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interestFor the first time since 2006, the Federal Reserve announced a hike in its short-term interest rates. Almost immediately, speculation took off across the media with questions about what this increase might mean for a variety of sections of the economy – the housing market being one of the most prominent suspects.

Yes, home sales have gradually increased and this year’s final total should be slightly higher than last year’s. So will this move by the Fed reverse the trend and cause home buying to tighten up?

The good news: If home buying slows, it won’t have nearly as much to do with mortgage rates as people might think.

First, the increase was only a quarter of a point, which will make the cost of a mortgage only marginally more expensive each month. So in many cases, that increase alone won’t prevent any serious buyer from rethinking their plans.

Secondly, even though a great many consumers have been in saving mode in recent months vs. spending, some economic experts see a shift coming in early 2016 with home sales picking up significantly. According to Fannie Mae’s Chief Economist Doug Duncan:
Housing demand is looking up as we head into next year. The rebound in purchase applications suggests that sales will gain momentum in the first quarter after retreating slightly in the current quarter. For all of 2016, total home sales are projected to rise 3.9 percent. We believe that further easing of mortgage lending standards will combine with a positive household formation outlook to help the housing sector expand.”

Based on what we continue to see and hear, chances are good that this interest rate increase won’t be the only one coming from the Fed. There could be as many as three more increases on the way in 2016. However, as long as these increases are gradual and small, the impact on housing shouldn’t be drastic.

That said, what we’ll want to keep a close eye on are two key factors: Job growth and overall incomes increasing across the country.

These factors need to keep pace with home prices possibly increasing as much as 5%. A percentage of potential deals may not go through as a result if the buyer’s income can’t rise in proportion to this pricing. While not expected to be a widespread challenge, it’s a scenario that has to be considered as we move through 2016. Yet if jobs and incomes move upward in a consistent fashion, the impact from small interest rate increases, even multiple ones, could be minimal.

What this means for new home projects
Certainly smaller projects in the home such as a bathtub or countertop refinishing shouldn’t lose any traction in the first quarter of 2016. With homeowners saving money in recent months, the timing may be very good for kicking the new year off with these affordable projects that could yield big returns down the road. If home buying isn’t expected to slow down and even increases despite a number of interest rate hikes, a homeowner with an eye on selling once the snow melts in the Spring might be wise to have a conversation about refinishing, reglazing and resurfacing now to get that project underway to prepare for an ideal showing.

For the first time since 2006, the Federal Reserve announced a hike in its short-term interest rates. Almost immediately, speculation took off across the media with questions about what this increase might mean for a variety of sections of the economy – the housing market being one of the most prominent suspects. Yes, home sales […]

kitchen trends 2016We’re continuing to see a pattern that minor investments in the kitchen and bathroom areas of the home can pay off big-time for the home’s value. We know that can definitely ring true for improvements such as refinishing a kitchen countert op. Here are several other remodeling ideas in the immediate vicinity of your refinishing project in the kitchen area that the homeowner could desire a whole lot more in the coming year:

 Welcome to the Smart Kitchen
Technology has made its way into the kitchen in a much bigger way and for many homeowners, there’s no going back. They want the docking stations built-in for their smartphones and tablets because leaving them behind somewhere else in the home isn’t practical. But making room for devices to charge and play music in the kitchen is simply the beginning.

In fact, greater connectivity between kitchen appliances and our devices is only going to become more common, such as having the ability to control a refrigerator through a phone or tablet. Whirlpool is even prototyping a concept of an interactive back splash that enables you to view digital recipes right on the surface.

Escaping to the Island Countertops
When you throw a party, do you ever notice that no matter how hard you try, everybody seems to wind up standing around in the kitchen island to congregate? Well, homeowners aren’t fighting that idea anymore. They’re designing their island countertops with this high traffic and visibility in mind. It’s why we’re likely to see a preference of high quality surfaces that leave an impression, such as granite. Plus, being an area that’s so frequently utilized by other members of the household, a granite surface can be ideal for easy cleaning.

Open Concept Brings Family Room Design Spillover
True, we’re talking about kitchens. But one of the most important trends of this space – that’s not going away in 2016 and may even rise in popularity - is the open concept kitchen that flows seamlessly into the adjacent family room. As the walls have literally come down, we’ve seen a greater emphasis on ensuring colors are well coordinated. This doesn’t mean that the two areas should look like a carbon copy of one another as each should have its own distinct identity. However, there’s no mistaking that the open floor plan ensures a certain degree of influence from the family room to the kitchen and vice versa, with a tie-in of design that reflects how these spaces are closer than ever before.

For the Modern Kitchen Countertop, Thin Is In
While wood may convey warmth, the sleek black and white look of a modern kitchen can call for a different tone and a different approach to the countertop altogether – specifically, thin countertops. In a way, the thin countertop works as an optical illusion to draw the eye to other elements of the kitchen like the backsplash and make the space appear larger than it is. From a logistical standpoint, the lighter weight of a thin countertop can be an installer’s best friend on those jobs that require a fair distance to transport the piece up several flights of stairs like the 3rd floor of a vintage condo building that doesn’t have an elevator.

Refacing with Veneers and Laminates
To some designers, veneers and laminates on a kitchen countertop used to be seen as low-quality “knock-offs” of the real thing, but that view is rapidly changing. Today, many veneers and laminates are used in high-quality kitchen countertops, not to mention these elements may increase in popularity in light of two trends: 1) The homeowner is seeing major returns on smaller investments such as these cost-effective options rather than highly expensive ones and 2) the homeowner is opting for a classic look in the kitchen that stands the test of time, not the one that’s trendy today but outdated tomorrow.

Of course, chances are that there are a lot more kitchen remodeling trends coming in 2016 in addition to the ones you see here. We’ll keep an eye on all of them as they arrive and make sure you’re updated on every which way the design trends and ideas in the kitchen shift.

We’re continuing to see a pattern that minor investments in the kitchen and bathroom areas of the home can pay off big-time for the home’s value. We know that can definitely ring true for improvements such as refinishing a kitchen countert op. Here are several other remodeling ideas in the immediate vicinity of your refinishing project […]

remodeling-magazine-logoA variety of replacement jobs are providing greater value for the money on a home’s resale than full-scale remodeling projects and the gap is widening according to Remodeling Magazine’s 2015 Cost Vs. Value Report.

The Report, which examines the average cost on 36 popular remodeling projects in 102 U.S. markets, suggests that replacement projects, from garage doors and entry doors to siding and roofing, are trending upward compared to 2014.

In 2015, the national average for a major kitchen remodel cost $56,768 but only $38,485 was retained at the home’s resale, resulting in just 67% of the investment being recouped. The news was similar for the bathroom, where a full remodel retained 70% of the investment on resale of an average $16,724 job. A full addition onto the bathroom only retained about 58% of the investment.

On the other hand, we’re seeing a strong and positive trend compared to the same time in 2014 for minor replacement projects recouping their value on resale – particularly so for midrange priced homes than upscale residences. For example, minor kitchen remodels have been one of the top projects for retaining their value compared to the original cost. In a variety of markets surveyed in Remodeling’s report, minor kitchen remodels even had a 100% payoff.

The bottom line? Cost-efficient projects are paying off more. Literally.
The trend of the report is clear – projects that cost the homeowner less than $5,000 have continued to recoup value upon resale. The large-scale projects demanding an investment of $25,000 and up haven’t fared as well as they continue to rise in cost but the retained value isn’t keeping up with those increases. It’s resulted in a widened gap in which replacement jobs are showing a 12.4% better average return compared to original cost than remodels.

With these trends in mind, it tells us that minor projects like a refinished bathtub or kitchen countertop give contractors on these projects an excellent opportunity when approaching a homeowner. Not only is the investment minor compared to a major addition, but the homeowner also has a much greater chance of finding their costs recouped upon resale of the home.

A variety of replacement jobs are providing greater value for the money on a home’s resale than full-scale remodeling projects and the gap is widening according to Remodeling Magazine’s 2015 Cost Vs. Value Report. The Report, which examines the average cost on 36 popular remodeling projects in 102 U.S. markets, suggests that replacement projects, from […]

seniorAccording to a new report from CareerBuilder, the remodeling industry isn’t just back. It’s poised to become one of the fastest-growing fields between now and 2019. In that time, the residential remodeling industry will grow by 26%, adding 148,000 jobs in this field alone. If this is the year that the remodeling market makes a full recovery to levels seen before the recession – and continues to grow beyond that – one key demographic that may influence this growth is the baby boomer audience.

Fueling the boom by aging-in-place
As the boomer generation continues to age, the type of remodeling work done may very well shift with it. True, some may engage in full-scale kitchen and bathroom renovations of over $75,000 in preparation of a move, but it appears likely that a greater number may choose less expensive projects to accommodate their aging in place. Think less about bathroom overhauls and more about bathroom with wheelchair accessibility. It’s not unreasonable to think that, if the budget is right, boomers will at least explore converting a 2nd bathroom on the main floor into a full bathroom. Similarly, the timing may be right to have a conversation about kitchen or bathroom refinishing in that the investment is quite economical for an outstanding return. In fact, a report by the Joint Center for Housing Studies (JCHS) at Harvard University, “Housing America’s Older Adults,” suggests that the peak time to talk to boomers may be those in their early 50’s who are still working and are likely many years from facing the kind of long-term care expenses that would compete for remodeling dollars.

Nearly 1 in 3 will be minorities
If current trends hold 15 years from now, decisions made on remodeling could even impact more people within the household. Why? Within the age bracket of those 65 to 79-years-old, 30% will be minorities. It’s predicted by Harvard researchers that this segment, particularly Hispanics and Asians, will embrace the environment of multiple generations living under one roof more so than we’ve ever seen before. In other words, rather than frequent moves from place to place, expect a significant number of boomers to look to beautify their existing space – all with the goal of maximizing their dollars as well as in the event multiple generations join them in the same household. Considering the size of the boomer audience to begin with, it’s the kind of demand should fuel one of the hottest industries for jobs for many years to come.

According to a new report from CareerBuilder, the remodeling industry isn’t just back. It’s poised to become one of the fastest-growing fields between now and 2019. In that time, the residential remodeling industry will grow by 26%, adding 148,000 jobs in this field alone. If this is the year that the remodeling market makes a […]

When Jennifer Ott of Jennifer Ott Design, LLC. asked readers on the designer website Houzz for their feedback on what they would consider a “must-have” for their kitchens, the most popular response wasn't anything to do with having a bigger kitchen. In fact, many people wanted a smaller one. Why? They still desired the features of certain appliances like a refrigerator and cook top but without the square footage required to maintain. At the same time, cutting down on space didn't mean they wanted to sacrifice quality in the way of storage, work surfaces or seating.

tiny house

That #1 answer gives us some insight into the trend we’re seeing with the very purposeful downsizing going on in real estate right now. For years, the idea that “bigger is better” has often ruled buying decisions. However, a swing in the opposite direction is occurring in which homeowners are taking a fresh look at what they truly value. They’re defining themselves by multi-functional spaces that feel more simplistic, sensible and yes, small. Don’t mistake this as purely an affordability issue either. By investing less on the size of the home, owners are often able to invest more on the design and materials within the home.

How much “stuff” do we really need?
It’s a question that homeowners may be asking themselves. After all, the byproduct of buying a bigger home is needing more furnishings. More home? More furnishings. And those furnishings, from a style perspective, don’t always hold up well over time - from a dated look to limited functionality. Suddenly more furnishings feel like more clutter. The kitchen and bath are still highly regarded, but areas such as a formal dining room are not as much of a “must have” either on a seller’s list or on a buyer’s. That’s why the switch is not only to smaller spaces but also more timeless and comfortable designs.

As you approach homeowners with the prospect of doing work in their kitchen or bathroom, remember these themes they’re responding to: Low-maintenance elements. Durability over time. Investing in high-quality design for smarter functionality, not merely to show off a space.

In their world, no matter how much square footage you’re actually dealing with, there’s always room for simplicity.

When Jennifer Ott of Jennifer Ott Design, LLC. asked readers on the designer website Houzz for their feedback on what they would consider a “must-have” for their kitchens, the most popular response wasn’t anything to do with having a bigger kitchen. In fact, many people wanted a smaller one. Why? They still desired the features […]

Refinishers now have a resource for how-to informationYouTube-Transparent-Logo

NAPCO recently unveiled a YouTube playlist with tech support videos. The professional videos show how to correctly perform many basic refinishing tasks and processes.

The videos are unique to the industry because they are professionally produced and informative and easy to follow. Titles currently on the YouTube channel are How to Install a Shower Inlay and the Basics of using Flint Stone; a topcoat that gives the look of granite at a fraction of the cost. Other videos in the pipeline include Spraying Basics, How to Maintain Your Spray Gun and The Importance of Breathing Systems. More videos will be added throughout the year.

You can view the playlist here.

A recent press release about this can be seen here.

Refinishers now have a resource for how-to information NAPCO recently unveiled a YouTube playlist with tech support videos. The professional videos show how to correctly perform many basic refinishing tasks and processes. The videos are unique to the industry because they are professionally produced and informative and easy to follow. Titles currently on the YouTube […]

NAPCO has awarded a contract to upgrade their enterprise resource planning (ERP) software to WAC Solution Partners, a Schaumburg, IL provider of software solutions. The new software, Sage Pro 300, comprises accounting, reporting and customer management modules. The new package will provide them with unprecedented access to data for every level of their business.

The management team at NAPCO saw the need to take their business software to the next level. They felt integrating more functions into one package would help them better manage their costs as well as provide enhanced customer service.

“Managing costs is critical for small and medium-sized distributors,” according to Dani Nichols, Vice-President at NAPCO. “Our sales have been great, but keeping costs in line is the key to maintaining a healthy bottom line. We are a conservative company though, and we plow profits back into the company to continually better serve our customers.”

“Customer service has always been our top priority,” said Jackie Stuckert, Customer Service Manager at NAPCO. “We have enjoyed steady growth by providing service at a very personal level. This new package will give our service representatives quick access to greater detail of a customer’s history. We will be able to help guide them to the products they need, when they need them.”

The new Sage Pro 300 software will:

  • Improve productive by giving employees at all levels the data they need to work efficiently.
  • Allow for future expansion.
  • Provide simple query-based ad-hoc reporting.
  • Increase customer satisfaction by allowing real-time inventory analysis
  • Integrate directly with NAPCO’s web site.

Click here to see the original press release

NAPCO has awarded a contract to upgrade their enterprise resource planning (ERP) software to WAC Solution Partners, a Schaumburg, IL provider of software solutions. The new software, Sage Pro 300, comprises accounting, reporting and customer management modules. The new package will provide them with unprecedented access to data for every level of their business. The […]

niles township pantryNAPCO is coordinating a food drive for the Niles Township Pantry. NAPCO will collect food through December 18th. The pantry needs all dry and canned food as well as paper products and baby items. NAPCO employees volunteered at the pantry earlier this year and are now helping out with a food drive.

The Niles Township Pantry serves food insecure families and individuals in Skokie, Glenview, Morton Grove, Lincolnwood and Evanston, Illinois. Due to government cutbacks the pantry has seen an increase in client need over the past few years.

Earlier this year several NAPCO employees volunteered at the pantry sorting food for distribution. The experience was fulfilling to the NAPCO folks as well as filled an important need for the pantry. A relationship was started between NAPCO and the pantry that lead to this food drive.

According to Steve Coven, owner of NAPCO, “The pantry serves a critical, basic need in the area. We feel it is so important no one goes hungry not only at the holidays but throughout the year. We look forward to continuing this worthwhile relationship.”

If you want to contribute please contact NAPCO at 800-888-1081 or at their website. They are accepting contributions now through December 18th, 2014. They will take care of delivering to the pantry. The pantry needs all types of canned food, dry food, personal products and items for babies. A complete list, as well as other information about the pantry, is available on their website.

Click here to read the press release.

NAPCO is coordinating a food drive for the Niles Township Pantry. NAPCO will collect food through December 18th. The pantry needs all dry and canned food as well as paper products and baby items. NAPCO employees volunteered at the pantry earlier this year and are now helping out with a food drive. The Niles Township […]

4thIn remembrance of 9/11 and in support our troops, the employees of NAPCO are gathering donations to send to servicemen, veterans and first responders. NAPCO will be collecting a multitude of items and forwarding them to Operation Gratitude. Operation Gratitude packs the items into care packages and ships them out.

According to their website, Operation Gratitude annually sends 150,000+ care packages filled with food, hygiene products, entertainment and handmade items, plus personal letters of support, addressed to individual Soldiers, Sailors, Airmen and Marines deployed overseas, to their children left behind, and to Veterans, New Recruits, First Responders, Wounded Warriors and their Care Givers.

NAPCO is collecting items through November 22nd. Items include knit hats, scarfs, yarn, Beanie Babies, stuffed animals, socks, DVD’s CD’s video games, iPods, energy bars, beef jerky, healthy snacks, lip balm, dental kits, pens, sport bottles and shaving cream.

According to Steve Coven, owner at NAPCO, “We really wanted to do something to recognize those who put themselves on the line for us each and every day. We picked Operation Gratitude because of their long commitment to these proud men and women.”

More information on the program is available at www.operationgratitude.com.

Complete press release

In remembrance of 9/11 and in support our troops, the employees of NAPCO are gathering donations to send to servicemen, veterans and first responders. NAPCO will be collecting a multitude of items and forwarding them to Operation Gratitude. Operation Gratitude packs the items into care packages and ships them out. According to their website, Operation […]

Gorilla Grip Wipe-on Refinishing PrimerThe bathtub, tile and counter refinishing business is very competitive. These small businessmen are always looking to save time and money. North American Polymer Company (NAPCO) customers are saving 45 minutes or more using Gorilla Grip, a revolutionary wipe-on primer. By saving this time, some refinishers report they can fit in an additional tub at the end of the day and make more money.

The conventional process of refinishing a tub includes 4 steps just to prime the tub. The bathtub first needs to be etched using a liquid agent. The tub is then sanded and sprayed with primer. After spraying the technician needs to clean the spray gun with an oil-based cleaner. Finally, the tub can be sprayed with the new topcoat.

NAPCO developed Gorilla Grip wipe-on primer to save their customers 45 minutes or more on each tub. Instead of a lengthy and messy ordeal, the refinisher simply cleans the tub, rinses and dries it, then wipes on Gorilla Grip primer. The entire process takes about 5 minutes.

“Our customers report saving at least 45 minutes per tub.” That is according to Mike Ripp, head of training and technical support at NAPCO. “A refinisher can fit in an extra tub at the end of the day and increase his revenue.” Mike went on to say. Not only do refinishers like the ease of use, they require fewer chemicals to haul around and save on material inventory costs as well.

For more information about this product, please visit napcoltd.com.

Complete press release

The bathtub, tile and counter refinishing business is very competitive. These small businessmen are always looking to save time and money. North American Polymer Company (NAPCO) customers are saving 45 minutes or more using Gorilla Grip, a revolutionary wipe-on primer. By saving this time, some refinishers report they can fit in an additional tub at […]