South Carolina ranked 7th in nation for business climate

Site Selection magazine ranked South Carolina 7th in the nation for best business climate.  Click here to read the complete report at GSA Business.

Martha Childress Task Force and Fundraising Opportunities

The HBA of Greenville Board of Directors has formed the Martha Childress Task Force to modify Martha's home in preparation for returning from a rehabilitation facility. Martha continues to heal and is making great strides in recovering from a gunshot would that left her paralyzed from the waist down.

If you are unable to contribute labor or materials to these two projects, please consider a cash contribution to the Martha Childress Housing Fund. All proceeds not spent on her housing needs will be donated to a fund for her ongoing health needs. Checks can be made payable to HBA of Greenville Attn: Martha Childress Fund, 5 Creekside Park Court Ste. A, Greenville, SC 29615.

Additional fundraising opportunities have been set up to help Martha (http://elephantstrong.org/fundraising.html).

If you have any questions, please contact the HBA office at info@hbaofgreenville.com or (864) 254-0133.

Rosewood Communities breaks ground on a house to benefit Homes For Hope

Craig Perfect, Allcon of Greenville

Rosewood Communities broke ground this week on a new house that will benefit Homes For Hope, a charity that raises money for Hope International.

The home will be built at Waterstone Cottages on Blacks Drive and is the third home built by Rosewood Communities for Homes For Hope.

Rosewood Communities teams up with its suppliers and subcontractors to build the home.  The partners in the home donate or deeply discount goods and services, maximizing the proceeds form the sale of the home.  When the home is sold the profits are donated to Homes For Hope.  Hope International uses the money to make micro loans to small businesses in third-world countries like Haiti.  To date, Rosewood's contributions to Homes for Hope have helped more than 9,000 people.

Member companies contributing to Rosewood's Homes for Hope project include Allcon of Greenville, which with its suppliers donates the roof of the home, Carter Lumber, which donates the door and window packages, and Greer State Bank, which finances the project.

Homes for Hope, based in Frisco, Texas, also is an HBA member.  To learn more about Homes for Hope, click here.

Statement On Supreme Court Decision To Hear Case On Greenhouse Gas Emissions

The National Association of Home Builders (NAHB) has released the following statement from Chairman Rick Judson, a home builder and developer from Charlotte, N.C.

“NAHB is pleased by the U.S. Supreme Court’s decision to hear American Chemistry Council, et al. v. U.S. Environmental Protection Agency (EPA) to challenge EPA’s plan to regulate greenhouse gas emissions under the Clean Air Act.

“Because of the way EPA has interpreted the statute, many NAHB members might be forced to obtain an expensive pre-construction permit for greenhouse gas emissions, which would bring most multifamily and mixed-use development to a halt. Some single-family and potentially even master-planned community development would also be affected.”

NAHB is part of a coalition that includes the American Chemistry Council, the American Petroleum Institute, the National Association of Manufacturers, the American Fuel and Petrochemical Manufacturers and the National Oilseed Processors Association. Briefing in this case will take place during the fall and winter of 2013. Oral argument will be held in February 2014 and a decision is expected in late spring 2014.

FHFA House Price Index Up 0.3 Percent in August

U.S. house price appreciation continued in August 2013, with prices rising 0.3 percent on a seasonally adjusted basis from the previous month, according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI). The August HPI change marks the nineteenth consecutive monthly price increase in the purchase-only, seasonally adjusted index. The previously reported 1.0 percent increase in July was revised downward to a 0.8 percent increase.

The HPI is calculated using home sales price information from mortgages either sold to or guaranteed by Fannie Mae and Freddie Mac. From August 2012 to August 2013, house prices were up 8.5 percent. The U.S. index is 9.4 percent below its April 2007 peak and is roughly the same as the April 2005 index level.

For the nine census divisions, seasonally adjusted monthly price changes from July to August ranged from -0.5 percent in the South Atlantic division to +1.3 percent in the Mountain division, while the 12-month changes ranged from +4.0 percent in the Middle Atlantic division to +18.2 percent in the Pacific division.

Monthly index values and appreciation rate estimates for recent periods are provided in the table and graphs on the following pages. Click here for complete historical data.

For detailed information on the monthly HPI, see HPI Frequently Asked Questions (FAQ).

Want Your Voice Heard? Join an HBA Committee

Want your voice heard? Want to help make your association better, smarter, more relevant? Join an HBA of Greenville Committee. Want to know more about our committees? Click here to review our committee list and download job descriptions. Want to volunteer? Simply email Michael Dey at mdey@hbaofgreenville.com and state your committee preference. Don't want to serve on a committee but still want to volunteer? Send Michael an email with your areas of interest. The board forms task forces on a regular basis that handles a specific task and then disbands. Your association would love to have your help.

Flood Insurance Legislation Would Provide Premium Relief for Home Owners

At your HBA’s urging, the House and Senate on Oct. 29 introduced identical flood insurance legislation that would provide relief from soaring flood insurance premium rates for countless home owners across the nation, prevent undue hardship on the recovering housing market, stop home values from dropping and make the National Flood Insurance Program stronger and more effective for years to come.

Championed in the Senate by Sens. Robert Menendez (D-N.J.) and Johnny Isakson (R-Ga.) and in the House by Reps. Michael Grimm (R-N.Y.) and Financial Services Committee Ranking Member Maxine Waters (D-Calif.), the Homeowner Flood Insurance Affordability Act offers a common-sense solution to fix some of the costly and unintended consequences resulting from the implementation of the Biggert-Waters Flood Insurance Reform Act.

The legislation would prevent premium rate hikes from taking effect for four years, which will give the Federal Emergency Management Agency (FEMA) time to conduct an affordability study and to reimburse those who can prove that its existing flood plain maps are inaccurate. The measure also requires FEMA to adopt sound engineering practices to accurately determine flood risk.

Though the Homeowner Flood Insurance Affordability Act will address many of the concerns NAHB members had with the Biggert-Waters Flood Insurance Reform Act, NAHB is disappointed that this legislation does not address the treatment of non-primary residences and an issue of importance to remodelers.

The “substantial improvement” threshold – or the value of remodeling and renovation projects that cause the insurance premium rate increases to kick in – was lowered from 50% to 30% in the Biggert Waters Flood Insurance Reform Act. This lower threshold – which was unchanged in the newly unveiled House and Senate legislation -- is a potential disincentive for home owners who are considering hiring a professional remodeler to make improvements to their properties.

In addition to Menendez and Isakson, original cosponsors of the Senate bill include Sens. Thad Cochran (R-Miss.), Heidi Heitkamp (D-N.D.), John Hoeven (R-N.D.), Mary Landrieu (D-La.), Jeff Merkley (D-Ore.), and David Vitter (R-La.).  Other cosponsors of the House bill include Reps. Bill Cassidy (R-La.) and Cedric Richmond (D-La.).