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EL PASO
National, State & Local Building Industry News 2017: Issue 5
BUILDERS A S S O C I AT I O N O F
Mortgage experts discuss what’s next in 2017 Is a recession on the horizon?
On the third day of Mortgage Bankers Association National Secondary Market Conference and Expo in New York City, three economists took the stage to explain their view of the housing market, and their forecast for 2017. Freddie Mac Chief Economist Sean Becketti, Fannie Mae Chief Economist Doug Duncan and MBA Chief Economist Mike Fratantoni gave their projections over the chance of a recession within the next 12 months.said MacDonald. Becketti emphasized that while the chance of a recession increased, it would need to be driven by a specific event. “Recessions are event driven, the economy doesn’t just run out of gas and slow down,” Becketti said. Fratantoni predicted a 15% to 20% chance of a recession over the next 12 months, while Duncan pushed it to a 30% chance. He listed several factors including a peak in consumer credit card usage, auto sales and corporate debt, which could point to a looming recession. The three economists pointed out that while employment is rising, there are still gaps in the growth.
What we’ve seen has been a polarization of jobs, Becketti said. Jobs have left the mid-skill level and gone to the high-skill level, and low skill jobs have also seen growth. The reason for this shift is that mid-skilled jobs are easier to automate. But even as jobs polarize, the growth between urban and suburban areas leveled out, becoming more equally distributed between the two areas, Duncan said. However, this leveling out in the location of jobs is creating more problems in the housing market. “But now urban areas are the most difficult area to build entry-level housing due to cost of land,” he said. As the year goes on, Fratantoni predicted the market will see two more rate hikes – one in June and one in September, saying the year would finish with a 30-year fixed-rate mortgage rate of 4.5%. Becketti predicted slightly more, saying the Federal Open Markets Committee could raise rates from two to three times this year, but said the year will end with a 30-year FRM of about 4.4%. Duncan, who predicted the highest chance of a recession in the next 12 months, agreed the
Fed will raise rates twice more this year, however kept it’s rate for the end of 2017 more conservative at 4.2%. “We’re not convinced that inflationary pressures are enough to make the Fed more aggressive,” he said. But for now, the housing market continues to boom as home prices hit their previous peak nationally, and even significantly surpassed it in some states. All three economists were puzzled by the substantial increase in Texas, saying they could only venture to guess that while there is plenty of land to spread out in the state, the jobs are more centered, driving home prices up in key areas, such as Dallas. And what about the rumored housing bubble? Fratantoni asked: Is San Francisco in a housing bubble? Becketti’s answer, to put it simply, was no. He answered that the city is subject to a tech collapse, but said it will not collapse on account of affordability.
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Builders Outlook
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2017 Issue 5
2017 Issue 5
President’s Message
Understanding how EPAB affects legislation and how that affects your business
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Builders Outlook Don Rassette
President, El Paso Association of Builders
The current session of the Texas Legislature has now wrapped up the 85th Session. TAB has been very involved for and against bills which affect our membership. The topics covered are: A) Prohibiting cities from imposing “Linkage Fees” on any new construction or remodel in Texas, B) Requiring cities to grant tree mitigation fee credits back to builders/developer/property owner for all trees planted by the property owner on site or on property mutually agreed to by the owner and the city, C) Authorization of public schools to purchase additional insurance for students participating in career and technology programs off campus (i.e. construction sites), D) Authorization of property owners to seek attorney’s fees and costs when challenging a local government that has violated your vested property rights, E) Amends the TREC seller’s disclosure to state that certain property located near a military installation could be affected by high noise or air installation compatible use zones,
F) Clarification of building code requirements in the unincorporated areas of the state. Maintains buildercontrolled 3rd party inspections and prohibits the creation or expansion of county building/inspection departments for building code compliance or enforcement. The above is a summation of these 6 bills, in which TAB has been very involved. For those, like me, who were wondering, this is from more than 6,000 pieces of legislation filed. For detailed information on what the bills contain and their status, please contact TAB or visit their website. As always, I question how each one of these bills will affect what we do in El Paso. Just the first bill on linkage fees, if not passed, could allow/empower the City of El Paso to attach fees for permits. In many places, this fee or tax adds thousands of dollars to the cost of construction. In most instances, we pass the costs onto the consumer. This is OK, if you can still sell your product and be competitive in the marketplace. Now add increases in mortgage rates, labor shortages and rising labor costs, materials shortages and increased
material costs, lot shortages or higher lot costs, entity delays to permitting and development and you see why my April article was on; “It’s easy to be a homebuilder”. Right? Again, the question is asked “Why should my company join the El Paso Association of Builders? What is in it for me or my company? Well, review the above legislation in the State Legislature and how it affects your company and yourself. Could you fight some of these organizations, associations and their lobbyists on your own? How much time, effort and your own money would it take? Would you be able to have time to concentrate on your primary business focus and other concerns important to you? Probably not. Remember NAHB and TAB exist to defend, improve and battle for our industry, because of local building associations, like EPAB, around the country! Remember EPAB fights the local battles for our industry. LET’S PREPARE TO SUCCEED
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Executive’s Message Ray Adauto, Executive Vice President EPAB
This year the Association has been deeply involved in the legislative process in Austin as the every other year session has been played out. For those of us that have been to the Capital during these sessions are generally amazed that anything gets done with one group going after another every day. This year the action between legislatures, that is Senate versus House, was contentious as was that between the Lt. Governor and the Speaker of the House. In this case neither like the other much and that spilled onto the floor and into the news. Our lobby team has to walk that razor’s edge and to seek commonality from all sides in order to get our legislative agenda accomplished. It will be unknown whether the spats will cause the legislative session to go into the summer. Don’t hold your breath. How is it that I’ve registered the office phone and my cell phone on the federal “do not call” list yet we get an embarrassingly large number of calls every day. While I wrote this I’ve had those annoying calls on both devices. I hope the folks at the FCC can come up with a real solution because I’m about to go ballistic again, or worse I just
Builders Outlook
2017 Issue 5
Legislation and local elections won’t answer the phone with any calls originating supposedly from Anthony, Canutillo or Tornillo. Those appear to be the phone numbers those scoundrels are using the most. I end up hitting the number 9, pound key, and zero over and over but not sure that tactic works. I had the opportunity to visit with several candidates that are running or have reached their term limits. I want to say thank you to those that won’t be returning to City Council, especially our Mayor Oscar Leeser. The Mayor decided not to seek a second term and that surprising move allowed several to run to replace him. The many turned into two with former State Rep Dee Margo, and former member, is in a runoff with newbie David Saucedo. While both have a very different background I give them credit for putting themselves and their families into the race. A couple of big supporters of the industry city councilors Carl Robinson and Emma Acosta are termed out and leave behind open seats. Representative Lili Limon lost her race to retain the seat while Cortney Niland gave up her seat setting the run for the seat to five members of the community. That race will be decided on June 10, the same day as runoffs for Mayor, District 2 , 3, and 4. If you live in those districts please inform yourself and go vote. We will have to live with them for at least four years, might as well get it right.
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National Builder News
2017 Issue 5
New Home Sales Slip
n Sales of newly built, single-family homes in April dropped for the first time in 2017, falling 11.4 percent to a seasonally adjusted annual rate of 569,000 units, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Sales numbers for the first three months of the year were all upwardly revised, and the March sales pace was the highest since October 2007. “Despite some slowness this month, total new home sales in 2017 are up more than 11 percent from this time last year and builders are optimistic about future market conditions,” said Granger MacDonald, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Kerrville, Texas. “We should see further gains in the months ahead as more prospective home buyers enter the market.” “New home sales were strong in the first three months of 2017, so some pullback in April is to be expected,” said NAHB Chief Economist Robert Dietz. “However, our forecast calls for new home sales to increase throughout the year, buoyed by rising household formations, continued job growth and tight existing home inventory.” The inventory of new home sales for sale was 268,000 in April, which is a 5.7-month supply at the current sales pace. The median sales price of new houses sold was $309,200. Regionally, new home sales decreased 4.0 percent in the South, 7.5 percent in the Northeast, 13.1 percent in the Midwest and 26.3 percent in the West.
Builder Confidence Continues Upward
n In a further sign that the housing market continues to strengthen, builder confidence in the market for newly-built single-family homes rose two points in May to a level of 70 on the National Association of Home Builders/Wells
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Fargo Housing Market Index (HMI). This is the second highest HMI reading since the downturn. “This report shows that builders’ optimism in the housing market is solidifying, even as they deal with higher building material costs and shortages of lots and labor,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas.
“The HMI measure of future sales conditions reached its highest level since June 2005, a sign of growing consumer confidence in the new home market,” said NAHB Chief Economist Robert Dietz. “Especially as existing home inventory remains tight, we can expect increased demand for new construction moving forward.” Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current singlefamily 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 conditions as good than poor. Two of the three HMI components registered gains in May. The index charting sales expectations in the next six months jumped four points to 79 while the index gauging current sales conditions increased two points to
BUILDING
76. Meanwhile, the component measuring buyer traffic edged one point down to 51. The three-month moving averages for HMI scores posted gains in three out of the four regions. The Northeast and South each registered three-point gains to 49 and 71, respectively, while the West rose one point to 78. The Midwest was unchanged at 68.
Housing Affordability Registers Slight Uptick
n Rising wages and moderating home prices offset a rise in mortgage interest rates to give housing affordability a slight boost in the first quarter of 2017, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released today. “Builders are reporting confidence and solid traffic in many markets across the nation even as they continue to grapple with nagging headwinds,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. “Regulatory constraints, trade barriers on Canadian softwood lumber, and persistent shortages of lots and labor are slowing the pace of the housing recovery.” “Ongoing job growth continues to fuel demand for housing, while wage growth is helping to offset the effects of rising mortgage rates and keep home prices affordable,” said NAHB Chief Economist Robert Dietz. “NAHB anticipates that housing will continue on a gradual, upward path throughout the year.” In all, 60.3 percent of new and existing homes sold between the beginning of January and end of March were affordable to families earning the U.S. median income of $68,000. This is up from the 59.9 percent of homes sold that were affordable to median-income earners in the fourth quarter. The national median home price fell to $245,000 in the first quarter from $250,000 in the final quarter of 2016. Meanwhile, average mortgage rates rose nearly half a point from 3.84 percent in the fourth quarter to 4.33
El Pa aso
percent in the first quarter. For the second straight quarter, YoungstownWarren-Boardman, Ohio-Pa., was rated the nation’s most affordable major housing market. There, 92.7 percent of all new and existing homes sold in the first quarter were affordable to families earning the area’s median income of $54,600. Meanwhile, Kokomo, Ind., was rated the nation’s most affordable smaller market, with 96.3 percent of homes sold in the first quarter being affordable to families earning the median income of $62,500. Rounding out the top five affordable major housing markets in respective order were Elgin, Ill.; Scranton-Wilkes Barre-Hazleton, Pa.; Buffalo-Cheektowaga-Niagara Falls, N.Y.; and Syracuse, N.Y. Smaller markets joining Kokomo at the top of the list included Glen Falls, N.Y.; East Stroudsburg, Pa.; Binghamton, N.Y.; and Lansing-East Lansing, Mich. For the 18th consecutive quarter, San Francisco-Redwood City-South San Francisco, Calif., was the nation’s least affordable major housing market. There, just 11.8 percent of homes sold in the first quarter were affordable to families earning the area’s median income of $108,400. Other major metros at the bottom of the affordability chart were located in California. In descending order, they included Los AngelesLong Beach-Glendale; Anaheim-Santa AnaIrvine; San Diego-Carlsbad; and San JoseSunnyvale-Santa Clara (tied with San Diego). All five least affordable small housing markets were also in California. At the very bottom of the affordability chart was Salinas, where 13.8 percent of all new and existing homes sold were affordable to families earning the area’s median income of $63,100.\ In descending order, other small markets at the lowest end of the affordability scale included Santa Cruz-Watsonville; Napa; San Luis Obispo-Paso Robles-Arroyo Grande; and San Rafael.
SINCE 1950
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Expert Analysis Elliot Eisenberg Economic & Policy Blog
Over the past year, there has been considerable talk about GDP growth and the desire to raise it. While higher GDP growth is clearly good, getting there will be tough. Since the end of the Great Recession, the US has been averaging chronically weak GDP growth of 2.1%/year. By contrast, from late 1991 through the onset of the Great Recession in mid-2008, GDP growth averaged a reasonably robust 3.1%/year; 50% higher, a huge difference. While there are many explanations for the slowdown, the core reason comes down to three specific ways that people impact GDP growth. Firstly, growth in the overall population generally leads to more people working, which grows the economy. Secondly, a greater share of the existing population can be employed, which also increases our economic output. And thirdly, those who are working can perform better -and that rise in worker productivity also increases GDP. Regrettably, on all these fronts, the US has been struggling. On the population front, the news is not good. In the early 1990s, population growth was a reasonably strong 1.3%/year. While the rate generally declined over the next two decades, it
Builders Outlook
2017 Issue 5
People Problems was still 1%/year when the Great Recession began. By the end of the recession, however, population growth had slowed to 0.85%, and today, it’s just 0.7%/year. Worse, the Census Bureau projects population growth to be just 0.2%/year by 2026, and that assumes net immigration of 1.3 million/year through the coming decade. And, under those assumptions, GDP growth in 2026 will probably be only 1.5%/year, down from the weak 2.1% of today. As for the percentage of the population in the labor force, it’s unfortunately declining. After peaking at 67.3% during the latter years of the Clinton administration, the civilian labor force participation rate steadily declined through the end of 2015, bottoming out at 62.4%. Since then, it has risen slightly and now stands at 63%. However, because of the damage caused by the recent financial crisis and aging of the population, it is, at best, expected to remain where it is, although a small decline is entirely possible. Were the labor force participation rate to reverse course and return to 67.3% over the next decade and a half, by 2032, about seven million extra people would be employed, and GDP growth during
As for the percentage of the population in the labor force, it’s unfortunately declining.
that 15-year period would be a quarterof-one percent/year higher than otherwise. As to the third concern, labor productivity growth has been poor for quite some time. Since the end of the recession, productivity gains have averaged about 0.75%/year. By contrast, between 1990 and 2007, labor
productivity averaged 2.4% annually. While 1990-2007 were good years for labor productivity growth, never has there been such a long period of time with such anemic productivity growth as we are now experiencing. The closest we came is the 1973 – 1979 period when labor productivity growth averaged 1.3%/year. Since every 1% increase in productivity boosts both GDP and per capita income by an equal amount, productivity increases are particularly beneficial. While higher GDP growth is unambiguously good, achieving it will be devilishly difficult given our poor demographics and the productivity slowdown. Solutions include increased immigration, improved vocational training, and lower marginal tax rates on both labor and capital. More immigration and lower tax rates on labor should increase the size of the labor force, while improved vocational training and lower taxes on capital can be expected to increase labor productivity. If it were up to me, all these solutions would be employed.
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2017 Issue 5
Builders Outlook
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Builders Outlook: On the Scene May Board Meeting The May board meeting was held on May 10 at the EPAB offices. This meeting gave the board an opportunity to hear the results of our various events including the Pachanga Golf Tournament and the watcha throw. The report on the golf event showed that once again the members and friends came out and had a great time. The presenting sponsor was Haskins Electric. The watcha throw featured 21 teams that came out to the parking lot event. Fun was had by all. Ray also gave a report from an Area V Texas Association of Builders meeting that was held in Lubbock. The meeting centered on the activities associations are doing, how they do them and what results are being reported. More than the regular activities like the golf or watcha tournaments associations are still in the hunt for other activities that generate revenue and involve a larger group of members. The Area V meeting was hosted by the West Texas Home Builders Association and they showed off their recently completed and paid for office complex and conference center. Beautiful place in a new development of Lubbock. Don Rassette congratulated Ray on his recent induction into the El Paso Athletic Hall of Fame and presented him a winter jacket embroidered with the association logo and logo depicting the HOF. The gift was given on behalf of the EPAB. The next board and general meeting is June 14 at the El Paso Marriott located at Airways and Montana with featured speaker John Balliew from the PSB. RSVP to the office for this informative meeting.
Sunbelt Builders Show feature Dallas Cowboys Super Bowl Champion
The Sunbelt Builders Show™ has signed three-time Dallas Cowboys Super Bowl Champion Darren Woodson as the 2017 Opening Session Speaker. The three-time All-Pro and five-time Pro Bowl selection will welcome Sunbelt attendees to the Show on Wednesday, Aug. 2 at 9:30 a.m. inside the Hilton Anatole in Dallas, Texas.
The former Cowboy safety played his entire career in Dallas (1992-2004). He was selected by the organization in the second round of the 1992 National Football League Draft (37th overall). Woodson was a member of all three Cowboys Super Bowl champion teams in the 1990s (Super Bowl’s XXVII, XXVIII and XXX) and became the eighth defensive player inducted into the Ring of Honor.
Woodson was one of the most popular players both inside the locker room and as an ambassador in the community. Upon retirement, Woodson joined ESPN as an NFL analyst. He appears on NFL Live and SportsCenter, as well as other ESPN platforms throughout the year.
Texas Association of Builders 313 E 12th St., Suite 210 Austin, TX 78701 512-476-6346 (office) | 512-476-6427 (fax)
www.sunbeltbuildersshow.com
2017 Issue 5
Preview Party AUGUST 25
AUGUST 25-SEPTEMBER 10
In Horizon Hills • Featuring Homes by:
Carefree Homes Diamond Homes Loyalty Homes Metro Homes Pointe Homes Pacifica Homes Rassette Homes
Call 778-5387 for more information or visit www.facebook.com/El-Paseo-de-Casas
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Kudos
Builders Outlook
Adauto inducted into El Paso Athletic Hall of Fame Ray Adauto, affectionately nicknamed “Uncle Ray” has been inducted into the 2017 class of the El Paso Athletic Hall of Fame. He joins six living and one posthumous awardee that makes up the inductees this year. The selection comes after being nominated by current Hall of Famer James “Flip” Lyle who introduced Ray’s name into consideration and Bob Bowling III. “I have a deep respect for Uncle Ray’s standing in the sports community in El Paso,” Lyle said. “He has been an innovator, a respected sportscaster, a referee, and an outstanding sports announcer for teams like the UTEP Miners, the El Paso Diablos, and most recently for the Pacific Coast Champion Triple AAA team El Paso Chihuahuas,” Mr. Lyle said. Bob Bowling said that he was proud to nominate Uncle Ray and that it was about time. “Ray has been the voice for the Miners for so long and he’s done an outstanding job” Bowling said. “ I’m just really happy that the Hall finally realized he deserved to get inducted,” Mr. Bowling concluded. Ray’s climb to the HOF started with a simple invitation from his youngest daughter’s basketball coach at Hanks High School in El Paso. “The coach needed someone to announce the score, introduce the players… you know announce at the game, so I agreed to do it,” Adauto said. “While at a game the women’s coach from UTEP, Sandra Rushing was scouting a couple of girls. She invited me to do the P A for the UTEP women’s team. At one of those games legendary coach Don Haskins, the only coach to win a Divisions 1 Men’s NCAA Tournament in the state of Texas, asked me to do the UTEP men’s
games. The rest is as they say, history.” During Adauto’s time behind the microphone he has announced boxing, auctions, been a master of ceremony, done voice over work and has continued announcing the WestStar Bank Don Haskins Sun Bowl Tournament. He has done the P A for UTEP coaching greats like Haskins, Billy Gillespie, Doc Sadler and every head men’s coach since, a unique feat that won’t ever be repeated.
Ray has been the Executive Vice President (EO) for the Association for fourteen years. During his acceptance speech Adauto acknowledged the Association for allowing him to do the PA work. “It is sometimes very time consuming and another “job” but the leadership encouraged me to do the announcing saying it was good to be associated with UTEP or the Chihuahuas that way,” Ray said. Several members joined the Adauto family at the induction ceremony held at Sunland Park Casino. Edmundo Dena said he hadn’t realized the variety of sports presented at the award. “I think that this event isn’t given a lot of thought but having gone to it for the first time really brought home what the city has sports wise. I congratulate Ray for his induction but I also congratulate the Hall for recognizing all the students” Dena concluded.
2017 Issue 5
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Tropicana Building Corporation Acquires Apartment Complexes
2017 Issue 5
Tropicana Building Corporation (solely owned by brothers Bobby Bowling IV and Randy Bowling) announces their acquisition of the full interests in 8 apartment complexes in El Paso. The complexes were formerly owned in partnerships with tax credit investors recruited to come to El Paso by The Richman Group (a real estate investment firm based in Greenwich, Connecticut) and Tropicana Building Corporation, who served as the controlling General Partner for each partnership. In January of this year, Tropicana Building Corp. was able to buy-out the interests controlled by the Richman Group, and now Tropicana wholly owns and controls these 532 apartment units. "It was something we worked on for almost a year with Richman," says Bobby Bowling IV, President of Tropicana Building Corp. “Tropicana and Richman remain partners in 16 other apartment complexes in El Paso and surrounding El Paso County areas, where over 2,000 other families reside.” "Peter McHugh with the Richman Group, took the time to get to know me and came to see us in El Paso when I was just 31 and looking to do apartments. Peter and his bosses saw the need for the quality, affordable rental housing we wanted to build and
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Builders Outlook
set to work finding us investors. Now, we are one of the biggest housing tax credit developers in the country, us and our El Paso apartments are the stars of the Richman portfolio." continues Bobby Bowling IV. The Richman Group has brought over $250 million in capital investment to El Paso in the past 17 years. "That equates to thousands of El Paso jobs over the years", says Demetrio Jimenez, president of Tropicana Properties, a company he owns with Bobby and Randy. As for going forward, the Bowlings and Jimenez look forward to continuing to work with Richman. "The groundwork is now laid-out for the exit of the investors as the tax credits expire in our other 16 deals," says Bobby Bowling. The Bowling brothers and Jimenez each express gratitude towards El Paso and the families they house and look forward to continuing to serve those working families with quality affordable housing. "We've been so blessed," says Bobby, "We love El Paso for a lot of reasons, but the people here just cannot be beat. El Paso is home and we're not interested in going anywhere else.”
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Builders Outlook
EPAB Membership Builder members as of June 1, 2017
AT Architectural Designs Elsa Taracena Accent Homes Mark Dyer Bain Construction Scott Bain Bella Homes Leti Navarrete Bella Vista Custom Homes, Inc. Edgar Garcia BIC Homes Antonio Cervantes
Blue Star Construction, LLC. Carlos Villasana Carefree Homes Richard Aguilar Casas De Leon, LLC Nick Bombach Classic American Homes Priscilla Hernandez Crown Heritage Homes Lydia Mlouhi Cullers & Caldwell Builders John Cullers Cullers Homes Jason R. Cullers Custom Dream Homes Leti & Javier Navarrete D. R. Horton Homes Jaime Gonzalez Dawco Home Builders Walter O. Lujan Deal-2-Deal Homes dba Deal-2-Deal,LLC Delton Deal Del Rio Engineering, Inc. Sal Masoud Diamond Homes, LLC Valerie Baquera Donald Ward Builder, Inc. Donald Ward E. Valencia Land Development LLC Eddie Valencia Edward's Homes, Inc. Eduardo Fernandez EPT Land Communities David Bogas Everest Homes Edmundo Dena, Jr. Fortune Custom Homes Javier Andrade Gaddy Construction Charles Gaddy GMF Custom Homes, LP Frank Torres Guel Construction Rudy Guel Hakes Brothers LLC Chris Hakes Hanson Asset Management, LP Russell Hanson Homes by Design Leslie Driggers Hoard Hunt Communities, LLC Kathy Parry Icon Custom Home Builder, LLC. Carlos Garcia Industrial Realty Group Incorporated Brent D. Harris JER Custom Homes, LLC Jorge E. Rodriguez Kayton Lee Residential, Inc. Brianna Barnes LMJ Construction Co., LLC Mike Lopez Loyalty Homes Gustavo Loy M A Builders & Design, LLC Mustafa Ali Metro Homes, Inc. Fernando Torres, Judith Arrunada, Millennium Homes Dan Ruth New Horizon Builders Georgiana Garcia Pacifica Homes, Inc. Juan Jose Vasquez Palace Homes, Inc. Robert Diaz Palo Verde Homes Edgar Montiel Pointe Homes Carlos Villalobos
2017 Issue 5
Updated every month, here is a list of the 2017 EPAB Membership. Remember to please do buinsess with fellow members.
Porter Homes Albert Porter R.C. Baeza & Associates Robert C. Baeza R.E. Welch Contractor Gordon Welch Rassette Homes, Inc. Donald Rassette Santana Custom Homes Fernando Santana Southwest Land Development Serv. Doug Schwartz The Heritage Group David Bingham Trejo Construction Co. Juan Trejo Tropicana Building Corp. Bobby Bowling IV Tropicana Development Greg Bowling Tropicana Homes Randy Bowling Tropicana Properties Demetrio Jimenez Villagi Homes, LLC Kristi Eddings Will Harvey Development Will S. Harvey Winton/Flair Homes Herschel Stringfield Associate Members as of June 1, 2017
2-10 Home Buyers Warranty Michael Elman 84 Lumber Ernie Chavez ABC Supply Co., Inc. Larry Eck Acme Brick Company Vanessa Rocha; Steve Bush Adams Moulding & Lumber Tom Swahlen Area Iron & Steel Works, Inc. Fred L. Edmonston Jr. Atrium Homes Ricardo Bocardo Jr. Bank of Texas Ray Owen Barnett & Bennett Construction Ben Trzyna Baron Supply David Trammell Barragan & Associates Benito Barragan Barrett Airworks Alexandro Castro Beasley, Mitchell & Co., LLP Brad Beasley BMC Select Jaeson Iovinella Boise Cascade Mike Flores Bonded Builders Home Warranty Grp. Bill Deal Border Solar Javier Ruiz Builders Source Appliance Gallery Kathy Rose, Sandra Lucero C. D. Lee/Britton Insurance & Bonding Anthony Landavazo; Lisa Daniels Cabinet Masters Mike Robles Capital Bank, SSB David Ortwein Cardel Design Group Lorraine Huit Casa Ford & Casa Nissan Luke Lowenfield CEA Engineering Group Jorge L. Azcarate Central Texas Metal Roofing Supply Co.,Inc. Ben Garza, III Chaparral Materials, Inc. Kevin Fortin City Bank Texas Bob Kotarski City Lights Thomas Brown Cognent, Inc. Martin Paredes Commercial Insurance Brokers, Inc. Ken Foster Conde, Inc. Conrad Conde
CQC Testing and Engineering, LLC Jaime Rojas Dal-Tile Joseph Cepeda Demcon Disposal Management, LLC Maria Elena (Nena) Gomez Dempsey, Cooper & Lane, LLC Richard T. Dempsey Dunn Edwards Paints Nathan Gordon Dorney Security John Dorney DWS Building Supply Sabrina Voorhies E.F. Building Materials, Inc. Efren Fraire Eagle Roofing Products Scott Aguilar El Paso Building Materials Ken Wade El Paso Disposal Irma Parsons El Paso Mortgage Bankers Association Randi Cabrera El Paso Star Ready-Mix Concrete Inc. David Armendariz El Paso Times Jose Molina El Paso Truss Luis Mendiola El Paso Winnelson Rene Goldfien Ferguson Enterprises Inc. Albert Holguin First American Bank Luis Sauceda,
First Light Federal Credit Union Lorenzo Revelez Firth, Johnston, Bunn & Kerr Jay Kerr Foxworth Galbraith Lumber Dan Villarreal Franklin Building Materials Ricardo Aguilar; Cristina Sheldon GCC Sun City Materials, LLC Victor Tito Marquez GECU- Greater El Paso Credit Union Brenda Aguirre Greater El Paso Chamber of Commerce Richard Dayoub GEPAR-Greater El Paso Assoc. of Realtors Sharron Ramirez Hardware Specialties Jeff R. Paxton Harris Real Estate Group Lane Harris Haskins Electric Charles B. Haskins, Jr. Home of Texas Mark Smiley Home Performance Testing Fernando Garcia/Ray Gonzales HUB International Luis Rosas Insight Mortgage Company Shawn Weeks Interceramic Tile & Stone Gallery David Holguin Inter National Bank Natalie Ojeda J & H Concrete & Post Tension Jorge Herrera James L. Ellis, CPA, PC Jim Ellis Jobe Materials, LP Charlie Tellez Joe Bernal Insurance & Financial Services, Inc. Joe M. Bernal L & P Building Supply Denise McConnell Legacy Real Estate Services /TTi Prop. Management. Patrick Tuttle Lennox Industrie Sharon Horton Lone Star Title Co. of El Paso Sam Trimble Love Engineering, Inc. Montez Love Majestic Realtors Patti Musshorn MAK Roofing & Construction Felix Vizarreta Masco Contract Services dba Gale Insulation Tom Harmon
McCoy's Building Supplies Julie Reyes Mechanical Technologies Jaime Zubiate Morrison Supply Sam Shallenberger MTI Ready Mix, Inc. Tony Mullen Neeuhome.com LLC Walter Pichardo New American Funding Brenda Trillo New Era Foam George Tollen Passage Supply John Chaney Patriot Mortgage Randy Bowling Pella Windows Jason Bates Performance Glass & Aluminum Hector Hernandez Pioneer Bank Kathy Carrillo Prewire of El Paso, Inc. Steven Drury Post Tension Dennis Moore Powerfoam Insulation: Metlspan NCI Group, Inc. Arnie Pederson Randall Smith, CPA Randall Smith Real Estate Weekly Newspaper Riley Stephens Rebath of El Paso/Las Cruces Lisa Walling Remcon Self Storage Will Harvey
Richman Group Affordable Housing Corp. Kevin Hoffman Rocky Mountain Mortgage Company Dean Inniss Roe, Brad Bradley Roe Rudolph Chevrolet Art Smith Sarabias Blue Sanitation Monica Brown Saguaro Corporation dba EP C & D Recycling Sean Gillespie Senercon Javier Ruiz Sherwin Williams Paint Cruz Lopez Sierra Title Company/Lawyers Title Angelique Roman Simpson Strong-Tie Company, Inc. Ken Donham Snappy Publishing, LLC Ted Escobedo Solar Smart Living Larry Perea Southwest DĂŠcor El Paso Corporation Chris Matthews Spectrum Technologies Miled Daou Stewart Title of El Paso Cindy Bilbe StrucSure Home Warranty Scott Whisenant Su Casa Magazine Bob Skolnick Sun City Winnelson Dean Moore Texas Gas Services Mica Short Texas Title Company Steve Raney TFCU Yolie Melendez-Estrada The Dorian Group/Ocean Gallery USA Miguel Angel Mercado Trane Residential Solutions Robert Meske/ Kathleen Chacon TRE & Associates Linda Troncoso Trim Team Juan & Kris Hernandez USA General Contractors Javier Olmos Vision Consultants, Inc. Kelly Sorenson WestStar Home Loans Cinco Houghtoni WestStar Bank David Osborn WestStar Title Janette Coon
Association News & Events
2017 Issue 5
UPCOMING EVENTS JUNE 10 FIRST HOME SATURDAY BASSETT CENTER 10AM JUNE 14 BOARD MEETING 11:00 GENERAL MEETING 12 NOON MARRIOTT HOTEL
If you have an event or meeting that you would like to share with EPAB members, please submit your information to: margaret1@elpasobuilders.com
NEW MEMBERS BLUE STAR CONSTRUCTION, LLC. Contact: Carlos Villasana 7107 N. Mesa, Ste. 632 El Paso, Texas 79912 915-217-6003
AUGUST 2-3 SUNBELT SHOw AUGUST 2-4 TAB MEETINGS HILTON ANATOLE DALLAS, TExAS
AUG. 26 – SEPT. 10 EL PASEO DE CASAS IN HORIzON HILLS
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Sing prod e units rate uction is be es s g jobs. Meanwh projecte le-family very affo low by historical will rise, they addition d to incr doubled ile, home equity rdable.� stan al 27 ease an dards and percent sinc has units. in 2016 $12.5 trilli e 2011 and now nearly to 914,000 on. Supply stands at On the mul Headwi “The sing tifamily side le biggest 354,000 Crowe note nds people’s , prod units last asset in d several uction ran portfolio hinderin 331,000 year, slig most factors at is ga said Cro level that htly abo we. “That’s the home they NAHB surv more robust reco that are ve the level of own,� primary producti is considered a importa very. Citin ey of its purchas on. Multifam normal builders expecte ers of new nt because the sellers of reported members, 13 perc g an sam d to rise ily starts homes are the existing labor was 9 ent of this yea e concern homes. r and pos percent to 387,000 are the a significa cost and availab The mor that con t ility of that ratio sho s regarding lots decline nt problem units e equity cern to 378,000 a modest 3 perc in Concern t up to 58 percent 2011 and ent About one jumped to 61 perc in 2011 and unit Res s in idential in 2014. -fifth of buil ent remodeling 2016. at 58 perc s over building forecasted ders sha in 2014. mat ent amo activity is red the from 33 ng builders erials stood over last to increase 6.8 percent in 2014, perc year and in 2011. up No doubt percent rise an add ent in 2015 in 2016. itional 6.1 ideas that that the home brought really mad together that muc e the sho h of actually more interesting. wcase home Continu The proc ed Page setting up piecing the walls ess 6 together the floor The ann , a wall or and the ual Fall in the ceil all that goe brought Home and the faint ing is not thousan s on Garden ds of peo hearted. somethi Judson show ple ng for Habitat “We wer Will for e asked show kick iams Convention into the by could from Humanity to don ed ate people wer off October 9. Center as the this wha build, and t could,� Torr The thro I’m prou we ngs of presente e greeted by a d that we the showca es told the Out very nice d show look. The complim ly produce ents waiting for se was quickly rest of r Show Technology of the take Antonio. parts that some of the fram n to a lot out of San e could be The sho waste. used so and other w Ove to not go showcase featured a spe showcase rall a very bea to ctac utifu Metro Homhome by new buil ular for years home that will con l green der mem to come. tinue to was mad es. The design ber give e of The Fall site in orde to be partially con the display Home and show of structed Garden its established r to meet the time off some time center was kind this year sinc was the only lines for the ,� said Ass that eve e the civic taken ove Sam Sha Bowling ociates n with that show. “I have to r for the llenberg Chairma Cha tell hustled addition Men’s er. and exh to make al time we you center turn mpionship (AB ibitors and “We had new n bring to C). sure we product disp have.� the that was had a grea really complet ed into a large bow The civic to show,� a nice thin lays what’s hot consumer bec e with t said CTU Met ling alle state Fernan ause g to The pres run into in the wor ro said. situations of the art lanes. y enting attra ld of wal I know staged the Homes. Beautifu do Torres of Wiz center or like this ls,� Santos “We ard, Bria ction was l and eleg when the halls we n Santos Our sinc the show house became the Wall antly demons civic that can use are the favo who winning trati did and all the ere thanks to CTU the fit rite of ons duri several Best of efforts. “I really Show for of Show our shows,� said only ones “We love com ng the three day Acosta Reasuppliers and the Metro Homes Technology the Tommy off our mod are excited to ing so many event. Mantini flexible but to El Pas be able . “We hav folk of gratitud l Estate. We also staff of David to show estate age els to the public the Outlook s for the first time o and seeing e to the we would then again I kno e to be owe a and to the nts becaus civic cen exhibito . “The El w that this ,� have pen market and real e we’re rs who fille debt Builders ter with showed Paso Ass Brian told t up dem year new to the we think goo has thin d the duri d and ocia product help gs prod ng we have and it for the visit tion ed me get this eve other ass ucts and to What imp nt.� ociation or to see lots of other gigs of Home and continued. offer the consum a very good s recomm . Our Spr with aisles and ressed many was er,� Torr endation,� and I’m grateful ing 11-13, 201 Garden Show is es for the who has he continu on comforta the amount of roomthe carpeted authored reach pote 6. Don’t miss this for March ed. San bly mov to and is an several e around. was one “how to� tos, inventor Technologyntial customers. opportunity to of the nice “I thought boo com and Visi ks this st shows today at panies innovato t Show www we’ve had r for sev relationship including Home eral info .showtechnolog in Depot. y.co rmation “My Depot and with Rubber Mai on the Spr m to get d and Hom Lowes is ing show. really a great thin e g to See Mor e Photos Page 8
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The Builders Outlook is the official publication of the El Paso Association of Builders. Our award winning monthly newspaper is the only publication to target El Paso home builders and related businesses.
AUGUST 9 BOARD MEETING 11:00 GENERAL MEETING 12:00 TBD AUG. 25 EL PASEO DE CASAS PREvIEw NIGHT HORIzON HILLS
13
Builders Outlook
Connect to the El Paso Association of Builders: www.elpasobuilders.com
Widely distributed throughout the city and available to readers online, the Builders Outlook is an important advertising medium for any business that want to reach this valuable market.
7 7
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14
Builders Outlook
Expert Advice
by Ruth Rivera, VP Bukaty Financial
El Paso Association of Builders Retirement Program to keep you informed, will be providing seminars in several topics. Specifically, two different dates/times are provided to provide a discussion on the implications and solutions based on the new regulation. See agenda. As you are likely aware, in April the U.S. Department of Labor (DOL) issued a 60-day delay of the implementation of its fiduciary rule, which now has an applicability date of June 9, 2017.
In addition: • The delay did not change the applicability date of January 1, 2018, when full compliance is required. • The delay was put in effect in response to the presidential memorandum directing the DOL to conduct a legal and economic analysis of the rule and, if appropriate, to revise or repeal it based on that analysis. • Alexander Acosta was confirmed as the new Secretary of Labor under the Trump administration, which could impact the final provisions of the rule.
Perhaps the most significant change is that many 2017 requirements for compliance with the Best Interest Contract (BIC) Exemption have been pushed out until 2018. Although the BIC’s disclosures will not be a
Retirement News & Seminar Schedule
component of 2017 compliance, firms must ensure that advice meets “impartial conduct standards� and is provided in the best interest of the recipient. The requirements pushed until January 1, 2018, are the BIC’s extensive disclosure requirements and very specific compliance procedures required to be adopted by the firm providing advice. The Retirement Industry is providing a huge push to be ready for these regulations that will take place on June 9, 2017. Be ready and learn about new innovative solutions and work toward complying with the fiduciary rule. June 19, 2017: Lunch Meeting (11:30am-1:00pm)
June 20, 2017: Afternoon (3:00am-4:30pm) (DOL Regulation: Learn about the 2017 rules, your Fiduciary Role, and Plan Governance) Understand what the 2017 Fiduciary Rule means and what you are responsible for. As a Fiduciary and nonfiduciary, learn how to implement and document your processes within the new regulations. Understand what Best Practices in plan governance will work to protect your company and the participants. June 19, 2017: Afternoon (3:00am-4:30pm) (Fiduciary Training: Investment
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CommitteeMinimize Risk and Litigation) As a requirement for a Fiduciary, the investment committee must review the following due to the new rules. We will discuss the following: 1.) Fiduciary liability insurance, 2.) Fee level disclosure, 3.) Reasonable compensation, and 4.) Potential conflict of interest. Investment committees are great way to minimize risk and litigation. Learn how to understand the roles and responsibilities, how to implement a charter, and learn how to document decisions.
June 19, 2017: Dinner (5:30pm-7:00pm) (Different types of Corporate Retirement Programs: Owners and Key Management Solutions) As an owner, learn about retirement solutions that will allow you to defer pretax monies above $100,000 and retain Key management. There are several reasons that companies provide corporate retirement accounts. Obtain more information on other products and how they can assist with employee
retention, highly compensated employees funding, tax credit and tax deductions.
June 20, 2017: Breakfast Meeting: 7:00am-8:30am (Employee Engagement: Plan Designs to increase participation and reduce costs) Learn how to start a retirement program to be effective and maximize participation. If you already have one, learn how changing a few key plan design options will increase participation, protect the employer, and reduce costs.
June 20, 2017: Lunch Meeting (11:30am-1:00pm) Industry Trend- Health Savings in Comprehensive Retirement Planning) Help employees understand the convergence of health and wealth by encouraging them to engage in wellness programs, utilize resources that help them become better healthcare consumers today and maximize for tomorrow’s retirement expenses.
Builders Outlook 2017 Issue 5 6046 Surety Dr. El Paso, TX 79905 915-778-5387 • Fax: 915-772-3038
■ExECuTiVE OFFiCERS PRESiDENT Don Rassette ViCE PRESiDENT Edmundo Dena SECRETARY/TREASuRER Sergio Cuartas ASSOCiATES ViCE PRESiDENT Sam Shallenberger ExECuTiVE ViCE PRESiDENT Ray Adauto PAST PRESiDENT Carlos Villalobos
■TAB STATE DiRECTORS Randy Bowling - Life Director Sam Shallenberger Edmundo Dena
Honorary Life Members Mark Dyer Wayne Grinnell Don Henderson Anna Gill Brad Roe Rudy Guel
Finance Committee Kathy Carrillo Henry Tinajero
■ADViSORY TO THE BOARD Jay Kerr, Firth, Johnston, Bunn & Kerr ■BOARD OF DiRECTORS
Metro Homes West Star Bank Firth, Johnston,Bunn & Kerr Employer Benefits Ep Passage Supply Dorney Security Pioneer Bank Hunt Companies Bella Homes/Custom Dream TRE & Associates Homes By Design Southwest Land Dev. Services Dawco Builders Bella Vista Custom Homes Cullers Homes Icon Custom Homes DRE Development Snappy Publishing Legacy Real Estate Services Lone Star Title Hub International Deal -2-Deal Homes Pacifica Homes
 
 
 
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Informació Hipotecas
Past Presidents Committed to Serve Edmundo Dena Edgar Montiel Frank Torres Frank Arroyos Greg Bowling Randy Bowling Bobby Bowling Iv Doug Schwartz John Cullers Robert Baeza Mark Dyer Kelly Sorenson Rudy Guel Brad Roe Herschel Stringfield Bob Bowling Iii Pat Woods
EPAB Mission Statement: The El Paso Association of Builders is a federated professional organization representing the home building industry, committed to enhancing the quality of life in our community by providing affordable homes of excellence and value. The El Paso Association of Builders is a 501C(6) trade organization. © 2017 Builder’s Outlook is published and distributed for the El Paso Association of Builders by Ted Escobedo, Snappy Publishing, LLC ted@snappypublishing.com El Paso • Texas • 915-820-2800
2016 Builder Member Of The Year Carlos Villalobos Pointe Homes  
772-7495
â– NATiONAL DiRECTORS Bobby Bowling, IV Demetrio Jimenez Leslie Driggers Hoard -Alternate Antonio Cervantes - Alternate
â– COMMiTTEE CHAiRS Membership Ted Escobedo Patrick Tuttle
Fernando Torres Henry Tinajero Jay Kerr Joe Bernal John Chaney John Dorney Kathy Carrillo Kathy Parry Leti Navarette Linda Troncoso Leslie Driggers-Hoard Robert Foster Walter Lujan Edgar Garcia Jason Cullers Samira Gonzaelz Sal Masoud Ted Escobedo Patrick Tuttle Sam Trimble Luis Rosas Delton Deal J. J. Vasquez
El Paso Disposal
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