Bathroom Remodeling in Columbus Georgia

Monday, November 5, 2018

Remodeling declining in 2019?

With the Latest news from Business Insider the predictions for 2019 Home Renovations are not as high as we had all hoped. Columbus Ga Luxury Kitchen and Bath Renovations will still go on as planned with a $350 billion spending in the third quarter prediction, climbing by $20 billion year after year i think we will be just fine. Looks like that ONE register that works at Lowes and Home Depot will have to hang in there a while!

Here's the complete article from Business Insider.

"It's looking like the remodeling boom is starting to fade in the United States — and that slowdown may have implications for home-improvement retailers like Home Depot and Lowe's.

Over the last several years, home-improvement sales have soared. The good times even seeped into US pop culture, as remodeling-oriented reality shows like "Fixer Upper" have become TVjuggernauts.

But home-improvement retailers didn't have a strong housing market to thank for any of that. In fact, MarketWatch reported that "the housing market's funk" had previously boosted the remodeling business. There were too few houses on the market to meet demand from buyers, thanks to the slow recovery of the house-building industry, a reluctance among homeowners to sell houses with low mortgages, and the rise of renting, among other factors.

Homeowners who couldn't find a new house to purchase on the market would instead invest in remodeling their current homes.

But now, according to MarketWatch, "inertia" in the housing market is starting to have the opposite effect. An extended period of low for-sale inventories means fewer people are going out and hunting for new homes. House hunters are a major driver of home-improvement spending.

Harvard University's Joint Center for Housing Studies released areport estimating that the explosion of remodeling activity would trickle off a bit in 2019. It's not that remodeling expenditures are expected to decline. The same study predicted that Americans would spend $353.1 billion on home improvements and repairs in the third quarter of 2019 — an increase of $22 billion year over year.

But the Joint Center for Housing Studies has predicted that the percentage of increases in spending will decrease between quarters starting in the first quarter of 2019. That's thanks to a stagnant housing market and rising interest rates, according to MarketWatch.

Read more: Home Depot, Lowe's, Tesla, and Wegmans top the list of most-liked companies — employees explain why they have such a cult following

Either way, Wall Street has taken notice. Barron's reported that Credit Suisse analyst Seth Sigman recently downgraded Home Depot and Lowe's to neutral, citing his belief that "moderating home prices" will leave "less room for upside for the stocks."

Home Depot declined to comment because the company's earnings call is coming up next week. A Lowe's representative told Business Insider that it's still confident about rising residential investment and home prices, saying that those factors "are the key drivers of home improvement growth versus new housing starts."

The Lowe's spokesperson added that the "aging housing stock" in the US was another sign that Americans are living in their houses longer and viewing those houses as investments.

"When you combine that strong investment mentality with disposable personal income growth and strong consumer credit, consumers tend to spend more on home improvement projects," the spokesperson told Business Insider. "As they have increased financial ability to invest in those homes, it certainly drives demand for home improvement, both in terms of discretionary remodels and renovations and necessary repair and maintenance projects."

Meanwhile, Sigman also told Barron's that it wasn't all bad news for home-improvement retailers. He said Lowe's could benefit from "plenty of low hanging opportunities for improvement over the next year" and called Home Depot one of the "best positioned retailers." "

Credit:www.businessinsider.com/home-depot-lowes-housing-market-2018-11

Columbus Ga Kitchen and Bath remodeling at Kennedy Kitchens and Baths is just a phone call away at 706.888.8832 or you can email us at jeffkennedy78@gmail.com.

Remember " Good work ain't cheap and cheap work ain't good!"

www.kennedykitchensandbaths.com

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Thursday, October 18, 2018

I’m ready to Renovate! But Now What?

www.patreon.com/1724customs

Trouble finding a contractor? Join the club

This just Published By MARNI JAMESON |

PUBLISHED: October 17, 2018 at 8:05 am | UPDATED: October 17, 2018 at 8:11 am

“We are only taking work for new home construction or complete renovations,” the woman from the contractor’s office tells me when I ask for a bid on a patio renovation project.

“That’s it?” I ask. What my job isn’t good enough? I think.

I call another contractor: “The mailbox is full and can’t take new messages.” Sigh.

I call Home Advisors, a national contractor referral service and got disconnected three times.

After our house got professionally power cleaned, DC and I agreed that the covered patio’s overhang and balcony above could use an update.I asked the house washer if he knew a good contractor. He said he’d check around.

A couple days later he sent a text. “I’ve asked three guys. No one is available.” And so my futile phone calling began. I also asked the well-connected women in my book club. “Good luck finding anyone,” was the universal answer.

I called the National Association of Home Builders to see if I’m the only one who can’t find a contractor.

I’m not alone. “We’re in the midst of a national labor shortage for home remodelers, and I don’t see it easing up anytime soon,” said Paul Emrath, an economist and vice president for survey and housing policy research for the association.

A 2017 NAHB remodeling survey found that 91 percent of remodelers reported shortages in available carpenters; 70 percent reported shortages of bricklayers, masons, dry wallers and concrete workers; and half reported shortages in almost every other building trade.

“The shortage has its roots in the 2007-2008 market downturn,” Emrath explained. “That scared workers away, and they haven’t been coming back, certainly not in proportion to the increase in residential construction and remodeling.”

In the first eight months of 2018, Americans spent 60 percent more on residential construction and improvement than they did in the first eight months of 2008, according to NAHB data, and 160 percent more than they did during the same period in 2000.

“A strong economy, rising house-price appreciation, and low unemployment are all driving Americans to put money into their homes again,” Emrath said.

“The smaller the job, the worse it is,” he said.

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Be one with the shortage. Accept that you’re at the mercy of a builders’ market, and be prepared to pay more and for the work to take longer.

Know your place. Subcontractors, including carpenters, plumbers and electricians, are naturally more attracted to work for general contractors or companies they know they can rely on for repeat business than to a homeowner’s job. That means homeowners with smaller, one-time projects take a back seat.
Be more attractive. Consumers can make themselves more attractive to a builder by having all the financing lined up, and by being easy to work with, said Emrath.
Be patient. If your job is small, which Emrath defines as between $3,000 and $20,000, it will take longer to find a contractor and longer to get the work completed.
Consult a national association. Both NAHB and the National Association for the Remodeling Industry have pro-finder tools on their websites that can connect you with professionals in your area. You will still have to check them out.

Do a deep background check. Because a high demand for workers in a tight labor market attracts flakes, consumers need to be more vigilant in their vetting, said Elizabeth McKenna, NARI spokeswoman. Make sure the worker you’re considering is a licensed contractor, then do some online research. Check with the Better Business Bureau for complaints filed against the worker or company. Check the county court’s website for any suits filed against the contractor. Ask for proof of insurance. Call references.
Don’t settle. Though I’m tempted to hire anyone who knows one end of a hammer from the other, I will hold out for a licensed contractor with proven references. If you hire an unlicensed worker, you have few remedies if the job goes awry or the worker goes AWOL.

Syndicated columnist Marni Jameson is the author of four home and lifestyle books, including ‘Downsizing the Family Home – What to Save, What to Let Go”. She can be reached at www.marnijameson.com.

www.mercurynews.com/2018/10/17/trouble-finding-a-contractor-join-the-club/

If you found this article helpful, please leave a comment. If you are in need of a qualified

Luxury Renovation Professional contact

Kennedy Kitchens and Baths. The King of Renovations in Columbus Ga.

jeffkennedy78@gmail.com

706.888.8832

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