IBS Speakers Say Florida Real Estate Recovery Likely Will Be Slower Than Rest of U.S.
Orlando, Fla.–Although U.S. real estate might bottom out this year, the Florida housing market will most likely take longer to rebound, according to economists who spoke Wednesday at the International Builders’ Show in Orlando, Fla.Although some states–such as North Carolina–are doing much better than the rest of the country’s real estate markets, Florida is currently undergoing a sharp price correction from the high home prices and sales it experienced during the housing boom, the Palm Beach Post reports.Cities in Florida, California, Ohio and Michigan comprised three-quarters of the 20 U.S. metropolitan areas with the greatest number of foreclosures last year,…
NAHB Green Building Standard Announced at International Builders’ Show
Orlando, Fla.–Emphasizing green building’s marketability and upbeat consumer message, the National Association of Home Builders announced its National Green Building Program on Thursday, which had been designated as Green Day at the International Builders’ Show in Orlando, Fla.”This is a historic day for our association,” said Bob Jones, an NAHB vice president and a builder in Bloomfield Hills, Mich. “This program allows all home builders to build green in a cost-effective way. Builders and consumers can select the green features that make the most sense for them.”Homes will be tested and scored by a national network of verification experts–whom the…
International Builders’ Show Attendance May Not Show Large Decline
Orlando, Fla.–Despite a nationwide housing slump, attendance at the International Builders’ show in Orlando, Fla. may only be down 5 percent, the Orlando Sentinel reports.Paul Lopez, a spokesman for the show’s annual host, the National Association of Home Builders, said registration was strong on the show’s opening day, prompting the organizers to decrease their previous attendance assessment, which indicated turnout may have dropped 9 percent.”We would be ecstatic if it’s only down 5 percent,” Lopez said.Jessie Allen, general manager of the Orange County Convention Center, said the center was busy during the show. “Obviously, there was a number of folks…
YapStone Clients to be Eligible for MasterCard’s New Payment Processing Rate
By Anuradha Kher, Online News EditorSan Francisco–Till recently, credit card usage has been limited in the multifamily market primarily because of perceived high costs to either property managers or renters. But with MasterCard’s new lower rates for payment processing of rent and rent-related fees, companies like YapStone, an electronic payments processor, could see a rise in number of clients.Beginning April 2008, property management and real estate companies that utilize YapStone’s processing platform, including RentPayment, will be eligible for MasterCard’s new processing rate.“Since 1999, YapStone has been committed to electronic payments for the real estate industry, and MasterCard’s new processing rate…
DEAL OF THE DAY: Johnson Capital Provides $135M in Financing Using New Freddie Mac Mortgage Product
By Anuradha Kher, Online News EditorNorwood, Mass.–Johnson Capital, one of Freddie Mac’s first Seller/Servicers to do so, is using the Freddie Mac Acquisition Rehabilitation MortgageSM product to provide $135 million in financing, for the rehabilitation of the 914-unit Windsor Gardens Apartments in Norwood, Mass.The borrower is using Freddie Mac’s Early Rate-Lock delivery option, choosing to wait 90 days after rate-lock until Freddie Mac’s purchase of the loan.The borrower proposes to make several improvements to Windsor Gardens, including adding washing machines and dryers to the garden-style units, new countertops, cabinet faces and knobs, tubs, shower surrounds, toilets, ceramic flooring, lighting, plumbing…
The New American Home Celebrates 25th Anniversary at IBS
By Anuradha Kher, Online News EditorOrlando, Fla.–The New American Home, a ‘real-world’ laboratory demonstrating concepts, materials, designs and construction techniques that can be replicated, celebrated its 25th anniversary at the International Builders’ Show this year.People attending the show received a tour of the New American Home, a 6,725-sq.-ft, plantation-style house located in the prestigious Waters Edge subdivision, a gated, 11-lot development in a private golf and country club community along the banks of Orlando’s Lake Nona.The latest in interior design, green features, energy efficiency and cutting-edge technology is on display this year at the New American Home.Some of the green…
From the International Builders’ Show: Product Debuts
Orlando,Fla,–The Turbochef 30-inch Double Wall Speedcook Oven from TurboChef Technologies, the McKinley Collection from Shenandoah Cabinetry featuring a range of kitchen cabinetry styles and the Silestone MURO from Cosentino North America, an eco-friendly line of tumbled mosaic backsplashes are the products that caught our attention at the International Builders’ Show.TurboChef TechnologiesThe Turbochef 30-inch Double Wall Speedcook Oven from TurboChef Technologies features the company’s restaurant-proven technology that has been adapted to suit the needs of home cooking. The TurboChef oven cooks meals up to 15 times faster than conventional methods.What makes it faster is the TurboChef Airspeed technology in which the…
SPECIAL REPORT: Designers Dish on Hot Kitchen Trends at Builders Show
By Teresa O’Dea Hein, Managing EditorOrlando, Fla.–With kitchens more open to other living spaces, there is a trend to darker, richer wood tones for cabinetry, reported Connie Edwards (pictured), CKD, CBD, and director of design for Timberlake Cabinetry, during a seminar here at Orlando’s Orange County Convention Center as part of the multi-faceted 64th annual International Builders Show (IBS), sponsored by the National Association of Home Builders.”Maple is still far and away the most popular wood species for kitchen cabinets, while oak continues to decline and cherry gives oak a run for its money,” Edwards told the nearly 200 attendees…
NAHB Economist Predicts Home Prices Will Help Spur Demand
Orlando, Fla.– Economists cautioned Wednesday at the International Builders’ Show in Orlando, Fla., that the nationwide drop in residential building would continue through early 2009–but said that lower home prices would help correct the current U.S. housing decline, the Orlando Sentinel reports.National Association of Home Builders chief economist David Seiders told members of the media attending the conference that single-family home starts could decline another 27 percent in 2008. Although Seiders said lower home prices can cause money crunch fears and threaten consumer spending, he called the home price decline “part of the solution.”Seiders said the reduced prices would spur…
Survey Released at IBS Shows Buyers Want Energy Savings, Versatile Room Design
Orlando, Fla.–Homebuyers are prioritizing energy-efficient designs, outdoor areas and flexible floor plans in subdivisions, according to two consumer preference surveys released Wednesday at the International Builders’ Show in Orlando, Fla.Consumers surveyed by the National Association of Home Builders last year indicated that they no longer are in the market for huge homes and said the top two things they looked for in a new home were multi-use living spaces and energy efficiency, MarketWatch reports.Other features–including solid insulation, Energy Star-rated windows and ceiling fans–made the list of top 10 desired home amenities.NAHB staff vice president of research Gopal Ahluwalia said that…