National, State & Local Building Industry News 2017: Issue 12
www.elpasobuilders.com
Association installs 2018 leadership Recognizes ‘Member of the Year,’ announces other top honor recipients by Ray Adauto
The El Paso Association of Builders (EPAB), established in 1946, held its 71st annual installation and awards banquet on December 8. The event is held to honor the top volunteers for the past year and to install the new board of directors and executive leadership. The awards given were for the commitment to the association and to acknowledge those who have given time and resources to the EPAB. The 2017 Member of the Year award went to Don Rassette, Rassette Homes, for his work as President for 2017 and the commitment of years of work he has done. The Associate Member of the Year, an award for the outstanding member from a non-builder member went to Charles “Chuck” Haskins, Haskins Electric. The Chaney-Shallenberger Life Time Award went to Kathy Parry of HUNT Communities. Ms. Parry has been an active member for over 30 years. In addition to awards for volunteering the EPAB also inducted Jim Sorenson into the EPAB Pioneer Hall of Honor joining the original inductees Bob Bowling III, George Thomas and Jack Winton. Mr. Sorenson devoted many years to the building industry and founded Classic American Homes. Mr. Sorenson passed away in 2016. His wife Tina and daughter Kelly were given the plaque commemorating the induction. The 2018 Board of Directors and Officers were installed by Past President Brad Roe. Edmundo Dena, Everest Homes, will begin his second presidency on January 1. EPAB Vice President is Sergio Cuartas, BIC Homes; Secretary Treasurer Edgar Garcia with Bella Vista Custom Homes and Sam Shallenberger, from Morrison Supply is Associates Vice President. Executive Vice President Ray Adauto was affirmed at the installation. Adauto The 230 attendees were also asked to bring an unwrapped gift for children and they responded with
enough toys to help the Junior Women’s Club of El Paso as well as the Texas A&M University Colonias Operation Boot Box kids program. Photos: Top left: Member of the Year Don Rassette and EVP Ray Adauto. Top Center: Top Center: Kathy Parry the ChaneyShallenberger Life Time Award, Top Right: EPAB 2018 President Edmundo Dena and wife Claudia, Center Left: Sponsor Sierra Title’s Angelique Roman and Tyler Gonnell, Center Right: Executive Officers take their oath of office, Bottom Left: Chuck Haskins 2017 Associate of the Year, Bottom Right: Kelly Sorenson accepts award on behalf of father, Jim Sorenson.
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Builders Outlook
HAPPY HOLIDAYS FROM YOUR FRIENDS AT TEXAS GAS SERVICE. The holidays are a time to give thanks and celebrate with the ones you love. At Texas Gas Service, we’d like to express our gratitude to you for building with natural gas and for giving your buyers the gift of savings. We wish you and your customers a safe and warm holiday season. For more information about building with natural gas: ElPasoNewBusiness@TXGas.com William Nieves: 915-496-6126 Jorge Sejera: 915-680-7216 Please continue to direct service line and meter set requests to the Texas Gas Service Builder Hotline at slimgas-metroElPaso@onegas.com or 1-866-206-9587.
2017 Issue 12
2017 Issue 12
President’s Message
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Builders Outlook Don Rassette
President, El Paso Association of Builders
2017 whizzes by as Association accomplishes many goals
Like many association leaders before me have said, the year of their presidency goes by fast. Thanking everyone who volunteered their time, efforts and money to make this a great year. A special warm and heart felt THANK-YOU TO EPAB StaffMargaret and Ray Adauto, for all their help, support and guidance. Looking back to last January's itinerary, our agenda was full and many times bigger than what we thought we could handle in a short period of time. However, by taking a bite out of the elephant, we managed to take care of the large order of EPAB business and not to be overwhelmed. Here is a reminder of the tasks we had in front of us for 2017: 2016-year end business, 2Ol7 task preparation, such as; 2017 budget and master plan for the year. We also had in our vision: Bylaw changes to open more
opportunities for associate members and to possibly add affiliate memberships; membership drive to increase number of members and to retain them in our association; a new member kit and an ambassador program for new member orientation; RALLY DAY, in Austin, in February; Home show(s); Parade of El Paseo of Homes; Strengthen BUILD-PAC war chest; Strengthen HOME PAC war chest; Interview City position candidates in the upcoming elections; Lunch and Learn Series; Retirement plan through EPAB; Golf outings; "washa" tournaments; Speed selling, including associates to associates; "Best of El Paso Awards"; health insurance program with Humana based on 3 other home building association plans. What I have listed is many action items that EPAB did this year or is set up to accomplish in 2018. As much as these are the action
items or headings, many countless hours of behind the scenes activities and meetings were held to accomplish these tasks. As you can see, our action list was mind boggling in some regards. But, never say never came to be seen as "Maybe we can". For those who got involved, the satisfaction of accomplishments was many, and my hat will always be off to you in respect. For some who were not involved, my question to you is "What is the maximum effectiveness of an excuse". It is a reality of life that people are competitive and the more competitive the industry, the more competitive the people drawn to that industry. Our building industry is one of those industries. We have as many obstacles in front of us as builders, especially many that are out of our control, as there are in any industry. Look at how many builders and related businesses
have left the industry since 2008. I believe in God, human decency and to win fairly, squarely by the rules. I also recognize and believe that any company’s or person's finest hour is when all their hard work pays off and they have achieved their goals. VICTORY! Last year l gave the example of all the best and brightest of our nations economists, over a 20-year period. Less than 50% were correct. lt was not if you could predict the future but that I encouraged you TO: BE PREPARED FOR THE FUTURE AND TO BE PREPARED TO SUCCEED! In closing my final article as 2017 President, THANKS BE TO GOD who gets all the glory and Cheryl, my wife and best half for 40 years. They are what makes me who I am today. MERRY CHRISTMAS TO ALL!
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Executive’s Message Ray Adauto, executive Vice President ePAB
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Builders Outlook
Looking forward to 2018
This month is it, the end of the year and as Yoda would say “faster the end, when older you are”. The time has flown by as we now find ourselves preparing for the first and second quarter of 2018. one of the big events we are having is a membership drive to be done with the rest of the Texas Association of Builder associations. our training will take place in March as three or four associations convene in lubbock for training with the oliver group. We just set our dates for the Parade at Artcraft estates, April 7 to April 15 with the industry preview party on Friday April 6. We have nine builders participating in the Southwest land Development Services subdivision. The location is easy to get to since its on the
corner of Artcraft Road and Westside Drive. So get ready to party early in April. our big news in the golf wars is that we have moved our spring golf to the wonderful and beautiful Butterfield golf Course, a top destination golf course by the airport. We have played the course numerous times since it was opened and really enjoy the long fairways and challenging brush. get ready to sign up. While we’re not totally buttoned up we are planning our first annual iDeA Awards for the ePAB. iDeA stands for innovation, Design, excellence and Achievement. it’s our best of the best awards so putting this together is time consuming and challenging. expect some information soon.
2017 Issue 12
Speaking of sign ups, we are looking for our partnerships for all the events we have coming up. There will be a lot of different ways to participate with us. our past partners know that this is a great way to put their best foot forward as well as a great way to support the association finances. in between all the above we’re headed to the international Builders Show in orlando early January. Then our first board meeting, our February general meeting and so much more. We’re off to a great start with our Association Health Program as we have our first participants getting ready for the new year to start. We hope all of you have had a good holiday and are prepared to welcome 2018.
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National Builder News
2017 Issue 12
Builders Confident as Market Primed
n Builder confidence in the market for
newly-built single-family homes increased five points to a level of 74 in December on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) after a downwardly revised November reading. This was the highest report since July 1999, over 18 years ago. “Housing market conditions are improving partially because of new policies aimed at providing regulatory relief to the business community,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. “The HMI measure of home buyer traffic rose eight points, showing that demand for housing is on the rise,” said NAHB Chief Economist Robert Dietz. “With low unemployment rates, favorable demographics and a tight supply of existing home inventory, we can expect continued upward movement of the singlefamily construction sector next year.” Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor. All three HMI components registered gains in December. The component measuring buyer traffic jumped eight points to 58, the index gauging current sales conditions rose four points to 81 and the index charting sales expectations in the next six months increased three points to 79. Looking at the three-month moving averages for regional HMI scores, the Midwest climbed six points to 69, the South rose three points to 72, the West increased two points to 79 and Northeast inched up a single point to 54.
Granger MacDonald on NLRB Overturning Browning-Ferris Decision
n Granger MacDonald, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Kerrville, Texas, issued the following statement regarding the National Labor Relations Board’s (NLRB) reversal of an Obama-era decision that had vastly redefined joint employer status: “NAHB applauds the NLRB decision to overturn its ruling in the case of BrowningFerris Industries that radically expanded the traditional test for joint employer status. The Browning-Ferris decision in 2015 made the standard for joint employment so broad and vague that an employer could be held liable for the labor and employment practices of independent contractors and subcontractors over which they have no direct control. “By rescinding the Browning-Ferris standard, the NLRB has restored the traditional definition of joint employment in which a company must exercise ‘direct and immediate control’ over a worker in a business-to-business relationship. Home building firms and other small businesses who work closely with subcontractors and third-party vendors will now have more certainty and clarity regarding their employment decisions. The NLRB action restores the sensible criteria that has worked so well for the economy for more than 30 years.” increased three points to 79.
Builders Outlook
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Builders Outlook
Issue 12
In Texas anyone with a truck and a hammer can call themselves a builder. Protect your biggest investment by choosing a Real Texas Builder, a member of the El Paso Association of Builders. A Real Texas Builder is a professional who invests in our community and works hard to build you the best home money can buy . Real Texas Builders are genuine, legitimate, educated and committed to the advancement of the home building industry.
Visit www.elpasobuilders.com for a list of our ‘Real Texas Builder’ members
© 2017 El Paso Association of Builders • 6046 Surety Drive • El Paso • Texas • 915-778-5387
2017 Issue 12
Economic Forescast
Elliot Eisenberg Economic & Policy Blog Here are some recent highlights from Elliot’s Blog: • Of the 195 nations on Earth, 33% get their name from some older group of persons. For example, France is named after the Franks. 25% are named from an aspect of the land; Costa Rica means "the rich coast." 13% are named for their location; Australia means southern in Latin. And, another 13% are named after men such as the USA; named after Italian explorer Amerigo Vespucci. • OPEC, Russia, and other countries controlling 60% of global crude production have extended their withholding of 1.8 million bbl/day of oil, 2% of output, from 3/31/18 to 12/31/18. The forces at play here are threefold; rising global GDP boosting demand by 500,000 bbl/day, declining production in Venezuela and Kurdistan due to political and economic factors, and rising US shale production. If shale output rises substantially, the deal dies prematurely. • As of 2015, there were 13 states that sent more money to Washington than they received in federal spending. The sums include federal salaries, military contracts, Social Security payments, Medicaid, corporate and personal taxes and so on.
Expert Advice
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Builders Outlook
End-of-year tid bits The biggest loser, NJ at -$3,478/person, followed by CT at -$2,763, and NY at $2,425. The biggest winner, DC at $40,082, followed by NM at $8,072, WV at $6,765 and MS at $6,495. • Employment growth was 228,000 in November and is averaging 170,000 jobs since August. The key takeaways: the job market is very strong, and growth is well distributed with solid gains across all education levels! The hurricanes have left no traces, and while wage growth is hardly Bitcoinesque at just 2.5% Y-o-Y, an increase in the average work week has boosted total wages by a respectable rate of 4.75% since August. • The number of times the Fed boosts rates a quarter-point in 2018 will depend entirely on GDP growth and inflation. If both perk up, expect four hikes, if they both remain weak, expect two. The low and falling unemployment rate suggests that inflationary pressures should build. However, researchers find that declines in the unemployment rate today have only 30% as much influence on inflation rates as they did decades ago. I hope that you enjoy my column and that all of you enjoy this time of year. No matter what the situation is we all live and breath the economy and I hope my tidbits and information is worthwhile. Until January my friends. Thanks, El Paso Association of Builders for your support.
Elliot Eisenberg, Ph.D. is President of GraphsandLaughs, LLC and can be reached at Elliot@graphsandlaughs.net. His daily 70-word economics and policy blog can be seen at www.econ70.com. You can subscribe and have the blog delivered directly to your email by visiting the website or by texting the word “BOWTIE” to 22828.
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CELEBRATING EPAB THE BEST OF EPAB EL PASO ASSOCIATION OF BUILDERS
INNOVATION u DESIGN u EXCELLENCE u ACHIEVEMENT
ENTRY INFORMATION COMING SOON
Understanding the new tax plan The first Federal tax plan in decades has been approved in the Senate and the House and awaits the Presidents signature at the time we gathered this information. We will have more information in our Issue 1 of 2018. For now, this is what is being published about business taxes: The final tax bill lowers the maximum corporate tax rate from 35 percent to 21 percent, the lowest since 1939. The United States has one of the highest corporate tax rates in the world. But most corporations don't pay more than 15 percent. They can afford tax attorneys who help them avoid paying more. It raises the standard deduction to 20 percent for pass-through businesses. The deductions are limited once the income reaches $157,500 for singles and $315,000 for joint. Pass-through businesses include sole proprietorships, partnerships, limited liability companies, and S corporations. They also include real estate companies, hedge funds, and private equity funds. The bill limits corporations' ability to deduct interest expense to 30 percent of income. For the first four years, income is EBITDA, but reverts to earnings before interest and taxes thereafter. That makes it more expensive for financial firms to borrow. Companies would be less likely to issue bonds and buy back their stock. Stock prices could fall. But the limit generates revenue to pay for other tax breaks. It allows businesses to deduct the cost of depreciable assets in one year instead of amortizing them over several years. It does not apply to structures. To qualify, the equipment must be purchased after September 27, 2017, and before January 1, 2023.
The bill eliminates the corporate AMT. The corporate AMT had a 20 percent tax rate that kicked in if tax credits pushed a firm's effective tax rate below that level. For example, companies could no longer deduct research and development spending or investments in low-income neighborhood. Elimination of the corporate AMT adds $40 billion to the deficit. It advocates a change from the current "worldwide" tax system to a "territorial" system. Under the worldwide system, multinationals are taxed on foreign income earned. They don't pay the tax until they bring the profits home. As a result, many corporations leave it parked overseas. Under the territorial system, they aren't taxed on that foreign profit. They would be more likely to reinvest it in the United States. This will benefit pharmaceuticals and high-tech companies the most. The tax bill allows companies to repatriate the $2.6 trillion in foreign cash stockpiles. They pay a one-time low tax rate of 15.5 percent on cash and 8 percent on equipment. The Congressional Research Service found that a similar 2004 tax holiday provided little boost to the economy. Companies distributed repatriated cash to shareholders, not employees. The repatriation could also raise Treasury note yields. Corporations hold most of the cash in 10-year Treasury notes. When they sell them, the excess supply would send yields higher. Source: thebalance.com (December 20, 2018) by Kimberly Amadeo
AWARDS CEREMONY SPRING 2018
EPAB ON THE SCENE
Members make kids’ holidays a little brighter
The tradition of asking our installation attendees to bring an unwrapped toy for a girl or boy once again showed the generosity of our guests. Although not everyone participates those who did brought a really cool assortment of games, toys, and sports equipment. The toys are used by the Junior Women’s Club of El Paso as the primary beneficiary of the drive and this year we had enough toys to also help the Texas A&M University Colonia Kids Project. The Junior Women’s Club (JWC) is a small dedicated group of professional women who are best known for their fundraising event at Halloween, the Spook-tacular held as a safe alternative to trick or treating each year. From the tremendous work at
First of a kind ring presented to outgoing president for service In the world of associations or clubs there are various ways a member is “identified”. Most of the time it’s by a logo on a bumper sticker, cap or shirt. Sometimes it’s a portfolio or briefcase or on pens or on pins. Two years ago, the El Paso Association of Builders designed a lapel pin for members to wear, a way to identify as a member. Every year the association tries to say thanks to the outgoing President with a special gift. As everyone knows
that event these twenty or so volunteers are able to help needy families at Christmas time by providing clothing, toys, essentials and food to those less fortunate in our community. Terresa Chavira, President of the JWC of El Paso was overwhelmed with the generosity of our guests. “I want to let you know that all of the toys we get from the association are put to great use, making some children happy to have a toy for Christmas,” Chavira told the Outlook. Two of the ladies involved with the JWC are Angelique Roman and Margaret Adauto. “When we get these toys we add them to the baskets we prepare for the family,” Angelique said.
“We go and buy clothing for the kids, provide the family with a food basket and then add the wonderful toys,” she continued. As for Margaret her thanks to the members is a little overwhelming. “I get to work for these wonderful people and I’m not surprised at their generosity, but I wish they could see the little faces as they realize there’s toys for them,” Margaret said. “Sometimes I feel a little emotional as the kids give us the hugs because of our great members,” she said. The other organization that benefitted this year from the toy drive was the Texas A&M University Colonia Kids project. Pema Garcia is the
liaison with the EPAB for this and she too was thankful for the toys. “We have 100 kids we are trying to give a toy to this year, and every year sometimes we can’t meet all the needs,” Pema told us. “This year your members and guests simply are our angels,” she said with a little tear in the eyes. Our thanks to all who contributed and especially those who gave multiple toys. “I was afraid that we wouldn’t have enough this year but just like magic the toys appeared to make Christmas cheer,” said Ray Adauto. “Blessings to all of you, and Merry Christmas” he said.
sometimes its hard to find that something special for that special person. The association presents the outgoing President with a plaque to hang at the office. This year we created a special tribute by designing the first ever Past President’s Ring with the world-renowned award jewelry firm Dunham Manufacturing, designers of championship and commemorative jewelry. The Dunham group designed the ring and incorporated one of a kind features into it. “When I came up with the idea of a ring for Don I was inspired by my own El Paso Athletic Hall of Fame ring that Dunham manufactures,” Ray Adauto said. “Because it takes time to come up with the design and them manufacture I started working on the project in August. “ What the artist came up with was spectacular. The ring design has exclusive elements that show the logos of the El Paso Association of Builders, the Texas Association of Builders, and the National Association of Builders. The logos are on the sides of the ring. Above the EPAB logo is the last name of the recipient while the Presidential year is over the TAB and NAHB logos. The crown or top of the ring has an exclusive design with the words EPAB floating above the word President all in
capital letters. The crown is exclusive for Past Presidents. A member ring is also coming in 2018 that will have a crown designed with a special mounting for a jewel. The artists at Dunham created the primary mold made to accommodate the different exclusive crowns. When asked about his ring Don Rassette said that not only is it beautiful but also something that he will treasure. “I like it a lot and it fits, surprisingly, because I didn’t know I was going to get this and so Ray was sneaky about getting my ring size,”
Don told the Outlook. Ray admitted that he had to find a way to get the size and Don’s wife Cheryl helped. “She was wonderful as a coconspirator,” Ray said. The Past Presidents ring is available only to verified past presidents and can be had by calling the association office. The membership ring availability will be announced in the coming months.
2017 Issue 12 Concerned about health coverage? Premiums increasing again this year? NOW YOU HAVE A CHOICE.
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• Lenders embracing automation Mortgage lenders continue to pour money into automating the loan-application process. The best-known example is Rocket Mortgage by Quicken Loans. But Quicken isn’t the only lender that embraces automation. Some lenders, such as loanDepot, cook up their own automation in-house, while software providers such as Blend and Roostify help large and small banks to automate applications. Now a few lenders want to use automation to guide borrowers to loan products that best suit them.
- NerdWallet.com
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• Mortgage rates head up Mortgage rates are expected to rise in 2018. CoreLogic, a data provider for the real estate industry, averaged six forecasts of mortgage rates, arriving at a consensus view that the 30-year fixed will average 4.7% in December 2018. In November 2017, the 30year, fixed-rate mortgage averaged 4.07%. “Not only are mortgage rates higher, but mortgage rates will be at the highest level since 2011,” Nothaft said at the Urban
• More options for people with credit issues A few specialty lenders are focusing on nontraditional mortgages. For example, Angel
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• Home sales could rise Resales of existing homes are expected to rise modestly in 2018. The median estimate is that existing home sales will rise 2.5%, to 5.6 million units. Meanwhile, sales of new homes are expected to rise a median of 7%, to 653,500 newly built single-family houses. According to Realtor.com, cities in the South will show the most sales growth in 2018. Hale says she expects 6% existing home sales growth, particularly in markets such as Dallas; Tulsa, Oklahoma; Little Rock, Arkansas; and Charlotte, North Carolina. She says those places are not as “regulation constrained,” they have strong regional economies and developers have plenty of vacant land to build on.
• Security headaches continue Thieves are stealing down payments from home buyers by combining email hacking with wire fraud. And there’s no sign of it slowing. Complaints of this type of wire fraud skyrocketed by 480% in 2016, according to the 2016 annual report (the latest available) from the FBI’s Internet Crime Complaint Center. Lenders and title companies say the problem worsened in 2017, and that they fend off this form of fraud constantly. The best way to avoid becoming a victim: When you receive emailed instructions for wiring money, call your agent to verify. The email may be a fake, designed to trick you into wiring money into a thief’s account.
Oak Mortgage Solutions in Atlanta targets the borrower “who has had a life event, so they lost their house or had to file bankruptcy or things got really bad, but they’ve now got their feet back on the ground and they’re ready to buy their next house,” says Tom Hutchens, the lender’s senior vice president of sales and marketing. Several lenders offer interest-only mortgages, and even loans with limited income documentation. These mortgages are dubbed “non-QM” because they don’t meet Fannie Mae’s and Freddie Mac’s plain-vanilla “qualified mortgage” rules. One prominent non-QM lender, Impac Mortgage Holdings, plans to begin securitizing these loans early in 2018.
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• More homes for sale Home buyers are struggling to find houses for sale. The shortages are especially acute for the kinds of homes that first-time buyers tend to get. Among the reasons for the tight supply: Many baby boomers are content to age in their homes instead of downsizing Investors bought millions of homes after the housing bubble burst, and they’re making too much money as landlords to sell Home builders make more profit from expensive houses than entry-level houses, so that’s what they’re constructing But there’s some hope for 2018: Realtor.com predicts that the housing supply pinch will begin to ease late in the year. “It looks like we could get to a point where we’re seeing growth in inventory sometime in the fall of 2018,” says Danielle Hale, chief economist for Realtor.com.
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• Home prices decelerate Good news for first-time home buyers: Home-price appreciation is expected to cool down in 2018 after a torrid couple of years. Home prices rose 6.3% in 2016, according to the Federal Housing Finance Agency. They’re on track to exceed 6% in 2017, too. But for next year, the median forecast among six industry and lender groups is for a 4.1% increase in existing home prices nationwide. Why the slowdown? One factor is home construction. Economists expect the construction of single-family houses to rise sharply in 2018, based on building permit applications. The median estimate has singlefamily housing starts rising about 8% in 2018, to roughly 912,500 new houses.
• More equity, more HELOCs As home values rise, homeowners gain equity. And banks expect millions of
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Here are 10 housing and mortgage trends to expect in 2018.
• Affordability declines If, as expected, home prices and mortgage rates go up in 2018, homes will be less affordable. For example, if mortgage rates rise to 4.7% toward the end of 2018, and the median price of existing homes rises by 4.1%, then monthly mortgage payments for a typical house would rise substantially. But according to an Urban Institute analysis, middle-class families in much of the country still have some financial wiggle room if rates and prices rise in 2018. Most home buyers don’t appear to stretch to the limits of affordability, the Urban Institute wrote.
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homeowners to borrow against that equity. About 1.6 million homeowners are predicted to get new home equity lines of credit in 2018, a 16% increase over 2017, according to a recent TransUnion study. The credit bureau says 67% of homeowners have enough equity to get HELOCs, and 80% of those borrowers have high credit scores. TransUnion forecasts that 10 million homeowners will get HELOCs from 2018 through 2022, double the number of new lines of credit in the five years before that.
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The housing picture is likely to improve in 2018: • Home prices are expected to climb, but not as fast • More houses could be for sale toward the end of the year, giving home buyers a greater selection to choose from • Homeowners will have more equity to borrow from Yet in other ways, 2018 might continue to be challenging, especially for home buyers. Mortgage rates are likely to rise, reducing affordability.
Institute symposium. “So we’re looking at an environment, going forward, where this era of cheap mortgage rates will largely be behind us.” Interest rates are notoriously resistant to prediction, though. At the beginning of 2017, most people expected mortgage rates to rise steadily throughout the year. And they did rise — for a few weeks. The average 30-year fixed peaked in mid-March 2017 at 4.58%, according to NerdWallet’s daily survey. Then it declined, dipping slightly below 4% a few times in the summer, before moving upward slightly in the fall.
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The housing picture for 2018
Builders Outlook
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2017 Issue 12
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Builders Outlook
nahb.org/MA
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Builders Outlook
EPAB Membership Builder members as of June 1, 2017
AT Architectural Designs Elsa Taracena Accent Homes Mark Dyer Bain Construction Scott Bain Bella Homes Leti Navarrete Bella Vista Custom Homes, Inc. Edgar Garcia BIC Homes Antonio Cervantes
Blue Star Construction, LLC. Carlos Villasana Carefree Homes Richard Aguilar Casas De Leon, LLC Nick Bombach Classic American Homes Priscilla Hernandez Copenhagen Imports Flemming Carlsen Crown Heritage Homes Lydia Mlouhi Cullers & Caldwell Builders John Cullers Cullers Homes Jason R. Cullers Custom Dream Homes Leti & Javier Navarrete D. R. Horton Homes Jaime Gonzalez Dawco Home Builders Walter O. Lujan Deal-2-Deal Homes dba Deal-2-Deal,LLC Delton Deal Del Rio Engineering, Inc. Sal Masoud Diamond Homes, LLC Valerie Baquera Donald Ward Builder, Inc. Donald Ward E. Valencia Land Development LLC Eddie Valencia Edward's Homes, Inc. Eduardo Fernandez EPT Land Communities David Bogas Everest Homes Edmundo Dena, Jr. Fortune Custom Homes Javier Andrade Gaddy Construction Charles Gaddy GMF Custom Homes, LP Frank Torres Guel Construction Rudy Guel Hakes Brothers LLC Chris Hakes Hanson Asset Management, LP Russell Hanson Homes by Design Leslie Driggers Hoard Hunt Communities, LLC Kathy Parry Icon Custom Home Builder, LLC. Carlos Garcia Industrial Realty Group Incorporated Brent D. Harris JER Custom Homes, LLC Jorge E. Rodriguez Kayton Lee Residential, Inc. Brianna Barnes LMJ Construction Co., LLC Mike Lopez Lloyd Hamilton Construction Lloyd Hamnilton III Loyalty Homes Gustavo Loy M A Builders & Design, LLC Mustafa Ali Metro Homes, Inc. Fernando Torres, Judith Arrunada, Millennium Homes Dan Ruth New Horizon Builders Georgiana Garcia Pacifica Homes, Inc. Juan Jose Vasquez Palace Homes, Inc. Robert Diaz Palo Verde Homes Edgar Montiel Pointe Homes Carlos Villalobos Porter Homes Albert Porter R.C. Baeza & Associates Robert C. Baeza R.E. Welch Contractor Gordon Welch
2017 Issue 12
Updated every month, here is a list of the 2017 EPAB Membership. Remember to please do buinsess with fellow members.
Rassette Homes, Inc. Donald Rassette Santana Custom Homes Fernando Santana Southwest Land Development Serv. Doug Schwartz The Heritage Group David Bingham Trejo Construction Co. Juan Trejo Tropicana Building Corp. Bobby Bowling IV Tropicana Development Greg Bowling Tropicana Homes Randy Bowling Tropicana Properties Demetrio Jimenez Villagi Homes, LLC Kristi Eddings Will Harvey Development Will S. Harvey Winton/Flair Homes Herschel Stringfield Associate Members as of December 17, 2017 2-10 Home Buyers Warranty Michael Elman 84 Lumber Ernie Chavez 915 Siteworks, LLC Dan Guevara ABC Supply Co., Inc. Larry Eck Acme Brick Company Vanessa Rocha; Steve Bush Adams Moulding & Lumber Tom Swahlen Area Iron & Steel Works, Inc. Fred L. Edmonston Jr. Atrium Homes Ricardo Bocardo Jr. Bank of Texas Ray Owen Barnett & Bennett Construction Ben Trzyna Baron Supply David Trammell Barragan & Associates Benito Barragan Barrett Airworks Alexandro Castro Beasley, Mitchell & Co., LLP Brad Beasley BMC Select Jaeson Iovinella Boise Cascade Mike Flores Bonded Builders Home Warranty Grp. Bill Deal Border Solar Javier Ruiz Builders Source Appliance Gallery Kathy Rose, Sandra Lucero C. D. Lee/Britton Insurance & Bonding Anthony Landavazo; Lisa Daniels Cabinet Masters Mike Robles Cardel Design Group Lorraine Huit Casa Ford & Casa Nissan Luke Lowenfield CEA Engineering Group Jorge L. Azcarate Central Texas Metal Roofing Supply Co.,Inc. Ben Garza, III Chaparral Materials, Inc. Kevin Fortin City Bank Texas Bob Kotarski City Lights Thomas Brown Cognent, Inc. Martin Paredes Commercial Insurance Brokers, Inc. Ken Foster Conde, Inc. Conrad Conde Copenhagen Imports Flemming Carlsen CQC Testing and Engineering, LLC Jaime Rojas Dal-Tile Joseph Cepeda Delek US dba 7 Eleven Sonja Scanlan Demcon Disposal Management, LLC Maria Elena (Nena) Gomez Dempsey, Cooper & Lane, Llc Richard T. Dempsey Desert Quest Plumbing Hector Gonzalez Dunn Edwards Paints Nathan Gordon Dorney Security John Dorney
DWS Building Supply Sabrina Voorhies E.F. Building Materials, Inc. Efren Fraire Eagle Roofing Products Scott Aguilar El Paso Building Materials Ken Wade El Paso Disposal Irma Parsons El Paso Mortgage Bankers Association Randi Cabrera El Paso Star Ready-Mix Concrete Inc. David Armendariz El Paso Times Jose Molina El Paso Truss Luis Mendiola El Paso Winnelson Rene Goldfien Ferguson Enterprises Inc. Albert Holguin First American Bank Luis Sauceda,
First Light Federal Credit Union Lorenzo Revelez First National 1870 Haley Merritt Firth, Johnston, Bunn & Kerr Jay Kerr Foxworth Galbraith Lumber Dan Villarreal Franklin Building Materials Ricardo Aguilar; Cristina Sheldon G2 Ram Electric Luis Cano GCC Sun City Materials, LLC Victor Tito Marquez GECU- Greater El Paso Credit Union Brenda Aguirre Greater El Paso Chamber of Commerce Richard Dayoub GEPAR-Greater El Paso Assoc. of Realtors Sharron Ramirez Hardware Specialties Jeff R. Paxton Harris Real Estate Group Lane Harris Haskins Electric Charles B. Haskins, Jr. Home of Texas Mark Smiley Home Performance Testing Fernando Garcia/Ray Gonzales HUB International Luis Rosas Insight Mortgage Company Shawn Weeks Interceramic Tile & Stone Gallery David Holguin Inter National Bank Natalie Ojeda J & H Concrete & Post Tension Jorge Herrera James L. Ellis, CPA, PC Jim Ellis Jimmy Garza Emergency Water Removal Veronica Buchanan Jobe Materials, LP Charlie Tellez Joe Bernal Insurance & Financial Services, Inc. Joe M. Bernal L & P Building Supply Denise McConnell Legacy Real Estate Services TTI Prop. Management. Patrick Tuttle Lennox Industrie Sharon Horton Lone Star Title Co. of El Paso Sam Trimble Love Engineering, Inc. Montez Love Majestic Realtors Patti Musshorn MAK Roofing & Construction Felix Vizarreta Masco Contract Services dba Gale Insulation Tom Harmon McCoy's Building Supplies Julie Reyes Mechanical Technologies Jaime Zubiate Merrill Lynch Thomas (Tommy) Gabriel Mingo’s Painting & Remodeling Erik Chavarria
Mini Concrete Materials/ Joe Soto Morrison Supply Sam Shallenberger MTI Ready Mix, Inc. Tony Mullen
Neeuhome.com LLC Walter Pichardo New American Funding Brenda Trillo New Era Foam George Tollen Passage Supply John Chaney Patriot Mortgage Randy Bowling Pella Windows Jason Bates Performance Glass & Aluminum Hector Hernandez Pioneer Bank Kathy Carrillo Prewire of El Paso, Inc. Steven Drury PRIDE Ascend Dr. Lonny Wright Post Tension Dennis Moore Powerfoam Insulation: Metlspan NCI Group, Inc. Arnie Pederson RAC Doors Unlimited, Inc. Charles Foxx Randall Smith, CPA Randall Smith Real Estate Weekly Newspaper Riley Stephens Rebath of El Paso/Las Cruces Lisa Walling Remcon Self Storage Will Harvey
Richman Group Affordable Housing Corp. Kevin Hoffman Rocky Mountain Mortgage Company Dean Inniss Roe, Brad Bradley Roe Rudolph Chevrolet Art Smith Saldivar Electric, Inc. Martin A. Saldivar
Sarabias Blue Sanitation Monica Brown Saguaro Corporation dba EP C & D Recycling Sean Gillespie Senercon Javier Ruiz Sherwin Williams Paint Cruz Lopez Sierra Title Company/Lawyers Title Angelique Roman Simpson Strong-Tie Company, Inc. Ken Donham Snappy Publishing, LLC Ted Escobedo Solar Smart Living Larry Perea Southwest DĂŠcor El Paso Corporation Chris Matthews Spectrum Technologies Miled Daou Stewart Title of El Paso Cindy Bilbe StrucSure Home Warranty Scott Whisenant Su Casa Magazine Bob Skolnick Sun City Winnelson Dean Moore Texas Gas Services Mica Short Texas Title Company Steve Raney TFCU Yolie Melendez-Estrada The Dorian Group/Ocean Gallery USA Miguel Angel Mercado The Home Systems Heating & Cooling, Inc. Jesus Chain Trane Residential Solutions Robert Meske/ Kathleen Chacon TRE & Associates Linda Troncoso Trim Team Juan & Kris Hernandez USA General Contractors Javier Olmos Vision Consultants, Inc. Kelly Sorenson WestStar Home Loans Cinco Houghton
WestStar Bank David Osborn WestStar Title Janette Coon
Association News & Events
2017 Issue12
JANUARY 9-11,2018 INTERNATIONAL BUILDERS SHOW ORLANDO, FLORIDA
JANUARY 18, 2018 BOARD MEETING 12 NOON EPAB OFFICE
13
Builders Outlook
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UPCOMING EVENTS
FEBRUARY 8, 2018 BOARD MTG. 11:00 GEN. MTG. 12NOON EL PASO CLUB
FORMERLY CHASE BANK
If you have an event or meeting that you would like to share with EPAB members, please submit your information to: margaret1@elpasobuilders.com
Call 778-5387 today for more information
Builders Outlook
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teady emp loyment demand , affordab and economic grow le mortgag e rates will home prices and th, pent-up gradual attra kee upw headwinds ard trend in 201 p the housing mar ctive 6. and labo related to shortag However, pers ket on a istent r, along es and ava with risin impedin ilability of g mat ga to econom more robust reco erials prices are lots very, acc ists participated who ording in a Nat of Home Builders ional Association (NA Constru HB) Fall ction For ecastWebin ar.
National,
State & Local Build ing
Industry News 2015: Issue 10
2016: H ousi Recovery ng to pick up steam a challeng mid es
“This recov NAHB Chief ery is all about jobs,� said people can Economist David they have, Crowe. incomes, get good jobs “If that the housi about purchthe more comfo to move rtable they ng marke pay decent asing a forwa t will contin feel new And while The good rd.� ue mortgage home.� expected news, Crow interest total U.S. to employmen e added, is averaging rise over the near- rates are that well above 4.5 perce t of 142 percent nt in 2016 term, Single-Fam that occur the previous peak million is now in ily Conti red in 2008. expected 2017, Crowe said and 5.5 of 138 million Turning nues to to have The one to the foreca Post an impac this is not recovery. projecting st, NAHB Gains been concecaveat is that job t “As the 719,000 economy on the housing and wage 2015, up single-famil is sector, whichntrated heavily growth has gets growt 11 perce better y starts h should in the servic even thoug nt produced in keep pace. , job than goods tends to pay h mortg last year. from the 647,000 lower wage e will still producing production Single-famil units be low by age rates will rise, So s Meanwhile, jobs. y historical very afford they additional is projected to home equity doubled standards increa able.� 27 perce since has and units. nt in 2016 se an $12.5 trillion 2011 and now nearly to 914,0 Supply stands at . 00 On the multif Head “The single amily side, 354,000 Crowe notedwinds bigge people’s produ units last several portfolio st asset in most hindering 331,000 year, slight ction ran at factor is the home said Crow a level that ly above e. “That NAHB survemore robust recovs that are they own,� level of the ’s primary production.is considered a ery. Citing y of its purchasers important becau normal builders expected Multifamily se the sellers of reported members, 13 perce an same of new home to rise 9 perce starts the cost existing labor was this year nt of concerns s are nt to 387,0 are homes. and a and post The more the that conce significant proble availability of that ratio shot regarding lots 00 decline equity to 378,0 a modest 3 perce units in 2011 rn m and Concerns up to 58 perce nt About one-fijumped to 61 percein 2011 and Residential 00 units in 2016. nt in 2014. nt in 2014. fth of builde remodeling at 58 perce over building forecasted materials rs share nt amon activity is stood from 33 d the g builde over last to increase 6.8 percent rs in 2014, perce year and in 2011. up No doubt percent rise an additi nt in 2015 in 2016. onal 6.1 ideas that that the home brought really made together that much the show case home of actua more interesting. lly piecin Conti The proce nued Page g the walls setting up 6 together, ss the floor The annua a wall or and l Fall Home in the ceiling the all that goes brought and Garde the faint thousands on is not some hearted. n show Judson of peopl thing Habitat “We were Willia e for asked by for show kicked ms Convention into the could from Humanity to donat people were off October 9. Center as the e what we this build, could,� Torres The throng and I’m presented greeted by a proud that told the the show very nicely s of we Outlook. case was producer show complimen waiting for quickly taken The rest of ts of Show Techn Antonio. ology out the to a lot parts that some of the frame of San could be and The show other waste. used so Overall showcase featured a spect a very beaut to not go to showcase home by acular iful Metro Home new builde for years home that will contin green r member to come was made s. The design ue to give . of The Fall site in orderto be partially constthe display Home and show of Garden its established to meet the time ructed off some time,� center was kind this year since was the only lines that even for the show. taken over the Sam Shalle said Associates Bowling “I have to with that for the Men’scivic Chairman Cham tell hustled additional and exhib nberger. “We had to make time we you center turned pionship (ABC). itors and bring to sure we product really The civic into a large have.� the that was new displays had complete to bowling a nice thing what’s hot consumer becau with state CTU Metro show,� said Ferna a great alley se I know run into The prese in the world to ndo Torres said. situations of the art lanes nting attrac staged the Homes. Beautiful of walls, of Wizard, . “We center or like this � Santos tion was and elega Brian when the halls we Our since the show house became the Wall ntly demonstrat Santos who civic that can use are the favori winning did sever and all the re thanks to CTU the fit ions during te of Best of efforts. al “I really Show for of Show our shows,� said only ones “We the three love comin Acosta Realsuppliers and the Metro Homes Technology the Tommy off our mode are excited to so many g to El Paso day event. Mantini flexib staff of David be . Estate. “We able ls le folks for but of gratitu have to to show We also estate agent to the public and seein the first the Outlo de be we would then again I know and to the g time,� Brian ok. “The civic cente to the exhibitors owe a debt have pent market and s because we’re that this real Builders El Paso told who filled showed r with good year up dema new we has Assoc things think during to the product the nd and it iation we have for the visitor products and other assoc helped me get to What impre this event.� lots other gigs of Home and to see. continued. offer the consumer,�a very good ssed many recommend iations and I’m Our Sprin of with aisles and Garden Torres grateful was the 11-13 Show g ation, the , for 2016. amou � he contin is on carpeted who has the comfortably nt of authored ued. Santo reach poten Don’t miss this for March move aroun room to and is an several was one s, d. “I thoug “how to� inventor Technology tial customers. opportunity to of the nices books companies and innov ht this Visit Show t shows www.show today at ator for we’ve had several relationship including Home in Depot. informationtechnology.com “My Depot and with Rubber Maid to get on the Spring show. Lowes is and Home really a great thing to See More Photos Page 8
Fall Home and Garden Show attracts thousan ds
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14 EPAB Installation & Member Recognition December 8, 2017
Builders Outlook
2017 Issue 12
Builders Outlook
2017 Issue 12
6046 Surety Dr. El Paso, TX 79905 915-778-5387 • Fax: 915-772-3038
â– ExEcuTivE OFFicERS PRESiDENT Edmundo Dena vicE PRESiDENT Sergio Cuartas SEcRETARY/TREASuRER Edgar Garcia ExEcuTivE vicE PRESiDENT Ray Adauto PAST PRESiDENT Don Rassette
■TAB STATE DiREcTORS Randy Bowling - Life Director Sam Shallenberger Edmundo Dena
â– NATiONAL DiREcTORS Bobby Bowling, IV Demetrio Jimenez Leslie Driggers Hoard -Alternate Antonio Cervantes - Alternate
Finance committee Kathy Carrillo Henry Tinajero
■ADviSORY TO THE BOARD Jay Kerr, Firth, Johnston, Bunn & Kerr
■BOARD OF DiREcTORS Builders: Delton Deal, Deal 2 Deal J.J. Vasquez, Pacifica Homes Leti Navarrete, Bella Custom Dream Homes Bud Foster, Southwest Land Development Kathy Parry, HUNT Communities Lee Gillett, Classic American Laura Loy, Loyalty Homes Walter Lujan, Dawco Homes Fernando Torres, Metro Homes Leslie Driggers Hoard, Homes by Design Carlos Garcia, ICON Custom Sal Masoud, Del Rio Development Fernando Santana, Santana Custom Homes Chris Hakes, Hakes Brothers Associates: Joe Bernal, Joe Bernal Insurance Henry Tinajero, WestStar Bank Kathy Carillo, Pioneer Bank John Chaney, Passage Supply Luis Rosas, HUB International Brenda Aguirre, GECU Mortgage Sandra Lucero, Builders Source Ted Escobedo, Snappy Publishing Jorge Herrera, J&H Post Concrete & Post Tension Angelique Roman, Sierra Title Patrick Tuttle, Legacy Real Estate Sam Trimble, Lone Star Title Patricia Martinez, Stewart Title Randall Smith, Randall Smith, CPA
Past Presidents committed to Serve Edmundo Dena Edgar Montiel Frank Torres Frank Arroyos Greg Bowling Randy Bowling Bobby Bowling Iv Doug Schwartz John Cullers Robert Baeza Mark Dyer Kelly Sorenson Rudy Guel Brad Roe Herschel Stringfield Bob Bowling Iii Pat Woods
EPAB Mission Statement: The El Paso Association of Builders is a federated professional organization representing the home building industry, committed to enhancing the quality of life in our community by providing affordable homes of excellence and value. The El Paso Association of Builders is a 501C(6) trade organization. Š 2017 Builder’s Outlook is published and distributed for the El Paso Association of Builders by Ted Escobedo, Snappy Publishing, LLC ted@snappypublishing.com El Paso • Texas • 915-820-2800
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