Alabama homeowners are finding they are in the same boat with businesses and consumers across the country in dealing with supply chain issues.
From extended delivery times for furniture and décor to long waits for new appliances and repair parts, homeowners may have money in hand to buy or renovate but fewer places to spend.
Long taken for granted, the global supply chain is bearing the blame for the ability of manufacturers, resellers and service providers to deliver products or services. HomeAdvisor.com cites factors such as the COVID-19 pandemic to the recent blockage of the Suez Canal in slowing down product availability and increasing prices.
Those conditions, coupled with increased demand, exposed supply chain weak links. While it’s tempting to focus on the causes, here are a few ideas for beating the supply chain blues.
In general, a wide array of products – including Christmas gifts and household supplies – may be harder to find until supply chain issues are resolved. Business Insider says experts suggest shopping early, buying from local retailers and even checking thrift stores as a solution. Local retailers include nearby chain stores where you can select from items in stock and available for pick up. Buying local also means, as much as possible, buying American-made goods where supply chain pressure has less impact. If you must order online, Business Insider recommends including multiple items in one shipment to diminish pressure on delivery services – especially as the holidays draw near. “Most of all,” the experts said, “don’t panic-buy goods and try to be patient.”
Home renovation projects are challenging under the best of circumstances, but Steve Cunningham, incoming chair of the National Association of Home Builders (NAHB) Remodelers, told Forbes Advisor that homeowners looking to remodel their kitchens are finding long waits for appliances manufactured overseas or made with overseas components. He suggests being flexible and choosing more than one appliance that could work instead of insisting on one brand or model. He recommended also looking into used opens, or “scratch and dent.” These are new items that may have a small blemish but still work, or were returned but are now discontinued and can’t be sold at full price.
Buying furniture can be especially frustrating if you’re trying to decorate around a time-sensitive event such as a holiday or new baby. While many large retailers are unwilling to sell floor samples, locally-owned shops are more likely to part with a nursery chair or sofa that’s been taking up floor space for months.
Forbes Advisor says that some Habitat for Humanity ReStore locations offer new furniture donated by retailers. Also, check social media marketplaces for new and gently-used pieces that could work. Last, but not least, look for local artisans who craft one-of-a-kind tables, chairs, and accent pieces.
The pandemic forced more people to spend time at home looking at their decorating choices and, as a result, many are looking to update beginning with new paint.
Realtor.com says two years of hurricanes and a severe February cold snap that crippled Texas and Louisiana power suppliers seriously damaged chemical processing plants that manufacture key ingredients of both interior and exterior house paints as well as foam for furniture. Reduced capacity, coupled with increased demand, equals limited supplies of your dream color.
Again, flexibility is the key. Many of the large home improvement stores have supplies of paint that were mixed by mistake and may be perfect for your space.
Contractors and service providers want nothing more than to deliver products and services in a timely manner. But supply shortages and high demand affect their ability to acquire and install everything from lumber and tile to windows and doors. Be prepared to accept and work with their realistic time frames for delivery and installation. In some cases, be prepared for contractors to pass along the higher prices they are paying to get materials from the manufacturer to the job site.
Contractors, tired of explaining delays, now advise clients to select and purchase all of the materials and fixtures ahead of time. By ordering materials and furnishings as early as possible, even if they have to sit in a warehouse or garage, you have a better chance of keeping a project on schedule and on budget.
You will likely also need an abundance of planning skills and patience. Federal Reserve chair Jerome Powell said recently that Americans should be prepared for the global supply chain to remain in crisis through 2022.
Realistic expectations, flexibility on product selections and a sharp eye for price trends will help you cope with kinks in the global supply chain.
The Alabama Association of REALTORS® (AAR) is the largest statewide organization of real estate professionals comprised of over 18,000 members from 24 boards and 1,200 real estate companies. United by adherence to a Code of Ethics, our members work as real estate professionals in the sale, lease, appraisal, management and development of residential, commercial, rural and resort properties throughout Alabama.
Real estate is more than an industry, a profession or a service. In Alabama, the real estate industry is essential to the state’s economic wellness and growth, and the numbers prove it. The real estate industry accounted for $33.8 billion – or 15% – of Alabama’s gross state product in 2020, according to a study by the National Association of Realtors® (NAR).
“The housing market is a driving force in our economy,” says the Federal Home Loan Mortgage Corporation (Freddie Mac). “It’s the thread that runs through all aspects of our local and national economies, from construction to manufacturing. Homeowners also tend to buy more goods and use more services in their communities, further benefiting the economy.”
Economic impact is clearly seen in the industry’s direct contributions to the state’s economy in key areas:
Weary students and their equally winter-worn parents look forward to March and a little break from early classes, homework, projects, and deadlines. The pandemic has added stresses like virtual learning, quarantines, and limited extracurricular activities. With restrictions and safety recommendations limiting long-distance trips, Alabama has perfect Sweet Home getaways for spring break 2021. From the mountains to the Gulf of Mexico, here’s a roadmap (and a few tips for sneaking in some fun ways to learn something new) for the perfect spring break journey within a few hours’ drive. (more…)
2020 was a record-breaking year for the U.S. housing market, and Alabama was no exception. Investment in the state generated a lot of attention from publications around the globe as a variety of Alabama destinations appear at the top of the list for booming markets.
Here are a few examples of Alabama destinations identified by industry leaders as ones to watch: (more…)
2020 was a record-breaking year for the U.S. housing market, and Alabama was no exception. Investment in the state generated a lot of attention from publications around the globe as a variety of Alabama destinations appear at the top of the list for booming markets.
Here are a few examples of Alabama destinations identified by industry leaders as ones to watch: (more…)
2020 was a record-breaking year for the U.S. housing market, and Alabama was no exception. Investment in the state generated a lot of attention from publications around the globe as a variety of Alabama destinations appear at the top of the list for booming markets.
Here are a few examples of Alabama destinations identified by industry leaders as ones to watch: (more…)
Whether it’s newlyweds trading apartments for their first home or veteran renters taking advantage of historically low interest rates, 2021 offers a home buying climate that may never be seen again.
Even though you likely know the strong arguments in favor of homeownership: investing for the future; building equity; tax benefits; cost stability; and that intangible pride of owning a home that is uniquely yours, it’s normal to have reservations.
For most Americans, purchasing a home is their largest financial transaction, so here is a 2021 look at the five best reasons to buy instead of rent.
Whether it’s newlyweds trading apartments for their first home or veteran renters taking advantage of historically low interest rates, 2021 offers a home buying climate that may never be seen again.
Even though you likely know the strong arguments in favor of homeownership: investing for the future; building equity; tax benefits; cost stability; and that intangible pride of owning a home that is uniquely yours, it’s normal to have reservations.
For most Americans, purchasing a home is their largest financial transaction, so here is a 2021 look at the five best reasons to buy instead of rent.
Whether it’s newlyweds trading apartments for their first home or veteran renters taking advantage of historically low interest rates, 2021 offers a home buying climate that may never be seen again.
Even though you likely know the strong arguments in favor of homeownership: investing for the future; building equity; tax benefits; cost stability; and that intangible pride of owning a home that is uniquely yours, it’s normal to have reservations.
For most Americans, purchasing a home is their largest financial transaction, so here is a 2021 look at the five best reasons to buy instead of rent.
Renewed by the Alabama Legislature in 2017, the Historic Tax Credit is a set-aside of $100 million in tax credits spread over five years (2018-2022) for the rehabilitation of historic properties throughout the state. The tax credit is split between urban and rural counties, with $60 million to urban counties and $40 million to rural counties.
“This tax credit helps breathe new life into once vibrant, historic locations that are now in various states of disrepair,” says Jeremy Walker, Alabama Realtors® chief executive officer. “The impact of this tax credit can be seen across the state with the revitalization of historic structures and entire sections of downtowns.”
The tax credit is overseen by the Historic Tax Credit Committee, composed of legislators and several heads of state government agencies and aided by the Alabama Historical Commission. The committee meets quarterly to approve and grade project applications. This year, the committee has met three times, approving original and supplemental requests for 20 projects, 10 urban and 10 rural, and is scheduled to meet again in December to consider additional applications.
The map below shows every location that has taken advantage of the tax credit to date:
Renewed by the Alabama Legislature in 2017, the Historic Tax Credit is a set-aside of $100 million in tax credits spread over five years (2018-2022) for the rehabilitation of historic properties throughout the state. The tax credit is split between urban and rural counties, with $60 million to urban counties and $40 million to rural counties.
“This tax credit helps breathe new life into once vibrant, historic locations that are now in various states of disrepair,” says Jeremy Walker, Alabama Realtors® chief executive officer. “The impact of this tax credit can be seen across the state with the revitalization of historic structures and entire sections of downtowns.”
The tax credit is overseen by the Historic Tax Credit Committee, composed of legislators and several heads of state government agencies and aided by the Alabama Historical Commission. The committee meets quarterly to approve and grade project applications. This year, the committee has met three times, approving original and supplemental requests for 20 projects, 10 urban and 10 rural, and is scheduled to meet again in December to consider additional applications.
The map below shows every location that has taken advantage of the tax credit to date:
Renewed by the Alabama Legislature in 2017, the Historic Tax Credit is a set-aside of $100 million in tax credits spread over five years (2018-2022) for the rehabilitation of historic properties throughout the state. The tax credit is split between urban and rural counties, with $60 million to urban counties and $40 million to rural counties.
“This tax credit helps breathe new life into once vibrant, historic locations that are now in various states of disrepair,” says Jeremy Walker, Alabama Realtors® chief executive officer. “The impact of this tax credit can be seen across the state with the revitalization of historic structures and entire sections of downtowns.”
The tax credit is overseen by the Historic Tax Credit Committee, composed of legislators and several heads of state government agencies and aided by the Alabama Historical Commission. The committee meets quarterly to approve and grade project applications. This year, the committee has met three times, approving original and supplemental requests for 20 projects, 10 urban and 10 rural, and is scheduled to meet again in December to consider additional applications.
The map below shows every location that has taken advantage of the tax credit to date:
Last week, the Alabama Attorney General’s Office announced a $60 million settlement with Terminix over its termite treatment practices in Mobile, Baldwin and Monroe Counties.
The settlement stems from Terminix’s business practices in coastal counties where they did not provide annual termite inspections as required in their contracts and then drastically increased annual premiums to get out of costly contracts.
“We applaud Attorney General Steve Marshall’s efforts in protecting Alabama homeowners against fraud and abuse,” says Jeremy Walker, Alabama Realtors® Chief Executive Officer. “Alabama homeowners across the gulf coast will feel the impact of this Terminix settlement.”
If you live in coastal Alabama and have hired Terminix for treatment over the past several years, this settlement could affect you. Consumers may be eligible for refunds and/or new services, including up to $650 from the Consumer Relief Fund, the re-treatment of their home at no cost by Terminix, new inspections, the repair of termite damage by Terminix, and potential reinstatement of lapsed policies at 2018 premium levels.
Last week, the Alabama Attorney General’s Office announced a $60 million settlement with Terminix over its termite treatment practices in Mobile, Baldwin and Monroe Counties.
The settlement stems from Terminix’s business practices in coastal counties where they did not provide annual termite inspections as required in their contracts and then drastically increased annual premiums to get out of costly contracts.
“We applaud Attorney General Steve Marshall’s efforts in protecting Alabama homeowners against fraud and abuse,” says Jeremy Walker, Alabama Realtors® Chief Executive Officer. “Alabama homeowners across the gulf coast will feel the impact of this Terminix settlement.”
If you live in coastal Alabama and have hired Terminix for treatment over the past several years, this settlement could affect you. Consumers may be eligible for refunds and/or new services, including up to $650 from the Consumer Relief Fund, the re-treatment of their home at no cost by Terminix, new inspections, the repair of termite damage by Terminix, and potential reinstatement of lapsed policies at 2018 premium levels.
Last week, the Alabama Attorney General’s Office announced a $60 million settlement with Terminix over its termite treatment practices in Mobile, Baldwin and Monroe Counties.
The settlement stems from Terminix’s business practices in coastal counties where they did not provide annual termite inspections as required in their contracts and then drastically increased annual premiums to get out of costly contracts.
“We applaud Attorney General Steve Marshall’s efforts in protecting Alabama homeowners against fraud and abuse,” says Jeremy Walker, Alabama Realtors® Chief Executive Officer. “Alabama homeowners across the gulf coast will feel the impact of this Terminix settlement.”
If you live in coastal Alabama and have hired Terminix for treatment over the past several years, this settlement could affect you. Consumers may be eligible for refunds and/or new services, including up to $650 from the Consumer Relief Fund, the re-treatment of their home at no cost by Terminix, new inspections, the repair of termite damage by Terminix, and potential reinstatement of lapsed policies at 2018 premium levels.
Now that it’s 2019, no longer does the term “Sweet Home Alabama” have to be just a famous Lynyrd Skynyrd song, or a Reese Witherspoon romantic comedy.
That’s because anyone who has always wanted to own a home of their own in Alabama now has a new tool to help them do that for the first time, or even the first time in a long while.
(more…)
Now that it’s 2019, no longer does the term “Sweet Home Alabama” have to be just a famous Lynyrd Skynyrd song, or a Reese Witherspoon romantic comedy.
That’s because anyone who has always wanted to own a home of their own in Alabama now has a new tool to help them do that for the first time, or even the first time in a long while.
(more…)
Now that it’s 2019, no longer does the term “Sweet Home Alabama” have to be just a famous Lynyrd Skynyrd song, or a Reese Witherspoon romantic comedy.
That’s because anyone who has always wanted to own a home of their own in Alabama now has a new tool to help them do that for the first time, or even the first time in a long while.
(more…)