Wednesday, March 25, 2009

SBJ: 2008 Shakes Up Real Estate Market Share


Monday, March 16, 2009

2008 shakes up real estate market share


Monday, March 16, 2009


Greene County's share of area new home construction showed a slight uptick in 2008 after a steady decline in recent years, according to a five-county study presented to the Home Builders Association of Greater Springfield on Friday.

The real estate study covers Greene, Christian, Taney, Stone and Barry counties and was conducted by St. Louis-based Zanola Co. LLC. The firm began conducting market research for the HBA last fall and has committed to updating its data every four months. 

New home construction market shares were determined based on permits issued.

Greene County's share of new home construction in the five-county area in 2008 was up slightly at 39.6 percent from 38.9 percent in 2007, according to Zanola's most recent research. That's down considerably from about 61 percent in 2002. 

Christian County's market share was 24.8 percent, also up a hair from 23 percent in 2007 and up from 18 percent in 2002. Christian County saw a rapid increase between 2002 and 2005, but its share tapered off in 2006 and 2007.

Taney County lost a major slice of market share in 2008, ending the year at about 14 percent, compared to 23.3 percent in 2007. Taney County had consistent increases from 2002 to 2006 but began losing share in 2007.

Stone County saw the greatest increase in market share with 17.6 percent in 2008, compared to 11.9 percent the year before. That's also up from 8.9 percent in 2002.

Barry County ended the year with 4.2 percent market share, compared to 2.7 percent in 2007 and up from 1.9 percent in 2002.

Tuesday, March 24, 2009

Springfield News-Leader: Quicker Reviews by Greene County Could Boost Green Building


Didi Tang

Despite their complexity, green projects may soon be able to move through the county's review process as fast as other projects.

"Greene County wants to be on board to promote green buildings," County Administrator Tim Smith said. "We're simply facilitating those who want to do it."

Smith has suggested the county identify qualified green projects -- those seeking to use energy more efficiently and implement better environmental practices by certain standards -- and process their applications promptly.If approved by county commissioners, the proposal could help expedite the review process by weeks, if not months, for green projects.

That would nudge more developers and builders to take on green projects, said Matt O'Reilly, a leading member of the Ozarks Green Building Coalition.

"We're trying to do a good thing and we should not be running uphill to do a good thing," said O'Reilly, who developed Green Circle, a shopping mall that has incorporated various energy efficient and environmentally friendly features.

Matt Morrow, executive director of the Homebuilders Association of Greater Springfield, said builders and developers would support the county proposal as long as it's not done on the backs of non-green projects.

"It's a really good idea that we can save some time on a project that exceeds the regulatory standards by flagging them," Morrow said. "But builders and developers don't want this to be a slow track for things that are not green."

O'Reilly said it is fair for builders and developers of green projects to get preferential treatment because they "go above and beyond the codes."

"We're trying to be responsible," O'Reilly said. "We're not trying to make as much money as possible."

Smith said builders or developers needn't worry about delays -- not when the construction market is dull.

"Everything is on the fast track because we don't have anything to review," Smith said. "We welcome any project, green or not."

Changing the system

The proposal, Smith said, is intended to goad the bureaucracy to become more friendly to green projects.

"The system is resistant to change," the county administrator said. "What we're saying is ... we're going to be more positive."

Current government codes allow for construction of green buildings.

But green projects can trigger more questions in a review process because they often deploy unconventional design and building methods, O'Reilly said.

When trying to clear the regulatory hurdle for the Green Circle project, O'Reilly said he had to shuffle among several municipal departments, submitting additional information to justify his plans.

For example, the design of his stormwater system has unusual features such as rooftop green space and water-absorbing parking surface, prompting the city to ask more questions, O'Reilly said.

With each round of questions, O'Reilly said his files went back to the bottom of the stack for review, and the review process got drawn out.

He estimated he spent about two extra months for the final nod.

A fast-track approach, as proposed by the county, would save much time and money for green project developers, O'Reilly said.

Springfield officials say they have no immediate plans to give green projects any priority in reviewing --but they want to expedite the review process for all applications.

At the county courthouse, Smith said it is the gesture that matters.

"The most important message is that we will move your projects," Smith said.

The county administrator has suggested the county offer a 25 percent rebate in permit fees to qualified green projects, or those that are certified by either the U.S. Green Building Council's LEED program or the National Association of Home Builders.

The rebate, however, is not feasible now because of a tight budget, but it remains a possibility in the future, Smith said.

O'Reilly said the rebate could be another incentive for builders and developers to go green.

With more green projects, the county also benefits because green projects are less demanding on its infrastructure, O'Reilly said.

Monday, March 23, 2009

Springfield News-Leader: Housing Market Picks Up



March 18, 2009

Housing Market Picks Up

More people re interested in houses again in the Springfield area, HBA executive director says

However, experts view the surge as a temporary gain.

Martin Crutsinger
The Associated Press

Washington -- Housing construction posted a surprisingly large increase in February, bolstered by strength in all parts of the country except the West. 

While the surge in construction was far better than the continued decline economists expected, experts viewed it as a temporary gain given all the problems the housing industry still faces.

The Commerce Department reported Tuesday that construction of new homes and apartments jumped 22.2 percent in February compared with January, pushing total activity to a seasonally adjusted annual rate of 583,000 units.

Greene County construction permits for those months don't reflect significant growth.

The county issued four single-family home permits in January, compared with five in February. It issued permits for two duplexes and three eight-unit apartment buildings in January and no multifamily or apartment-commercial permits in February. (The numbers reflect all unincorporated areas of the county and any cities that don't track building permits.)

Springfield records for January and February are not yet updated since a virus hit city computers.

Winter weather likely crimped construction permits around Springfield, said Matt Morrow, executive director of the Springfield Home Builders Association. But he said Realtors, developers and builders report they are seeing more traffic at open houses, more phones ringing and more home closings in the last 45 days.

"Nothing happened at the turn of the (new 2009) calendar, and within 45 days all of a sudden people are interested in houses again," Morrow said.

"That doesn't mean we're in a housing boom, but it does mean we're getting a heartbeat again."

After news of the U.S upturn, investors reignited Wall Street's rally, snapping up financial and homebuilder stocks among others. The Dow Jones industrial average and other major indexes all finished with gains of more than 2 percent.

The protracted housing downturn, rising foreclosures and a deepening recession have battered homebuilders and scared off many potential buyers.

"Building permits are indicating that starts could improve modestly in coming months, but we believe the reprieve will be short-lived," Soleil Securities Group analyst Anna Torma wrote in a research note.

Even with the big increase, construction activity remains 47.3 percent below where it was a year ago. The strength in February was led by a sharp gain in apartment construction, which can be highly volatile from month to month. 

Saturday, March 14, 2009

KY3: Homebuilders worry about Obama plan to limit mortgage deductions (Re-Post)


(Technical Issues on Friday's post prompted this re-post on Saturday)

In a Friday (March 13, 2009) roundtable discussion with Missouri U.S. Senator Kit Bond about tax policy, the issue of the mortgage tax deduction was raised by members of the Home Builders Association of Greater Springfield, Missouri. KY3's David Cantanese interviewed Senator Bond, HBA President Rusty MacLachlan, and HBA Board Member Lee Beaman about President Obama's proposed tax increases and their impact on small business and home building. You can view the video of the news story that ran on the 10pm newscast directly from SpringfieldHBA.com or you can click here to watch the story on Youtube.

Friday, March 13, 2009

HBA / Zanola Triennial Construction Forecast Tops Evening News Coverage

(CLICK HERE TO WATCH ON SPRINGFIELDHBA.COM)

Both KY3 and KOLR covered the HBA's construction forecast and market analysis event at the top of their newscasts at both 5pm and 6pm tonight (Friday, March 13). To watch the coverage, simply click on the news stories below (if viewing directly from SpringfieldHBA.com), or you can watch on Youtube by clicking here for KOLR's version or clicking here for KY3's version.

KY3 Coverage at 5pm:



KOLR Coverage at 6pm: