by JASON WHEELER

WFAA

Posted on July 29, 2014 at 1:27 PM

Updated yesterday at 1:27 PM

DALLAS -- The remodeling business in North Texas is going "through the roof" says Sandy Tabacinic, owner of Homecorp.

Its absolutely insane. It is the highest amount of projects I have had in years," she said. "In the nine years I have been doing this, never this much.

Some homeowners are opting for a do-over to modernize their places so they can sell them for more money. Others would like a new house but inventory of homes for sale has been too low, according to Tabacinic.

Most of the people calling me wanted to buy a house, but theres nothing in the market," she said.

And still others, like Mindy Albert, are redoing their current dwellings because the hot housing market in North Texas has raised prices too much to move to a new address.

Albert said her family shopped around for another house and found properties priced at upwards of $500,000 for a comparable house to what we have now. And what she (and many North Texas homeowners) have now is a home thats worth more. Thats allowing many people to afford a home equity loan to improve their living space.

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North Texas home remodels rise along with hot housing market

DES PLAINES, IL -- All current remodeling market indicators showed an increase in the second-quarter 2014 Remodeling Business Pulse (RBP) survey from the National Association of the Remodeling Industry's (NARI). Remodelers are currently seeing growth, from conditions in March, which had seen a decline in business conditions during the first three months of 2014.

Growth indicators in the second-quarter 2014 are as follows (rating is from 1 to 9, where 1 is much worse than a year ago and 9 is much better; 5 is about the same as last year):

Current business conditions increased to 6.29 (from 6.07 last quarter) Number of inquiries increased to 6.38 (from 6.24 last quarter) Requests for bids rose to 6.29 (from 6.16 last quarter) Conversion of bids increased 5.83 (from 5.71 last quarter). Sales value of jobs bounced back, to 6.20 (up from 5.84 last quarter).

"This quarter didn't show much change in conditions driving growth," says Tom O'Grady, CR, CKBR, chairman of NARI's Strategic Planning Committee. "People needing to do postponed projects remain the number one driver at 80 percent, and improving home prices, at 59 percent, continues at number two. What is encouraging -- is that the value of jobs sold had a statistically significant growth."

Economic growth, at 47 percent, was the about the No. 3 condition driving growth, a jump from 37 percent in March.

The three-month for outlook for business, though, declined for the first time since September 2013, dropping in June to 6.32 from the previous high posted in March of 6.51. However, market activity remains positively weighted, with only 8 percent of remodelers reporting any level of decline versus the 70 percent who are seeing some level of growth.

"As the industry slowly recovers from the 2008 downturn and comparisons are being made to healthier year-ago periods, we may see these ratings soften some," O'Grady says.

Many of the comments attribute the negative outlook to two common themes: pricing and lack of skilled labor.

"Remodelers report that shortages are particularly acute for trained workers with basic carpentry skills to work in the field," O'Grady says.

The results were relatively equal across regions with the Midwest showing the strongest rating for current conditions at 6.39 versus 6.29 for the total United States. The outlook for future growth was strongest in the South at 6.42 versus 6.32 for the country.

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NARI Remodeling Indicators Show Jump in Current Conditions

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The Federal Government on Thursday said that the ongoing remodeling project of the Nnamdi Azikiwe International Airport, Abuja would be completed by the end of this year.

The project is being financed from the $500m loan secured by the Federal Government from the Chinese Government for the remodelling of Lagos, Port Harcourt, Abuja and Kano airports projects.

The loan has a seven year moratorium; and interest payments totalling $113.9m.

Addressing journalists during an inspection tour of the airport and light rail projects being executed by the Chinese Civil Engineering and Construction Company, the Minister of Finance, Dr Ngozi Okonjo-Iweala, said the projects is among those prioritised by the Federal Government based on President Goodluck Jonathans directives.

The minister explained the project is about 30 per cent complete adding that the December target date for the project would be achieved.

She said, My impression is very good. The work is proceeding well, it is 30 per cent complete, but they are pushing.

We have told them that they must complete one out of the four and they have said they would complete the one of Abuja by the end of the year for Mr. President to commission it.

The quality seems solid. The design looks good. So, we are really looking forward to a new terminal that looks like anyone when you step off the plane in any country you will see it and Nigerians will be very proud. I am quite excited because what I saw there is very promising.

In his remarks, the Chinese Ambassador in Nigeria, Gu Xiaojie, assured that CCECC was committed to completing the project on schedule.

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Abuja airport remodeling ready in December -FG

PLANO, Texas, July 24, 2014 /PRNewswire-iReach/ --Professional Remodeler,the leading business resource for the remodeling and home improvement market, announced its 40 Under 40 Class of 2014 in its July issue and named Chad Hatfield as one of the remodeling industry's rising stars.

The 2014 class was chosen from more than 100 applicants and joins the previous 120 recipients of the 40 Under 40 franchise thatProfessional Remodelerlaunched in 2011. This distinguished class is diverse in its professional and personal interests, along with its commitment to service in professional societies and philanthropic organizations, such as Habitat for Humanity.

These next-generation remodeling leaders are owners, kitchen and bath designers, directors, presidents and vice presidents in remodeling businesses that range from large, multi-million-dollar firms to smaller operations with annual revenues in the neighborhood of $500,000.

"We noted some incredible advances in how the 40 Under 40 professionals manage their business," saysProfessional RemodelerEditorial Director/Publisher Patrick O'Toole. "Specifically, the role of technology, design software and the ability to manage a job site remotely have resulted in viewing photos, 4D images, and sales presentations with the flick of a finger on a tablet. These 40 professionals not only share the desire to be successful, they also want to build a solid foundation for the future of the remodeling industry."

To learn more aboutProfessional Remodeler's40 Under 40 Class of 2014, visithttp://www.proremodeler.com/40-under-40/2014?page=4or contact Patrick O'Toole atpotoole@sgcmail.com.

Professional Remodeleris published by SGC Horizon/Scranton Gillette Communications, based in Arlington Heights, Ill. http://www.ProRemodeler.com

Media Contact: Melony Trementozzi, Hatfield Builders & Remodelers, 214.281.8800, info@hbdallas.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Hatfield Builders & Remodelers

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Professional Remodeler Magazine Announces 40 Under 40 Class of 2014