Friday, October 21, 2011

Exclusive Discount from Surplus Warehouse

Beginning Monday, October 24th thru Thursday, October 27th 20% off ALL purchases over $500.00.

We offer a wide selection of Flooring, Cabinets, Doors,
Plumbing, and so much more!

Come in Monday (the 24th) and see the many ways that you can BUILD MORE. SPEND LESS. at Surplus Warehouse.

(864) 297-6013
20 Haywood Road, Greenville, SC. 29607

U.S. Senate votes to reinstate federal loan limits

The U.S. Senate voted this week to reinstated the Federal loan limits for mortgage loans guaranteed by Fannie Mae, Freddie Mac, and the Federal Housing Administration.  The higher loan limits expired September 30 and the new limits are an average of about 10 percent lower.

From South Carolina, Senator Lindsay Graham voted in favor of restoring the loan limits.  Senator Jim DeMint voted against restoring the loan limits.  The proposal now heads to the U.S. House for its consideration.

Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev., issued the following statement regarding the Senate action to reinstate higher loan limits for Fannie Mae, Freddie Mac and the Federal Housing Administration that expired on Sept. 30:

"The National Association of Home Builders commends the Senate for approving an amendment offered by Sens. Bob Menendez (D-N.J.) and Johnny Isakson (R-Ga.) that is essential to help mend the struggling housing market, provide affordable mortgages for creditworthy home buyers and move the economy forward. The 60-to-38 vote demonstrates bipartisan support for pro-housing policies that will help our industry to create jobs and spur economic growth.

"Restoring the higher loan limits for the housing government sponsored enterprise and the FHA will provide home owners and home buyers with safe and affordable financing while providing a much-needed boost to housing markets all around the country.

"Congress must act soon to ensure that this measure is enacted into law. Otherwise, the current drop in mortgage loan limits will reduce housing demand, and place downward pressure on home prices in major markets. This will exacerbate the current housing downturn, trigger more foreclosures, impede job growth and endanger the fragile economic recovery."

Thursday, October 20, 2011

ENERGY STAR v3 implementation dates announced

ENERGY STAR v3 program for modular homes implementation dates have been announced by the U.S. Department of Energy:
  • ENERGY STAR modular homes ordered from a modular builder or homebuyer between October 1, 2011, and June 30, 2012, must comply with Version 2.5. The v2.5 guidelines can be found at ENERGY STAR'S website: Homes with sales orders placed prior to October 1, 2011 can still comply with Version 2.
  • Modular homes with an order date on or after July 1, 2012 must comply with ENERGY STAR Version 3 guidelines.
  • The technical requirements of v3 are established by the U.S. EPA and can be found on the EPA website:
The dates for implementation for manufactured homes have not been finalized.

Tuesday, October 18, 2011

Greenville makes Forbes list of top 10 downtowns in America

Forbes included downtown Greenville on its list of 10 cities with America's Best Downtowns.

As recently as fifteen years ago, there would be no chance of Greenville making anybody’s list of top downtown areas. Suffering from decades worth of neglect losing business to the suburbs, the city engaged in an aggressive renewal project that has been enormously successful in transforming the downtown into a thriving cluster of new homes, shops, restaurants, and arts offerings. “There are pedestrian areas where people are walking around and shopping, and it’s really different from the other cities in South Carolina,” says Clampet. The addition of a BMW plant 30 miles outside the city has had a big impact on the workers coming in, and has changed it, in Clampet’s terms, “from a backwater to a really functioning and beautiful place.”

Read the entire report in Forbes by clicking here.

S.C. housing shows signs of stabilizing, report says

The residential housing market in South Carolina is showing signs of stabilizing, according to the S.C. Realtors’ report for September. New listings in the state dropped 27.1% in September to 6,195 units, while pending sales slipped 10.7% to 3,319. The number of units on the market fell 15.4% to 52,611 units – “a positive supply side trend that should bring additional stability,” the report said.

In the Greater Greenville area, sales increased 14.2% to 571 units for September, compared with 500 for the same month in 2010. For the quarter, sales were up 22.8% to 1,927 units from 1,569 for the same period in 2010. The median home price for the Greenville market rose 2.7% to $144,500 for September compared with $140,750 for the same month in 2010. The average number of days on the market rose 10.9% to 112 in September from 101 for the same month in 2010.

Click here to read the entire article from GSA Business.

Number of Improving Housing Markets Nearly Doubles in October

The second monthly release of the NAHB/First American Improving Markets Index (IMI) on Oct. 5 showed that 23 individual housing markets were “improving,” nearly double the 12 markets on the list in September. The index identifies metropolitan areas that have shown improvement for at least six months in housing permits, employment and housing prices.

"Both the number and geographic diversity of improving housing markets expanded this month, with Iowa, Illinois and South Carolina all newly represented by one entry or more on the list," NAHB Chairman Bob Nielsen told Nation's Building News. "This is further evidence that, despite the tough conditions that persist in many cities, pockets of improvement are emerging in local housing markets across the country," he said.

Click here to view the metro areas included in the October list.

Monday, October 17, 2011

NAHB CEO Jerry Howard speaks out on over regulation of banks and its impact on home building

NAHB CEO Jerry Howard went on the Fox Business Network on September 19 and spoke about the need for bank regulators to recognize that housing is not a national commodity, but a series of local markets.  Howard advocated for an appropriate level of regulation based on the housing market at the local level, not the so-called "national" housing market.

Click here to watch Jerry Howard on the Fox Business Network.

NAHB Chairman Bob Nielson speaks on Fox Business Network about preserving the mortgage interest deduction

NAHB Chairman Bob Nielson went on Fox Business Network to support the mortgage interest deduction.

Click here to watch NAHB's Bob Nielson on Fox Business Network.