Although abandoned construction projects are relatively uncommon, they are something that should be on your radar – especially as they impact your business. Abandoned construction projects can indicate a few things: The condition of the property doesn’t match its completed post-construction value/exposure Part of the project may not have been built to safety code which can put a …
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There’s been a huge uptick in residential remodeling in the last several years. In some states, homeowners are investing more on average than others. To find out which states are spending the most, BuildFax analyzed the more than 80 million residential properties in our database to determine the average remodeling job cost per state in 2016 (for recorded job …
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It’s been more than eight years since the Great Recession in which both commercial and residential construction took a hit. The drastic drop happened quickly, but where is the market headed now, specifically for the commercial space? We recently compared commercial new construction and commercial remodels over the course of the Great Recession. Based on …
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We recently compared residential new construction and residential remodeling permit activity over the lifecycle of the recent housing crisis. We found that residential remodeling activity has surpassed its pre-housing crisis peaks while new construction has barely kept up. “Given that we are looking at more than a decade of data,” said Holly Tachovsky, CEO at BuildFax, …
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What can you do with building permit data? Building permit data can reveal a wealth of information on a property. Because the permit process involves a series of inspections, just knowing that a building had a permit pulled in the last 12 months means an inspector was at the property, making sure the work done …
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One of the first questions we usually get from insurance carriers is, “Do you have commercial property data?” The answer is yes! We have a ton of it. Here’s an infographic that breaks it all down. Check it out!
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A Couple of weeks ago we spoke with Sefton Patton about how the remodeling boom affects premium leakage. Check out our infographic on the topic!
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You’re finally ready to make those long-awaited home improvements and you’ve secured a contractor to help carry out the work – but you’ve still got one big question: What’s a building permit? Building permits are documents that prove construction projects, such as kitchen renovations or a home remodel, have been done in compliance with local …
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