March Meeting Synopsis

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03/16/2012 11:57 AM

March General Membership Meeting – by Amy Wiedenmann, Sunwood Development Corp.

Our March general membership meeting was held at Anthony’s Ocean View on the 15^th and included an Economic Update, Materials Cost Forecast, and Banking/Appraisal Outlook.  Thank you to American Ladders & Scaffolds and Jamie Prior  for sponsoring our March meeting.

Bill Ryan from National Lumber gave us a materials cost forecast for 2012.  Bill looked into his crystal ball and saw an increase in material costs from now until about August.  He believes that costs are going to go up about 10% during our building season this year.

Terence Beaty from Prudential CT Realty delivered an economic update on new home sales from 2011 and the first 2 months of 2012.  When looking at the figures statewide and countywide, the average days on market increased, the median sales price decreased and the number of sales decreased from 2010 to 2011. However, if you look at the statistics per town they vary greatly.  In Wallingford, the average days on market increased, the median sales price decreased by 6.8%, but the number of sales increased by 3.3%.  In Branford, the average days on market increased, the median sales price increased by 15.5%, but the number of sales decreased by 7.5%.  Terence believes that Connecticut’s residential real estate market will continue to recover slowly in 2012 and that we will begin to see the benefits of patience and persistence.

For more information and for Terence’s complete report visit:

http://www.prudentialct.com/downloads/market-report/2011Q4.pdf

Joseph Antonios of Guaranteed Rate talked about the banking and appraisal outlook for 2012.  Joseph said that there is money out there and you can get a loan however you have to be financially strong.  You have to have money to put down, you have to have all of your financial records in order and they have to be very detailed.  The more information you can give to the bank the easier it is to get financing.  Joseph also recommends doing business with local banks because they have money to lend.

Upcoming Events:

Building Industry Day at the State Capital is coming up very shortly on Wednesday, March 28^th.  We will be meeting with our legislators to discuss the bills that can affect our industry.  This event is free to everyone so bring your employees, spouses, and families.  There will be a luncheon at noontime so we do ask that you register so we can have a head count. Visit the ST website at www.hbact.org to register.   

Our next General Membership Meeting will be on Thursday, April 19^th at Anthony’s Ocean View.  We will have a presentation on ‘How To Market Your Homes.’

Our SAM Tram (sales & marketing  tour) will kick off on Friday, May 11 and will visit 6 builder’s sites in North Haven, East Haven and Branford.  The committee is currently seeking sponsor ads for the resource booklet.  Contact Alisa  in our office for the ad sheet.

Our Annual Golf Outing will be held on Monday, June 18^th at the Oronoque Country Club in Stratford.  It is only $160 per golfer which includes golf, cart, lunch, dinner and all drinks on the course.  You can bring a foursome or sign up individually and we will place you in a foursome.  There are many sponsorship opportunities available.  If you don’t play golf, but would like to market your company at the outing, we are looking for raffle prizes and goodie-bag items as well. Please call Alisa if you are interested in golfing and/or being a sponsor.

As always, please remember to do business with members.