BANN Bulletin - November 2019

BANN BULLETIN

November 2019

Upcoming Events

November 15- BANN-ER Awards

December 12 -

Mix Mingle Jingle

January 30 -

Forecast 2020

FULL LIST OF EVENTS

23rd Annual BANN-ER Awards

BANN-ER Awards is tomorrow-November 15th! We hope you have bought your tickets.

Our guest speaker for this nights event will be Jim Tobin from The National Association of Home Builders (NAHB).

Cocktail hour starts at 6:30 p.m.

Remodeler's Committee: Charity Spotlight

Thanksgiving Food Drive

Please join in to help those in need this holiday season by providing food for local families in our community. The Remodeler’s Committee has been instrumental over the years in helping 15 families at Sarah Winnemucca Elementary with complete Thanksgiving and Christmas meals. Thank you for those that have donated in the past and once again so generously this year. The spirit of giving is strong at the Builders Association. Thank you all so much for taking part in this effort. If you would like to participate, please e-mail info@thebuilders.com or call our office 775-329-4611.

New Rule Exempts Appraisals on Some Homes

Article from NAHB

The Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve have issued a final rule to raise the threshold from $250,000 to $400,000 for residential real estate transactions that would require an appraisal. In a recent press release, the regulators stated that given price appreciation in residential real estate transactions since 1994 (when the appraisal threshold was last increased to $250,000), “the change will provide burden relief without posing a threat to the safety and soundness of financial institutions.”

Website Explains Opportunity Zones

Article from NAHB

The White House has released a new website that will serve as an information hub for the Opportunity Zones initiative established as part of the Tax Cuts and Jobs Act of 2017. Opportunity Zones provide tax incentives for investors with capital gains to invest in and provide an economic boost to under-served communities. 

Stop Being so Paternalistic!

Elliot Eisenberg, Ph.D.

GraphsandLaughs, LLC

So there I am, at home, relaxing in my study in the midst of thinking about the lousy economy, the anemic number of housing starts, the troubles with Fannie and Freddie and the soaring budget deficit. Deeply concerned by all this, I close my eyes, place my feet on the hassock, turn on the radio and wait for some soothing music to wash over me and refresh my tired, stressed soul. See more.

*Please note this will be Elliot Eisenberg's last article. However you can catch him at our Forecast event in January 2020.

Builder Confidence Hits 20-Month High

Article by NAHB

Builder confidence in the market for newly-built single-family homes rose three points to 71 in October, according to the latest NAHB/Wells Fargo Housing Market Index (HMI) released in mid-October. Sentiment levels are at their highest point since February 2018. “The second half of 2019 has seen steady gains in single-family construction, and this is mirrored by the gradual uptick in builder sentiment over the past few months,” said NAHB Chief Economist Robert Dietz. “However, builders continue to remain cautious due to ongoing supply side constraints and concerns about a slowing economy.” Derived from a monthly survey that NAHB has been conducting for 30 years, the HMI 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.