Louisville Builder February 2012

HOLIDAY PARTY RECAP - ANNUAL AWARD WINNERS I BE A PART Of THE HBAL BRAND I LENDERS OPTImISTIC ABOUT fINANCINg

THE OffICIAL PUBLICATION Of THE HOmE BUILDERS ASSOCIATION Of LOUISVILLE, INC. VOLUmE 25, NO.02 fEBRUARY 2012

Find expanded content and connect with others!www.Facebook.com/HBALouisville

PAT DURHAMBuilder of the Year:

2 louisville builder • hbal.com

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feature2011 HBAL Holiday PartyThe Home Builders Association of Louisville hosted its Annual Holiday Party on December 2, 2011 at the Hyatt Downtown Louisville. Nearly 300 members and local elected officials turned out for the festivities which included the presentations of annual awards and the installation of the 2012 Executive Committee and President Rob Eberenz Jr. page 6

contents

THE OFFICIAL PUBLICATION OF THE HOME BUILDERS ASSOCIATION OF LOUISVILLE, INC.

vol. 25, no.02 february 2012

productsWindows & FireplacesProducts every member should know about. page 21

events2012 Home, Garden & Remodeling ShowNew Slant on a Favorite Traditionpage 12

association news

16 Lenders Optimistic, but Realistic and Cautious About Financing

20 Be a Part of the HBAL Brand

16 HBAL Office Building is now also home to Bardenwerper, Talbott & Roberts Law Firm

departments

HOLIDAY PARTY RECAP - ANNUAL AWARD WINNERS I BE A PART Of THE HBAL BRAND I LENDERS OPTImISTIC ABOUT fINANCINg

THE OffICIAL PUBLICATION Of THE HOmE BUILDERS ASSOCIATION Of LOUISVILLE, INC. VOLUmE 25, NO.02 fEBRUARY 2012

Find expanded content and connect with others!www.Facebook.com/HBALouisville

PAT DURHAMBuilder of the Year:

Perspective Letter ..............................5

Member Meetings ...........................25

Member News .................................26

New Members .................................28

Milestone Members ........................28

Corporate Sponsors .........................28

Honor Roll ......................................29

Calendar of Events ..........................30

Cover: Your 2011 General Elmus S. Ussery Builder of the Year winner Pat Durham.


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Home Builders Association of Louisville, Inc.1000 North Hurstbourne ParkwayLouisville, KY 40223-4012(502) 429-6000FAX (502) 429-6036Email: [email protected] Site: www.hbal.com

2012 OFFICERS

Rob Eberenz, Jr.President

Bob Thieneman, Jr.Vice President

Perry LyonsTreasurer

Pat DurhamSecretary

Stan Logan, Jr.Associate Vice President

Charles J. KavanaughExecutive Vice President

BUILDER DIRECTORSBrandon Bailey Greg Burrus Terry ChynowethMichael Isaac Don KaremP. R. LancasterDavid LurdingJeremy McGrawGeorge Miller Jason OrthoberChris OsborneRocco Pigneri Mark SimpsonDave Smith

ASSOCIATE DIRECTORSDeborah BilitskiJoe DumstorfDave FrenchDale HellmannAndrew HoldenJohn HollenbachStephanie HorneJohn LannertDavid MikelsDavid MindelTeresa MorganJeff RatanapoolJoe Simms

HONORARY BUILDER DIRECTORClifford Thieneman, Sr.

HONORARY ASSOCIATE DIRECTORSFrank Arnold, Sr.Richard Bean

PUBLISHERCharles J. Kavanaugh

EDITORTara Brinkmoeller

ADvERTISINgMelissa MattinglyKimberly Greenwell502.429.6000

gRAPHIC DESIgNScott Dudgeon

WRITERSStacy Smith Rogers HBAL IssuesNancy Miller Product FeaturesHBAL Staff

PRINTINgUnited Graphics

The Association is conducting an advertising and pro-motion campaign this year and kicked-off the inter-nal component during Table Top Night by unveiling a new “Do Business with a Member” logo. For years, our Associate members have been the largest group to tout the “Do Business with a Member” message, but in the downturn of the economy I believe that all members have begun to realize the importance of sup-porting and patronizing fellow members’ businesses.

We are all consumers of home-related products and services – both in our business and personal lives - so it only made sense that we re-energize our en-tire membership and promote doing business with a member. Using Table Top Night to introduce this internal component of our plan, which will last the entire year, fit perfectly into this event since it is ad-vertised based on these same principles. Table tents with the “Do Business with a Member” logo were given away at the event and continue to be available at the office. Large signs and a banner with the new logo were also on display at Table Top and will be used throughout the year at other member-oriented events. We encourage you to place the “Do Business with a Member” logo on bids to fellow members remind-ing them of your membership, or on fliers or other business-to-business promotional materials. The use of the new logo will serve as a friendly reminder and a way to identify those businesses with which you should conduct business.

“We encourage you to place this logo on bids to fellow members reminding

them of your membership,”

HBAL decals were also given away during Table Top Night. We encourage you to display your HBAL member logo decal(s) on your vehicle, as well as at your place of business for the general public to see. Consider picking up several decals to give to your employees and ask them to display them on their vehicles as well. Later this year we will extend our advertising and PR

campaign to the general public and encourage them to shop and hire those businesses displaying our logos. All decals and digital logos are free to members in good standing. Simply come by or call the office in order to receive yours.

Website Redevelopment UpdateAs you are aware the association is undergoing a website redesign project. Ultimately the goal of the project is to better serve our customers – you, our members – by providing opportunities to connect you with business, as well as make it easy for members to find one another in order to do business with other members. As we have been moving through the proj-ect milestones, we realized that in order to provide the functionality in search, updating, and other member services, it is necessary to expand the breadth of our project to address the Membership Management Sys-tem that will integrate with the website. This new addition to the project means that we will not be able to launch the site within the time-frame that was originally proposed. We are going to add roughly six weeks to the project timeline so that we can completely integrate our new system and pro-vide a much easier and user-friendly experience for our membership, as well as generate efficiencies for our staff to better be able to service members. I’m sure you would agree with the Executive Com-mittee and myself that delaying the website in order to better satisfy our customers upon launch, while si-multaneously improving efficiencies within the office, is the right business decision. We’re excited about the changes taking place and the service that we will be able to provide in the near future. I apologize for the delay in the project launch, but I think you will agree when we do launch in April that the new site is worth the wait.

Charles J. KavanaughExecutive Vice PresidentHome Builders Association of Louisville

Internal Advertising and PR Campaign Kicked-Off

at Table Top NightBy CHUCk kAVANAUgH

perspectiveletter

HBAL.COM

FACEBOOK

Visit our Facebook page for more from Chuck Kavanaugh and to give us your feedback.

http://www.facebook.com/HBALouisville


Holiday Party2011

The Home Builders Association of Louisville hosted its Annual Holiday Party on December 2, 2011 at the Hyatt Downtown Louisville. Nearly 300 members and local elected officials turned out for the festivities which included the presentations of annual awards and the installation of the 2012 Executive Committee and President Rob Eberenz Jr.

For the first time ever a Past President of the HBAL swore in his son as the current President of the Home Builders Association of Louisville. A very proud Rob Eberenz, Sr. officially swore in his son, Rob Eberenz, Jr. as the 2012 President and shared many kind words about his son’s abilities and leadership qualities. Rob Eberenz, Sr. also installed the incoming Board of Directors during the Holiday Party.

Throughout the evening well-deserving HBAL members were honored for their individual achievements within the Association. HBAL modified its award presentations this year to include the use of videos to showcase the qualifications of the award recipients. The videos added a fresh look and feel to the evening and were enjoyed by all.

Many thanks to our generous sponsors, including:

VIP Reception Sponsor: Dinner Sponsor: Wine Sponsor: Dessert and Coffee Reception: Sports Center Sponsor:

Picture Sponsors:

John Lannert Financial Consultant

7 february 2012


2011 Holiday Party

Outgoing 2011 HBAL President Billy Doelker passes the president’s pin onto 2012 HBAL President Rob Eberenz, Jr.

2012 HBAL President Rob Eberenz, Jr. addresses the crowd.HBAL Past-President Rob Peterson with Cliff Thieneman, Sr. and Rob’s wife Sharon.

HBAL Vice-President Bob Thieneman with Bill Wilkinson and Bob’s wife Beverly. 2012 HBAL President Rob Eberenz, Jr. receives a hug from his Dad, 1981 HBAL President Rob Eberenz, Sr.

9 february 2012

2011 Holiday Party

Richard Bean with Michael Griffin.

HBAL Executive Vice-President Chuck Kavanaugh with the iPad winner Sondra Esposito

Your 2012 Board of Directors and Executive Committee.

HBAL.COM

FACEBOOK

Visit our Facebook page to watch 2012 HBAL President Rob Eberenz, Jr.’s Holiday Party Speech.

Watching UofL beat Vandy thanks to Century Entertainment.

Everyone enjoying the dessert/coffee bar thanks to Window World.

http://www.youtube.com/watch?v=ZPMWhDwGXZo&feature=youtu.be


2011 Holiday Party

The much anticipated announcement of the 2011 awards added excitement to the festive atmosphere of the event and recognized some well-known names in the HBAL community.

And the winners were ....

Pat Wissing, Wissing Contracting Company Remodelor of the Year Award, which is HBAL’s highest honor for remodelors.

Jeremy Esposito, Esposito Construction Howard C. Reeves Memorial, which was inaugurated in 1965 to recognize excellence in

membership development, in memory of a past president, the late Howard C. Reeves.

Tom Raver, Fireplace DistributorsAssociate of the Year Award, which is HBAL’s highest honor for associate members.

11 february 2012

2011 Holiday Party

Pat Durham, Durham Built Homes Elmus S. Ussery Builder of the Year Award, which is the highest honor the association can bestow upon a builder and

symbolizes the recognition of one of the industry’s most revered members, General Elmus S. Ussery, who passed away in 2006.

Michael S. Griffin John W. Robinson Lifetime Achievement Award, which recognizes an individual who has made significant contributions to the home building industry throughout the years

HBAL.COM

FACEBOOK

Watch videos about all the winners on our facebook page!

http://www.youtube.com/watch?v=MqegHn34Gy8&feature=youtu.be


For more than 60 years, HBAL has welcomed the spring season to the Greater Louisville area with the Home, Garden & Remodeling Show. For the second year straight, the event is presented by Window World, and it will offer consumers a new slant on a tradition they look forward to every year. LG&E is a presenting sponsor. The 2012 Show gives members plenty of opportunities to connect with an engaged public, many of whom have been waiting for just the right time to invest in their home improvement project. Plans are in the works to create a Home Show experience that will enlighten attend-ees and aid participants in promoting their businesses as well as the value of hiring HBAL members. The association has strate-gically devised a three-year plan to position the HG&R Show as a destination for home-

owners and to reflect the wants and needs of today’s consumers. A major goal is to estab-lish the event as a must-experience resource for home-related needs in the region.

What Advantages Does Participating in the HG&R Show Offer Members?

The Home, Garden & Remodeling Show presented by Window World gives members the opportunity to see what their competi-tion is doing and how consumers react to products and services currently available in the industry. The audience is a defined mar-ket of interested consumers who attend the event in search of ideas to improve their homes. HBAL works hard to promote the Home Show to prospective consumers who are likely to invest in their homes. The asso-

Sponsored by: Produced by:

Mark your Calendars March 2-4, 2012

kentucky Expo Center

2012 Home, Garden & Remodeling Show presented by Window World

Offers a New Slant on a Favorite Tradition

By Stacy Smith Rogers, Grace Communications, LLC

13 february 2012

ciation invests time and money in an aggres-sive marketing and PR plan that results in numerous radio and TV interviews and sig-nificant coverage of the event. Members who participate can piggyback on these efforts and gain more awareness of their own busi-nesses simply by being there. Along with the popularity of the Home, Garden & Remod-eling Show presented by Window World, comes a level of prestige that accompanies being associated with the event. Members who participate are encouraged to capitalize on that affiliation with the association and promote the fact they are part of the Home Show throughout the month of February. Vendors recognize the value of partici-pating in the Home, Garden and Remodel-ing Show in regard to making connections with potential customers. They realize that consumers are more thorough about choos-ing who they do business with, often visiting multiple showrooms and talking to several different retailers. Today’s buyers are looking for products that will outlast and outperform others on the market and the best way they can learn about that is to speak to experts in the field. The Home Show offers that one-on-one connection, which also allows vendors to better explain the new product offerings.

Show Details:

March 2-4 at the Kentucky Expo Center’s South Wing B & CFriday & Saturday: 10 a.m. to 9 p.m. and Sunday: 10 a.m. to 5 p.m.The ticket gate closes one hour prior to the Show closing times listed.

Admission: Tickets, $10. Senior Citizens, $9. Children 15 & under are free with an adult. Credit Cards are not accepted.

Check www.louisvillehomeshow.com and the facebook page for daily “Buy One, get One Free” offers.

Online Purchasing Option: Consumers can purchase their tickets online at louis-villehomeshow.com. Included with the online ticket purchase is a subscription to Better Homes and Gardens (a $6 value).

Member Tickets: $4 at the HBAL office

Parking: Parking at the Kentucky Exposition Center is $8. The Home, Garden & Remodeling Show will run trams from the parking lot during Show hours.

2012 Home Garden & Remodeling Show


2012 Home Garden & Remodeling Show

HBAL Vice President of Events and Op-erations Gail Schell advises members to con-sider the Home Show as a way of entertain-ing and educating current clients. With the one-stop shopping advantages offered with having so many vendors in one location at one time, Schell encourages members to take their clients to the Home Show. “This is a great opportunity for members to treat their clients to an experience that enlightens con-sumers about what products and services are out there to help them achieve their home building or remodeling goals. If people can touch and feel these products and meet the people who provide the services, they can be more prepared to make an investment. In addition, builders and remodelers can escort their clients by walking the Show floor with them. That kind of VIP treatment would be something they tell their friends about

and more than likely would get them very excited about the services or products they are considering for their home remodeling project,” Schell explained.

What New Experiences Will Be Offered?

According to Gail Schell, there are several new additions in the works that will enhance attendees’ experience. The Disc-Connected K9’s World Famous Frisbee Dogs is ex-pected to make their first appearance at the Home, Garden & Remodeling Show. In addition, surrounding companies will of-fer event-goers opportunities to outfit their homes for their pets and help create a home atmosphere that’s safe and fun for their furry companions. Schell said an additional focus on home gardening is planned as well.

“If people can touch and feel these products and meet the people who provide the services, they can be more prepared to make an investment.”

- Gail Schell

15 february 2012

LouisvilleHomeShow.comFor more information on the benefits of participating in the show, visit www.lou-isvillehomeshow.com. The website offers valuable information for participants and consumers alike. It also offers an additional marketing opportunity for participat-ing vendors, with the ability to link to the site and emphasize their products and brands. Viewers often research the vendors ahead of time online and come back to the website to reference important information about companies they encountered at the Show.

5 Ways Members Can Help Make the Show a Success

1. Spread word about the Show through face-book, twitter and other social media outlets and make sure to include the www.louisville-homeshow.com link in their efforts to com-municate with consumers.

2. Promote Show dates and times to clients through regular communication and on your websites, with messages such as “See You at the Home, Garden & Remodeling Show March 2-4!” 3. Treat clients to the event by purchasing their tickets ahead of time and inviting them to enjoy a day in search for products and ideas for their home. 4. Display your HBAL logo at your place of business and on your trucks or cars.

5. Come out to the Show with friends and family and see how your fellow HBAL mem-bers are promoting their business and the building industry.

The Home, Garden & Remodeling Show presented by Window World is guaranteed to offer consumers an enthusiastic glance at the

latest home-related products on the market. With a layout designed to allow for simple navigation to vendor booths, the Home Show is positioned to easily connect vendors with consumers, many of whom have been wait-ing until the economy was more stable be-fore they made the decision to invest in home products. The Home, Garden & Remodeling Show offers consumers the ideal venue to shop for numerous home-related products and to be able to compare prices all under one roof. For more info and up-to-date listings of vendors, visit www.louisvillehomeshow.com.


John Lannert, Investment Adviser

The housing industry is closely tied to the overall economy. Without job growth, it’s going to be difficult for the housing market to gain traction. I think given the uncertainty of the upcoming election, strategic decisions will be postponed until there is some politi-cal clarity in Washington. In the meantime, the economy will continue to lurch along with modest growth during this year. In relation to many types of situations, financial advisers are operating under an in-creasing number of restrictions. The courts are trying to decide if an adviser bears re-sponsibility if a client suffers a loss.

Jeff Ratanapool, PresidentCentury Mortgage Company

Every mortgage decision is based on the Four Cs of lending: capital, the amount of money a borrower has for a down pay-ment or reserves; capacity, the borrower’s income, whether the payments will fit into the monthly budget, the actual worth of the house, and whether the deed is free and clean; credit, the predictability of the buyer repaying the loan based on history of past loans and mortgages, and collateral. Borrow-ers don’t really have any control over the col-lateral itself, but they do have to cover the other 75% of the Four Cs. Whereas in the past there was more al-

lowed to happen outside the box, and a bor-rower was likely to get credit if he had a high credit score, in today’s market, each one of the Four Cs has to be met. Now is the perfect scenario in which to buy a house. There’s still a chance to buy at low market value, a buyer can get money cheaply, and the house can appreciate as the market returns. The borrower just has to be able to withstand the test and all the re-quirements of the loan application. The key is for people to know what to expect before they start. It isn’t about all the horror sto-ries people may hear. As long as the buyer is prepared with documentation, it can be a pretty simple process. Before considering the purchase of a house, it’s important to

Lenders Optimistic, but Realistic and Cautious About Financing

by: Nancy Miller

As the economy shows signs of recovery and the home building industry looks forward to a rebound, lending institutions are offering both new financing programs, while at the same time

placing more stringent requirements on some lending. Several Louisville lending professionals share their candid observations and discuss opportunities with Louisville Builder.

17 february 2012

get preapproved through a mortgage lender. That involves having the lender running the potential buyer’s credit. The borrower will need to supply pay stubs, W-2, the last cou-ple of months of bank statements or some-thing to prove where the down payment will come from, and if self employed, the last two years of tax returns. It should be noted that we verify that the income is actually what is filed with the IRS. There are some credit score minimums for all loan programs, so un-derstanding what they are before starting the process can be helpful. If the minimum credit requirements aren’t able to be met, there are avenues to pursue to improve credit. Fannie Mae and Freddie Mac started the Loan Quality Initiative. Previously, certain verifications were required post closing. The thought was that so few people would de-fault that it wouldn’t be an issue. But getting people out of a house is a lot harder than getting them in. As a lender we will monitor the borrower’s credit all through closing to make sure they didn’t do anything to change their credit profile. Once the offer is in and the contract is written, the actual loan process starts. The bank will verify and reverify the information that was submitted for preapproval. Federal regulations that are now in place are more positive to consumers to ensure they’re knowledgeable of the loan deal they’re getting from the lender. The borrower will receive a Good Faith Estimate (GFE) that details things such as estimated closing costs, including the lender’s charges as well as the local closing agent’s charges and fees, and estimated costs for real estate property tax and homeowner’s insurance. In Kentucky and Metro Louisville there are several down payment assistance pro-grams that will aid first and second time home buyers. What does the future hold? I predict rates will stay in the same general area as they are now for the next 12 to 18 months. The over-all feeling is that the real estate market will return, but it will be a slower process. Real estate is still a great investment. If you look at history, you can count on real estate to provide a return. It’s a matter of finding the right property and getting the right mortgage

terms. That’s helping the economy, for sure.Businesses are just waiting for a change of guard to invest in the economy again. Under the current administration there are heavy rules and regulations that may clog the sys-tem. I’m not suggesting that we go back to the Old West and gun slinging days, but let’s help businesses move forward so we can hire and grow.

Tim Root, Vice President, Marketing & Business DevelopmentLinda Snodgrass, Vice President of LendingL&N Federal Credit Union

Most people are aware of mortgage rates that are at historic lows. With rates helping make a new home purchase more affordable, what else is available to “cushion” one of the biggest transactions most people make?For a limited time, L&N closing costs on an adjustable rate mortgage are $850. In addi-tion, L&N offers a number of programs for homebuyers that include: Welcome Home Grant – a $5,000 grant that can be used for closing costs, prepaids and down payments. Funds are usually avail-able around March 1 of each year and are offered on a first come, first served basis until funds run out, generally in June of the same year. Borrowers qualify based on household income, number in household and the coun-ty the property is in. The maximum grant amount per household is $5,000. Borrowers must contribute at least $500 of their own funds and may apply for the grant once they have an accepted purchase contract. If the borrower is a first time home buyer, home-buyer counseling is required. Property pur-chased must be the borrower’s primary resi-dence, and the homebuyer must live in the home for at least five years. Norton Healthcare Grant – Certain em-ployees of the Norton Healthcare system are eligible for a $5,000 grant. First Time Home Buyers Program – a fixed or adjustable rate loan program offered by L&N for first time buyers with perks such as no PMI, no origination fee and more. The program is designed for one family, owner occupied properties. L&N will finance up to 95% of the purchase price or appraised value,

whichever is less. The 5% down can be in the form of a gift. The program offers lower clos-ing costs than conventional loans. There is a maximum loan amount of $175,000. Non-traditional credit can be used if the borrower has little or no credit reporting to the credit bureau. Homebuyer counseling is required.

Chris Steiner, Regional Manager of Mortgage LendingRepublic Bank & Trust

Refinancing is where the biggest changes have occurred, where the action is because new home sales are still soft. TARP had an immediate effect but then the market fell back down. We’ve seen that the people who took advantage of the tax credit likely lost that in depreciation in the last two or three years. So all that money the government spent is probably lost. But overall, for the purchase market, most first time homeown-ers will focus on FHA or VA loans. With the expansion of Ft. Knox, we’ll probably see even more VA loans.

“The Louisville Metro Housing Authority also has a home owner-ship program or qualified buyers. So, there are myriad programs to assist with the purchase of a home

for little or no money down.”- Chris Steiner

Kentucky Housing Corporation pro-grams assist both first time and repeat home buyers. Sponsored by the state government, the programs basically buy and insure the loans. They usually set the rate once a month, whereas secondary market rates can move daily. The Louisville Metro Housing Au-thority also has a home ownership program or qualified buyers. So, there are myriad pro-grams to assist with the purchase of a home for little or no money down. Trying to earn more in the monthly in-surance programs to offset higher losses they’re seeing in their portfolio, the FHA has increased fees for mortgage insurance. It’s the same thing that the secondary mar-

“Now is the perfect scenario in which to buy a house. There’s still a chance to buy at low market value, a buyer can get money cheaply, and the house

can appreciate as the market returns.”- Jeff Ratanapool

Lenders Optimistic About Financing


ket is doing. Freddie Mac and Fannie Mae have added credit indicator fees, called risk based pricing fees, which essentially look at the credit score and the equity. The lower the down payment and lower the credit score, the higher cost to obtain a loan. We’re seeing appraisals coming back low-er and lower, often less than what is being offered. Typically we have looked at three comparables when considering a potential loan. There are now many foreclosures or short sales or individual situations in which people just want to get out of the ownership of the home and walk away. But there are very few traditional transactions, so when an appraiser tries to find a normal sale, it’s very limited. The appraiser is our expert. We don’t set the value of the property. An appraisal is only an opinion of value. But once we have that value we can’t put up another appraiser against the first appraiser to get the value we need. Now all appraisals have to go through a third party entity that orders the appraisal. We have no contact with the appraiser any-more. One of the problems that led to this change was that appraisals were overinflated. People were buying and selling and flipping. Appraisals were coming in higher and high-er so people could get their value. In the early days of lending you had to have money down and good credit. That’s what we’re back to now, and that’s positive. We used to have all kinds of hybrid types of loans and unique programs. If you had a heartbeat you could get a loan. There isn’t a lot of consumer confidence for purchasing, but with low rates we are seeing refinancing. Buyers may wait until the economy recovers. The positive news is that someone might take a loss on their home, but on the other hand, they’re able to take advantage of historically low rates and are getting an advantage on what they’re buying.Now the problem is that there’s such a need for jobs. If people have jobs they can buy houses. If they don’t have jobs, they’re not going to buy. So because of the rate of unem-ployment many people can’t take advantage of low rates. Several things are happening in the home building industry. First, inventory is pretty much gone. Second, the good builders, the ones who built good homes and didn’t build a lot of spec homes, are still around. Third, a

lot of subcontractors may have reduced their prices, so maybe it’s cheaper to build than before, but the cost of materials has gone up. And, builders can still get loans but it’s tougher to get a spec loan. If you’re a builder who has a qualified buyer and you have a contract, you can get a construction loan. We just don’t want a builder building six homes and not be able to sell them. For builders, there aren’t really new programs. It’s usually a standard construction loan. We generally lend 15 to 20 percent of the cost to build. But it depends on the builder. Although retail is strictly structured, the commercial lending is not as regulated. As far as the presidential election is con-cerned, I don’t think it will drive the mort-gage industry per se. But Congress can drive it by regulating. The Dodd-Frank Act was the most significant bank regulation in his-tory. That can dictate markets. As far as rates go, they’re more driven off the economy and the bond market. What we need are jobs. If a president comes in with a jobs plan, that’s when we’ll see the housing market turn. If unemployment gets into the 4 percent range, people will start buying houses. Right now, a guy working two or three jobs won’t feel comfortable buying a house, and as a lending institution, we don’t see that he has stability. I think we’ll start to see fewer foreclosures, but we have to get through the glut of homes on the market. But you can’t find buyers un-less they have jobs. Rates aren’t what it’s about if there aren’t people who can take ad-vantage of them. The low rates now are only helping the people who can get a loan no matter what, not the buyer who needs a job to buy a home. Often you hear people say that adjustable rate mortgages were at the root of the problem. But that’s not true. It was people losing their jobs. Most people stay in their house 7 to 10 years, maybe 5 to 7 years. It’s rare to have anyone come in after 30 years to make their last payment. So, why pay fees for a 30 year fixed rate loan if you’re only going to be in it 5 years? There’s the saying about Japan having lost a decade when not much was happen-ing. We’re probably in our own fifth or six year. We might have a few more years to go through. But we’ve seen some bottoming out and are starting to see an uptick.

Brian Webb, Senior Vice President, Commercial Real Estate LendingCitizens Union Bank

Requirements for commercial loans have be-come much more stringent. This is an area regulators and bank examiners have really honed in on. As a lending institution, we look for what the capacity of a borrower is to repay in case the home doesn’t sell quickly. What kind of staying power do they have to keep paying the interest for six or nine months or a year? Borrowers in this environment need a strong secondary source of repayment. If a builder comes to us for a loan and the only way to repay it is by the sale of the property, it will be difficult for him to get the loan. Back in the heyday of the market when homes were selling as quickly as they could be put up, the secondary source of payment wasn’t as important. Maybe we should have paid more attention to it. There aren’t really special programs for builders and developers. But, we are doing construction loans, especially contract con-struction loans, and we’ll gladly entertain speculative construction loans to any builder that wants to build in a development that we have financed. My advice is to build desirable homes and quality developments. The key is to find a niche or price range. If a builder has several spec homes that haven’t sold, the chances of getting additional financing will be lessened. Hopefully, when builders come to us they’ve done their homework and know what type of home is selling within a reasonable time frame wherever they’re going to build. We’re looking for borrowers that have a well de-fined plan and goal. We want them to tell us their marketing plan, why the house will sell and outline alternative sources of repayment if the house doesn’t sell. I think there will be a turnaround in 2012, but not a swift turnaround. I think the market will continue to get better. The in-ventory out there for buyers is continuing to reduce. There aren’t as many builders as there were five years ago, so supply and demand will eventually catch up with each other.

“My advice is to build desirable homes and quality developments. The key is to find a niche or price range.”

- Brian Webb

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Perhaps middle schoolers have it all figured out. Brands are every-thing. Many of them are very experienced at convincing their moms and dads to recognize the power of brands. After all, they seem to walk a little more confidently in overpriced footwear with brand name tags, right? This year, HBAL members might find themselves actually tak-ing a few steps in the direction of their junior advisors, adopting the motto, “If you have a brand that’s valuable, wear it with pride and confidence.” In a sense, that’s what the association is asking its members to do ... wear the HBAL brand label proudly for all Greater Louisvillians to see. Unlike your pre-teen counterparts, you didn’t just pay for your membership, you earned it. That’s all the more reason to display the HBAL brand for prospective clients to see.

Internal Campaign Kicks Off at Table Top NightAccording to HBAL leadership, members can participate in the year-long advertising campaign by simply promoting their affiliation with the association and helping spread the word to consumers to “look for a logo.” As the second largest association in the country, HBAL has a unique opportunity to be very effective in promoting the integrity of its members simply by asking them to sport a logo. HBAL Director of Communications and Public Affairs Tara Brinkmoeller encourages members to use the HBAL logo on per-sonal cars, fleet vehicles, storefronts, business cards, websites, adver-

tisements and more. “With 2,100 members in the community and fleets of cars, trucks and vans, our logo should be everywhere if ev-eryone participates,” she said.

“One of the benefits of membership and a reason to participate in Table Top Night is that the major-ity of members of HBAL are also consumers of the products and services offered by fellow members,”

- Chuck Kavanaugh

Beginning with Table Top Night, the association will spend the first several months of the campaign focusing on internal members. In addition to promoting using the HBAL to show a businesses’ affiliation with the Association, we will also kick-off a campaign to promote doing business with other members. “One of the benefits of membership and a reason to participate in Table Top Night is that the majority of members of HBAL are also consumers of the products and services offered by fellow members,” explained Chuck Kavanaugh, Executive Vice President of HBAL. “I think most of our members take for granted that the businesses they use are members, so by focusing a campaign around ‘Do Business with a Member,’ I believe we will heighten the awareness of its importance and be able

Be a Part of the HBAL BrandMembers Invited to Join in Year-Long Branding Effort


21 february 2012

to generate additional business for all of our membership. Although “Do Business with a Member” has been a tagline touted by Associa-tion members for decades, we plan to re-emphasize and reinvigorate this notion by unveiling a new logo to promote action at Table Top Night. “The Associate membership is best known for its promotion of doing business with fellow members, but I believe by creating this new logo and generating more awareness of the benefits of support-ing fellow members we will broaden the support of this sentiment throughout our entire membership base,” said Stan Logan, Logan Lavelle Hunt Insurance and Associate Vice President.

“The Associate membership is best known for its promotion of doing business with fellow members, but I believe by creating this new logo and generat-

ing more awareness of the benefits of supporting fellow members we will broaden the support of this sentiment throughout our entire membership base,”

- Stan Logan

These two concurrent internal campaigns will support the success of an external campaign planned for later this year. As more mem-bers begin to use the HBAL logo and its visibility increases through-out the community, two things will occur: first it will be easier for fellow members to know with which companies to conduct business, and secondly the external messages will resonate more quickly and will be more effective if consumers don’t have to work hard to find members.

Ad Campaign Gives Members’ Businesses a BoostBeing a member of HBAL has never been more important. With a year-long advertising campaign underway, members can expect to see more community awareness of what it means to hire a member

How Can You Get a Logo?Members can pick up their FREE logos at HBAL. They are encouraged to place them on storefront doors, cars and to offer logos to employees to place on their cars. In addi-tion, they are encouraged to place the logo in their adver-tising and on their website. For digital files, contact Scott Dudgeon at 429-6000 or [email protected].

What Primary Messages Will Be Promoted to Consumers? Look for a Logo and Do Business with a Member -- the public will be encouraged to search for the HBAL logo when considering home-related investments and to do business with HBAL members. The HBAL logo exemplifies professionalism, locally-owned businesses and knowledgeable industry professionals.

of HBAL. According to Brinkmoeller, the message is simple. “We will highlight the fact that the majority of HBAL members are local businesses and professionals, and we’ll emphasize the importance of doing business with our members,” she said. Brinkmoeller also said they campaign will communicate the value of time and money in regard to new construction. “We’ll emphasize the amount of time and money it costs to purchase and fix a foreclo-sure and/or short sale is typically more or the same amount time one could build a newly built home. Other messages will emphasize new home communities and member’s products and services, as well as how to easily find them online at HBAL.com. Through affiliation with HBAL and the anticipated success of the ad campaign, members can potentially increase their business and achieve recognition of being part of an association that his highly respected both nationally and locally.

Members Can Help Plant the Seed in Grassroots Marketing of the HBAL Brand CampaignWe might learn a thing or two from all those pre-teens whose Christmas lists were fulfilled in December. Other than their abil-ity to post photos of themselves to facebook.com faster than most parents can text a reminder to get their chores done, they might be on to this whole grassroots marketing thing, without even knowing it. When they find a brand they believe in, they embrace it with enthusiasm. And, soon after, their friends want to do the same. The HBAL brand is more than just a fashion statement. However, before communicating all that it stands for and the importance of having earned that brand, the logo itself must be visible and “out there,” to generate excitement and interest. That’s where members come in. To find out more how to acquire logos and join in the year-long adver-tising campaign, contact HBAL at 429-6000.

“We will highlight the fact that the majority of HBAL members are local businesses and professionals, and we’ll emphasize the importance of

doing business with our members.”- Tara Brinkmoeller


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HBAL Office Building is now also home to Bardenwerper, Talbot & Roberts Law Firm

There are a few new (and familiar) faces at 1000 N. Hurstbourne Parkway these days. In December, Bardenwerper, Talbott & Roberts, PLLC moved its offices to the upstairs section of the HBAL office building. In announcing their office relocation to the second floor of the HBAL headquarters building, Bill Bardenwerper said, “Moving from our longtime signature location to a new signature location will make our services even more convenient to our principal client base.”

“Moving from our longtime signature location to a new signature location will make our services even

more convenient to our principal client base.”- Bill Bardenwerper

Firm members Ben Talbott, Alex Talbott, Bissell Roberts, John Talbott and Nick Pregliasco joined Bill Bardenwerper in the firm he founded in 1987 and have worked together over the years principally serving the varied land use, transactional and litigation legal needs of


builders, developers, realtors, real estate investors, banks and relat-ed business interests. HBAL Executive Vice President Chuck Kavanaugh commented on the move, “We’re excited that such a prestigious group of profes-sionals have chosen our headquarters building to conduct their busi-ness. Naturally it is a good fit for the Association having a tenant which is related to the industry we represent. Financially, it’s also a positive to have a second floor tenant.” “Over the years, HBAL has taken on a lead role representing many of the industry needs and governmental affairs relationships of not just home builders, but of nearly all builders, developers and related professions and trades,” Bardenwerper stated. “In doing so, the asso-ciation has grown to become the second largest building association in the entire country. Our firm has been a part of that growth and wants to help assure, for years to come, more and better opportuni-ties for this community’s growth and economic development and for the builders, developers, investors and deal makers who fuel the eco-nomic engine,” he added.

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25 february 2012

membermeetings

OLDHAM COuNTY COuNCIL MEETING

Panel of speakers that included: Jim Urban - Director of Planning and Zoning; Bill Lammlein - Mayor of LaGrange, Small business owner; Jason Morgan - The Bank Oldham County; Kevin Eldridge - Magistrate, small business owner; Deana Ep-perly Karem, Executive Director, Oldham Chamber & Economic Development; Billy Doelker, HBAL President, Key Homes;

David Voegele, Judge Executive; Cindy Hack, Re/Max (Realtor)

December 1, 2011Gathered at the John W Black Community Center, the council enjoyed a panel of speakers. The guests included: Kevin Eldridge, Jim Urban, Bill Lammlein, David Voegele, Deanna Karem, Jason Morgan, Cindy Hack and Billy Doelker. Jeremy Esposito, the Oldham County Chair-man, had prepared questions concerning the four obstacles to housing recovery.

1. Employment: Panelists said they try to hold more family friendly events to make the county a more desirable place to move companies. $62 million in projects are up for approval to improve transportation to also contribute to recruitment.

2. Credit: There is an impression that banks are being tougher, it is the same other than rarely lending for spec homes. The small local banks are trying to go on a case by case basis.

3. Regulation: The local small banks have decision makers that are local also. There is more pressure on banks to move quickly on troubled assets (Ex. Property, Spec homes)

4. Market Saturation/Inventory: There are incentives being worked on to get investors back into the buying market.

The Winners of the Bank of Oldham County cash drawing: 1. Tom Raver2. John Black3. Stan Logan4. Jackie Pennington5. Sherrie Kruse

Our next meeting will be in February 2012, for more info contact Ni-cole Bouchard at 502-429-6000 or [email protected].

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What started as one involved member reaching out to another in-volved member to suggest they “practice what they preach” in doing business with members turned out to be much, much more. Buddy Kittle, South Central Bank, serves on the HBAL Board of Directors, Sales and Marketing Council Executive Board, and several other com-mittees at the association and constantly touts doing business with a member. He realized though that he wasn’t doing business with as many fellow members as he had hoped. This revelation prompted him to contact Teresa Morgan, Semonin Realtors, also a board member and SMC Executive Committee member to suggest that they meet to discuss what it would take for them to be able to close a deal together and conduct business in the New Year. A meeting date was set and be-fore he knew it, Buddy was seeing emails from Teresa to other mem-bers inviting them to their meeting date. “I had prepared an outline for my meeting with Teresa and was ready to talk about our goals for 2012 and to find ways where we might have opportunity to work together and before I knew it three or four others had been invited,” explained Kittle. “Although my original meeting outline no longer applied, I was excited about the synergy that might come from this meeting – the more the merrier is what I think,” he added.

The result of one email and phone call from Buddy to Teresa pro-duced a meeting late last November with HBAL members Pat Dur-ham, Pat Durham Builders; Kristy Mercker, Send Out Cards; Bob Thieneman Jr, RJ Thieneman; Buddy Kittle, South Central Bank; Teresa Morgan, Semonin Realtors; and Steph Horne, Agency Title Inc. The group devised a plan that, if executed properly, could produce a contract for a home in Rock Springs for Homearama 2012. Led by the positive motivation of Teresa Morgan, they each provided 50-100 names of contacts they believed might be interested in improving their life through the building and purchase of a new home. Once the contact list was created, they sent a personalized card to each per-son which explained to the recipient that the best gift that they could receive and give to their family this holiday season is a newly built Homearama home in Rock Springs. The message included beautiful photos of the award-winning Rock Springs entry and some points about the benefits of a newly built home by builder Pat Durham. The recipient was also invited to an open house reception that was host-ed in mid-December to meet the builder and developer. “We had all agreed to follow up by phone with the people we each provided for the mailing,” explained Morgan. “But we found ourselves so enthused

membernews

Unique Approach helps several HBAL members sell a Homearama 2012 contract home in Rock Springs

Left to right: Buddy Kittle, Teresa Morgan, HBAL Secretary Pat Durham, HBAL Vice-President Bob Thieneman, Jr., Kristy Mercker,Stephanie Horne

27 february 2012

Linda Dumstorf of Trend Companies one of seven finalists for NAWBO EPIC AwardsFormer HBAL Board member and Vice President of Trend Companies Linda Dumstorf was nominated by fellow HBAL-member Lawren Just, Persimmon Ridge, for the 2012 National Association of Women Business Owners Louisville Chapter EPIC Awards and has now advanced from nominee to finalist status. The EPIC Award honors the Louisville Woman Business Owner of the Year and is given out annually to a woman who represents excellence in business, professionalism, innovation, and community involvement. The award is judged on a variety of components, including a written submission about the accomplishments of the woman business leader and an oral presentation. Dumstorf spoke before a large crowd on January 10th at the Olmsted to introduce herself to the community as a finalist candidate. The final judging for the award was completed at this time. The award announcement will be made on March 1 during a dinner and silent auction at the Mellwood Arts Center. Tickets for the event can be purchased by visiting www.nawbolouisville.org. Dumstorf ’s competition includes professional women who are doctors, lawyers and educators. The HBAL wishes Linda the best of luck and believes she would be a well-deserving winner. We have our fingers crossed for you, Linda! Congratulations on your nomination and being named a finalist.

membernews

To submit your news email Tara Brinkmoeller at [email protected].

by the project that we were telling everyone we ran into about the in-credible value and opportunity that existed in the Homearama home. Just by setting a collective goal, we created such positive excitement and momentum that we felt we had to share it with everyone.” The plan came together even better than expected! Within two weeks of the mailing, and nearly one week before the open house event, a contract was written and accepted for the building of a Homearama home in Rock Springs. Teresa Morgan shared the idea about building with a client who hadn’t received the card and who was not originally looking in the development or at new construction. Upon hearing from Teresa about the benefits of a newly built home and the incentives that are included in a Homearama home, the buyer agreed to look in Rock Springs and immediately fell in love with the development. They weighed their options and decided to build instead of buying an existing home. The timing and extra incentives that were explained to them that come with buying a Homearama home perfectly fit into the buyers desires and timeframe. Developer Bob Thieneman Jr - who admits that he was skeptical of the ability to generate a contract using this method - was thrilled and amazed at how quickly the successful outcome came together. Pat Durham, who was under a time constraint to find a buyer in order to participate in the event this year is excited to break ground soon. Buddy Kittle and Steph Horne will become more involved during the closing process. This story is an example of the power of collaboration, doing busi-ness with fellow members, thinking outside of the box, and believing that with a little effort and follow through the seemingly impossible is possible. Congratulations to everyone involved. Hopefully you are now motivated to think outside of the box, cre-ate a clear goal that you want to achieve and work to overcome the current economy and state of the building industry. If you are positive and believe that individually or together we are bigger and better than the issues facing our industry we will all achieve great things.

Spike Credit Award Recipients

Rob Eberenz, Jr.-President, Bob Thieneman, Jr.-200 Spike credits, Teresa Morgan-200 Spike Credits, Dave Ernst-25 Spike credits, and Dale Hellmann-Retention Co-Chairman

Bill Wilkinson-200 Spike credits, David Lurding-Retention Chairman, Charlene Neal-100 Spike Credits, Rob Eberenz, Jr.-President, Jesse Francis-100 Spike Credits, Don Karem-6 Spike Credits.

Going to IBS? Watch the HBAL Student Chapter Compete on February 9thFive student from Shelby County High School’s Construction Trades class will participate in the High School Building Competition on February 9th in the West Tower on the first floor, room 110. The presentation will begin at 9:00 am and is expected to last a half hour. Our student chapter competitors placed third last year in their inaugural attempt at the competition. Show your support of our future industry leaders by attending their presentation at IBS this year.


newmembers

Associates Approved 12/11

TFC, LLCDaniel EnglishType of Business: FramingSponsor: Stan Logan

Don Meredith Reprographic Company, Inc.Dexter RobertsType of Business: reprographic servicesSponsor: Chris Osborne

Valley Hill Woodworking, Inc.Kevin ErnspikerType of Business: WoodworkingSponsor: Richard Miles

Carpet Management, Inc.Jim GoldenType of Business: Carpet installation & cleaningSponsor: John Miranda

55 Years Notice Colston Jr. Revocable Trust Co. – Notice Colston Jr.

50 yearsGeneral Shale – Donnie G. Smith

10 YearsPatterson Home Improvement – Terry PattersonT.L.S. Inc, DBA Turf & Landscape Services – Anne PfeifferEastwood Masonry, LLC. – Terry TrujilloRippy Construction, LLC – Joseph Rippy, Registered Builder

5 YearsM & J Landscape Design Group – Mark StowePrecision Design & Construction – Jack Isaac

Lanham Hardwood Flooring Co. – Blake Blythe1st Choice Insulation/T & N Holding – Tonia LanherrJimmy Welch Team, LLC – Jimmy WelchSullivan College of Technology & Design – David WinklerArchitectural Concrete Inc., - David Alvey

1 YearD T Perkins, LLC – Dennis PerkinsUniversal Roofing & Window Direct – James TrigilioKim Oskins Builder, LLC – Kim Oskins, Registered BuilderMetro Cleanup – Greg EpleyProudGreenHome.com – Bob Fincher

Congratulations to these Milestone Members: These members have reached a milestone mark in their membership with their renewal in December.membermilestone

For an up to date Spike Club list please visit www.hbal.com/site/for-members/spike-list.html

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29 february 2012

honorroll

Associates:A&G Drywall, IncBachman Commercial SalesBardenwerper, Talbott & RobertsBoland Maloney LumberBonnycastle Appliance & TVBoral BricksCentury MortgageChenoweth AppliancesCorrigan Electric and Home SystemsCunningham Door & Window

The Door Store and WindowsFifth Third BankFrost Brown Todd, LLCK-I Lumber & Building MaterialsL & N Federal Credit UnionL.E. Hobbs ContructionLogan Lavelle Hunt InsuranceLouis E. Hobbs Construction Co. Inc.McDonald Marble & Stone Inc.MetLife Home LoansParagon Management Group

PPG Porter PaintsPro-BuildRepublic BankR.J. Thieneman Realty GroupSam Kinnaird’s FlooringScreens of KentuckySonne SteelSurburban SteelThe Trend Companies of KentuckyWells Fargo Home MortgageVanZandt, Emrich, & Cary

Builders:

Blacketer CompanyClifford Thieneman Co., LLC

Deville HomesDominion HomesQuarry Bluff Estates

As of January 1, 2012

A special thanks to all Honor Roll Members!For more information on how you can be listed on the HBAL Honor Roll, please call Melissa or Kimberly at 429-6000.

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calendarofevents

February1 Table Top Night 4:00 p.m., Mellwood Arts Center

1 Land Development Meeting 10:00 a.m., HBAL

7 Membership Committee Meeting 10:30 a.m., HBAL

7 Remodelors Council Roundtable 11:30 a.m., HBAL

8-11 IBS Show Orlando, FL

16 Commercial Council Quarterly Meeting 8:30 a.m., HBAL

16 Codes and Standards Committee 11:00 a.m., HBAL

27 Oldham County Council Meeting 11:30 a.m., John W. Black Community Center

29 Executive Committee 11:30 a.m., HBAL

March2-4 Home, Garden & Remodeling Show Kentucky Expo Center, South Wing B & C

6 Shelby County Council Meeting 11:00 a.m., Claudia Sanders Dinner House

7 New Member Orientation 9:00 a.m., HBAL

7 Land Development Meeting 10:00 a.m., HBAL

15 Codes and Standards Committee 11:00 a.m., HBAL

21 Registered Builder Committee Meeting 10:00 a.m., HBAL

28 Executive Committee 11:30 a.m., HBAL

28 Board of Directors 3:00 p.m., HBAL

31 february 2012

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• Best Selection• Professional • Professional • Pr Salespeople• Custom Installation • Best Price

Louisville’s #1 “High End” Dealer

Bonnycastle Appliance & TV has GE Monogram Appliances...

…and the experience you deserve.

Bonnycastle Appliance & TVhas Quality Brand Name Appliances…

• Best Selection• Professional Salespeople• Custom Installation• Best Price

…And the experience you deserve.

2460 Bardstown Road • Louisville, Kentucky 40205


� Louisville’s #1 “High End” Dealer�













Bonnycastle Appliance & TVhas Quality Brand Name Appliances…

• Best Selection• Professional Salespeople• Custom Installation• Best Price

…And the experience you deserve.

2460 Bardstown Road • Louisville, Kentucky 40205


� Louisville’s #1 “High End” Dealer�Mike Isaac @ Isaac Contracting & Design Co., Inc. says “I have been doing business with Bonnycastle Appliance & TV for 20 years. They always have the newest technology that my customers want and the service to me and my customers is always the best. They go out of their way to work with my delivery and installation schedules. It is true, there is no hassle at Bonnycastle.”

Up to $2,000 OFFon GE MONOGRAM

APPLIANCE PACKAGES thru March 31, 2012

see dealer for details

http://www.bonnycastleappliance.com/

Documents

Louisville Builder February 2012