Help Us Help Housing: Join the Fix Housing First Coalition Today!

As you many know, things are moving on the homebuyer tax credit and now it appears that there may be a vote on it as early as next week in the US Senate. We're not sure about what that bill will look like just yet - there are a lot of bills, proposals and rumors swirling about. (See the last post in this blog for just one proposal on an amendment to a current bill.)

In preparation for next week, we need your help now to build our army. Some 50,000 people have already taken action through the Fix Housing First website, a testament to how important the tax credit has been to our economy. But we need more - it just takes a second and a few clicks to help us help your industry!

Please join the Fix Housing First coalition by clicking here. Once you join the coalition, make sure to take a few minutes to contact your Senators to let them know how important it is to the future of housing and our economy that the tax credit is extended and expanded.

Senators Isakson and Dodd Seek Action on Home Buyer Tax Credit

Senators Johnny Isakson (R-Ga.) and Christopher Dodd (D-Conn.) plan to offer an amendment to extend and expand the $8,000 first-time home buyer tax credit to a House-passed bill that would extend unemployment insurance benefits. Though it is unclear if the Senate will act on this proposal, NAHB will be urging senators to approve the amendment if it comes up for a vote.

The Isakson-Dodd proposal would extend the credit to June 30, 2010 and expand it to a wider circle of principal home buyers. It would also double the current income eligibility limit to $150,000 for single taxpayers and $300,000 for married taxpayers filing a joint return.

Reporting on the Isakson-Dodd proposal, the AP cited NAHB statistics that extending the tax credit for one year and expanding it to all buyers of a principal residence would spur 383,000 additional home sales, create more than 347,000 jobs, generate $16.1 billion in wages and salaries and $12.1 billion in business income.

To read more on Isakson and Dodd's proposal, as well as NAHB's efforts to extend the tax credit, click here. You can also visit www.ReviveHousingNow.com to find out what you can do to help.

Source: NAHB

Record Streak Continues for Pending Home Sales

Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the latest survey. The Pending Home Sales index rose 6.4 percent to 103.8 from a reading of 97.6 in July, and is 12.4 percent above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5.

Lawrence Yun, NAR chief economist, said not all contracts are turning into closed sales within an expected timeframe. "The rise in pending home sales shows buyers are returning to the market and signing contracts, but deals are not necessarily closing because of long delays related to short sales, and issues regarding complex new appraisal rules," he said. "No doubt many first-time buyers are rushing to beat the deadline for the $8,000 tax credit, which expires at the end of next month."

Source: National Association of Realtors

Gabriel Builders Receives 2009 Pacesetter Award from NAHB

HBA of Greenville builder member Gabriel Builders, Inc. has received one of eight national Pacesetter Awards from the National Association of Home Builders and Hanley and Wood's Custom Home Builder magazine. The Management award was presented to company owner and Master Builder Gus Rubio in recognition of Gabriel's quality program.

Gabriel Builders was the only builder based in South Carolina to achieve a Pacesetter award; the company is a two-time recipient of this prestigious honor. In 2005, Gabriel received its first Pacesetter award for exemplary customer service.

Congratulations, Gus and Gabriel Builders! Click here to read more about the award.

Current Public Opinion Data on Growth and Housing

A recent poll conducted by Fallon Research and Communications Inc. explored current attitudes toward the housing market and regulatory climate.

Some of the highlights:

• Americans seem to be acutely attuned to the important relationship between the housing industry and the national economy: 45% say that the real estate industry and housing market are very important to the national economy; another 48% say that they are, at least, somewhat important.
• 34% of the respondents say that they believe that over the last few months, the economy has imporved a lot or somewhat. Young adults seem more optimistic, with 37% of respondents ages 18-34 saying that the economy has improved a lot.
• Looking at growth from a local perspective, only 23% of the national survey respondents say that housing growth in their area is happening too fast. 45% say it is happening at a good pace, and 27% feel it is happening too slow.
• Despite the state of the economy and recognition of housing growth's integral role in bolstering it, there is reluctance to embrace more permissive regulatory postures toward growth. Only 32% agreed that now is the time to eliminate some of the most restrictive housing growth and development regulations. 51% disagreed - the majority of those disagreeing were 55 and older.

For more on this study, click here.

Source: Fallon Research & Communications, Inc.

Tom Gipson Wins The View's Ultimate Volunteer Contest

Congratulations to Tom Gipson, member of the Home Builders Association of Raleigh-Wake County, for winning The View's Ultimate Volunteer contest!

Tom was selected out of thousands of entries as the Ultimate Volunteer for starting the Home Builder Blitz program with Habitat for Humanity. The Builder Blitz program recruits builders to build homes for Habitat. Many HBAs across the country have participated in this program over the years, and have built thousands of homes for families in need! The HBA of Greenville participated in 4 local Builder Blitzes in 2006.

Tom will be appearing on The View on Monday, October 19. The View airs on ABC at 11 a.m. Eastern Standard Time.

Congrats again to Tom and to the HBA of Raleigh-Wake County. This is a huge win not only for them, but for HBAs and builders across the country for the charitable work we do!

SouthernHomeandGardenShow.com is now LIVE!

www.SouthernHomeandGardenShow.com is now live with all the latest details on the Fall Southern Home & Garden Show, including updated exhibitor lists, floor plan and information about special events at the first-ever Fall Show. Don't miss out - mark your calendars now for October 30 - November 1!