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weekly updates from your association
2935 Breezewood Avenue, Suite 100 Fayetteville, NC 28303         910.826.0648        admin@fayhba.org     
Week of June 5
In This Issue In Every Issue

Register Today!

Player fees include:
Golf cart, driving range, breakfast, lunch, drinks, beer, snacks, raffle, hole in one prizes, prizes for top 3 teams!
August 6, 2015
Gates Four Golf & Country Club
  • 9:00 am Check-In & Driving Range
  • 9:30 am Breakfast
  • 10:00 am Shotgun Start
  • Immediately Following Tournament Lunch, Awards & Prizes
Sponsorship and Player 
Information
North Carolina Landscape Contractors' Licensing Law Effective August 1
   In 2014, the NC General Assembly enacted the Landscape Contractors' License Act by transforming the current NC Landscape Contractors' Registration Board into a licensing board. This new board will issue licenses, monitor licensees, and prosecute license violators to protect consumers. This new Act becomes effective on August 1, 2015.
   Licensed general contractors who possess a license classification of building, residential or public utility contractor are exempt from the requirements of the Act. Those holding such a classification may engage in activities which constitute landscape contracting under the Act without being licensed by this new Landscape Contractors' Board. Subcontractors engaged by licensed general contractors to perform activities that constitute landscape contracting are not required to be licensed under the Act, unless the project at the job site exceeds $30,000 (including labor, materials and other services) over a consecutive 12-month period. Land clearing and erosion control activities are also exempt from the requirements of the Act.
Other provisions of the law include:
  • Licensees must post a $10,000 surety bond that protects the customer against losses resulting from the contractor's failure to meet contract obligations.
  • Licensees are allowed to engage in landscape projects costing more than $30,000, within the definition of landscape contracting, without required to be licensed as a general contractor.
  • All landscape projects and /or contract specifications for planting and other site elements should, at a minimum, meet the new Standards of Practice for Licensed Landscape Contractors. Landscape architects can make more stringent specifications, but the minimum standard should meet the new law's Standards to avoid conflict with the Licensed Landscape Contractor who wins the project - and ultimately avoid problems for the client.
   NCLBLB is developing the new Standards and will forward and post on the NCLCLB website as soon as they are available.
   The license is good news for your clients - there will be another level of protection and professionalism from the Licensed Landscape Contractor hired to do your landscape work.
   For specific statue language, all exemptions and other information about the new law, license and Licensing Board, please visit www.nclclb.com.
Come by the HBAF office to support BuildPAC and purchase your raffle tickets!



THANK YOU FOR YOUR CONTRIBUTIONS
TO BUILDPAC


Wells Alderman
Brian Canady
John Elliot
Natalie Fryer
Lynne Greene
Mitch Guy 
Ned Johnson
Kristopher Kenny
Pat McKee
Jason Poole
PJ Satterly
Kevin Shortridge
Sharlene Williams
The Economic Forecast for the Second Half of 2015: A Single, Possibly a Double but No Homeruns
Elliot Eisenberg, Ph.D., GraphsandLaughs, LLC
   Despite GDP growth stalling in Q1, this time due to bad weather, a port strike on the west coast, a rising dollar and falling oil prices, the economic recovery remains intact.  The poor performance of the US economy from January through March was aberrant, and the incoming employment, housing, and service sector data all point to a modest economic pickup.  GDP growth the rest of the year should average 2.6%, with growth in Q2 closer to 1.75% as the economy slowly rebounds from a tough Q1.  An expected pick-up in wages and oil exploration activity and possibly increased corporate spending on plant and equipment suggest that 2015 will probably improve as it progresses. 
   Despite falling energy prices, household spending has been very lackluster.  As a result, savings rates are up and spending on durable and non-durable goods has been weak.  Simultaneously, because the strong dollar has made US exports more costly abroad and imports cheaper here, manufacturing activity has slowed.  And due to falling oil prices, oil exploration has plummeted, with just 646 rigs in operation, down from a high of almost 1,600 eight months ago.  That said, rig counts have stopped falling and should start to rise as oil prices firm.  Moreover, the labor market continues to strengthen.  Voluntary quit rates are rising, the number involuntary terminations keeps falling, and job creation, while slightly down from last year, is strong.  At this rate of improvement, there will be little slack in the labor market a year from now. 
    A definite economic bright spot thus far in 2015 has been housing, and that is due to rising household formation.  After averaging roughly 1.2 million annually from 1983 through 2006, household formation averaged just 600,000 through September 2014.  Since then, it has been rising at an annualized rate of 1.5 million.  Add to this increasing credit availability, and housing starts should reach an annualized average rate of 1.175 million during the second half of 2015, with new single-family construction contributing at a pace of 775,000 units and multifamily adding 400,000.  Despite being severely constrained by a lack of inventory, pending home sales are strengthening and existing home sales should continue rising by 6% annually as should home prices.
   As for inflation, it’s benign but will likely slowly begin creeping up from its current anemic level.  The strong dollar will not strengthen further and oil will not weaken more, thus the trends that have exerted strong deflationary pressures on imports and energy respectively should dissipate.  Moreover, as the unemployment rate falls, labor shortages will become an increasing reality and that will cause wages to rise.  This should help household spending and encourage corporate investment.  However, slowly rising prices and wages, albeit from very low levels, will push the Fed to raise short-term rates late this year, probably in September but possibly in December.  The Fed will then raise rates very slowly thereafter due to weak global growth.  Long-term rates have bottomed and 10-yr Treasuries will end the year at close to 2.6% as the economy strengthens.
   In short, the economy continues to grow modestly.  Short-term rates will start rising in the fall, wages are showing nascent signs of rising, and residential construction activity looks to strengthen as we go into 2016.  Most critically, continued solid job creation will keep the recent rise in household formation up and the likelihood of a recession during the next six months is zero.         

    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.
EPA RENOVATOR REFRESHER CERTIFICATION   
 
NAHB recently updated the information regarding the EPA Renovator extension. The extension does NOT apply to North Carolina. You are required to get your re-certification on or before the due date. Please read this flier if you have additional questions.

LOCAL CLASSES

FTCC
LEAD-BASED PAINT RENOVATION, REPAIR, AND PAINTING COURSE (RRP)

Thursday, June 11
8:00 am-5:00 pm
$100
Call to register: 910-678-8386

This class is offered every two months. This is not the refresher course however, it counts as the refresher course if you need it to but it is 8 hours. There is not a company in Fayetteville offering the refresher course.

Other Areas

PEACH (Renovator Initial & Refresher – English)
Durham, NC 
Class Fees
8 Hour Initial Class $175.00, 8:00 am – 5:00 pm
4 Hour Refresher Class $125.00, 8:00 am – 12:00 pm
Monthly classes are held

The EI Group (Renovator Initial & Refresher – English)
Location changes throughout NC, SC & VA
Class Fees Vary
8 Hour Initial Class, $175-$200
4 Hour Refresher Class, $95-$110

Up Coming

June 9
Membership Committee 
11:30 am
HBAF office

June 11
Board of Directors
9 am
HBAF office

June 16-17
NCHBA Legislative Conference
Raleigh, NC

June 16
8:30 am-3:15 pm
NCHBA committee meetings (Builders First Center)

3:15 pm-5:00 pm 
NCHBA Board of Directors Meeting (Builders First Center)

6:00 pm-8:00 pm 
Legislative Reception with hors d'ouerves and cocktails; free event (NC History Museum)

June 17
9:00 am-12:00 pm
Meet with your Legislators in their offices
CLICK HERE TO REGISTER FOR THE 2ND QUARTER MEETING

NCHBA Stars Awards Call for Entries
Entries are now being accepted for the prestigious STARS Awards program, which recognizes the outstanding professional performance of HBA members throughout the region! Don't miss out as we salute builders, associates, realtors, media and advertising professionals, and many others who shine above the rest.
  
The STARS Awards Gala will be held September 16 in Charlotte as part of the annual 21st Century Building Expo & Conference. This awards program is hosted by the North Carolina Home Builders Association. All NAHB members are eligible to enter.
  
The early bird entry deadline is June 19, 2015 ($100/entry). The final entry deadline is July 8, 2015 ($150/entry). 
 
Membership Recruitment Raffle


Start Recruiting Today!

Raffle Prizes

$600  *  $300  *  $100
 
 


Construction Statistics

Local Stats: April 2015 

Local Stats Residential Trend: April 2015

Absorption Report: April 2015

Commercial Building Permit Index: March 2015

The Market Edge Residential Building Permit Trend: March 2015


NAHB NEWS

Single-Family Starts Weak, Especially in the West 

Builder Confidence Drops Four Points Amid Concerns Over Housing Affordability 

U.S. Household Balance Sheet Continues to Recover in Q3 2018 

Custom Home Building Annual Share 
HBA of Fayetteville
910-826-0648
910-826-0649 fax
www.fayhba.org
admin@fayhba.org

Natalie Fryer, Executive Officer
Pamela Grierson, Communications Manager

NAHB Member Discounts
www.nahb.org/ma
Dues Payments & Lobbying Expense 2015 Disclosure
Dues payments to the Home Builders Association of Fayetteville are not deductible as charitable contributions for federal income tax purposes. However, dues payments may be deductible as an ordinary and necessary business expense, subject to exclusion for lobbying activity. Because a portion of your dues is used for lobbying by NAHB, NCHBA and HBAF, 10% of the total dues, or $ 48.22 is not deductible for income tax purposes for builder and associate members. For affiliate members, 2% of the total dues, or $2.35 is not deductible for income tax purposes. Membership Dues are non-refundable.
Copyright © 2015 HBA of Fayetteville, All rights reserved.


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