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Housing Slump Affecting Radiant?

Paul Pollets
Paul Pollets Member Posts: 3,656
If the market falls,supporting a business from the service side only would be tough. In a temperate climate, the heating season is maybe 3 months. Other radiant contractors are lic. plumbers and do plumbing...we have the license but don't advertise as plumbers. Our service side is 15% of revenues, not nearly enough to keep the doors open.

It's like preparing for an earthquake....we all know it will happen, sooner rather than later. Not much we can do about it. Some families have "EQ kits" ready, just in case. I wonder who really has them? I'd bet not more than 10%. I've sold dozens of earthquake emergency gas shutoff valves within 90 days of a quake. After that, they're hard to sell...go figure.

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Comments

  • Jack Sweet
    Jack Sweet Member Posts: 14
    Housing slump affecting radiant business?

    I've been thinking about the real estate slowdown and it makes me wonder whether the hydronic business going to follow the housing slump or is it going to be resistant? Anybody anticipating hard times or are hydronics still full speed ahead?




  • Paul Pollets
    Paul Pollets Member Posts: 3,656
    Not in Seattle...

    Strongest radiant renovation/mod-con market I've ever seen.

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  • joel_19
    joel_19 Member Posts: 931
    Paul

    how is your construction market???? Here it is dead it does affect us as many of the guys who worked for firms doing builder work have all been layed off now they play in our sandbox or at least try to.

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  • Paul Pollets
    Paul Pollets Member Posts: 3,656
    The market...

    ...is exceptionally strong in Seattle. The real estate market has continued to be unaffected by anything, with a starter 2BR 11/2 Bath home going for $500K!! However, the local high-tech urban professionals want good heating systems. The renovation market and boiler replacement market seem stronger than new home construction, but ART does more whole-house heating renovations than new housing these days. Were also doing more solar DHW systems. I expect that to increase with more favorable tax credits.

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  • Jack Sweet
    Jack Sweet Member Posts: 14
    Seattle an exception?

    I've seen some reporting in the Seattle Times that would seem to indicate the Seattle area might be holding its own, at least for now. Are any of the contractors up there making any preparations for the "just in case" scenario of the national real estate trend reaching the area?
  • Josh M.
    Josh M. Member Posts: 360
    I second the Seattle market stronger than ever

    What I find interesting about the Seattle market is that I have never even crossed paths with Paul (on a bid that is). We are only bidding about 25% of the projects we get asked for quotes on.

    I think people here in Seattle are very environmentally conscience, and are willing to make the investment in an enduring home.

    Our clients range from fortune 500 CEO's to the struggling musician. I think Paul summed it up though. With starter homes in the half a million dollar range, $10-15 a square on a heating system is a bargain.
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