SNHBA News
SNHBA Discusses Low Appraisals
Ron Rulof, longtime SNHBA board member and chairman of the sales and marketing committee, is spearheading the association's efforts to resolve a serious problem involving low appraisals on new homes for sale by builder members. The problem stems largely from appraisals that incorporate the sale prices for REOs, or lender-owned properties, in the general vicinity of the new home.
Rulof and several SNHBA leaders met with high-ranking representatives of a major mortgage lender and appraisal company to discuss the problem identified by sales agents and builders. The mortgage lender and the appraisal company were receptive to the concerns of the association and its builder members.
The two companies indicated that efforts will be made to ensure homesites and upgrades are more carefully evaluated. The gap between new home pricing and similar existing home pricing will be better evaluated, assigning more depreciation to the existing home or more value to the new home.
The companies need the help of builders to accomplish this task. Recent information on the closing prices of new homes is not easily available to appraisers. It is imperative that a builder seeking an appraisal contact neighboring builders with similar product and values, and furnish the addresses of recently closed or pending homes that could be used in the appraisal process. The appraiser can obtain details from the competitive builder for these products. Builders do not need to provide the details of your competitors' contracts, but they must help with accurate new-home sales data in the surrounding area to resolve this dilemma.
Sloan Canyon Project Unveiled
SNHBA members who attended the community planning and development committee meeting received a briefing by the city of Henderson, outlining the city's plans to foster a sustainable community in the Sloan Canyon area. The city has set a goal of balance between development and smart growth in the area. Several design concepts have been suggested that include the preservation of specific washes, hillsides, ridges, native vegetation, open space, trails and scenic vistas. By using a conservation approach, a developer could build the same number of homes in a smaller footprint, and in the process preserve larger portions of Sloan Canyon. Furthermore, the city would define appropriate energy efficiency and Water Smart programs for the development.
An additional opportunity for developers in this project area includes the benefits resulting from a lease agreement with the city, which would set aside those environmentally sensitive portions of the project area as conservation zones, covering some of the open space requirements for the developed portion of the canyon.
Regulations for Water Treatment Plants to be Adopted
The Clark County water reclamation district board of trustees will conduct a public hearing on Dec. 2 to act on the proposed district resolution, a resolution establishing uniform regulations for the design and certification/approval of package wastewater treatment plans and interim package wastewater treatment plans. The district has met on several occasions with SNHBA to discuss the resolution.
Recommendations from SNHBA were incorporated into the proposal. A workshop will be conducted at the offices of the district, where a full description of the contents of the resolution and the fees scheduled for design review and inspections will be addressed.
SNHBA Reviews Green Building Incentives
As a member of the city of Las Vegas' Green Council, SNHBA seeks suggestions from builder members about possible incentives that would encourage green building. These incentives could be incorporated into a policy defined by the city to encourage the planning, designing and building of homes that include design concepts, innovative products and material and construction methods that result in energy efficiency, fostering the overall goal of the city to develop a sustainable community.
The city's green council will prepare recommendations for consideration as new elements to the city's building, zoning and subdivision codes. This is a unique opportunity for the homebuilding community to assist in the definition of the types of incentives that would encourage green building in residential developments.
Pad Recertification Process to Stand
Clark County department of development services has reviewed its pad certification procedures and has determined that the department will not make any procedural changes to the way pad certifications are recorded. Pad recertification is a process wherein the prepared soil conditions at the construction site are confirmed as being applicable to intended building construction.
Nevada Power Announces Acquisition
NV Energy, a SNHBA member formerly known as Nevada Power and Sierra Pacific Power, announced the completion of the acquisition of the 598-megawatt Bighorn Generating Facility from a subsidiary of Reliant Energy Inc. The acquisition was completed for approximately $510 million, including inventory and other closing costs and adjustments. The addition of Bighorn is a step in the company's goal to achieve energy independence for Nevada, says Michael Yackira, president and CEO.
SNHBA Celebrates More Than 50 Years
For more than 50 years, the Southern Nevada Home Builders Association (SNHBA) has been a leading organization in the governmental and public affairs of Nevada. SNHBA has more than 550 members and is actively involved with numerous issues ranging from cost control to environmental protection, which impact the homebuilding industry, home buyers and homeowners. That involvement includes lobbying and advocating on the local, state, regional and federal levels.
"The Southern Nevada Home Builders Association has done a fantastic job in all facets of educating and lobbying for the local homebuilding industry and home buyers," says member Dennis Smith, founder and president of Home Builders Research of Las Vegas.
"SNHBA has been, and will continue to be, an integral part of the Southern Nevada community," says Smith. "The association is responsible for making sure that our local homebuilders and other industry professionals keep up with the issues facing them in government every day."
