Government Affairs Update

Troi Bachmann, Joint Government Affairs Director, HBAWS & WSRAR

Government Affairs Local Update 


From the Desk of Troi Bachmann
Joint Government Affairs Director 


Potential Insurance Rate Increase:

In the last days of 2018, the North Carolina Rate Bureau presented a request to state Insurance Commissioner Mike Causey to increase homeowners’ insurance rates an average of 17.4%. This is the second rate increase in two years. Any rate increase will negatively impact the state’s real estate industry as just a few percentage points increase in insurance rates can mean hundreds of dollars in additional costs borne by homeowners. Some communities across the state could see up to a 30% increase. NCHBA is working on developing a Call for Action at this time.

 

SAVE THE DATE for NCHBA Legislative Days:

This year, NCHBA Legislative Meetings will occur May 21-22 in Raleigh, NC! Come advocate for your industry with your fellow HBA members from across the state.

Forsyth County UDO Update: Winston-Salem/Forsyth County Planning will be working in the next year to make updates to the Unified Development Ordinances. These updates are intended to make the UDO more user-friendly.  You can find an initial draft of the Code Assessment here, and more information about the project here.

Forsyth County GeoData: Winston-Salem/Forsyth County are in the process of moving away from the old GeoData platform. GIS Information can now be found at http://mapforsyth.org/.

Work Ready Forsyth: Forsyth County has applied to become an ACT certified Work Ready Community, which is a program aimed at linking workforce development with education and providing for the unmet labor needs of local employers. The certification process is a two-part system: the first aims to have individuals receive National Career Readiness Credentials and demonstrate an aptitude for workplace skills, and the second part is to have businesses in the community recognize this is a credential that can be used in hiring practices. Find out more about the program here

Opportunity Zones:

The opportunity zone program created by the Tax Cuts and Jobs Act provides preferential capital gains treatment for investments within designated low-income census tracts. This program aims to boost investment in economically distressed areas. There are certified opportunity zones located in Forsyth, Davie, Yadkin, Stokes, Surry, and Wilkes counties. You can find a map of the zones here. NC REALTORS®  hosted a webinar with more information about Opportunity Zones which can be viewed here.

Troi Bachmann | Local Government Affairs Director

NC REALTORS®

Mail:  4511 Weybridge Ln | Greensboro, NC 27407

Telephone: Office 336.808.4233 | Mobile 336.491.1316
www.ncrealtors.org

 

 


 

Housing = Jobs

Housing = Jobs

Housing = Jobs

[NCHBA] Consumer Benefits of New Construction:

  • Even though new homes tend to be larger, energy costs are about 10 percent lower in new homes compared to existing homes.
  • Maintenance costs on average were 56 percent lower in new homes; $547 a year for all single family homes versus $241 for homes built after 2008.
  • New homes feature floor plans that suit modern lifestyles, with open space layouts, high ceilings, large windows and design features such as information centers in kitchens, laundry rooms located near bedrooms, walk-in closets and pantries and mudrooms for convenience and comfort. Find the most popular features in 2014
  • Today’s new homes are built with environmentally-friendly features such as energy-efficient tankless water heaters, Energy Star appliances, HVAC systems, insulation and windows and doors that make the home more comfortable and can save the home owners money over the long term.

Community and Economic Benefits of New Construction:

The estimated one-year local impacts of building 100 single-family homes in a typical metro area include:

  • $21.1 million in local income,
  • $2.2 million in taxes and other revenue for local governments, and
  • 324 local jobs.

The additional, annually recurring impacts of building 100 single-family homes in a typical metro area include:

  • $3.1 million in local income,
  • $743,000 in taxes and other revenue for local governments, and
  • 53 local jobs.

HOUSING = JOBS

*Article originally posted on NCHBA website.