The National Association of Home Builders(NAHB) has had a long history of tracking theevolution of home buyer preferences. Builders andother industry professionals now have anopportunity to find out what baby boomers wantcompared to other home buyers in HousingPreferences of the Boomer Generation: How TheyCompare to Other Home Buyers, a study recentlyreleased by NAHB's publishing arm, BuilderBooks.

Builders Outlook

Based on a comprehensive,nationwide survey of recent andprospective home buyersconducted in 2015, the studydiscusses how various designsinfluence the home purchasedecision; the location, featuresand size of the homes consumerswant, and the influence of certainevents and people on the decisionto move to another home."This survey is a great resource

for building professionals, as itprovides an inside look at thethings boomers, and othergenerations, are looking for intoday's homes," said Rose Quint,NAHB's Assistant Vice Presidentfor Survey Research, and one ofthe study's authors. "As thehousing market continues torecover, more consumers are inthe position to purchase a home,and it's important for builders tohave this knowledge about theircustomers."

Here are some of the findingson what home buyers want:

The majority of all buyers(65%), and boomers inparticular (63%), would like tobuy a single-family detachedhome.

Most home buyers (64%)prefer a single-story home, butthere is great variation bygeneration: Millennials (35%),gen X'ers (49%), boomers(75%) and seniors (88%).

Fifty-eight percent of homebuyers want a full or partialbasement, but the preferencedeclines with age: Millennials

(77%), gen X'ers (67%),boomers (50%) and seniors(43%).

When asked if they would buya home without a living room,37% of buyers say they would,42% would not and 21% arenot sure. The share of buyerswilling to part with this formalspace falls steadily with age:Millennials (43%), gen X(40%), baby boomers (37%)and seniors (26%).

And here are some of thefindings on what most buyersdo not want:

Few buyers (8%) or boomers(7%) prefer a central citylocation. About two-thirdsprefer a home in the suburbs(close-in or outlying) and justover a quarter prefer a ruralarea.

Only 14% of buyers overall(and 13% of boomers) are

willing to pay more for ahome out of pure concernfor the environment.

Editors Note: This is part two of our seriesthat focuses on housing preferences bygeneration. In our last issue we looked at howmillennials are shaping the future of thehousing industry. The article can be found inour digital edition by visiting:https://issuu.com/snappypublishing/docs/buildersoutlook2016issue1

National, State & Local Building Industry News2016: Issue 2

www.elpasobuilders.com

Identifying theHousing Preferencesof the BoomerGeneration

Baby boomers are people born during the demographicpostWorld War II baby boom approximately between theyears 1946 and 1964. This includes people who arebetween 51 and 70 years old in 2016. According to theU.S. Census Bureau, the term "baby boomer" is alsoused in a cultural context.

2 Builders Outlook 2016 issue 2

GET HOME SALES COOKING WITH NATURAL GAS.No matter how you slice it, nothing hits the spot like cooking with natural gas.

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I read an interesting article thisweek on Network Science. In it, RonBurt, one of the worlds top networkscientist, explains how according tomultiple, peer reviewed studies,simply being in an open networkinstead of a closed one is the bestpredictor of career success. The logic of this is that open

networks expose you to new ideas,different perspectives, newinformation and experiences, whilepeople in closed networks repeatedlyhear the same ideas, which reaffirmwhat you already believeSpecifically, the author mentioned

four specific areas where it helps toparticipate in open networks:1. More accurate view of reality:

Being in an open network affordsyou different information sourcesso errors tend to cancelthemselves out.

2. Timing control of informationsharing: When you are part of anopen network, it is more likely thatyou will receive more timelyinformation than when you are apart of a closed network, youbasically expand the probabilitiesof someone in your open networkhearing about it first and sharingthe information.

3. Becoming a connector betweengroups: Members of open networkcan create value by serving as anintermediary by connectingorganizations that otherwisewouldnt be connected.

4. More breakthrough ideas: Byhearing ideas and information fromdifferent sources and people withdifferent experiences, better ideascome about.

Is this starting to sound familiar?Your local Building Association is agreat Open Network connecting thetop industry professionals in our field.Come and network with seasonedbankers, developers, builders andsuppliers to improve your business. Last but not least, the Spring Home

Buying Season is upon us, help usmake bring awareness to the benefitsof purchasing a new home over aused one, a great way to do this is byattending the upcoming Spring HomeShow on March 11-13. Lets makesome noise!

32016 issue 2 Builders Outlook

CarlosVillalobosPresident,El Paso Association of Builders

Open Networks are Greatest Predictorsof Career Success

Presidents Message

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The Pope visited Juarez and itcreated some unusual businesschallenges. Not just in Juarez butin El Paso. First of all the businesscommunity, including our industries,were not sure what to expect sincethere didnt appear to be solidinformation on what would happenin El Paso. Now remember, therewas never any indication that thePope would visit El Paso butbecause of his visit to New Yorkand Pennsylvania the talk was thatthere may be thousands orhundreds of thousands of visitorscoming here to get a glimpse of hisHoliness. The city, state and fedsdecided that they could take anychances with an internationalincident. So parts of the city wasshut down, roads closed, andschools closed. What wasbusiness to do? Our builders

reported loss of workers eitherbecause they went to be with thecrowds or because it was hard toget to work. I suspect that wellnever know the huge monetarycosts to this city. It cost ourindustry at a time we can leastafford it. Was it worth it? Hard tosay but if the worker felt the needthen productivity would havesuffered otherwise. Someday astudy will be done and the resultsmay show the costs were higherthan wed been led to believe dollarwise. But if it gave the region somekind of a mental lift then maybe itwas worth it. Only time will tell.As you read this Im in the

beginning stage of kneereplacement recovery. Some ofyou know what Im going through.Its not for wimps and the older onegets the harder recovery gets. I

want to thank Margaret for pullingdouble duty, at work and longdifficult hours at home. My doctoris James Bean, M.D., a world classman with incredible skills. So youllsee me back soon as long aseverything progresses well. Mynew knee and opportunity to feelless pain will be worth it. At leastthats what Im saying right nowtrying to get through this pain. Lots of things coming up: Home

and Garden Show March 11-13 with

our Parade of Homes buildersshowing off baths and kitchens;April 8 is the day for our fun springgolf outing at Painted Dunesbrought to you by StrucSure HomeWarranty; and then our showcaseconsumer event the Parade ofHomes ready to kick off May27. Soyeah we are busy and yeah we gota lot to do. Looking forward tosharing these events with you. Besafe, be productive. Go build ElPaso.

Ray Adauto,Executive Vice PresidentEPAB

4 Builders Outlook 2016 Issue 2

Papal visit creates unusual challenges

ExecutivesMessage

elpasotimes.com

GINDILUB El Pa aso SINC 0951EC

52016 issue 2 Builders Outlook

New Home Sales Fall 9.2Percent in January

n Sales of newly built, single-family homesdropped 9.2 percent in January to aseasonally adjusted annual rate of 494,000units, according to newly released data bythe U.S. Department of Housing and UrbanDevelopment and the U.S. Census Bureau.After an unusually high December

reading, some pullback is to be expected,said Ed Brady, chairman of the NationalAssociation of Home Builders (NAHB) andhome builder and developer fromBloomington, Ill. On the positive side,builders are adding inventory in anticipationof future business. Consumers are exhibiting caution in the

face of some uncertain market conditions,said NAHB Chief Economist David Crowe.The average of the December-Januaryreports shows that housing is movingforward at a modest pace, buoyed byrelatively low interest rates and ongoing jobcreation.The inventory of new homes for sale

rose to 238,000 in January, which is a 5.8-month supply at the current sales pace andthe highest level since October 2009.Regionally, new home sales rose 3.4

percent in the Northeast and 1.8 percent inthe South. Sales dropped 5.9 percent inthe Midwest and 32.1 percent in the West.

Housing RecoveryContinues at Modest Pace

n Markets in 117 of the approximately 340metro areas nationwide returned to orexceeded their last normal levels ofeconomic and housing activity in the fourthquarter of 2015, according to the NationalAssociation of Home Builders/FirstAmerican Leading Markets Index (LMI)released today. This represents a year-

over-year net gain of 52 markets.The indexs nationwide score inched up

to .94, meaning that based on currentpermit, price and employment data, thenationwide average is running at 94percent of normal economic and housingactivity. Meanwhile, 90 percent of marketshave shown an improvement year-over-year.Housing markets are strengthening

gradually as the economy firms and jobcreation continues, said NAHB ChairmanEd Brady, a home builder and developerfrom Bloomington, Ill. While some areasare recovering at a faster rate than others,the large majority of metros are moving inthe right direction.Among the LMI components, house

prices continue to show the most extensiverecovery, with 322 markets having returnedto or exceeded their last normal levels.Meanwhile, 76 metros have reached orexceeded normal employment activity,said NAHB Chief Economist David Crowe.Single-family permits are edging forward,but remain at only 48 percent of normalactivity.The number of markets on this quarters

Leading Markets Index at or above 90percent has reached 217almost 65percent of all markets nationwide, saidKurt Pfotenhauer, vice chairman of FirstAmerican Title Insurance Company, whichco-sponsors the LMI report. Thisdemonstrates that the breadth of thehousing recovery continues to grow.

Baton Rouge, La., continues to top thelist of major metros on the LMI, with ascore of 1.52 or 52 percent better than itslast normal market level. Other majormetros leading the list include Austin,Texas; Honolulu; Houston; and San Jose,Calif. Rounding out the top 10 areOklahoma City; Los Angeles; Nashville,Tenn.; Salt Lake City and Charleston, S.C.Looking at smaller metros, both Midland

and Odessa, Texas, have LMI scores of 2.0or better, meaning that their markets arenow at double their strength prior to therecession. Also at the top of the list ofsmaller metros are Wheeling, W.Va.;Manhattan, Kan.; and Walla Walla, Wash.;respectively.The LMI identifies those areas that are

now approaching and exceeding theirprevious normal levels of economic andhousing activity. Approximately 340 metroareas are scored by taking their averagepermit, price and employment levels for thepast 12 months and dividing each by theirannual average over the last period ofnormal growth. For single-family permitsand home prices, 2000-2003 is used as thelast normal period, and for employment,2007 is the base comparison. The threecomponents are then averaged to providean overall score for each market; a nationalscore is calculated based on nationalmeasures of the three metrics. An indexvalue above one indicates that a markethas advanced beyond its previous normallevel of economic activity.

NationalBuilder News

The inventory of new homesfor sale rose to 238,000 inJanuary, which is a 5.8-month supply at the currentsales pace and the highestlevel since October 2009.

House prices are once againregularly in the news and have beenrising for 43 straight months. In citiessuch as Boston, Denver and SanFrancisco, prices today are higher thanthey were during the peak of thehousing boom. In other cities, whileprices have not regained the groundthey lost during the housing bust, theyare rising smartly and are not far offthe peak prices of last decade. Thatsaid, a housing bubble does notappear to be forming, and even if oneis on the horizon, it certainly is notbeing credit-fueled, and thus is far lessdangerous than what we recentlyexperienced.

While in a few cities home prices areat or above the highs of the housingboom, on average, home prices arestill well below their previous peaks.Depending upon the house price indexused, sales prices are currently 5% to10% below their 2006 peaks, and atlevels first observed in early to middle2005, six to 12 months before theypeaked. Moreover, after adjusting forinflation, house prices are about 20%off their all-time highs. At the currentrate of house price appreciation, it willtake another four years for inflation-adjusted house prices to fully regaintheir 2006 levels. Despite the rhetoric,house prices are not nearly as high asthey are being made out to be. In addition, back in 2006, housing

affordability was dismal. At that time, afamily earning the median incomebarely had enough income to qualifyfor a conventional conformingmortgage for the US median-pricedhome. Today, that same householdhas almost 170% of the incomeneeded to qualify for the median-priced

US home. This is because houseprices are lower and interest rates aresubstantially lower than they werealmost a decade ago. Two esoteric but very important

financial measures reinforce theconclusions above. Both the price-to-rent ratio and the mortgage debt-to-GDP ratio have fallen precipitously.The price-to-rent ratio is similar to theprice-to-earnings ratio for equities, andthe higher it is, the more homebuyersare willing to pay up front to receive aflow of future rent payments. At thepeak, the price-to-rent ratio was easily50% above what it averaged between1983 and 2000. Today it is about 10%above the 1983 to 2000 average level,and almost 30% below the 2006 peak. The ratio of all debt (most of which is

mortgage debt) to GDP has fallen from100% of GDP to 80% of GDP.Moreover, despite the recent run up inhouse prices, the mortgage debt-toGDP ratio has continued to decline.This reflects a return to prudentlending standards and reduced

household leverage. Collectively theimprovement in these ratios stronglysuggest that we are not in the midst ofa credit-induced lending bubble. Inaddition, housing starts remain abouthalf of what they were during the priorpeak. This means that our economy isfar less dependent on residentialconstruction activity than it was then. To review, while house prices are up,

inflation-adjusted prices are still yearsaway from their peak levels. Inaddition, affordability remains high andboth the price-to-rent and mortgagedebt-to-GDP ratios are much lowerthan they were. These four indicatorscollectively indicate that there isprobably no housing bubble, and evenif there is one, it is not the result ofincreased household leverage, whichis what primarily precipitated the lasthousing bust.

Elliot Eisenberg, Ph.D. is President ofGraphsandLaughs, LLC and can be reached atElliot@graphsandlaughs.net. His daily 70 wordeconomics and policy blog can be seen atwww.econ70.com.

6 Builders Outlook 2016 Issue 2

FinancialPerspective

Elliot EisenbergEconomic & PolicyBlog

No Housing Bubble

The world economyGlobal growth is in slow mode, but a recession seems unlikelyBad, worse, or as good as it getsUncertainty and pessimism have

dominated the economic and businessnews in recent months. While at facevalue the mood seems justified asmany negative factors (Chinasfinancial gyrations, volatility in oilprices, and the further weakening ofthe US economy) are colluding, therecent developments by themselves donot yet signal an imminent globaleconomic recession. Yet, the recentchallenges to the global economy,have led to some significantadjustments in this first quarterlyupdate The Conference Boards GlobalEconomic Outlook for 2016. GlobalGDP growth is now projected at 2.5percent, which is 0.3 percentage pointlower than our November outlook. Thelargest downward adjustments areseen in emerging markets, of whichBrazil and Russia are the mostpronounced, as their economic outlookhas deteriorated more rapidly than weexpected

US: Will it continue to be a brightspot in a weak global economy?GDP growth for the United States is

adjusted downward by 0.4 percentagepoints to 2.0 percent, as the GDPgrowth in the 4th quarter and jobsgrowth over the past months havebeen somewhat disappointing. Solid domestic demand will help

overall GDP growth at 2.0 percent in2016, which is slightly lower than 2015

growth rate.Raising profits will become

increasingly difficult for companies aslabor costs accelerate, laborproductivity growth is modest, andinterest rates are rising.

EURO-AREA: Recovery is likely toget betterDespite increased political risks, the

short-term economic environment inEurope has actually improved fasterthan we expected in our last update.As is the case in the US, domestic

demand continues to drive the currentmoderate recovery.Investment and productivity are

projected to improve in the comingdecade, paving the way for somewhatof an acceleration in growth.

ASIA-PACIFIC: Growth is unlikely toimproveGrowth rates of China, India and

Southeast Asia are unlikely to seesignificant improvement in 2016compared to last year.Chinese growth in 2016 is expected

to stay the same as that of 2015 at 3.7percent (Alternative China GDP SeriesFAQ)After adjusting for Chinas overstated

official growth rates, India has alreadyovertaken China as the growthchampion of the region, but we do notexpect an improvement in Indiasgrowth performance in 2016 relative to2015.

LATIN AMERICA: Losing the race?Rapid falls in oil and commodity

prices negatively impacted LatinAmerican economies, and exacerbatedthe ongoing troubles in the biggesteconomy in the region, Brazil.To help lift economic potential and

drive productivity growth, more privatesector and foreign investment isneeded as well as integration of theinformal sector into large and modernbusiness practices.

AFRICA: Positive, but uncertainThe prolonged decline in commodity

prices, as well as weak growth inNigeria and South Africa, will causeoverall growth for the region in 2016 tocome in at 3.7 percent which is,though still an improvement from 2015,well below the average growth of thelast few years. The region still has a lot of potential

for economic expansion in the mediumto long run, mainly due to itsdemographic dividend, and there isample room for catch-up, but severalpolitical and institutional constraintsoffer significant uncertainty. Source:https://www.conference-board.org/data/globaloutlook/

72016 ISSUE 2 Builders Outlook Builders Outlook On the Scene

GeneralmeetingfeaturesState Rep Joe Pickett The first general meeting of the

year took place at the Marriott Hotelon February 10. The guest speakerwas State Representative JoePickett, the senior legislator from ElPaso. Pickett, one of housingsmost ardent supporters, gave theaudience a sneak peak into whatthe off season is getting ready fornext year. At the top of the listaccording to Pickett is the newfunding available to fix and maintainTexas roadways. This came aboutafter a broad coalition of supportvoted for a way to fundtransportation without increasingtaxes. As the higher mileage autosand trucks continue to populateTexas roads less gasoline anddiesel are being sold and thatsource of Texas road funds neededto be supplemented or reinforced.Pickett told the audience that hiswork on the road issues will keepTexas at the forefront of roadimprovement. Growing theeconomy means having to haveroads that can transport the goodsand services we need. I have tosay that as Texas has grown ourneed to have good roads andbridges is paramount, Pickett said.We are spending a lot of money inEl Paso over the next few years tobring completion to Loop 375 andmake the west side connected toeast side, he told the Outlook. Bobby Bowling IV said this to the

Outlook: Joe Pickett has supportedbuilders throughout his career at thecapital because he knows theindustry, He is one of the hardestworking as well as diversified withhis work on roads, he continued.Carlos Villalobos, President of theassociation went a little further. Ireally appreciate Mr. Pickett comingout to give us an update becausehis work for us in the legislature isimportant, I expect that we willneed his leadership in the nextsession, so Im glad he came tospeak to us, Villalobos continued. The meeting also had our first

visit by the National Association ofHome Builders regional team. Thereps told the audience about theNAHB Member Advantageprograms designed to get discountson services and goods used by ourmembers. The announced a new$500 discount on cars and trucksfrom Chrysler Fiat Dodge. Thisprogram joins the one GM offers butwith some very interesting twists.For more on this and otherprograms available to memberscontact us at the EPAB office.

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El Paso Development News

Renderings RevealLook of FutureNorthgate TransferCenter

By Armando LandinThe Northgate Transfer Center isconsidered a "catalyst" by the City ofEl Paso for the future transit-orientedMetro 31 smart growth community,which will be adjacent to this project. Itwill be used as the terminus of theDyer Corridor of the Brio Rapid TransitSystem, currently under development.In all, 31 acres will be developed atthe former location of Northpark Mall atthe corner of Dyer Street and DianaDrive.According to the architect's website,the transfer center will itself be a

mixed-use development, with retailspaces and a 181-space parkinggarage planned. Renderings show theparking structure possible hidden byliner facades, which could include theretail spaces. These would face a"Main Street" leading into the smartgrowth development.Renderings also show a circularcommunity plaza that could possiblybe used for public art and communityevents. Ponding park areas arelocated behind the structures in apreliminary site plan.The layout of the Northgate TransferCenter and the larger Metro 31development are subject to change, ashas been seen in multiple iterations ofeach project. Metro 31 is beingdeveloped by Hunt Companies of ElPaso. No construction start date hasbeen announced for either project.

Dave & Buster's DetailsEmerge, Now Hiring200 Employees forBassett Place Location The interior of the upcoming Dave &Buster's location at Bassett Place in ElPaso will be "upscale and modern,"according to a press release. Thecompany is looking to fill 200 positionsfor the new entertainment and diningvenue located in East-Central El Paso,which opens April 11, 2016.Dave & Buster's El Paso location willinclude over 30 big screen, highdefinition televisions and a 360-degreesports bar. This is the "Watch" part ofthe company's "Eat, Drink, Play &Watch" slogan.A "Million Dollar Midway" will includemore than 160 arcade games in areassuch as the "Jurassic Park Arcade,Angry Birds Arcade and SpongeBobPineapple Arcade." Guests will be ableto redeem tickets for various prizes,including Xbox games and sportsmemorabilia.Food-wise, the menu will includeitems such as, "Pepperoni Pretzel PullApart, Three Cheese Grilled CheeseSticks, Bacon-Wrapped Shrimp &Chicken with Creamy Lobster Sauce,Bang Bang Chicken with Spicy ThaiPeanut Noodles and the Cheesy MacStack where shredded short ribs are

topped with creamy macaroni &cheese and sandwiched between twoslices of toasted bread," according tothe press release.Cocktails will include "Tiki Drinks, theOriginal CoronaRita, Adult SnowCones, the Strawberry WatermelonMargarita poured over strawberry icecubes, Glow Kones featuring amulticolored, flashing cube, and the all-new tequila infused South of theBorder Sangrias."The company is hiring 200employees for the El Paso location,including positions for servers,bartenders, hosts, cooks, and servicesupport roles.

Builders Outlook 2016 Issue 2www.elpasodevnews.com

For the latest inbreaking developmentnews, visit:elpasodevenews.com

A joint effort by Bank ofAmerica, Freddie Mac andthe Self-Help VenturesFund will offer home buyerslow down payments andgive applicants credit forhaving paid their rent ontime.

By Kenneth R. Harney , The Washingtom PostSo you say you want to buy a home

but youre locked out of the marketbecause you dont have enough moneyfor a down payment. Or you dont haveadequate savings to meet lendersrequirements on financial reserves. Oryou have a thin credit file that lendersfind tough to score and accept.Understood. But have you checked out

whats been going on in the mortgagemarket lately? Are you aware of themultiple low-down-payment, consumer-friendly options that have been launchedrecently the latest just within the pastweek?Maybe not, so heres a quick overview.

Pushed by regulators and consumergroups to expand home-loanopportunities for first-time and moderate-income buyers, major mortgage playershave come out with nationwide programsdesigned to turn renters who arecreditworthy but dont have big downpayments or closing-cost cash intohomeowners.The newest option, known as the

Affordable Loan Solution plan, launchedFeb. 22. It allows for down payments aslow as 3 percent, no minimum cashreserves and loan amounts as high as$417,000 and, unlike other low-down-payment mortgages, there are nocharges for traditional private mortgageinsurance. Just by itself, such insurancecan sometimes add hundreds of dollarsa month to buyers costs and makeownership difficult to afford, so this is abig deal. For applicants with thin or nocredit bureau files, the program allowsfor consideration of nontraditional formsof credit history, such as monthly rentpayments, utility bills and the like.Also, there is no minimum required

contribution toward the down paymentand closing costs, so applicants cansupplement their own cash with gifts from parents, for example or even usegrants or secondary financing that isavailable through some local governmentagencies.Significantly, applications wont go

through the usual automatedunderwriting systems that generateinstantaneous approval-disapprovaldecisions. Instead, theyll be handled theold-fashioned, manual way, allowing formore individualized evaluation andverification of applicants situations.The program is a joint effort of Bank of

America, giant mortgage investorFreddie Mac and the Self-Help VenturesFund, an affiliate of Self-Help CreditUnion, a community development lender.Starting Feb. 22, Bank of America beganoffering these mortgages through itsnetwork of 4,800 local financial centersaround the country as well as through itsonline and call-center channels. Thebank plans to sell the mortgages to Self-Help, which will provide early-intervention servicing to borrowers whoexperience payment difficulties. FreddieMac will ultimately purchase the loans.Self-Help will provide a financial

backstop to cover default losses in lieuof traditional private mortgage insurancecoverage.Affordable Loan Solution mortgages

are likely to compete with FederalHousing Administration loans, which offerminimum down payments of 3.5 percent.For many applicants, the new programcould prove to be the superior choice.Take this hypothetical case provided byBank of America: On a $150,000mortgage with prevailing rates as of mid-February, FHAs 30-year fixed rate loanwith a 3.5 percent down payment andmortgage insurance would requiremonthly payments of $887.31, exclusiveof taxes and hazard insurance. AnAffordable Loan Solution mortgage in thesame amount with 3 percent down wouldcost the borrower nearly $105 less permonth $782.47.However, there are important

restrictions that come with the newloans. Borrowers cant have incomeshigher than the area median, they

generally cant have total debt-to-incomeratios higher than 43 percent, and theyneed FICO credit scores of 660 orhigher. FHA, by contrast, goes as low asFICO 580 on loans with 3.5 percentdown and is often more generous ondebt-to-income and previous creditissues.Some Affordable Loan Solution

applicants, including all first-time buyers,will need to participate in home buyereducation sessions conducted byhousing counselors. D. Steve Boland,Bank of Americas consumer lendingexecutive, stressed in an interview thatthis is a program designed for peoplewho have established histories ofpaying debts, even if not all theirhistories show up in the national creditbureau files.The Affordable Loan Solution plan

joins two other relatively recent efforts toreach out to creditworthy moderate-income renters who dont have a lot ofcash on hand. Fannie Maes

HomeReady and Freddie Macs HomePossible programs, which both offer 3percent minimum down payments andflexible underwriting terms, are availablethrough multiple lenders nationwide.If you think you might fit the profile, get

in touch with several lenders and learnwhat theyve got to offer. You just mightbe surprised.

Ken Harneys email address iskenharney@earthlink.net.

For more Ken Harney columns, visitwashingtonpost.com/people/Kenneth-R-Harney.

10 Builders Outlook 2016 issue 2

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112016 issue 2 Builders Outlook

Born in Chihuahua, Mexico and educated inKentucky and Missouri, Joseph Magoffin(18371923) first came to the El Paso area in1856 to work in his fathers mercantile shop atMagoffinsville. After service in the U.S. CivilWar, he returned with his family and becamean advocate for the development of El Pasoand the region. Using his extensivelandholdings, he helped bring railroads,utilities and new businesses to town,increasing his personal fortune. He was a co-founder of the State National Bank, where heserved as vice president for 40 years. He alsoserved as county judge, four terms as mayor,collector of customs and in numerous otherpublic offices. His wife Octavia (18451906)was a social leader in the community andactive in Catholic charities. They had twochildren, Jim (J.W.) Magoffin (18641913)and Josephine (Josie) Magoffin Glasgow(18731968).When Joseph and Octavia Magoffin moved

into their new home in 1877, El Paso was asmall frontier town. Joseph built the home onproperty he had obtained from his late father.The adobe construction reflects typicalSpanish and Territorial architecture found inthe Southwest borderlands and the influenceof the Greek Revival style popular in otherparts of the United States. In 1887, the ElPaso Times described the homestead, Thegrounds surrounding it comprise twenty acres,embraced in lawns, flower gardens, fruitorchards, vegetable beds, grass plats and smallgrain divisions. The couple was well knownfor their hospitality and entertained guestsfrequently in the home.The Magoffins son, Jim, grew up in El

Paso and attended school in San Antonio andthe University of Notre Dame. Interested inbusiness, Jim was often associated with hisfathers activities, including working in the ElPaso Customs Office, as a railroad freightagent and in other commercial ventures. In1897, he married Anne Buford (18751962),the daughter of the American Consul innearby Juarez. They and their four childrenlived in the Magoffin Home at various times.J.W. unexpectedly died at age 49 after anappendectomy. Anne and her children caredfor Joseph in the home until his death in 1923.Joseph and Octavia had their second child,

Josephine, shortly before they constructed theMagoffin Home. After attending the firstpublic school in El Paso, Josephine (Josie)continued her education in Washington andEurope. She returned in 1891 and becameactive in the social life of the city. Hermarriage to William J. Glasgow (18661967)in 1896 was described as the most fashionablein El Pasos history. Glasgow, a graduate ofWest Point, served with distinction in theSpanish-American War, the PershingExpedition and World War I, and retired in1926 with the rank of brigadier general. Josieand their five children followed Glasgow frompost to post, which influenced two of the boysto pursue their own military careers. TheGlagows moved into the Magoffin Home afterJosephs death and lived there for the nextfour decades. Their daughter, Octavia,continued to live in the home until her deathin 1986.

MagoffinsvilleJosephs father, James Wiley Magoffin

(17991868) left Kentucky for Mexico in the1820s seeking adventure and opportunity. Hebecame a widely respected trader andbusinessman, known locally as DonSantiago, in Matamoros and on theChihuahua-Santa Fe Trail. His influenceextended into politics, as he arranged thepeaceful surrender of Santa Fe during theAmerican invasion of Nuevo Mexico in 1846.After the Mexican-American War, he madeextensive land purchases along the RioGrande and created the settlement ofMagoffinsville, a forerunner of present-day ElPaso and an early site of Fort Bliss. In 1867,floods destroyed his hacienda and tradingpost, located about 11 blocks east of the

Magoffin Home. James met his wife, MariaGertrudis Valdez, in Saltillo, Mexico. Theymarried in Chihuahua in 1839 and had eightchildren.

Did You Know? The Magoffin Home is not on the samesite as the early settlement ofMagoffinsville, created by JosephMagoffins father, James Wiley Magoffin.Magoffinsville, one of the earliestsettlements in the area, and an early site ofFort Bliss (18541862) is about 10 blockseast of the Magoffin Home.

Magoffin family members served in theMexicanAmerican War, the AmericanCivil War, the SpanishAmerican War, thePershing Expedition and both World Wars.Military service is an important part of thefamily history.

Magoffin family members and theirdescendents lived in the home for morethan 100 years.

The exterior walls of the Magoffin Home,made of adobe brick, are between two tothree feet thick. The interior walls areabout two feet thick.

The ceilings in the north and part of theeast wing are composed of milled woodbeams. This wood was apparently broughtby wagon from the Sacramento mountainsof New Mexico.

Some of the tongue and groove woodfloors in the home were laid directly onthe ground.

Different parts of the home portraydifferent time periods. For example, somerooms represent the 1890s and others the1930s. Their decor reflects styles popularat those times.

- See more at:http://www.thc.state.tx.us/historic-sites/magoffin-home/magoffin-home-history#sthash.LfmCqoAj.dpuf

In HistoryFamous Houses The Magoffin Home provides window into our past

The Magoffin Home is located at 1120 Magoffin Ave in El Paso, Texas. It was placed on the NationalRegister of Historic Places in 1971. The surrounding area was declared the Magoffin Historic Districton February 19, 1985.

Photo by Jody Polk Schwartz

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12 Builders Outlook 2016 issue 1

IntroductionsMeet your board member

The Builders Outlook asked EPAB BoardMembers some interesting questions Thereresponses were even more interesting!

HOMESofPARADE Enchanted Hills

May 28-June 12Preview Party May 27

Sam TrimbleIf you had 1,000,000 dollars to giveaway, how would you do it?Lets just say my church, family, friendsand waiters would like me a lot more.

What was your first paying job?Busboy and dishwasher at the Riveria Restaurant.

What makes you feel old?Going to 6th Street in Austin.

Who do you admire as a leader?Ronal Reagan.

If you could have a drink with someone fromhistory who would it be?Benjamin Franklin

The El Paso Association of Builders presents

Development by: Southwest Land DevelopmentBeautiful Homes by:

BIC, Palo Verde, Pointe Homes, DR Horton, CTU Metro Homes, Pacifica Homes, Deal 2 Deal, Trinity Homes and Edwards Homes

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132016 Issue 2 Builders Outlook

AssociationNews & Events

MARCH 9BOARD MEETING

12 NOONEPAB OFFICE

MARCH 11-13HOME & GARDEN SHOWCONVENTION CENTER

MARCH 23LUNCH & LEARNEPAB OFFICE

UPCOMINGEVENTS

NEW MEMBERS

SODA SPONSORFIRST LIGHT FCU

Connect to the El PasoAssociation of Builders:www.elpasobuilders.com

TREJO CONSTRUCTION CO.CONTACT: JUAN TREJO

13909 ALAMEDACLINT, TEXAS 79836

915-637-5193

WELCOME BACK:TRINITY HOMES

CONTACT: DANNY ANDRUS1346 LEE TREVINO#206EL PASO, TEXAS 79936

915-494-5580

DWS BUILDING SUPPLYCONTACT: SABRINA

VOOHIES6050 LUCKETT COURTEL PASO, TEXAS 79932

915-351-7300

If you have an event or meeting that you would like to share withEPAB members, please submit your information to:margaret1@elpasobuilders.com

This is my first article for The Builder'sOutlook. As a recently retired Soldier, Iwant to thank this association and all itsmembers for their support to our Fort Blisscommunity. Being loyal to your communityand to individuals is one way to try tomake a difference for our community. Thisis one of the primary reasons that I joinedthis association. I believe we each must beactive participants in our community if wewant to be proud to call El Paso home.One of the primary goals of the

Associates Council is to bring Builders andAssociates together to make El Paso a

better place to live. The relationshipswithin our membership are important inachieving this goal. We all must worktogether to strengthen these bonds if wewish to succeed both in business and forthe betterment of our neighborhoods.This association creates the homes and

neighborhoods that makes El Paso a greatplace to raise children and to enjoy ourfamilies. One of my goals for thisassociation is to get more participationfrom our associate members. They helpcontribute money, volunteers, and supportfor lobbying for governmental changes.They offer a strengthening in our numbersand help to make our voice heard. Theyplay a very important role. Whenmembers remember to "prefer" ourassociates in business dealings, thisstrengthens our Association and will helpto grow our membership.We will begin to hold quarterly Associate

Council meeting soon, if you are interestedin being involved, please e-mail me atjohn@dorneysecurity.com. We would beglad to see you there!

The calendar for the next 90 days isbelow:

MarchMar 9 Board meeting at the EPAB office,Mar 11-13 Home Garden Show dailystarting at 1100 o'clock in the morning until7 PM, Mar 23 Speed networking 2pmthrough 4 pm

AprilApr 8 Friday spring golf tournament atpainted dunes 0830 show up 1000 shotgun, Apr 13 Board and General meetingLate Apr Young Designers identifiedMayMay11 Board MeetingMay 27 through 12 Jun Parade of Homes (Westside)

You might wonder whether to buy lifeinsurance or not. Do you need deathcoverage, or is it just an additionalexpense?You might think you dont need life

insurance if you do not have children. Butthat is not always the case. If someonedepends on you financially, then youdefinitely need life insurance. This couldbe anyone in your life who will havefinancial trouble in the event of yourpremature death. It could be your spouse,kids or aging parents.Life insurance can prove valuable to

people in any of the following scenarios:You Are Single: Yes, contrary to what

people think, singles may also need lifeinsurance, depending on their life storiesand struggles. Many singles providefinancial support to their parents andsiblings who might have special needs.Even if they dont have financialresponsibility to anyone in particular, whathappens if they carry a lot of debt? In theevent of their death, that debt will pass to

their family. Life insurance can avert thisproblem.Life insurance can also help you make

the world a better place. Do you want toleave this world with something good whenyou die? Are you passionate about helpingothers and funding charities? Lifeinsurance makes it possible for you toleave a substantial legacy to the charitiesof your choice for just the cost of yourpremiums.Buying life insurance while you are

young and healthy lets you get coverageat the best rates available. Depending onthe type of policy you buy, you can lock inrates for five years, ten years or even yourlifetime. While rates are locked, yourpremiums wont change regardless of yourhealth condition.

You Own a Small Business: If you area business owner or entrepreneur, lifeinsurance can help you protect yourbusiness. In the event of your, a partnersor a key employees death, what wouldhappen to your business? Life insuranceprovides an acceptable solution to thisproblem in various ways: Key person life insurance: In the event

of death of a key employee, key personlife insurance provides funds that help theowners hire a replacement or anyalternative solution. Buy/sell insurance: This coverage

gives the other owners of the business thecash needed to buy the shares of thedeceased partner on a pre-agreed price,according to a buy/sell agreement.

You Are Married: If you are married

without children and think you dont needlife insurance, think again. With utility bills,car loans, mortgage or your monthly rent,credit card balances and so many otherexpenses, how will your spouse manage itall alone if you were to die tomorrow?Even if your spouse has a good income,monthly expenses could be a greatfinancial burden. Life insurance canreplace your lost income so your spousecan continue to live the same lifestyle.

You Are Married with Children: Havingchildren means you have more mouths tofeed. You likely want to ensure theireducational future as well. But what wouldhappen to the dreams you have for yourchildren if you were to die suddenly? If thecosts of a college education increase fivepercent per year, a four-year education ata private college could cost nearly$400,000 by the time a baby born this yearis ready to enroll. Life insurance can makesure that your dream lives on even afteryour death.

You Are a Stay-at-home Parent: Dontthink that the efforts of a stay-at-homeparent are easily replaceable. Cooking,cleaning, transportation, helping your kidswith homework and spending quality timewith them by managing their everydayroutines are mostly underappreciatedtasks. Even with you gone, your family willstill want someone to perform theseservices. Life insurance provides yourfamily a way to maintain their livingstandards and minimize some of thechanges and stresses caused by theuntimely death of a parent.

You Are a Single Parent: When youare a single parent, too much responsibilityfalls on your shoulders. You act as bothmother and father to your children. Youhave to take care of them day after dayand provide everything they need, fromfood to college tuition. What would happento your children if you die before theyreindependent?

You Have Grown-up Children: Onceyou are free of college expenses andmortgage payments, do you still need lifeinsurance? Answer this question bythinking how your spouse will maintain thequality of life that you have grownaccustomed to after working so hard.Would you want your spouse to strugglewith financial troubles after your death?You Are Retired: If correctly structured,

your beneficiaries will receive the proceedsof a life insurance policy free of incometax. Unlike an estate, which might have togo through probate, proceeds of a lifeinsurance policy are immediately payable.This lets your family take care of funeraland burial costs, debts and estate taxesimmediately without liquidating assets.

For a review of your financial situationand assistance in developing your financial

plan, please contact us.Employer Benefits of El Paso

(915) 542-0900joe@employeebenefitsep.com

w.employeebenefitsofelpaso.com

Builders Outlook 2016 issue 2

Joe BernalEmployer Benefits of El Paso

John DorneyAssociates Council Chair El Paso Disposal

772-7495

Who Needs Life InsuranceExpertAdvice

Loyalty to CommunityAssociatesCouncil

14

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EXECUTIVE OFFICERS

PRESIDENT

Carlos Villalobos

VICE PRESIDENT

Don Rassette

SECRETARY/TREASURER

Kathy Parry

ASSOCIATES CHAIR

John Dorney

ECECUTIVE VICE PRESIDENT

Ray Adauto

PAST PRESIDENT

Edgar Montiel

Membership Retentiion

Patrick Tuttle

Finance Committee

Kathy Carrillo

Henry Tinajero

ADVISORY TO THE BOARD

Jay Kerr, Firth, Johnston, Bunn & Kerr

James Martinez, Law Office of James Martinez

BOARD OF DIRECTORS

Antonio Cervantes, BIC Homes

Leti Navarrete, Dream Homes/Bella Homes

Robert Najera, Joseph Custom Homes

Bud Foster, Southwest Land Development Services

Walter Lujan, Dawco Home Builders

Fernando Torres, CTU Metro Homes

Leslie Driggers-Hoard, Homes By Design

Edgar Garcia, Bella Vista Cutom Homes

Mark Winton, Mark Winton Homes, Inc.

Jason Cullers, Cullers Homes

Samira Gonzalez, ICON Custom Homes

Sal Masoud, DRE Development

Joe Bernal, Employer Benefits Of El Paso

Linda Troncoso, TRE & Associates

Bret Thompson, Foxworth Galbraith Lumber

Ted Escobedo, Snappy Publishing, LLC

Patrick Tuttle, Legacy Real Estate

Sam Trimble, Lone Star Title

Luis Rosas, HUB International

Gilbert Pedregon, GECU

Gregg Davis, First Light FCU

TAB STATE DIRECTORS

Randy Bowling

Greg Bowling

Sam Shallenberger

NATIONAL DIRECTORS

Bobby Bowling IV.

Demetrio Jimenez

2015 Builder Member Of The Year

Edgar Montiel

Palo Verde Homes

2015 Associate Of The Year

Interceramic Tile

2015 John Shatzman Award

Bradley Roe

Honorary Life Members

Mark Dyer

Wayne Grinnell

Don Henderson

Chester Lovelady

Cliff C. Anthes

Anna Gill

Brad Roe

Rudy Guel

E H Baeza

Past Presidents

Committed to Serve

EPAB Mission Statement:The El Paso Association of Builders isa federated professional organizationrepresenting the home building

industry, committed to enhancing thequality of life in our community byproviding affordable homes of

excellence and value.The El Paso Association of Buildersis a 501C(6) trade organization.

2015 Builders Outlook is published and distributed for the El Paso Association of Builders

by Ted Escobedo, Snappy Publishing, LLCted@snappypublishing.com

El Paso Texas 915-820-2800

6046 Surety Dr. El Paso, TX 79905 915-778-5387 Fax: 915-772-3038

Greg Bowling

Kelly Sorenson

Mark Dyer

Mike Santamaria

John Cullers

Randy Bowling

Doug Schwartz

Robert Baeza

Bobby Bowling, IV

Rudy Guel

Anna Gil

Bradley Roe

Bob Bowling, III

Edmundo Dena

Hershel Stringfield

Pat Woods

NATIONAL ASSOCIATION OF HOME BUILDERS

(800) 368-5242

TEXAS ASSOCIATION OFBUILDERS(800)252-3625

For All Your Electrical NeedsResidential Specialists

Tract Homes Custom Homes

915-208-9313 602-708-7560

Total CustomerSatisfaction

15BuildersOutlook

2016Issue 2

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