Prospective first-time home buyers who have been sitting on the fence now have a significant financial incentive to explore the opportunities available in today’s housing market.

H.R. 3221, the Housing and Economic Recovery Act of 2008 — which was passed by the Congress on July 26 and signed by President Bush on July 30 — allows first-time home buyers to take a $7,500 tax credit from the purchase of a single-family home, townhome or condominium apartment.

To get the word out to the home-buying public, NAHB has assembled materials that will help association members maximize the impact of this temporary sales incentive.

Among those resources:

• NAHB has published a Web site for consumers — www.federalhousingtaxcredit.com. The site includes details and questions and answers on how home buyers can use the credit.
  
  
• On www.nahb.org/mythbuster, NAHB has posted talking points, print ads, a consumer handout on the “top reasons you shouldn’t wait to buy a new home” and a banner ad for Web sites — all geared to alerting home buyers to the availability of the credit.

60-hour pre-licensing coursework offered through BEST of Michigan

On June 1, 2008 a new law went into effect in Michigan (Public Act 157 of 2007, or PA 157) requiring 60 hours of pre-licensing coursework before the builder’s licensing exam can be taken.  The coursework must be offered through an educational institution such as a high school, community college, university or proprietary school.  The instructors and courses must also be approved by the State of Michigan.

The Michigan Association of Home Builders launched Builders Education Services and Training of Michigan, Inc., or BEST of Michigan, on June 1st.  BEST is a proprietary school offering approved classes which satisfy the 60-hour requirement. 

Anyone having questions regarding the new licensing laws or the BEST program can contact BEST director, This e-mail address is being protected from spam bots, you need JavaScript enabled to view it  or by phone at (517) 646-2599.

On Tuesday, May 20, 2008, 400 members of the Michigan Association of Home Building came to the Capitol to “Stand Up for Housing.” The report, “Stand Up for Housing – A Foundation for Economic Recovery,” was unveiled at the rally.   Six legislative initiatives are found in the report which lay the foundation for recovery in the housing market.

The rally was attended by Senator Wayne Kuipers (R- Holland) who is the sponsor of Senate Bill 1247 which is our deferment of assessment bill.  Also in attendance was Representative Steve Bieda (D – Warren) who is the sponsor of three bills in our package.  House Bill 6031 will clarify the materials deduction for the building industry under the Michigan Business Tax.  He will also be sponsoring our “green energy” legislation – this should be introduced by the end of May.  Rounding out our legislators who are Standing Up for Housing was Representative Fred Miller (D-Mount Clemens).  Representative Miller has introduced House Bill 5334 which would prorate the homestead exemption for buyers who purchase a non homesteaded home after the May 1st date.  Representative Miller will also be sponsoring our Real Estate Transfer legislation.

Following the Stand Up for Housing rally, members of the Michigan Association of Home Builders hand delivered the report to their State Senators and State Representatives. 

Assess Your Home's Efficiency with an Energy Audit - PDF Download

The Outstanding Value of Homeownership - PDF Download

Resist the Urge to Ignore Outdoor Home Fall Maintenance - PDF Download

Online Resources Can Help - PDF Download

March 24, 2008 - Website Link