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Builders Pack 'Wow' in Master Bedrooms
Both builders and realty agents are reporting an increasing interest among home buyers in large master bedrooms equipped with such luxurious new amenities as sitting areas, coffee or juice bars and spa-like master bathrooms. Industry professionals say the interest may be attributed in part to the post-Sept. 11 "nesting" phenomenon, as more people are inclined to stay at home to relax rather than travel. Gopal Ahluwalia, vice president of research for NAHB, notes that the master bedroom is now close behind the kitchen and bathroom as the most important room scrutinized by buyers. Many new homes are being built with larger bedrooms to accommodate a separate sitting area. These areas also may be used to accommodate a coffee bar, entertainment unit, exercise area or home office. Realtors® and builders are recognizing the importance of these upscale amenities, as a new study by the National Center for Real Estate Research shows that the inclusion of a sitting area increases the sales value of a house by 8%. In addition to the bedroom space itself, master bathrooms and walk-in closets are also growing in size as more bathrooms are equipped with whirlpool tubs and large windows and as closets include extra storage and space for dressing. The more luxurious homes may even feature a fireplace or outside balcony as part of the master suite. (www.washtimes.com)
Washington Times (04/09/04) P. F1; Chappell, Carisa
The Next Trend for Homes Could Be Universal Design
Though many experts tout the benefits of universal design to the aging population, the idea has yet to catch on with home buyers and builders. Universal design allows home owners to stay put as they age with the help of wider doorways, stairless entries, low light switches, graded levels and door levers instead of knobs. Experts are calling for a campaign to educate the public about universal design, particularly how the features can blend in with the home and benefit people of all ages and physical conditions. For instance, low sinks make it easier for children to reach the faucets and wider doorways can accommodate both strollers and wheelchairs. "Take away the stigma and what you've got is convenience," remarks Diane Miller, executive director of Welcome, House of Modification Examples Inc. Since builders cater to demand, Leslie Marks of NAHB's Seniors Housing Council says that public education is crucial to the movement's success.
(www.jsonline.com)
Milwaukee Journal Sentinel (04/09/04) Derus, Michele
Plots & Ploys: Shrinking the Divide
More and more states are petitioning affordable-housing developers who seek tax-exempt bond financing and tax credits for their projects to provide high-speed Internet access to residents of these new developments. This year, for instance, California is awarding extra points to builders in the low-income housing tax-credit application process that have pledged to provide free Web access to residents. Separately, the nonprofit One Economy Corp. has been lobbying for states to provide incentives for developers to include high-speed Internet access in their affordable-housing projects. To date, a dozen states have adopted such measures (www.wsj.com)
Wall Street Journal (04/14/04) P. B4; Muto, Sheila
Active Older Americans Finding That College-Linked Communities Stimulate Their Minds
Developers have built retirement communities near the University of Florida, the University of Michigan, Cornell, Dartmouth, Duke and Stanford as a way of giving retirees access to educational activities, allowing them to relive their college days and nurturing a sense of community. Oak Hammock near Gainesville, FL, for instance, features apartments or homes with entrance fees between $102,000 and $477,000 plus the cost of meal and maid service, access to assisted-living or skilled-nursing care if necessary. These fees also give them access to a banking center, a convenience store, massage therapy, a computer lab and courses and campus amenities at the University of Florida. There are an estimated five dozen retirement communities that have been developed near colleges or universities in recent years; however, not all of them provide health care or grant complete access to campus services. (www.ap.org)
Associated Press (04/12/04) Word, Ron
NY Builders to Form Own Liability Insurer
New York home builders are planning to supply their own insurance coverage under the new Reciprocal Liability Insurance Company, which should begin offering plans to builders and remodelers within the next two months. The New York State Builders Association will run the company, which Executive Vice President Phil LaRocque says was created as a last resort after other major insurance providers, such as North American Casualty and Great American, recently pulled their coverage from the state. Before leaving the state altogether, insurers had been increasing their premiums in New York, complaining that the state's "strict liability" standard for builders makes them particularly susceptible to litigation over worker injuries. However, the state assembly has not been interested in changing the law, saying it has helped New York retain one of the highest construction safety records in the country. LaRocque notes that the lack of available policies has driven up the cost of insurance for the state's home builders even further and has substantially raised the average new home price for New York families. The state's insurance department, along with Sen. Nancy Larrain Hoffmann, has worked with the builders association to set up the new company. (www.insurancejournal.com/news/east/2004/04/12/41129.htm)
Insurance Journal (04/12/04)
Baby Buildings: Model Makers Create Condos in Miniature
A number of architects double as model builders, creating miniature structures used by developers to market high-rises and other projects even before groundbreaking. These models often feature the building's exterior and landscaping; but some go as far as showcasing individual units complete with spas, wine cellars and other amenities. Developers could shell out anywhere from $10,000 to more than $100,000, depending on the size and level of detail. Although most model builders use computers and laser printers to get the design right before creating the model out of plastics and acrylics; some still use pencils, knives and glue to make their replicas. Others go to the opposite extreme, offering three-dimensional computer models, virtual renderings and walk-through animations. (www.miami.com)
Miami Herald (04/11/04) P. 1H; Werne, Jo
Steel Crisis Hinders Local Companies
Due to significantly higher steel prices and decreasing supplies, many small construction companies are trying to implement a survival plan. Prices for steel products, such as structural steel beams, nails, sprinkler pipes, metal wall studs, girders, cables and guardrails, have increased about 60% since January 2004, mainly due to a lift in U.S. tariff restrictions that allowed China to purchase 30% of all scrap steel. Construction companies often work for months to establish a deal with a client, but because of unpredictable steel prices and long delivery delays, many deals are being revised or renegotiated or simply terminated. Associated Builders and Contractors warns that there is no end in sight to the problems. (www.tampabay.bcentral.com)
Tampa Bay Business Journal (04/09/04) Meinhardt, Jane
Split Personality
Split-level homes were popular from the 1950s to the 1970s, offering three levels separated by half-flights of stairs and more square footage than ranches at a lower price. Despite locations in mature neighborhoods near transportation and town centers, many of today's home buyers would rather avoid split-levels because of the smallish proportions of their kitchens, bedrooms and bathrooms; their limited storage space; and their uninspired façades. For some, however, limited housing choices have forced them to consider these dwellings. Those who lack the funds necessary to replace aging split-levels with brand-new homes are forced to remodel. Owners can put an addition on the back of the home, install energy-efficient windows and more sophisticated heating and cooling systems, jazz up the exterior with vinyl siding or bricks, modernize the kitchen and bathroom and replace the shag carpeting. Plumbing and electrical upgrades are also necessary if the home owner hopes to add a wet bar or computer station in the family room. Many other owners simply eliminate the walls that divide the kitchen, living room and dining area. (www.chicagotribune.com)
Chicago Tribune (04/09/04) P. 1; Mann, Leslie
Home Builders Still in a Sweet Spot
Lennar Corp., Centex, DR Horton and other leading home builders experienced double-digit declines in their stock prices in the last week due to reports of unexpectedly strong retail sales and robust job growth in March as well as signs of rising inflation. These variables could prompt the Federal Reserve to boost interest rates; and because borrowing costs make residences less affordable, investors responded by unloading their home building stocks. However, Morningstar analyst Arthur Oduma does not expect the housing market to weaken unless interest rates jump significantly — especially since the entrance of echo boomers into the market and demand from other segments will continue to fuel sales. Oduma also notes that larger builders will benefit from industry consolidation, and their size gives them a competitive edge when it comes to land purchases and price negotiations with materials suppliers. (www.cnn.com)
CNNMoney (04/14/04) Bhatnagar, Parija
Inner Strength
Jim Manuel, operator of a steel-fabricating business, is building a new house that has a frame made out of steel instead of wood — an idea the steel industry has tried to promote from time to time. Steel is often used in commercial construction, but is not as common in homes, though its resistance to termites is increasing its popularity. In Hawaii in particular, steel is a favored choice, with about 72% of new-home construction there consisting of steel-frame houses, according to Steel Framing Alliance President Larry Williams. The national average is about 2%, with the averages slightly higher in Florida and California, and Williams adds that the idea is becoming more popular in the Southeast. Steel is stronger than wood and lighter, making it less likely to be damaged by high winds or earthquakes, and it is not vulnerable to organisms. It permits larger open areas, does not shift like wood does and can be made from recycled metal, but it also conducts temperature more efficiently than wood and can be more labor-intensive to assemble. Some builders use both wood and steel in the same frame, and price may be a factor in steel's popularity. (www.journalnow.com)
Winston-Salem Journal (04/10/04) P. D1; Underwood, Kim
Large Firms Band Together
The 13 home builders that comprise the Public Home Builders Council of America want investors to know that larger builders are not vulnerable to boom-and-bust cycles like smaller players. Consolidation in the last five years, supporters maintain, has helped these players grow and achieve the strength necessary to survive rising interest rates and anticipated drops in housing starts of 2% in 2004 and 5% in 2005. Moreover, large builders are financed through the capital markets, while smaller companies are forced to consult local lenders. Last year, one out of five new-home sales was made by the 13 members of the recently-formed consortium. Still, Fred Abbo of Hollywood, FL-based Prime Homebuilders believes it will be hard for builders to convince investors that housing is no longer a cyclical business. (www.miami.com)
Miami Herald (04/14/04) P. 3C; Hanks III, Douglas
Hope for Those Who Want Homes of Quality
Florida Sen. Lee Constantine (R-Altamonte Springs) and Rep. Sandy Adams (R-Orlando) have proposed legislation that would force the Florida Building Commission to formulate strategies for constructing better quality housing. The bills follow a study of 406 new homes in Central Florida by the Orlando Sentinel and WESH-NewsChannel 2 that found major defects in eight out of 10 dwellings. Quality is on the minds of many in the industry, resulting in programs nationwide that aim to educate builders and subcontractors about proper techniques and establish standards for certain processes. Building Standards Institute CEO David MacLellan, for instance, has seen fewer disagreements between builders and home owners who read his books outlining the responsibilities of each party in terms of repairs and maintenance. Meanwhile, NAHB is rolling out a plan that makes classroom training, the creation of quality assurance manuals, random site evaluations and yearly audits mandatory for all builders. Dean Potter, working on behalf of NAHB, believes pictures that show the difference between good and bad jobs can help construction supervisors interact with immigrant workers. Potter also urges workers to take note of their mistakes so they can be avoided in the future. Most such programs are emerging in California and the the Southwest; and until they reach Central Florida and other locales, buyers must carefully gauge construction quality themselves. (www.orlandosentinel.com)
Orlando Sentinel (04/11/04) P. J1; Tracy, Dan
Moving Files to a New PC
There are a number of free services available to PC users who need to move their e-mail address books and bookmarked Web site links to new devices. A primer for transferring e-mail contact lists is available at About.com, and another for copying Web site addresses and passwords is offered by BackRex Software. At Xdrive.com, users upload files that are later downloaded onto their new computers. Users should also consider hard-drive scrubbers from File Shredder and Necro File to erase any sensitive data on their old PCs. (www.wsj.com)
Wall Street Journal Online (04/13/04) Mount, Ian
What to Do Before Disaster Strikes Your Small Business
Small businesses need to be just as prepared as large companies for natural or man-made disasters, viruses and other security threats and equipment failures. Drive imaging and tape back-up technologies helps businesses safeguard and easily recover important data. There are several products on the market that save images to portable hard drives, where files are stored and ready for retrieval. However, tape remains the most effective way to retain data for long periods of time, though the method is more costly because the tapes must be rotated and kept at another location. Once the technology is selected, businesses must implement back-up and service schedules and obtain a document from the service provider that explains how to restore key systems and applications in the event of a disaster. Businesses should store license codes, installation CDs, support information and other important items off-site as well. To maintain data and equipment access, small businesses should also install antivirus software and firewalls. (www.smallbizpipeline.com)
Smallbiz Pipeline (04/06/04) Ohlhorst, Frank J.
Got It Handled?
When businesses link Avaya's IP Office — Small Office Edition to their local area network (LAN), they can handle 16 phone extensions; permit four-digit dialing and toll-free calls to branch offices or employee homes; and transfer incoming calls to cell phones, home phones or voice mail. The easy-to-install device requires little storage space and needs only to be connected to the wall jack and a phone to make calls. However, LAN integration is more complex and should be undertaken by the reseller. Once the installation is complete, businesses can run and reconfigure the phone system without professional assistance. (www.entrepreneur.com)
Entrepreneur (04/04) P. 56; Hogan, Mike
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