Contractor Talk - Professional Construction and Remodeling Forum banner
1 - 20 of 237 Posts

·
Banned
Joined
·
14,078 Posts
Discussion Starter · #1 ·
Better start planning for it now if you want to take advantage of the huge surge that spring will bring in 2010.

2010 may be the biggest year for home improvments that many of us have ever witnessed. The perfect storm of

pent up demand for remodeling projects that have been put off
appreciation of home values
increased access to loans
highest savings rate in the US since 1940s means a lot of cash on the sidelines ready to be spent
migration to where the jobs are recovering the fastest will increase demand in those areas for home improvement

Some of us will just enjoy some low hanging fruit and just be relieved at the easying of the difficulties of being in buisness the last 2 years

Others of us will use this opportunity to expand.

I know I'll be planning all through the winter and the holidays looking toward what are the next steps for the next level and getting ready for the surge.
 

·
Curmudgeon
Joined
·
11,706 Posts
:thumbsup: From your lips to......















And you are about a mile closer. :laughing:
 

·
Registered
Joined
·
62 Posts
there will def NOT be easier access to loans. they will be just as hard, if not harder to come by. and home appreciation will not rise either, it's going down, and will continue to go down for a few more years yet. as wave after wave of foreclosures cont' to hit, values will slide more... as the only loans left require either STRICT income guidelines and/or HVCC appraisal issues coupled with large downpayments, sales prices will slide. and don't forget that unemployment/underemployment is slated to still increase

just my opinion, but 2012/13 look to be better bets
 

·
Banned
Joined
·
14,078 Posts
Discussion Starter · #5 ·
so you guaranteeing this??? :whistling
Yes.

I haven't posted a single thing on this board that was incorrect or wasn't accurate. I've made hundreds of business related posts and predictions and have a 100% accuracy.

So yes, I'm guaranteeing it.

How's everybodies Ford stock doing? Everbody enjoying the 400% return as of right now?

(Do a search)
 

·
Super Moderator
Joined
·
10,671 Posts
I agree Mike. We are starting to see the signs already. I am going to be increasing my workforce in the next few weeks to meet the demand. Looking into 2010, I see all those people who have waited on the sidelines, jumping in before interest rates rise. Unemployment has leveled off and even decreased in many states. 2009 has been a struggle for sure. Decent amount of work, but done at lower rates to keep everyone working. I have probably driven as many miles this year so far as in all of last year. Let the payoff begin!
 

·
Banned
Joined
·
14,078 Posts
Discussion Starter · #8 ·
I agree Mike. We are starting to see the signs already. I am going to be increasing my workforce in the next few weeks to meet the demand. Looking into 2010, I see all those people who have waited on the sidelines, jumping in before interest rates rise. Unemployment has leveled off and even decreased in many states. 2009 has been a struggle for sure. Decent amount of work, but done at lower rates to keep everyone working. I have probably driven as many miles this year so far as in all of last year. Let the payoff begin!
I'm with you brother!:thumbsup:
 

·
Workin' Hard & Havin' Fun
Joined
·
1,763 Posts
Yes.

I haven't posted a single thing on this board that was incorrect or wasn't accurate. I've made hundreds of business related posts and predictions and have a 100% accuracy.

So yes, I'm guaranteeing it.

How's everybodies Ford stock doing? Everbody enjoying the 400% return as of right now?

(Do a search)

Mike,
I see your God complex is up and running today! :)

Not that I compleatly disagree with you... but...
~Mat
 

·
Project Manager HFH..
Joined
·
3,711 Posts
I hope you're right Mike.
 

·
Registered
Joined
·
288 Posts
there will def NOT be easier access to loans. they will be just as hard, if not harder to come by. and home appreciation will not rise either, it's going down, and will continue to go down for a few more years yet. as wave after wave of foreclosures cont' to hit, values will slide more... as the only loans left require either STRICT income guidelines and/or HVCC appraisal issues coupled with large downpayments, sales prices will slide. and don't forget that unemployment/underemployment is slated to still increase

just my opinion, but 2012/13 look to be better bets
I agree and it will continue to be a lot harder to get anytype of loans.
 

·
Banned
Joined
·
14,078 Posts
Discussion Starter · #12 ·
there will def NOT be easier access to loans. they will be just as hard, if not harder to come by. and home appreciation will not rise either, it's going down, and will continue to go down for a few more years yet. as wave after wave of foreclosures cont' to hit, values will slide more... as the only loans left require either STRICT income guidelines and/or HVCC appraisal issues coupled with large downpayments, sales prices will slide. and don't forget that unemployment/underemployment is slated to still increase

just my opinion, but 2012/13 look to be better bets

Remember the number one truth in life --

What you believe, you will achieve.
 

·
Super Moderator
Joined
·
10,671 Posts
I agree and it will continue to be a lot harder to get anytype of loans.
I disagree.
It should only be harder for people who have no business getting the loan in the first place. Thats how it should be. Look, banks are in business to make money. They make that money by loaning it to people, and charging them interest. If you have a steady job, decent down payment, and are buying a reasonably priced home, you will have no problem.

Mike, you failed to mention the wave of people who are going to take advantage of the $8000 first time homebuyer tax credit. This is a goldmine that dwarfs the $4500 cash for clunkers plan. I feel that it will be extended into next year. Lets remember, 90% of the people still have their jobs. Really only 5% of the unemployed can attribute it to this recession because normal unemployment is still around 6%.
 

·
Banned
Joined
·
14,078 Posts
Discussion Starter · #14 ·
It should only be harder for people who have no business getting the loan in the first place. Thats how it should be. Look, banks are in business to make money. They make that money by loaning it to people, and charging them interest. If you have a steady job, decent down payment, and are buying a reasonably priced home, you will have no problem.
:notworthy
 

·
Registered
Joined
·
62 Posts
sorry guys, you couldn't be more wrong about lending. last week a huge loss was delivered to that industry with taylor bean whitaker losing funding and colonial pulling its wharehouse lending capabilities. ultimately, 25% of available $ sources dried up

the hits keep coming to the lending industry, which affects small biz and commercial lending. not many developers left with the warchests to funnel into new constr. and not many HO's will see the value in a decent scale remodel/addition. repairs will rule the biz for the next couple of years. simply put - there are too many in this industry to be profitable

since y'all like predictions i'll give you one. gird your loins

i also do NOT buy the unemployment rates you quote. too many are unemployed or underemployed at this time.
 

·
Registered
Joined
·
62 Posts
I disagree.
It should only be harder for people who have no business getting the loan in the first place. Thats how it should be. Look, banks are in business to make money. They make that money by loaning it to people, and charging them interest. If you have a steady job, decent down payment, and are buying a reasonably priced home, you will have no problem.

Mike, you failed to mention the wave of people who are going to take advantage of the $8000 first time homebuyer tax credit. This is a goldmine that dwarfs the $4500 cash for clunkers plan. I feel that it will be extended into next year. Lets remember, 90% of the people still have their jobs. Really only 5% of the unemployed can attribute it to this recession because normal unemployment is still around 6%.

the fact there there are so FEW loan options available and so FEW people in the market, will drive prices lower. and in turn drive your income down.


ther REAL golden rule is...

he who has the gold makes the rules. :thumbsup:
 

·
Super Moderator
Joined
·
10,671 Posts
sorry guys, you couldn't be more wrong about lending. last week a huge loss was delivered to that industry with taylor bean whitaker losing funding and colonial pulling its wharehouse lending capabilities. ultimately, 25% of available $ sources dried up

the hits keep coming to the lending industry, which affects small biz and commercial lending. not many developers left with the warchests to funnel into new constr. and not many HO's will see the value in a decent scale remodel/addition. repairs will rule the biz for the next couple of years. simply put - there are too many in this industry to be profitable

since y'all like predictions i'll give you one. gird your loins

i also do NOT buy the unemployment rates you quote. too many are unemployed or underemployed at this time.

And you believe their was a shooter in the grassy knoll?
 
1 - 20 of 237 Posts
Top