One of NCHBA’s top priorities during these troubling times has been to focus Congressional attention on the practices of some lending institutions that are failing to make new AD&C loans, as well as not extending credit on existing loans to otherwise credit-worthy builders. It is evident from information that we have received that some institutions are feeling pressure from federal regulators to require more equity as a condition of extending existing loans, to simply call and refuse to renew outstanding loans, and to decline to make new real estate loans. Many of these existing loans in question are performing loans where the builders have made all required interest payments. It makes little sense to turn performing loans into negative assets.
When we first began to receive widespread reports of these practices last fall, NCHBA requested a meeting with Congressman Brad Miller of Raleigh, who is a member of the House Financial Services Committee. He met with a large group of Raleigh-Wake County builders in a meeting arranged by Tim Minton, Executive Vice President of Raleigh-Wake Co. HBA.
After hearing first-hand reports of these practices, Congressman Miller volunteered to author a letter to the Treasury Department, to which the various financial regulators report. Tim and Mike Carpenter, Executive Vice President of NCHBA, worked closely with Michael Canning, Rep. Miller’s legislative assistant, to draft an appropriate letter. With help from NAHB, a final draft of this letter was prepared. Because builders all across the country are experiencing these same problems, NAHB asked Congressman Miller if he would allow his letter to be circulated to other Congressional offices to gain additional signatures. When we were in Washington last week at the NAHB Legislative Conference, the circulation of this letter to Members of Congress from around the country was a major NAHB focus.
Rep. Miller’s letter was sent to Treasury Secretary Geithner Friday, April 3, with 46 other members of Congress signed on from both sides of the aisle. You may view the letter by clicking here.
“We greatly appreciate Congressman Miller’s leadership on this issue and we appreciate the other members of our delegation who signed on to the letter,” said Mike Carpenter, NCHBA’s Executive Vice President and General Counsel. In addition to Rep. Miller, the letter was signed by North Carolina Rep. Etheridge, Rep. Jones, Rep. Price, Rep. Foxx, Rep. McIntyre, and Rep. Myrick.
The Raleigh News & Observer ran an article, "Lawmakers seek to uncork loans," on Saturday, which discussed lending practices and Rep. Miller's letter.
Photo: Rep. Brad Miller (D-N.C. 13th District) meets with a group of NCHBA members during NAHB's Legislative Day in Washington, D.C., March 24.
NAHB is stepping up its game plan to address the severe problems builders are facing with acquisition, development and construction (AD&C) loans. A central component of the strategy calls for developing compelling case studies to clearly portray the issue for regulators, legislators and others whose actions can help resolve the situation. This will involve collecting specific examples of the problems our members are encountering on a day-by-day basis. Of particular interest are stories coming from builders or developers located in relatively stable markets, which can most vividly illustrate inappropriate regulatory actions.
Accordingly, NAHB has now developed a quick-and-easy online template that for builders and developers to share AD&C experiences. This information is critical for our federation at this time, as we try to convey to Congress, the administration and federal banking regulators the urgent need for actions to help stabilize the housing market and the economy.
If you received an e-mail with a link to the survey, please take the time to fill out the short questionnaire. Your response is vital for the successful completion of this project. Individual responses will be kept strictly confidential and only the totals or averages will be published. As a participant, you will get an electronic copy of the completed report.
Other parts of NAHB's stepped-up strategy on AD&C lending will include seeking new coalition partners, continuing meetings with bank regulators, and implementing our very strong grassroots network to increase congressional outreach, as well as engaging the media where appropriate to increase awareness of AD&C loan problems.
Social media isn’t just for teenagers anymore ... learn how home builders, developers and others in the real estate industry are utilizing social media for a competitive advantage in the Lunch & Learn Seminar, "Where is the ROI for Social Media?". From social media to social networking and blogging, see case studies of how builders and associates are benefiting from embracing these powerful tools and using social media in their Internet marketing plans. There is more to it than Facebook; see how social media can help your ROI.
Carol M. Flammer, MIRM, CAPS, CSP, will be the featured speaker. Carol is Managing Partner of mRELEVANCE, LLC, a firm that combines the power of Internet marketing, social media and public relations.
Join the Associates Committee June 9 at Bonefish Grill at the Lassister for this cutting-edge seminar. The seminar is scheduled in conjunction with the NCHBA 2nd Quarter Board Meeting being held across the street at the Renaissance Hotel. Tickets are $23 if you pre-register and will include lunch. The seminar will be from 12:15 p.m. to 2:45 p.m. Registration is required. Tickets purchased on-site will be $28.
The deadline is fast approaching to nominate individuals to the North Carolina Housing Hall of Fame. The primary purpose of the NCHHF is to honor men and women who have made significant and lasting contributions to housing in North Carolina, the building industry and to the North Carolina Home Builders Association. Nominees do not have to be active or a member of the North Carolina Home Builders Association.
If you know of an individual who has excelled in making a significant and lasting contribution to the building industry, please complete the nomination form and return it to the NCHBA office at the address below. All nominations must be postmarked by April 15, 2009.
The inductee(s) will be announced at the June 2009 NCHBA 2nd Quarter Board of Directors meeting. The induction ceremony will take place during the Installation Dinner at the 2009 NCHBA 4th Quarter Meetings on December 8, 2009.
Induction into the NCHFF is a prestigious honor. All nominations will be carefully screened and given thorough consideration by the NCHHF Board of Governors. If you have any questions, please contact Erin Jones at NCHBA at 1-800-662-7129 or by e-mail at .
North Carolina Home Builders Association
Attn: Erin Jones
P.O. Box 99090
Raleigh, NC 27624
The North Carolina Home Builders Association invites you to join us at the annual Builders Classic Golf Tournament April 17 at Whispering Pines Country Club. All proceeds go to the North Carolina Home Builders Educational & Charitable Foundation Inc., a program that awards scholarships to college students majoring in a construction-related field at a two-year or four-year college.
The tournament, sponsored by Builders Mutual Insurance Co., promises to be an exciting event, with players having the opportunity to network with other industry professionals as they contribute to a worthy cause. The 18-hole course offers large greens and rolling fairways lined with pines and strategically-placed bunkers. Check-in is at 8 a.m., with a 8:30 a.m. shotgun start. The tournament is Captain's Choice format. The cost is $85 per person or $340 per team, and includes green fees, cart fee, beverages, Thursday evening barbeque dinner and lunch Friday. To register or for more information view, the Builders Classic Golf Tournament Flyer.
In 2007, a challenge was issued to all current or former presidents of a local, state or national association to put together a foursome and compete in the "President's Challenge." We plan to continue the competition this year, and once this year’s winner is announced after the tournament, the actual President’s Cup will be monogrammed and delivered to the winning president at his/her local association where it will reside (with full bragging rights) until next year when it will come back out and be competed for once again. Congratulations again to the 2008 winner, Buddy Hughes of the HBA of Davidson County.
To add to the competitive spirit of this year’s NCHBECF Golf Tournament, Bonded Builders Home Warranty is offering an incentive to those who recruit new members through the Spirit of Membership program. If any member at the tournament brings a new member paid application to the tournament, the recruiting member will receive a $35 gas card. If the applicant plays in the tournament, both get a $35 gas card. The new member may be a builder, associate or affiliate member. Click here for more information on the Spirit of Membership program offered by Bonded Builders.
National Membership Day is Tuesday, May 19. The theme for this year's membership drive is "Membership Defenders, Unite!"
For local associations that sign up to participate in March, membership recruiters will earn DOUBLE SPIKE CREDITS in March, April and May for members recruited and for members retained. This is an added incentive for spikes who have previously recruited members coming up for renewal. In years past, NAHB has only doubled Spike credits during the month of May. Due to the distressed membership climate this year, the NAHB Membership Committee has broadened the playing period so local associations and local councils can achieve greater numbers and more sustainable recruitment practices. Quality counts in membership, and this campaign is designed to help participating members discover their superpowers and truly become Membership Defenders.
A game, Apathy Attacks, will also add to the fun of this year's campaign. The new game helps locals form teams that compete against one another during the playing period, complete with Power Jolts and Team Challenges to help keep the teams focused and having fun.
A three-tiered prize structure is in place to continue to incentivize and reward membership heroes who contribute to the strength of their local association and local councils. As always, the prizes are available, free of charge, to all participating local associations at the conclusion of the campaign.
If local associations don't sign up until April, double credits are only available for April and May, so sign up now! Local associations can sign the Participation Pledge online at www.nahb.org/membershipdefenders. For more information on the Apathy Attacks, visit www.nahb.org/ApathyTracker. To talk to one of NAHB’s Membership Defenders, contact or dial 800-368-5242, ext. 8440.
The North Carolina Home Builders Educational & Charitable Foundation, Inc. is now accepting nominations and applications for its college scholarships. The foundation awards scholarships based on a combination of need and merit to four-year college students entering their junior or senior year and technical school students entering their second year who have declared their major in a construction related field.
To be eligible a student must meet the following criteria:
Applicants must be nominated by a NCHBA member firm.
Nominees shall be immediate family members (i.e. children, step-children or grandchildren). Students related by marriage, (i.e. son-in-law, daughter-in-law, etc.) shall not be eligible.
Immediate family members of any current trustee of the NCHB Educational & Charitable Foundation, Inc. shall not be eligible.
Awards are for one year, but scholarship winners may submit a renewal application and be considered for renewal if they make satisfactory progress in their studies.
Only full-time students will be considered. NCHBA defines a full-time student as one taking a minimum of 12 credit hours per semester.
The deadline for entries is April 30, 2009. For a nomination form or an application packet, contact NCHBA at (800) 662-7129; (919) 676-9090 or e-mail: . Mail completed applications to: North Carolina Home Builders Association (NCHBA), P. O. Box 99090, Raleigh, NC 27624.
Reach the most influential home builders and new home sales professionals in North Carolina by sponsoring the 2009 STARS Awards Gala. As a STARS Award sponsor your company name will be promoted to more than 18,000 leading building professionals throughout the year and during the 21st Century Building Expo & Conference. The STARS sponsorship program ultimately offers you the advantage of complete, comprehensive and direct market exposure for your company.
For more information, view the STARS Sponsorship Brochure. Sponsorships are available at a variety of levels. For more details about sponsorships, contact Kathryn Atkinson at (800) 662-7129 or by e-mail at .
Last Thursday Kelly St. Germain, EO of Ashe Co. HBA, gave a talk on "50 Ways to Drive Traffic to Your Web Site" at a free SCORE workshop in Boone, NC. He has posted the 8-minute video on YouTube for anyone interested interested viewing at http://www.youtube.com/watch?v=jtT7CQUODxQ.
SCORE "Counselors to America's Small Business" is a nonprofit association dedicated to educating entrepreneurs and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).
"Green Building for Building Professionals" and "Business Management for Building Professionals" Classes
Green Home Builders of WNC and Haywood County HBA are offering the courses April 22-24 at Haywood Community College. Deadline to register is April 7. Code Update Seminar Scheduled
The Moore County HBA BUILD-PAC Committee is hosting a N.C. Building Code Update Seminar on May 14. Robert Privott, Director of Codes and Construction, will be the guest speaker and will highlight the changes between the 2006 and 2009 North Carolina residential code. Some of the code changes he will be addressing become effective July 1, 2009.
If you have a question about building codes, this is your chance to ask! The seminar will be from 10 a.m. to 2 p.m. at the MCHBA Office located at 10022 Highway 211 East in Aberdeen. The fee is $20 and lunch will be provided. Proceeds go to BUILD-PAC. Contact the MCHBA at 910-944-2992 or .
Qualified Home Buyers Can Choose When to Claim Tax Credit
With the deadline for filing federal tax returns fast approaching, the National Association of Home Builders (NAHB) has made information available for qualified home buyers about how and when to claim the $8,000 first-time home buyer tax credit.
The basic eligibility requirements for the credit are: the home must have been purchased on or after Jan. 1 and before Dec. 1, 2009; the buyer may not have owned a home in the three years prior to the purchase; and the buyer must have a modified adjusted gross income (MAGI) less than $95,000 for single tax payers or $170,000 for married filers.
Two factors affect the amount of credit qualified buyers can claim: it can only be equal to 10 percent of the purchase price of the home, up to a maximum of $8,000; and it is reduced for buyers with a MAGI between $75,000 for single taxpayers ($150,000 for married filers) and the upper income limit.
After hearing first-hand reports of these practices, Congressman Miller volunteered to author a letter to the Treasury Department, to which the various financial regulators report. Tim and Mike Carpenter, Executive Vice President of NCHBA, worked closely with Michael Canning, Rep. Miller’s legislative assistant, to draft an appropriate letter. With help from NAHB, a final draft of this letter was prepared. Because builders all across the country are experiencing these same problems, NAHB asked Congressman Miller if he would allow his letter to be circulated to other Congressional offices to gain additional signatures. When we were in Washington last week at the NAHB Legislative Conference, the circulation of this letter to Members of Congress from around the country was a major NAHB focus. 
National Membership Day is Tuesday, May 19. The theme for this year's membership drive is "Membership Defenders, Unite!" 
Reach the most influential home builders and new home sales professionals in North Carolina by sponsoring the 2009 STARS Awards Gala. As a STARS Award sponsor your company name will be promoted to more than 18,000 leading building professionals throughout the year and during the 21st Century Building Expo & Conference. The STARS sponsorship program ultimately offers you the advantage of complete, comprehensive and direct market exposure for your company.
