Professional Remodeler | Housing Zone

Existing home sales up; biggest gain in prices since 2006

jsweet — Tue, 22 May 2012 15:45:45 +0000

Sales of existing homes were up 10 percent year-over-year in April and up 3.4 percent from March, according to the National Association of Realtors.

Existing home sales closed at a seasonally adjusted annual rate of 4.62 million in April, up from 4.2 million in April 2011 and 4.47 million in March.

Remodeling activity up 10 percent from 2011 in March

jsweet — Tue, 15 May 2012 14:26:17 +0000

Permits for residential remodeling projects increased 10 percent in March from 2011, but slipped slightly from an unseasonably warm February, according to the latest BuildFax Remodeling Index.

"Overall, March 2012 had lower remodeling activity than February, which saw significantly greater-than-expected activity, likely due to the unseasonably warm winter weather," said Joe Emison, Vice President of Research and Development at BuildFax.

NAHB: Kitchens, bathrooms remain top remodeling jobs in 2011

jzagoudis — Tue, 08 May 2012 16:38:27 +0000

A new survey released by NAHB shows common remodeling projects have increased, compared to a similar survey from 2010. The survey, released today in conjunction with National Home Remodeling Month, describes the changes the remodeling market has undergone in recent years.

Mortgage rates start May at all-time lows

jzagoudis — Fri, 04 May 2012 21:57:22 +0000

Realty Times reports that fixed mortgage rates hit all-time lows across the board this week, as indicated by Freddie Mac’s Primary Mortgage Market Survey. For the week of May 3, the rate for a 30-year fixed-rate mortgage averaged 3.84 percent, a .87 percent decrease from 2011. Meanwhile, 15-year FRM rates dropped almost as much, declining .82 percent year-over-year to settle at 3.07 percent.

William S. “Bill” Marvin named to Northwest Minnesota's IDEA Hall of Fame

jzagoudis — Wed, 02 May 2012 21:06:01 +0000

The woods, lakes and fields of Northwest Minnesota have nurtured an impressive array of business visionaries. Among the giants was the late William S. “Bill” Marvin, who built Marvin Windows and Doors from a small lumberyard into one of the world’s premier window and door manufacturers.

NARI names 25 winners in Contractor of the Year Awards

jzagoudis — Tue, 01 May 2012 22:10:52 +0000

During its 2012 Evening of Excellence, the National Association of the Remodeling Industry (NARI) named its winners in the Contractor of the Year Awards, which included 25 projects.

Contractors from seven regions nationwide vie for the awards on an annual basis. All projects submitted for judging were an improvement or an addition to an existing structure, with the exception of one category: “Residential Exterior Specialty.” Otherwise, new construction projects were not eligible.

NARI elects new officers for 2012-2013

jzagoudis — Fri, 27 Apr 2012 21:37:51 +0000

During the spring 2012 House of Delegates meeting, the National Association of the Remodeling Industry (NARI) named immediate Past President Michael Hydeck, MCR, CKBR, of Hydeck Design Build in Telford, Pa., as its chairman of the board; Dean Herriges, MCR, CKBR of Urban Herriges & Sons Inc. in Mukwonago, Wis., was also elevated to the office of president.

Remodeling Market Index remains relatively flat in first quarter

jzagoudis — Thu, 26 Apr 2012 15:02:54 +0000

Remodeling activity remained relatively flat in the first quarter of 2012, as the Remodeling Market Index (RMI) compiled by the National Association of Home Builders decreased one point to 47 from the upwardly revised 48 in the previous quarter.

The overall RMI combines ratings of current remodeling activity with indicators of future activity. An RMI below 50 indicates that more remodelers report market activity is lower (compared to the prior quarter) than report it is higher.

LIRA projects 5.9 percent remodeling increase through 2012

jzagoudis — Thu, 19 Apr 2012 16:16:42 +0000

After two years of bouncing around a bottom, remodeling activity is expected to pick up later this year, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. Stronger pending home sales and continuing low interest rates are contributing to the rise. The LIRA projects annual spending will see healthy growth in 2012, ending the year up 5.9 percent.

Union poster rule delayed

jsweet — Wed, 18 Apr 2012 18:59:38 +0000

A rule that would have required businesses with more than $500,000 in gross business volume to post a notice notifying employees of their collective bargaining rights has been delayed by a judge while court challenges to the rule proceed.

The rule, issued by the National Labor Relations Board, was scheduled to take effect April 30.

The U.S. Court of Appeals in Washington Tuesday granted a request by the National Association of Manufacturers and other business groups. The NLRB says it intends to appeal the ruling.

CertainTeed announces $75,000 Exterior Home Makeover Video Facebook Contest

jzagoudis — Tue, 17 Apr 2012 21:26:26 +0000

CertainTeed Corp. is celebrating the upcoming summer season by kicking off an Exterior Living Spaces Home Makeover Video Contest. Through the Facebook contest, one lucky winner will receive $75,000 worth of exterior building products, including installation. Featured products include CertainTeed’s expansive selection of vinyl and fiber cement siding, roofing, housewrap, decking, railing, fence and trim. CertainTeed will also include landscaping and deck furniture.

Company Reference:

CertainTeed Corp.-Siding Products Group

Professional Remodeler, CEDIA, NARI, NKBA Partner at KBIS Collaboration Station

jsweet — Tue, 17 Apr 2012 12:09:25 +0000

Join the editors of Professional Remodeler and members of CEDIA, NARI and NKBA at KBIS April 24-26 in Chicago as we discuss the ways collaboration between trades can lead to more productive projects.

Collaboration Station, located in booth #1249, will host resources throughout the show, as well as seven panel discussions.

The full schedule:

Remodeling surges in February; up 23 percent year-over-year

jsweet — Mon, 16 Apr 2012 12:49:58 +0000

Remodeling activity was up across the country in February as homeowners ramped up their home improvement spending, according to the latest Remodeling Index from BuildFax.

The BuildFax Remodeling Index (BFRI) is based on construction permits for residential remodeling projects filed with local building departments across the country.

Remodeling permits were at an annual rate of 2,894,000 in February, a 23 percent increase from the February 2011 rate of 2,362,000 and 3 percent above January's revised estimate of 2,811,000.

Two remodelers fined by EPA for lead paint violations

jsweet — Mon, 09 Apr 2012 14:00:09 +0000

Three companies -- including two remodeling firms -- have been cited by the EPA for violation of the Lead Renovation, Repair and Painting Rule.

Investment, vacation home sales at highest level since 2005

jsweet — Sun, 01 Apr 2012 14:54:49 +0000

Sales of investment and vacation homes jumped in 2011, with the combined market share rising to the highest level since 2005, according to the National Association of Realtors.

NAR’s 2012 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2011, shows investment-home sales surged an extraordinary 64.5 percent to 1.23 million last year from 749,000 in 2010. Vacation-home sales rose 7.0 percent to 502,000 in 2011 from 469,000 in 2010. Owner-occupied purchases fell 15.5 percent to 2.78 million.

20 Top Counties for Remodeling Spending in the U.S.

jsweet — Wed, 28 Mar 2012 16:34:41 +0000

NAHB has identified the top counties for remodeling spending across the country, with Los Angeles County, California leading the way.

The NAHB model uses data from the American Housing Survey — which is funded by the U.S. Department of Housing and Urban Development and conducted by the U.S. Census Bureau — to estimate local remodeling based on home and homeowner characteristics. It is then applied to the information on every county's homes and homeowners that the Census Bureau released late last year from its American Community Survey.

NAHB identifies top counties for residential remodeling

jzagoudis — Thu, 22 Mar 2012 21:27:29 +0000

Los Angeles County, Calif., leads the nation in total county remodeling expenditures per year at $8.4 billion, according to the National Association of Home Builders (NAHB). Meanwhile, regarding remodeling dollars spent per household, Nantucket County, Mass., ranks highest with a yearly average of $8,520.

NKBA appoints Bill Darcy as new CEO

jzagoudis — Tue, 20 Mar 2012 18:45:39 +0000

The National Kitchen & Bath Association (NKBA) today announced the promotion of Bill Darcy to CEO. In his new role, he will continue the leadership he began in April 2011, as executive vice president. The organization has also officially announced an increase in the membership, bringing the total number of NKBA members from nearly 40,000 to more than 50,000.

BuildFax Remodeling Index: Activity climbs 13 percent in January

jzagoudis — Mon, 19 Mar 2012 19:11:38 +0000

Residential remodels authorized by building permits in the United States in January were at a seasonally adjusted annual rate of 2,998,000, according to the latest release of the BuildFax Remodeling Index (BFRI). This is 13 percent above the revised December rate of 2,653,000 and is 11 percent above the January 2011 estimate of 2,705,000.

Marvin Windows and Doors kicks off fourth annual myMarvin Architect’s Challenge

jzagoudis — Wed, 14 Mar 2012 20:25:03 +0000

Marvin Windows and Doors announces it is now accepting entries for its fourth annual myMarvin Architect’s Challenge.

The Architect’s Challenge is fast becoming one of the premier showcases in the architectural world. Winning projects in previous years have displayed the work of designers in styles both traditional and contemporary, in both the residential and commercial arenas.

Company Reference:

Marvin Windows and Doors

CertainTeed unveils PitchPerfect selling system for iPad

jzagoudis — Wed, 14 Mar 2012 14:50:44 +0000

CertainTeed is providing its siding, fence, railing and decking contractors with its PitchPerfect In-Home Selling System that is designed for use on an iPad. The PitchPerfect system includes fully customizable sales presentations, step-by-step instructions and downloadable applications and accessories to seamlessly integrate the selling process—from initial homeowner consultation to finished project.

NARI supports amendments to EPA lead paint rule

jzagoudis — Fri, 09 Mar 2012 23:37:13 +0000

The National Association of the Remodeling Industry (NARI) voiced its support for Sen. James Inhofe, ranking member on the Senate Environment and Public Works Committee, for introducing S.2148, the Lead Exposure Reduction Amendments Act of 2012. The goal of S.2148 is to amend the EPA’s Lead Renovation, Repair & Painting (LRRP) Rule by restoring the opt-out provision.

Company Reference:

1.800.COLUMNS

5 keys to marketing remodeling design awards

jzagoudis — Thu, 08 Mar 2012 21:42:44 +0000

In November 2011, Palatine, Ill.-based remodeler Patrick A. Finn and his company, Patrick A. Finn Ltd., earned seven Key Awards from his local HBA.

It was a nice result for the first-time entrant, but the question quickly became how to make the most of those awards.

Company Reference:

1.800.COLUMNS

President Obama offers lower mortgage fees in latest housing plan

jsweet — Wed, 07 Mar 2012 14:27:54 +0000

Homeowners that financed their purchases through the Federal Housing Administration will be able to more easily refinance their mortgages with lower rates under a new plan announced by President Obama.

Starting in June, the FHA will lower its upfront mortgage insurance costs from 1 percent of the loan balance to 0.01 percent if the refinance through the new streamlined program. High insurance premiums have kept many homeowners from taking advantage of the lower rates. Only homeowners that purchased before June 1, 2009 are eligible.

Senate Republicans introduce bill to restore lead paint opt-out

jsweet — Fri, 02 Mar 2012 14:42:25 +0000

Oklahoma Sen. James Inhofe introduced a bill yesterday that would take some of the burden off of remodelers and other contractors working in pre-1978 homes.