It’s not enough these days to have good credit and a steady job, as lenders are increasingly picky when it comes to loan approvals. Here’s how to make the best impression.

Statistical information is quoted from “Facts and Trends” pub. July 2009.

Home sales in Manatee County improve dramatically. The number of homes on market in Manatee County has been reduced from 6221 in April 2008 to 3035 in June 2009. Additionally, pending sales have increased each month since November 2008. There were 200 pending sales in November 2008 and 471 pending sales in June 2009. This represents a 135% increase in pending sales over the past 8 months. Certainly a good sign.- Blaise Bright

Last December, John Cannon Homes, a luxury custom builder based in Tampa, Fla., that closes between 90 and 100 homes in a normal year, launched a remodeling program that, in the ensuing seven months, “has been working out extremely well,” says T.J. Nutter, this builder’s COO. (Remodeling is one of several new businesses that John Cannon Homes has expanded into during the downturn. It now also does commercial work, fixes up and maintains foreclosed homes, and operates a full-service interior design firm.)

To drum up interest in its remodeling services, John Cannon solicits past customers, and Nutter says his estimators go out on three appointments per week. Unlike most builders that get into remodeling, John Cannon Homes offers its services to anyone, although a client who didn’t buy a house from the company has to be referred to its remodeling services by someone who did.

Nutter says his company hasn’t needed to make many changes for remodeling. Its accounts receivables and payables are the same, and it’s been using some of the same subcontractors that build its homes. (John Cannon is a certified, licensed Class A contractor in Florida, so it can build any kind of structure within the state.) “We interview the trades and take their temperature about doing remodeling,” says Nutter. (The subs must be fully insured and follow OSHA’s jobsite safety requirements.) He adds that the subs’ contracts and draw schedules had to be adjusted for remodeling jobs.

The remodeling jobs that John Cannon Homes takes on include kitchens, baths, room additions, as well as smaller repair projects. In a year when its closings are expected to fall to 75 units and new-home sales have been off by more than 40 percent, Nutter says remodeling has proven to be “a reliable revenue stream” that is expected to produce between $3 million and $5 million in sales from 20 to 30 projects. He also says that remodeling “is here to stay” at John Cannon Homes, even when home building gets back on track.

What are YOU waiting for?

At $99.00 per sq. ft., it’s become more affordable to build a new home than to purchase a used home. Compare our pricing to resales in the existing market, then make your appointment to learn about the advantages of building a new John Cannon Home!

Call (941) 361-1300 to meet with a design/build specialist today.