Builders utlook

www.elpasobuilders.com 2014: issue 10

New home sales increased only
slightly in September, up 0.2 percent
over August, bringing the annual rate of
those sales to 467,000. Sales were up
17.0 percent from the September 2013
pace of 399,000 units.
Perhaps bigger news in today's joint
release from the Census Bureau and
the Department of Housing and Urban
Development was the revision to the
August new home sales number. The
initial report of those sales indicated a
very significant 18 percent increase
over July's number, sending sales to a
seasonally adjusted annual rate of
504,000 and over the half-million mark
for the first time since May 2008. The
estimate was well over analysts'
expectations; the consensus had been
430,000 units. Turns out the analysts
were closer to the mark than the
government agencies which today
downgraded the August estimate to an
annual rate of 466,000.
This takes what had been a potential
trend of improvement back into the
stagnant sub-500k range that's been
intact throughout the post-crisis period.
On a non-adjusted basis there were
an estimated 38,000 new homes sold in
September, unchanged from the
previous month and 7,000 more than a
year earlier. A house sold during the
month was on the market a median of
3.1 months.
At the end of September there were
an estimated 207,000 new homes
available for sale, a 5.3 month supply at
the current absorption rate. This is up
from 183,000 available homes one year
earlier which was at that time a 5.5
month supply.
The median price of a new home sold
in September was $259,000 and the
average sale price was $313,200. In
September 2013 the median and
average sale prices were $269,800 and
$321,400 respectively.
New home sales in the Northeast
region were unchanged from August at
a seasonal rate of 30,000 units but that
was an increase of 20.0 percent from
September 2013. The Midwest had a
12.3 percent month-over-month
increase and sales were 6.7 percent
above a year ago with an annual
estimate of 64,000 units.
In the South annual sales were at a
261,000 unit pace, up 2.0 percent for
the month and 18.6 percent on an
annual basis. The West saw an 8.9
percent drop in new home sales in
September but the rate remained 19.1
percent higher than the same month in
Suddenly, The New Home Sales Trend is Flat Again
Why California Is In The Middle Of Another Housing Crisis
Affordability and mortgage lending issues abound
Editors note: The saying so goes
California, so goes the rest of the
country may apply in this instance.
Read an insight from the CEO of the
Realtors Association in California to
get a preview of what may come to the
rest of us. His warnings have long
range implications.
Decades from now, when history
writes the story of the Millennials, they
may well be remembered as the first
generation for whom using
smartphones and social media was as
natural as taking a breath. Yet unless
things change, theres a good
possibility theyll also be known as the
generation that couldnt afford to buy
or rent a home.
Its ironic that when the first
Millennials were born, their Baby
Boomer parents couldnt afford a home
either. Looking back to October 1981,
interest rates on a 30-year, fixed-rate
mortgage exceeded 18%. It wasnt
until rates fell below 10% in 1986, and
to the 7% range in the early 2000s,
that affordability ceased to be a major
impediment to homeownership.
Today, Californias housing
affordability problem is back only this
time it is fueled by rising home prices
and lack of access to capital rather
than double-digit interest rates.
On Nov. 14, the California
Association of Realtors will convene
economists, policymakers, and
practitioners for The Real Estate
Summit: Partnering for Change in
California. The summit will explore the
issue of housing affordability, as well
as Californias infrastructure, foreign
investment, consumer trends, housing
finance, and policy implications.
So how serious is the problem?
CARs Housing Affordability Index
which tracks the percentage of
households that can afford a median-
priced, single-family detached home
assuming current interest rates and
20% down fell from 33% in the first
quarter of 2014 to 30% in the second
quarter, a 26% decline from a peak of
56% in early 2012. While home buyers
needed to earn an annual income of
$56,320 to purchase the median-
priced house two years ago, today
they need an additional $37,270, or
$93,590 total annually, to qualify.
The reasons behind the decline in
affordability are many: slower-than-
expected economic growth, incomes
that havent kept pace with rising home
prices or rents, pent-up demand, lack
of supply, tighter lending criteria in
response to new mortgage regulations
from Congress, and indecision about
the future of Fannie Mae and Freddie
Mac, to name a few.
What the numbers dont reveal is the
impact the problem is having on
individuals and families. Nationally,
more than half of adults surveyed say
theyve taken a second job, postponed
retirement contributions, run up credit
cards, or moved to a cheaper
neighborhood in order to cover their
rent or
mortgage
over the
past three
years,
according
to the
MacArthur
Foundation.
Another study
reports that
45% of college-
educated
Millennials have
moved back in with
their parents because
they cant find a job or
the one they have doesnt
cover student loans and a
place to live.
A lack of new home
construction is likely to cause
further affordability issues unless
housing starts increase in line with
local job gains, according to the
National Association of Realtors. Its
analysis found that too few homes are
being constructed in relation to local
job market conditions, and that lack of
construction has hamstrung supply
and slowed home sales.
Here in California, it has been
estimated that the post-recovery real
estate market could easily absorb
250,000 new units of owner-occupied
or rental housing a need that isnt
even close to being fulfilled.
What's the key reason?
Many small builders continue to
experience limited access to credit and
rising construction costs. Despite
strong demand, the number of single-
family housing permits issued in
August 2014 declined by nearly 21%
from the same month in 2013, while
the number of multifamily permits was
down almost 24% year over year.
There are some who believe
Californias housing affordability
problem will work itself out as the
economy improves and
consumer expectations
align with real estate
market
realities. They
may be right.
The
question
is: What
will be the
ultimate
cost of such
inaction,
both now
and over the long term?
By Joel Singer, CEO California
Association of Realtors
as reported on Hardwire.com
At the end of September there
were an estimated 207,000 new
homes available for sale, a 5.3
month supply at the current
absorption rate. This is up from
183,000 available homes one year
earlier which was at that time a 5.5
month supply.
2
Builders Outlook 2014 issue 10
NATURAL GAS IS THE
BLUEPRINT FOR SUCCESS
The most successful builders see that natural gas homes are instantly more
attractive to buyers.
When you build homes equipped with natural gas and weatherized with
energy-efcient windows and insulation, you can reduce your customers
utility bills year-round and help boost your sales numbers today.
For more on how to use natural gas to turn prospects into buyers, contact
Eduardo Lucero at ealucero@texasgasservice.com or (915) 680-7216.
My message for this month is dedicated mostly on giving thanks to all the
members that had, and still are participating in the different activities and
events for the month of October. The Home and Garden show at the Civic
center was very successful, even thou the traffic appeared to be less than last
year, vendors were very happy with the sales, less people but more serious
buyers. Thanks to all the participants especially, Ray, Margaret, members
that supply information at the association booth and most of all to Edgar
Montiel (Palo Verde Homes) his crew, subcontractors and all the suppliers
that contributed with materials and appliances for building that beautiful home
inside the Civic center. That is a lot of work to build and dismantle one house
in just a few days, thanks Edgar. If you did not make it to the October general
meeting you missed an eye opener presentation on how and where the
money collected by the Water Utility for storm water is invested all around our
city. The presentation was made by the president and CEO of El Paso Water
utilities John Balliew. Thanks John. Thanks to all the builders that entered
their homes on the 2014 Treasure Tour of Homes. We had almost fifty homes
to show around El Paso and New Mexico, it will run from October 24th to
November 2nd. The association golf tournament (El Paso Desert Open) will
be taking place November 5 at Painted Dunes Golf Course, thanks to all the
members that will be sponsoring this event by putting a team together and,
or buying any other form of advertisement. Special thanks to Sam
Shallenberger and Ray and all that make this a fun day and also a good fund
raiser for our Association. Have a blessed month and do business with a
member.
Presidents Message |
El Paso Disposal
772-7495
3
2014 issue 10 Builders Outlook
Frank
Torres
President,
El Paso Association
of Builders
Showroom:
2131 Missouri
915 533 6045 fax 533 6096
Thomas R. Brown, Owner
The El Paso new home market is in
flux, that is to say that we are once again
doing something that other parts of the
country did earlier, drop in building. Well
to be honest our builders are still building
just not like the rest of the country. For
the first time in a number of years
builders have inventory and that
inventory is harder to close on than
before. I get asked seemingly every day
about why this is so. Discussions with
members will quickly tell you why and
add some caveats to the general answer.
First of all the Fed brought on new rules
in January that simply swung the
pendulum too far in protecting the
consumer from a bad loan. In doing so
the Fed created mortgage rules that
hamper the average person from
qualifying for a loan. Credit requirements
and the deadly debt to income ratio really
hurts locals from qualifying. Credit is
more of a necessity in El Paso as we see
people wanting more than they can afford
and using credit to get it. Want a new
TV? Easy payments and free delivery.
Need a car? Low down and easy
payments. Kids need new clothes? Put it
on the card. Its really no different than
other American cities, only this city has a
lower average family income than other
places like Dallas or Houston, Phoenix or
San Antonio. So credit, in fact, is used
daily here where in other parts cash or a
check would pay for the wants. Therefore
the debt to income ratio is the first
obstacle. Secondly is the increasing price
of homes, primarily because of increased
costs associated with building a home.
New codes, permit fee increases, fees for
this and that, higher costs of land and
supplies all add up. Were not immune to
these but it seems to come at the worst
possible time when permit fees and
everything else goes up. I have a third
story here, one you may not like but it
affects every new residential property:
BRAC is over and the military is building
on post what normally would be in the
private sector. This has to contribute to
lower sales and rentals of apartments
outside the wall. Members are used to
building for the military but the military is
in the construction business competing
directly for that customer. Any time a
military installation is constructing
housing it diminishes the ability of the
private sector to join in the build out. In
fact since BRAC concluded sales and
rents have declined and inventory has
gone up. Look at the deals on
apartments. Back to the days of yore.
Free first month, no deposits,
upgradesyeah its like 2002 all over
again. El Paso has over a 7% vacancy
rate on apartments, the highest in Texas.
How do you get people to invest when
this is happening? You dont.
So here we are as Texas is setting new
records for home construction and El
Paso is left at the door. We created the
Treasure Tour of Homes to stimulate the
new home market and while its not the
magic pill at least we have consumers
talking about new homes. You all know
that its better to prepare for a realistic
2015 now, one that will continue to evolve
hopefully into a much better year than
2014.
The EPAB supports Prop 1 on the
ballot for a lot of reasons, not the least of
which is that Prop 1 is going to be the
start of needed funding for road work in
Texas. Many Texas roadways are in dire
shape and TxDot has to piece meal
repairs or construction because the
money isnt in the traditional funding.
Passing Prop 1 will give us a start up on
getting the needed work done. Vote YES
for Prop 1.
Finally customer service. When we
announced the Treasure Tour of Homes
the first reply I got on email was from a
sales person concerned about the
hours of the tour. The message was that
we would be open too many hours, too
late, and people have things (whatever
that means) to do Sundays. I was
amazed. The builder is risking everything
so that the sales person has a product to
fill the needs of a potential customer. The
show runs 10 days. You figure it out. If I
was the builder who this sales person
represents I would change sales
persons. How arrogant to suggest
otherwise. Sales dont magically appear,
they have to be worked on. I can
thankfully count so many of the sales
professionals who spend a lot of time
working with a client, looking out for both
the client and the builder, and selling
whats in the best interest of both. In the
process the sales person makes money
which pays for a home, family and bills
with maybe a little to splurge or save. To
the 98 percent of you that do the job
without whining congratulations. Thats
customer service with a purpose. To the
other 2 percent maybe you need to find
something else to do. Your attitude may
infect others. Take some time to watch
some TV shows like The Profit, or Hotel
Impossible or Shark Tank. Learn
something or get out of the way so the
sales get done. Nothing is accomplished
without work.
Perspective
Ray Adauto,
Executive
Vice President
EPAB
4
Builders Outlook 2014 issue 10
Homes, roads, and customer service
5
2014 issue 10 Builders Outlook
Remodeling Market
Reclaims All-Time
High
The National Association of Home
Builders (NAHB) Remodeling Market
Index (RMI) reclaimed the high-water mark
of 57 in the third quarter of 2014. This is
the sixth consecutive quarter for an RMI
reading above 50.
An RMI above 50 indicates that more
remodelers report market activity is higher
(compared to the prior quarter) than report
it is lower. The overall RMI averages
ratings of current remodeling activity with
indicators of future remodeling activity.
Most remodelers remain confident that
the market is improving as home owners
undertake renovations, large and small,
said NAHB Remodelers Chair Paul
Sullivan, CAPS, CGR, CGP, of Waterville
Valley, N.H. The consistency and
longevity of positive RMI readings are in
line with the gradual recovery of the
housing industry.
The RMIs future market conditions
index rose to 58 from 56 in the previous
quarter. All four of its subcomponents
calls for bids, amount of work committed
for the next three months, backlog of jobs
and appointments for proposals
increased or remained level with the
previous quarters reading.
The current market conditions
component of the RMI increased one point
to 57 this quarter. A two-point gain was
made among the categories of large
additions as well as smaller remodeling
jobs with readings of 56 and 58,
respectively.
The stabilization of the RMI in the mid-
50s for more than a year demonstrates the
slow, steady recovery of the housing
industry that we expect to continue, said
NAHB Chief Economist David Crowe. The
major headwind to a stronger recovery is a
shortage of qualified labor and
subcontractors in some parts of the
county, making if difficult for remodelers to
employ carpenters and finish projects as
quickly and economically as many of their
customers expect.
For the full report, visit nahb.org/RMI.
For more information about remodeling,
visit nahb.org/remodel.
Nationwide Housing
Starts Top 1 Million
For the third time this year, nationwide
housing starts surpassed the million-mark,
according to newly released figures from
the U.S. Department of Housing and
Urban Development and the U.S. Census
Bureau. Total housing production in
September rose 6.3 percent to a
seasonally adjusted annual rate of 1.017
million units.
These numbers show starts returning to
levels we saw earlier this summer, where
they hovered around one million units,
said NAHB Chairman Kevin Kelly, a home
builder and developer from Wilmington,
Del. We are hopeful this pattern of
modest growth will continue as we close
out the year.
Septembers uptick reveals that last
months dip in production was more of an
anomaly than a market reversal, said
NAHB Chief Economist David Crowe. I
expect we will see a continued recovery as
job creation grows and consumers gain
more confidence in the housing market.
Single-family housing starts were up 1.1
percent to a seasonally adjusted annual
rate of 646,000 units in August, while
multifamily production climbed 16.7
percent to 371,000 units.
Combined housing starts increased in all
regions of the country. The Northeast,
Midwest, South and West posted
respective gains of 5.3 percent, 3.5
percent, 4.2 percent and 13.9 percent.
Issuance of building permits registered a
1.5 percent gain to a seasonally adjusted
annual rate of 1.018 million units in
September. Multifamily permits rose 4.8
percent to 394,000 units while single-
family permits decreased 0.5 percent to
624,000 units.
Regionally, the Northeast, Midwest and
West registered overall permit increases of
12.3 percent, 8.2 percent and 5.9 percent,
respectively. The South posted a 4.7
percent loss.
Four-Month Upturn
Ends as Builder
Confidence Falls in
October
After four consecutive monthly gains,
builder confidence in the market for newly
built single-family homes fell five points to
a level of 54 on the National Association of
Home Builders/Wells Fargo Housing
Market Index (HMI), released today.
We are seeing a return to the mid-50s
index level trend established earlier in the
summer, which is in line with the gradual
pace of the housing recovery, said NAHB
Chairman Kevin Kelly, a home builder and
developer from Wilmington, Del.
While there was a dip this month,
builders are still positive about the housing
market. After the HMI posted a nine-year
high in September, its not surprising to
see the number drop in October, said
NAHB Chief Economist David Crowe.
However, historically low mortgage
interest rates, steady job gains, and
significant pent up demand all point to
continued growth of the housing market.
Derived from a monthly survey that
NAHB has been conducting for 30 years,
the NAHB/Wells Fargo Housing Market
Index gauges builder perceptions of
current single-family home sales and sales
expectations for the next six months as
good, fair or poor. The survey also
asks builders to rate traffic of prospective
buyers as high to very high, average or
low to very low. Scores from each
component are then used to calculate a
seasonally adjusted index where any
number over 50 indicates that more
builders view conditions as good than
poor.
All three HMI components declined in
October. The index gauging current sales
conditions decreased six points to 57,
while the index measuring expectations for
future sales slipped three points to 64 and
the index gauging traffic of prospective
buyers dropped six points to 41.
Looking at the three-month moving
averages for regional HMI scores, the
Northeast and Midwest remained flat at 41
and 59, respectively. The South rose two
points to 58 and the West registered a
one-point loss to 57.
TEXAS BUI LDER OF THE YEAR

A W A R D E D
We build so you can GROW
Industry News
6
Builders Outlook 2014 issue 10
The Economy
Unintended Consequences and Slower GDP Growth
Over the past 60 years GDP growth has
been spectacular, averaging close to
4%/year with GDP doubling every 20
years. More recently, GDP growth has
been lackluster, averaging about 2%/year
since 2000. As a
result, GDP now
doubles every 35
years. In part this
slowdown is due to the
recession, slowing
population growth and
a lack of corporate
investment in plant and
equipment. These are
temporary problems
that should not be overblown.
By contrast, those who believe in
Secular Stagnation ascribe the recent
GDP slowdown to the fact that our
economy is mature, that our best days are
behind us and that technology can no
longer deliver like it has. While I think the
notion of Secular Stagnation is bunk, our
GDP growth of the last century or century
and a half has been, without a doubt,
artificially inflated. This is because we
have ignored the law of unintended
consequences.
Every time we invent something new,
more often than not, something
unexpected goes wrong. Burning coal,
which brought about the industrial
revolution, badly fouled the air leading to
the premature deaths of millions. The
automobile helped usher in acid rain,
gaining access to cheap sugar created
tooth decay, working at computers all day
is making us fat, asbestos causes lung
cancer, antibiotics create super bugs,
aerosol almost destroyed the ozone layer,
leaded gasoline lead to lead-poisoning,
chemical dumping and the burning of
fossil fuels releases mercury into the air
and from there, rainfall washes it into the
ocean and into fish. And now we face the
enormously expensive issue of global
warming. (And dont even ask about
Dodd-Frank).
My point is not that technological
progress is bad. Quite the contrary, its
great, but its not quite as great as we
think because the negative
consequences arising from it are never
accounted for. The premature death of a
coral reef, the rise in skin cancer rates
and the eutrophication of coastal waters -
to give just a few examples- are ignored
when calculating GDP. And these costs,
along with the costs of remedying these
damages are both large and unknown.
Moreover, monies spent cleaning up the
messes caused by technological progress
actually make GDP bigger. Now that we
are more aware of unintended
consequences we may be less optimistic
about the future. And GDP growth going
forward may be slower than in the past,
but this is not due to Secular Stagnation.
Its simply a sign of economic maturation
along with a better awareness of our
impact on the planet.
Moreover, this realization should not
cause us to give up on technological
innovation. As a matter of fact, the only
way to fix the problems mentioned above
is with more technology. Genetically
modified food is the only way we are
going to feed the fast growing population
of the planet and the impact of global
warming and rising sea levels will only be
mitigated with new building technologies
and improved energy sources, even
though they will undoubtedly cause
unintended consequences.
Compared to 10, 20 or 30 years ago,
GDP growth appears to be slowing.
Some of the reason is cyclical, but some
is because our estimates of earlier GDP
growth were excessive because we did
not take into account the unintended
consequences of new technologies.
What is for sure is that if we stop
designing and applying new technologies
to solve problems, GDP growth will slow
further.
Elliot Eisenberg, Ph.D. is President of
GraphsandLaughs, LLC and can be
reached at Elliot@graphsandlaughs.net.
His daily 70 word economics and policy
blog can be seen at www.econ70.com.
Elliot Eisenberg
WEST
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1) 228OO
stewart.com/el-paso
YOU BUILD.
WE CLOSE.
TOGETHER WERE
GROWING EL PASO.
Your Westside Team.
W
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R
The 2014 Fall Home and Garden show
went off without a hitch and thousands of
visitors enjoyed the displays. Show
Technologies from San Antonio delivered
another spectacular show with special guest
Wayde and Bret from Animal Planets
TANKED!
Featured at the show was a beautiful
display home constructed by Palo Verde
Homes, a stunning exhibit with a bedroom,
kitchen, bath and living room plus a beautiful
outdoor component. What we want to show
is that you can create some really cool areas
with the right materials and the right
suppliers, Edgar Montiel, Palo Verde
Homes. Building inside the convention
center is a challenge since we have only a
limited time to do it and there were other
events going on just on the other side of the
wall, Montiel recounted.
Suppliers were the following: BMC West,
Cabinet Masters, Designers Mart, Dunn-
Edwards Paints, Ferguson, Forever Green
Landscaping, Foxworth-Galbraith,
Interceramic, Jack White Building
Specialties, Lowe's Home Improvement,
Marble and Granite Design Concept,
Plasterqueen, Rio Grande Stucco Products,
Sunwest Windows & Glass, Supreme Glass,
St. Mary's Custom Shutters, Trim Team,
Morrison Supply/Western Wholesale Supply.
We had a really good turnout and the
visitors could see a very sharp group of
exhibitors who had time to work with them to
ensure they got information, said Tommy
Mantini, Co-owner of Show Tech. Although
the crowds were spaced throughout the
weekend most of the exhibitors felt good
about sales and appointments. One
exhibitor, Mechanical Technologies, told the
Outlook that they had more leads at this show
than the one in the spring. Actually it looks
like all of us had some really good
opportunities to talk with the visitors, said a
representative.
The Fall Home and Garden show will be
back next fall, not in the spring as usual. We
cant use the Convention center because it
will be turned into a bowling alley for the
mens Bowling Congress. We cant use
another facility because frankly we wont fit
and we want this to be a first class show,
Mantini said. We hate that we cant come
back in the spring but we know that the fall
show is developing quite nicely, he
continued.
Attendance numbers were not finalized at
press time but clearly the numbers were full
of buyers rather than tire kickers. We love
this show because we can make sure that our
big advertisers like National Furniture
Liquidators who provided a man cave to one
lucky winner get great exposure, said JoJo
Garcia, program manager at KOFX 92.3 FM.
The El Paso Association of Builders
partners exclusively with Show Technologies
to produce our Home and Garden Shows.
7
2014 ISSUE 10 Builders Outlook
Builders utlook on the scene |
Fall Home Show a success
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Palo Verde Home ho$caed !heir home b"ilding a!
!he Fall Home & Garden Sho$. Vii!or had a
chance !o #ie$ !he la!e! !rend a#ailable in o"r
marke!. The El Pao Aoci!ion of B"ilder recogmi&e
!heir !ime, !alen! and effor!.
el paso development news
An Aloft Hotel location will open in
Downtown El Paso, according to a press
release issued today. The hotel, which is
part of the Starwood Hotels group, will
open in July of 2016.
The hotel will include 100 "loft-like"
rooms, an indoor pool, a W XYZ bar, and
3,000 square feet of meeting space,
according to the press release.
Aloft is a great match for the dynamic
city of El Paso and will appeal to the
next generation of travelers with its
urban design, live music at the W XYZ
bar, and unbeatable location at the heart
of downtown, states Brian McGuinness,
Senior Vice President, Specialty Select
Brands for Starwood in the press
release. The enthusiasm of travelers
worldwide is fueling the Aloft brands
rapid growth as it approaches the 100th
hotel milestone.
Though no Downtown address or loca-
tion is identified in the press release, the
Aloft hotel will most likely occupy the his-
toric Bassett Tower, a 15-story high rise
at 303 Texas Avenue. The art deco office
building, which was designed by Henry
Trost and completed in 1930, is currently
vacant.
The hotel is being developed by
Bassett Partners EP and will be man-
aged by Aimbridge Hospitality.
An Aloft Hotel will open at Bassett Tower in Downtown El Paso in 2016.
ADP o Add 150,000SF Facili$ in Wes El Paso
Automatic Data Processing (ADP) will
double its presence in El Paso by 2020,
including adding another building to cre-
ate a West Side campus. The company
announced last week that it intends to
hire an additional 1,100 employees to
add to the approximately 1,100 existing
employees.
In its announcement, ADP states it will
construct a 150,000 square foot facility
adjacent to its existing building on Resler
Drive, about half a mile south of Loop
375. The new structure will be located
immediately north of the current building,
creating an ADP Campus of sorts. This
is the same size as the current building
on Resler.
This isnt the first expansion announce-
ment that ADP has made for its El Paso
office. In 2012, the company announced
plans to create an additional 585 jobs in
the Sun City and invest $21 million to
expand its operations, a deal that result-
ed in an incentives package from the
City of El Paso. Those expansion plans
never moved forward.
The City is now poised to amend that
agreement to increase the number of
jobs that ADP must be create to 1,100
and the amount of the required invest-
ment to $41 million. In return, the City
will provide tax rebates to ADP.
ADP has until the end of 2015 to begin
construction, though groundbreaking is
expected before the end of 2014. The
new building must open by the end of
2017, though ADP expects to open by
September of 2015.The City will also
take action at its September 16, 2014
meeting to nominate the expansion as an
Enterprise Zone Project through the
Economic Development Bank of the
State of Texas.
ADP also operates a center on two
and a half floors of Stanton Tower in
Downtown El Paso. It is unclear if that
location will remain open or will be incor-
porated into the West Side expansion.
This is the third major announcement
in El Paso this year regarding major
opening or expansion plans for call- and
solutions-centers. Prudential Financial
announced in April that it will open a
business and technology services cen-
ter in El Paso that will add 300 jobs. It
will use an existing building in East El
Paso.
And in July, Charles Schwab
announced that it will create a new oper-
ations center in El Paso that will add 445
data entry and processing jobs. It will
invest $21.5 million and open in West El
Paso.
Anoher Union Pla%a B!ilding Ma$ See Reno"aion
Structure in Downtown El Paso is One Block from Ballpark
Union Plaza, one of Downtown El
Pasos most unique neighborhoods, could
see the renovation of another of its his-
toric buildings according to concept
images posted online.
The building, located at 500 San
Francisco on the western edge of
Downtown, is the current home of The
Plum lounge and famously housed Club
101 several years back. Its current size is
at about 11,700 square feet, but 13,181
square feet would be available to lease
due to the expansion and renovation.
Spaces will be for retail and restaurant
uses.
According to renderings of what the
structure may look like once construction
is complete, the facade will see a major
changes including storefronts with large
windows, varying materials, and landscap-
ing.
A tall glass shaft will take a prominent
spot along Durango Street, rising up to a
new rooftop terrace that may also be
available to lease. Spacious patios could
hold seating areas on sidewalk portions in
front of the building, which are wider than
usual.
The building is located a baseball throw
away from the Triple-A ballpark, which is
just to the northeast. It is also at the west-
ern terminus of the pedestrian pathway
currently under construction on the north-
ern side of the convention center.
The renderings, which were created by
PhiloWilke Partnership of El Paso
(www.pwarch.com), have been posted on
a commercial listing at LoopNet
(www.loopnet.com). According to the list-
ing, the renderings and tenant names are
for marketing purposes only, meaning the
eventual project may look different once
realized.
This is the latest in a string of proposed
Union Plaza renovation projects that have
sprung up in recent years. The most
recently announced project is the renova-
tion of a vacant building less than two
blocks away. That project, at 513 West
San Antonio, is creating a mixed-use
development that includes apartments and
retail.
Alof Hoel Confirmed
for Do#no#n El Paso
A Downtown El Paso structure in Union Plaza may see renovations
soon, according to renderings posted online. (www.loopnet.com)
New Building Part of Companys Plan to Increase Workforce by 1,100
Builders Outlook Issue 10.2014
Content provided by
El Paso Development News
visit: elpasodevnews.com
A South El Paso neighborhood near
Downtown will see a brand new apart-
ment building rise within about twelve
months, just one block south of Paisano
Drive. Groundbreaking was held Thursday
for the 88-unit Campbell Apartments at
501 South Campbell Street.
The urban, mixed-use building will rise
five stories, with retail and parking on the
first level and apartment units on the
upper floors.
There will be 3,654 square feet of store-
front retail space available which may be
divided in up to four separate tenants.
Behind the retail spaces, there will be 48
parking spaces in a covered garage.
On floors two through five, there will be
a total of 16 one bedroom, 56 two bed-
room, and 16 three bedroom units.
Apartments will surround an interior court-
yard, and most will have balconies along
the outside overlooking Campbell Street
and Third Avenue.
According to the project's developer,
Soto Enterprises, Inc., apartment units will
include kitchen appliances along with a
washer and dryer. The apartments will be
energy efficient and have refrigerated air.
"Our hope is to help remove the stigma
that has come to be associated with this
area and encourage other builders and
organizations to invest in the downtown
area by building these apartments," states
Joe Soto, Chief Operating Officer of Soto
Enterprises.
Access to the apartment levels and to
the parking garage will be secured. In
addition, residents will be able to choose
whichever internet, TV, and telephone
provider that services the area.
Buildings that previously existed on the
half block in South El Paso have already
been demolished, meaning the ground-
breaking will be the beginning of new con-
struction.
Soto hopes to have the project complet-
ed in under a year. Exigo Architecture and
Micca Builders, both of El Paso, are also
involved in design and construction of the
Campbell Apartments.
The groundbreaking was held Thursday,
October 9, 2014
Go#nd Boken
fo Campbell
Apa"men"! Nea
Do%n"o%n
Fi!" Do%n"o%n Wa'finding Kio!k! In!"alled
After years of planning and develop-
ment, wayfinding signs and kiosks are
now being placed around Downtown El
Paso.
The first phase of the project includes
18 wayfinding kiosks and 28 directional
signs attached to existing street light fix-
tures, according to downtownelpaso.com.
The kiosks are generally four-sided and
will come in two sizes, a medium nine-foot
tall kiosk, and a larger 12-foot high kiosk
that includes overhead lighting powered
by solar panels.
The Downtown Management District is
managing the project for the City of El
Paso.
LEFT: One of the first wayfinding kiosks
in Downtown El Paso was installed last
week. It includes overhead lighting pow-
ered by solar panels.
(downtownelpaso.com)
A 90-acre portion of the Horizon
Airport will become a residential devel-
opment. Thats according to an applica-
tion filed with the El Paso City Plan
Commission.
The developer of the project, listed as
DVEP Land, LLC, is proposing 457 sin-
gle-family homes for the site, which is
about a mile east of Joe Battle
Boulevard and half a mile south of
Pellicano Drive.
Two parks are also planned for Sky
View Estates, as it is called in the appli-
cation. The property is a long, narrow
piece of land that runs about one mile
from east to west.
Horizon Airport, originally named West
Texas Airport, was a private, family-
owned runway that served general avia-
tion flights. In all, the airport land con-
sists of 200 acres.
The property is located outside of El
Paso city limits, but within the Citys
Extraterritorial Jurisdiction (ETJ). This
requires the property to file subdivision
applications with the City of El Paso.
Hoi(on Aipo"
Ma' Become
Re!iden"ial
De$elopmen"
Project Could Replace Airstrip
with 457 Single-Family
Homes, Two Parks
No"hing B#nd" Cake! Ne&" )Fo#n"ain!* Tenan"
A new tenant could bring specialty pas-
tries to the Fountains at Farah in East El
Paso, according to permits filed with the
City. Nothing Bundt Cakes will open up a
spot in the shopping center.
According to the retailers website
(www.nothingbundtcakes.com), Nothing
Bundt Cakes stores offer bundt cakes in
an assortment of flavors such as Red
Velvet, White Chocolate Raspberry,
Carrot, and Lemon, among others.
Cakes also come in different sizes,
according to the site, including Bundtinis,
Bundtlets, and larger sizes such as dou-
ble-tiered cakes. Stores also sell gift
items, cards, and decor.
The store will be the first in El Paso for
Nothing Bundt Cakes, which has head-
quarters in Las Vegas. Nothing Bundt
Cakes was founded in 1997 and has
around 80 stores in the United States,
including several in Texas. No word on
the timeline for opening the El Paso loca-
tion.
The Campbell Apartments will rise five stories in South El Paso, just
south of Downtown, as shown in this rendering. Construction could be
complete by fall of 2015. (Courtesy Soto Enterprises)


The open enrollment period for
health coverage during 2015 runs
from November 15, 2014 to
February 15, 2015. Coverage can
start as soon as January 1, 2015.
This applies to individual plans only;
businesses can offer coverage to
their employees at any time.
Starting in 2015, employers with
100 or more full-time employees
must offer health coverage to their
full-time employees or pay an
"employer responsibility" penalty.
The penalty will apply to employers
with 50 or more full-time employees
starting in 2016. To avoid a payment
for failing to offer health coverage,
employers will need to offer
coverage to 70 percent of their full-
time employees in 2015 and 95
percent in 2016 and beyond. This
helps employers that, for example,
may offer coverage to employees
who work 35 or more hours, but not
yet to those who work 30 to 34
hours. (Unlike most employers, the
Affordable Care Act considers
employees who work 30-39 hours
per week "full-time.")
The Affordable Care Act exempts
businesses with 50 or fewer full-time
equivalent (FTE) employees from
having to provide health insurance.
However, if you want to offer
coverage, you can use the Small
Business Health Options Program
(SHOP) Marketplace. Employers
that offer SHOP coverage and have
fewer than 25 full-time equivalent
employees may qualify for a Small
Business Health Care Tax Credit.
Employers must pay at least 50
percent of their full-time employees'
premium costs.
The tax credit is worth up to 50
percent of the employer contribution
(up to 35 percent for tax-exempt
employers). As licensed insurance
agents, we can help you compare
SHOP plans to other available
options and help you enroll in
whichever is the best fit for your
business...at no extra cost to you.
For more information contact
Joe Bernal
joe@employeebenefitsep.com
915-542-0900
(c) Copyright 2014 Employee Benefit
News. All rights Resrved.

























10
Builders Outlook 2014 issue 10
Affordable Care
Act Update
For All Yo!r Elecrical Needs
Residenial Specialiss
Trac Homes " C!som Homes
915-629-9196
800-853-3996
Total Customer
Satisfaction
Expert Advice
Joe Bernal
Employees
Benefits of
El Paso
Fed uses key words
in decision
The Federal Reserves main policy
decision in October comes down to a
handful of key words that offer a sense of
how much longer central bank officials
intend to keep short-term interest rates
near zero.
Fed policy makers meeting in late
October are likely to debate whether to
keep the language in their previous policy
statements pledging to keep their
benchmark rate near zero for a
considerable time after their bond-buying
program ends.
They are highly likely to vote to stop the
purchases, so that language will have to
be tweaked at least slightlybut perhaps
just so.
One camp of Fed officials wants to drop
the considerable time phrase. Some
dont like it because they think it
overstates how long they are likely to wait
before raising rates. Others who are not
eager to raise rates soon are ready to
scrap the language because it implies the
decision on when to move will be based
on some time frame rather than on the
economys health.
Many investors expect the Fed to start
raising its benchmark short-term rate in
the middle of next year, a view some top
policy makers have encouraged.
The other camp of Fed officials wants to
leave the considerable time language in
the statement this week to avoid rattling
the markets, which have been volatile
lately because of slowing global growth.
These officials wouldnt want to drop the
phrase now and possibly prompt investors
to think wrongly that the Fed is likely to
raise interest rates sooner than expected.
They would rather wait to adjust the
language at Feds December meeting,
which is followed by a press conference at
which Chairwoman Janet Yellen can fully
explain any change.
While these policy makers remain
confident U.S. economic growth will hit a
3% annual rate in coming months, they
dont want to trigger a repeat of the so-
called taper tantrum that occurred in the
spring and summer of 2013.
At the time, then-Fed Chairman Ben
Bernankes suggestion that the central
bank might begin pulling back on the asset
purchases sent bond yields and borrowing
costs in the broader U.S. economy sharply
higher in a short time frame.
Some things in the statement are going
to have to change if we do end the [bond]
purchase program, Eric Rosengren,
president of the Boston Fed, said in a
recent interview. Well have to think about
exactly whats the appropriate wording
and certainly the financial context that
were in given the volatility weve seen in
markets. Were going to have to weigh
how best to avoid further unsettling
markets that seem to have unsettled
themselves pretty well on their own.
Among the financial developments the
Fed is monitoring is the recent surge in the
value of the dollar, which could hurt U.S.
exports and put downward pressure on
inflation, which has run below the Feds
2% target for more than two years.
By Pedro Nicolaci da Costa, WSJ
Wal-Mart to pay more
than minimum wage
Wal-Mart Stores plans to say goodbye
to the minimum wage.
The huge retailers chief executive,
Doug McMillon, said Wednesday that the
company plans to end minimum-wage pay
for its workers in the future. It is our
intention over time that we will be in a
situation where we dont pay minimum
wage at all, he said.
That plan would put Wal-Mart in a
league with Costco Wholesale and Gap
Inc. among employers committing to pay
workers more than the minimum wage.
President Barack Obama has publicly
saluted Costco, Gap and several small
businesses for voluntarily raising starting
pay. The federal government sets a $7.25
an hour minimum wage, but many states
now have higher pay floors.
As the largest private-sector employer in
the country, Wal-Mart could have an
outsized influence on the minimum wage
debate. Unlike Costco and Gap, Wal-Mart
hasnt put its weight behind the presidents
push to increase the federal minimum
wage to $10.10 an hour. Executives have
said they would remain neutral on the
proposal. So far the measure has failed to
gain support in Congress.
Less than 6,000 of the retailers 1.3
million U.S. employees currently make the
prevailing minimum wage, Mr. McMillon
said. The average hourly Wal-Mart worker
is paid $11.83 an hour. Thats below the
average hourly earnings of $14.46 for all
non-supervisor retail employee last
month, according to the Labor
Department.
Mr. McMillon said the company is
constantly weighing the balance of
compensation and benefits and believes
in a meritocracy, where employees earn
more as they take on additional
responsibilities and advance through the
retailer. His comments come as union
organizers and workers plan to stage
protests around the country Thursday
asking Wal-Mart to commit to hourly pay
starting at $15 an hour and offer
consistent, full-time work. Similar protests
have been held by fast-food workers and
union groups that represent low-wage
workers.
Hobby Lobby Stores Inc. and IKEA
Group are also among retailers that have
publicly committed to paying above the
minimum wage.But other businesses and
some economists warn that raising the
minimum wage could lead to job loss and
increased prices for customers. Senate
Minority Leader Mitch McConnell (R., Ky.)
has touted his opposition to raising the
minimum wage in his re-election
campaign.
If you engage in this kind of a minimum-
wage increase right nowyoure going to
destroy between half a million and a
million jobs, he said in a debate.
By Shelly Banjo and Eric Morath WSJ
11
2014 issue 10 Builders Outlook
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12
Builders Outlook 2014 issue 10
Paying employees means more than just issuing
checks. Your company also needs to keep
accurate records for current and past employees
for a certain period of time. There are record
requirements from both the IRS and the
U.S.Department of Labor, which enforces
employment rules for several other federal
agencies.
These records include the following information:
name, address, occupation, and Social Security
number, as well as details of compensation such
as the dates paid, tips, non-cash payments,
compensation subject to withholding and payroll
taxes, pay period, and fringe benefits provided to
employees. In addition, you must keep copies of all
pertinent federal forms filed.
To further complicate matters, there are
numerous state, local, and other regulatory
agencies that may require additional
recordkeeping. For example, various government
agencies enforce their own laws involving
unemployment insurance, wages and hours, child
support, creditor garnishment, and unclaimed or
abandoned wages.
Without the proper records, your company will be
unable to comply with regulatory requirements. If
you are subsequently audited by federal, state or
local agencies, you could be hit with back taxes,
interest and penalties.
Burden of Proof
The burden of proof, or the responsibility to
substantiate items on your tax returns, such as
payroll and payroll-related costs, at one time
rested entirely on the taxpayer. Since the passage
of the Internal Revenue Service Restructuring and
Reform Act of 1998, the burden has shifted to the
IRS in the event of a courtroom proceeding,
but only if you meet the requirements to retain
proper records and make them available for
inspection. So while the law now takes some of the
heat off taxpayers, it only applies if your company
diligently maintains records and cooperates with
reasonable IRS requests.
Obviously good records are vital but maintaining
them is a daunting task. Many businesses solve
this problem by outsourcing payroll. A payroll
service provider can relieve your business of the
many headaches involved in preparing paychecks
and reporting to government agencies, and it can
also store your documentation and provide you
with reports as needed. Recordkeeping is just one
more reason why outsourcing payroll makes sense
for so many businesses.b
By Dianne Parker
as reported by TAB partner Avitus Group
Payroll Record Guidelines
Employee earnings
Maintain a minimum of four years to
meet various state and federal
requirements.
Employee time cards
Keep for at least three years if your
business is subject to the Fair Labor
Standards Act (engaged in interstate
commerce), although it's a good
practice for all businesses to keep
the files for several years in case
questions arise.
Personnel records
Retain three years after an employee
has been terminated.
Employment tax records
Keep four years from the date the
tax was due, or the date it was paid -
whichever is longer.
The Burden of Payroll Record Keeping
Membership News
Thanks to our OCTOBER SODA SPONSOR:
POINTE HOMES
13
2014 Issue 10 Builders Outlook
www.elpasobuilders.com
www.epbuilders.org
UPCOMING EVENTS |
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NOVEMBER 12
BOARD MEETING
EPAB OFFICE
NOVEMBER 12-14
TAB MEETINGS
AUSTIN, TEXAS
DECEMBER 12
INSTALLATION
MARRIOTT HOTEL
With the busy schedule that is the world of
Rudy Guel he and his team spent a week
working on and upgrading the exterior of the
EPAB office. Guel Construction climbed on
the roof to cover the roof with a new coating,
spending days doing the work in the heat.
Guel Constructions crew worked long hours
with the latest materials. I know that the
work is hard but my guys are really good and
they think of this building as their place, since
they built it, Rudy said to the Outlook. In
the six years since we opened the building
weve been fortunate not to have any major
problems on the roof so our preventive main-
tenance was due to make sure we stay
good, he continued.
In addition to the roof work Guel also
applied a protective coat on the wood beams
in the front of the building and inspected the
walls, windows and other items. Work will
continue on some minor things that need
attention but all in all Guel Construction has
done a great job for the association. Our sin-
cere thanks to Rudy Guel and the crew.
Great job!
For the latest updates &
event information, visit:
elpasobuilders.com
Guel construction provides maintenance to association building.
14
Builders Outlook 2014 issue 10
I want to thank the volunteers who took
time to help at the Home and Garden show.
We could always use the help and so if you
didnt come out this year lets make plans
for you to be there next year. The more we
have the better, but where we need help is
in getting you IN the show to take
advantage of the potential customers
walking through. Fall shows tend to have a
more serious buyer looking to spruce up
before the holidays. I know Ive been guilty
myself about not thinking that way but after
looking at the crowds this time I have to
admit things have changed. In todays
economy you cant afford to miss even one
selling chance so why did you miss out on
the thousands who attended the show this
time? I think that excuses about not
affording a booth are not really thinking
through the deal. How many potential
customers did you talk to that weekend?
Five, ten, twenty or a hundred? You missed
a bunch by not putting a booth in, so chalk
it up and make plans for the next show in
October 2015.
I am pleased that weve had a pretty good
response to the Pro Am golf but we have
fallen short for advertising since weve not
experienced that in a long time. I
understand that business is tough but you
have to find sources to cut through and talk
with the decision makers and this
tournament is loaded with those. My thanks
to our new partner StrucSure Home
Warranty for stepping up and being the
lead. Scot Whisenant is working to make
sure you know who he and his company are
and were thankful. Another new sponsor is
Deutsch and Deutsch Jewelers out at the
Fountains at Farah. Roger Baron from D&D
is putting up a Rolex for the first person to
hit a hole in one on the Deutsch and
Deutsch par 3.
Were looking forward to the upcoming
installation dinner on December 12 and
much more for the new year. I want to ask
each associate member to include the
association in your marketing dollars next
year. Support what you can but support it.
Its vital during these lean times.
Sam Shallenberger
Western Wholesale Supply
Associates Council
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2014 Builders Outlook
is published and distributed for the
El Paso Association of Builders
by Ted Escobedo, Snappy Publishing
ted@snappypublishing.com
El Paso Texas 79912 915-820-2800
6046 Surety Dr. El Paso, TX 79905
915-778-5387 Fax: 915-772-3038
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TexAS ASSociATioN oF
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(800)252-3625
www.elpasobuilders.com
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