Tax Credit Expands Home Buyer, Economic Opportunities
Written on 15 January 2010 by adminThe National Association of Home Builders (NAHB) is spreading the word to consumers about an important new law that extends and expands an attractive tax incentive for potential home buyers. The Worker, Homeownership, and Business Assistance Act of 2009, signed into law by President Obama on Nov. 6, extends the deadline for the first-time home buyer tax credit and gives a larger group of home buyers the chance to take advantage of this government program.
“The tax credit has already proven to be an effective means of boosting economic activity,” said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. “We hope that the government’s action to enhance it will have the intended additional stimulative effect that will help get housing and the economy back on solid ground.”
The new law extends the $8,000 first-time home buyer credit through April 30, 2010, giving buyers who have signed a sales contract by that deadline until June 30 to close their deal. A new credit of up to $6,500 was created for repeat home buyers who buy a principal residence if they have been residing in the home they currently own (or previously owned) for five consecutive years out of the eight years preceding the purchase of the new home.
“It’s not just a first-time buyer tax credit anymore,” Robson said. “Move-up buyers, move-down buyers, and others who have previously owned a home can now qualify as well. In fact, close to 70 percent of all potential home buyers should now qualify for some form of the credit.”
Income limits for eligible buyers have also been increased to allow more consumers to qualify, particularly those in markets with a higher cost of living. Now single taxpayers with incomes up to $125,000 and married couples earning up to $225,000 may be eligible. Partial credits are available to home buyers who earn up to $20,000 more than the limits.
A leading source of consumer information on the tax credit is NAHB’s Web site at www.federalhousingtaxcredit.com, which saw a huge increase in visits in the days after the new law was signed. It provides basic information about the first-time and repeat buyer credits, detailed question and answer sections, and links to additional home-buying resources for consumers.
“NAHB estimates that the 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.
2010 North Carolina Home Builders Educational Foundation Scholarships
Written on 2 February 2009 by adminThe North Carolina Home Builders Educational & Charitable Foundation, Inc. is now accepting nominations and applications for its college scholarships. The foundation awards scholarships based on a combination of need and merit to four-year college students entering their junior or senior year and technical school students entering their second year who have declared their major in a construction related field. Applications are due April 30, 2010. For more information, contact Amy Williams-Vance Granville HBA.
To be eligible a student must meet the following criteria: Applicants must be nominated by a NCHBA member firm. Nominees shall be immediate family members - related by blood, (i.e. children, step-children or grandchildren). Students related by marriage, (ie. son-in-law, daughter-in-law, etc.) shall not be eligible. Immediate family members of any current trustee of the NCHB Educational & Charitable Foundation, Inc. shall not be eligible.
- Awards are for one year, but scholarship winners may submit a renewal application and be considered for renewal if they make satisfactory progress in their studies.
- Only full-time students will be considered. NCHBA defines a full-time student as one taking a minimum of 12 credit hours per semester.
Member Advantage
Written on 9 October 2008 by admin 
As an NAHB benefit, members have access to discounts and savings opportunities offered by many top companies. All programs, rates and prices are subject to change without notic. When making contact, the companies request that callers identify themselves as members of the National Association of Home Builders. More information can be found at www.nahb.org/ma
NAHB Technical Assist Hotline
Written on 9 October 2008 by admin The Technical Assist Hotline is a great resource for questions regarding building products, techniques, technologies, and best practices. NAHB and the NAHB Research Center have teamed up to provide this outstanding free service that is designed to assist NAHB’s builder, remodeler, and 
trade contractor members with hands-on construction issues.
Members can call 888-NAHB-MEM (888-624-2636) 8:00 AM to 5:00 PM Continue »
How to Join the Vance Granville HBA
Written on 9 April 2007 by adminIf you are a contractor, subcontractor or related to the building business, simply download and fill out an application and send it to:
Vance Granville Home Builders Association
P. O. Box 803, Oxford, NC 27565
Note: The application is a large file. Please allow up to 2 minutes for download.
