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Posts Tagged ‘pool and landscaping’

Small Businesses and Contractors Largely Affected by Nation’s Struggling Economy

As this nation remains in one of the largest recessions in the past {60 years, there are many industries that are adversely affected, but go unnoticed~Many industries and U.S. businesses are struggling indirectly because of the national recession~The biggest recession that U.S. residents and businesses have seen in the past 6 decades continues to indirectly affect many industries}.  The main discussion has been on the housing market, financial loans, stock market, and the banking business.  Many of these markets are inter-related in some way, but many major industries that affect millions of Americans are not far off.

Experts will concur that the housing market has taken a huge blow, and the property values in Phoenix, Arizona sits at the center of this issue.  These buyers all have property that has greatly depreciated in value over the past twenty four months (sometimes being down tens of thousands of dollars).  Loss of equity has caused many residents to just vacate their homes, in fact, bank repossessions are higher than they have ever been. 

For those homeowners who are not affected by unemployment, housing market decline, and stock market woes – they can quickly find out they are incorrect.  By keeping their money out of the stock market, many investors are keeping their money in their property and homes.  Local banks and credit unions can usually provide this type of home improvement loan.  Over the past 24 months, these loans have not been available for prospecting buyers of home improvements such as home remodeling, swimming pools and landscaping.

The swimming pool industry in Phoenix has been one of the largest businesses affected, since financing a swimming pool or landscape project was the best choice for over 65% of swimming pool customers.  If a pool loan is not obtained, swimming pool and construction companies end up losing the sale, or selling a job that is much less than expected.  Phoenix pool builders have taken a huge hit, often closing their doors, down-sizing, or diversifying into other markets.  Some swimming pool companies have diversified into other venues such as pool remodeling, general construction, and even landscaping.  Some general contracting companies and home remodelers have switched entire industries, trying their hand at completely different fields of work.  By offering other landscape features such as outdoor kitchens, Phoenix BBQ islands, fire pits, and travertine patios, many Arizona Landscaping Contractors are producing extra money.

Unique Landscapes and Custom Pools, a swimming pool and landscape Phoenix company, figured out how to diversify it’s products and services many years ago.  As Phoenix landscape and pool builders, along with a general contractor license, Unique Companies are able to provide its customers with many facets of residential landscaping and swimming pools.  “By diversifying a few years prior into swimming pools, landscapes and general construction, our company has been able to keep working during these challenging times.  However, the inability for our motivated buyers to get construction lending or loans has been crippling.”

“It’s tough to think about all the money that was given to banking industry just a few months ago for these loans, and now it’s near impossible for our buyers, who want to buy our products, to get this money” claims business owner Chris Griffin, of Unique Landscapes and Custom Pools in Mesa, AZ.  Maybe it’s time for the government to look a little further into some of the struggles of the smaller companies that are greatly affected by this struggling economy.  “I don’t see the light at the end of the tunnel yet, but I can tell it’s there….” claims Griffin, “Pool financing in Phoenix is getting a little better”.