Cover Story Online Extra [CITYSunTimes January 2010]

Cause To Be Optimistic continued....

I don’t know about you, but I am tired of all the negative chatter. What the media will not tell you is how this is the best time to remodel. What the economy needs and the general public wants is a reason to be optimistic.

The government is giving you tax credits
Interest rates are low
The value of your home has hit the bottom and has started to rebound.

The overall cost of remodeling your home is as low as it will ever be. Labor and materials are great bargains. Very soon, you will see an increase in material cost which will be followed by an increase in labor cost. As more people start to remodel, it will be harder and harder to get a qualified company to begin your project in a timely manner.

Beware of unlicensed contractors who are working for wages. Although they are cheap, they do not perform quality work, do not stand behind warranties and will disappear at the first sign of a problem. The Registrar of Contractors has no recourse over these fraudulent people. You will be lucky if they don’t take your money and run.

Always hire a licensed contractor, because they are regulated by the Registrar and you have the protection you deserve. In addition to hiring a licensed contractor, it is always a good idea that they are certified. Certification means they have taken the time to improve their skills through education and yearly continued education. You will have a contractor who is up to date with its knowledge, provides a quality product, stands behind its warranties and provides customer service that is beyond contestation.

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COVER STORY

Cover title

Here’s a summary of what to expect for Arizona’s economy during 2010-11, according to Arizona’s Eller College of Management’s Economic and Business Research Center.

Following a 7.1% plunge in 2009, Arizona’s employment will decline by 2.7% in 2010 and grow slightly 2011.

Government payrolls will continue to shrink in 2010-11 as spending is trimmed to balance budgets. The public sector will lag behind the private sector by at least a year as the recovery unfolds.

A large portion (perhaps half) of the recent jump in home sales is investors snapping up properties. Another wave of foreclosures is expected to bring additional properties to market. Home prices appear to be stabilizing but could retreat again before bottoming. These should be good investments over a five-year period and if renters can be found.

Consumer spending, as measured by Arizona retail sales, will bounce back as the environment improves and pent up demand is satisfied. Expect retail sales to increase by 4.5% in 2010 and 10.4% in 2011.

INSIDER’S OPINION: Cause To Be Optimistic

By Tom Sertich
President, Kirk Development Company Custom Remodeling

During the course of the last 18 months, we have all been inundated with negative media coverage regarding the economy. Repossessions are at an all-time high, Banks are not lending and unemployment is up. All the media could do and still does is report negative after negative fact. Do they want us to believe the world is coming to an end? This kind of continuous talk creates an environment of negative self-fulfilling prophesy.

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COVER STORY Online Extra | CITYSunTimes January 2010