More help for the remodeling industry could be on the way in the form of a tax credit that would stimulate the purchase of kitchen cabinets and other remodeling and home furnishing improvements.
Congressmen Henry Johnson (D-GA) and Nathan Deal (R-GA) have sponsored the legislation called the Home Improvement Revitalize the Economy (HIRE) Act of 2009. The Act would give individual consumers and joint filers respectively a $2,000 or $4,000 tax credit for purchasing items that meet recognized environmental standards (LEED, NAHB, Green Globes, SFI/FSC and ESP). Retailers, contractors and building product resellers can receive up to $10,000 for covered purchases.
“Not only would this help stimulate the manufacturing market for home furnishings and buildings products, it would save retail jobs, generate billions in revenue and increase home values at the time when we really need a boost,” according to Johnson. “By creating this tax deduction, we will offer incentives for consumers who would otherwise forego spending in 2009 and 2010. We will encourage environmentally sound practices by doubling the benefits for the purchase of building products and home furnishings that meet nationally recognized environmental standards.”
Check out the recent article in Professional Remodeling online or the KCMA website to learn more.
What can you do to support this bill? Contact your representative and ask that he or she co-sponsor the bill.
Wednesday, July 15, 2009
Wednesday, July 8, 2009
Choose the right words
Why are some people “glass half empty” and some people “glass half full” kind of folks? Why do some see only the negative in a situation while others see opportunity?
The fact is we choose the words we use to describe our situation. So if we describe a situation as a problem or a disaster that is exactly what it is.
Describe a situation as an opportunity and that is what it is.
The language we use reflects a certain reality but it also deflects a competing reality. So the person who chooses negative words to see a situation as a disaster is unable to see it any other way. There are no opportunities in that situation.
And vice versa.
Start looking at your situation as an opportunity. It may not be the best situation you could want but look for the positives. Maybe you've cut your spending to bare bones and found yourself more appreciative of what you have. Or you've been able to devise some new low cost marketing strategies to reach your target market. Take action to move yourself toward those new opportunities.
The fact is we choose the words we use to describe our situation. So if we describe a situation as a problem or a disaster that is exactly what it is.
Describe a situation as an opportunity and that is what it is.
The language we use reflects a certain reality but it also deflects a competing reality. So the person who chooses negative words to see a situation as a disaster is unable to see it any other way. There are no opportunities in that situation.
And vice versa.
Start looking at your situation as an opportunity. It may not be the best situation you could want but look for the positives. Maybe you've cut your spending to bare bones and found yourself more appreciative of what you have. Or you've been able to devise some new low cost marketing strategies to reach your target market. Take action to move yourself toward those new opportunities.
This Week’s Key Indicator Report
This week’s Key Indicator Alert from Hanley Wood Market Intelligence is not a particularly positive report. Other than mentions of the slightly positive housing news from the last report, there is also mention of the higher unemployment rate (which I’m sure you have all heard about on the news). The positive spin is that we are losing fewer jobs. But the unemployment rate is still the highest it’s been since 1983. When I graduated from college in 1981, I remember looking in the Washington Post for a job in my field and finding one listing! What did I do? Stayed in the job I had during college until the recession was over.
The other news is that national average mortgage interest rates have declined this week. That may get more people into the housing market as fear of missing out on low rates could take hold. When rates were rising over the last couple of weeks, there were fewer refinance applications and fewer home purchases.
Be award that earnings season starts soon and the markets could show some volatility in the upcoming weeks.
Here's what you can do: Stay positive. And take positive action. I know it’s hard with all of the negativity surrounding us day in and day out. Take the time now to build your business skills. And keep moving forward.
The other news is that national average mortgage interest rates have declined this week. That may get more people into the housing market as fear of missing out on low rates could take hold. When rates were rising over the last couple of weeks, there were fewer refinance applications and fewer home purchases.
Be award that earnings season starts soon and the markets could show some volatility in the upcoming weeks.
Here's what you can do: Stay positive. And take positive action. I know it’s hard with all of the negativity surrounding us day in and day out. Take the time now to build your business skills. And keep moving forward.
Tuesday, June 30, 2009
Social Bookmarking Made Easy
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If you've ever signed up for Technorati, a social bookmarking site, you'll know what these numbers are all about. If you haven't and you're interested, these numbers are the code Technorati uses to verify that I'm claiming my own blog. If you couldn't care less, no problem.
You'll notice that I've place a widget at the end of each post. It will allow readers to print or e-mail a post and to submit the post to any favorite social bookmarking site. Hope it comes in handy.
To Your Success,
Annette
On The Level Consulting
If you've ever signed up for Technorati, a social bookmarking site, you'll know what these numbers are all about. If you haven't and you're interested, these numbers are the code Technorati uses to verify that I'm claiming my own blog. If you couldn't care less, no problem.
You'll notice that I've place a widget at the end of each post. It will allow readers to print or e-mail a post and to submit the post to any favorite social bookmarking site. Hope it comes in handy.
To Your Success,
Annette
On The Level Consulting
Friday, June 26, 2009
Positive economic news continues for remodeling industry
In the latest Key Indicator Alert from Hanley Wood Market Intelligence, the slightly positive economic news continues for the remodeling and home improvement industries.
Both new and existing home prices continue to rise slightly. Existing home sales rose but new home sales fell slightly. Mortgage rates are continuing to creep up, too. Those factors are making possible buyers re-think their wait and see strategies. It may be time to jump into the market.
And inventories of both new and existing homes are continuing to go down. That means we are working through the foreclosed homes (although slowly) and there are less homes available.
So what happens when there is less supply and more demand? Prices go up. Everyone wants what they can’t have. And the housing industry heats up again.
Check out more business advice for your remodeling or construction business.
Both new and existing home prices continue to rise slightly. Existing home sales rose but new home sales fell slightly. Mortgage rates are continuing to creep up, too. Those factors are making possible buyers re-think their wait and see strategies. It may be time to jump into the market.
And inventories of both new and existing homes are continuing to go down. That means we are working through the foreclosed homes (although slowly) and there are less homes available.
So what happens when there is less supply and more demand? Prices go up. Everyone wants what they can’t have. And the housing industry heats up again.
Check out more business advice for your remodeling or construction business.
Monday, June 22, 2009
Here’s a no cost way to get work for your remodeling business
Today, I had an appointment for a bathroom estimate in the next town over from my remodeling company’s office. It’s about 15 minutes away, tops.
A past customer lives right around the corner from my appointment. This past customer had called in last week with a concern about a water leak. They thought they had a crack in their foundation. Now we don’t do any type of foundation work but, since they are a great customer and I was in the area, I thought I’d stop by and give it a look. Maybe I could pinpoint the leak for them and refer them to a contractor who could help them.
Turns out, the water is leaking from a broken washing machine hose. We scheduled some handyman work and we’ll take care of it for them right away.
If I had not taken the time to stop and help them out, I would have missed out on some additional work. I know changing a washing machine hose is not a big deal. But once we are in there, many times customers find more projects for us to do.
Giving your past customers some personal attention can bring additional work to your doorstep. Just a quick stop when you’re in the area and a hello can get your past customers thinking about more remodeling work and keep you and your remodeling business at the top of their mind.
A past customer lives right around the corner from my appointment. This past customer had called in last week with a concern about a water leak. They thought they had a crack in their foundation. Now we don’t do any type of foundation work but, since they are a great customer and I was in the area, I thought I’d stop by and give it a look. Maybe I could pinpoint the leak for them and refer them to a contractor who could help them.
Turns out, the water is leaking from a broken washing machine hose. We scheduled some handyman work and we’ll take care of it for them right away.
If I had not taken the time to stop and help them out, I would have missed out on some additional work. I know changing a washing machine hose is not a big deal. But once we are in there, many times customers find more projects for us to do.
Giving your past customers some personal attention can bring additional work to your doorstep. Just a quick stop when you’re in the area and a hello can get your past customers thinking about more remodeling work and keep you and your remodeling business at the top of their mind.
Friday, June 19, 2009
Continuing the Positive Economic News
The Hanley Wood Market Intelligence Key Indicator Alert is out for the week. It’s more positive news, although slightly so. At least it’s not negative. The stock market did pull back some from its run. But that’s to be expected with investors wanting to take their profits when they can.
You may have heard in the news that housing starts jumped in May by 17%. That’s true but . . . it’s mostly multi-family housing. Single family housing rose only by 3%.
Housing continues to move ever-so-slightly up. New home starts are up and inventories are low – about 10 months. That’s the lowest the new homes inventory has been since over a year ago. And the median new home prices continue to rise ever so slightly. Of course, they are still down drastically from where they were just a year ago.
Existing home sales also rose but are down from where they were one year ago. And more slightly good news is that the median existing home prices are inching upward.
Mortgage rates continue to rise and fall. Last week they fell again.
So the good news is that things are moving in the right direction, although very slowly. That’s probably for the best right now. We don’t need any huge spikes and we certainly don’t need the economy to go into over-drive overnight. Slow and steady.
If you’d like to learn how to discover trends in your own market, check out my article How to Become Your Own Economist – Reliably Predict Your Construction or Remodeling Market.
You may have heard in the news that housing starts jumped in May by 17%. That’s true but . . . it’s mostly multi-family housing. Single family housing rose only by 3%.
Housing continues to move ever-so-slightly up. New home starts are up and inventories are low – about 10 months. That’s the lowest the new homes inventory has been since over a year ago. And the median new home prices continue to rise ever so slightly. Of course, they are still down drastically from where they were just a year ago.
Existing home sales also rose but are down from where they were one year ago. And more slightly good news is that the median existing home prices are inching upward.
Mortgage rates continue to rise and fall. Last week they fell again.
So the good news is that things are moving in the right direction, although very slowly. That’s probably for the best right now. We don’t need any huge spikes and we certainly don’t need the economy to go into over-drive overnight. Slow and steady.
If you’d like to learn how to discover trends in your own market, check out my article How to Become Your Own Economist – Reliably Predict Your Construction or Remodeling Market.
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