Tuesday, April 9, 2013

Construction Spending in U.S. Rises on Gain in Home Building

Construction Spending in U.S. Rises on Gain in Home Building

Construction spending in the U.S. rose in February, paced by the highest level of home building in more than four years.
Outlays climbed 1.2 percent to an $885.1 billion annual rate, following a 2.1 percent decrease in January, the Commerce Department reported today in Washington. The median forecast of 41 economists surveyed by Bloomberg called for a 1 percent rise.
Near record-low borrowing costs and an improved outlook for jobs are lifting demand for residential real estate, giving a boost to homebuilders including KB Home. (KBH) Faster hiring would ensure a more sustained rebound in the industry, allowing for bigger gains in construction spending.
“Housing, growth-wise, will be the best-growing sector of the major sectors in 2013, hands down.” Ken Mayland, president of ClearView Economics LLC in Pepper Pike, Ohio, said before the report. “I’m totally optimistic about housing’s recovery-- there’s an inevitability that it has to go higher.”
Estimates in the Bloomberg survey ranged from no change to a 2 percent gain. January’s reading was unrevised from the initial estimate.
Construction spending increased 6.6 percent in the 12 months ended in February before adjusting for seasonal variations.
Private construction spending advanced 1.3 percent from the prior month.

Housing Rebound

In housing, outlays climbed 2.2 percent to a $303.4 billion annualized pace, the strongest since November 2008. The gain was led by single-family projects, which increased 4.3 percent, and a 0.5 percent increase in home-improvement spending. Private non-residential projects rose 0.4 percent, led by construction of power plants and health-care facilities.
Spending on public construction climbed 0.9 percent from the prior month, the biggest advance since August. State and local agencies led the advance, while federal outlays dropped 1.1 percent, a second consecutive decrease.
Recent reports indicate a pickup in demand for housing. Sales of new homes in February capped the best two back-to-back months in more than four years, the Commerce Department reported last week. Builders began work on more houses in February and permits for future construction climbed to an annual pace of 917,000, the highest level in almost five years, pointing to a sustained rebound that will help power the U.S. expansion.
Advances in residential construction probably will give an even bigger boost to growth this year than in 2012, when it contributed for the first time in seven years. The gains are rippling through the economy as improving property values help restore consumer confidence and benefit builders such as Ryland Group Inc. and Lennar Corp. (LEN)

Buying Land

KB Home is among companies buying land in anticipation of increased demand. The Los Angeles-based builder nearly doubled its spending, to almost $350 million, on land acquisition and development in the first quarter, and has been raising prices, Chief Executive Officer Jeffrey Mezger said.
“There is no question we expect continuous strong growth,” Mezger said on a March 21 earnings call. “We have a lot of upside in every market that we’re in, and they’re now all recovering and there’s opportunities in every city.”
In addition to housing, the shale gas boom in Pennsylvania and other parts of the U.S. is giving a boost to industrial engineering and construction companies including Fluor Corp. (FLR) The Irving, Texas, company also reports increased activity in the Gulf Coast as companies including Dow Chemical Co. (DOW) and South Africa’s Sasol Ltd. begin work on new petrochemical plants.
The energy industry will need to “ramp up our construction resource capability,” Vice President Kenneth Lockwood said at a March 21 conference. “It’s an exciting opportunity.”
To contact the reporter on this story: Lorraine Woellert in Washington at lwoellert@bloomberg.net
To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net

Tuesday, April 2, 2013

Water Watch: Where You Want It, and Where You Don't


Real Estate Advisor: April 2013

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Water Watch: Where You Want It, and Where You Don't

While April showers might bring flowers, when water is concerned, a homeowner should be on high alert. Having water where and when you want it can be a blessing, but it must be properly controlled and monitored so that you are fully aware of its presence in your environment.
When moisture is not dealt with appropriately homes can become contaminated with molds, rot and other issues that can be costly to repair. Floors can buckle, doors and windows can warp, and electrical issues can occur. Yet we all want and need water for our homes. Cooking, cleaning, gardening, and other pleasures like fountains and water features in landscaping, hot tubs and pools, pets, all require water and as homeowners we should understand everything we can about how water works in our homes.
Generally, we have two jobs: First we need to understand how to manage water and moisture from outside forces like rain and groundwater that might threaten our structure. Secondly, we need to understand the water that we choose to bring into our homes and use for landscapes through plumbing systems.
Rain should be guided off the roof and into gutters that drain away from the home and foundation. The condition of the roof must be monitored and maintained so that leaks don't occur; if leaks do occur they should be fixed as soon as possible. Gutters should be cleaned and downspouts fixed with extensions as needed to ensure that water is guided appropriately and safely away from foundations, crawlspaces, and basements. Windows and doors should seal properly and roof areas that collect debris should be swept free of leaves, pine needles, moss or other elements that impede water flow.
When groundwater is present, measures should be taken to ensure that water isn't collecting near the foundation, under the house, or in the basement. If water collects in any of these locations, steps should be taken immediately to correct pooling/collection issues to prevent damage. Curtain drains or culverts may aid this process, but getting qualified help to assess the situation and help in engineering a solution is advised. Look at the entire system to ensure that you are not creating more problems for yourself or other people as you seek to improve an immediate issue.
In areas where groundwater might enter basements or crawlspaces, consider keeping a sump pump handy in case of emergency. If your home relies on a septic system, ensure that there is a tank alarm and that it is in working order. Should your septic system fail, this alarm can alert you of high water in the system prior to a release of sewage into the environment.
Sometimes we do invite water into our homes. Running water is considered to be a critical factor in determining whether a home is suitable for habitation. Plumbing that carries water, whether it be clean or waste water, represents one of the most important systems in your home. Like the electrical system and the heating and cooling system, the plumbing is a system that has mechanical parts that can fail. Excessive heat or cold, age, the quality of the pipes, and water quality are all factors that can contribute to the overall health of your plumbing.
Understanding how water gets into your home and your responsibilities around that is another area to investigate. If you are on a private or shared well, public water system, a water district, or have other arrangement for getting your water, it is critical that you understand who is responsible for the pipes that bring water to your home and how your system generally works. Do you know who to call in the event of a water emergency? Failure in pipes that bring water to your home can lead to expensive water bills, property damage, and disrupt your landscape if repairs require uncovering them. Knowing where water pipes are located leading to your home helps you avoid damaging them when driving heavy machinery or vehicles on your property.
When pipes, faucets, toilets, or appliances that use water inside our home begin to leak, there is opportunity for water to make its way into areas where damage may occur. Periodically checking the seal around your bathtub surround and shower, sinks, toilets, and grout in tiled areas that receive water can prevent undetected water damage. Don't forget to inspect your water heater regularly. Many hot water heaters hold as much as 50 gallons of water, and should they fail, could result in substantial water damage. If you are unsure about the condition of your water heater or its connections, have a plumber inspect it for you.
Check dish washers, clothes washers, ice-makers and other appliances that are connected to water. Be vigilant and do an annual inspection in and around your home, and you might catch a problem before it starts. Know how to turn off water to an area or to your home if needed, and repair leaks and seals as soon as you find signs of deterioration.
Do you have a fish tank? These habitats can contain many gallons of water - and that is water that should not be ignored. Ensure that fish tanks are secure and non-leaking, and inspect them periodically. If you live in a part of the country prone to earthquakes, or if you have small children or active pets, take extra precautions to prevent tipping or hitting of the glass. Consider the water issues around filling, emptying and cleaning these tanks, as well.
In areas where there are freezing temperatures, ensure that pipes are protected from cold and that systems can be drained if needed to keep pipes from bursting. Insulation or heat-tape around pipes that carry water in colder climates is an investment worth making. Heat lamps can be another powerful tool to have handy should your area face an unusual cold snap and you are dealing with frozen pipes. Many people advocate leaving one faucet in the house running slightly because running water will keep the pipes free of ice. If you are unsure about where to place insulation, heat-tape or a heat lamp, get professional advice from a plumber.
We also utilize water outside our homes in the form of watering systems, pools, fountains, hose bibs, holding tanks, rain barrels and other garden features. Water in these situations can be a wonderful thing, though we should also ensure that it is well contained, and able to be drained and cleaned as needed. Stagnant water can be a breeding ground for mosquitoes, thought to carry West Nile Virus in some areas, so ensure that there is adequate flow and pay attention to the overall health of the water you collect close to your home.
If any of these outdoor elements fail, what is the consequence? Could a leaking fountain create slippery walkways? Ensure that proper safety precautions are in effect should water in or around your home potentially pose a threat to children, pets, or others.
Finally, water is not the only moisture to consider - some moisture can actually come from the air. Steam from showers and cooking and even our own breathing can affect the air and health of our homes. Ensure that mold and mildew don't take hold in your living space by having proper ventilation in your home, bathrooms and kitchens. Excessive moisture in the air in wetter climates can be removed with a dehumidifier. However, don't forget to empty the reservoir in your dehumidifier to prevent it from overflowing.




*All Content from http://www.reliancenetwork.com/ 

Social Bios Recommendations


Wednesday, March 6, 2013

15702 Creekview Dr.


RE/MAX Ultimate Professionals
Kathy Dames

Cell: 815-693-8336
Direct: 815-741-5082
Home Fax: 815-741-3189
Website or Mobile:
http://www.kdames.illinoisproperty.com/MRD8237938

E-mail: Sdames02@gmail.com


15702 Creekview Drive
Plainfield, IL 60585
MLS#: 08237938
Price: $399,900
House Type: 2 Stories
Bedrooms: 4
Full Bathrooms: 2
Half Bathrooms: 1
New construction in popular Creekside Crossing! "The Kingston" with 4 bedrooms plus loft- 2.5 baths, Every bedroom has walk in closets! Master spa bath with whirlpool & separate shower! Formal living & dining rooms- family room with den . Large Gourmet kitchen with island and nook! Full basement, granite kitchen & baths! 3000 sq ft of todays luxury hi efficiency home. You can join the Spring Bank Aquatic Park!



The information being provided is deemed reliable but not guaranteed. All information must be verified by the purchaser.

Listing information courtesy of: RE/MAX ULTIMATE PROFESSIONALS

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real estate listings held by brokerage firms other than RE/MAX Northern Illinois are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. © 2013 Midwest Real Estate Data LLC. All rights reserved. Information Deemed Reliable but Not Guaranteed. Listing information from this property search is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.


© 2001 - 2013 Reliance Network and RE/MAX Northern Illinois. All rights reserved. US Reg. Copyright TX-5-910-991, TX-5-910-992, TX-5-910-993, and TX-5-910-994.
RE/MAX Northern Illinois. Each RE/MAX® office is independently owned and operated. Equal Housing Opportunity.

137 Waterbury Oswego Townhome!


RE/MAX Ultimate Professionals
Kathy Dames

Cell: 815-693-8336
Direct: 815-741-5082
Home Fax: 815-741-3189
Website or Mobile:
http://www.kdames.illinoisproperty.com/MRD8275251

E-mail: Sdames02@gmail.com


137 Waterbury Circle
OSWEGO, IL 60543
MLS#: 08275251
Price: $109,900
Bedrooms: 2
Full Bathrooms: 2
Half Bathrooms: 0
Great 1300 Sq Ft 2 bedroom ranch townhome that sits on a great open lot. Home offers open floor plan with lots of natural light. Den with double door entry could be turned into 3rd bedroom, kitchen includes oak cabinets, breakfast bar, all appliances Private master bedroom with walk-in closet and private bath. This home has very nice flow. Sliding glass door opens to patio and open green space.



The information being provided is deemed reliable but not guaranteed. All information must be verified by the purchaser.

Listing information courtesy of: RE/MAX ULTIMATE PROFESSIONALS

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real estate listings held by brokerage firms other than RE/MAX Northern Illinois are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. © 2013 Midwest Real Estate Data LLC. All rights reserved. Information Deemed Reliable but Not Guaranteed. Listing information from this property search is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.


© 2001 - 2013 Reliance Network and RE/MAX Northern Illinois. All rights reserved. US Reg. Copyright TX-5-910-991, TX-5-910-992, TX-5-910-993, and TX-5-910-994.
RE/MAX Northern Illinois. Each RE/MAX® office is independently owned and operated. Equal Housing Opportunity.