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Newsflash

07-30-09  Recession Easing  The economy is beginning to show signs of stabilizing in some U. S. regions, boosting hopes of a broader-based recovery this year. A Federal Reserve report shows that in most regions the recession was easing or that activity had "begun to stabilize, albeit at a low level".

11-16-11  Remodeling Improves  In a recent HousingZone.com article, the September Build-Fax Remodeling Index reports continued nationwide record-setting pace, according to permits issued. September's level of remodeling activity was the highest since BuildFax introduced the index in 2004 and the 23rd straight month of increases. "Mortgage rates continue to be near record lows, and as homeowners from coast to coast refinance, they are continuing to update their current home and invest in their properties," said Joe Emison, Vice President of Research and Development at BuildFax. "The data from BuildFax show that homeowners are not only doing important 'maintenance' projects, such as fixing their roof, but also taking on projects that add to the ‘livability’ of their homes by adding decks, remodeling their bathrooms and updating their kitchens. These are immediate fixes they will enjoy and that potential buyers look for."  Here are the most popular types of residential remodeling projects since 2006: roofs - 21%; decks - 9%; bathrooms - 7%; garages - 6%; kitchens - 5%; basements - 3%.

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  • IKEA Launches New Smart Lighting Line

    Following in the footsteps of GE, Phillips, and a host of others, IKEA is now officially offering its own line of smart lights scheduled to be available in the U.S. by the end of April.

  • JCPenney Gets Into the Remodeling Game

    Since 2012, not a year has passed that JCPenney didn’t close more stores than it opened due to falling revenue. Sales last year were down 30 percent from where they were in 2011, according to Fortune. But the department store has a plan to recapture at least some of that lost revenue: home remodeling. 

    “With the resurgence of the housing market, consumers are spending more than $300 billion annually to upgrade their homes since nearly two-thirds of the nation’s homes are over 30 years old,” said Marvin Ellison, chairman and CEO of JCPenney, in a release. 

  • NARI Rolls Out New Accreditation Program

    The National Association of the Remodeling Industry has unveiled a new accreditation program—a first for the trade group.

    Traditionally, NARI’s certification programs have focused on individual remodelers’ knowledge and professionalism. To date, there hasn’t been an accreditation program for remodeling businesses—until now.