Time Magazine Publishes Report Critical of Homeowership

In its Sept. 6 cover story, Time magazine launches an assault on homeownership, claiming that it "may have triggered the financial crisis," "contributed to the hollowing out of cities," and "fed America's overuse of energy and oil." The Case Against Homeownership appears only in excerpted form on the magazine's website, but should be hitting subscriber mailboxes this week.

NAHB responded to this inaccurate and misleading story with a blistering letter to the editor from Chairman Bob Jones that defends homeownership as the largest creator of wealth for American families and a critical source of stability for both home owners and the surrounding community. Meanwhile, NAHB continues to aggressively challenge this anti-homeownership message, which has already generated similar stories in other national and local media outlets. We are coordinating with the National Association of Realtors, which also reacted immediately with its own response to the Time story.

In addition, NAHB Public Affairs has developed numerous reports, articles and studies on the benefits of homeownership that are available to all of our members on www.NAHB.org. The Opportunity Knocks brochure also provides excellent arguments to help deliver the message that homeownership is still a great choice for many Americans.

Read excerpts of the report in Time by clicking here.

Read information at NAHB.org supporting homeownership.

S.C. State Housing Authority Lowers Rates for First-Time Homebuyers

For the second time this year, the South Carolina State Housing Finance and Development Authority has announced lower interest rates for its popular First Time Home Buyer Program. Effective immediately the State Housing Authority has lowered rates to 4.875 percent for borrowers in Categories I and II, which include borrowers earning 50 percent and above median income household income for the state. In addition, the authority has lowered rates to 4.750 percent for Category III borrowers who early less than 50 percent of the median household income and borrowers who are disabled. All categories offer up to $5000 down payment assistance.

Read the entire report at midlandsbiz.com by clicking here.

New Flood Insurance Maps Announced

The S.C. Department of Natural Resources has announced its schedule for updating Flood Insurance Maps in Greenville County:

• Preliminary map date: December 30, 2010
• Final determination date: 10/17/2011
• Effective date of new maps: 4/17/2012

Pickens County maps were updated on April 16, 2008. Oconee County maps were updated September 11, 2009.

Other neighboring counties are on different timelines. The effective dates for other Upstate counties are:

• Abbeville: 3/3/2011
• Cherokee: 6/16/2011
• Greenwood: 5/3/2011
• Laurens: 9/29/2011
• McCormick: 3/17/2011
• Spartanburg: 1/2/2011
• Union: 8/1/2011

SCDNR is the state agency that administers the National Flood Insurance Program, and its associated maps and insurance rating systems, in South Carolina.

Group Calls Upstate a Strong Market for Real Estate Investors

According to Local Market Monitor, a real estate forecasting firm based in Cary, NC, the Upstate is one of the best markets in the country to invest in real estate. The firm ranked the Upstate 9th in its list of top ten markets "suitable for conservative investors."

Deadline to Apply for Lead Paint Certification is September 30

Remodelers and other contractors have until September 30 to apply to get their companies certified and to also sign up for the training required to comply with the U.S. Environmental Protection Agency’s Lead: Renovation, Repair and Painting rule.

Read more about the deadline in Nations Building News by clicking here.

NAHB Lawsuit Successfully Defeats EPA Stormwater Rule

A lawsuit filed by the National Association of Home Builders (NAHB) and the Wisconsin Builders Association has forced the U.S. Environmental Protection Agency (EPA) to withdraw a key portion of its new stormwater management regulations affecting builders and developers. According to NAHB, EPA will have to go back to the drawing board on the numeric limit for sediment it developed and attempted to enforce.

Read the article about this legal victory in Nation's Building News by clicking here.

SCHBSIF Can Now Write for Non-Residential Accounts!

The South Carolina Home Builders Self Insurers Fund (SCHBSIF) announced this week that it has begun writing Workers’ Compensation policies for non-residential accounts.

SCHBSIF is an exclusive member benefit of the Home Builders Association of South Carolina. Members of the HBA of Greenville are eligible to purchase Workers' Compensation Insurance from SCHBSIF. The SIF was organized in 1995 and its mission is to provide stable, affordable Workers' Compensation Insurance to members of the Home Builders Association.

Policies now being written include commercial general contractors and subcontractors who are engaged in new construction, upfitting, or renovations of non-residential projects. SCHBSIF is now able to provide coverage to entities whose exposures are 100% commercial and who perform on-site work at heights of 3 stories or less. Risks that fall outside this scope may be considered on an individual basis.

SCHBSIF also will consider businesses that provide services such as electrical or mechanical maintenance to industrial concerns like manufacturing facilities and governmental entities.

Membership in the Home Builders Association of South Carolina continues to be a requirement for participation in the SCHBSIF.

For questions regarding these new opportunities please contact Brandy Shealy, SCHBSIF Underwriting Manager, at bshealy@schbsif.com or 800-678-8178.

In addition, SCHBSIF has announced that it will be converting to a mutual insurance company in 2011. "Our target for conversion to mutual is July 1, 2011," said Andrew Woodham, SCHBSIF Marketing Director. "Conversion to mutual will create further opportunities for insurance products for HBA members."

For a list of insurance professionals who will help you purchase Workers' Compensation Insurance from SCHBSIF, click here.