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Chinese Construction Machinery Industry Began to Boom in Q1 of 2009 while the Export is still Grim

Tuesday, September 7th, 2010

Chinese Construction Machinery Industry Began to Boom in Q1 of 2009 while the Export is still Grim

In the first quarter of 2009, the newly added fixed asset investments in China reached to 91.8 billion USD, up by more than 50% year on year, propelling the development of the industries related to the infrastructure construction. Among the various infrastructure constructions, the transportation construction became the biggest bright spot. According to the incomplete statistics, the investment scale in the newly started railways, highways and ports would exceed 40 billion USD in the first quarter of 2009, which was closely related to the earth and stone machinery, lifting machinery, piling machinery and concrete mixer machinery.

Only in February 2009, China had finished 2.93 billion USD investments in the railway construction in a single month, up by over 200% year on year. The investments in the highways were finished 4.6 billion USD in February, sharp up by 70% YOY.

Under the influences of international financial crisis, the growth speed of Chinese economy begins to slow down. However, there are still huge demands and potential demands for the construction machinery in Chinese domestic market. In the 4-trillion-Yuan investment plan issued by Chinese government, 75% projects have more or less relationships with the construction machinery. It is roughly estimated that the investment plan will drive 20-biilion-USD domestic construction machinery market.

On the night of 26th April 2009, SANY Heavy Industry Co., Ltd issued the first quarter financial statement, which said that the company realized the operation revenues of 2.847 billion Yuan in the first quarter of 2009, up by 6.9% year on year; the net profits subject to the parent company were 236 million Yuan, down by 21.8% year on year. The basic earnings per share were 0.1589 Yuan.

On 29th April 2009, Xuzhou Construction Machinery Group issued the first quarter financial statement of 2009. In the reporting period, the operation revenues totaled 735 million Yuan, down by 15.87% year on year. The net losses were about 8.6 million Yuan, decreased by 36% compared with 13.42 million Yuan losses in 2008, equivalent to a net loss of 0.016 Yuan per share.

On 29th April 2009, Changsha Zoomlion Heavy Industry Science & Technology Development Co., Ltd also announced their financial statement in the first quarter of 2009; the company realized the operation revenues of 3.517 billion Yuan, up by 38.65% year on year and the net profits of 301 million Yuan. With the influences of the operation cost increases and so on, the net profits of the company were cut down by 17.72% year on year and the earnings per share were 0.1977 Yuan, down by 58.87%.

On 29th April 2009, Guangxi Liugong Machinery Co., Ltd made their financial statement publicity. In the reporting period, the company realized the total operation revenues of 2.209 billion Yuan, reduced by 10.16% YOY, 151 million Yuan of net profits, up by 8.57% YOY. Marked improvement had been achieved compared with the net losses of 49 million Yuan in the fourth quarter of 2008, realizing 0.32Yuan earnings per share.

Most construction machinery products produced in China belong to the medium and low quality, but certain advantageous in the cost performance. Under the circumstances of the depressed global construction machinery market, there are comparatively more choice opportunities for Chinese products.

From January to February 2009, the import and export amounts in Chinese construction machinery industry were 1.88 billion USD, 26 percent less than the previous year, in which the import amounts were 660 million Yuan, down by 21.5% over the previous year; the export amounts were 1.21 billion USD, reduced by 29.2% compared with last year, 550 million USD trade surplus.

From January to February 2009, China accumulatively imported 380 million USD of the complete construction machinery, down by 19% compared with 2008, accounting for 57% of the total import amounts; 290 million USD were spent on the component imports, decreased by 23% over the previous year, accounting for 43% of the total import amounts. The crawler digger imports cost 120 million USD, reduced by 41% compared with 2008, accounting for 32% of the complete machinery imports.

In the field of exports, China totally exported 770 million USD of the construction machinery, down by 32.5% compared with 2008, accounting for 645 of the total export amounts; the export amounts of the components were dropped by 22.8% to about 440 million USD over the previous year, accounting for 36% of the total export amounts.

However, Chinese construction machinery manufacturers over relied on the export market, especially the developing countries. The profits are comparatively low. It is quite difficult for Chinese construction machinery products to enter the foreign high-quality market because of the existence of the component supply, product reliability and service problems.

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Get more information, please visit http://www.shcri.com/reportdetail.asp?id=274

Based on the database, Interviews and research methods from China Research and Intelligence, CRI analyzes the development and opportunities in this industry clearly.

Tags: 2009, Began, Boom, Chinese, Construction, Export, Grim, Industry, Machinery, still
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How to Select the Best Construction Estimating Software Solution for your Construction Business

Monday, September 6th, 2010

How to Select the Best Construction Estimating Software Solution for your Construction Business

When you first investigate computer based estimating software, you will find that there are many software vendors selling solutions which range from a few hundred dollars to many thousands of dollars. In fact some estimating software packages can cost upwards of 15-20 thousand dollars and in some cases, as high as 0,000. That is quite a range of price.

Often, estimating software is selected based upon the cost, features, functions, reviews, word of mouth, or other avenues. In many cases, potential customers do not consider how they are doing their estimating processes today, what they would like to improve, how automation can, will, or will not help them, and what an estimating system should do for their business.

In many cases, the construction professional will try and find a way to adapt their business to the way a software package operates, rather then determine the best way to adapt the software to enhance their current way of doing business. In many cases estimating software may not be flexible enough to allow a construction professional to “customize” the software to work in conjunction with the best business practices of the company.

An example of this is the cost information which is provided by many of the more advanced construction estimating software vendors in the market. Often, you will see software vendors either providing their own cost data information (often on a monthly subscription basis), or they will resell industry cost database information such as RS Means or Craftsman.

This is a good baseline for starting to use a construction estimating software solution, but all too often, construction professionals will begin to find that the data is not accurate for their specific geographic locations of work, their local distributors have different prices than what are provided in the software costbook database provided by the vendor and costbook updates provide by the software vendor are not timely enough to reflect local price changes in materials (labor prices are usually pretty consistent over time).

As a result, the construction professional is not satisfied with the software vendor’s estimating solution, the adoption of the software will diminish, and the construction professional will either begin to more and more get frustrated while searching for another software solutions or revert back to their original estimating process. Often this is either a basic spreadsheet or paper and pencil.

This creates an interesting buzz in the marketplace and on construction forums where construction professionals will compare, contrast or complain about various estimating software packages because they do not do the job they were expecting, are not reliable, and in many cases are down right inaccurate…enough so that the estimator no longer has any faith in the results provided by the estimating software. At best, the software is either used for “guesstimates” or becomes “shelfware”.

The problem with this perspective is that the estimating software is perceived as “bad”. In reality, the software might be just fine (operationally), but it is the cost information and cost data which is not correct for the particular construction professional. Also, in many cases, software vendors will “lock down” the cost data either because they make money off of the data or do not want the customer to change the information because they have specific features and functions in the software which are dependent upon the information contained in the cost data (such as estimating assemblies or multi hierarchical costbook databases). This creates a very inflexible solution which requires the construction professional to either adapt to the software or simply decide not to use the software.

The best estimating software solutions should allow the construction professional to completely leverage existing industry database cost information as well as provide the ability for the construction professional to create their own costbook database of information and even combine the two. This should be extended to have the ability to create as many costbook databases as the construction professional would like to accommodate multiple types of estimating situations.

A quick word on the estimating process. The most accurate method of estimating is to use the Unit Cost Method of estimating. This means that each material item in a costbook database would have at least a material and labor cost. Even better if the item provides for the ability to track subcontract and equipment costs and well as labor rates. These costs are then defined for the item at the “unit of measure”.

So for example, you could be working on reinforcing steel in a foundation and putting in 1/4″ diameter, #2 rebar. This item is typically categorized by the LB (foot pound) as the Unit of Measure. There might be a material cost per LB of .78 and a labor charge of .76 to install the rebar for each 1 LB. The Unit Cost Method of estimating would take the material and labor costs and multiply these values by the total quantity (by LB) required for the job. This would give you the total cost of the work for this item in your estimate. You would do this for every item in your estimate. Some people might say this is very time consuming, but this is the most accurate way of estimating the work.

In addition, some construction professionals might say that the material and labor costs are inaccurate. These prices were taken from a national industry costbook database, and in fact, could very well be inaccurate. A good software estimating program would allow you the ability to change any information about this item required to match your own labor and material costs. One important consideration for this is that you should base your current estimates not only on an updated costbook database, but also on the results from historical estimating. This way, you can see if in fact you made any profit from your last job and factor in this experience in terms of changing the prices of items to reflect your profit margin. This is in addition to including standard profit and overhead costs in your jobs.

Some construction professionals will say that all of this cost database construction and pricing definition is very time consuming, but in reality, we have found that most GC’s would require from 300-800 items in a customized costbook database. This would take care of about 90-95% of the typical estimating requirements of the construction professional. This is a far cry from the 30,000-60,000 items which are typical of an industry costbook database….and much easier to update and manage.

So the point of this article is to tell you that the first thing you should consider when looking for an estimating system is the ability to create your own costbook database, and be able to leverage existing industry costbook information to do that. In addition, this should be an easy process and be able to leverage all the capabilities of the estimating software, such as reports or other functions. This way, you will be able to find an estimating software solution which fits your business rather than trying to fit your business into the methods and practices of the estimating system software!

Mark Kennedy VP of Marketing Bid4Build

Bid4Build Enterprises, LLC. has been a leading supplier of construction software for residential and commercial construction since 1985. Its flagship product, Bid4Build Version 3.0 is a construction software solution for construction estimating, job costing and scheduling. Bid4Build Enterprises, LLC. is a Pennsylvania based company.

Tags: Best, Business, Construction, Estimating, Select, Software, Solution
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Make your Business Profitable With Used Construction Equipment

Sunday, September 5th, 2010

Make your Business Profitable With Used Construction Equipment

The construction business is experiencing a boom once again, after some years of slow growth. This naturally turns the construction business into a very profitable one, as long as there is a high demand in this industry. But high demand is just one factor. As you must have guessed, like many other industries, the construction industry is very competitive, and the more acerb the competition is, the more stringent are the demands on the contractors’ side to make their offerings appealing. The construction equipment that contractors need, also known as engineering vehicles, sometimes require a considerable financial effort. Buying new construction equipment is an option only for those businesses that can come up with a lot of cash. Many construction businesses that lack considerable reserves of purchase used construction equipment. While leasing or renting the equipment seems like a viable alternative arrangement, the total costs may not be exactly satisfactory, and, as you well know, the total costs have to be covered by the price that your client will eventually pay, in order for you to make a profit. It goes without saying that the higher the prices, the lesser chances of you being on the list of most sought after contractors.

Buying used construction equipment is a good alternative. It is definitely more cost-effective than all your other options. If you consider the fact that you are very likely to use this construction equipment over and over again, renting can be excluded from the option list, if you want your business to be really profitable. Moreover, you can usually negotiate the price of the used construction equipment possibly translating into a very profitable deal.

When you make are bidding for a certain job and try to come up with an estimated cost, all your expenses need to be covered. The more expense you have to include in this estimated cost, the higher the price estimate needs to be. But when you own the used construction equipment, there is usually no need for additional costs, such as the monthly expense of leasing or renting. This is a very good reason why you should consider buying used construction equipment.

If you have some restraints when it comes to buying construction equipment that has been used before, you can rest assured. Surely, you must know a lot about construction equipment, so you should have no problem telling whether there is something wrong with the equipment. Even if you don’t know much, you can still make an informed choice, by learning some tips and tricks regarding the purchasing of used construction equipment.

For instance, purchasing a used crane can turn out to be a very good investment, but, once again, you have to make a careful selection and an educated choice about the crane. Observing the smoothness of the crane’s extension, checking the crane’s rotation, checking mounting bolts on the crane base, checking outriggers and packing sealers around the hydraulic cylinders are just some of the steps you should take before purchasing a used crane. Careful observation can save you some thousands of dollars in potential repairs.

All in all, you can always purchase new construction equipment if you can afford it. While there are several options for purchasing construction equipment, you should give some serious thought to all the options, and you will probably come to realize that buying used construction equipment is the best solution for your business.

For more resources about Used construction equipment or even about crane please review this page http://www.machineryzone.com

Construction Accidents ? an Unfortunate Product of the Building Boom

Saturday, September 4th, 2010

Construction Accidents ? an Unfortunate Product of the Building Boom

The early part of the 20th Century saw the United States enjoy an unprecedented building boom, both for residential and commercial properties. This was obviously a benefit to the overall economy, as more people own homes and commercial property now than ever before. Owning property is one of the safest and most reliable investments available for many reasons, but there was also an upswing in one unfortunate variable in regards to this boom – a distinct rise in construction accidents.

Below is a look at some of the construction accidents that have occurred with alarming frequency in recent years, but you also need to understand that if you’ve been injured in a construction accident, you need to contact a construction injury lawyer as soon as possible to schedule an initial consultation.

Construction Falls

Statistics compiled by the government show that on average, more than 1,200 construction workers are killed every year in the United States, and this industry also leads the way in terms of workplace injuries. The same statistical compilation that was formulated by the Bureau of Labor Statistics showed that the most common type of construction worker injury is the fall, and that makes sense.

Construction workers are required to climb upon structures that are not stable in order to complete certain aspects of a building job, and certain situations and occurrences lead to a construction worker falling from extremely dangerous heights. This also falls in line with the fact that the most common construction worker injury is to the back, as the back is what normally takes the brunt of a fall.

Scaffolding Worker Injury

Another extremely common construction worker injury is the scaffolding worker injury, and this, too, was one of the leading causes of missed work time and serious injuries within the construction industry. Scaffolding is often built with only a temporary means of access in mind, and as a result these structures are often unstable in nature. Therefore, the types of construction accidents that can occur include falling from the scaffolding, head injuries from falling debris from the top of the scaffolding and a plethora of “other” injuries that result from the collapse of the scaffolding.

Welding Injury

Every year, more than 10,000 people are injured as a result of a welding accident. Welding is an inherently hazardous duty to perform, and as you may guess, the leading type of construction injuries that occur as a result of welding is an injury to the eye or eyes. Welding guns produce heat that tops 1,000 degrees, which means that this flame or heat causes serious injuries when making contact with the eyes.

Of course, there are many other causes and types of construction worker injuries. If you have been injured on the job, you may have the right to file a construction accident lawsuit. Contact a construction injury lawyer today to get the process of protecting and enforcing your rights started.

Learn more about construction worker injury or if you have been injured in a construction accident
then visit www.resource4constructionsiteaccidents.com

This article may be freely reprinted as long as this resource box is included and all links stay intact as hyperlinks.

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Tags: Accidents, Boom, Building, Construction, Product, Unfortunate
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Construction Accidents – One Of The Unfortunate Products Of The Building Boom

Friday, September 3rd, 2010

Construction Accidents – One Of The Unfortunate Products Of The Building Boom

Construction Falls

Scaffolding Worker Injury

Welding Injury

Learn more about construction site accidents at www.resource4constructionsiteaccidents.com

Building Constructions: your Route to a Dream House

Thursday, September 2nd, 2010

Building Constructions: your Route to a Dream House

Home is the place where it feels just right to walk around without shoes. It is the place with which we associate feelings of safety, security, comfort and a sense of belonging, among many other things. So we try to put all our resources towards building a house that fulfills all our requirements, in fact this is one way of realizing our dreams. Building constructions is one industry which is thriving these days; you will find that lots of buildings are being constructed and invariably you will find that most people are trying to build their dream house. With the revolution that is happening in the field of science and technology, things have changed for the better for all of us. The building construction industry earlier, had limited scope of operating, but now with easy access to money, things have changed for the better. So, today you will come across many people looking for a professional, who works in the building constructions industry, to build their dream house.

When we were kids, all of us had a dream of building our dream house; we had in our mind all that we want in our dream house. The art classes that we used to attend when we were kids, was one a place where we used to give a shape, size and color to all our dreams about the perfect house, where we would like to dwell in, sometime in life when we have the capacity. So when we finally have all the resources in place to construct our dream house, we need the services of an efficient building construction professional for this. All of us know that it is important to find out the capability of any professional before you hire their services for your work. So there is no exception to this in the case of building construction professionals.

We want the best in our house, so we put in all the efforts possible, to make sure that we make the house just as we want. There are lots of things that are associated with the building of a house and most owners insist on enlisting the services of a vaastu shastra expert or a feng shui expert, before constructing the house. These are traditional methods that help in finding out about suitable directions of various rooms, which are related to the construction of a building. In fact most of the building constructions professionals these days, insist on having an expert onboard to help out clients who want to adopt all this practices while constructing their dream house.

Building constructions may seem to be a very expensive domain for the ordinary people, but it is not so. Today we have several financing facilities available in the form of loans. This makes the whole process of constructing a house with the help of building constructing officials, pretty easy. Home loans and house construction loans are available with many loan providing agencies and getting the loan is quite easy. In today’s context, building a house is relatively easy, you just need to make sure that you are dealing with efficient building constructions officials, if you want to build your dream house just the way you have always wanted.

Amit Jain is a renowned real estate consultant and runs a successful firm. If you have any queries about Puri constructions, Building constructions and Commercial constructions, you can visit www.puriconstructions.com

Tags: Building, Constructions, Dream, House, Route
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Project Management for Construction

Wednesday, September 1st, 2010

Project Management for Construction

Excellent project management for construction engagements is crucial for any new building or renovation, especially considering the growing complexity of major construction projects and construction-related laws. For these reasons, almost all positions opening up for construction management jobs require not only a specialized degree, but a good deal of experience in the industry.

Although it was not always the case, there are many universities that now offer construction management courses as well as degrees. In fact, there even a number of accredited online universities that offer project management for construction degrees. An online degree in construction management can be specialized in a number of ways and is one way to learn the essential skills you need to know for jobs in construction management that can be difficult to learn during internships or apprenticeships on-site.

Construction management jobs take on a variety of responsibilities. Oftentimes managers in these roles are ultimately responsible for every aspect of the construction project. This includes managing all employees and contractors, all equipment used and the project budget. That is why is important to choose a degree in

project management for construction that teaches you a broad skill-set.

Some of the degree coursework that can give you an edge in the job market includes training on the latest software programs and technologies used in the industry and classes on any of the following topics: building codes and standards, contract administration, accounting, financial management, value analysis and project control and management.

It is ideal if you can find a university that will help place its project management for construction students into internships or apprenticeships during the degree program. This will give you the chance to learn a little bit about every aspect of construction and how you can effectively manage the employees and contractors you will need to work with, including architects, civil engineers and day laborers. This type of hands-on experience is exactly what most employers are looking for, and can oftentimes lead to full-time positions once you have graduated with your degree.

Although project management for construction can be a challenging career path, there are many reasons that it is worth the effort. There are more and more project management for construction jobs being filled every year, and according to the National Association of Colleges and Employers, the average salary for project management for construction positions averaged ,500 in 2002. These great salaries are also often accompanied by health benefits, bonuses and the use of company-owned vehicles. All of these factors indicate it is a great career to aim for that can be just as rewarding as it is challenging.

Anne Harvester works as assistant to a project manager for construction projects. She discusses what goes into project management for construction, how to choose a construction management degree, and what jobs in construction management are available.

Tags: Construction, Management, Project
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Fatality of Construction Accidents

Tuesday, August 31st, 2010

Fatality of Construction Accidents

The following are some statistics from the U.S. Department of Labor Bureau of Labor Statistics on safety and on-the-job injuries in the construction industry:

* One of every five workplace fatalities is a construction worker.

* There were 1,225 fatal occupational injuries in construction in 2001, excluding fatalities on September 11. Also in 2001, there were 481,400 nonfatal injuries and illnesses in construction. Incidence rates for nonfatal injuries and illnesses were 7.9 per 100 full-time equivalent workers in construction, and 5.7 per 100 full-time equivalent workers in all private industry in 2001.

* Because only about 10% of construction companies employ more than 20 workers, the great majority have no formal job safety regulations or programs in place.

* In 1992, the “lost-workday” rate for workers in the construction industry was 5.7 per every 100 full-time workers. The lost-workday due to injury rate in the construction industry is greater than in any other industry.

* Nationwide, about 15% of workers’ compensation costs are attributable to injuries in the construction industry.

Almost every injury that construction workers suffer could makes the worker eligible for workers compensation rights. Legal actions against people with in authority positions such as general contractors, construction managers, equipment manufacturers, or subcontractors can supplement the constrained rights. The individual circumstances of the accident and how the complicated laws will be applied to it will affect these rights.

For example, in most construction projects, many different contractors are involved. If any contractor other than the direct employer has responsibility for the injuries, full damages can be recovered. Likewise, if a defective tool, machine, or other product causes injury, an injured worker can be fully compensated.

Construction workers have a right to a safe workplace according to OSHA, the Federal governing body for occupational safety and health. If a workplace hazard exists and action is not taken quickly, an employee should contact an OSHA area office or state office via a written complaint. If the OSHA or state office determines that there are reasonable grounds for believing that a violation or danger exists, the office will conduct an inspection. An OSHA compliance officer may have a workers’ representative conduct the inspection with them, as it is their right. The representative is chosen by a union representative, if there is one, or by the employees. At no time may the workers’ representative be chosen by the employer. The inspector may conduct a comprehensive inspection of the entire workplace or a partial inspection limited to certain areas or aspects of the operation. At the end of the inspection, the OSHA inspector will meet with the employer and the employee representatives to discuss the abatement of any hazards that may have been found. These need to be corrected or serious penalties and legal liabilities may arise.

For your source for everything legal on the web, visit LegalView.com. At http://www.legalview.com , you can gain admission to an entire legal database that includes an attorney referral service available to you at no cost. Visitors who use this service can use the resources to find information on a variety of legal issues and contact expert attorneys such as a traumatic brain injury lawyer or a mesothelioma attorney. Visitors can also find construction accident lawyers at http://construction.legalview.com/ .

Construction-site Injuries Can be Catastrophic

Monday, August 30th, 2010

Construction-site Injuries Can be Catastrophic

Construction site injuries vary greatly based on the type of work being performed and the circumstances surrounding the environment and the individual affected. Although many construction injuries are minor, serious consequences must not be overlooked. Traumatic injuries and even death may result form the negligence of coworkers, the failure to follow established safety procedures, or defective equipment.

The following is a lengthy list of the possible injuries construction workers face following construction site accidents:

· Head injury: Unfortunately, hard hats are not barriers to all forms of head injuries that can happen at a construction site. Traumatic brain injury (TBI), closed head injury, concussion and coma may result from a variety of hazardous situations at a work site. These conditions can lead to long-term complications and death.

· Closed head injury: This occurs when the head sustains a blunt force by striking against an object. Most head injuries are closed head injuries. A concussion is a type of closed head injury that is very common amongst construction workers.

· Concussion: A concussion is caused by a blow to the head that results in a temporary loss of awareness. When a concussion occurs, it is due to cerebrospinal fluid being unable to cushion the brain from the skull during impact. Some concussions have serious long-term effects, and the risk for long-term effects increases in individuals who have suffered from multiple concussions.

· Spinal cord injuries: The spinal cord carries sensory signals and motor control to most of the skeletal muscles in the body, and almost every voluntary muscle in the body below the head relies on the spinal cord for control. An injury to the spinal cord usually has severe repercussions on the rest of the body. A spinal cord injury can be a life-altering event for the injured and his/her family as round-the-clock care may be necessary after a spinal cord injury.

· Paralysis: Paralysis occurs when all muscle function is lost for one or more muscle groups. This can be caused by a spinal cord injury, and depending on the type of injury, paralysis may affect just a small part of the body or the entire body. Any form of paralysis will be disruptive to one’s life. Routines that were once simple will be incredibly difficult, and your whole quality of life will change if you are paralyzed in a construction accident.

· Severe cuts: With a variety of tools being used in a busy environment, it is not surprising that serious cuts are common amongst construction workers. Open gashes can become infected and lead to more serious consequences.

· Burns: Burn injuries are a very real risk at construction sites because of huge amounts of heated water, steam, chemicals and electricity at construction sites. Burns can cause serious long-term consequences, and burn injuries are both slow to heal and extremely painful, with the pain lasting throughout the healing process and for years to follow. Burn survivors often require extensive medical care, and families of burn victims must often do battle with a sudden unexpected injury that has forever changed their lives.

· Loss of limb: Suffering a loss of limb is a tragedy for anyone, but for construction workers who rely on their limbs for their livelihood, a loss of limb is particularly devastating.

· Amputations: Amputations are sometimes necessary following an accident to preserve life. As a surgical measure, amputation controls pain or a disease process and is a preventative measure.

· Dislocations: Dislocations are a risk inherent in many forms of physical work such as construction and often cause damage to ligaments. Dislocations may require physical manipulation to return the bones to their proper position. Healing from a dislocation can cause construction workers to miss a great deal of work.

· Broken bones: Broken bones are not only painful but take a long time to heal and require time off from work.

· Blindness: Construction accidents can result in vision loss or complete blindness. Obviously, the repercussions of losing one’s sight are huge and require you to leave work indefinitely in most cases.

If you or a loved one has been injured or killed at a construction-site accident in Phoenix or anywhere in Arizona, please contact the construction accident lawyers at Snyder & Wenner, P.C. today to schedule your initial consultation.

Investing Through New Construction

Sunday, August 29th, 2010

Investing Through New Construction

If you think that because the residential real estate economy has gone bust that there is no way to make money in this market right now, think again. There are thousands of upscale neighborhoods across the United States in which new construction of homes was halted because of the collapse of the real estate market. Most of the homes that were under construction had been purchased by real estate investors who hoped to flip the home upon completion to a new buyer and make a sizable profit.

When it became apparent that the majority of people who were commissioning new construction homes to be built were investors and there were not a lot of buyers, the entire market crashed. Investors lost money and many developers went out of business. They had a lot more homes in their new subdivision for sale than there were buyers. On top of that, they owed banks money for financing the subdivision. Pretty soon, banks took over these areas, which are located throughout the United States and particularly in Florida, California and Nevada. These areas were booming in the 1990s and then crashed.

There are many homes in these upscale neighborhoods that are in the process of construction. When the builder went bankrupt, the construction was halted. Banks took over but have no interest in getting these properties constructed. They are simply looking to get their money back.

If you know about new construction or are in the trades, you can buy one of these partially constructed homes for a fraction of their cost and finish the construction yourself. You have to be careful, though, that you understand what you are getting into.

You will have to know about building codes and make sure that the home is completed in accordance with the codes. In addition, you should also be aware that some municipalities have ordinances that require that construction be completed within a specified amount of time. If the house has not met that specification, there may be fines associated with the property. A title search will allow you to discover if there are any fines that have been levied against the property from the municipality for non completion of construction.

In addition to doing as much of the work on your own, you can also find labor relatively inexpensively throughout the United States. The trades were hit hard during this recession and there are many people who are experienced in all aspects of home building that are out of work. Many small trade companies have even gone out of business. You can find cheap labor to help you finish the construction of your house.

Buying new construction is usually a way to make money in real estate during any type of market. But even in this recession, you can buy partially constructed homes, finish them and then get ready to sell. Although you may make a small profit selling the home after construction is completed, you can make an even larger profit if you look for the long term investment and wait until the market turns around.

Want to make money investing in real estate? Get immediate access to real world strategies, tactics and tips for successful – and profitable – real estate investing – not outdated ideas from the 80s! Get 2.90 In FREE Real Estate Investing Training here -> http://www.RealEstateRant.net

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