The Search for Value and Adventure
Though nearly 50% of retirees stay put in order to be near their families, Wake Forest University gerontologist Charles Longino expects more migration as baby boomers age. Of those who do relocate, most flock to Florida, Arizona, California, Texas, North Carolina, Nevada and Pennsylvania. Among the factors taken into consideration by retirees when choosing where to spend their golden years are costs, crime rates, climate and landscape. Florida-based gerontologist David Demko notes that many affluent retirees are leaving the United States for Western Europe, the Czech Republic, Mexico and Costa Rica, to name a few destinations. As for the homes themselves, AARP senior policy adviser Andrew Kochera says retirees prefer step-free entrances, levered door handles, wider hallways and well-lit spaces so they can remain independent longer. Amenities such as wellness centers, restaurants and maintenance services also are in high demand. (www.investors.com)
Investor's Business Daily (02/26/04) P. A10; Howell, Donna
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Innovation Is Changing How We Build
Builders need to go beyond the latest accessories and finishings if they plan on addressing the need for affordable housing at a time when land is scarce and labor and materials costs are high. The Partnership for Advanced Technology in Housing (PATH) is incorporating innovative features into its homes, many of which made HUD's recent list of the top 10 building technologies. Among them are fiber-cement siding, which is fireproof and protects homes in humid regions from excessive moisture and termites. Homes with structural insulated panels (SIPs), which are comprised of polystyrene foam attached to plywood, are earthquake- and wind-resistant and less likely to be damaged by insects and moisture. Meanwhile, frost-protected shallow foundations allows for cost savings because insulation is used to protect the home from frost heaves without having to dig below the frost line. The outside insulation used in this building technique additionally makes the home more energy-efficient. (www.philly.com)
Philadelphia Inquirer (02/22/04) P. J1; Heavens, Alan J.
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Old Real Estate Attracts Lower-Income Buyers
New Census research reveals that U.S. homes constructed pre-1920 have a median value of $98,794, slightly more than half the $183,502 median cost of properties built in 1990 and thereafter. The price affordability of the older units make them appealing to lower-income buyers; however, owners of mature housing tend to spend more on upkeep than those who own new homes. Moreover, older residences often lack the amenities of newer models — including two or more full bathrooms and central air conditioning. Most of the nation's older homes are located in the Northeast, which claims 20% of the mature housing inventory; followed by the Midwest, with just above 10%; and the West and South, with about 3% apiece. The data, culled from the 2001 American Housing Survey National Sample, is presented in the U.S. Census Bureau report, "These Old Houses: 2001." (www.inman.com)
Inman News Features Online (02/25/04)
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Lumber Prices Surge and May Boost Cost of Homes Further
A decline in foreign imports, last year's forest fires, the Canadian railroad strike and strong housing demand have driven up prices for framing lumber, plywood and engineered wood panels. Given that large home builders benefit from volume discounts and secure prices far in advance, experts do not anticipate a surge in residential prices as a result. However, Pulte Homes is among those builders considering a price hike of $1,000-$1,500 per house if lumber prices do not cool in the near future. Toll Brothers, meanwhile, is not planning to pass the additional costs onto consumers because demand has already inflated property values. (www.wsj.com)
Wall Street Journal (02/26/04) P. C1; Carlton, Jim
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A Boomlet in Kid-Friendly Condos
Many Manhattan couples once fled to the suburbs after having children, but more and more are opting to live in the city to avoid lengthy commutes. Developers are now catering to these families with kid-friendly condominiums, complete with noise-proof floors, stain-resistant flooring, shatter-proof glass and amenities ranging from child-care services and playrooms to libraries and movie theaters. These so-called "luxury family" units fetch between $1 million and $3 million. Demand for two- to four-bedroom units, meanwhile, has prompted many developers to completely eliminate studios and one-bedrooms. (www.nytimes.com)
New York Times (02/26/04) P. D1; Rich, Motoko
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Women Expand Niche in Owning Construction Firms
Female-headed firms are quickly gaining ground in the field of contracting and construction, according to a new report from the Center for Women's Business Research. In fact, the study shows that the number of construction companies owned by females surged 35.5% between 1997 and 2002. Moreover, of the nearly 279,000 women-owned businesses that posted revenue of $1 million or more in 2002, roughly 13.4% were construction firms. These and other "non-traditional" industries such as manufacturing and transportation, meanwhile, account for most female-owned businesses above the million-dollar threshold. "It's not just that there are more of these firms; they're more successful," insists Sharon Hadray, executive director of the center. "Previous center research show that women-owned businesses are just as financially strong and creditworthy as the average U.S. firm." (www.washingtonpost.com)
Washington Post (02/21/04) P. F1; Straight, Susan
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Laundry Room Upstairs Makes Regular Chore Convenient
NAHB's "What 21st Century Home Buyers Want" survey reveals that laundry rooms are a priority for new-home buyers. Many want the laundry room upstairs near their bedrooms, while others prefer a laundry area on every floor. More affluent home owners even have laundry closets with stackable machines in their master suites. (www.accessatlanta.com/ajc)
Atlanta Journal-Constitution (02/22/04) P. 3HF; Bruce, Leslie Everton
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People Favor Solar Power — But Not in Their Neighborhood
Private solar-energy production in the United States has blossomed more than tenfold in the past decade and, based on industry estimates, is now sufficient to power some 300,000 homes. The trend is most prevalent in Sunbelt states, but also is gaining momentum in the Northeast and other colder markets. While many home owners profess to support the generation and use of solar power, however, many are taking a NIMBY stance when it comes to their own neighborhoods. In Florida and Arizona, for instance, dozens of home owners associations have intervened in an effort to keep residents from installing rooftop solar panels — which are aesthetically displeasing to some, with their different colors and flat, rectangular design. As many as 20 communities in California, meanwhile, have adopted legislation written specifically to deter solar-energy installations. In response to the resistance, manufacturers report that more customers are requesting panel colors that match the color of their roofs in hopes of efficiently camouflaging the solar-power systems. They also say they are selling more panels that look like actual roofing material. (www.wsj.com)
Wall Street Journal (02/25/04) P. B1; Carlton, Jim
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Public Home Builders Seek Respect on Wall Street
In order to "raise awareness and recognition for the public builders' role as a stable and growing provider of quality and affordable housing to millions of Americans," Pulte, Beazer, Lennar, Centex, Ryland and eight other home builders have established the Public Home Builders Council of America. The firms are concerned about how the industry is perceived by Wall Street analysts and investors as cyclical. "Public builders are more professionally managed; this is not a business made up of cowboy developers anymore," insists CEO Steven Hilton of Meritage Corp., another builder participating in the council. Stable capital structures, lean land supplies, improved availability of market research, more elaborate customer service and industry consolidations, among other factors, should continue to fuel growth in the building industry. As for interest rates, Hovnanian Enterprises CEO Ara Hovnanian believes the expanding economy, job growth and willingness of home buyers to obtain adjustable-rate mortgages will prevent rate hikes from hurting builders' profits. Hovnanian also discredits concerns about an impending bust because he sees no evidence of a building boom, mainly because construction has held steady at 1.5 million-1.6 million units annually. (cbs.marketwatch.com)
CBSMarketWatch.com (02/19/04) Kerch, Steve
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Landscape of Tomorrow Is Here Today
More and more Florida builders are adopting green building techniques that pave the way for energy-efficient dwellings, environmentally friendly landscaping, healthier home owners and open space conservation. Rey Homes' VillaSol in Osceola County, for instance, features 690 Energy Star homes, walking trails and other recreational amenities. Royal Palm Builders, London Bay Homes and WCI Communities are just some of the other builders incorporating rainwater-collection systems, recycled materials and other green components into their developments. The Florida Green Building Coalition's Green Development Designation Standard, meanwhile, focuses more on land than homes, basing certification on the conservation of natural resources and ecosystems as well as environmentally friendly circulation systems, utility practices, amenities, deed restrictions and educational programs. Unlike traditional developments, green developments do not hurt the surrounding environment or burden wildlife habitats. According to University of Florida Energy Extensive Service Director Pierce Jones, some green builders are actually able to turn around damaged ecosystems. (www.orlandosentinel.com)
Orlando Sentinel (02/22/04) P. J2; Alexander, Carrie
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Inside the Home of the Future
Researchers across the country are using wireless, cellular, broadband and computer technology to create interactive homes that make life easier for their occupants — especially baby boomers who plan to stay in place as they age. With a form of automation known as machine learning, for example, a home could monitor the occupants' habits to tell itself when to turn on the heater, the shower, interior lights and coffee makers. It also could schedule meals using built-in scales to gauge weight gain, as well as survey the contents of the refrigerator and have much-needed items ordered and delivered. University of Florida researchers have even devised a way for home owners to control the doorbell, door locks and outside lights through their cell phones. Among the other technologies being developed are sensors that measure daily activity; microwaves that read radio-frequency identification tags to automatically cook foods; mattresses with strips that monitor breathing and pulse rates; toilets that rinse and dry users to eliminate the need for toilet paper; and medicine cabinets that inform users of possibly dangerous drug interactions. Georgia Tech assistant computing professor Beth Mynatt notes, "If we can sneak these things into people's homes when they're young, for the convenience, they'll be there as we all get older and help us stay independent longer." (www.wsj.com)
Wall Street Journal (02/23/04) P. R1; Greene, Kelly
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With Computers, Shop Carefully and by Need
Small businesses do not have many options when it comes to computing, lacking the resources to hire IT staff or outsource operations, yet more are taking advantage of the economic turnaround, increasingly powerful equipment and tax breaks to invest in technology again. But as IBM Vice President for Global Marketing for Small Businesses Judy Smolski warns, the cost of the computer is not just the price paid for the hardware, but also includes training and maintenance costs, just to name two. Experts urge small businesses to conduct a comprehensive analysis of purchases so that contracts are clearly understood. Instead of buying one super computer for each employee, specific computers and software can be tailored to individual needs. Many small businesses make the mistake of thinking that they are safe from cyber attacks since, in their opinion, they are too small to draw attention, yet to today's worms and viruses, size is not important. Another important aspect of computing is a disaster recovery plan with backup tape storage drives. (www.nytimes.com)
New York Times (02/24/04) P. E2; Schwartz, John
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Farm Out Payroll, and Don't Miss a Tax Deadline
Tax time has meant the ruin for many a small business — even when little or no taxes are owed — simply by diverting precious time from urgent matters. Preventing problems need not be difficult with the implementation of inexpensive accounting software to track spending or the use of a payroll service. "The fact is that 67% of all audit disputes revolve around poor records," notes tax litigation consultant Daniel Pilla. "So, if businesses did nothing but have a comprehensive guide to what kinds of records they need to keep, they could avoid most audits." Businesses face 25% penalties each for failing to file on time and not paying their taxes on time. Experts urge businesses strapped for cash to file tax documents on time, that way avoiding having to pay at least one late fee. The largest payroll service for small businesses is Paychex, which offers a company with two workers who are paid weekly an average $14 weekly charge for payroll services and an extra $10 fee for handling tax payments. Tax attorney Harvey Shulman reminds filers that "the government doesn't have to prove that you were wrong, you have to prove that you were right," and that therefore, proper documentation is essential to avoid audits. (www.nytimes.com)
New York Times (02/24/04) P. E2; Johnston, David C.
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Soft Spot
Internet phone systems can help businesses slash their long distance telephone bills and improve their mobility. Any desktop PC, laptop or PDA with an Internet connection can serve as a telephone with the addition of an inbox/dialer, which can be downloaded from softphone service providers such as Vonage, TeleSym and MediaStreams USA. These companies charge installation or one-time user fees; but once the software is in place, users can make unlimited calls to any destination at no cost. The technology allows users to make phone calls over the Web when they are away from their offices, and mobility will be further enhanced once calls can be transferred between cellular and 802.11x networks. (www.entrepreneur.com).
(www.entrepreneur.com)
Entrepreneur (03/04) P. 44; Hogan, Mike
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