Home equity is the key to borrowing for improvements. When home sales rise, so do prices, and that pushes up value – and the equity homeowners have in their properties.
MIAMI, FL (PRWEB) June 26, 2013
The President of Venetian Builders, Inc., Miami, expressed confidence today that continued demand for South Florida homes will benefit potential customers looking to add a sunroom, patio cover or screen enclosure, or to purchase other home improvements.
“Home equity is the key to borrowing for improvements,” said Chris Noe, president of Venetian, which designs and installs aluminum sunroom additions, patio roofs and pool screns. “When home sales rise, so do prices, and that pushes up value – and the equity homeowners have in their properties.”
Home-equity loans are a prime source of financing for home expansion, Noe said.
PropertyWire.com reported this month that the Miami-Dade real estate market has experienced 16 straight months of residential sales growth.
Miamire.com, the website of the Miami Association of Realtors, cited a first-quarter increase of 14.8 percent in median sales price of single-family homes compared with the same quarter last year. Nationally, it reported, the increase was just 11.3 percent. The Miami-Dade market is especially short of affordable homes, miamire.com said.
“That means owners of smaller, affordable homes will be more likely to qualify for the loan they need to facilitate expansion,” Noe said. “That puts Venetian in a good place. Because we custom-design to suit any market, whether the addition is big or small, and no matter the budget, we like our position in this market.
“We don’t try to sell an ideal Miramar sunroom or patio room as a perfect Jupiter solarium or Davie outdoor enclosure. They’re different markets, and we offer different products, so we’re in position to help a wide range of homeowners with different styles of homes.”
Noe said Venetian residential sales so far in 2013 are ahead of 2012 by 150 percent in the four counties it serves: Palm Beach, Broward, Miami-Dade and Monroe.
“If the economy keeps improving, and if lenders make money more readily available to homeowners, we believe that figure will only grow,” Noe said.
Expanding remains cheaper than moving because it requires no real estate sales fee or moving fee, Noe said. “And aluminum structures, because of the technology involved and the number of inspections required, build for less money in a shorter time than rooms built by traditional methods,” Noe said. “That’s appealing to customers.”
Venetian Builders installs sun rooms, patio roofs and swimming pool domes in West Palm Beach, Fort Lauderdale, Miami, and the Keys, and all communities in between and nearby.
For information on free at-home consultations and no-cost estimates, call 866-596-2427.