Financials
Financials
Business financials advice, reports, and trends for professional home builders and remodelers.
Remodeling Spending To Tick Up Through Mid-2025
The Leading Indicator of Remodeling Activity report says things will trend up after a modest downturn
Business
6 Strategies to Optimize Gross Profit
Thoroughly estimating and tracking gross profits is the life blood of a business, and one remodeler shares the approach that works well for his firm
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Selling Your Company to Your Team
From company valuation to terms of the transfer, here’s a look at how three different remodelers made the deal work
Business
What's Beyond the Hammer?
Working with Brian Gottlieb on the book Beyond the Hammer provided a masterclass on how to build an aligned team
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Obama signs 1099 repeal into law
A new tax requirement that would have required businesses to file more 1099 paperwork was repealed last week by President Obama. The tougher requirements would have mandated companies to file a 1099 for any individual or company they do more than $600 of business with in a given year.
Banks ordered to repair foreclosure processes
Bank of America, Wells Fargo, and JP Morgan Chase were among 14 financial institutions to receive penalties last week from the federal government for improper foreclosures. The banks were also ordered to revise their foreclosure procedures. Actions include having enough staff to handle the volume of foreclosures and establishing a single point of contact for borrowers.
Study: 81 percent still think home is best investment
Despite the housing bubble and subsequent crash, more than 80 percent of Americans still think buying a home is the best long-term investment a person can make. That's according to a recent Pew Research Center study, which found that 37 percent strongly agreed with that idea and 44 percent somewhat agreed with it.
Construction employment sees slight improvement
Construction employment saw an uptick in February, as 141 out of 337 metropolitan areas had increases in construction jobs compared to one year earlier, according to an analysis of federal employment data by the Associated General Contractors of America. Dallas-Plano-Irving, Texas, had the largest increase in jobs, adding 7,500 (8 percent).
Private residential construction spending declines
Residential construction spending dropped in February, with home improvement spending leading the decline, after an unexpected increase in January.
Russian billionaire pays highest known price for U.S. home
A Russian billionaire purchased a new home in California for $100 million, the highest known price paid for a single-family home in the U.S. Yuri Milner, who made his fortune investing in enterprises like Facebook and Groupon, built the 25,500-sf French Chateau-style home in Silicon Valley.
Shadow inventory supply remains high
The “shadow inventory”—the supply of homes in foreclosure or owned by banks but not yet listed for sale—fell in January, but could affect the housing market as weak sales and prices persist.
NAR: Second home sales drop, but hold market share
The number of second home sales dropped in 2010, but the market share held steady, according to new data released by the National Association of Realtors. The 2011 Investment and Vacation Home Buyers Survey found that sales volume for vacation homes fell 1.8 percent in 2010 from 2009, while the volume for investment homes fell 7.8 percent.
Census Bureau: 13 percent of U.S. homes vacant
Thirteen percent of all U.S. homes stand vacant, according to U.S. Census Bureau data.
Home prices fall again in January
The housing market continued to show its weakness as home prices dropped for the third consecutive month in January, according to data released by the Federal Housing Finance Agency.