BISMARCK-MANDAN HOME BUILDERS ASSOCIATION FEBRUARY 2022 || WWW.BMHBA.COM
BUILDING Building Buzz is a publication of the Bismarck-Mandan Home Builders Association.
Bismarck-Mandan Home Builders Association 2600 Gateway Ave, Ste 1 Bismarck, ND 58503 Phone: 701.222.2400
www.facebook.com/bmhba PROFESSIONALS BUILDING OUR COMMUNITY THROUGH
PROMOTION OF
SINCE 1958.
JAMIE SCHMIDT, PRESIDENT Investcore, Inc. 1601 N 12th St. Suite 605 Bismarck, ND 58501 (701) 223-3030 jamie.schmidt@investcore.com
JOE VETTER Joe Vetter Construction 2523 Powder Ridge Circle Bismarck, ND 58503 (701) 258-9394 joevetterjvc@gmail.com
JOE HILLERSON, VICE PRESIDENT Boulder Homes PO Box 1421 Bismarck, ND 58502 (701) 400-5554 boulderhomesnd@gmail.com
VICKI MORAN Hallmark Homes 3200 Rock Island Place, Suite 4 Bismarck, ND 58504-7717 (701) 471-7634 hallmarkhomes@outlook.com
AMY LARSEN, 2ND VICE PRESIDENT Apex Builders PO Box 652 Mandan, ND 58554 (701) 527-7899 amy@apexbuildersnd.com
MCKENZIE LAWLER Dakota OutdoorScapes 8351 Hwy 1804 N Bismarck, ND 58503 (701) 595-0890 mckenzie@ndscapes.com
LORI WILLSON, TREASURER Northern Plains Plumbing, Heating & Air 2510 Vermont Ave Bismarck, ND 58504 (701) 226-8810 lori@northernplains.net
RON STOTZ CAVES 1365 Tacoma Ave, Suite 1 Bismarck, ND 58504 (701) 751-1162 rons@cavesnd.com
GREG MEIDINGER, PAST PRESIDENT Aspire Homes 3313 Bayshore Bend SE Mandan, ND 58554 (701) 426-8583 greg@daretoaspirend.com
ANDREW MELDAHL Pinnacle Homes and Design 214 Riverwood Ave Mandan, ND 58554 (701) 426-0237 andrew@pinnaclehomesnd.com
BILL SCHMID Townsquare Media 1830 N 11th St Bismarck, ND 58501 (701) 250-6602 bill.schmid@townsquaremedia.com
JOSHUA JACOBCHICK JSJ Construction 714 Custer Dr. Manda, ND 58554 (701) 226-0526 jsjconst@hotmail.com
CHIEF EXECUTIVE OFFICER Dawn Watson dawn@bmhba.com Office: 701-222-2400 Cell: 701-390-5049
MEMBERSHIP DIRECTOR Brittney Roehrich brittney@bmhba.com Office: 701-222-2400 Cell: 701-240-3540
LAYOUT DESIGNER Elysha Head
www.instagram.com/bismanbuilders www.twitter.com/bmhba www.bmhba.com
PAGES 7-8 PAGE 11 PAGE 13 PAGE 14 PAGE 14
The BMHBA consists of building specialists from every section of the construction field and associated industries. Your membership strengthens our voice in Bismarck-Mandan construction sector as well as at a state and national level. If you haven’t already submitted payment, please renew your membership by February 28, 2022. TJ Tooz
Josh Schaffner
Joe Vetter
Blair Ihmels
Marty Hoskin
Tiffany Eckroth
Cole Anderson
DeAnna Gratz
Randy Horner
Allan Miller
Kaylee Knudson
Bruce Martin
Kenzie Meide
Tanya Smith
James Baker
Kendall Bauer
Dennis Lawson
Terry Pearson
Helen Strand
Bob Schuh
Monica Kirkeide
Cheryl Froelich
Victor Telega
Chris Schapp
Brad Bonnet
Joel Malingen
Fred Berger
Randy King
Lisa Bohrer Brandon Leingang
Delton Stein
Collin Walth Hunt Boustead
Leanne Holzer
Sunne Modin
Please welcome our new members from January to the association!
Associate Membership (701) 415-0525 benjaminr@servprominot.com http://servprobismarck.com
Associate Membership (701) 415-7003 w01380mbr@costco.com http://costco.com
Affiliate Membership (701) 426-0397 alyssa@rogencore.com http://www.alyssaleingang.com
(July 2021 – December 2021) Bill Schmid Nadine Schaff Art Goldammer
Shane Gaffaney McKenzie Lawler Vicki Moran
Lori Willson Kelli Thompson Jeff Sattler
Paula Haider Vance Vetter Jeran Thomson
Join the BMHBA in congratulating these longstanding members. Their dedication to the Bismarck-Mandan Home Builders Association is appreciated and truly valued. C.S. Doors, Inc.
Anyleaks, Inc. Weisz & Sons Inc.
Bath Fitter Bismarck-Mandan Apartment Association
Thank you to our members who have helped grow our BMHBA membership over the years by recruiting new companies to join our association. If you know of a company that is interested in joining, contact Brittney Roehrich at brittney@bmhba.com or 701-222-2400. Your recruitments can now be seen on NAHB.org. Click “My Profile” then “My Spike Referrals.” Top Recruiters as of 01/12/2021
Statesman Spike 500-999 Credits Kelly Moldenhauer (738.50) Super Spikes 250-499 Credits Todd Brady (377.00) Robb Sattler (291.00) Eddy Mitzel (287.50) Mike Todd (287.50) Lee Mitzel (267.00) Pat Marback (257.00) Royal Spikes 150-249 Credits Lori Willson (213.50) Rory Schlosser (192.00) Mike Hopfauf (191.50) Berna Vetter (189.50) Colby Well (164.50) Jack Knutson (158.50) Red Spikes 100-149 Credits Blair Ihmels (145.50) Steve Redding (123.50) Dan Sparling (120.00) Jerry Sposkwaski (105.00) Chad Moldenhauer (104.50) Dana Schlomer (102.50)
Green Spikes 50-99 Credits Vance Vetter (97.50) David Patience (93.00) Paula Haider (92.00) Mark Larson (91.50) Eric Brenden (86.50) Darren Buffington (83.00) Kenneth Knodel (66.50) Art Goldammer (64.50) Scott Moran (56.00) Scott Duchscherer (54.00) Nadine Schaff (53.50) Life Spikes 25-49 Credits Marc Conrad (47.00) Gerry Rudnick (45.50) Gerald Hopfauf (45.00)
Drew Knutson (41.00) Matt Shauer (40.50) Greg Zenker (36.00) Greg Meidinger (34.50) Jeff Sattler (32.50) Kevin Fischer (25.50) Lyle Forderer (25.50) Blue Spikes 6-24 Credits Jason Frank (21.50) Shane Gaffaney (17.00) Earl Torgerson (16.50) Melinda Llyod (15.00) Todd Schmidt (14.50) Bob Kupper (11.00) Wayne Solberg (10.50) Pete Brendel (8.50) Darryl Hatzenbuhler (7.00) Bill Schmid (7.00) Mike Wolf (7.00) Joe Hillerson (6.50) Spike Candidates .50-5.50 Credits Rory Anderson (5.50) Shannon Reichenberg (5.50) Kurt Steiner (4.50) Kelli Thompson (4.50) Jason Kerner (4.00) Parker Pladson (4.00) Roger Grendahl (3.50) Jarred Roloff (3.50) Sam Gietzen (2.50) Vicki Moran (2.50) Heidi Rue (2.50) Mark Abramson (2.00) Brian Eiseman (2.00) Jamie Schmidt (2.00) Natalie Eckes (1.00) Tiffany Eckroth (1.00) Shane Gaffaney (1.00) Alissa Kleinsasser (1.00) Reid Kubesh (1.00) Terry Leabo (1.00) Jeran Thomson (1.00) Wade Vogel (1.00) Travis Welle (1.00) Bryan Brendel (0.50) Melanie Staiger (0.50)
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Valid through 2/28/22 unless otherwise noted. Due to the high volume of tariffs on certain products and components from overseas, pricing is subject to change. We reserve the right to correct errors, limit quantities and terminate any offer at any time. Due to the pandemic, product availability has been impacted across the US. We are doing our best to secure product, however some delays and price changes could occur. Please refer to website for most up to date pricing. © Acme Tools 2022
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$
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OTHER QUALIFYING KITS
2855-22
2759-22 2960-22 2962P-22 2857-22
M18 FUEL™ Brushless 1/2” Compact Impact Wrench Kit with Friction Ring .................................WAS $369.00 SALE $269.00* M18 FUEL™ Brushless 1/2” Compact Impact Wrench Kit with Pin Detent and ONE-KEY™............ WAS $379.00 SALE $279.00* M18 FUEL™ Brushless 3/8” Mid-Torque Impact Wrench Kit with Friction Ring .................................WAS $419.00 SALE $319.00* M18 FUEL™ Brushless 1/2” Mid-Torque Impact Wrench Kit with Pin Detent .................................WAS $419.00 SALE $319.00* M18 FUEL™ Brushless 1/4” Impact Driver Kit with One Key™...WAS $349.00 SALE $249.00*
B.
D.
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’ Happy February Everyone! It was great seeing everyone at the Annual Banquet! Our Events Committee did an amazing job! It was a great venue, and a good time was had by all. Also, a big thank you to our generous sponsors. The Home Show is fast approaching so make sure you have your booth reserved! This is a fantastic event for Builders and Associates alike to present their product or service to the community. The entire Home Show Committee has been working hard since the last event to make sure this year’s show is another smashing success. The Home Show dates are March 18 & 19, and there is still time to register at www.bismanhomeshow.com JAMIE SCHMIDT 2022 BMHBA PRESIDENT
As we prepare for the Home Show, let’s not forget the Spring Parade of Homes from April 28 through May 1. We can guarantee another successful event through active participation. Mark your calendars and look for more information in the near future.
Joining the BMHBA is a sound business decision. It will further enhance the credibility and visibility of your company within both the residential construction and business community. Membership will allow you to: • Strengthen your professional credibility • Make business contacts • Help shape the building industry • Develop your competitive edge With your membership in the BMHBA, you also become a member of the North Dakota Association of Builders (NDAB) and the National Association of Home Builders (NAHB). Both provide a wide array of resources and information to assist builders and associate members. The local, state and national organizations monitor many issues that affect our members and represent the interests of the industry. “We are stronger together than we are alone”- Walter Payton
Where Every Day Is A Home Show More Fireplaces & More Experience 50 Burning Display Models
(701) 663-7902 On The Strip I 3709 Memorial Hwy I Mandan ND I https://kellerhhp.com
MONTH
YEAR
‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21
JANUARY
0
9
1
0
10
2
FEBRUARY
3
4
5
2
0
MARCH
21 22 14 2
9
APRIL
52 29 40 27 26 23 43
MAY
31 46 29 16 28 23 12
JUNE
31 43 48 24 18 40 53
JULY
40 16 60 22 17 34 41
AUGUST
20 48 16 27 19 29 39
SEPTEMBER
28 44 26 22 23 43 57
OCTOBER
54 14 22 15 36 43 38
NOVEMBER DECEMBER
‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21
‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21
‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21
0
0
0
0
1
0
0
2
0
0
0
0
2
0
0
2
0
0
0
0
0
0
2
1
2
10 17
0
0
0
1
2
1
2
6
5
0
0
1
0
0
0
3
0
2
0
1
1
0
0
0
3
0
32 28
2
2
1
4
9
11 6
4
8
2
8
9
0
3
0
0
0
1
4
9
9
4
2
4
12 12
4
3
6
8
6
14 12 8 16 11
5
7
18 2
4
0
6
3
0
14 5 11 11 14
4
11
5
6
4
9
9
26 13 11 15 11
4
6
17 2
5
5
0
2
2
14 16 7
20 10
5
13
10 2
2
3
8
21 20 13 13
6
3
1
6
3
1
1
1
3
8 11 4
4
6
8
8
3
3
2
7
5
9 13 6 11 12 14
9
0
5
1
5
1
6
1
13 9
4
3
11
1
7
6
1
7
2
3
17 7 13 20 10 16 13
8
2
9
4
5
3
0
8
9
6
8
5
5
6
8
3
10
9
4
16 14 26 11 10 22 12
3
3
4
5
2
4
2
9
9
9
6
5
10 14
4
7
3
10
2
9 29 20 9
9
7
10
17 10 7
5
3
8
10
4
7
3
7
1
5
7
16 11 9 11 14 12 25
3
0
1
0
5
7
7
7
6
2
6
2
2
5
0
0
0
2
0
3
4
1
0
2
1
7
1
0
0
0
1
0
0
0
0
0
0
2
2
1
0
4
0
0
0
0
0
0
2
0
0
2
0
45 27
36
54
53
132 123 114 116 71
90
74
67 40 37
28
20
32
22
83 80 51
61
60
57
87
45
36
54
132 123 114 116 71
90
67 40 37
28
20
32
83 80 51
61
60
57
0
1
1
Data not collected for the ETA in 2015 and 2016.
0
0
5
‘15 ‘16 ‘17 ‘18 ‘19 ‘20 ‘21
21 15
TOTAL
297 286 270 169 201 312 373
YTD TOTAL
297 286 270 169 201 312
0
BISMARCK SINGLE FAMILY DWELLING Apex Builders 5417 Hendrickson Dr Applewood Group 215 W Thayer Ave Diversity Homes 2806 Frisco Way Hallmark Homes 5211 Jasper Dr Shorestone Solutions 5304 Cobalt Dr Stoneshire Builders 4404 Elk Ridge Dr
0
27
Vance Vetter Homes Verity Homes Verity Homes Verity Homes Verity Homes Verity Homes Verity Homes
4
303 E Capitol Ave 3402 French St 3406 French St 3410 French St 3414 French St 3418 French St 3422 French St
Verity Homes 3426 French St Verity Homes 3430 French St MANDAN SINGLE FAMILY DWELLING EMH, Inc. 1702 Heart Ridge Loop SE EMH, Inc. 1706 Heart Ridge Loop SE
The potential for extensive damage during a fire event is greatest when a building is under construction because it is largely unprotected. Fire-suppression systems such as sprinklers and fire walls are typically not in-service until a building is near completion. Regardless of the material used in a building’s construction, prolonged exposure to fire without mitigation can lead to structural weakness and potential collapse. Multiple large-scale fires have occurred at construction sites in recent years, resulting in multi-millions dollar losses - both in direct property damage and losses beyond the structure of origin. Many of these incidents could have been prevented with safeguards and training. The most common causes of construction and renovation fires in the most recent five-year period, and historically, involve electrical distribution and lighting equipment, heating equipment, cooking equipment, a torch, burner, or soldering iron, or an intentional cause. For each of these, safety protocols are available to reduce the risk of fire. These include:
•
Ensuring that temporary electrical service lighting follows the National Electrical Code®, that electrical equipment is maintained and inspected, the use of extension cords is kept to a minimum, and
2021-As Mandan Mayor Tim Helbling said, it was the year of the orange cones for Mandan residents. There were many street improvement projects in the downtown area as well as other “orange cone” related activities. On the horizon are projects that will be developing more land for residential use.
that equipment dos not overload circuits.
•
Prohibiting the use of temporary cooking equipment (such as hot plates or grills)
•
Ensuring that unauthorized temporary heaters are restricted from the worksite, that heaters on the worksite are kept away from combustible and flammable materials, and that heaters are regularly checked for safe operation and don’t pose a hazard (such as being overturned).
•
Requiring a permit for hot work and enforcing a minimum thirty-minute cool -down interval.
•
Reducing the risk of arson by securing construction sites with fencing or other controls.
View the following links for more information. https://www.nfpa.org/Solutions/By-topic/Construction https://www.firemarshals.org/Construction-Site-Fire-Safety
63 single-family and twin-home lots. These and other developments add to the expansion of the City of Mandan.
There are many exciting building projects beginning in 2022 that represent a bright future for Mandan. In 2021, voters approved an $84 million dollar bond request to fund a new high school to be Permit activity for new located in north Mandan, and a residential home construction was new elementary school in the down from the Lakewood area. New schools bring previous year. new growth. City leaders and staff Residential activity in are excited to enter into this next Mandan should go year with these projects beginning. up in the coming In December 2021, the Mandan year with the Park Board approved proceeding addition of 218 with construction of a new indoor residential lots in new subdivisions in both north and tennis complex and an upgraded rodeo/equine facility. We look south Mandan. Keidel’s South Heart Terrace fourth addition forward to what these projects will added 80 single family lots, and do for the growth of Mandan in West Hills Estates fifth addition has 2022 and beyond.
Midco has changed their delivery method for new construction within the Bismarck, Mandan, and Lincoln area. Moving forward, Midco will bring fiber optic cable all the way into the mechanical room of the home. Midco is suggesting homes be prewired with a 10/6mm micro duct from the utility mark outside of the house to the utility room inside of the home. From that point, Midco will use CAT 5 to the set top box. Midco would encourage CAT 5 and coax continue to be used in the situation a traditional delivery method is needed or so other utility providers are covered for future use.
There were 10 housing developments started in 2020 that will be converted over from coax to fiber to home. These 10 housing developments are: Cottonwood Park, Clear Sky, Boulder ridge 7th, Ash Coulee Estates, Huntington Cottages 2nd, Edgewood Village 7th, Heritage Reserve, Mandan Hills, and Harmon Lake 22nd. If you have any questions, feel free to reach out to Regional Construction Manager, Derek Weigel at 701.319.0237 or derek.weigel@midco.com.
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The North Dakota Association of Builders Board of Directors recently met and discussed the proposed petition to create a ballot measure to amend North Dakota’s constitution to require initiated constitutional measure to receive approval from at least 60 percent of voters and limit those measures to once subject. The Board of Directors voted unanimously to support the effort. NDAB strongly believes in our citizen's rights to bring legislative proposals to the people through initiated measures. However, in recent years that right has been undermined by out-of-state groups using our state's process as an experiment.
KAYLA PULVERMACHER NDAB CEO
MIKE JANGULA 2022 NDAB PRESIDENT
Because North Dakota's current constitutional measure rules only require a simple majority to pass, the bar to change our state's constitution is much more attainable than it is in other states. Combine that with an affordable media market and outside groups with pockets full of cash, and you've got an issue on your hands. The petition for this ballot measure is currently being circulated. In the coming days, you may be approached to add your signature to the petition. We hope you'll strongly consider doing so. And once the measure is approved for the ballot, NDAB hopes you'll join us in voting yes. Our state's constitution depends on it.
Take Care, Kayla Pulvermacher, NDAB CEO Mike Jangula, 2022 NDAB President
On Tuesday, January 18 the BMHBA gathered at Lady J’s Club in Bismarck for our 63rd Annual Banquet. The new BMHBA builder directors, Joshua Jacobchick (JSJ Construction) and Andrew Meldahl (Pinnacle Homes and Design), were sworn in along with the 2022 BMHBA President, Jamie Schmidt (Investcore, Inc.). We are excited to have Joshua and Andrew join our board! We also said goodbye to two board members, Brian Eiseman (Stoneshire Builders) and Jeff Sattler (Sattler Homes, Inc.). We thank you for the support!
A check was presented to three Bismarck State College Carpentry students that were each awarded a scholarship on BMHBA’s behalf. We had a raffle where members could purchase tickets for the chance to win a LG 65" Class 4K UHD Smart LED HDR TV or a NDSU Bison Rock. Proceeds from the raffle will go to the Bismarck State College Carpentry Scholarship Fund. The BMHBA would like to extend our gratitude to our generous sponsors and members! We couldn’t host these events without you.
Builder Member Spotlight
I was born and raised in the Bismarck/Mandan area, graduated from Century High School and then from Minot State University. Prior to entering the home building business, I was a banker and for a period of time sold boats for a local boat dealership. Aspire Homes was started in the spring of 2017, but overall, I have been in home building for 11 years. I am married and have one son who turned 13 in January. We also have a cockapoo whose name is Jax.
Where the name came from. I wasn’t sure what to call the new business, so I started going through the alphabet. I came across the word “Aspire”, and it hit home. At that time in my life in particular, I was wanting to better myself and was setting out to improve. The name seemed to fit, and the search was cut pretty short! If you are debating entering the industry, don’t debate any longer. The construction industry in our area is strong and while we may encounter ups and downs, it continues to be a healthy part of our local economy. We are in dire need of workers in all trades. The amount of opportunity is abundant. I feel like others have given the same answer, but I don’t think there is a typical day in this industry. I might start the day with great intentions of having a schedule and plan put together. Usually within the first hour that is blown apart! On a day-today basis I make sure to visit all our jobsites, try to get some office work done, and communicate with our homeowners. Most days are filled with communication, planning, problem solving, and adjusting schedules. And of course, attend HBA meetings, city meetings, etc. No two days are alike and that is one of the many great things about our line of work. Something to do with boats. Maybe a captain down south somewhere. Maybe a broker somewhere warm. I would likely live somewhere warmer surrounded by water and doing something with boats. What exactly, I’m not sure.
I hope to continue our reputation of building a quality home. Maintain our current level of business, customer satisfaction, and continue building strong relationships with our building partners. This is a competitive business with many good, local builders. We want to continue to be grouped in that category. Many years ago, I general contracted a basement finish of a home we were living in. I also did some of the work myself and really enjoyed it. I met a lot of great people during that time, and it was fun to bring something from concrete and lumber to a finished project. I enjoy the process and watching progress. There is not one major thing. Rather I think there are a lot of little things. Such as constant communication with homeowners and subcontractors, attention to every detail no matter how large or small, constant jobsite cleanliness, being transparent throughout the entire build. We will always tell it like it is. It might not be something the other person wants to hear, but there will never be wonder of what’s happening. As mentioned, watching the progression from dirt to a beautiful, finished home and seeing the excitement when a family takes possession and moves in. Boating. Anything with boating and water. Spending time with family and friends on the water, water skiing, pulling our son knee-boarding, watching our son play football and basketball, and did I mention boating? Spring comes next and summer follows. Aspire Homes @aspire_homes
Aspire Homes, Inc. www.daretoaspirend.com
The “international” in First International Bank & Trust was originally added because the bank wanted to let customers know it was able to seed potato transactions between American and Canadian farmers. Banking is a much broader industry than it appears at first glance. It’s easy to think of banking as just lender or banker positions but here at FIBT we have careers spanning web development, marketing, and project management. Our Bismarck and Mandan Mortgage teams interact with customers on a daily basis, keeping them well informed and helping them make their dreams a reality. Our lenders do a fantastic job of walking customers through the lending process and are constantly available to help answer any questions. All in all, our team works diligently to ensure a seamless home loan experience.
Just recently, FIBT opened its first Mandan location. We look forward to experiencing growth across the entire Bismarck-Mandan area and helping more and more customers Live First. We hope to solidify ourselves as a solid business partner for the community that has a positive impact on the surrounding areas. We truly love seeing people excited to live in their new home. It’s a pleasure to help individuals and families start their new journey and take the next step in their lives. With each home purchase or refinance, we have the opportunity to meet new people and connect with previous clients and serve as a trusted advisor in one of the biggest financial decisions they will ever make. Whether you’re buying, building, or refinancing, we know how to put your dream home in reach. Our mortgage loan products, excellent mortgage rates, and most importantly, our expert service, can get you there. Our team of mortgage loan officers can walk you through all the considerations you should make when trying to achieve your goal of buying, building or refinancing a home. Closing day! Our lenders love attending the closing, answering any questions that come up, and celebrating a monumental part of the client’s life. It’s a true honor to assist with such a huge life step and we appreciate them trusting us to be part of their journey.
We love enjoying the holiday season and spending time with those near and dear to us. Winter is a great time to look back over the past year and reflect on what’s been accomplished. www.fibt.com https://twitter.com/firstintlbank https://www.facebook.com/FirstIntlBank https://www.linkedin.com/ company/first-international-bank-and-trust https://www.instagram.com/firstintlbank
Associate Member Spotlight
Family-owned for four generations, First International Bank & Trust (FIBT) traces its history to Farmer’s State Bank in Arnegard, North Dakota, which opened for business on May 1, 1910. Brothers Odin and Gerhard Stenehjem were the only employees. Today, Stenehjem bankers continue to lead FIBT, operating offices in North Dakota, Minnesota, Arizona, and South Dakota, employing over 730 people in the communities it serves. Today, FIBT remains focused on making dreams happen for our clients and customers. Our motto of “Live First” is more than wishful thinking. At FIBT, we keep life first on the list of priorities with our approach to banking, investments, and insurance. Every day, we think about how we can make our bank better, our relationships more meaningful, and our communities stronger.
Visit the Front street millwork booth @ The 2022 Home Show
EST. 1958
3 - 9pm 9am - 5pm
@ the Bismarck Event Center
Fri, March 18th Sat, March 19th
Front Street Millwork & Lumber
3 3 2 0 E ast Ce nt u r y Avenue B i sm arc k , N D 701-255-1636
w w w. faceb ook . com/front st ree t mi l l wo r k
Together with Miller Insulation and Arrow Service Team, we are coloring Valentine’s Day cards for Bismarck/Mandan residents in nursing homes and assisted living facilities.
Thank you for your participation! Happy Valentine’s Day!
w w w. faceb ook . com/front st ree t mi l l wo r k
Front Street
3 3 2 0 E ast Ce nt u r y Avenue B i sm arc k , N D 701-255-1636
Millwork & Lumber
PWB had their first community event of the year on January 12. PWB packed 1,336 bags for the United Way backpack program. With the help of BMHBA board members, they delivered to 33 schools in the Bismarck-Mandan area!
Knife River is a full service aggregate-based construction company, providing ready-mix concrete aggregate sales and delivery and concrete construction services. We provide services throughout North Dakota for public, private and commercial construction projects.
701-580-4527
Bismarck-Mandan | Washburn | Beulah
Mark Roningen - Business Development
JANUARY 18
MAY 10
MARCH 18-19
FEBRUARY 5-10
JULY 12
AUGUST 4
APRIL 28 - MAY 1
SEPT. 29 - OCT. 2
TBD
SEE YOUR AD HERE
Call the BMHBA office for more info 701-222-2400.
The latest Mortgage Bankers Association’s (MBA) weekly application surveys shows a decline for refinancing and an increase in mortgage purchasing. The 30-year fixed-rate mortgage rate increased, averaging close to 3.4 percent for the month and was 3.52 percent in the latest week, the week ending January 7th. In the latest week, total mortgage applications, as proxied by the MBA’s Market Composite Index, increased by 1.4 percent from the prior week, an anemic gain amid the overall decline of mortgage activity of the last month. The seasonally adjusted Purchase Index increased 2 percent from one week earlier.
On an unadjusted basis, the Purchasing Index in the latest week was 17 percent lower than what it was one year ago (year -over-year percent change for the same week) and its refinancing counterpart was 50 percent lower.
The refinance share of mortgage activity decreased to 64.1 percent of total applications from 65.4 percent the previous week. The adjustable-rate mortgage (ARM) share of activity The latest mortgage rate marked the highest level since decreased to 3.1 March 2020, i.e., when the pandemic in the U.S. first started. percent of total Mortgage rates were pushed up by increases in the U.S. 10-year applications. -Treasury rate, which, in turn, reacted to the Federal Reserve’s signaling of tighter policy ahead. The refinance share of mortgage activity decreased to 65.2 percent of total applications from 63.3 percent the previous Meanwhile, refinancing continued moving downward from a week, an anemic gain given the data of the prior month. The month prior, though the latest week’s weakening in activity, a adjustable-rate mortgage (ARM) share of activity remained decline of 0.1 percent, was not as strong a reaction to the unchanged at 3.4 percent of total applications. increase in rates as might be expected.
The Seattle Times has published an editorial by NAHB Chairman Chuck Fowke that lays out a strong case against tariffs on Canadian lumber shipments into the United States that are fueling lumber price volatility and harming housing affordability. Under the headline, “Tariffs on Canadian Lumber are Driving Up Home Prices,” Fowke lays out a strong case on how
the Commerce Department’s recent move to double tariffs on Canadian lumber from 9% to 17.9% has effectively delivered a body blow to American home buyers, renters and businesses that rely on lumber products. He further cites the reasons for the latest lumber price surge and provides specific actions that policymakers need to take to reduce price volatility and increase supply.
Average hourly earnings for residential building workers have been growing fast recently, driven by the tightening construction labor market. Last Friday, the Bureau of Labor Statistics (BLS) reported that the unemployment rate declined to 3.9% in December, the lowest rate since the pandemic. As the labor market remains tight, wages have increased rapidly, particularly in residential building sector. According to last Friday’s BLS report, average hourly earnings for residential building workers were $28.74 in November 2021, increasing 7% from $26.87 a year ago. During the COVID -19 pandemic recession in March and April 2020, average hourly earnings for residential building workers rose about 2%, compared to a year ago. Since June 2020, average hourly earnings’ year-over-year growth rates for residential building workers have trended up and reached 8% in October 2021, the highest year-over-year gain since February 2019.
For the first time since the early 1980s, the U.S. economy is experiencing a period of elevated inflation. Because of supply-chain issues attributable to the pandemic and a significant rise in government spending, the consumer price index (CPI) measure of consumer inflation recorded a 7% year-overyear gain in December 2021 — the highest in nearly 40 years. In contrast, during the 2010s, the CPI averaged an annual growth rate of just 1.8%. The Federal Reserve, having retired the call that these inflationary pressures would be “transitory,” is now clearly signaling tighter monetary policy ahead. The NAHB forecast sees the Fed raising the federal funds rate three times in 2022 and accelerating the pace of the taper of assetbacked security purchases. These moves will continue to cause interest rates to rise over the course of 2022.
Clearly, these increases highlight the importance of taming building material costs, including lumber prices that are rising yet again and have expanded beyond $1,100 per thousand board feet. New NAHB analysis finds that a key cause behind this price growth is insufficient production. For example, during the third quarter of 2021, domestic sawmill output was 1.3% lower than the third quarter of 2020. Additional signs of inflation include a tighter labor market and growing wages. According to BLS estimates, job growth in December disappointed: The economy added only 199,000 jobs. Although the unemployment rate fell back to 3.9%, there is some evidence that labor market data are not fully accounting for the growing gig economy.
Nonetheless, reports of ongoing labor shortages throughout the economy present challenges for businesses. For the The 10-year Treasury construction sector, there rate already rose from 1.4% are 345,000 open positions at the start of December to needing to be filled, higher than 1.7% during the compared to 261,000 a year second week of January, ago. Wages in the and the average 30-year residential construction fixed-rate mortgage is sector are up 8% year over expected to increase to 4% year, and without near the end of the year. productivity gains, this level Combined with ongoing of wage growth represents home price appreciation, an additional inflation risk in the housing sector. higher rates will place additional pressure on housing affordability.
2600 Gateway Ave, Ste 1 Bismarck, ND 58503