Housing data for the end of 2022 illustrate a market continuing to weaken because of low housing affordability, largely as a result of elevated mortgage interest rates. At the start of 2023, the average 30-year fixed mortgage rate is near 6.5%, down from a near 20-year high of 7.1% in early November. However, forecasters are expecting the Federal Reserve to end its path of rate increases at the end of the first quarter. This should lead to sustainable declines for mortgage rates in the second half of 2023 and into 2024, enough to spur a rebound for single-family construction. 

The Supreme Court of North Carolina recently decided a case of major significance to builders and developers. The decision establishes safeguards against local government “permit extortion” which, unfortunately, is a common practice in this state. NCHBA joined the Pacific Legal Foundation in support of the plaintiffs by filing an amicus curiae (friend of the court) brief in the Supreme Court.

In reversing a decision by a panel of the NC Court of Appeals, the Supreme Court held that the “capacity use” fees at issue in the case were “monetary exactions” subject to constitutional scrutiny and must, therefore, satisfy the “essential nexus” and “rough proportionality” test in order to avoid being treated as takings of plaintiffs’ property. This decision provides explicit legal protection to builders against permit demands which quite often exceed these constitutional restrictions.

Be Pro Be Proud, Inc is leading the movement to bring a new generation of pride, progress & professionals to America’s skilled workforce. The initiative is led by the Home Builders Educational and Charitable Foundation, and on Tuesday, Feb 22nd officials from the NC Department of Labor and the NC Home Builders Educational Foundation gathered for a contract signing event to officially mark the establishment of the Be Pro Be Proud pilot program! 

These important tips can protect you from substantial financial loss and emotional stress.

• Plan your project Plan out in detail what you want done and who you will need to complete it. No two projects are the same, and some may require a specially licensed contractor. Contact your local permitting office to see if permits are required to assure code compliance.
• Get several estimates When comparing estimates from different contractors, don’t just compare the bottom-line cost. Look at the cost, quantity and quality of materials in each estimate. Be sure the estimate includes the total price, the materials to be used, a time table for payments and the expected time line for completion of the work.

Carbon monoxide results from the incomplete burning of carbon-containing fuels such as natural gas, gasoline, kerosene, oil, or propane. Because it has no odor or color, CO gas is impossible to detect by smell or sight, so you can be breathing it in without knowing it. Moreover, because initial symptoms that include headaches, fatigue, and dizziness, exposure is frequently chalked up to normal job-site physical stressors, cold, or flu. 

The JCBIA has plenty of professional, fully insured, legally licensed contractors, but should you choose to hire someone outside the association, please consider the following:

• Any project quoted at $30,000 or more requires a valid NC general contractors license.
• Projects less than $30,000 do not require a license. However, hiring a NC licensed general contractor may offer security in knowing that you have contracted with a general contractor who is authorized to perform work in NC. Ask for proof that the contractor is licensed and then verify at www.nclbgc.org; or call the JCBIA.
• Be wary of door-to-door repair solicitations or people who demand deposits or payments in cash.
• Contact your insurance company for guidance before beginning any work. Do not make a large deposit or upfront payment in full. Require a written contract that details the work to be done, materials to be used, a payment schedule that is based on completion of work and a timeline for work to be completed. A licensed general contractor is required to list their license number on all contracts.
• Do not make payments before work specified on the payment schedule is completed.
• Do not make payments for any work not specified in the contract unless it has been submitted and approved in writing by you before the additional work begins.
• Request a Certificate of Insurance from the contractor and verify it is valid by contacting the party who issued it.
• Contact the NC Attorney General’s office if you suspect you are being price gouged by the contractor at https://ncdoj.gov/file-a-complaint/price-gouging/ or call toll free within North Carolina at (877)-5-NO-SCAM or (877)-566-7226.

This year will mark the 7th consecutive above average hurricane seasons and National Oceanic and Atmospheric Administrations (NOAA) is forecasting a 65% chance of an above-normal season. This season is expected to produce a range of 14-20 named storms, 6-10 of which could become hurricanes. Hurricane season runs from June 1st through November 30th, marking peak season from August through October.