Monday, September 21, 2009

UCLA Anderson Forecast Says The Recession Is OVER!

The end of a recession is the best time to start or grow a business. Are you ready? According to the UCLA Anderson Forecast, a leading economic forecaster, the recession is over. Don't miss this boat!

The UCLA Anderson Forecast: "In a report titled, “The Long Goodbye,” UCLA Anderson Forecast Senior Economist David Shulman states, “ … after four quarters of decline, economic growth is resuming. We forecast that real GDP will increase at 2.1% in the current quarter and 2.3% in the fourth quarter. For all of 2010, we forecast quarterly growth to average 2% with noticeable improvement at the end of the year.”"

Check out the full article on the UCLA Anderson Forecast website.

Wednesday, September 16, 2009

The positive and the negative

According to Hanley Wood’s Key Indicator Alert from last week, the economy is still improving slightly. The stock market has been heading in the right direction; mortgage rates are declining; new and existing home sales are increasing. The main drags on the economy now are jobs and lending.

Employers are still shedding jobs but at a slower pace than previously. That makes sense as businesses are trying to maximize their smaller profits or, in some cases, minimize their losses.

Lending is still a big problem for our industry. Most homeowners don’t have the financial wherewithal to pay for large remodeling projects out of pocket. Therefore, larger projects are put on hold. There is still activity, however, at the maintenance level.

Oh, and a big plus was the surprisingly large increase in the August Consumer Sentiment. Are we ready to move forward? I’m thinking consumers are not happy with the prospect of another bleak holiday season.

Tuesday, September 15, 2009

Are you using the Energy Efficiency Tax Credits to your advantage?

By now you’ve probably heard about the Energy Efficiency Tax Credits. Those are the credits that consumers can take for buying and installing energy efficient products in their homes. The products include replacement windows and doors, insulation, roofing, HVAC, water heaters and bio-mass stoves. (In addition, there are some geothermal and solar products that qualify for credits, too, but we will limit the discussion to retro-fit products).

If your remodeling or home improvement company specializes in any of these types of products, you are missing a big boat if you are not offering products that qualify for the credits. Just about all manufacturers in every one of these product lines are now offering products that qualify.

To learn more about the tax credits and what products will qualify, check out the government’s Energy Star website.

Remodeling magazine has a great section about the entire stimulus package. Check it out at http://www.remodeling.hw.net/green/stimulus-tax-credits/ for a comprehensive guide about the credits.

And you can check out our remodeling company’s blog, Manassas Remodeling Contractor, to see how we have been promoting the credits to our own customers.

But don’t wait for your customers to ask you about the tax credits. Bring it up in your sales presentation. I am still amazed by the number of consumers who are not aware of the credits or don’t know what products qualify.

Regards,
Annette

Thursday, September 10, 2009

Networking Can Work

I found a great article for you on networking in Replacement Contractor Online. It touches on business networking, such as BNI and your local Chamber of Commerce, and how to do it.

The article also goes into networking with your current and past customers as well as your suppliers, contractors and others. There are some great examples of companies using these techniques.

In our own remodeling business, we network on a regular basis with our past customers as well as homeowners around a jobsite. We find this to be a great source of leads. I've also networked in the past with a local leads group as well as our Chamber of Commerce. Again, excellent lead sources if done correctly. A waste of time, if not.

Check out the article at: http://www.replacementcontractoronline.com/industry-news.asp?sectionID=316&articleID=1061829&artnum=1



Enjoy,

Annette

Put Time On Your Side

Do you have some potential clients who are on the fence about proceeding with a remodeling project? Are you looking for ways to create some urgency to get people to commit now rather than later?

Use time. Time (or the lack thereof) can be a powerful motivator to get your clients to commit now.

By explaining the amount of time each step in the remodeling process can take, your potential clients can see the need to move forward if they want to complete a project by a specific date. To make your presentation even more powerful, use a calendar or timeline and work backward from their date.

Sunday, September 6, 2009

Finally, Some Good News for Remodelers

There’s a lot of positive news in Qualified Remodeler’s September 4th Weekly Market Overview. First, according to data from ServiceMagic.com, remodeling (versus repair and maintenance) requests are on the rise, especially among those in homes valued between $200,000 and $300,000. And, equally interesting, is that baby boomers (those in the 45 to 64 age group) are the ones making those requests. Interest is rising in kitchen and bath remodeling. And consumers are intent on increasing the entertainment value of their homes with the purpose of staying home more. (Remember our discussion of cocooning several months ago?)

And the biggie: According to Qualified Remodeler, “Homeowners plan to tackle small projects, keeping with the Q1 trend, with the intent to head into large-scale remodels in early 2010.”

Be cautiously optimistic, fellow remodeling professionals. Plan ahead and be ready. There is still a major issue in remodeling. That is how homeowners plan to finance their improvements. With home values down, the spigot has been turned off on their home equity lines.

Personally, we are already seeing more calls in our own remodeling business. Projects are still smaller but more and more, people are thinking about larger projects.

Saturday, September 5, 2009

6 Myths About Green Consumers

I recently ran across this article entitled, 6 Myths of Green Consumers. It states:
"A new national study of green consumers contradicts several long-held stereotypes about them: The environment is not their top concern, their kids are not influencing them to be green, and while many know what they should do to save the planet, they often don’t do it."

It's based on a study of consumers who, at least occasionally, buy green products. It's an interesting article and I thought you might like to read it.

http://www.ecohomemagazine.com/news/2009/08/6-myths-of-green-consumers.aspx

Friday, September 4, 2009

Cell Phone Recycling

While preparing my remodeling office for a move, I stumbled upon our stash of used, out-of-date cell phones. We kept these phones over the years so that we could use parts in our new models. How many times did that happen over the past 20 years of cell phone use? About 2! How many cell phones had we accumulated? 27!!!

Purely by coincidence, I stumbled upon a great use for these phones that benefits our troops overseas. The program is called Cell Phones for Soldiers. Since 2004, teens Brittany & Robbie Bergquist and Cell Phones for Soldiers have raised millions of dollars to help our troops call home. Donated cell phones are recycled and the proceeds are used to purchase prepaid calling cards for American troops.

I hope those 27 phones provide some great talk time for our military families.

Thursday, September 3, 2009

Looking for Financing for your Remodeling Business?

I ran across this article today on Remodeling on-line and it gives alot of information about where to go for SBA loans. Check it out:

http://www.remodeling.hw.net/green-policy/lifelines-of-credit.aspx#

Twitter Through The Remodeling Show

Can't make it to The Remodeling Show but still want to stay up-to-date? Follow The Remodeling Show on twitter.

http://twitter.com/remodeling_show

Twitter updates begin September 9th. The Remodeling Show starts October 27, 2009 at the Indiana Convention Center in Indianapolis, Indiana.

You can follow me on twitter, too, at:

@annettergreco

Regards,
Annette