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NAR economist argues for low down payments

BY HBSDEALER Staff

While analyzing the March numbers for existing-home sales, Lawrence Yun of the National Association of Realtors made a case for low down payments

"Given that FHA and VA government-backed loan programs turned a modest profit over to the U.S. Treasury last year, and have never required a taxpayer bailout, we believe low-downpayment loans should continue to be available for those consumers who have demonstrated financial responsibility and are willing to stay well within their budget. Raising the downpayment requirement would unnecessarily deny credit to many worthy middle-class families and veterans,” Yun said. 

Existing home sales increased 3.7% in March to a seasonally adjusted annual rate of 5.10 million, but were down 6.1% compared to a year ago.

Yun’s press conference comments can be viewed here.

 

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DeWalt unveils tote as two-in-one storage solution

BY HBSDEALER Staff

DeWalt has announced the introduction of its 24 Inch Tote with Power Tool Case. The two-in-one storage solution allows contractors to easily store power tools, hand tools and accessories — like drill bits, nails and screws — in the power tool case, which also functions as a lid. For internal storage customization, the tool case has a removable divider that stores larger items in the bottom of the tote, helping to eliminate the need for multiple tool bags.

For trouble-free transportation around the job site, the tote is equipped with a reinforced metal handle that allows for an easy grip and enables the unit to carry a maximum load of 70 lbs.

“Our new storage solution offers contractors a means of organizing, sorting and transporting their tools from one job site to the next,” said Naama Eylon, storage commercialization manager. 

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DIY Council taps Seagrave as president

BY HBSDEALER Staff

Jayne Seagrave will take over as  president of the Worldwide DIY Council, effective May 1. Seagrave will take over for past executive secretary Donald Droesch, who is retiring from the Council. 

Seagrave is marketing director of the Vancouver Tool Corp. She holds a Ph.D in Criminology and is an active speaker and author. She has been a member of the council for more than six years and served on the board from 2007 to 2010. She is the first woman to hold the position and also the first Canadian to do so.

“We’re delighted to have persuaded Jayne to take the helm," said Bill Marsheck, vice chairman of the board. "She is well known to many of us in the home improvement industry and brings to the position not only the experience of a North American manufacturer with firsthand international sales experience, but is also well respected amongst her Canadian, United States and European peers. We expect her charismatic personality, energy and enthusiasm will inject a totally new dynamic into our organization.” 

The Worldwide DIY Council is an organization comprised primarily of American and Canadian manufacturers selling to the consumer, commercial and industrial hardware markets with an interest and commitment to grow their export business. Members range from young entrepenurial firms to well known, market-leading companies and brands. 

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