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Home    Education    Legislative    Publications    Calendar    Sunbelt Builders Show    Resources Oct. 10, 2013

TAB News Briefs
Oct. 10, 2013
TAB Quick Links >    Home     Education     Legislative     Publications     Calendar     Sunbelt Builders Show     Resources

Housing boom bigger in Texas as home bidding wars erupt
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Texas, known for its open spaces and cheap property, is experiencing the types of real estate bidding frenzies seen in tightly built markets from New York to San Francisco as job gains generate a suburban land rush. Existing-home prices in Dallas and Houston are rising faster than at any time since the oil boom of the 1980s. Home builders, caught off guard by the ferocity of buyer demand, are exhausting construction-ready lots as they struggle to recruit workers to complete houses quickly. More

Summary: The effects of the federal shutdown on housing
National Association of Home Builders    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The ongoing shutdown of certain federal government functions will affect housing and residential builders. In most cases, the short-run impacts will be minor. A long-term shutdown, lasting several weeks or a month or more, could have significant impacts on mortgage accessibility and reduce housing demand. Over the coming weeks, the shutdown could merge with the issue of raising the debt ceiling, which could have very significant impacts on interest rates, as well as monetary and fiscal policy. More

Texas drops 2 spots in national business tax ranking
The Texas Tribune    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Texas has the 11th-best business tax climate in the country, according to the latest version of a widely cited national report. It's the first time Texas didn't make it into the top 10 of the Tax Foundation’s annual State Business Tax Climate Index. Texas had ranked ninth among all 50 states in the last two years. More


President ready to nominate Janet Yellen as Fed Chair
HousingWire    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The president has reportedly selected his nominee to replace outgoing Federal Reserve Chairman Ben Bernanke, and his official pick is Janet Yellen, according to members of the Senate Banking Committee. Yellen, already vice chair of the Federal Reserve Board of Governors, took over as the official "Fed Chair nominee," creating some certainty for a stock market that has been on shaky ground since the start of the government shutdown. More

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No water, no growth: Leaders push Proposition 6 as an economic issue
San Antonio Express-News (Subscription may be required)    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gov. Rick Perry, House Speaker Joe Straus and lawmakers from both major politcal parties joined in promoting a water plan on the Nov. 5 ballot, saying voters have Texas' economic well-being in their hands. More

Why our state needs Proposition 6
The Daily Tribune via Water Texas PAC    Share    Share on FacebookTwitterShare on LinkedinE-mail article
What is the one thing that every living thing needs? Of course the answer is water. Texas is a fast growing state, and unfortunately we have been a dryer than normal state for quite some time. Because of that, we are beginning to see firsthand what the future might be like without the water resources available to meet our needs. More

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Dallas-Fort Worth new-home supply at 20-year low
The Dallas Morning News (Subscription may be required)    Share    Share on FacebookTwitterShare on LinkedinE-mail article
There were 2,423 completed, empty new houses in the Dallas-Fort Worth area in the third quarter. An analyst said about 5,000 would be expected. The number of finished new homes available in North Texas has dropped to a 20-year low. There were only 2,423 completed, empty new houses in the Dallas-Fort Worth area in the third quarter, according to a new report by Metrostudy Inc. More

Special report: US builders hoard mineral rights under new homes
Reuters    Share    Share on FacebookTwitterShare on LinkedinE-mail article
In golf clubs, gated communities and other housing developments across the United States, tens of thousands of families have moved into new homes where their developers or home builders, with little or no prior disclosure, kept all the underlying mineral rights for themselves, a Reuters review of county property records in 25 states shows. In dozens of cases, the buyers were in the dark. More

Fewer US homes entered foreclosure track in 3rd quarter
The Associated Press via Houston Chronicle    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The number of U.S. homes set on the path to foreclosure slid to a seven-year low in the third quarter, reflecting a gradually improving housing market and fewer homeowners falling behind on mortgage payments. Lenders initiated foreclosure action on 174,366 homes in the July-September period, the lowest level since the second quarter of 2006, foreclosure listing firm RealtyTrac Inc. said. More

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Houston home builders continue to grow
Houston Business Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
As Houston home builders rush to meet demand, that increased activity is reflected in their local gross revenue. Miami-based Lennar Homes/Village Builders tops the Houston Business Journal's "Largest Houston-Area Homebuilders" list with $472.1 million in local gross revenue. Lennar improved its ranking from No. 3 last year. More

Dallas one of the top US markets for million-dollar mansions
Dallas Business Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Dallas is one of the top markets in the U.S. for million-dollar mansions based on homes sales and listings. The city had 434 million-dollar home listings in the past 12 months, as well as 518 million-dollar luxury home sales, according to the 2013 Luxury Market Report by Coldwell Banker Previews International and Luxury Institute LLC, which surveyed affluent Americans on home buying trends. More

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Home prices and builder confidence are rising
The Motley Fool    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Home prices continued their year-long advance according to the S&P/Case Schiller Home Price Indices. And the National Association of Home Builders recently announced that builder confidence continues to climb. This is good news for investors in the home builder sector. More

Home builders rise from solid foundations
MarketWatch    Share    Share on FacebookTwitterShare on LinkedinE-mail article
The housing recovery may be a topic up for debate, but one thing that's undeniable is the recovery that's getting underway in the share prices of home building stocks. It's still early in the upturn, which means there's still room for them to run. Following nearly three-month corrections from their spring highs to their late summer lows, many among the group have started to bounce back from declines ranging from 30 percent - 40 percent. Those are substantial declines, but the price action has been confirming bullish changes of character in recent weeks. That could bode well for a continued advance in the weeks and months to come. More

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Custom home builders are subject to Section 263A and a primer on the UNICAP rules
Forbes    Share    Share on FacebookTwitterShare on LinkedinE-mail article
In Frontier Custom Builders, Inc. v. Commissioner, T.C. Memo 2013-231 (2013), the taxpayer (Frontier) was a builder of custom and speculative homes. On its 2005 tax return, Frontier capitalized direct material and labor costs into the cost of its homes, but failed to otherwise account for Section 263A. What's Section 263A, you ask? Section 263A — or as it's also known, "UNICAP," for uniform capitalization rules — is an oft-misunderstood and even more frequently misapplied area of the law; in general terms, it requires that taxpayers who produce property capitalize not only their direct material and labor costs, but also any indirect costs of production. More

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A lonely housing bear predicts a big tumble
Bloomberg    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Talk to Mark Hanson about the housing market for five minutes and you may find yourself wanting to sell your home and park the cash in a suitcase. The Menlo Park, Calif., real estate analyst, blogger and founder of consultancy Hanson Advisers predicts a decline of 20 percent in housing prices in the next 12 months. Half the gains since the latest housing bottom in 2011 could be erased in the hot areas — Florida, California, Nevada, Arizona and Georgia — by rising interest rates and a thinner herd of speculative private-equity buyers, he says. More
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