Did You Know?
According to Demo Memo, a blog about demographic trends, household income for dual-income couples rose 5 percent between 2000 and 2010, adjusted for inflation, while income for all households fell 7 percent during the same period.
The Home Builders Association of Greenville are your neighbors and community leaders providing education and support for building industry professionals. We create jobs, encourage homeownership, and promote responsible growth throughout the upstate of South Carolina.
Thursday, November 17, 2011
Big Box Homes?
BUILDER magazine featured super-size homes, and the builders who have profited from them, in an article on builderonline.com. From the article:
"...the big-box home trend was born as a way to compete with resales because it is rare to find large homes among resales and foreclosures, making their plus-size a product differentiator. Also, the larger homes can often pass muster with appraisers more easily, because the bigger the house, the smaller the square-foot price, and the higher-priced portions of the home, kitchens and bathrooms, are amortized over a larger number of square feet. The lower price per square foot helps the homes compete with the lower per-square-foot cost of distressed home sales."
Read the entire article at builderonline.com by clicking here.
"...the big-box home trend was born as a way to compete with resales because it is rare to find large homes among resales and foreclosures, making their plus-size a product differentiator. Also, the larger homes can often pass muster with appraisers more easily, because the bigger the house, the smaller the square-foot price, and the higher-priced portions of the home, kitchens and bathrooms, are amortized over a larger number of square feet. The lower price per square foot helps the homes compete with the lower per-square-foot cost of distressed home sales."
Read the entire article at builderonline.com by clicking here.
South Carolina ranked sixth in domestic migration in 2010
In a study by New Geography, South Carolina ranked sixth in net domestic migration in 2010, and has not ranked lower than seventh since 2001.
Read the report at newgeography.com by clicking here.
Read the report at newgeography.com by clicking here.
Wednesday, November 16, 2011
TD Bank will add 1,600 new jobs in South Carolina, 1,400 in Greenville
TD Bank announced today that it will add 1,600 new jobs in South Carolina over the next five years, 1,400 of those jobs will be at the Greenville headquarters on Millennium Parkway. The other 200 positions will be added in Lexington.
TD also will spend $17.1 million to renovate the three buildings it owns on Millennium Parkway, fronting I-85. The buildings were completed in 2008 but have stood largely empty since their completion.
TD also will spend $17.1 million to renovate the three buildings it owns on Millennium Parkway, fronting I-85. The buildings were completed in 2008 but have stood largely empty since their completion.
If you bought real estate in 2011, you could be eligible for a property tax reduction
Did you buy property in 2011 that is assessed at the 6 percent assessment ratio? You may be eligible for a property tax discount.
The General Assembly enacted the Point of Sale Bill (H.3713) that among other things provides for a 25 percent reduction in the fair market value of property bought in 2011 and assessed at the 6 percent assessment ratio (commercial, rental, second homes).
In order to receive the reduction, the property owner must apply to the local tax assessor's office by January 30, 2012.
The General Assembly enacted the Point of Sale Bill (H.3713) that among other things provides for a 25 percent reduction in the fair market value of property bought in 2011 and assessed at the 6 percent assessment ratio (commercial, rental, second homes).
In order to receive the reduction, the property owner must apply to the local tax assessor's office by January 30, 2012.
- Greenville County: www.greenvillecounty.org or 864-467-7300
- Pickens County: www.pickensassessor.org or 864-898-5872
- Laurens County: www.laurenscountytaxes.com or 864-984-6546
- Spartanburg County: www.spartanburgcounty.org or 864-487-2552
- Anderson County: www.andersoncountysc.org or 864-260-4028
- Oconee County: www.oconeesc.com or 864-638-4150
- Greenwood County: www.co.greenwood.sc.us or 864-942-8537
- Abbeville County: www.abbevillecountysc.com or 864-366-5312 ext. 102
- Union County: www.countyofunion.org or 864-429-1600
- Cherokee County: www.cherokeecountysctax.com or 864-487-2543
Call To Action: Restore FHA Loan Limits
H.R. 2112 Restores FHA Mortgage Loan Limits
Write your members of Congress via Capitol Connect
Call your members of Congress at (866) 924-NAHB (6242)![]()
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On September 30, 2011, Congress allowed the conforming loan limits for Fannie Mae, Freddie Mac and Federal Housing Administration (FHA) to shrink. The failure of Congress and the Obama Administration to act on the loan limits extension is the beginning of an effort to greatly reduce the federal government’s role in housing.
Over the last few weeks, Congress has been hard at work crafting language to restore conforming loan limits. H.R. 2112 is an appropriations bill that allows the Federal Housing Administration (FHA) mortgage loan limits to be restored to their previous levels. Congress will be voting on H.R. 2112 later this week. Restoring the loan limits will provide consumers in all markets access to safe, affordable mortgage financing.
Write your members of Congress via Capitol Connect
Call your members of Congress at (866) 924-NAHB (6242)
On September 30, 2011, Congress allowed the conforming loan limits for Fannie Mae, Freddie Mac and Federal Housing Administration (FHA) to shrink. The failure of Congress and the Obama Administration to act on the loan limits extension is the beginning of an effort to greatly reduce the federal government’s role in housing.
Over the last few weeks, Congress has been hard at work crafting language to restore conforming loan limits. H.R. 2112 is an appropriations bill that allows the Federal Housing Administration (FHA) mortgage loan limits to be restored to their previous levels. Congress will be voting on H.R. 2112 later this week. Restoring the loan limits will provide consumers in all markets access to safe, affordable mortgage financing.
In the Upstate, the FHA conforming loan limits were reduced in Greenville, Pickens, and Laurens counties, but not in the rest of the Upstate.
Housing markets remain fragile. Restoring the limits will provide stability, while private investors reenter the market.
Click here to see the impacts of the lower FHA loan limits by county
Talking Point:
Housing markets remain fragile. Restoring the limits will provide stability, while private investors reenter the market.
Click here to see the impacts of the lower FHA loan limits by county
Talking Point:
- Support H.R. 2112 to stabilize housing prices and the mortgage market.
- Write to your members of Congress via Capitol Connect;
- Call your members of Congress at (866) 924-NAHB (6242).
Tuesday, November 15, 2011
South Carolina second in states that would be negatively impacted by a European recession
South Carolina ranks second among states that would be negatively impacted by a recession in the European Union. Why: auto manufacturing. Specifically BMW. What state is first? Utah (gold and other minerals).
Read the entire report at WSJ.com.
Read the entire report at WSJ.com.
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