Over the next few months, as daylight grows scarce, finishing a house becomes a race against the clock.  Time or lack thereof, inclement weather, and below freezing temperatures begin to become a builder’s most loathed adversaries.

Recently, Signature Building Systems has begun to witness a shift in the modular market. I’m referring neither to an increase nor a decline in interest overall, but rather a lateral move. We’re seeing a boost in interest in Cape-Cod style homes – “4-box” Cape-Cod style homes to be more precise.

“Traditional” Cape-cod style homes or “2-box” capes have always been a good seller. A traditional cape is delivered with an “unfinished” attic – this area is then completed by the builder to the customer’s specifications on-site after delivery. In the past, this was the road most traveled. Everyone knew there had to be an alternative, faster way to build a cape and began to search for a better way. With the goal of time savings in mind – the “4-box” cape was born.

A “4-box” cape is delivered with the “attic” completed to the same factory specifications as the first floor of the home. Essentially the factory construction is much like a two-story modular home. This coupled with Signatures standard practice of pre-fitting the boxes in the factory eliminates countless hours of on-site construction. Thus, allowing the home to be completed in a fraction of the time.

Extending the home buyer tax credit and at the same time expanding eligibility to more buyers is critical to helping the housing market recover. At the same time, this action will stimulate job growth and creation. Signature wants to thank the tireless efforts of Chairman Joe Robson at NAHB as well as everyone affiliated with the organization for their tireless efforts. Special appreciation also goes out to law makers responsible for the passage of this legislation including Sen. Johnny Isakson (R-Ga.).

For consumers it means better values when purchasing of a home. When a consumer is sitting on the fence trying to decide these credits can act as a significant catalyst.

The net effect to consumers is much more than $8000.00 and $6500.00. Consider financing $8000.00 for 30 years at a rate of 5%. The monthly savings with interest is $42.95 which translates to a total savings of $15,462.00 over the term of the loan. Financing $6500.00 at the same interest and term translates to a saving of $34.89 a month or $12,560.00 over the term. This is significant from any perspective.

Quick Facts:

• $8000 tax credit extended until April 30^th 2009 for first time buyers
• New $6500 tax credit for repeat home buyers effective till April 30^th 2009
• To qualify for either scenario buyers have till June 30^th 2009 to close
• Income limits for both categories include higher income limits. For individuals the amount is $125,000 and $225,000 for couples
• Repeat buyers must be moving up from a primary residence they lived in for 5 consecutive years out of the last 8 years. In order to qualify, repeat buyers need not move up in price.

Builders can send consumers to this page or www.FederalHousingTaxCredit.com

Signature Building Systems received a national home building accolade, capturing the Modular Home 2301-4000 square feet award in the 2010 BSC Excellence in Home Design and Marketing Awards program. The honor was awarded by the Building Systems Councils (BSC) of the National Association of Home Builders (NAHB)—a trade association that represents the concrete, log, modular, and panelized building system industries—at their annual awards program October 25, 2009.

Sponsored by the NAHB Building Systems Councils, the BSC Excellence in Marketing and Home Design Awards has promoted excellence in the systems-built housing industry for more than ten years. All winners were announced at an awards luncheon in Marco Island, Fla., held in conjunction with the BSC SHOWCASE event—the leading trade show and conference centered on the systems-built housing industry. Home manufacturers, builders and industry associates were among the groups recognized. Learn More >

WASHINGTON, Oct. 19 – With the expiration date for an important home buyer incentive approaching, builder confidence in the market for newly built, single-family homes slipped one point to 18 in October, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI).

“It comes as no surprise that after trending upward from an historic low in January, the HMI’s positive momentum now appears to have stalled,” said Joe Robson, chairman of the National Association of Home Builders (NAHB) and a home builder from Tulsa, Okla. “Our economists have repeatedly warned that the approaching expiration of the $8,000 home buyer tax credit on Nov. 30, combined with the massive hurdles that builders face in obtaining construction financing and appropriate appraisals on new homes, could derail the fragile recovery in housing just as it is starting to take shape.

“Congressional action to expand the tax credit and extend it for one year would provide a critically needed boost to the employment market and economy, generating nearly 350,000 jobs, $28.2 billion in wages, salaries and business income and $11.6 billion in additional tax revenues. That’s an opportunity we can’t afford to pass up at this difficult time.”

“This is the first time since November of 2008 that all three component indexes of the HMI have declined,” noted NAHB Chief Economist David Crowe. “Clearly, builders are experiencing the effects of the expiring tax credit on their sales activity, since it would be virtually impossible at this point to complete a new home sale in time to take advantage of that buyer incentive before Nov. 30.”

On the flip side of the coin, Crowe noted that immediate congressional action to extend the tax credit and expand its eligibility beyond first-time buyers could substantially boost sales activity. “In a special questions section of our HMI survey, 85 percent of respondents said that expansion of the tax credit would have a positive impact on their sales,” he said. “That would amount to a very effective stimulus to housing demand and a needed boost to the overall economy.”

Derived from a monthly survey that NAHB has been conducting for more than 20 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 sales conditions as good than poor.

Each of the HMI’s component indexes recorded declines in October. The component gauging current sales conditions fell one point to 17, while the component gauging sales expectations for the next six months declined two points to 27 and the component gauging traffic of prospective buyers fell three points to 14.

On a regional basis, the Northeast was the only part of the country to record an improvement in its HMI score, with a one-point gain to 25. Meanwhile, the Midwest and South each recorded one-point declines to 18 and the West recorded a four-point decline to 14.

####

EDITOR’S NOTE: The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public. HMI tables can be accessed online at: www.nahb.org/hmi. More information on housing statistics is also available at: www.housingeconomics.com.

ABOUT NAHB: The National Association of Home Builders is a Washington, D.C.-based trade association representing more than 200,000 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. Known as “the voice of the housing industry,” NAHB is affiliated with more than 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 2009.

On September 17, 2009, a group of business people in Phoenix, AZ declared the economic recession to be over.  We’d like to take that one step further.

We, the Builders, Realtors and New Home Salespeople of America are hereby declaring that, as of Thursday, October 8th, 2009 “The Housing Recession” is officially over.  The media critics and the forecasters of doom have been silenced, and one single fact has emerged crystal clear – there has never been a better time to buy a new home or existing home, than right now!

Let’s say goodbye to what has been the longest recession since the Great Depression.

I received this in my e-mail today and could not wait to get it out.  The statement is about more than just housing, it’s about attitude. It is about “We the People”, not Congress saving the people, not another “I” speech lecturing us on how we need the government to survive. It’s a statement that reminds us that it is about all of us taking a stand, united towards one common goal, the realization of “The American Dream”. It is ours to protect, ours to achieve and ours pass on.   Let’s spread the word!

Charlie Kasko