In light of all the winter weather that we've been having lately, I think the Caribbean may be looking more and more appealing. So, I thought I would briefly mention investing in Caribbean (and Central American) real estate with T. C. Lewis & Co this month.

When many people think about Caribbean property, images of sandy white beaches and lush tropical greenery may spring to mind. However, it is not just these pleasant images which make Caribbean property so appealing. There are many Caribbean property opportunities available which are tailored for investment and anticipated to generate substantial profits for astute investors.

For a Caribbean property to be tailored for investment, there are two important principles which must be followed.

Firstly, setup costs must be minimized to allow investment opportunities to be a viable option to most investors. Also, the less your setup costs are in comparison to profit, the higher your return on investment will be.

Secondly, profit must be maximized. To maximize profit on your Caribbean property, there are several factors which must be given due care and consideration.For example, many investors would require that their Caribbean property be fully managed to provide a healthy rental income. Therefore a management agency or company would ideally be setup to maximize rental occupancy, room rate charged and to fully manage the day-to-day running of the Caribbean property and surrounding land/site.

A favorable way for this to be setup is to buy a Caribbean property within a hotel or resort which is run by a well known and respected operator. This added brand name can greatly benefit the rental potential of your Caribbean property from day one.

Capital growth is also an important aspect to consider. Investors ideally need to conduct research to ensure that they are buying a Caribbean property which will experience sufficient demand for rental and for re-sale. This ongoing demand will ensure that property values will continue to increase and generate a substantial capital profit if and when the investor wishes to sell their Caribbean property.

There are many tax breaks to benefit from on your chosen Caribbean property. On some islands, there are no capital gains or inheritance tax to pay, making buying a Caribbean property a very attractive proposition compared to buying in other countries.

With due care and consideration, investors will be able to buy a Caribbean property which should adhere to all the above aspects and prove to be a profitable long term investment.

Visit TCLewisProperties.com/Projects for more information about current projects ripe for investment in the Caribbean right now.

*Dan Chamberlin contributed to this post.

Home Safety During the Holidays

I hope everyone had a fantastic Thanksgiving! The Holiday season is upon us, and for most it is a time full of joy, fellowship, and family. But the unexpected can and does happen. So, from stopping theft to preventing fires, here are a few tips from the experts that can help keep your family safe this time of year.

Fire safety comes with the territory of the holidays. Trees and lighting can both be dangerous if not done correctly. When selecting a real tree, be sure to buy one that is fresh. This means you should look for a fragrant tree that is a rich, deep green color. Also, the trunk should still be sticky with sap. Old trees are dry and brittle, and thus can be very flammable. To keep your tree fresh throughout December, be sure to keep it immersed in water at all times. If needles start to fall off, give it more water! For those with artificial trees, don't use electrical lights on metallic trees! And be sure to always turn your lights off you go to bed or leave the house.

Another fire hazard are those beautiful, twinkling lights. Every year's decorating should begin with checking light strands for cut or frayed wires. Also, be sure that lights are used as marked. Indoor lights are for use inside only. Outdoor lights are kept outside.

Next, don't overload your outlets. Three sets of lights to an extension cord is plenty!

Another looming threat during the holidays is home burglary. Thieves prey on those that travel during this season. To prevent thieves from targeting your home, you need to make your schedule unpredictable. That means keep your routine varied. Come home randomly for lunch one day a week. Leave for work at different times. And to give the appearance that someone is always home, leave on a tv or use lights that are on timers.

NEVER POST ON SOCIAL MEDIA THAT YOU'LL BE OUT OF TOWN OR AWAY FROM YOUR HOUSE FOR EXTENDED PERIODS OF TIME!

And as added measures of security, consider installing an alarm system, or having a house-sitter stay at your home or check on it periodically during your vacation.

Use these tips to have a safe and merry holiday season!

A Tale of Hypocrisy in Lending

There are tons of crazy things happening in the banking industry these days. If you've talked to a bank or mortgage broker about the possibility of a loan, line of credit, home equity loan, etc. then you know exactly what I'm talking about. There are tighter restrictions on consumers, which is not necessarily a bad thing. These restrictions aren't any tighter than they were 5-7 years ago before banks started handing out money to anybody that could sign a piece of paper- and at 100% LTV no less! The values of the properties being mortgaged were also totally inflated in a lot of areas in the United States. There should not be a case when a 3 Bedroom, 2 Bathroom, brick ranch with 2000 square feet built in 1967 should be selling for $735,000- that is unless it's sitting atop an oil field or diamond mine. So, property values were inflated and banks were making 100% loans to people on these properties.
At this same time, the Mortgage Bankers Association was purchasing a $53 Billion building in Washington, DC to serve as their new headquarters. They were growing out of their old space and were tired of leasing- they thought it would make a great investment. After all, I'm sure they knew somebody that would give them a loan : )
So, all was well, getting loans was easy, consumers were upgrading properties, and so was the Mortgage Banker's Association. THEN, there was the meltdown. Property prices began to correct and people were stuck with properties that they couldn't afford- properties that were worth less than the loan amount, and the owner(s) didn't qualify for refinancing.
These restrictions and problems for consumers getting approval aren't necessarily my concern in this entry- just the background for it- so I'll move on to my point. Consumers that were in the aforementioned situation began to analyze it, and some came to the conclusion that letting the property go into foreclosure was the best bet. They felt there was no way to overcome the lack of equity in their property, and they had to have some equity to refinance. They felt like it was a "rock and a hard place" situation, or an "up $%@t creek without a paddle," or any other cliche terms that you want to throw at it. The bottom line is that some saavy consumers figured out that it was the best move to make. Lenders weren't willing to work with consumers on adjusting the terms of their mortgage to allow them to stay in their property, and even began to pull guilt-trips on consumers who mentioned considering just letting the property go.

One of the biggest guilt-trips was when this practice of consumers letting their properties go into foreclosure started to become more widespread, and the head of the Mortgage Bankers Association released a letter to all consumers that told a big tale of how "mortgages were an obligation, and a promise to another." He went on and on about the importance of these agreements between consumers and lenders, and actually made reference to these responsibilites as "being one of the most important to the foundation of the building blocks of the American dream."
Well, things moved forward and were getting worse before they got better. So, the Mortgage Bankers Association decided to look at their own financial situation, the status of their building, it's loss in value, and inevitably decided to- YES, you guessed it- to allow it to go into foreclosure "because of a loss in equity that made the building a bad investment." They now rent a building two blocks over. They continuously refuse to comment on the move to everyone who inquires, and I guess it's like all other things, if they decline to talk about it long enough, people will start to forget about it
The hypocrisy in things - especially in big establishments like Banking never ceases to amaze...

Existing Home Sales Moving On Up / FHA Changes Minimum Credit Score

Existing-home sales rose in August following a big correction in July, according to the National Association of Realtors®. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual rate of 4.13 million in August from an upwardly revised 3.84 million in July, but remain 19.0 percent below the 5.10 million-unit pace in August 2009.


Lawrence Yun, NAR chief economist, said home sales still remain subpar. “The housing market is trying to recover on its own power without the home buyer tax credit. Despite very attractive affordability conditions, a housing market recovery will likely be slow and gradual because of lingering economic uncertainty,” Yun said.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.43 percent in August from 4.56 percent in July; the rate was 5.19 percent in August 2009.

Yun added, “Home values have shown stabilizing trends over the past year, even as the economy shed millions of jobs, because of the home buyer tax credit stimulus. Now that the economy is adding some jobs, the housing market needs to steadily improve and eventually stand on its own.”

The national median existing-home price for all housing types was $178,600 in August, up 0.8 percent from a year ago. Distressed homes rose to 34 percent of sales in August from 32 percent in July; they were 31 percent in August 2009.

NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said consumers have been getting mixed signals about the housing market. “People understand the good affordability conditions with stable home prices in most areas, but they’re concerned about the economy and speculation on Wall Street,” she said. “We need to stick with the facts about the long-term value of homeownership and avoid unrealistic assessments. Tight credit and slow short sales are ongoing problems – expediting short sales will help the market to recover more quickly.”

Total housing inventory at the end of August slipped 0.6 percent to 3.98 million existing homes available for sale, which represents an 11.6-month supply at the current sales pace, down from a 12.5-month supply in July.

A parallel NAR practitioner survey shows first-time buyers purchased 31 percent of homes in August, down from 38 percent in July. Investors rose to a 21 percent market share in August from 19 percent in July; the balance of purchases were by repeat buyers. All-cash sales slipped to 28 percent in August from 30 percent in July.

Single-family home sales rose 7.4 percent to a seasonally adjusted annual rate of 3.62 million in August from a level of 3.37 million in July, but are 19.2 percent lower than the 4.48 million level in August 2009. The median existing single-family home price was $179,300 in August, up 1.2 percent from a year ago.

Single-family median existing-home prices were higher in 10 out of 19 metropolitan statistical areas reported in August from a year ago (the price in one of 20 tracked markets was not available). Existing single-family home sales were down in all 20 metro areas from August 2009.

Existing condominium and co-op sales increased 8.5 percent to a seasonally adjusted annual rate of 510,000 in August from 470,000 in July, but are 17.1 percent below the 615,000-unit pace in August 2009. The median existing condo price5 was $174,000 in August, which is 2.8 percent below a year ago.

Regionally, existing-home sales in the Northeast rose 7.9 percent to an annual level of 680,000 in August but are 24.4 percent below August 2009. The median price in the Northeast was $260,300, up 7.6 percent from a year ago.

Existing-home sales in the Midwest increased 5.0 percent in August to a pace of 840,000 but are 26.3 percent below a year ago. The median price in the Midwest was $149,600, up 0.4 percent from August 2009.

In the South, existing-home sales rose 5.2 percent to an annual level of 1.62 million in August but are 13.4 percent below August 2009. The median price in the South was $155,000, down 1.5 percent from a year ago.

Existing-home sales in the West jumped 13.8 percent to an annual pace of 990,000 in August but are 16.1 percent lower than August 2009. The median price in the West was $214,700, which is 2.5 percent below a year ago.

COURTESY WALTER MOLONY, NATIONAL ASSOCIATION OF REALTORS (www.Realtor.org)

Additionally, On September 3, 2010, the US Department of Housing and Urban Development (HUD) released Mortgagee Letter 2010-29, Minimum Credit Scores and Loan-to-Value Ratios. This is in accordance with Federal Register Notice FR-5404-N-01, which proposes minimum credit scores and loan-to-value (LTV) ratios. So, we'll have to see what effect this new score guideline has on sales as we move forward. Here's the jist of it:

Effective October 4, 2010, borrowers with a credit score below 500 are not eligible for FHA-insured mortgage financing. Borrowers with a credit score between 500 and 579 are limited to 90 percent LTV, which requires a 10 percent down payment. Borrowers with a credit score of 580 or higher are eligible for maximum financing, which requires a minimum 3.5 percent down payment. Borrowers with nontraditional credit histories may be eligible for maximum financing.

Two Giant Leaps in the "Green" Direction

This last month has been very productive on the green building homefront.  We've made two giant leaps in the right direction!

First, we're very happy to announce that we have solidified a program with the city of Johnson City that will allow a person to apply for a green building permit for residential or commercial construction at a discounted fee rate.  Then, upon satisfaction of green building requirements, a green Certificate of Occupancy will be issued.  The city manager, Pete Peterson, the head of the building department, Phil Pinzola, and Herman Marcom, the head building inspector, have been fantastic to work with and should be commended for their efforts in working with us to get this program in place.  The proposal will land on the agenda for city council's approval in the September meeting, and the program should be off and running by the end of year - pending some revisions to the current permit computer system.

Second, we've made a proposal to the Northeast Tennessee and Southwest Virginia Multiple Listing System to implement "green" input and search fields into the system, and their response was, "Let's do it!"  That all sounds like a mouthful, but it basically allows for three important things: (1) the Realtor will have the ability to input green features of a property into the system (including type of certification), and (2) it allows folks searching for property to search using green features if they have an interest in doing so. And, most importantly, (3) it allows appraisers to begin to see documented value in green attributes of real estate.  On a side note, if you're looking for property, visit TCLewisProperties.com and click your region, then "Property Search" to input your specific search criteria.  Anyway, we're working out the final details of the proposal now and Karen Randolph, who serves as chair of the MLS Board, is anxiously awaiting to implement our green initiative.

Things are looking more and more green in the Mountain South, and it's fantastic!  We appreciate all who have worked on making these two big steps possible, and I'm always available to answer any questions about green building or real estate.  So, until next month, have a great September!

T. C. Lewis & Co. Project Getting Some Press

It's been a long time in the making for a certified, four-star rated, green community in Northeast Tennessee to begin to see light at the end of the tunnel.  Developer Cory Lewis started the project in 2006, and is now beginning to finish up infrastructure in the first phase with intentions of breaking ground on the first home in the community late this year.  "We've experienced a lot of obstacles with this project, some expected, some unexpected, and others self-inflicted, but we've rolled with the punches on it, and our plans have transformed to overcome problems.  Nobody said that developing green is easy, but it's just what we should be doing," says Lewis.  Carolina Cove is now a private community with eight lots in phase one, eight more in phase two, and twelve more in the final phase.  "We never lost sight of our overall vision of this community - especially the green aspects.  The low-impact development, the features and amenities that encourage folks to be outside, and the signature style have all always been at the forefront," explains Lewis.  The style is "rustic craftsman."  Lewis has coined the term after slowly starting to fuse the new with the old on projects while always keeping things traditional and timeless.  "We feel that what people, including my wife and myself want is a modest size and priced home that has a smaller carbon footprint, is less invasive, but has all of the amenities and technological features of a large, half million dollar property.  So, those are our intentions at Carolina Cove.  The homes will pack a punch with a lot of amenities for the money."  Home prices will start at around $200,000 and run up to just over $400,000, but according to Lewis the homes aren't the only part of the community that boast some big features for the money.  Carolina Cove welcomes homeowners with a private, gated entrance and a large waterfall made from boulders found on-site.  There is a walking trail throughout the property that runs roadside before dipping over into the green space at the rear of the community.  The walking loop is approximately a mile.  There are a couple of different native-landscaped, sitting areas for gathering with family or neighbors to take in the sunset and beautiful Boone Lake views.  The community features a cookout area for homeowners, along with a stone fire pit in the cul de sac.  "The entire community is certified green for its development, it's a certified wildlife habitat, all homes will be certified green, and we hope that the folks that choose to make Carolina Cove home will live green," Lewis adds.  Carolina Cove is located in Johnson City, Tennessee, and there is a ribbon-cutting and cookout planned for the opening of the community late this year.

-Anne Goepel, Living Green Magazine

Check out the video of coverage of the commuity under construction from CBS by clicking HERE

What's Eating Up All That Electricity?

Ever wonder where the biggest chunk of your utility bill comes from? It actually comes from your appliances. Surprisingly, the refrigerator is a huge chunk of utility bills. It's the chief energy guzzling appliance in your home, consuming a whopping 13.7% of house-hold energy, over 1000 Kilowatts of electricity a year, and nearly five times the electricity of a color TV - often nearly as much as a clothes dryer, freezer, and television combined - according to the U.S. Department of Energy. Luckily, newer Energy Star certified models will save you a bundle on utility costs. We often shut off the lights and turn down the heating and air conditioning to save energy, meanwhile, huge amounts of energy are escaping from the refrigerator door as we scour for a midnight snack.


But we are not the only ones to blame, as our out-of-date refrigerators are just as guilty. In fact, according to Energy Star, refrigerators from before 1990 use enough extra energy in a year (over a current Energy Star-rated model) to light a house for four months! Efficiency has been improved with better insulation, more precise temperature and defrost gauges, and more efficient compressors. And improvements have been continuous - models today realize nearly 40% savings in energy use over refrigerators in 2001.

What if you don't want to rush out and buy a new refrigerator? If you just bought a new refrigerator or weren’t planning on buying one anytime soon, I found a few simple steps from reliable sources that can reduce the energy consumption of your existing refrigerator:

• GET RID OF THAT SECOND AND RARELY USED ENERGY HOG LIVING IN THE BASEMENT OR GARAGE!

• Keep your refrigerator at a distance from heat sources such as the oven, dishwasher and direct sunlight so it isn’t working extra harder to maintain a cooling temperature.

• There should be ample space between your refrigerator and the wall or cabinetry behind it so that air can circulate around the condenser coils. And, make sure the coils remain clean so the compressor doesn’t have to work harder.

• Make sure the door seal is tight.

• Try not to keep the door open for extended periods of time.

• Defrost the freezer. Freezer build-up more than ¼ inch can affect the freezer’s efficiency.

• Keep the refrigerator temperature at 37 – 40 degrees Fahrenheit and the freezer at 5 degrees Fahrenheit.

I also found out about an odd suggestion that some of the more daring readers may want to try out. Be sure and let me know how this works. The suggestion is to fill as much empty space in the refrigerator with containers of water. It's supposed to reduce the amount of cold air drop every time the refrigerator is opened. Good luck on that one...

Anyway, where should I get my new refrigerator? Buying an energy efficient refrigerator doesn’t need to be a complicated task. But, given the savings in energy and cost for the modest premium in purchase price, it should be a relative no-brainer. According to Energy Star, the life cycle air pollution reduction of an Energy Star refrigerator is 1,434 lbs of CO2 or equal to .13 cars removed from the road. Annual life cycle cost savings is $72. With this said, buying a refrigerator that can help reduce energy consumption in your home is a good and green choice for your budget and for the environment.

All of the above is magnified when you consider commercial grade appliances and refrigeration units. The statistics on the improvements to those is equally (or exceedingly) staggering. And, don't forget to recycle (or properly displose of) your old refrigerators and appliances. Visit EnergyStar.com to find out where refrigerators can be recycled, or call your local city/county waste management office.

Energy Star Program Working - Let's Keep It Going

The U.S. Environmental Protection Agency (EPA) released a list of U.S. metropolitan areas with the largest number of energy efficient buildings that earned EPA’s Energy Star in 2009. The list is headed by Los Angeles, Washington, D.C., San Francisco, Denver, Chicago, Houston, Lakeland, Dallas-Fort Worth, Atlanta and New York. Energy efficiency saves building owners money and fights climate change.


These cities see the importance of taking action on climate change," said Gina McCarthy, assistant administrator for EPA’s Office of Air and Radiation. “Communities from Los Angeles to Louisville are reducing greenhouse gases and cutting energy bills with buildings that have earned EPA's Energy Star."

EPA first issued its ranking of cities with the most Energy Star labeled buildings last year. This year, Los Angeles remains in first place; the District of Columbia picks up second; Denver and Chicago move into the top five; and Lakeland and New York City are new to the top 10.

Continuing the impressive growth of the past several years, in 2009 nearly 3,900 commercial buildings earned the Energy Star, representing annual savings of more than $900 million in utility bills and more than 4.7 million metric tons of carbon dioxide emissions.

Since EPA awarded the first Energy Star to a building in 1999, nearly 9,000 buildings across America have earned the Energy Star as of the end of 2009, representing more than a 40 percent increase over last year’s total. Overall annual utility savings have climbed to nearly $1.6 billion and greenhouse gas emissions equal to the emissions of more than 1 million homes a year have been prevented.

Energy use in commercial buildings accounts for an estimated 17 percent of U.S. greenhouse gas emissions at a cost of over $100 billion per year. EPA awards the Energy Star to commercial buildings that perform in the top 25 percent of buildings nationwide compared to similar buildings. Thirteen types of buildings can earn the Energy Star, including schools, hospitals, office buildings, retail stores and supermarkets.

I've made this comment before, and I'll make it again - the National Green Building Standard Program's Bronze (minimum) level requires that a structure perform 15% more energy efficiently than Energy Star standards. So, with more and more folks building to the National Green Standard, we should see exponential savings in energy usage as we move forward. I would love to see a city like Asheville, one of the Tri-Cities, Boone, Abingdon, or Charlotte on the list as we all continue to push green building ahead. Great progress so far!

New Figures Released May Explain Rising Interest in Green

I was talking to a colleague and a client earlier today, and we were discussing how far “green conversations” have come in the Northeast Tennessee and Southwest Virginia area since this time last year.  It’s truly amazing to think about.  Subcontractors are much more knowledgeable and willing to learn, city/county officials aren’t turning a deaf ear to the conversations, and clients are now interested in all things green.  Some of these things are old hat for those of you in parts of Western North Carolina, but it’s very exciting to see the exponential growth of interest in East Tennessee!  I’m sure that part of the reason for the “new attitude” about green is due in part to the economic situation surrounding the real estate and construction industries – at least for the city and county officials.  When there’s not much going on, officials become much more open to a new idea that may spark some business and growth for their city/town or county.  However, I would like to think that a majority of the growth in interest in green is due in large part to the work of the Northeast Tennessee Green Building Council.  So, here’s a big pat on the back to any of you involved directly or indirectly with the council and getting the word out about green construction over the last year!

 

I also tend to think that some of the new figures that have been released really work to paint a pretty picture of the kind of impact that green construction and remodeling is having on the planet.  And, that can’t be bad for the movement!  According to Department of Energy reports, green homes built to the EnergyStar certification standard in 2009 were the equivalent of: Taking 51,645 vehicles off the road, saving 312,399,672 pounds of coal, planting 85,372 acres of trees, and cutting out 612,678,574 pounds of CO2.  I think those are staggering statistics – especially for techniques that can add as little as 1-3% to construction costs.

 

As a company, we build to the National Green Building Standard which has four certification levels (Bronze, Silver, Gold, and Emerald).  And, what I find really exciting is that the Bronze level of the standard requires 15% better energy efficiency than the EnergyStar certification that was used for the study.  If more folks build to the National Green Standard in 2010, we’re going to really start to reduce our impact on the planet!

 

I like where things are headed in the region where green is involved, and it says a lot that more and more folks are starting to understand that green construction isn’t just impacting the environment – it’s putting money back in the pocket of the consumer!

Hybrid Vehicles vs Energy-Efficient Homes

At this past weekend's 41st Annual Home and Garden Show in Johnson City, I had the opportunity to hear Jeff Christian with Oak Ridge National Laboratory (and UT professor) speak. I taught a seminar before him, and thank God for that. Had I gone after, I would have looked like even more of an amature. Anyway, Jeff has recently been appointed the head of a research project by Oak Ridge, TVA, and Vice President Biden to research the effects of improving energy efficiency in existing homes on the power grid. It was one of the most interesting angles on "green" that I have ever heard, so I thought I would mention it in this blog entry while I mix in a few thoughts of my own.

He started with talking about the power grid. One of the major problems throughout the country is that power grids are becoming more easily overwhelmed by demand. That leads to the need for more coal, more wind trubines, more solar panels, more everything. We've all heard of rolling blackouts in California, and they're becoming more frequent and occuring outside of just California at this point. Jeff talked about alternative energy/fuel sources, but beleive it or not, that wasn't his big concern. The reason for that not being his focus is that according to his research, we have to get demand under control and develop the ability to use our energy/fuels more efficiently before we start to further the development of alternative fuel sources. For example, it has been said that to use corn-based fuels for cars, every crop in America would have to be devoted strictly to fuel to meet the demand, and then it would still fall short. Cars, Jeff said, aren't the problem or solution at all. 71% of all the energy consumed in the country is by structures! That is an enormous amount, and producing a bunch of hybrid vehicles is not going to solve that problem. In fact, Jeff said that it will actually make things worse because all of those hybrids get plugged into the power grid to recharge. So, the entire research project is devoted to looking at the expense and amount of difficulty in retro-fitting homes and buildings for energy-efficiency to begin to reduce demand. Only when we get demand under control can we begin to look at alternative fuels. Then it will make more sense.

The research project is well underway, and some subject's power bills (for example) are down to under $1 per month after retro-fitting. So it's not just reducing the kilowatt hours used, it's also keeping cash in homeowner's pockets. Jeff went on to say that he has no doubt that over the next 8-10 years there will be mandates on homes to be energy-efficient to at least some set standard. It's important to note that it's already state-mandated in Oregon that homes meet a certain energy-efficiency requirement.

And, you know how new appliances have stickers on them that show consumers how energy efficient they are (or aren't)? That is coming for homes... At some point in the near future, you'll be able to check out the "stickers" on the homes that you're considering purchasing for a breakdown of energy, water, and construction/remodeling materials efficiency. And, if you want to have this ability before "some day in the near future," we have the ability to calculate this in our new construction and remodeling projects now!

The future continues to look bright and green, so if you're someone who supports (or disagrees with) the green movement, green building, and energy efficiency, please feel free to post questions or concerns.

Northeast Tennessee 2009 Builder of the Year

On Saturday night at the Holiday Inn ballroom in Johnson City, the Homebuilders Association held its annual Gala. Congressman Dr. Roe, Mayor Myron, some commissioners, and all the other folks whose business it is to hold babies and shake hands were in attendance, along with a couple hundred builders, developers, and guests. It was a great evening for catching up, talking a little business, eating, and kicking back a few drinks. To sum up the evening in short, Mr. Gerald Thomas (Thomas Construction), the incoming HBA President for 2010, gave a great speech about the successes of the association in 2009 under the leadership of outgoing President Bob Garrett (Atlantic Investments) at a time when the economy has been less than cooperative. Gerald also introduced Congressman Dr. Roe who was the keynote speaker and also installed the Board of Directors for 2010.

And, well, the title for this entry pretty much sums it up for the awards portion of the evening! It was a great surprise to my wife Haize and myself when Bob Garrett presented me with the 2009 Northeast Tennessee Builder of the Year Award. I appreciate the award, and I'm definitely humbled by it. I jokingly said afterward that maybe we won by default because so many builders are out of business now. But, seriously, it's great to be recognized for what you do and what you're passionate about. It has always been our belief that if we have a good (all-inclusive) plan going into every project, and we build or remodel something environmentally and professionally responsibly, and we end up with something where we ourselves would feel good about living or working, then we've accomplished something positive for the area. I feel as though we owe a lot to the folks that we work with daily- Haize of course, Adam Hendrickson, Dave McClelland, Rick Williams, Darrell Brummett, Ryan Williams, Rob Cookenour, subcontractors, and a lot of others who have helped to make our Construction and Remodeling Division what it is. We definitely couldn't have done it without our clients! And if you haven't worked with us before, we're always talking about our slogan The Standard of Comparison, and we take it very seriously- we do a great job.

We have pretty lofty goals, so by no means are we satisfied with where we are at this point, but it is great to be recognized. There's not a lot of productive insight or info for folks that I usually try to provide about real estate or construction in this entry. I'm just taking the opportunity to give all of our folks a big pat on the back. So, thanks again! It looks like that at least in 2009 our slogan has been validated as The Standard of Comparison in Construction and Remodeling.