Wednesday, February 2, 2011

Homes for Hope and Rosewood Communities partner to benefit mission

Homes for Hope and Rosewood Communities have partnered to construct a new home in The Woodstone Cottages off Roper Mountain Road Extension. The proceeds of the sale of the new home, expected to be about $50,000, will benefit a mission program operated by Homes For Hope.

A kick off event is set for Thursday, February 3, 11:30 a.m., at 205 Wind Thistle, in the Woodstone Cottages subdivision.

Homes For Hope, based in Irvine California, operates a mission program that provides small business loans (microloans) for aspiring entrepreneurs in 14 of the poorest countries in the developing world, such as Haiti, Afghanistan, Romania, and the Democratic Republic of Congo.

To date, Homes for Hope has generated more than $10 million in partnerships with builders and their trades across the United States, resulting in assistance to more than 100,000 struggling entrepreneurs, empowering them to work their families out of poverty for good.

Because 98 percent of all these loans are paid back with interest, the money is then recycled into new loans to give a “hand up” to people who simply want the opportunity to build lives of hope and promise for their families and communities.

FTD Special Savings for NAHB members for Valentines Day

FTD, one of the purchasing discounts included in NAHB's Member Advantage discount program, announced a special discount just in time for Valentine's Day. NAHB members making purchases between now and February 14 will received a 20 percent discount on their purchase.

To place your order and receive your discount, NAHB members should click here.

FHFA proposes rule to prohibit GSEs from backing mortgages encumbered by private transfer fees

FHFA today sent a proposed rule to the Federal Register to begin formal rulemaking on private transfer fees.

This rulemaking, which addresses comments received on a previously proposed guidance, would limit Fannie Mae, Freddie Mac, and the Federal Home Loan Banks from dealing in mortgages on properties encumbered by certain types of private transfer fee covenants and in certain related securities. Transfer fees are contractual arrangements where an owner pays a fixed amount or a percentage of the sales price at the time of transferring the property.

Your Home Builders Association of South Carolina is carefully monitoring legislation that would restrict the use of private transfer fees in South Carolina.

The proposed Federal rule would allow private transfer fees paid to homeowner associations, condominiums, cooperatives, and certain tax-exempt organizations that use private transfer fee proceeds to benefit the property. However, fees that do not directly benefit the property would be barred.

Private transfer fees set up to benefit the developer, or investors in some instances, have become increasingly common around the country. The fees are controversial and in some cases have become an impediment to real property sales, according to the National Association of Realtors.

With limited exceptions, the proposed Federal rule would apply only prospectively to private transfer fee covenants created on or after the date of publication of the proposed rule. With this formal rulemaking, comments are again being solicited and are due 60 days from publication in the Federal Register. Regulated entities are required to comply with the final rule within 120 days after its publication.

To read the proposed rule, click here.

Sunday, January 30, 2011

Southern Home & Garden Show Is Powerful Marketing Opportunity

Experience the excitement of the Southern Home & Garden Show in this video. Don't miss a powerful marketing opportunity to reach thousands of homeowners at the 50th Annual Southern Home & Garden Show coming March 4-6 to Carolina First Center. Produced by the Home Builders Association of Greenville and sponsored by BI-LO.