The CPSC and Westinghouse Lighting have issued a recall for some of its 24, 3o and 42 inch blade diameter ceiling fans. The 60 watt bulbs that come with the fans can exceed the unit’s maximum wattage and overheat, becoming a fire and shock hazard. The recall is in effect for approximately 7,000 units sold in the United States.
Three NPI/GPI business owners are expanding and hired on a new employee. Charlie & Nancy Swensen hired Terry Drake, Rich Buhrman of Hedgesville, WV hired Kenny Smith Jr., and Todd Newhook hired on Wayne Priestly. Congratulations on expanding your business and becoming part of the NPI/GPI family.
The U.S. Economic and Housing Market Outlook, released by Freddie Mac in March, is showing positive signs of recovery for the American housing market. The data shows stabilization in the national housing market as a whole. Housing starts from November through February averaged almost 700,000. This is up 19% from the pace during the 12 months prior.
The CPSC and Leggett & Platt have issued a recall for “Titanium”, “Gold”, “Signature”, and other brand name adjustable mattress bases. The electronic components of the motor control board for the mattress base can overheat and become a fire hazard. The recall is in effect for approximately 25,000 units.
According to a recent International Franchise Association (IFA) index, franchise growth in February 2012 rose 1.4% for one year. This would mean the largest gains since the middle of 2008. Forecasts from IHS Global Insight, working with the IFA, project a 1.6% increase in franchises in 2012.
Three new franchisees have joined NPI: Geoff Lowrey of Winter Haven, FL, Charlie and Nancy Swensen of Poulsbo, WA and Doug Versaw of Golden, CO. Welcome to National Property Inspections to all three of you!
NPI and GPI each have an inspector celebrating their 5th year anniversary: Steve Matolka of Gastonia, NC and Brian Kuch of Burlington, ON. Congratulations on a great 5 years and many to come.
The United States’ GDP is looking to make solid gains this year. It is estimated that it will grow from 2.2% in 2012 from last year’s 1.7%. One area fueling this increase is household purchases. This category, which makes up 70% of the U.S. economy, will rise to a rate of 2.4% by the end of the year. This will be up from 1.9% at the beginning of 2012.
NPI has been listed in Entrepreneurs’ top 100 “Low Cost Franchises” list for 2012. We are proud to be part of the list, which compiles the best franchises that have a startup cost of less than $50,000.
The National Association of REALTORS Local Market Report is showing a marked downturn in foreclosures in even the most troubled housing markets in the country. From June of 2011 to December of the same year, the national foreclosure rate decreased .1%. This brings this number down to 2.7% for all homes in the U.S. The housing crash deeply impacted certain areas more than others in 2009 and 2010, but progress is starting to show. The largest decreases in foreclosure rates took place in Miami, Fort Myers, Orlando and Sarasota. 113 of 163 housing markets had improving housing markets by December of 2011.