The Sweet Spot Remodeling Blog

Nov 20 2009 7:50AM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

Don't forget, you've got only one week left to get your comments into the EPA on the proposed changes to the lead paint rules.

More on this from my post last week.

Nov 18 2009 9:02AM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

The New York Times today has more on the so-called "Cash for Caulkers" program (more officially known as Homestar).

It's a program that's been proposed by both venture capitalist John Doerr and former President Bill Clinton that would offer homeowners money for weatherization as part of another stimulus package. The program would give tax breaks to pay for upgrades and energy audits.

It's a great idea -- it creates business for remodelers, creates jobs and makes homes more efficient. People like to talk about building more energy efficient homes, but the reality is that even building every one of the 500,000 or so homes being built more efficiently will make only a tiny dent in energy usage compared t...Read More

Nov 10 2009 2:20PM | Permalink | Email this | Comments (3) |

By Jonathan Sweet

The comment period is now open for the EPA's proposal to eliminate the opt-out provision from the new lead paint rule set to take effect next April.

You've got until Nov. 27 to let the government know how you feel about this proposed change. Guidelines for commenting can be found here from the EPA. NAHB has also put together a sample letter for its members than can be accessed from its site.

In case you haven't been following this closely, a review of what's going on:

Last year, the EPA announced new rules for renovation in pre-1978 homes. (Fo...Read More

Nov 10 2009 9:12AM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

While the new home buyer tax credit helped boost sales in the third quarter of the year, its impact was mostly psychological and it stole from future sales, according to analysts.

The WSJ Development Blog on a recent report from Deutsche Bank:

Deutsche Bank estimates that the first-time home buyer tax credit worth up to $8,000 cost around $43,000 per home buyer, or around $15 billion for the estimated 350,000 home buyers who wouldn’t otherwise have purchased a home without the tax credit. The report estimates that just around 5% of all sales ...Read More

Nov 9 2009 1:21PM | Permalink | Email this | Comments (0) |

By Jonathan Sweet

A round-up of the news and views around the Web today affecting the housing industry:

• Online referral service ServiceMagic says its quarterly Home Remodeling and Repair Index shows homeowners are more confident about the value of their homes and that the company is seeing a "continued recovery" in the home improvement market.
• Calculated Risk on the increasing evidence that we're looking at a jobless, or even worse, a "job-loss" recovery.
• In an examp

...Read More

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