Page 16 - Stuart Exposure - December '21

Page 16, Stuart Exposure

real estate

Treasure Coast Another thing that can lower prices is decreased
Real Estate Report demand. As more and more people hold off on replacing
their roof, contractors will attempt to get more business
by offering more attractive pricing. Less demand will also
Maybe Hold Off On Remodeling Or Putting help eliminate the inventory shortages, which have been
On That New Roof the cause of increased prices of the roofing materials.
The COVID situation has created numerous problems
By Jim Weix in the supply chain across the board. The cost of almost
For a variety of reasons, every type of building material has risen. In some cases,
the cost of many remodeling like lumber, these increases have been dramatic.
projects have soared. Fortunately it looks like this inventory situation will
Supply shortages and high eventually correct itself. We can help it along though. If
demand have created a price people stop buying 2 x 4s, the price of a 2 x 4 will drop.
bubble, which is expected Jim Weix is a broker associate with The Keyes
to last until mid-2022. Company. Jim has 24 years of experience selling real
In some situations, estate full time. If you have questions or want the services
contractors are so busy that Roofing prices have skyrocketed in some neighborhoods due of an experienced expert, you can reach Jim at (772) 341-
they raise prices beyond to high demand. 2941 or jimweix@jimweix.com.
just their increased cost of
material. They do it simply because they can.
In Palm City, residents of two subdivisions have been
busy replacing their clay barrel tiled roofs due to age. Last
year the cost of replacing those roofs was about $38,000.
These villas have a shared roof, so each owner would
pay $19,000. Now the total cost is $56,000, or $28,000
per owner.
Will these prices go down? Most likely. As the
inventory of this roof material increases, and with
competition between roofing contractors, the roofing
costs should drop. One particular roofing company was
getting most of the work. Now other roofing companies
are entering the market and offering to do the job for
$5,000 less.

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