Home builder confidence rose in January for the fourth consecutive month as builders saw more buyer traffic and anticipated higher sales.  The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) rose four points to 25 in January to reach its highest level since June 2007.  Each of the three components of the HMI also increased for the fourth month and the improved confidence was evident across every region of the country.

The HMI is the result of a monthly survey of NAHB has conducted for 20 years.  The survey asks the Association’s home builder members their perceptions of current single-family home sales and their expectations for such sales over the next six months, each graded on a scale of “good,” “fair,” or “poor.”  The survey also asks builders to rate the current traffic of prospective buyers as “high to very high,” “average,” or “low to very low.”  Answers to each question are used to calculate a component index and those comprise the composite index.  For each index a number over 50 indicates more builders view conditions as good than as poor.

Each of the three component indices rose three points in January.  The component measuring current sales conditions is at 25 and the index measuring traffic of prospective buyers is at 21, the highest point for each since June 2007; the index reflecting expectations for the next six months rose to 29, the highest score September 2009.

Bob Nielsen, NAHB chairman said of the results, “This good news comes on the heels of several months of gains in single-family housing starts and sales, and is yet another indication of the gradual but steady improvement that is beginning to take hold in an increasing number of housing markets nationwide. Policymakers must now take every precaution to avoid derailing this nascent recovery.”

“Builders are seeing greater interest among potential buyers as employment and consumer confidence slowly improve in a growing number of markets, and this has helped to move the confidence gauge up from near-historic lows in the first half of 2011,” noted NAHB Chief Economist David Crowe. “That said, caution remains the word of the day as many builders continue to voice concerns about potential clients being unable to qualify for an affordable mortgage, appraisals coming through below construction cost, and the continuing flow of foreclosed properties hitting the market.”

The HMI also posted gains in all four regions in January, including a nine-point gain to 23 in the Northeast, a one-point gain to 24 in the Midwest, a two-point gain to 27 in the South and a five-point gain to 21 in the West.

FHA has extended the temporary property flipping waiver announced in 2010 to December 31, 2012. The temporary waiver removes the restriction that prohibits FHA financing of properties being sold within 90 days of seller acquisition. Under FHA’s temporary guidance, all sellers and properties meeting the following requirements are exempt from FHA’s current property flipping restrictions:

• The purchase transaction must be arms-length with no identity of interest between borrower and seller or any other parties participating in the transaction (Note: FHA defines “identity of interest” as “a sales transaction between parties with family relationships or business relationships.”)
• If the sales price is 20 percent or more higher than the seller’s acquisition cost, the property flipping waiver applies only if the lender obtains the following documentation:
  • Evidence the seller has completed sufficient legitimate renovation, repair, and rehabilitation work to substantiate the increase in value (contracts and paid receipts and/or a second appraisal indicating repairs completed and the value of those repairs) – If no or minimal repairs were completed, the appraiser must indicate the reason for increase in value since seller acquisition, and
  • Copy of a property inspection completed by an inspector having neither an interest in the property or a relationship with the seller. The inspection must include all of the following elements:
    • Property structure, including foundation, floor, ceiling, walls and roof
    • Exterior, including siding, doors, windows, appurtenant structures such as decks and balconies, walkways and driveways
    • Inspection of roofing, plumbing, electrical, heating and air conditioning systems
    • Interior inspection
    • Inspection of insulation, ventilation systems, fireplaces and solid-fuel-burning appliances such as wood stoves

Contact MLS Funding for further details!

Thank you to everyone who came out and joined us for our Halloween Open House at our new location! Here are some photos of the costumes!

Shawnee and Rob McLaughlin as                         Brianna Newkirk as Dorthy           
John Lennon and Yoko

Daniel Nutu as Milton from Office Space               Ben Norwood as Wheres Waldo

MLS Funding Corporate Office Employees

This year at Solid Rock Ranch there were nearly 300 kids/youth that attended along with 200 volunteers! MLS Funding was honored to partner with the Solid Rock Foundation for our 3rd consecutive year. Check out a week in the life of Solid Rock Ranch.

On the first day of Ranch, kids youth are given there team color bandanas, and find out whose team they are on.

(Pictured Middle: Madison McLaughlin proudly wearing her turquoise bandanna, with Shawnee McLaughlin; Director of Public Relations of MLS and Director of Kids camp at Solid Rock Ranch)

MLS President Rob McLaughlin volunteers each year as a boat driver on the water taking the kids tubing at Columbus Park on Black Lake.

Solid Rock Ranch consists of 66 beautiful acres, where kids can spend time on the field team building, horse back riding and playing paintball.

During the week at Solid Rock Ranch, ever-lasting relationships are formed. The “Ranchers” sleep in tents like the one pictured above… and use restrooms like the one to the right.

The last night of Ranch is spent hosting a family night. Pictured above on the left is Pastor Russ Newkirk (Husband of MLS Operations Manager; Brianna Newkirk), Pastor Sherry Elliott, Kids Ranch Director Shawnee McLaughlin and Day Ranch Director Wendy Sessoms.

For more information on Solid Rock Ranch please contact Shawnee McLaughlin.

MLS Funding’s Jami Downing was a proud sponsor at the Annual Greater Olympia Life Golf Tournament held June 3, 2011 at Indian Summer. Money raised from this fundraiser supports sending Young Life members to their annual summer camp. Young Life is a  non-denominational Christian ministry that reaches out to adolescents through volunteers, staff, club meetings, and camps.  For more information, please visit www.younglife.org

Capitol Little League is a volunteer only league. No one gets paid for the time they invest in the league to coach, umpire, work on the fields or organize activities. As such we are  dependent on the generousity of people to dedicate their time to make this league a success and sponsors who see the benefit in supporting healty activities for kids . On behalf of Capitol Little League we are grateful to MLS funding for sponsoring a team for the second year running. The benefits the kids gain and the lasting memories they will have are all made possible by the generous donation you have made to our league.  We appreciate your support.

Thank you

Darren Armin

Manager CLL Minor Giants

GO GIANTS!!!

Each year, members of  MLS Funding’s Corporate office  take a week off in July to volunteer at the Solid Rock Ranch.

Last year, members included: Rob McLaughlin, President;  Al Yi, Vice President; Shawnee McLaughlin , Director of Public Relations; Brianna Newkirk, Operations Manager; T.J. McCown, Loan originator;  & Ben Norwood, Administrator.

This years Ranch is expecting about 300 kids and over 100 volunteers!

Ben Norwood of MLS Funding and his        (L to R)Brianna Newkirk, Shawnee
Yellow team.                                                  McLaughlin, Ben Norwood

MLS Funding is a proud to be a Business sponsor for  the Little Rock Elementary School  Walk-a-Thon, taking place  Friday June 3, 2011.

This event empowers students to participate in a fundraising  event  that allows for 100% of the profit ‘to go straight to the school’!

One more way to help keep our community strong!

MLS Funding was proud to be a team participant at the “Bowling For Boobies” event that took place Saturday January 22nd at the West side lanes Bowling alley in Olympia. Though not “official winners” of the tournament, MLS’s very own “MLS Funding Rack Pack” was proud to finish with 835 points! Go MLS Rack Pack