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article imageHome remodeling industry may rebound in weak economic recovery

By Andrew Moran     Apr 8, 2013 in Business
Seattle - Since the mid-1990s, homeowners in the United States have spent more than $120 billion on various home renovation projects, such as room additions, new kitchens and interior replacements. Is this market thriving again?
The economic collapse in 2007 and 2008 left the housing market in shambles as businesses and homeowners suffered the ramifications of policies by the federal government, financial institutions and the Federal Reserve System. For the past few years, the home remodeling sector of the economy has remained sluggish, but experts see it rebounding even in the tough economy today.
Earlier this year, it was reported by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, the Leading Indicator of Remodeling Activity (LIRA) that the home renovations sector has been experiencing gains for the past year and could continue for the rest of 2013.
Study authors warn that political and external aspects could influence any gains or losses. Despite this, the leading consumers when it comes to home improvements are the elderly, who are looking to modernize their homes in their old age.
The data shows that homeowners aged 55 and over accounted for one-third of all home improvements over the past two decades. In 2011, that number soared 12 percent to 45 percent. Analysts even see echo boomers outspending their elders by millions of dollars as they enter at a time in their life they wish to remodel.
Hundreds of companies could experience gains from these commercial and residential trends, including Allied Marble. Established in the 1960s and based in Seattle, Washington, Allied Marble offers a number of services that include anywhere from installation of solid stone products to customized bathrooms, kitchens, fireplaces and counter tops.
Not only does it deal with marble and granite, the private company offers and installs limestone, slate, soapstone and other types of natural and manufactured stone for both commercial and residential projects.
The company provides a simple five-step process to start and finish the home improvements its customers want: free estimates, selecting a material, field measure and template, fabrication and installation. This whole process takes between seven and 14 days, depending on each job of course.
As with anything else in the home, the remodeling process can appear to be overwhelming, expensive and difficult to fathom. However, the company prides itself in lending an experienced, helpful, professional and supportive sales staff to guide its customers throughout the whole process. It also gives its clientele a tour of the showroom to browse at Allied Marble’s collection of personalized kitchens, fireplaces and much more.
Allied Marble has been under its current management since 1986 and has maintained a workforce of 25. From 2008 to 2011, the company posted a 14 percent growth with revenues exceeding $2 million. The firm was ranked No. 4,734 on Inc.’s 5000 list of fastest-growing private companies in the country.
With the spring air making its arrival, it’s the season of rebirth and new life. If homeowners, after watching HGTV, have the urge to breathe new life into the home then perhaps a company such as Allied Marble may be a trusted source for all things home renovations.
More about home remodeling, allied marble, Granite, home renovations, Financial collapse
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