Tuesday, February 5, 2013

General Contractors Feeling Effects of Home Prices Going Up in LA, Dallas

Business Finally Booming for Building Trades in Los Angeles and Dallas

The last six years have not been kind to the construction industry.  General contractors have been scraping to stay alive.  The building business has always been boom and bust, but in a few short months in 2008 friends and clients of mine went from being overwhelmed with work to having to take on handyman work to stay alive. 

That has all changed.  As noted here and here, single family home prices are rising dramatically in some areas.  In conversations over the last week with a client, general contractor, in Dallas and a contractor friend in LA, the effect is being felt throughout the building trades.  Work is already steady, and new quotes are coming in at a fast clip.

According to Bill Rayman, a home mortgage consultant and lender, "We have been experiencing historically low interest rates for a couple of years now.  Whether these rates stay this low is anyone's guess, but for those who want to refinance for a kitchen remodel or a room addition, the time is really right in the Los Angeles market."

If you are considering any type of home purchase, real estate investment, remodel, or if you just need to lock in these historically low interest rates, give a call today.


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