As Housing Market Slows, Builders Look for Diversification in Remodeling Industry.BETHESDA, Md. -- At a time when homeowners are expanding their homes rather than moving up, builders see diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. within the remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling industry as an alternative income source. The logic behind diversifying from one part of the housing sector to another is simple economics as they wait out a slowing housing market. "Builders who have never considered remodeling are now taking a look at our industry," says Mark G. Richardson, President of Case[R] Handyman and Remodeling Services, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . "For the past few years, we have been flying under their radar screen because of the dramatic increase in new home building. As the market continues to shift, we are seeing more inquiries about our franchise operations." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Harvard University's Joint Center for Housing Studies, the remodeling industry has doubled in size since 1996 and spending will grow 19% between 2005 -2015 reaching an estimated $268 billion dollars. "From a profit stand point, it's a smart business decision if a builder can capitalize To regard the cost of an improvement or other purchase as a capital asset for purposes of determining Income Tax liability. To calculate the net worth upon which an investment is based. To issue company stocks or bonds to finance an investment. quickly on an alternative market, especially when the cost of entering the remodeling sector of the industry is minimal," says Richardson. But Richardson warns that builders should do plenty of homework before turning to remodeling. "The remodeling industry is vastly different from the housing industry. There's a lot of competition from full-time remodelers in the business. Where as home building is impersonal im·per·son·al adj. 1. Lacking personality; not being a person: an impersonal force. 2. a. Showing no emotion or personality: an aloof, impersonal manner. , remodeling is about building and maintaining relationships with every client." About Case Founded in 1961 and headquartered in Bethesda, MD, Case[R] Handyman and Remodeling Services, LLC is the nation's largest full-service residential remodeling organization with a system of one hundred eighty franchise territories nationwide. The multiple award-winning firm continues a long tradition of industry innovation and superior craftsmanship Craftsmanship Alcimedon a first-rate carver in wood. [Rom. Lit.: Vergil Eclogues, iii. 37.] Argus skillful builder of Jason’s Argo. [Gk. Myth.: Walsh Classical, 29] Athena (Rom. . For more information on Case Handyman and Remodeling, please visit www.casedesign.com or call 800-513-2250. |
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