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This year’s Tri-State Home Show launches at a challenging time for the real estate industry, but home builders say they are optimistic for both the market and the show’s attendance.
“Even if people are thinking about renovating instead of buying, they will come,” said Tim McClure, president of the Home Builders Association of Southern Tennessee. “Our booths are almost fully sold.”
The show provides a preview of the latest appliances, countertops, floor designs, masonry, exterior siding, windows, doors and other products for new and existing homes. The home show will be from Friday through Sunday at the Chattanooga Convention Center.
More than 400 booths have been sold to such vendors as landscapers, lighting stores, painters, electricians, sunroom builders, playground equipment providers and more, said Teresa Groves, executive officer of the homebuilders association, which organizes the annual show.
“Even if you’re not buying a home right now, you’ll want to see what’s new,” Mrs. Groves said.
Residential building permits in Hamilton County totaled 731 in the first three quarters of 2008, according to the most recent study by The Market Edge, a company that tracks construction. That’s down 41.2 percent from 1,244 permits two years ago.
Area Realtors sold 437 homes in December, up from 349 sales in November, according to the Chattanooga Association of Realtors. But December’s sales were down slightly from 481 sales a year ago.
But even if someone is not moving soon to another home, he or she may want to remodel an existing home, Mr. McClure said. A wide variety of subcontractors and product providers will be available in one location to discuss remodeling options.
Many of the vendors will offer discounts to people attending the home show, Mrs. Groves said.
Home & Lawn Care Services Inc. will offer 10 percent off landscaping services, said President Marty Hilliard. The company is at 6114 Dayton Blvd.
A homeowner doesn’t have to spend a lot of money to make a huge difference in the home’s exterior, and if he’s decided not to take a vacation because of the economy, he may consider creating a resortlike area in the backyard, Ms. Hilliard said.
“You can do some little things to increase your home’s value,” she said. “Landscaping is one of the best, and creates curb appeal.”
Centurion Stone is also participating in the home show. The company, at 500 W. 26th St., installs natural and manufactured stone, plus stucco produced by the Sto Corp., said Centurion owner Darryl Johnson. Centurion operates a showroom of stucco products, which is uncommon in this area, Mr. Johnson said.
Mr. Johnson said he’s not sure what the effect will be from this year’s home show, although in past years, the show has generated a lot of business. His company has adapted to lowered home construction by doing more remodeling work, he said.
The real estate market should start turning around this spring, said Mr. McClure, the developer of several subdivisions in the Soddy-Daisy area.
He said that he and another builder have sold four houses in his Barrington Pointe subdivision in the past month and have another pending sale. Record-low interest rates are starting to build momentum to lift sales, he said. And, spring is traditionally the busiest time for sales.
“Mortgages are in the 4 percent range,” Mr. McClure said. “I’ve never seen that in my 20 years of building.”
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