Foreclosures are rampant throughout the United States. As people have lost jobs, gotten laid off, or been downsized, foreclosures keep rising. Most people fight to the end with the bank to try and get a reduced payment approved in order to stay in the home. That tactic usually fails, eventually. What is staggering, is the average time that it takes a foreclosure to actually go through from first missed payment to final foreclosure is much longer than you think.

The national average is at 674 days! Wow, that’s a long time. That’s almost two years. In other places it is as high as 1,053 days. According to one study, 40% of those who are delinquent on their mortgage have not paid a dime in over two years. The new game is basically paper confusion. People are now challenging the paperwork during the “robo-signing” scandal of 2010. Banks are being delayed on foreclosures for months and months over this because it takes time to review and investigate.

Another tactic being used by folks in foreclosure is to request the paperwork showing that the bank they are battling is the legal holder of the mortgage. This is not as easy as it seems for the bank. Most mortgagees are transferred electronically, and the paperwork can be very difficult to find. This has actually caused foreclosures to cease because the bank indeed could not find the paperwork. The home dwellers now have another chunk of time until the bank decides to try again.

It’s almost like a game of cat and mouse. Paperwork and requests for legal papers have allowed many people to remain in their homes for years. Whether you agree with the tactics or not, a couple things are true. The bank owns the house and wants its money. People will find ways to avert the system in order to provide for themselves and their families.

 

Unless you have been living under a rock you know that the economy isn’t very good. More specifically, the housing market is a mess and has taken a real beating for the last several years. Places like Vegas and Phoenix have become literal dens of abandonment. Large portions of entire allotments have empty houses. Houses that were once homes to families living very different lives. People have left their homes, and simply walked away. They cannot afford to live there anymore.

So now we have all of these empty homes that are not being paid for, have been neglected, and home owners who simply cannot afford to pay anymore. As unemployment rose, many people were losing their jobs because of closures, shutdowns and down sizing. Most people want to own a home and they want to be able to pay for it. Once you are jobless, it makes it pretty tough to continue.

There are ways that things can be turned around. The market has been showing signs of life. One example is the sheer numbers that people have to work with.

A few years ago, the government had a tax break that basically paid all first time home buyers $8,000 back. It was a real nice deal, and many people took advantage of this benefit. Come full circle – from that time until now, the interest rates have come down far enough that anyone can get a house and save. It has been reported that the savings on a $200,000 home from the difference in interest rate from  the days of the $8,000 benefit to now reach about $80,000. So, when you compare $8,000 to $80,000 – there is no comparison. People ought to be lining up around block for this deal. They did for $8,000.

The problem is, people are uninformed. Everyone knows that interest rates are down. They just have not done the math to extract out what that means for them. Once people realize this, they cannot believe the numbers. Some real estate agents are latching on to this information and are running with it. Those who are, have reported some success. The $8k story was hyped by the media, so a lot of people heard, and many people acted. The $80k story of savings is not being talked about at all, for sure not in the media. It’s still exists, and it needs to be shared.

In the world of building every one is important. From the General Contractor all the way down to the smallest sub, everyone is vital to pulling off a project. So, how important can a bath accessory subcontractor be? Well, actually – pretty darn important. If a subcontractor wins the bid for their part of the work, they are awarded the job and are expected to show up during the project meetings and stay on track with their work.

The bath accessory sub provides quite a bit to the bathroom in a home or public restroom at a hotel or apartment complex. The small items they provide are the paper holder, towel bars or rings, shower rod and robe hooks. These items are relatively easy to install and take a minimal amount of time. The bigger items include the mirror, the medicine cabinet and the shower enclosure. In an apartment setting or public area, industrial paper towel dispensers, soap dispensers, seat cover dispensers, toilet paper holders, grab bars and bathroom partitions are also installed by the bath accessory sub.

A bath accessory company usually does not start work on a project until the very end. The only people who come in after them are the carpet subs, finish painters and cleanup crew. They do have to attend weekly meetings along with all the other subs. They also have to come in early to make sure the prep work and work around their area is done correctly so they can proceed when it is their time. Drywall subs, framers and counter subs quality of work is crucial to the bath accessory sub. Drywall cutouts need to be made for recessed medicine cabinets. If these are not done at the right time or location, delays interfere with the project timeline. Also, back splashes on counters need to be installed at the correct height as not to interfere with the mirror specifications.

A bath accessory sub can also make more money on a project by cutting their own glass for the mirrors and showers. Showers used laminated glass or “lam” for short. The lam comes in as big sheets that is then cut down to spec sizes by the sub. These pieces are then used to complete jobs depending on the size of the pieces needed for the shower. Other tempered glass which is reinforced and strengthened, is used to make the mirrors.

 

We are all aware that the economy is bad. It’s real bad. Some of us have jobs and continue on day to day. Some of us are out of work and are relying on savings to get us through until we can find another job. And some of us won’t be able to make the next mortgage payment. What happens when people simply cannot pay their house payment? In one area of Northeast Ohio, they are simply tearing houses down.

In the late 1990′s houses were being built all over the place. Moving into the 2000′s, the pace picked up even more. Home builders were building houses on record pace – and it wasn’t fast enough. Everyone was getting a loan, and everyone wanted a house. From first time home buyers to retirees looking for a place to settle in, homes were being bought at record pace. Because of the out of control demand, the price of the houses was being driven higher. The more people are willing to pay, the more they can sell for. Getting a loan was no problem. Even folks with mediocre credit could get loans.

And that is where the problem began. Many people were getting into loans that they really could not afford. Maybe they could afford it on paper, maybe with no income verification – maybe they could get the loan, but they probably shouldn’t have. Add on to that increasingly bad financial practice; the economy was starting to have issues. Many industries were already starting to feel the crunch and were starting to cut back. This meant layoffs. Companies that had never ever laid anyone off were now forced to.

One community in Cuyahoga County, Ohio has felt the brunt of this turmoil, and it’s not going away anytime soon. They have actually started tearing down houses in order get rid of the houses that are in such bad shape, the banks don’t even want them anymore. People who used to have well paying  jobs now struggle with the decision whether to put food on the table or to pay the mortgage. That is a tough situation to be in. City workers, nurses, business owners have all been affected by this recession in Cuyahoga County. These people would normally just write a check and pay the mortgage just like any other bill. But now the money has run out – there is no more.

So, left with no choice, they simply walk away. They walk away from their life, their home, their dreams – they have no choice. This is were the entire neighborhood and neighboring communities really suffer. Most of these homes have been vacant for six months, eight months – even over a year. Nothing has been done to them. They are deteriorating symbols of what was. As they sit vacant, real estate agencies are afraid to put up for sale signs in fear of scaring potential home buyers off. The number of vacant homes on any given street could out number those that are inhabited.

The bank doesn’t want the house, the owner can’t pay anymore, the city doesn’t want to deal with the vacant property as far as vandals and deteriorating the neighborhood. The city pays the $5,000 – $8,000 to have the house tore down, the bank takes the loss and the owner walks away homeless. This is is happening all over the United States. Not everyone is so quick to tear down property, but the scenario still exists. The only way for this cycle to end is for the banks to step up and recalculate the loan based on real-time market value, and work to keep the mortgage owner in the house.

 

The new Dallas Cowboy football stadium is something to behold. It’s ridiculously enormous. Then, add to that, it cost $1.15 billion to construct. No, you don’t have a hearing problem – a billion, for a building. The new stadium replaced the old Texas Cowboy stadium which opened in 1971 and was used through 2008. The new stadium is currently the largest doomed stadium on the planet. It also has the second largest HD screen in the world, stretching 40 yards left to right. I can’t imagine who has the number one largest.

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The stadium was completed in May 2009, and can hold 80,000 screaming fans. Well, it can actually hold 110,000 screaming fans if you include all of the standing room. There are many other sporting events that take place in this stadium. You would think so, especially for the cost to build it. College and high school football games are played there, along with basketball, soccer, motocross and boxing matches. Concerts are held at the stadium as well. One would assume that the band would have to be pretty big to drawn enough fans to justify renting that place.

The architectural firm HKS, located in Dallas, designed the facility. Money to pay for the construction came from everywhere. The NFL loaned the Cowboys $150 million, which they do when a team builds a new stadium. The city of Arlington where the stadium is located agreed to raise city taxes, hotel taxes and car rental taxes to help pay for the building. Those increases raised an additional $325 million to help with the cause. The Jones family paid the rest.

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The architectural design of the building has some unique features. Architectural glass was used at each end zone for the doors to exit the stadium, allowing each to have an open look and facilitate light to enter the building. There are two 300 foot arches that span the structure that have to be anchored to the ground. Seeing the mass of these gives you an idea of just how big this place is.

The new stadium also has 3,000 LCD TV’s throughout the building so fans don’t miss one second of the action. Yes, 3,000. It’s not hard to see why bigger is better for Dallas.

In the construction and architectural world, equipment is necessary to perform tasks. Heavy items needed lifted high in the air, thousands of yards of dirt need moved and leveled and raw materials need delivered on location. There is a tremendous need for equipment on a job site – and lots of it. Most construction companies have a lot of their own equipment, but not necessarily everything they need. Other companies need quite a few pieces of equipment, especially for bigger projects. This is where the equipment rental industry comes in.

The rented equipment on job sites in the United States makes up about 30% of the equipment that you see. The rest is owned by the subcontractors or general contractor. This is actually a very low percentage based on what the Britain does. The British use rented construction equipment 70% of the time on their job sites. They find it more practical and efficient.

There are many reasons why companies rent construction equipment. The first and most cost saving reason is they don’t have to maintain the equipment. Maintenance on construction equipment is very, very expensive. Especially when you get into the bigger heavier equipment, the cost to maintain is staggering. Since routine maintenance is vital to keep construction equipment working properly, companies can avoid both the cost and downtime of having the equipment worked on. When something does eventually go mechanically wrong with a piece of big equipment, its usually out of commission for days at a time.

The second reason companies rent is to avoid the initial investment. Many of the large ticket construction equipment items can be $60,000 -$80,000 on up to well over $100,000. Taking in to consideration that a construction outfit will have to have many pieces of equipment, the decision to rent becomes easier. By avoiding the initial large payout to buy the equipment outright, companies stay away from tying up cash.

The third and final reason companies rent equipment is the convenience factor – customer service. The construction rental companies not only maintain the equipment, they replace it immediately if there is a problem. They deliver it directly to the needed site. They come to the site periodically to check it. They give discounted prices to large customers and customers who use frequently and they pick it up and get it out of the customer’s way.

Its amazing that the percentage of companies that rent construction equipment is not much higher.

It takes a lot of things to come together to build a school, senior living facility or even a hotel or apartments. Minds have to come together to plan, design, alter, change, redesign, agree and finally approve the project. There are lots of folks involved in the job from start to finish. If one thing goes wrong in the process, it could mean disaster.

Usually an idea starts with an investor and developer combination. The investor may have the money to fund the project, and the developer may already own the land, or is waiting in the wing to prep the land for use. Sometimes the developer funds their own ideas and projects.

The next step is to hire an architect to design a visual depiction of what the owner wants. The owner can be a totally separate person from the investor and developer. The architect may have some leeway in what he or she can depict, but usually the owner has certain specifications that must be met. The specifications are first bound by code. As long as they are within those guidelines, they may have additional design specs that must be shown. The architect will then come up with drawings showing each stage and part of the project.

The plans are then sent to the city for approval. This process could be lengthy. The plans may get sent back for revisions based on code violations. Once these violations are fixed, the plans are then sent back to the city for approval.

Next, a GC or general contractor will be hired to run the project. They will be responsible for all of the sub-contractors that will be doing the work. Some GC’s self-perform certain tasks, like the excavation of dirt, or even concrete. Usually separate companies are hired and act as subs for these jobs. The GC will then pass out a set of plans to all of the subs that want to bid on the project. The subs present proposals to the GC in hopes of winning the job. Subs are chosen because of their quality of workmanship and the ability, based on their price, to allow the GC to stay within budget.

As this is happening, or sometimes even before, dates are set and a master timeline for the project is created. This timeline will be followed by the GC and subs to ensure they are all staying within budget and that the project is completed on time. Finally the project starts. Sometimes projects get behind schedule. It is the GC’s responsibility to get the subs to make up the time and get the project done, within code, and on time.

 

If you haven’t heard, the housing market is pretty bad right now. It has been for a while. On the buyer side, it is a great time to buy a house as interest rates are around 3.75%. The slump in house building does not just affect home builders. When building houses comes to a stand still, may companies suffer. Many home builders have gone out of business in the last four or five years, but other industries suffer as well.

One industry that suffers heavily is the concrete industry. Sure they still provide concrete for retail jobs, but think of what they lose. In any given development of homes there are driveways that are not being poured. Every home needs concrete flooring for the basement or a concrete slap. Think about all the side walks that line the development that no longer need concrete. This industry takes a big hit when home builders slow down, or even worse – stop.

Another industry that takes a beating is the lumber industry. Many houses, especially homes from the same builder who is cranking them out quickly are made with wood. Even brick homes have an interior structured by wood. Wood is also used to make the roof. Wood may mean less trees to cut down, but it also means less profit for companies.

Skilled labor also suffers because of the housing collapse. Many talented laborers are forced to find work when things get tough. Many of them have seen the ups and downs of construction. If the “new job” ends up working out for them, many of them never return to full-time work in their particular industry again. They hold resentment over the fact that they have something to offer and no one seems to want their services. They have probably thought about changing careers in the past, and this last drastic halt pushed them to act.

Let’s hope the housing boom happens once again. But, until then, we must realize that there are many industries and individuals that suffer when home builders stop building.

The U.S. Department of Energy states that energy-efficient windows can lower heating or cooling costs by 20 to 30%! The best way to lower heat loss through windows in to install energy efficient windows, or low-E windows. These windows  have been manufactured to prevent heat loss. Architectural glass in large buildings and glass windows in homes both pose a concern for heat loss and higher energy costs. These windows are usually more expensive than the traditional window. If that is not an option, there are other ways to winterize your windows to reduce the loss of heat during the winter months.

First, make sure and check window frames for air leaks. If you have to, light a candle and hold it in front of the window. Watch the flame for wavering or flickering. If the flame does, you have located an air leak. Secure loose frames to the building and recheck for air leaks. Next, check  the window for any loose panes. Use window caulking to seal any loose panes. Check storm windows to make sure they are  secure. Clean the window tracks to ensure they are snug. Caulk anywhere around the frame to prevent air from entering. Make sure you close the storm window completely.

Next, cover the outside of the windows with a heavier plastic to keep cold air from reaching the inside of the window. Staple the sheet of plastic over the outside leaving a few inches around the sides. Secure the edges with wooden strapping and staple  to the outside window frame. Trim off any excess plastic. Get some shrink plastic designed to apply to the inside of windows.  Apply the double-sided tape that comes with the packet to the perimeter of the window frame. Attach the plastic to the tape, beginning at the top and working your way down. Blow a hair dryer on the plastic and it will tighten up. Make sure all of the edges are held securely fastened.

For additional protection, install blinds or insulated shades to block cold air and prevent warm air from escaping.  Hang solar curtains to capture the sun’s rays during the day and prevent heat loss at night.

If you have ever been to Chicago you know how amazing the skyline is. Chicago has more tall buildings than one can imagine. If you have been downtown, you have probably seen the Willis Tower, formerly named the Sears Tower. It used to be the tallest building in the world until the Burj was constructed in Dubai. The Willis Tower now has a four foot glass balcony that jets out from the 103rd floor skydeck. WHAT?!!! That’s right, you heard me. It’s called “The Ledge”, and even some Chicago residents say they would never go up there.

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Picture from www.geekologie.com

“The Ledge” is 1,353 feet above ground and can hold an estimated five tons! Some have said it’s like walking on ice, others have raved about the view. One thing in for sure, the first step is the hardest.

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Picture from www.geekologie.com

The glass balcony was completed in 2009 and was designed by Skidmore, Owings and Merrill, the same architecture firm that designed the building. The balcony is made of 1.5 inch thick crystal clear, laminated glass panels. The entire box balcony hangs from a steel truss that rides on rails and can be retracted into the building for cleaning and maintenance. The glass was manufactured by a 120 year old local contractor MTH Industries. Each glass panel weighs 1,500 pounds and is tempered for extra durability.