ReNews -- Remodelors Council News - 08/06/2003 (Plain Text Version)View Graphical Version | Subscribe to NAHB Publications | Email our Editor... Record Home Sales Push Up Remodeling ActivityRemodeling Activity Indicator (RAI) for Second Quarter 2003 Released The past four quarters proved to be a good year for remodeling expenditures, with homeowner expenditures rising by 6.1%, and total spending exceeding $122 billion. "Given a resilient housing market and low interest rates, homeowners continue to reinvest in their homes in the midst of a sputtering economy," remarked Nicolas P. Retsinas, director of the Joint Center for Housing Studies. Kermit Baker, director of the Center's Remodeling Futures Program, explained that "home sales have been at or near record levels in recent months. When households purchase a home, they typically undertake some desired improvements." He concluded that, "low interest rates have made these improvements more affordable." The RAI is regularly released by the Joint Center's Remodeling Futures Program during the third week after each quarter's closing — two quarters before the U.S. Commerce Department's data on residential improvements and repairs is available — in order to provide industry with an accurate and timely reading of national remodeling activity levels. The next release date is October 16. This story was provided by Harvard's Joint Center for Housing Studies. The Joint Center is the nation's leading center for information and research on housing in the United States. Established in 1959, the Joint Center is a collaborative unit affiliated with the Harvard Design School and the Kennedy School of Government. The Director of the Joint Center for Housing Studies since 1998 is Nicolas P. Retsinas. For more information, the website is www.jchs.harvard.edu. New Fannie Mae Mortgage Options Designed to Help Urban Renovations and Home BuyersIn an effort to help urban home buyers finance and/or renovate one- to four-unit properties in one loan, U.S. Representative Robert Menendez (D-NJ), lender partners, and representatives from Fannie Mae (FNM/NYSE), the nation's largest source of financing for home mortgages, announced enhancements to mortgage lending options that target America's aging urban housing stock. Home improvement and housing preservation can be costly, especially for borrowers with limited finances. To that end, lenders may offer mortgage loans that feature higher loan-to-value ratios for two- to four-unit properties and allow homebuyers to purchase and renovate a single unit or a two- to four-unit property with one loan. These mortgage options are especially beneficial to urban markets, which have a high concentration of underserved borrowers and an aging housing stock requiring rehabilitation. Fannie Mae will purchase the eligible loans that are originated by lenders that have demonstrated experience in community lending for two- to four-unit properties and renovation, including The Bank of New York (BNY), Wachovia, Washington Mutual, Fleet Mortgage, and Countrywide Home Loans. This was story provided by Fannie Mae. Click here to review the entire press release regarding this pilot program. This pilot program is available only through lenders who sell loans to Fannie Mae. It’s important for a lender to check with Fannie Mae if they’re not already familiar with the pilot. [return to top] Small Business Health Insurance Legislation Before the SenateNAHB advocacy and legal departments are working to make your professional lives easier and the housing industry stronger. A problem many members face is the ability to offer health insurance as an employee benefit. A solution may be found with the Small Business Health Fairness Act (H.R.660 / S.545), which is currently being considered in Congress, allows for the creation of Association Health Plans (AHPs). AHPs would give small business owners like you the opportunity to band together across state lines to purchase health insurance as one large group. Under current law, large corporations and labor unions are allowed to offer health care plans to their employees and members under one uniform set of federal guidelines. Yet a trade association representing small businesses — who are already at a disadvantage when shopping around for health plans on their own — is forced to comply with each of the 50 states’ individual guidelines and mandates in order to provide insurance opportunities to its members. H.R. 660 and S. 545 would allow associations to use the same federal guidelines as the corporations and unions — effectively providing their small business members with equal treatment in the health insurance marketplace. By allowing small businesses to band together through their association membership in order to obtain insurance as one large group, they achieve much greater economies of scale and a better chance at securing stable, affordably priced insurance. The House passed H.R. 660 on June 19 by a vote of 262-162. Attention is now focused on the Senate, with both small businesses and the White House urging lawmakers to consider the legislation during this Congress. For more information or to get involved, NAHB’s Legislative and Political Relations department at 800-368-5242 x8470 for more information. [return to top] Keep Your Business Growing Through EducationNAHB’s University of Housing is offering educational programs as pre-show events for the 2003 Remodelers’ Show. The Remodelers’ Show, produced by Hanley-Wood and sponsored by NAHB and the Remodelors™ Council, will take place October 23-25 at the Baltimore Convention Center in Baltimore, MD. The pre-show education begins on Monday, October 20. The courses being offered include:
The pre-show course schedule and descriptions are available at the Remodelers' Show Web site. Go to www.remodelersshow.com for course and show registration or for detailed show information. Sign-up for the NAHB courses is available when completing the Show registration. Education plays a significant role in managing a successful business; keep your business growing by attending the pre-show education courses at the Remodelers’ Show. [return to top] Remodelors™ Council Fall Board ScheduleThe Remodelors Council encourages you to become a leader in the remodeling industry by attending the NAHB Fall Board of Directors meeting to be held September 17-21 in Boston. Committee meetings are open to everyone, and members of the NAHB Remodelors™ Council are eligible to join several of the Remodelors Council’s Committees including Public Affairs, Membership, and Education and Business Development. Go to www.nahb.com to register for the Fall Board Meeting. Remodelors Council Events at NAHB Fall Board Meeting Wednesday, September 17 Thursday, September 18 Friday, September 19 Remember! Remodelor™ of The Year Entries Due September 2The Remodelor™ of the Year award is a special category of the Council Awards For Demonstrating Remodeling Excellence (CADRE) program. The Remodelor™ of the Year award recognizes exemplary NAHB involvement at any level, superior business management, and an outstanding contribution to the remodeling industry. State and Local Remodelors Councils are invited to nominate individual remodelers (but the nominee must write his or her own entry essay). Click here for the CADRE/Remodelor of the Year application. All completed applications must be received by September 2. The winners will be announced at the Remodelors™ Council Gala during the 2003 Remodeler’s Show in Baltimore (October 23 – 25). The CADRE/Remodelor™ of the Year Awards is sponsored by Pella Corporation and Professional Remodeler magazine. Play 'Ball' with the Remodelors™ CouncilJoin your peers at Oriole Park at Camden Yards for the most prestigious event of the NAHB Remodelors™ Council’s calendar, The Remodelors Council Gala. This year’s gala will be hosted in a century-old landmark — the B & O Warehouse on the grounds of Oriole Park on Friday, October 24, 6:30 - 11:00 p.m. The warehouse is the longest brick building in the Untied States east of the Mississippi River and provides a dramatic view of the ball field at night. The Remodelors™ Council Gala celebrates the achievements of the 2003 Class of the America’s Best National Remodeling Hall of Fame, 2003 CADRE Award winners, and Remodelor™ of the Year. A cocktail reception will be followed by an awards presentation, dinner, and dancing. Ticket price is $75 per NAHB Member and $85 per Non-Member. Registration is available at www.remodelersshow.com. This event is black tie optional. [return to top] International Housing Conference of the Americas in MexicoThe U.S./Mexico Partnership for Prosperity initiative created by President George Bush and President Vicente Fox, of Mexico, with its special focus on housing, provides the perfect backdrop for the First NAHB International Housing Conference of the Americas in Mexico. Following the high profile kick-off P4P conference in San Francisco in June, the International Housing Conference of the Americas in Mexico City, October 16-18, will provide the perfect venue for learning about the Mexican housing market and building linkages between the U.S. and Mexican housing industries. Register now for the First NAHB International Housing Conference of the Americas in Mexico, October 16-18. Visit: www.nahb.org. [return to top] Member Advantage: save 15% on payroll processing with Paychex®NAHB members save 15% on payroll processing charges and 401(k) and Section 125 set up fees with Paychex. In addition to employee payroll checks and statements, Paychex produces accounting records and management reports, tax payment notices, and payroll tax returns. Call 800-729-2439 for complete details. Identify yourself as an NAHB member and use Member Advantage code 5685. To order online and for details on more than a dozen other money-saving Member Advantage discount programs click here, or send a blank e-mail to membersavings@nahb.com. Go to www.nahb.org to explore the numerous advantages associated with membership in your local, state and national home builders association. For more information or to contact us directly, please visit www.NAHB.org | ©2003, National Association of Home Builders |