Qualified Remodeler Magazine

AUG 2016

Qualified Remodeler helps independent remodeling firms to survive, become more professional and more profitable by providing must-have business information, namely best business practices, new product information and timely design ideas.

Issue link: https://qualifiedremodeler.epubxp.com/i/715119

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Page 18 of 99

Builders (NAHB). The survey, released to kick off National Home Remodeling Month in May, revealed the most common remodel- ing projects in 2016, compared to historical results of the survey. "While bathroom and kitchen remodels remain the most common renovations, basements, whole house remodels, and both large and small scale additions are returning to levels not seen since prior to the downturn," says 2016 NAHB Remodelers Chair Tim Shigley, CAPS, CGP, GMB, GMR, a remodeler from Wichita, Kan. "Clients want to add more space, but remodeling a significant portion of the home is not an easy feat. That's why it is important to work with a professional remodeler who has the integrity and expertise to take advantage of these large remod- eling jobs." In the survey, remodelers reported that the following projects were more common than in 2013: • Whole house remodels increased by 10 percent • Room additions increased by 12 percent • Finished basements increased by 8 percent • Bathroom additions increased by 7 percent Bathrooms topped the list of most common remodeling proj- ects for the fifth time since 2010. Eighty-one percent of remod- elers reported that bathrooms were a common remodeling job for their company, while 79 percent of remodelers reported the same for kitchen remodels. Window and door replacements decreased to 36 percent from 45 percent in 2014. Foreclosure filings down RealtyTrac released its Midyear 2016 U.S. Foreclosure Market Report, which shows a total of 533,813 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in the first six months of 2016, down 20 percent from the previous six months and down 11 percent from the first six months of 2015. Counter to the national trend, 19 states posted year-over-year increases in foreclosure activity in the first half of 2016, including Massachusetts (up 46 percent); Connecticut (up 40 percent); Virginia (up 18 percent); Alabama (up 11 percent); and New York (up 10 percent). Among the nation's 20 most-populated metro areas, five post- ed year-over-year increases in foreclosure activity: Boston (up 38 percent); Philadelphia (up 7 percent); New York (up 4 percent); Washington, D.C. (up 3 percent); and Baltimore (up 1 percent). There were a total of 280,989 U.S. properties with foreclosure filings in Q2 2016, down 3 percent from the previous quarter and down 18 percent from a year ago to the lowest level since Q4 2006. Nationwide foreclosure activity in Q2 2016 was still 21 percent above the pre-recession average of 232,082 properties with foreclosure filings per quarter in 2005, 2006 and 2007, but Q2 2016 foreclosure activity was below pre-recession averages in 15 states, including Arizona (13 percent below pre-recession averages); California (25 percent below); Colorado (72 percent below); Georgia (33 percent below); Michigan (46 percent below); Nevada (18 percent below); Ohio (9 percent below); and Texas (46 percent below). | QualifiedRemodeler.com QR August 2016 19 ardware Arc itectural Your for Fine "Fine Furniture" ® h w w w . m o c k e t t . c o m • 8 0 0 - 5 2 3 - 12 6 9 RCK7 Dual Towel Bar RCK7-SSS Satin Stainless Steel For more info circle 60

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