The higher a home’s value, the higher a homeowner’s equity. More money becomes available through home-equity loans when home equity increases.
MIAMI, FL (PRWEB) January 30, 2013
Unemployment in South Florida is shrinking steadily, if not spectacularly, boding well for housing-related industries in South Florida, the president of Venetian Builders, Inc., a Miami sunroom and screen enclosure installer, said today.
Realtor.com pegged Miami as the second-best market for housing recovery nationally in December, and it placed Fort Lauderdale 15th. Of the site’s top 25 recovering housing markets, 11 are in Florida.
“That’s a clear indication that Florida is recovering economically,” said Christopher Noe, president of Venetian Builders. Labor statistics released in January show that unemployment in Palm Beach County dipped to 8 percent in November. Unemployment also is trending downward in Broward and Miami-Dade, Noe said.
“While 8 percent certainly isn’t a healthy number - not the kind of number we all would like to see – it is the lowest level in Palm Beach County in four years, since a few months after the recession began,” Noe said.
Noe also saw reason for optimism in what the Florida Department of Economic Opportunity says has been positive annual job growth for 29 straight months.
Traditionally, Noe said, homeowners do more home improvements in the first couple of years after buying a house than after living there for a few years. That changed somewhat during the recession, when people began to stay longer in their homes, he said.
Venetian Builders installs custom-designed sunrooms, patio covers, patio enclosures and screened pool enclosures in West Palm Beach, Weston, Wellington, Davie, Fort Lauderdale, Miramar, Miami, Miami Gardens, Homestead and surrounding communities. Its residential business grew 85 percent last year.
As the sale of existing homes increases, so do home prices, Noe said. “Those are the reasons you see Miami and Fort Lauderdale on lists of recovering markets,” he said. “As more existing homes sell, and homes are on the market for shorter periods, home values increase.”
Home value is important to remodelers because it influences loan availability, Noe said. “The higher a home’s value, the higher a homeowner’s equity,” Noe explained. “More money becomes available through home-equity loans when home equity increases.”
Venetian Builders designs and builds in a wide range of styles and prices, Noe said. Venetian offers free, detailed estimates on all sunrooms and screened enclosures. It also offers shoppers a look at material choices and design options right at their door.
For more information, call Venetian Builders, 866-596-2427.