Wednesday, August 3, 2016

Lots in 2015 Smallest on Record

The median lot size of a new single-family detached home sold in 2015 dropped under 8,600 square feet for the first time since the Census Bureau’s Survey of Construction started tracking the series.

An acre is 43,560 square feet, so the current median lot size is just under one-fifth of an acre. Using a football field as a measuring stick, 5.6 median lots would fit between the goal lines of a football field in 2015.

As National Association of Home Builders economist Natalia Siniavskaia reports in a recent Eye on Housing blog post, although the nation’s lots are getting smaller on average, the regional differences in lot sizes persist.

Looking at single-family (attached and detached) spec homes started in 2015, the median lot size in New England exceeds half an acre. This is 2.6 times larger than the national median.

New England is known for strict local zoning regulations that often require very low densities. Therefore, it is not surprising that more than half of single-family spec homes started in New England are built on some of the largest lots in the nation, with more than half of the lots exceeding half an acre.

The East South Central Division is a distant second, with the median lot occupying less than one-third of an acre. The Pacific Division, where densities are high and developed land is scarce, has the smallest lots – half of them are under 0.15 acres. The neighboring Mountain and West South Central Divisions also report typical lots smaller than the national median, at 0.17 and 0.16 acres, respectively.


Our Condolences

On behalf of the Home Builders Association of Greenville members and staff, we would like to extend our sincere sympathy to the family of James W. Niell, father of Beth Smith and father-in-law of Chet Smith, both agents with BHHS C Dan Joyner – North Pleasantburg.

Services were held on Thursday, July 28, 2016, in Charlotte, NC. Please keep them in your thoughts and prayers.

Tuesday, August 2, 2016

Quarter 1 Report: $5,376 Earned in Member Rebates

All of our Builder and Remodeler members have access to the Home Builders Association of South Carolina's Member Rebate Program---but not many are utilizing it.

The two Home Builders Association of Greenville members who cashed in their rebates thus far for the first quarter of 2016 cumulatively earned $5,376 back in rebates. 

The program is easy to apply for and can save you thousands of dollars annually for simply using the products and brands that you may already use.

How to Apply
  1. Register: To start receiving your rebate, please register (tells us where to mail the check). If already registered, skip to the next step.
  2. Calendar & Deadlines: View the calendar to determine what you can claim for and when the deadline is to submit. 
  3. Claim: Every Quarter if you have a completed home, remodeling project, or multi-family unit that used any of our participating Manufacturers, complete and submit the current Rebate Claim Form. If you are struggling to follow the steps, watch this video for a demonstration: Tutorial Videos on How to Claim
  4. Once your Rebate Claim has been submitted, please view our Claims Process link for detail on when you will receive your Remittance Statement and your Rebate Check.
  5. Contact the Member Rebate Program with any specific questions you may have.

If you are a builder or remodeler and a member of the Home Builders Association of Greenville, you will only gain from participating in this program. Contact Home Builders Association staff if you have further questions about this program.



Friday, July 29, 2016

Thank You PAC Donors

Thank you to our South Carolina Builders Political Action Committee donors for helping to improve and preserve our industry. Take a look at the bills the PAC has supported or fought in an effort to protect the housing industry.


Free Greenbuild Expo Pass for HBA of Greenville Members

Home Builders Association of Greenville members can register for the annual Greenbuild International Conference and Expo — which takes place Oct. 5-7, 2016 in Los Angeles — and be eligible for a free pass to the show floor on Oct. 5 and 6.

That’s normally a $100 ticket, but because of the Top Tier Partner status the National Association of Home Builders has arranged, it’s a free member benefit this year.

This year’s show features the KB Home ProjecKT, focused on affordable high-tech design, and other events and exhibits that appeal to residential builders, a growing focus of the annual green show.

To take advantage of the member discount, register using this portal. Early-bird registration for the full conference, which includes education sessions, ends Aug. 1.

Wednesday, July 27, 2016

FHFA Indices Show Little Movement in Interest Rates

From the Federal Housing Finance Agency:

Nationally, interest rates on conventional purchase-money mortgages were nearly flat from May to June, according to several indices of new mortgage contracts.

The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.69 percent for loans closed in late June, down 1 basis point from 3.70 percent in May.

The average interest rate on all mortgage loans was 3.70 percent, unchanged from May.

The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.88 percent, down 1 basis point from 3.89 in May.

The effective interest rate on all mortgage loans was 3.83 percent in June, unchanged from May. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage.

The average loan amount for all loans was $333,900 in June, up $4,400 from $329,500 in May.

Federal Housing Finance Agency will release July index values Tuesday, August 30, 2016.

For more information, call David Roderer at (202) 649-3206. To hear recorded index information, call (202) 649-3993. To find the complete contract rate series, go to www.fhfa.gov/Default.aspx?Page=251.


Technical note: The indices are based on a small monthly survey of mortgage lenders, which may not be representative. The sample is not a statistical sample but is rather a convenience sample. Survey respondents were asked to report terms and conditions of all conventional, single-family, fully amortized purchase-money loans closed during the last five working days of the month. Unless otherwise specified, the indices include 15-year mortgages and adjustable-rate mortgages. The indices do not include mortgages guaranteed or insured by either the Federal Housing Administration or the U.S. Department of Veterans Affairs. The indices also exclude refinancing loans and balloon loans. June 2016 values are based on 6,487 reported loans from 16 lenders, which include savings associations, mortgage companies, commercial banks, and mutual savings banks.

Tuesday, July 26, 2016

PWB Education Event Was a Hit

The Professional Women in Building Council hosted its first education event last Friday, July 22nd at Progress Lighting. Nationally renowned speaker Deb Sofield spoke to the group on improving speaking skills, personal presentation in a business setting, and moving forward in life with her "15 Rules for the Road." The event was sponsored by Pestban and presented by Ryan Homes and DHI Mortgage.
Attendees enjoy breakfast and networking before Deb's presentation.
Title sponsor Brian Harrison of Pestban address the group with PWB Chairwoman Brittany Bailey of Ryan Homes.

PWB Board member Renata Caldwell of Progress Lighting with speaker Deb Sofield.

Deb giving her presentation.


Thank you, Deb!