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Why CSRA Kitchen & Bath Remodelers Need To Advertise Now

May 20, 2021 2:55:11 PM / by Larry Julius

In 2021, according to Nielsen, 30,023 Augusta, Georgia area homeowners are expected to spend $269 million on kitchen and bathroom remodeling. This would be an increase of 16.8% increase over last year. Sales estimates are based on data from The National Kitchen & Bath Association (NKBA).

Because of the ongoing pandemic, 278,000 Central Savannah River Area are in the process of reassessing their living spaces.

According to the NKBA, homeowners cite the kitchen and bath areas as two times more important than other spaces within the home, and the kitchen particularly gained status throughout the COVID-19 pandemic, with 70% of homeowners considering it extremely important compared to 64% before the crisis.

“After such a strong year for home remodeling in 2020, some wondered if we were approaching a home improvement spending ‘cliff.’ We’re pleased to say that’s not what the kitchen and bath market is expecting in 2021,” said Bill Darcy, NKBA CEO.

“Last year, homeowners started the work of improving their living spaces with DIY projects. And this year, with early distribution of the vaccine and other measures to reduce the public health impact of the virus, we expect to see continued renovations and more projects requiring our members.”

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Topics best way to advertise, best way to advertise in augusta, best way to advertise in csra, consumer spending, radio advertising, home improvement, remodeling, home value, home owner, kitchen remodel, bathroom remodel, construction

CSRA Homeowners Plan To Spend Stimulus Cash On Improvements

Mar 15, 2021 4:24:08 PM / by Larry Julius

Central Savannah River Area residents will begin receiving economic stimulus checks  from the Internal Revenue Service as early as today.  In all, local consumers will receive more than $705 million in payments.

This infusion of cash into the Augusta area economy was authorized by Congress last week in the American Rescue Plan legislation. 

The stimulus relief legislation calls for a one-time payment of $1,400 to single adults. Married couples who filed jointly will receive $2,800 total ($1,400 apiece). Families will get an additional $1,400 for each eligible dependent regardless of age. A family of four could get $5,600 in total payments. Like the second round of stimulus payments, the third round specifically prohibits payments to anyone who died before January 1, 2020.

Many of the stimulus dollars will end up in the wallets of 141,000 Augusta, GA area homeowners. Based on research from Modernize, a leader in the home improvement and home services industry, 57% of these consumers are planning to spend all or part of their checks on home improvement projects.

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Banks and Credit Unions Reach ReFi Customers On Augusta Radio

Sep 12, 2020 10:35:42 AM / by Larry Julius

There are approximately 134,000 households in the Central Savannah River Area with existing mortgages, according Nielsen. The median value of these homes is $161,000.

Yesterday, there was extraordinary news for many of these borrowers and for CSRA banks, credit unions, and mortgage companies

According to The Federal Home Loan Mortgage Corporation (Freddie Mac), mortgage rates have hit an all-time low of 2.86%.

 
With interest rates at this new level, 20 million American homeowners can now refinance their existing mortgage, according to Black Knight, a data analytics company specializing in homeownership life cycles. 
 
By refinancing an existing mortgage, a Augusta area homeowner could considerably reduce the length of their loan or lower the amount 
of their monthly payments.
 
Local banks, credit unions, and mortgage companies create a great deal of revenue from refinancing. 
 
Generally, a lender can expect to earn two to five percent of the loan principal amount in closing costs, according to BankRate.com. For a $200,000 mortgage refinance, for example, closing costs could generate between $4000 and $10,000.
 
For local financial companies to claim a significant share of the expanding refi market requires advertising. By any metric, advertising on Augusta radio is the most effective way to reach homeowners.
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Topics best way to advertise, best way to advertise in augusta, best way to advertise in csra, radio advertising, mortgage, bank, mortgage broker, refinance, home owner, advertise on radio, credit union, homeowners

Advertising On Augusta Radio Helps A New Small Business Double Sales

Mar 30, 2020 5:57:20 AM / by Larry Julius

"I can tell which weeks we are advertising on the radio," says Colby Orr, "because our showroom gets busy and phones start ringing."

Mr. Orr and his wife April opened Olympus Granite on Bobby Jones Expressway last June.

Before buying the store, both Mr. and Ms. Orr had considerable experience in granite countertop retailing and as entrepreneurs. They purchased the current business from a struggling owner, changed its name, and locations.

"The store had been on Washington Road in Evans. But we wanted to be in a location with more traffic. Now, we have 100,000 cars a day pass by," says Mr. Orr. "That's interstate type traffic."

For the first few months, most visitors were drawn into the showroom by the giant slabs of polish granite placed along the side of the road.

"They are like giant billboards," says Ms. Orr. "Curious drivers would pull in to see what we were all about.  That's how we got most of our first customers."

"During our first three months our sales were averaging $100,000," says Mr. Orr. "We were paying the bills, but we needed more to help us to grow."

Mr. Orr believed radio advertising could accelerate sales. But, his wife was skeptical".

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Topics best way to advertise, return on investment, roi, radio advertising, small business owner, small business, home improvement, home owner, home repair, new business, kitchen remodel, bathroom remodel

Why CSRA Mortgage Lenders and Brokers Need To Advertise Now

Mar 6, 2020 3:03:32 PM / by Larry Julius

There are over 362,000 consumers in the Central Savannah River who own their own home. 

According to Zillow, more than 60% of homeowners carry a mortgage. A record number of owners are considering refinancing  now, which means millions of dollars in fees for local lenders and brokers are up for grabs.

Why the sudden urgency for CSRA homeowners to refinance their mortgages?

According to The Federal Home Loan Mortgage Corporation (aka, Freddie Mac), "The average 30-year fixed-rate mortgage hit a record 3.29% this week, the lowest level in its nearly 50-year history."

"Meanwhile, mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down. Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s clear the housing market continues to be a positive force for the broader economy."

If a consumer Googles 'refinance my mortgage in Augsuta Georigia, more than 855,000 results come back, So, to set themselves apart, lenders and brokers will need to advertise.  By, any key metric, advertising on local radio is the best way to reach area homeowners.

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Topics best way to advertise, consumer spending, radio advertising, small business owner, small business, african american consumers, financial services, financial planning, home buyers, mortgage, bank, mortgage broker, home value, refinance, home owner

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