BUILDERS FRAMEWORK
FREDERICKSBURG AREA BUILDERS ASSOCIATION
Housing affordability last quarter was at a 10-year low, and it appears that conditions at the start of 2019 aren’t likely to improve much. The Federal Open Market Commit- tee recently raised its target for the federal funds rate (the interest rate at which banks lend money to each other) by 25 basis points. This was the fourth rate hike of 2018. However, experts predict interest rates will rise at a less aggressive pace next year. NAHB Chief Economist Robert Dietz noted in a recent Eye on Housing blog post that the Fed’s “policy projections suggest two rate increases in 2019 and one additional rate increase in 2020.” Nevertheless, NAHB is forecasting no rate hikes in 2020, after what some, including Dietz, anticipate will be a noticeable slowdown in GDP growth in 2019. Mortgage interest rates, however, are likely to stay the course for the time being, after a decline in December. The 10-year Treasury rate, which is the key variable for mortgage interest rates, declined recently to below 2.77%. A lower 10-year rate typically means lower mortgage interest rates.
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Volume 3: Issue 1 │ January 2019
FREDERICKSBURG - STAFFORD - SPOTSYLVANIA - CAROLINE - KING GEORGE - ORANGE
Click here to watch!
THURSDAY, JAN. 17, 2019 5 pm - 7 pm SPLITSVILLE Click here for info
Presidents GALA
HARD HAT Happy Hour
How the Fed Rate Hike Affects Housing
SATURDAY, JAN. 19, 2019 A. Smith Bowman Distillery Click here for tickets and info
NAHB Recognized for Lobbying Clout
The Trump administration in December released its proposed new definition for “waters of the United States” (WOTUS) that will resolve years of uncertainty over where federal jurisdiction begins and ends. This represents an important victory for NAHB members. Under the proposed rule, short-lived ponds, streams and tributaries that only flow in response to a rain event would be excluded from federal regulation. The rule would also exclude wetlands not directly connected to federally- regulated bodies of water. The action honored a campaign promise President Trump made to the NAHB Board of Directors in 2016 when he was running for office. The new rule announced today will be open to a public comment period for 60 days and it is expected to be finalized and instituted in all 50 states by the fall of 2019.
Save Money on Nissan or Infinity
President Trump on Dec. 12 signed an executive order to spur more investment in opportunity zones, a type of economic development incentive created by the Tax Cuts and Jobs Act of 2017. Opportunity zones seek to incentivize investment and economic development in under-served communities. Developers may use a Qualified Opportunity Zone Fund to help fund projects located within an oppor- tunity zone. This new source of investment dollars could prove to be a powerful economic tool if properly administered.
EPA Proposes New WOTUS Definition Could Be a $2.5 Billion Tax Could Be a $2.5 Billion Tax Court
“The Hill,” a prominent Capitol Hill publication, recently named NAHB CEO Jerry Howard to its list of elite Washington power players. Although “The Hill” highlighted one person from each organization listed, Howard noted that his inclusion represents the hard work of many individuals. “The fact that NAHB is recognized as one of the most power- ful trade groups is a testament to the shared efforts of our members; the NAHB staff, most notably Chief Lobbyist Jim Tobin and his government affairs team; EOs; councils and all those who work on behalf of the association to keep housing at the forefront of the national agenda,” Howard said.
Nissan North America and NAHB are excited to present members, their employees and HBA staff with the opportunity to purchase a new Nissan or Infiniti vehicle using exclusive incentives for members through the NAHB Savings Program. Click here to learn how to take advantage of this great member savings benefit. The Federal Housing Administration (FHA) on Dec. 14 published a final rule that streamlines the home warranty require- ments for FHA single- family mortgage insurance. The rule eliminates the regulations that require borrowers to purchase 10-year protection plans in order to qualify for certain mortgages on newly- constructed single-family homes. This final rule becomes effective March 14, 2019.
FHA Publishes New Home Warranty Rule
Trump Advances Opportunity Zones
Key Forestry Provisions in Farm Bill
Survey Finds Most Americans See Affordability Crisis
Congress on Dec. 12 passed the 2018 farm bill that includes key NAHB-supported for- estry provisions from Rep. Bruce Wester- man’s (R-Ark.) forestry bill to implement critical forest management reforms that will help improve the health of the nation’s forest system and reduce America’s reliance on foreign sources of timber. The bill would also increase funding for the Collaborative Forest Landscape Restoration Program to empower rural communities to restore effective forest management and improve forest health. It also contains several provisions in the Timber Innovation Act that will support the development of timber products for building construction. NAHB fought hard to ensure the farm bill contains a forestry title in order to increase the supply of domestically produced timber from federal lands.
Nearly three out of four American households believe that the nation is suffering a housing affordability crisis, and a majority of respondents reported this is a problem at their local and state level as well, according to a recent nationwide survey conducted on behalf of NAHB. More than 2,200 adults were surveyed Nov. 27 through Nov. 30 to assess the public’s attitude on whether a lack of affordable housing is a problem in their neighborhoods, cities, states and nationwide. The poll cuts across partisan, regional, demographic and socio-economic lines. Among its key findings: 73% of respondents believe that a lack of affordable housing is a problem in the U.S. 68% believe this is an issue in their state, and 54% cite housing affordability as a concern in their neighborhood. 58% said that if they decided to purchase a home in the near future, they would have trouble finding a home they could afford in their city or county. Nearly a third of America’s 119 million house- holds are cost burdened and pay more than 30% of their income for housing, based on NAHB analysis of 2017 Census data.
Employers Must Use New I-9 Form
Make plans to attend NAHB’s annual Meeting of the Members, 8:00 a.m. on Wednesday, Feb. 20, at the Westgate Hotel in Las Vegas during the International Builders’ Show. This meeting provides NAHB members an insider’s view of the association's advocacy priorities and gives them a voice in setting those priorities. Attendees also learn about how to take advantage of NAHB’s many membership benefits and have the opportunity to network with other professionals in the housing industry. NAHB Chief Economist Rob Dietz will update members on the industry outlook. Randi Zuckerberg, founder and CEO of Zuckerberg Media, will be the keynote speaker. Already registered for the International Builders' Show? Click here to register for the Meeting of the Members.
NAHB's Meeting of the Members
BUILDERS & CONTRACTORS: SAVE THE DATE 2015 Building Code Changes Training Friday, March 29, 2019 8 am - 4 pm Spotsylvania County School Board Building 8020 River Stone Dr, Fredericksburg, VA 22407 More details are coming soon!
Thursday, Jan. 17 FABA to Capitol Hill Meeting 8:30 - 11:00 am Meet at 6:45 am at theCracker Barrel Massaponax to CARPOOL or Meet in Richmond at 8:15 in the Lobby of the Pocahontas Building Thursday, Jan. 17 Hard Hat! 5:00 pm - 7:00 pm Splitsville Saturday, Jan.19 Presidents Gala 6:00 pm - 11:00 pm A. Smith Bowman Distillery Wednesday, Feb. 13 Associates Committee Meeting 9:00 am - 10:00 am FABA Boardroom Wednesday, Feb. 13 Membership Committee Meeting 10:00 am - 11:00 am FABA Boardroom Thursday, Feb. 21 Legislative Committee Meeting 8:30 am - 9:30 am FABA Boardroom Thursday, Feb. 21 Hard Hat! 5:00 pm - 7:00 pm TBD Thursday, Feb. 28 OSHA-10 Safety Training - Pt. 1 10:00 am - 4:00 pm Germanna FredCAT Friday, March. 1 OSHA-10 Safety Training - Pt. 2 10:00 am - 4:00 pm Germanna FredCAT Wednesday, March. 6 Graphs & Laughs Economic Forecast with Elliot Eisenberg 8:00 am - 10:30 am Riverside Dinner Theater Friday, March 29, 2019 2015 Building Code Training 8:00 am- 4:00 am Spotsylvania County School Board Building 8020 River Stone Dr, Fredericksburg, VA 22407 FABA will be CLOSED Jan. 21, 2019 to observe the federal holiday (and recover from the Presidents Gala).
January 2019 Calendar at a Glance
Welcome... New Members & Thank You Spikes ! Contractor Websites Plus (Stafford Technologies), spike Sherrie Shaw Mission Disposal, Inc., spike Michelle Hughes Sheli Schneider, Realtor (Samson Properties), spike Marc Simes Esther Stanard, Realtor (United Real Estate Premier), spike Christine Singhass Mary Jordan, Realtor (United Real Estate Premier), spike Christine Singhass Aquia Realty*, spike Gary Parker Bob’s Pools & Spas*, spike Jeff Liller *Back as member after expiration.
December 2018 Membership Report
Thank you... Renewed Members Renewed Builder Members Built Right Homes Republic Home Builders Walt’s Construction Inc Coleman Homes, Inc. Renewed Associate Members Carter Lumber Company Legacy Engineering Quarles Petroleum Inc. Roofworks of Virginia, Inc. Rappahannock Electric Cooperative ARS/General Heating C&O Home & Business Services, LLC Liberty Mutual Insurance Comcast Communications Renewed Affiliate Members John Hayden – Assurance Financial Kent Schrader – Assurance Financial Jen Gallagher – Reico Michelle Stoots – Reico Cameron Landeck – Reico Susan Rotelli – Reico Allen Parker - ECS Thank you for your continued support!
FABA Members, we are about to begin the process of assembling our 2019 Membership Directory. In order to start from the most current information, we will be contacting you to verify your company and contact information. The directory includes the following: Company Name Primary Contact Person Name Phone Number Address (mailing address or physical address, whichever you want published in the book) Primary Contact Email Company Website address Your Business Category You can help us by confirming the information we have in our membership database by logging into your account on our FABA website. If you don't have your log in information, to the members-only side of the www.fabava.com website, please contact us today at: events@fabava.com and we will resend your log in details.
Why Volunteer? Part of being a great volunteer is loving what you're doing. Find something that you're passionate about or something that inspires you, and then find a need in your community. There are dozens of reasons why you should volunteer - you just need to find the one that feels right. 20 GREAT REASONS TO VOLUNTEER - Help others - Make a difference - Find purpose · Enjoy a meaningful conversation · Connect with your community · Feel involved · Contribute to a cause you care about · Use your skills in a productive way · Develop new skills · Meet new people · Explore new areas of interest · Meet good people · Impress your mom · Impress yourself · Expand your horizons · Get out of the house · Make new friends · Strengthen your resume · Feel better about yourself
FABA Membership Directory Information
2019 FABA Board of Directors
FAB Foundation continues it's mission to further the Workforce Development in the Fredericksburg Region. If you are looking for an intern, apprentice, or job shadow opportunity please contact FABA as we have several pipelines to help you find the best student- tradesman match. Legislative Conference calls are every Friday until Febraury 15th at noon in the FABA Boardroom. Join us to stay up to date on the 123 pieces of legislation proposed this year that may affect our industry.
President Marc Simes WJ Vakos 1st Vice President Stacey Lampman Spaces Design Studio 2nd Vice President Scott Hine Assurance Financial Group Secretary Sara Fila Legacy Engineering Treasurer Jeremiah Horstick CORELOT Immediate Past President Gene Brown Atlantic Builders, Ltd. Associate Vice President John Reid Embrace Home Loans Builder Director Dan Sandoval Republic Home Builders Builder Director Sean Halsey Halsey Homes Builder Director John Gasque Toll Brothers Inc. Builder Director Tim Hall Tricord Homes Builder Director Teressa Taylor-Griffis Foundation Homes Builder Director Brandon Serbay Built Right Homes Associate Director Bruce Reese Legacy Engineering, PC Associate Director Frank Sigmon Builders FirstSource Associate Director Rusty Cowper Embrace Home Loans Legal Counsel Charlie Payne Hirschler Fleischer Executive Officer Maria Moore FABA
FAB Foundation
Legislative News
Over $13,000
The Stafford County Community Development Service Center’s operational hours will change beginning January 10, 2019 to 9:00 am to 4:30 pm on Thursdays. We will be open during our regular hours, 8:00 am to 4:30 pm on all other work days. For questions, please contact: Brenda J. Schulte; Community Development Service Center Manager bschulte@staffordcountyva.gov or (540)658-8650 Apply online at https://progress.stafford.va.us/DP84
New Office Hours on Thursdays
News from Stafford County Department of Public Works
renewable scholarships will be awarded!
NEWS AND HAPPENINGS Send us your press releases, news, and event information! We can post it here in our newsletter and on the Member Happenings page of our website! Contact admin@fabava.com for more information.
JOB OPENINGS? Do you have job openings, apprenticeships, or internships to fill? Contact us today! FAB Foundation is working with FABA's workforce partners to help you fill these positions with qualified and trained local students. FABA also posts job openings on the FABA website. Contact admin@fabava.com for more information or assistance.
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We help you ask the right questions about home or commercial roofing and exteriors. By combining our passion for our industry and our belief in 100% customer satisfaction, you have found the right experts for quality advice. Our goal is to provide our customers with the most outstanding service in the industry while maintaining a family atmosphere for our customers, vendors, and employees. Our 30,000 square foot facility allows us to buy in large volume and pass the savings on to our customers. Our partnerships with several manufacturers have strengthened our resources giving us valuable insight and education that we pass on to our customers. We are consistently proactive in researching new products, materials, and techniques so that our clients will have access to the latest product offerings in our market.
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