NAHB News
NAHB Names New Chief Economist
David Crowe, who has been the Senior Staff Vice President for Regulatory and Housing Policy at the National Association of Home Builders (NAHB) since 2002, has been named the association's chief economist. He replaces David Seiders, who recently announced his retirement after serving as NAHB's chief economist for more than 20 years.
"Dave Crowe is uniquely qualified to fill this demanding position," says Jerry Howard, NAHB's president and CEO. "Not only is he a highly regarded economist, he has extensive experience in housing finance and housing policy. Given today's turbulent economy and rapidly evolving housing finance environment, this combination of skills will be invaluable to NAHB as efforts to stabilize the housing and financial markets move forward."
Crowe, who has held several senior level positions in economics, housing policy and housing finance since he joined NAHB in 1989, holds a Ph.D. in economics from the University of Kentucky. Prior to joining NAHB, he was the deputy director for the division of housing and demographic analysis in HUD's office of economic affairs.
Howard praises Dave Seiders for his more than two decades of service to the industry, and his willingness to continue to work for NAHB in a consulting role. "Since becoming NAHB's chief economist in 1986, Dave Seiders has established himself as one of the nation's foremost housing economists and helped to solidify NAHB's position as 'the voice of the housing industry.'"
NAHB Names Remodeler of the Year
NAHB Remodelers named Jeff Hunt of Heritage Construction in Houston the 2008 Remodeler of the Year, in recognition of his industry leadership and professional remodeling accomplishments. The award was given at the NAHB Remodelers Gala during the Remodeling Show in Baltimore, Md.
"I'm honored to celebrate the achievements of a rising leader within NAHB Remodelers, for his dedication to education, charitable works and excellence in remodeling," says NAHB Remodelers Chairman Lonny Rutherford, a remodeler from Farmington, N.M.
Since becoming a member in 2003, Hunt has served in various leadership positions at the local and national levels of NAHB Remodelers. After working for many years in construction, then technology and business consultation, Hunt formed Heritage Construction five years ago. He quickly earned several designations to advance his remodeling skills, including the Certified Graduate Remodeler (CGR), Certified Aging in Place Specialist (CAPS) and the Certified Green Professional (CGP).
Besides earning accolades from his customers, Hunt has also been honored by the Greater Houston Builders Association for excellence in remodeling. He serves as a local and national leader for NAHB Remodelers. Hunt is also active in charitable works, including remodels for needy beneficiaries and partnering with Habitat for Humanity.
Homebuilders Back Economic Rescue Plan
House adoption of the Emergency Economic Stabilization Act of 2008 was strongly endorsed by the 235,000-member National Association of Home Builders (NAHB). The bill, which was approved by a 263 to 171 vote, was signed into law by President Bush.
"This legislation was absolutely essential to prevent a collapse in our financial system that would have inflicted devastating damage to our nation's economy," says Sandy Dunn, NAHB chairman and a homebuilder from Point Pleasant, W.Va.
"Hopefully, this will set the stage for rebuilding confidence, restoring the availability of credit for businesses and consumers, and reversing the downward spiral in home prices and rising foreclosures that are root causes of today's financial turmoil," says Dunn. "We will continue to work with lawmakers on both sides of the aisle to take whatever other steps are necessary to put housing and the economy back on track."
NAHB Launches Spanish Language Version of Website
The National Association of Home Builders (NAHB) has launched a Spanish language version of its popular website that provides details about the $7,500 first-time home buyer tax credit approved by Congress in late July. To access the Spanish language version of NAHB's tax credit site, go to www.NAHB.org and follow the link to the Spanish language site.
"The tax credit provides a once in a lifetime opportunity for first-time home buyers," says NAHB's 2008 Chairman of the Board Sandy Dunn. "However, the tax credit is temporary, and only homes purchased on or after April 9, 2008 and before July 1, 2009 are eligible. That makes it imperative that we get the word out to as many people as possible so they can take advantage of this outstanding opportunity."
NAHB launched www.FederalHousingTaxCredit.com shortly before the Housing and Economic Recovery Act of 2008 was signed on July 30. To date, the site has had more than 420,000 unique visitors. "Our tax credit site provides authoritative, objective information about the tax credit and explains the basics about how it works," says Dunn. "We believe that it is the only website on the internet devoted solely to providing information about the tax credit."
Holtz to Speak Builders at 2009 Builders' Show
The National Association of Home Builders (NAHB) announced that famed football coach, Lou Holtz will be the keynote speaker at its 2009 International Builders' Show (IBS), the housing industry's largest annual trade show and exhibition. The show, held Jan. 20-23 at the Las Vegas Convention Center, will play host to professionals representing all facets of the housing industry from around the world.
Regarded as one of the most successful college football coaches of all time, Holtz is the only coach in history to take six different college teams to a bowl game. The West Virginia native began his head coaching career in 1969 at the College of William & Mary, followed by head coaching positions at the University of Minnesota, University of Arkansas, North Carolina State University and then a season as head coach of NFL football team, the New York Jets. Holtz currently serves as a college football analyst on ESPN. Earlier this year, he was inducted into the College Football Hall of Fame.
Holtz's keynote address will take place on Jan. 20 during IBS Grand Opening Ceremonies. Attendees will also hear from some of the nation's top business leaders during a special daily featured speakers program. Representing a wide range of industry specialties, the speakers include renowned green business expert Andrew Winston, founder of Winston Eco-Strategies; Kevin Freiberg, notable professional speaker and founder and CEO of the San Diego Consulting Group Inc.; and Peter Hart, top public opinion analyst and founder of Peter D. Hart Research Associates.
"We are thrilled to have such extraordinary speakers presenting at the show this year," says NAHB Chairman Sandy Dunn. "Especially in these challenging times for our industry, attendees will benefit from hearing the advice of a legendary motivator and coach, as well as from some of the top minds in the business world on strategies for success in a changing marketplace."
NAHB Applauds FHA's Foreclosure Prevention Program
NAHB expressed appreciation for the efforts of the Federal Housing Administration (FHA) in meeting the Oct. 1 deadline for opening the Hope for Homeowners program, where FHA will insure new, more affordable mortgages for homeowners struggling with burdensome payments on their current home loans.
"It was critical to get this program up and running quickly in order to help stem mounting mortgage foreclosures that add to unsold home inventories and undermine home prices," says Sandy Dunn, NAHB chairman.
Under the program, the holder of a troubled mortgage must agree to accept, as payment-in-full, an amount equal to 87 percent of the current value of the mortgaged property. The borrower receives a new FHA-insured mortgage that represents 90 percent of the home's current value, with the 3 percent balance going to cover the borrower's upfront FHA mortgage insurance premium.
The homeowner is responsible for an annual mortgage insurance premium of 1.5 percent. Borrowers must meet a mortgage payment-to-income test and agree to share equity gains on the home with the federal government. FHA was granted an additional $300 billion in mortgage insurance authority by the Housing and Economic Recovery Act of 2008 to operate the new program, which was authorized for three years.
"Our members are hoping mortgage investors and servicers take full advantage of the Hope for Homeowners program," says NAHB's President Jerry Howard. "Replacing toxic mortgages with sound and affordable FHA-backed loans would go a long way in restoring order to what has been a very chaotic mortgage market."
Nominations Open For NAHB's Best of 50+ Housing Awards
The National Association of Home Builders (NAHB) 50+ Housing Council is now accepting nominations for its 2009 Best of 50+ Housing Awards, which honor excellence in building, design and marketing of housing for boomers and beyond.
"The Best of 50+ Housing Awards is a great opportunity for those serving the 50+ market to showcase their best work," says 50+ Housing Council Chair, Jo Theunissen. "The awards exemplify the most innovative work being produced for the mature market today, and we look forward to recognizing those at the forefront of our industry."
The NAHB 50+ Housing Council launched the Best of 50+ Housing Awards to encourage quality and innovation in the 50+ and seniors housing market and they are widely considered the industry's most prestigious and influential. Highlighting innovation, emerging trends and quality housing for the mature demographic, the awards showcase the best in active adult and service-enriched communities across the country.
Awards are given in three categories, including completed 50+ housing projects, projects that are currently in the design or construction process and marketing efforts pertaining to the 50+ housing community. Winners will be recognized at an awards gala during the Building for Boomers and Beyond: 50+ Housing Symposium, held April 27 to 29 in Philadelphia.
To apply for the award or for more details on eligibility requirements and categories, please visit www.nahb.org/50plusawards. Nominations will be accepted until Dec. 5, 2008.
