insured loan would be permanently increased up to $625,500, helping prospective buyers to purchase homes in more markets across the country.
- Provide a temporary increase in state tax-exempt housing bond authority to help struggling home owners refinance their subprime loans and to increase access to affordable mortgage credit.
- Enhance the Low Income Housing Tax Credit (LIHTC) and tax-exempt housing bond programs to increase their effectiveness in addressing the nation’s continuing affordable housing needs.
- Expand the FHA program to provide additional authority to help at-risk borrowers refinance with viable mortgages and prevent further foreclosures. The Congressional Budget Office estimates this could help as many as 400,000 struggling home owners to stay in their homes.
The bill now goes to the House. While House and Senate lawmakers largely agree on the core provisions of the bill, the House is likely to make some modifications. The Senate will then need to approve any changes made by the House before the legislation can be sent to the President to be signed into law.
A recently-released study shows that owning makes more sense than renting in 66 of the nation's 100 Metropolitan Statistical Areas. The study, which was compiled by the Center for Economic and Policy Research and the National Low Income Housing Coalition, includes a comparison of monthly owning and rental costs for each market, as well as an estimate of equity that a home would accumulate by 2012.
Markets in North Carolina featured in the study include the Triangle, Triad and Charlotte.
Access the complete study "Ownership, Rental Costs and the Prospects of Building Home Equity: A Comparison of 100 Metropolitan Areas"here.
The 21st Century Building Expo & Conference (21CBEC) is giving home building professionals the chance to earn some GREEN this September.
One option open to attendees is to enroll in the new NAHB Certified Green Professional (CGP) designation courses. The two-day Green Building for the Building Professional course will be presented on Wednesday, Sept. 10 and Thursday, Sept. 11 and will be followed on Friday, Sept. 12 by the Business Management for Building Professionals course.
These courses will provide building professionals with the opportunity to learn strategies for incorporating green building principles into homes without driving up the cost of construction from nationally recognized speaker and Vice President of GreenHaus Builders, Michael Strong, CGR.
If you're looking for another "green" option, have we got something for you! By simply visiting designated booths and having your Ultimate Adventure pass stamped on Thursday and Friday, then returning it to the NCHBA booth (#1142), you are entered to win the daily grand prize of $10,000. That means attendees have two chances to add some serious green to their wallets this September!
The 21CBEC is the place for home building professionals to get some green this fall. Register online today at www.21buildingexpo.com or call (800) 662-7129 for more information.
While Independence Day has already come and gone, don’t miss your chance to salute America again during an “Evening of Patriotic Proportions” at this year’s STARS Awards Gala on Sept. 10 at the Westin Hotel in Charlotte.
The STARS Awards Gala, held in conjunction with the 21st Century Building Expo & Conference, is an opportunity to honor the outstanding achievements of the home building industry’s builders, associates, real estate agents, media and advertising professionals and local associations. Category headings include: Marketing, Advertising, Landscape Design, Interior Merchandising, Architecture/Floor plan, Sales Office, Community of the Year, Local Association Awards and more!
The deadline for entries is quickly approaching! All nominations are due to NCHBA by Aug. 1. Also, don’t forget about our second annual Builder and Associate of the Year Awards. Nominate a Builder or Associate member you believe is deserving of one of these esteemed awards. For more information, please contact Kathryn Atkinson at (800) 662-7129 or email .
South Carolina is the first state association on the east coast to host the Green Building Field Verifier Training course. The course will be presented during the Home Builders Association of South Carolina's State Convention on August 2, 2008 from 8 a.m. - 12 p.m. at the Marriott Grande Dunes Resort in Myrtle Beach, SC
This is a 3-hour training course covering the process required of an accredited verifier. The course is followed by a proctored test. Participants passing the test are provided with the additional information needed to be accredited and listed on www.nahbgreen.org.
The NAHB Research Center must verify your prerequisite information before you are accepted into the class. You must first register online with theNAHB Research Center at www.nahbgreen.org/Certification or complete the attached form and fax it to (301) 430-6180, ATTN: Rita Knab. Then, register with the HBA of SC.
NAHB is preparing for its toughest battle yet in opposing mandatory fire sprinkler requirements in the International Residential Code (IRC) and ultimately every jurisdiction that adopts it. While NAHB and member HBAs have been successful over the years in consistently and soundly defeating code proposals to mandate fire sprinklers in single family homes, this year sprinkler advocates will push for mandates with even more intensity.
To ensure the interests of building officials, home builders, and home buyers are adequately represented at the hearings, it is critical to get as many building code and other public officials as possible, who are designated voting representatives and opposed to mandatory sprinkler requirements in the IRC, to attend the final hearings in Minneapolis and vote against the proposed mandates.
NAHB is providing travel assistance grants to help local HBAs send their local building code and other public officials, designated as voting representatives by an ICC Governmental Member, to the ICC Final Action Hearings in Minneapolis, in order to ensure the interests of building officials, home builders, and home buyers are adequately represented on this issue. Under this program, $850.00 grants are available for designated voting representatives traveling to the hearings to help defray travel expenses when such funding is not otherwise available.
The exact date of the IRC portion of the hearings is not known at this time. The information will be provided as soon as the hearing order for the ICC Final Action Hearings becomes available, which will be posted on the ICC website around July 25. Preliminary feedback indicates that the IRC proposals will be heard in the second half of the hearings.
For more information contact Robert Privott at 800-662-7129 or
Anytime you take a Builders University class at your local HBA, you can earn North Carolina Builder Institute (NCBI) credit, too. Credit applies toward AA and AB designations.
Builders Mutual Insurance Company's risk management experts bring the latest safety solutions and risk management programs to you through Builders University classes. You may even qualify for a Builders Mutual insurance discount by attending and becoming Fall Protection Certified. View the Builders University schedule, and reserve your spot. Seating is limited, so register today!
The Lake Norman HBA University now offers the NCBI Accreditation Program, as part of the their program of classes! No longer will you have to drive to Raleigh for your NCBI designation courses. Classes are being held at Mitchell Community College in Mooresville, NC, on a monthly basis. The cost for HBA members is $180 per 8 hours and $95 per 4 hours. Upon completion, builders receive this prestigious designation not only with NCBI, but also with the North Carolina Licensing Board for General Contractors.
Statement From Jerry Howard, Executive Vice President-CEO National Association Of Home Builders
Jerry Howard, executive vice president and CEO of the National Association of Home Builders (NAHB), today issued the following statement:
“Fundamental analysis and statements from top federal government officials point out that the hysteria in the markets regarding the viability of Fannie Mae and Freddie Mac is unfounded. OFHEO Director James Lockhart, whose agency oversees the financial health of Fannie and Freddie, stated that they are well capitalized, have large liquidity portfolios, continued access to the debt market and the flexibility and sound operations needed to support their vital housing mission. Treasury Secretary Henry Paulson concurs, testifying this week before Congress that OFHEO has made clear that Fannie and Freddie are adequately capitalized and that they will continue to play an important role in our housing markets. click here to read the entire story
Home Builders Line Up For Green Educational Designation
Less than five months after its introduction, nearly 800 builders, remodelers and other industry professionals have earned the Certified Green Professional™ designation from the National Association of Home Builders (NAHB).
The rush to achieve the new educational designation is another sign that NAHB members continue to lead the home building industry toward resource-efficient home building, said NAHB President Sandy Dunn.
“Our clients – both new home buyers and home owners interested in a renovated kitchen or similar projects – are much more concerned about energy efficiency and utility bills this year, and that’s driving even more interest in green building techniques,” she said. click here to read the entire story
NAHB Urges Extension Of Energy Efficiency Tax Credits
Testifying July 10 on behalf of the National Association of Home Builders (NAHB) before a House Small Business Committee hearing on “The Role of Green Technologies in Spurring Economic Growth,” Cincinnati builder Andrea Lucke urged Congress to extend the New Energy Efficient Home Credit, which was enacted in 2005 and expires at the end of the year.
“The nation’s home builders have the ability to profoundly affect sustainability and conserve precious natural resources and our environment,” Lucke said. NAHB members build about 80 percent of the new housing units in the United States. click here to read the entire story
The 21st Century Building Expo & Conference (21CBEC) is giving home building professionals the chance to earn some 
