Great post Leah! We are currently holding our annual home show in Seattle. I have heard that the traffic is significantly higher this year. In fact, a friend that frequently does talks at this home show told me she typically has 20 attendees and this year she had well over 100!
April Bettinger
Nip Tuck Remodeling
www.niptuckremodel.com
Remodeling Mojo Rising
Home values and home equity remain depressed, but almost 90 percent U.S. homeowners surveyed want to remodel this year. Moreover, in contrast to all that DIYing of recent years, growing numbers of homeowners even want to hire professionals to do the work for them.
These findings and more lie at the heart of the spring 2012 RemodelOrMove.com Remodeling Sentiment Report. Based on a sampling of 5,000 responses to the ongoing Remodel or Move survey calculator, the report points to economic confidence as a key influencer for remodeling.
"Homeowners have growing optimism that they will be able to start their remodels this year because the economy will continue to improve, giving them the confidence they need to start work," said Dan Fritschen, founder of the site.
More trendlines over the past five years:
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | |
|---|---|---|---|---|---|---|
| current home value | $342K | 390K | 302K | 289K | 281K | 278K |
| home equity amount | $160K | 190K | 172K | 112K | 106K | 117K |
| will remodel this year |
11% | 23% | 32% | 27% | 23% | 24% |
| projected cost to achieve remodeling goals | $83K | 85K | 88K | 79K | 85K | 72K |
Among other positive signs, almost 70 percent of respondents plan to hire a contractor to do their work, down from 64 percent in 2010. A full 44 percent of respondents plan to do no work themselves, up from 33 percent in 2009.
“This shift away from homeowners doing some work on their own is more likely due to a temporary disparity in economic confidence," Fritschen speculated. "Those who feel more comfortable with the economy now are the ones who are also less likely to work on their own homes."
Here's an overview of trends from the report.
Learn more at RemodelOrMove.com.
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RemodWA1696 456 days ago
