Matt Bower, Daily Times
04/14/2007
WARWICK - The cold weather yesterday wasn't enough to stop the hammers of Ron Phipps and a crew of more than 50 volunteers as they worked to complete a "house-in-a-box" to help survivors of Hurricane Katrina.
Once the house is complete, it will be shipped to the Gulf Coast for assembly. It is just one of 54 planned homes being built for survivors of the hurricane through a national campaign known as Operation Home Delivery, the brainchild of Phipps.Phipps, a Warwick resident, board member and past president of the Rhode Island Association of Realtors, said the plan came to him after speaking with a close friend of his, Marine J. Danny Cooper, an executive officer with the Alabama Association of Realtors."We were at a meeting in Washington, D.C., about six months after Katrina had hit and I said to him, 'So is everything back on track now,' and he said to me, 'Oh no Ron, disaster is starting to unfold now,'" Phipps said. After learning from Cooper that families in the Gulf Coast region were still struggling and dealing with the effects of Katrina, Phipps started to work with the National Association of Realtors (NAR) and Habitat for Humanity to come up with a way the agencies could help those families."We have a relationship with Habitat where we typically build one house per year with them, but for this cause we decided to do one per state," he said. Phipps said using the Operation Home Delivery program, the National Association of Realtors encouraged realtor associations throughout the country to sponsor and build a new home for victims of Katrina."It was really important last year when [Realtor associations] raised $70,000 in each state, especially for Rhode Island, because there are only 5,200 Realtors here, so that was a big deal," he said.Phipps said it costs $75,000 in materials alone to construct one "house-in-a-box," but he said realtor organizations across the country have raised more than $4.6 million with $270,000 coming from Habitat for Humanity. Every penny goes directly to the victims in need, he said.Phipps said there will be 54 houses in total; one from each state plus four more for four extra territories."I may have initiated this cause, but the Rhode Island Association of Realtors and NAR made this inspiring campaign possible," said Phipps, the New England-endorsed candidate for the president of the National Association of Realtors in 2011. "By combining our compassion, our vision and our sweat, I knew we could do something meaningful for Katrina victims."Phipps said not all of the houses will be built outside the area, as some Realtor associations, such as those in Massachusetts and Connecticut, have gone down to the region and helped build homes on site."Realtors have hearts of gold. We're in the shelter business, we're fixers and we're doers," he said.That good-will spirit was on display in New Orleans during a Realtor convention when thousands of Realtors donated their time to help the city, according to Ken Libby, owner of Stowe Realty in Vermont and vice president of the New England Region of Realtors."Twenty-eight thousand Realtors volunteered 8,600 hours of their time to help rebuild the city," said Libby.Phipps, who also visited New Orleans, said the level of devastation there was overwhelming. If one were to take all the houses in Vermont and shipped them down to the Gulf Coast, that number would be equal to the number of homes that were destroyed in the hurricane," Libby said."When you go block after block of empty, destroyed houses for miles, you can't help but have a great sense of loss. The thought of not doing anything about it doesn't even cross your mind," he said. "The lesson of this project is that we'll positively influence the lives of 54 families with the work we're doing."Phipps said he was there when a mother and her two daughters moved into the first completed home that was built in New Orleans last November."I felt like a proud parent to see the looks on their faces," he said. "People came together to do great things and everyone shared in the responsibility of making that happen."Phipps led volunteers from the Rhode Island Association of Realtors and from the Providence Chapter of Habitat for Humanity in a "wall-raising" ceremony yesterday morning to commemorate the program, which started in February 2006, he said."All houses will be built and delivered by the end of 2007," he said.
©Kent County Daily Times 2007
For more information please log onto www.phippsrealty.com
Saturday, April 14, 2007
Rhode Island Realtors Build Habitat House for Gulf
Phipps drives to build homes for Katrina victims
THE Warwick BEACON :
Written by SIBIELSKI, REBECCA
Thu, Apr 12 07
By REBECCA SIBIELSKI
“This is what realtors are all about. We are in the shelter business,” says Ron Phipps, national director of the National Association of Realtors (NAR).
Phipps talked this week about his involvement in building houses for Hurricane Katrina victims through a project called Operation Home Delivery. Phipps, along with the Rhode Island Association of Realtors (RIAR) and realtor associations across the country, is lending his hands to bring relief to the victims.
Phipps, the driving force behind the project, became involved shortly after he was appointed an NAR liaison for housing and diversity. He was attending an orientation at the Washington, D.C., headquarters about a month after Katrina when he bumped into a friend, former Marine Danny Cooper.
Cooper told Phipps that the disaster was continuing to unfold after the storm had passed. The impact was felt and the strong, stoic Marine cried as he put into words the overwhelming human loss.
Phipps, deeply affected by the aftermath of Katrina, began to work closely with the NAR to create a national program encouraging every realtor association across the country to take part in raising funds to build a new home for survivors, with the objective to build 54 homes by December 2007.
Faced with an estimated $3.75 million budget, a leadership committee consisting of volunteer realtors from all around the nation joined together to come up with a way to raise money. The Realtor Relief Fund agreed to contribute $5,000 per house and The Realtor Foundation donated the remaining amount with money they collected for charity.
To date there have been 48 houses funded with six more to go.
Today and tomorrow (a tent has been erected so that the work can proceed in the anticipated snow and rain) from 7:30 a.m. to dusk, volunteers from RIAR will join forces with Habitat for Humanity Providence Chapter in building a new “House-in-a-Box” that will be shipped to one of four locations in the Gulf Coast that were affected by Hurricane Katrina. Starting today participants will begin preliminary work on the houses and on Friday they will put together the exterior of a house to determine that the measurements are exact. The house will then be disassembled and shipped to a location to be erected in either Louisiana, Alabama, Mississippi or Texas. Beginning at 10 a.m. on Friday, Phipps will lead more than 30 RIAR volunteers in commemorating the event with a “wall-raising” ceremony at their parking lot, 100 Bignall St. in Warwick.
Phipps said that although he may have proposed the concept, it was the hard work of thousands of realtors that made the project possible. “The process took a long time and it was a lot of work, but we all made it happen,” said Phipps.
Phipps, along with other participants, has left messages on the houses he has worked on. The date, place the house was built, good luck notes and other inspirational messages will stay on the exterior until the house is completed.
When the idea was first proposed, some people questioned what difference 54 houses would make when there was an estimated need for 100,000. Phipps’ response was simple. “You have the ability to positively alter the lives of these families. When you see a little girl holding her doll in her arms, ready to move into her new home, you can’t help but be touched by what you’ve done.”
Chelo’s Bar and Grill, Big Fish, and Dunkin’ Donuts will provide food and refreshments for volunteers. Anyone interested in participating in the event can contact the RIAR at 785-3650.
For more information please log onto www.phippsrealty.com
THE Warwick BEACON :
Written by SIBIELSKI, REBECCA
Thu, Apr 12 07
By REBECCA SIBIELSKI
“This is what realtors are all about. We are in the shelter business,” says Ron Phipps, national director of the National Association of Realtors (NAR).
Phipps talked this week about his involvement in building houses for Hurricane Katrina victims through a project called Operation Home Delivery. Phipps, along with the Rhode Island Association of Realtors (RIAR) and realtor associations across the country, is lending his hands to bring relief to the victims.
Phipps, the driving force behind the project, became involved shortly after he was appointed an NAR liaison for housing and diversity. He was attending an orientation at the Washington, D.C., headquarters about a month after Katrina when he bumped into a friend, former Marine Danny Cooper.
Cooper told Phipps that the disaster was continuing to unfold after the storm had passed. The impact was felt and the strong, stoic Marine cried as he put into words the overwhelming human loss.
Phipps, deeply affected by the aftermath of Katrina, began to work closely with the NAR to create a national program encouraging every realtor association across the country to take part in raising funds to build a new home for survivors, with the objective to build 54 homes by December 2007.
Faced with an estimated $3.75 million budget, a leadership committee consisting of volunteer realtors from all around the nation joined together to come up with a way to raise money. The Realtor Relief Fund agreed to contribute $5,000 per house and The Realtor Foundation donated the remaining amount with money they collected for charity.
To date there have been 48 houses funded with six more to go.
Today and tomorrow (a tent has been erected so that the work can proceed in the anticipated snow and rain) from 7:30 a.m. to dusk, volunteers from RIAR will join forces with Habitat for Humanity Providence Chapter in building a new “House-in-a-Box” that will be shipped to one of four locations in the Gulf Coast that were affected by Hurricane Katrina. Starting today participants will begin preliminary work on the houses and on Friday they will put together the exterior of a house to determine that the measurements are exact. The house will then be disassembled and shipped to a location to be erected in either Louisiana, Alabama, Mississippi or Texas. Beginning at 10 a.m. on Friday, Phipps will lead more than 30 RIAR volunteers in commemorating the event with a “wall-raising” ceremony at their parking lot, 100 Bignall St. in Warwick.
Phipps said that although he may have proposed the concept, it was the hard work of thousands of realtors that made the project possible. “The process took a long time and it was a lot of work, but we all made it happen,” said Phipps.
Phipps, along with other participants, has left messages on the houses he has worked on. The date, place the house was built, good luck notes and other inspirational messages will stay on the exterior until the house is completed.
When the idea was first proposed, some people questioned what difference 54 houses would make when there was an estimated need for 100,000. Phipps’ response was simple. “You have the ability to positively alter the lives of these families. When you see a little girl holding her doll in her arms, ready to move into her new home, you can’t help but be touched by what you’ve done.”
Chelo’s Bar and Grill, Big Fish, and Dunkin’ Donuts will provide food and refreshments for volunteers. Anyone interested in participating in the event can contact the RIAR at 785-3650.
For more information please log onto www.phippsrealty.com
Monday, April 02, 2007
Spring Real Estate Forcast
Finally the winter is waning and spring is waxing! The real estate market wanes and waxes like the moon and ebbs and flows like the tide. 2007 will be no exception. This past winter has been particularly challenging as it started very gentle and February was brutally cold. The local real estate market has calmed down over the winter months, but the real indicators of the market are about the present themselves. Among the elements that impact the market are perception, the amount of inventory, the cost of mortgage money, the availability of money, the reasonableness of buyers and sellers, the number of foreclosures, and fundamental demographics. One must remember that real estate is local, and probably more local than any other financial indicator, because real estate is fixed. It is located where it is! Unlike buyer and sellers and their money, the real estate stays where it is. Sometimes we forget the most obvious things, simply because they are obvious; location, location, location.
Perception: How buyers, sellers, homeowners, renters, economists, reporters, and financial advisers perceive real estate impacts its value directly. Over the past year, and since August of 2005 in Rhode Island, real estate has lost some of its shine. Part of the reason is the fundamental of real estate. Price/Value ebb and flow. The value has been ebbing despite the fact that people need shelter. It is a basic human need. While value may be adjusting downward, the correction is modest. Moreover, as prices come down, more people can purchase homes. In short, it minimizes the over all change.
Amount of Inventory: The number of houses is lower right now than the end of last year, but we expect more houses to come on the market creating an oversupply. This will put additional pressure on prices.
Cost of Money: Thirty year fixed rate mortgages are still in the 6.2% range. This is very competitive, particularly for those of us who worked with 18-20% thirty year fixed rate mortgage back in the early 1980s. Projections for this year suggest that cost money will remain very competitive.
Availability of Money: Less money will be available because of the sub-prime mortgage crisis. Over the past ten years, people with poor credit and limited cash were able to obtain mortgage money based on non-verified information, i.e. income, cash on hand, etc. Many of these mortgages were adjustable rate mortgages. When the interest rate went up, the buyers could no longer afford to keep the property. This readily available supply of ‘easy’ money is gone. The net impact will be less money for first time and marginal buyers. People with good credit, will however, be able to find mortgage money to be there when they need it.
Reasonableness of Buyers and Sellers: The buyers have had a very good handle on the change in the market over the past year. The sellers have, however, been living in nostalgia. The values have corrected and many sellers believe that we are still in 2004. The difference in understanding of the market had lead to a communication gap. The sellers and buyers were speaking different languages. Average sales price went from $282,900 in 2005 to $282,500 in 2006, but the number of sales dropped from 10,000 single family homes to 8600. Many sellers have been unwilling to take less to sell their homes. Spring 2007 has suggested that sellers have the message and are speaking the language of the market. Fair value-fair price equal a sale.
The Number of Foreclosures: Unfortunately, we will have a record number of foreclosures this year. On one hand it provides buyers with a great opportunity to buy at less than fair market value. On the other, it will lower the average sales price after the post foreclosed property is sold. Additionally, it will cause some buyers to pause in anticipation that the market will correct further. For market analysis purposes, these transactions need to be put in appropriate context. They are not arms-length, fair market value transactions. The number of foreclosures does not speak to the human cost to those families who loose their homes.
Fundamental Demographics: All real estate is local. One must look at the demographics. Our population is stable and family size continues to shrink which increases the demand for housing. The number of new housing units in our area, while still increasing, is increasing at a much slower rate. Our value is also significantly less than metro Boston, fifty miles away. The creation of new jobs in Rhode Island has been encouraging as well. The aging of the population will also influence the health of our market.
In conclusion, the real estate market is leaping into spring. We will have some storms, but overall the real estate climate is going to be livable.
Ron Phipps, CRS, ePro, GRI
For more information please log onto www.phippsrealty.com
Perception: How buyers, sellers, homeowners, renters, economists, reporters, and financial advisers perceive real estate impacts its value directly. Over the past year, and since August of 2005 in Rhode Island, real estate has lost some of its shine. Part of the reason is the fundamental of real estate. Price/Value ebb and flow. The value has been ebbing despite the fact that people need shelter. It is a basic human need. While value may be adjusting downward, the correction is modest. Moreover, as prices come down, more people can purchase homes. In short, it minimizes the over all change.
Amount of Inventory: The number of houses is lower right now than the end of last year, but we expect more houses to come on the market creating an oversupply. This will put additional pressure on prices.
Cost of Money: Thirty year fixed rate mortgages are still in the 6.2% range. This is very competitive, particularly for those of us who worked with 18-20% thirty year fixed rate mortgage back in the early 1980s. Projections for this year suggest that cost money will remain very competitive.
Availability of Money: Less money will be available because of the sub-prime mortgage crisis. Over the past ten years, people with poor credit and limited cash were able to obtain mortgage money based on non-verified information, i.e. income, cash on hand, etc. Many of these mortgages were adjustable rate mortgages. When the interest rate went up, the buyers could no longer afford to keep the property. This readily available supply of ‘easy’ money is gone. The net impact will be less money for first time and marginal buyers. People with good credit, will however, be able to find mortgage money to be there when they need it.
Reasonableness of Buyers and Sellers: The buyers have had a very good handle on the change in the market over the past year. The sellers have, however, been living in nostalgia. The values have corrected and many sellers believe that we are still in 2004. The difference in understanding of the market had lead to a communication gap. The sellers and buyers were speaking different languages. Average sales price went from $282,900 in 2005 to $282,500 in 2006, but the number of sales dropped from 10,000 single family homes to 8600. Many sellers have been unwilling to take less to sell their homes. Spring 2007 has suggested that sellers have the message and are speaking the language of the market. Fair value-fair price equal a sale.
The Number of Foreclosures: Unfortunately, we will have a record number of foreclosures this year. On one hand it provides buyers with a great opportunity to buy at less than fair market value. On the other, it will lower the average sales price after the post foreclosed property is sold. Additionally, it will cause some buyers to pause in anticipation that the market will correct further. For market analysis purposes, these transactions need to be put in appropriate context. They are not arms-length, fair market value transactions. The number of foreclosures does not speak to the human cost to those families who loose their homes.
Fundamental Demographics: All real estate is local. One must look at the demographics. Our population is stable and family size continues to shrink which increases the demand for housing. The number of new housing units in our area, while still increasing, is increasing at a much slower rate. Our value is also significantly less than metro Boston, fifty miles away. The creation of new jobs in Rhode Island has been encouraging as well. The aging of the population will also influence the health of our market.
In conclusion, the real estate market is leaping into spring. We will have some storms, but overall the real estate climate is going to be livable.
Ron Phipps, CRS, ePro, GRI
For more information please log onto www.phippsrealty.com
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