Montgomery Remodeler Wins Best in Show at Alabama Remodeling Excellence Awards Banquet

March 19, 2011 - Kimbro Renovations, Inc., a member of the Greater Montgomery Home Builders Association, took home the top prize of Best in Show at the 2011 Alabama Remodeling Excellence Awards banquet held on March 19, 2011 at the Marriott Legends at Capitol Hill in Prattville.

The Best in Show award is presented to the project that has the highest score among all entries in all categories. Kimbro Renovations earned the top score with its first place finish in the category of Kitchen Remodel Over $80,000 for the Hudson kitchen remodel.

The Alabama Remodeling Excellence Awards, presented by the Home Builders Association of Alabama, were given to remodelers, contractors, kitchen and bath designers, and other building professionals who exhibited outstanding craftsmanship and attention to detail in projects throughout Alabama. This year’s awards were sponsored by Alabama Power Company, the Alabama Home Builders Self Insurers Fund, James Hardie, and J.F. Day/Pella.

For more information about the Alabama Remodeling Excellence Awards, contact the Home Builders Association of Alabama, at (800) 745-4222 or visit www.remodelalabama.com.

FDIC Hotline Lets Builders Voice Concerns on Credit Availability

January 24, 2011 - To help small business firms address their difficulties in obtaining credit, the Federal Deposit Insurance Corp. (FDIC) has announced the creation of a new hotline and website that enable small business owners – including builders – to register specific issues or problems they may be having with credit availability.

The hotline is an opportunity for HBAA members to weigh in directly with the FDIC to discuss any business constraints they are facing due to the scarcity of credit for housing.

Members can call 866-924-NAHB (866-924-6242), which will patch them through to the FDIC's hotline, where they can discuss their specific situation. Callers should be aware that they will be talking to a live FDIC representative, so they should have all relevant information at hand. Operating hours are 8 a.m. to 8 p.m., EST, Monday through Friday.

They can also provide more details by accessing the dedicated FDIC website at www.fdic.gov/smallbusiness and using the Business Assistance Form at the bottom of the page. This allows them to fill in information and provide details about lending or credit problems they are having with a specific bank or lending institution.

NAHB Chairman Bob Nielsen sent a letter to all NAHB members this week alerting them to this great opportunity to help expand regulators' awareness of the extent of the credit crunch for small home builders. Any home builder, developer or associate who is unable to obtain financing, is having a hard time with an outstanding AD&C loan or feels that they have been treated unfairly by their lending institution should alert the FDIC either through the hotline or the FDIC website.

Montgomery Area Remodeler Wins Alabama Remodeling Excellence Award

March 21, 2010 - Lisenby Construction, Inc., a member of the Greater Montgomery Home Builders Association, was honored at the Alabama Remodeling Excellence Awards banquet held on March 20, 2010 at the Marriott Legends at Capitol Hill in Prattville.

The company won first place in the category of Universal Design for its Mossy Oak master bath remodel.

The Alabama Remodeling Excellence Awards were presented by the Home Builders Association of Alabama. The awards were given to remodelers, contractors, kitchen and bath designers, and other building professionals who exhibited outstanding craftsmanship and attention to detail in projects throughout Alabama. This year’s awards were sponsored by Alabama Power Company, the Alabama Home Builders Self Insurers Fund, and J.F. Day/Pella.

For more information about the Alabama Remodeling Excellence Awards, contact the Home Builders Association of Alabama, at (800) 745-4222 or visit www.remodelalabama.com.

Builders Applaud Congress on Extending Home Buyer Tax Credit

November 5, 2009 - The National Association of Home Builders (NAHB) today applauded Congress for passing legislation that will extend and expand the $8,000 first-time home buyer tax credit, stating that this will provide a much-needed boost to the fragile housing market and economy.

“We commend lawmakers for acting in a bipartisan manner to extend the first-time home buyer tax credit beyond its Nov. 30 deadline and expand it to a wider group of home buyers,” said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. “The tax credit has proven to be a powerful economic incentive. Today’s action by Congress will further stabilize housing and the economy by creating new jobs, stimulating home sales, reducing foreclosures, cutting excess inventories and stabilizing home prices.”

The new law will extend the $8,000 credit for first-time home buyers for sales contracts entered into by April 30, 2010 and closed by June 30. Further, it has been expanded to include a new $6,500 credit for owners of existing homes who are purchasing a new principal residence. An existing home owner can claim the $6,500 tax credit if they have been residing in their principal residence for five consecutive years out of the last eight. Additionally, the income eligibility limits to claim the full credit amount for both groups of home buyers have been raised to $125,000 for individuals and $225,000 for married couples.

NAHB estimates that the extended and expanded home buyer tax credit will create 211,000 jobs and generate 180,000 additional home sales in the coming year. It is also expected to generate $9.6 billion in wage income and $6.9 billion in federal, state and local taxes.

The legislation, which also extends unemployment insurance benefits and offers relief to cash-strapped firms by providing broader tax benefits for businesses with net operating losses (NOLs), is expected to be signed into law shortly by President Obama.

“The new NOL rules will throw a lifeline to struggling businesses, allowing them to continue making payrolls, paying business loans and otherwise keep their doors open until the economic recovery takes hold,” said Robson.