The Sweet Spot Remodeling Blog

Nov 5 2009 9:30AM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

A remodeler I talked to last week at the Remodeling Show said, "Things are slowly getting less worse."

That sentiment seems to be echoed by those remodelers that make up NAHB's Remodeling Market Index. The quarterly indicator was up slightly for the third quarter from 39.8 to 38.1 -- still well below the 50 mark that indicates an even market. (Any number below 50 indicates that more remodelers say the market is getting worse than it is improving.) The RMI hasn't topped 50 since 2005.

The "future indicators" index was up to 38.7 from 34.2

Just like the consumer confidenc...Read More

Nov 2 2009 10:18AM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

The headline says it all folks. That was the general feeling I got from talking to remodelers and exhibitors there. We all had such low expectations going in, that it ended up being just a little better.

There actually were people there, but not as many as past years. Getting around the show floor was definitely not a challenge. You could easily see everyone you wanted to talk to in just a day and that's with the Deck Expo included.

I tried to keep you updated on what was going on through Twitter, but in case you didn't follow me there, here are some of my impressions:

• Interesting (and good) trend: Exhibitors were much more focused on how they can help remodelers with things like training programs and sales support than wi

...Read More

Oct 27 2009 8:46AM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

Consumer confidence dropped this month for the second month in a row, according to The Conference Board.

The nearly six-point drop from 53.4 to 47.7 was steeper than most economists expected, but doesn't strike me as particularly surprising. All it shows is that people are paying a lot more attention to the unemployment numbers than to the recent run-up in the stock market. Clearly, the Wall Street recovery hasn't helped the rest of the country yet.

And that's bad news for remodelers, as you all know. Consumer confidence is pr...Read More

Oct 26 2009 1:37PM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

I'll be tweeting live from the Remodeling Show in Indianapolis starting Wednesday, so be sure to head over to www.twitter.com/SweetEdit, where I'll be giving you the latest updates on what I see.

Oct 22 2009 9:41AM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

There's some good news coming out of Washington today about the Home Valuation Code of Conduct, which regulates who can perform appraisals and has been blamed by NAHB, NAR and a host of others with creating artifically low home appraisals and impeding any housing recovery. (NAHB says 25 percent of builders are losing sales because of appraisals coming in below contract price.)

CNBC's Diana Olick is reporting today that the House Financial Services Committee has passed an amendment to the Consumer Financial Protection Agency Act that would put a sunset date on the code. The bill still has to be passed put of committee, then on to the f...Read More

Oct 22 2009 7:41AM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

Sens. Jay Rockefeller, D-W.V., and Chuck Grassley, R-Iowa, recently introduced a bill (S. 1792)that would make it easier for windows to qualify for the energy efficiency tax credits passed as part of the stimulus bill.

Under the proposal, windows would only have to meet Energy Star requirements, not the more stringent .30/.30 standard, to be eligible for the 30 percent/$1,500 credit.

I can't say I'm surprised by this. I've heard tons of whining from many window manufacturers and contractors that the standard isn't fair. AAMA has spoken out in favor of it, too.

Well, suck it u...Read More

Oct 21 2009 1:00PM | Permalink | Email this | Comments (1) |

By Jonathan Sweet

Remodelers may be unintentionally promising more than they can deliver when advertising energy-efficient remodels, according to a recent study from the Shelton Group.

The group will be releasing its annual Energy Pulse study at the end of the month. The Energy Pulse study examines consumer attitudes about energy and conservation. (See coverage of last year's report here.)

In her blog this week, company CEO Suzanne Shelton shares some results from the study that show there's a major disco...Read More

Oct 20 2009 12:29PM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

Sounds like the Obama administration is not sold on extending the first-time homebuyer tax credit, if today's comments by HUD Secretary Shaun Donovan are any indication.

Donovan spoke today in front of the Senate Banking Committee and had this to say about the credit, according to Reuters:

He told the Senate Banking Committee he was aware the program was popular with lawmakers, but added that, "at the same time, I am mindful that these proposals can be very expensive, especially at a time of significant budget deficits." ...

But he was much less dire in his predict...Read More

Oct 20 2009 10:10AM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

No surprise this was going to happen: the IRS is apparently investigating more than 100,000 claims of the new homebuyer tax credit for potential fraud.

I'm shocked, shocked, I say.

The Wall Street Journal has the story today:

The IRS said it was investigating 167 "criminal schemes" involving the credit, according to the subcommittee. IRS officials on Monday declined to describe the suspected schemes or provide additional details.
At ...Read More

Oct 19 2009 2:33PM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

A roundup of some of the news and views affecting the housing industry around the Web today:

• The 2009 Drop in Construction Materials Prices is Over, says Reed Construction Data Chief Economist Jim Haughey. (RCD is our sister company). Haughey says prices have been flat over the last three months and will start to rise slightly this winter, with 5 to 6 percent price increases in 2010.
• According to Reuters, economists are expecting housing starts to be up when they are announced tomorrow morning. A Reuters poll of

...Read More

Oct 16 2009 10:26AM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

In case you missed it, the Market Leaders list is now online at www.HousingZone.com/marketleaders.

The Market Leaders is our annual list of the top 5 remodelers in 20 top remodeling markets, ranked on remodling revenue. No surprise that this year's list and research shows a marked decline in revenue for almost all 100 companies on the list.

We've got a ton of coverage on the site, including podcasts, video and plenty of information that we didn't include in the print edition, so be sure to check it out.

Oct 15 2009 7:37AM | Permalink | Email this | Comments (1) |

By Jonathan Sweet

Theremodeling market will continue to slow through the end of this year before starting to turnaround in 2010, according to the latest Leading Indicator of Remodeling Activity from the Joint Center for Housing Studies of Harvard University.

The LIRA estimates and projects homeowner spending only on improvements to owner-occupied gomes as part of Harvard's Remodeling Futures Program. The LIRA does not measure spending on rental properties or maintenance to owner-occupied homes. That said, it does provide a good indicator for where the market is headed. 

The LIRA puts that activity for the year ending in the third quarter of this year at $109.7 billion -- an 8.4 percent decline from a year ago. That's worse than the 6....Read More

Oct 14 2009 2:06PM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

A majority of GuildQuality members think the housing market gotten just as about as good as it's going to get in the near future, according to the company's latest quarterly survey. 

GuildQuality's members are remodelers, builders, contractors and developers.

Some of the key findings from the latest survey:

• The confidence index for all types of members was down from the second quarter, although more members are still forecasting an improvement in the market (31 percent) than a downturn (5 percent) over

...Read More

Oct 13 2009 8:51AM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

After one year of caring about the environment, consumers are back to putting a higher value on beauty. That's according to the latest Energy Pulse report from the Shelton Group.

Every year, as part of their survey, the agency asks consumers what they would do if they were given $10,000 to make home improvements. Last year, for the first time, energy-efficient choices (windows and HVAC) topped the results. This year, it's back to traditional choices like kitchens, baths and hardwood floors.

This echoes some of what I heard earlier this year when working on my Green v. Green cover story for the dead-tree ...Read More

Oct 12 2009 12:54PM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

A roundup of some of the news and views affecting the housing industry around the Web today:

• Gotta admit this was a bit of a surprise: New Jersey is leading the way in solar power. The state is No. 1 in solar installed per square mile, according to CNBC. Generous rebates and incentives are credited with the state's success.
• KB Home is under investigation (again) by the Securities and Exchange Commission "regarding p

...Read More