Source: nahb.com
Whole house remodels and additions are regaining market share according to a 2016 survey of remodelers released by NAHB Remodelers, the remodeling arm of the National Association of Home Builders (NAHB). The survey revealed the most common remodeling projects in 2016, compared to historical results of the survey.
“While bathroom and kitchen remodels remain the most common renovations, basements, whole house remodels and both large and small scale additions are returning to levels not seen since prior to the downturn,” stated the 2016 NAHB Remodelers Chairperson. “Clients want to add more space, but remodeling a significant portion of the home is no easy feat. That’s why it is important to work with a professional remodeler who has the integrity and expertise to take on these large remodeling jobs.”
Remodelers reported that the following projects were more common than in 2013:
• Whole house remodels increased by 10 percentage points
• Room additions increased by 12 percentage points
• Finished basements increased by 8 percentage points
• Bathroom additions increased by 7 percentage points
Bathrooms topped the list of most common remodeling projects for the fifth time since 2010. Eighty-one percent of remodelers reported that bathrooms were a common remodeling job for their company while 79 percent of remodelers reported the same for kitchen remodels. Window and door replacements decreased to 36 percent from 45 percent in 2014.
Whether you are currently working on remodeling projects due to the colder weather and frozen ground or because that's what your customers are opting for, Residential Warranty Company, LLC & HOME of Texas have great remodeler warranty options at your fingertips. When it comes to revamping space, creating an addition to a home, or totally reinventing the look and style of a home, homeowners want to know the work is being done by a quality, professional remodeler. Contractors who offer the RWC warranty / HOME warranty provide clients with written, insured warranty protection, including a dispute resolution process.
It takes a lot of tools to both complete a remodeling project and to build a business. RWC / HOME offer you a great selection of tools. Talk to your account executive today for more details on the remodeler warranty, or any program available in our menu of choices.
Source: proremodeler.com
Readers of news articles about the housing industry have been inundated for a while with stories about Millennials and their desire to live in the city. Headlines such as “Millennials Prefer Cities to Suburbs, Subways to Driveways” and “The New American Dream Is Living in a City, Not Owning a House in the Suburbs” popped up frequently. And polling companies provided the data to back it up: The Nielsen Company, for example, reported that 62 percent of young people “like having the world at their fingertips,” preferring to live in “dense, diverse urban villages where social interaction is just outside their front doors.”
But around the middle of 2015, the stories about Millennials started to shift. We began to see more stories like, “Think Millennials Prefer the City? Think Again …” And now, a survey from the National Association of Realtors says that Millennials are finally starting to buy homes. And where are they buying them? That's right, in the ’burbs.
Why all of a sudden the change? Perhaps Millennials are now ready to settle down and start families and prices are cheaper in the suburbs. Or because they want to raise their kids in places that remind them of their own childhood. Whatever the reasons, the numbers show that buyers under the age of 35 now make up the largest share of homebuyers (35 percent) and that 51 percent of them bought homes in the suburbs or in subdivisions.
It stands to reason that these buyers, whose median age is 30, are the leading edge of their generation. As the rest of this generation, 80 million strong, reach their 30s, they will likely follow the same path—research from the Demand Institute says 75 percent of Millennials consider homeownership an important long-term goal and 48 percent say they plan to buy within the next five years. The question is, are you building homes they will want to buy?
So what exactly does this young group want? Turns out they want pretty much the same things almost everyone else wants: a nice neighborhood; good schools; access to public transportation; & convenient outdoor space to walk and exercise. Another requirement is close proximity to social activities such as shops, cafés, and restaurants. As for the house itself, they are looking for an open plan, ample storage, energy efficiency, low-maintenance living, space for easy entertaining, and of course good cell reception. But the single most important thing Millennials are looking for is living within their means in a home they can comfortably afford.
Unfortunately, the problem is, there just aren’t enough new homes being built that Millennials can afford. Because of land and labor costs, zoning and other regulations, most builders are targeting a smaller, more affluent group of buyers. A lot of new homes are large and include more expensive features and amenities. Something that a young, first time home buyer, will probably pass right by because it is out of their price range. A recent study by real estate advisors RCLCO revealed that when first-time buyers considered new and existing homes in their searches, only 18 percent of them bought a new home.
There are some success stories out there, though. RCLCO reports that a concerted effort by some master planned communities to offer a range of product types, such as townhomes, cottage court bungalows, and small single-family homes—in addition to conventional single-family homes — “can still achieve premiums on a dollars-per-square-foot basis.” The company cites the Daybreak master plan near Salt Lake City as a good example of a project that successfully integrates midscale, mid-priced product within a larger community.
Companies that are building more affordable homes and marketing them to Millennials are already starting to reap the rewards. It’s time for more builders to start thinking about creating a product that is attainable for the largest faction of buyers we may ever see.
When a builder provides a warranty on a newly built home, what exactly does that mean to your buyer and to you? It means protection, security, peace of mind and value. And a warranty from Residential Warranty Company, LLC will provide just that. One of the least expensive, longest lasting products a builder can purchase for the homes they build is an RWC warranty.
So why exactly is RWC your best choice?
OPTIONS: The RWC “Menu of Choices” allows you the ability to offer the best Warranty program for your business. From our FHA/VA accepted Standard 10 Year Warranty to our Day 1 Coverage Warranty to our Customized State New Home Warranty to our Remodelers Warranty and more, we have what your business needs.
FLEXIBILITY: RWC’s members are able to pick and choose which Warranty options to use and which projects they wish to enroll. We do not require 100% enrollment on detached homes.
MARKETING FEATURES: RWC provides its members with FREE attractive marketing materials to help promote your business and set yourself apart from your competition.
EASY: RWC offers online enrollment, the ability to order marketing materials, renew memberships and run reports through Warranty Express.
EXPERIENCE: RWC has been in business for 35+ years and has warranted over 3 million homes to date. The average tenure of our employees is 18 years.
STRENGTH: RWC’s insurer, Western Pacific Mutual Insurance Company (WPMIC), A Risk Retention Group, is A.M. Best rated “A- (Excellent)”. WPMIC insures only our thoroughly screened builder members and no other catastrophic risks such as planes, trains or automobiles, which can affect an insurer’s strength and equity. Less risk equals more strength. In fact, WPMIC currently has over $111 million in surplus equity.
CREDIBILITY: RWC’s membership criteria presents us with the strongest builder members. This screening process reinforces your credibility as an RWC member.
PROTECTION: RWC offers FREE mediation. When needed, binding arbitration is also available. Both offer effective resolution for Warranty disputes. This reduces your risk of litigation and legal fees.
ADVOCACY: RWC provides support to the Home Building Industry through our involvement and financial contributions as a member of local, state and national Home Builder Associations across the United States.
Our mission is to provide a level of security to homeowners and Builders alike. We can help you in maintaining or improving your customer service, define and limit your liability, and provide the warranty and insurance products your company needs. For more information, don’t hesitate to call 800-247-1812 x2149 or email sales@rwcwarranty.com.
By now we all know it's not a good idea to post sensitive information on social networking sites or blast private data through cyber space without taking the proper precautions. The last thing you want is for private information to be compromised when bouncing from server to server.
Keeping yourself secure from theft and vulnerability is a top priority in today's digital age. That's why Residential Warranty Company, LLC and affiliates HOME of Texas and MHWC have a secure upload portal on each company website for members and prospective members to use in uploading information and important documents to the home warranty companies.
Instead of emailing, faxing or mailing documents for new memberships, renewal memberships or home warranty resolution matters, the upload portal allows for secure transfer of data electronically, efficiently and economically.
Secure upload links can be found in the drop down menu when you hover over the "Builders" tab (or the "Manufacturer's tab on the MHWC affiliate site), as well as at the very bottom of every webpage. Simply follow the prompts to send documents securely. Better safe than sorry!
Who doesn't love a perk that allows you to reap the rewards of something that you already do... provide quality construction and outstanding customer satisfaction. That's right, cash in on YOUR excellent customer service by joining the Incentive Program!
Joining the Incentive Program is the best way for our Members to maximize their dollars plus enjoy additional benefits that only this program offers.
RWC established this program over 25 years ago as a way to reward our members for their good claims experience. Since then, RWC and affiliates have distributed $21.5 million in Incentive distributions back to Incentive members.
WHO IS ELIGIBLE?
A Member must enroll at least 20 homes per year or have an annual enrolled sales volume of $2 million. A free analysis illustrating how the Incentive Program can work for you is available upon request.
ADDITIONAL BENEFITS:
• The annual fee of $295 is waived for Incentive Members, saving an additional $1180 in years 2-5 of membership.
• The value of the Incentive distributions greatly reduces the effective cost of the warranty fee.
• The Member enjoys a locked-in enrollment rate under the standard program throughout the duration of their Incentive membership.
HOW DO I JOIN?
If you think your company will meet the eligibility requirements, call us to take the next step in building your own Incentive reward! Contact us at 800-247-1812, Ext 2149 or email sales@rwcwarranty.com.
Residential Warranty Company, LLC (RWC), HOME of Texas and MHWC will be attending the 2017 International Builders Show (IBS) in Orlando, Florida January 10-12, 2017. Be sure to stop by booth #W5571 to learn why new home warranties are an essential ingredient for your business. Whether you are a builder, remodeler or manufacturer, providing a new home warranty is a great way to enhance the value of your homes, strengthen your reputation and get a competitive edge in the marketplace.
As you know, it’s not strictly business at IBS. Before you head off to the House Party or the Spike Concert, have some fun with RWC and try your luck at our Wheel-O-Warranty prize wheel! Not only will you walk away with one of many great prizes, but you will also be entered into our grand prize drawing for a $1000 Visa gift card. Celebrate a brand new year with the innovative leader in new home warranties, RWC!
On August 14, 1173 Bonanno Pisano, began construction on an 183’ high marble and stone bell tower in Pisa, Italy. It took nearly 200 years to complete, but trouble started long before. Within five years of breaking ground, the bell tower began to lean due to a shallow foundation set in unstable subsoil. The design was flawed from the beginning. A builder’s worst nightmare? Just the opposite. Today the Leaning Tower of Pisa is one of the world’s most visited tourist destinations.
For the rest of us less able to make lemonade from the occasional lemons we’re handed, we need help. Fortunately, for Pisa, the tower’s lean hasn’t caused it to fall over on all those cash-carrying tourists…yet. If that ever happens, the contractor responsible for maintaining the famous landmark better have general liability insurance. Otherwise, it could become the world’s most famous uninsured construction defect claim. Of course, the tower has been standing for over 600 years without falling, so what else is there to worry about? Each year in this country more than seven million injuries are attributed to “slip and fall” accidents. Imagine how many tourists may have slipped or fallen going up and down the steps of the Leaning Tower of Pisa. Now imagine how many would-be buyers might slip or fall at one of your model homes or active job sites.
Nobody likes thinking about third party liability claims. Bonanno Pisano didn’t have to because he didn’t live to see his project completed. You’re probably planning on being around for a while and I’m guessing those plans don’t include losing everything you’ve worked for because someone was seriously injured at one of your job sites. If my guess is right, we’d like to help. Give RWC Insurance Advantage a chance to review your current general liability coverage. Call us at (866) 454-2155 and ask for Ron Sweigert or click here for a free no obligation quote.
It’s competitive out there and customers are looking for the best value in the HUD-Code manufactured homes they buy. Increase your value by adding a MHWC written, insured new home warranty to every HUD-Code home you build. You benefit from an enhanced reputation, an excellent marketing tool and the best warranty program on the market.
You know a warranty is paramount, but how do you decide which one is the right fit for your business? MHWC is happy to help. Together with its national affiliate Residential Warranty Company, LLC (RWC), MHWC has put together a wide array of warranty programs and services, including warranties for new HUD-Code homes, additions, remodeling projects, building systems and detached garages.
Historically, the standard ten year warranty is what the industry has provided and is the coverage Builders have become accustomed to over the years. With MHWC, Builder/Dealers and Manufacturers may choose between “full” coverage and “structural only” coverage. In either option, your liability as the Member is limited.
“Structural Only Coverage” means that coverage is provided for the structural or load-bearing components of the home for the entire warranty term.
• You continue to use your own customer service program to address workmanship, materials & mechanical systems issues in the first year.
• You’ll pay less to enroll a home in a structural only plan.
• You’ll have access to MHWC’s effective dispute resolution system for structural issues, which includes free mediation. Binding arbitration is also available if needed.
• Non-structural customer service issues must be resolved by your own customer service program.
“Full Coverage” means that we couple Structural Coverage together with industry-accepted standards for first year items (workmanship, materials, and selected portions of mechanical systems).
• By far, “full” coverage warranties are our most widely used programs.
• Clearly written set of warranty standards to spell out coverage are provided for you and your homebuyers.
• Includes 1 year of coverage on workmanship & materials and on selected portions of mechanical systems.
• Includes coverage on major structural components for the entire warranty term.
• You’ll have access to MHWC’s effective dispute resolution system, even on first year customer service issues, which can be a valuable tool in managing your service needs. This dispute resolution system includes free mediation. Binding arbitration is available if needed.
We are more than happy to answer questions and help you review your program choices that best fits your business. Contact Tifanee McCall at 800-247-1812 x2132 or sales@mhwconline.com for more information.
The online validation process launched October 20th, 2014 by Residential Warranty Company, LLC (RWC) and HOME of Texas (HOME) is, by all accounts, a success! Billed as the next step in the home warranty companies’ modernization plan, the online home enrollment validation system streamlined the process to save time for home warranty members and their homebuyers.
Residential Warranty Company, LLC (RWC), a leading provider of insured home warranties to the building industry nationwide, and HOME of Texas, RWC’s Lone Star State affiliate, have been fairly busy lately enhancing the quality of their home warranty programs and the efficiency of their systems for members. This trend continued as RWC and HOME moved to an online process for home enrollment validation.
Previously, the process had buyers sign paperwork at closing. After RWC/HOME received the signed copy and warranty fee, a validation sticker on a postcard was sent via regular “snail mail.” Depending on how quickly RWC/HOME received the information back from the closing, how timely the enrollments were processed, and how quickly the mail was delivered, it could take several weeks before a validation sticker arrived in the buyer’s mailbox.
Now, homeowners can simply go online to confirm their home warranty coverage. For convenience, homeowners can either print their warranty documents or save these documents as PDFs on their computer. They no longer need to wait for any confirmation to arrive in the mail and are spared the hassle of having to request a duplicate if the original gets lost. Also, and probably best of all, homeowners will enjoy a much speedier confirmation of their new home warranty whenever they choose to login via Warranty Express to retrieve their documentation (warranty book, closing document with info including validation number, effective date of warranty, term of coverage, and any applicable addenda). What’s more, they are able to view the warranty book online that was issued for their home in the future.
For more information on Warranty Express and its benefits, click here.
Alfred “Freddy” Pesqueira has just completed his training at RWC’s corporate office in Harrisburg, PA. Freddy is now representing our home warranty company as an Account Executive for Alabama, Florida and Georgia. We want to welcome Freddy on board our team of new home warranty experts!
A Little About Freddy...
Freddy is a graduate of Georgia Southern and was both a 4-time All-American and All-Conference football selection. He signed with the Canadian Football League in 2003 before returning to Georgia. Freddy is married with two children, a son and a daughter, and coaches wrestling, baseball and softball in his free time.
He comes to RWC from State Farm Insurance where he was a top producer, selling insurance and financial products for the last 5 years. His experience in insurance, building client relationships and business development combined with RWC’s 30+ years in the home warranty business and over 3 million homes warranted, makes for a successful team.
Freddy will be reaching out to prospects and members in the near future to introduce himself and to learn more about your company. Please take the opportunity to meet and talk with him. At any time, please feel free to contact Freddy at 678-276-6013 or freddy.pesqueira@rwcwarranty.com.
Thank you for your continued patronage and loyalty to RWC, as we continue to lead the way in new home warranties. Your alliance is very important to us.