FOR IMMEDIATE RELEASE
CONTACT: Paul Lopez
202-266-8409
plopez@nahb.org
www.nahb.org
Housing Starts Decline, Permits Rise in August
WASHINGTON, Sept. 20 - Nationwide housing starts declined 5.0 percent to a seasonally adjusted annual rate of 571,000 units in August, according to figures released by the U.S. Commerce Department today. The decline was primarily on the more volatile multifamily side, with single-family housing production edging down just 1.4 percent. Meanwhile, permits for new construction posted modest gains in both sectors.
"At this point, most builders are only looking to replenish their depleted inventories of new homes for sale, but otherwise holding off on new projects," said National Association of Home Builders (NAHB) Chairman Bob Nielsen, a home builder from Reno, Nev. "While we would like to get more crews back on the job, we need to see solid improvement in consumer demand, greater access to credit for both builders and buyers, and a reduction in the number of foreclosed properties on the market before we can ramp up new production."
"Today's numbers are completely consistent with NAHB's forecast for the quarter, and are in keeping with the anemic economic and job growth we are seeing across most of the country," said NAHB Senior Economist Robert Denk. "That said, we continue to anticipate modest gains in new-home production through the end of this year with greater momentum building into 2013, and some pockets of improvement are already evident in about a dozen metros nationwide."
Single-family housing starts declined 1.4 percent to a seasonally adjusted annual rate of 417,000 units in August, while multifamily production - which tends to display greater volatility on a month to month basis - declined 13.5 percent to a 154,000-unit rate. Regionally, combined starts activity was mixed in August, with the Midwest and West posting gains of 2.6 percent and 2.2 percent, respectively, and the Northeast and South posting declines of 29.1 percent and 3.3 percent, respectively.
Building permits, which can be an indicator of future building activity, rose 3.2 percent to a seasonally adjusted annual rate of 620,000 units in August, their highest level since last December. Single-family permits gained 2.5 percent to 413,000 units, while multifamily permits gained 4.5 percent to 207,000 units.
Permit issuance rose in three out of four regions in August. The South was the only region to post a decline, of 1.3 percent, while the Northeast, Midwest and West posted gains of 3.3 percent, 6.3 percent, and 11.3 percent, respectively.
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ABOUT NAHB: The National Association of Home Builders is a Washington-based trade association representing more than 160,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 800 state and local home builders associations around the country. NAHB's builder members will construct about 80 percent of the new housing units projected for this year.
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Tuesday, September 20, 2011
FOR IMMEDIATE RELEASE
Paul Lopez
202-266-8409
plopez@nahb.org
www.nahb.org
Balanced Approach Needed to Dispose of REO Properties, NAHB Tells Congress
WASHINGTON, Sept. 20 - The National Association of Home Builders (NAHB) today urged the Administration and Congress to take a balanced approach in disposing of the large inventory of real estate owned (REO) properties held by Fannie Mae, Freddie Mac and the Federal Housing Administration to avoid further disruptions to pricing and markets and to limit further losses to the two government sponsored enterprises and the FHA.
Testifying before the Senate Subcommittee on Housing, Transportation and Community Development on new ideas to address the glut of foreclosed properties, NAHB Chairman Bob Nielsen, a home builder from Reno, Nev., said that Fannie, Freddie and the FHA should avoid bulk sales to large investors that have no stake in the neighborhoods in which these properties are located.
"Local and small businesses that have a stake in the future of the affected communities should be the driving force behind the disposition of the REO inventory. This will result in the creation of jobs and the stabilization of neighborhoods," said Nielsen.
NAHB also urged Congress to extend the current conforming loan limits for Fannie Mae, Freddie Mac and the FHA, which are due to be lowered on Oct. 1.
"This is not a time to reduce loan limits as the lower limits will exclude many homes and home buyers from FHA and Fannie and Freddie loan programs, particularly in areas like California where there is substantial foreclosure inventory," said Nielsen.
Given that many potential buyers who lack sterling credit are unable to take advantage of today's record-low mortgage rates, Nielsen said that mortgage financing terms for home buyers need to be more reasonable than the overly restrictive standards that are currently in place.
In addition, NAHB urged the regulators to allow modifications to a number of existing federal housing programs, particularly altering rules that restrict or prohibit for-profit investors, in order to effectively reduce foreclosures.
"With the scale of the problem so large, it is necessary to deploy all resources in both the for-profit and nonprofit sectors," he said.
To further help reduce excess inventory, NAHB also offered suggestions for a new investment fund and lease-purchase program.
"We support the goals to maximize value for taxpayers and increase private investment in the housing market," said Nielsen. "Stabilizing home values will improve the balance sheets of financial institutions and will reassure home owners that their biggest asset will retain its value."
To view NAHB's testimony before the Senate subcommittee, please go to http://nahb.bz/rbNZJ6.
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ABOUT NAHB: The National Association of Home Builders is a Washington-based trade association representing more than 160,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 800 state and local home builders associations around the country.
Follow us on Twitter at www.twitter.com/NAHBMedia.
**************************************************************
1201 15th Street NW, Washington, DC, 20005
**************************************************************
Click below to unsubscribe:
http://ping.fm/AyuFn
Paul Lopez
202-266-8409
plopez@nahb.org
www.nahb.org
Balanced Approach Needed to Dispose of REO Properties, NAHB Tells Congress
WASHINGTON, Sept. 20 - The National Association of Home Builders (NAHB) today urged the Administration and Congress to take a balanced approach in disposing of the large inventory of real estate owned (REO) properties held by Fannie Mae, Freddie Mac and the Federal Housing Administration to avoid further disruptions to pricing and markets and to limit further losses to the two government sponsored enterprises and the FHA.
Testifying before the Senate Subcommittee on Housing, Transportation and Community Development on new ideas to address the glut of foreclosed properties, NAHB Chairman Bob Nielsen, a home builder from Reno, Nev., said that Fannie, Freddie and the FHA should avoid bulk sales to large investors that have no stake in the neighborhoods in which these properties are located.
"Local and small businesses that have a stake in the future of the affected communities should be the driving force behind the disposition of the REO inventory. This will result in the creation of jobs and the stabilization of neighborhoods," said Nielsen.
NAHB also urged Congress to extend the current conforming loan limits for Fannie Mae, Freddie Mac and the FHA, which are due to be lowered on Oct. 1.
"This is not a time to reduce loan limits as the lower limits will exclude many homes and home buyers from FHA and Fannie and Freddie loan programs, particularly in areas like California where there is substantial foreclosure inventory," said Nielsen.
Given that many potential buyers who lack sterling credit are unable to take advantage of today's record-low mortgage rates, Nielsen said that mortgage financing terms for home buyers need to be more reasonable than the overly restrictive standards that are currently in place.
In addition, NAHB urged the regulators to allow modifications to a number of existing federal housing programs, particularly altering rules that restrict or prohibit for-profit investors, in order to effectively reduce foreclosures.
"With the scale of the problem so large, it is necessary to deploy all resources in both the for-profit and nonprofit sectors," he said.
To further help reduce excess inventory, NAHB also offered suggestions for a new investment fund and lease-purchase program.
"We support the goals to maximize value for taxpayers and increase private investment in the housing market," said Nielsen. "Stabilizing home values will improve the balance sheets of financial institutions and will reassure home owners that their biggest asset will retain its value."
To view NAHB's testimony before the Senate subcommittee, please go to http://nahb.bz/rbNZJ6.
#####
ABOUT NAHB: The National Association of Home Builders is a Washington-based trade association representing more than 160,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 800 state and local home builders associations around the country.
Follow us on Twitter at www.twitter.com/NAHBMedia.
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http://ping.fm/AyuFn
Monday, July 5, 2010
Sanctuary
A garden can be a sanctuary for nature, a place where birds come to sing, and where the ever changing colors and forms of living things are at home, and it can be a sanctuary for the human heart, a place to relax, extend, converse, enjoy, a place to be. Stone, wood, metal, water - We know how to work with materials and with space to create a timeless place, a meeting of nature and a special place for you. An undistinguished space invisible in its ordinariness becomes a work of art and growth through changing light and seasons. Ocean Blue Pools works to give you a special place on your own little piece of our Earth while you're in charge of it. We make sure that what you leave behind to your children and theirs will get more beautiful generation after generation.
Services
Design Services: Ocean Blue utilizes "Pool Studio" Pool and Landscape 3D rendering to provide you with the absolutely best first look you can get at your new outdoor living environment. Also, we can provide you with drawings for permit and Homeowner's association needs. Our design services are provided at no additional cost to you if you hire us to do your work. Call us for more details.
Pool Construction: Ocean Blue Pools & Landscape, Inc.'s quality of workmanship is second to none. Our Quality, Craftsmanship, and dependability is what sets us apart form all the rest. From Design, Construction to completion, OB keeps you in the loop and informed. We take pride in the fact that we finish your outdoor project, in time and within budget. Our work is premier and way above the curve and our prices are guaranteed!
Spas: San Diego Pool contractors will all tell you that they make the best spas. We will prove it to you. Symmetrical, geometrical or free form natural. Pools, Spas and "SPOOLS" are our specialty. We'll let our designs speak for themselves. Hire us to do your design and if you decide to hire us to build it for you we will credit the cost of your design against your final payment.
Water Features: Fountains, Waterfalls, Ponds, Streams and small Lakes. A Team approach, Creativity and attention to detail is what Ocean Blue is all about. If you want a small feature at the entry of your home or if you want a 2 acre lake, stocked with Catfish, Blue Gill and Bass, Ocean Blue is the company for you. Our upper management all love the outdoors and these projects get their special attention. When we build a natural water feature we feel like we are giving back to the Earth, just a little. Our Designers will blow you away with their designs. Guaranteed!
Commercial Landscape: Ocean Blue's Landscape Division touts it's aggressively low pricing for commercial landscape maintenance. You might find it "Cheaper" but we guarantee that you won't find a better value. Professional craftsmen and workers that promise dependability and know-how. You can trust your development or commercial property to us. We ask that you add us to your Bid Invitation list and give us a shot the next time you go to bid for your annual contracts.
Welcome To Ocean Blue Pools and Landscape, Inc.
Ocean Blue pools and Landscape, Inc. will meet with you, get your ideas on paper and when you decide to go forward, Ocean Blue will construct, with precision your dreamscapes. Take your next vacation at Home!
Ocean Blue, "Where Dreams are Built!"
Call Us Today at (760) 803-9747
Ocean Blue, "Where Dreams are Built!"
Call Us Today at (760) 803-9747
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