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Home Sales Still Sluggish, But Renovations Gaining Steam

 

Home Sales Still Sluggish, But Renovations Gaining Steam

POSTED BY administrator on Apr 30 under kitchen

Home Sales Still Sluggish, But Renovations Gaining Steam
News from LoanSafe:

(Source: Dave Stephens South Bend Tribune, Ind. (MCT) — Take a drive down Mishawaka’s Niles Avenue and see, on front porch windows, the three-word sign of hope for the fragile housing market: Notice of Permit.

In a short three-block stretch of street, three different houses have undergone or are going through major renovation — contractors replacing floors, removing walls and tacking on vinyl siding — all in the belief that the housing market is about to rebound.

“The market is opening up substantially,” said Kyle Bach, president of Mecca Companies, which mainly focuses on building affordable and student housing, and has recently begun renovating single-family homes. “But it’s still not anywhere near where it used to be.”

“Where it used to be” were the haughty years of 2005 to 2007, when even low-quality homes were snatched up by investors looking to flip them for a quick profit.

But then came 2008, the recession and a housing market generously described as soft.

Although most experts agree Michiana never truly saw a housing bubble — and therefore never a true bottoming out of the market — the recession and job losses still resulted in thousands of foreclosed homes and homeowners under wat…………… continues on LoanSafe

… Read the full article
.

Related News:

Remodeling? Tips for what to expect for your next project
News from Springfield News-Leader:

Johnson

Want to learn more?

The National Association of Home Builders has many resources available for those who are thinking about remodeling, including advice on what to think about before you begin and how to hire a contractor. For more, go to www.nahb.org.

More In Life

…………… continues on Springfield News-Leader
… Read the full article


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