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So, is it “slow” in your area?

Oak River Mike | Posted in Business on April 7, 2007 02:07am

All things considered, have you seen a slow down in your area in whatever aspect of the industry you might be in?

Here in Florida, there are some builders that are sitting on quite a few finished yet vacant homes while another guy will continue to build out a subdivision they started.

By and large things have slowed down but it still tough to get subs to get your work done as some are still busy.

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  1. frenchy | Apr 07, 2007 03:21am | #1

    Oak River Mike,

     

     IN the seven county area I live in, there are approximately 250,000 homes for sale. (new used etc) last year 2006 there were only 14,700 homes sold. about 5.8 percent of all homes offered for sale sold.. 5.8%!  builders are still working,, sorta, but as soon as they finish a house they put another for sale sign up and scamble to find more work.

     Some of my customers who have a great deal of equity in their equipment simply turn it in,, (even though in many cases we offer to suspend payment for as much as a year to help them out) 

     I haven't sold a piece of equipment since last June! Normal is 2-3 pieces per month. That's 9 months without a cent of income.. I've stayed busy helping customers refinace, working out skip payment programs and whatever else I can do to help them thru the tough times.. I don't make anything doing it but hopefully they will remember me when the economy returns..

      March sales were up 4% over Febuary's which was at a 17 year low however new homes listed was up 6% Right now the road restriction that happens every spring is preventing anyone from doing anything, but once those restrictions are lifted early in May I'm hoping sales pick up at least a little..

    1. Oak River Mike | Apr 07, 2007 05:49am | #3

      Frenchy,

      Yikes!  Thats gotta be tough.  I know where you are coming from however as I'm kind of seeing the same thing.

      I'm not sure where the money is coming from for all these homes and land these guys keep building but they do...

    2. Joe Sullivan | Apr 07, 2007 05:53am | #4

      Frenchy:

      Had no idea the Cities were so slow.  What is happening further north?  My little cabin's appraised value increased by over 600% in the last 10 years.  As it is a family heirloom and I'd be pretty stressed before i'd sell it, that appreciation has not been good news.  Are things still running that way?

      J

      1. User avater
        BossHog | Apr 07, 2007 03:42pm | #5

        Last year was fairly slow around here. But I'm encouraged about what I see happening now. We're fairly steady with work, and we aren't always this time of year. We seem to be cranking out quotes left and right, and that's obviously a good sign.But since we're just a rural area, I don't figure we count for much in the national averages.
        Q: How can you tell when a man's had an orgasm?
        A: From the snoring.

      2. frenchy | Apr 07, 2007 06:34pm | #10

        Joe Sullivan,

         Prices are holding but that's to be expected.  Little real need to sell a vacation home yet. most of the new homes built fall into that catagory, many vacation homes were built as retirement homes in mind.

         Thus there is a steady balance between available properties and demand. 

         If you must sell right now you might have to wait a while or accept a dramatically lower number.

  2. User avater
    EricPaulson | Apr 07, 2007 03:21am | #2

    Very slight down turn and it depends on what market you are in.

    I drove a 15 mile stretch of NY 124 through area outside of New Caanan, CT and into Ny the other day and counted at least ten huge mansions going up.

    Wer'e not talking Mc Mansions here.

    The real deal. Some of these projects go on for 2-3years.

    See lots of new riding arenas and barns going up as well.

    Lot$ of $'s here. Just have to know how to get "in".

    [email protected]

     

     

     

     

  3. CarpentrySpecialist | Apr 07, 2007 04:07pm | #6

    Talked with the guys at my local lumber yard. Said they've been slow to boredom till last week when it started to pick up. Same with me.

    Best to you and yours, Chris.

    Building as thou art paranoid never harmed anyone.

  4. User avater
    basswood | Apr 07, 2007 04:32pm | #7

    Builders are really slow here, but it is tax season. The average return is around $2,500 and home improvements is the most common use of this money.

    I've been getting several calls a week, but mostly small, "tax return money" jobs (3 new countertops, one new kitchen, a bookcase, and a trim upgrade for 4 rooms).

    A builder of nice custom homes I trim for, joked last week that he might have to work for me this summer, but yesterday he told me that he just landed another nice build (just as he finishes the only one he has going).

    I still have large jobs to bid, but people are more tentative--slower to commit and more likely to reduce the scope of the project. That trim upgrade job I mentioned is only 1/4 of the job I had bid (no new doors, no entertainment center, no wainscotting--just pull and replace some trim).

    1. brownbagg | Apr 07, 2007 04:52pm | #8

      I wish it was slow, this going in at 4am and off at 7 pm killing me. when people pay three hours travel time everyday, it not slow. That five hour paid at $50 hour just for me to so up and say "Hello" daily

  5. Mooney | Apr 07, 2007 06:24pm | #9

    I keep visiting with my lumber yard as thats the real indicator of current activity.

    They have told me they absolutely did nothing in Febuary. They are off 36 percent in the first quarter with this time last year .

    People tell me they are very slow but no one has said they are out of work. A friend of mine who does handy man work said hes been on a two week uninvited vacation. If it doesnt get better of course he will have to do somthing else . He practly begged me for some work.

    Tim

     

  6. grpphoto | Apr 07, 2007 07:45pm | #11

    Here in Jersey, the real estate market is down a lot. Last summer, "for sale" signs were up all over, but very few actually sold. My next door neighbor has had her house on the market for about 8 months now. Prices have come down a bit also, as people who absolutely have to sell cut them.

    Renovations still seem to be doing ok. Jim, across the street, says he's still getting a lot of additions work. On my front, things are real slow; I haven't done anything since early February except work on my house. That's normal for this time of year, however. If it doesn't pick up by June, I'll be surprised.

    George Patterson, Patterson Handyman Service

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