South Shore Millwork is expanding!

We have been quiet on the blogging front the past couple of months, but in the shop at South Shore Millwork, it’s been everything but!

First, we expanded our executive team. We hired a new vice president of business development and consulting.

Second, we are expanding our architectural millwork shop. We got approval to add 47,000 square feet.

Third, we are expanding our ways of protecting and helping the environment. We are adding a solar array on top of the new building, and a solar array field on the grounds behind it.

Expansion #1: Meet New Hire Wayne Barthe

We recently welcomed Wayne Barthe to the executive management team at South Shore Millwork. He is our new vice president of business development and consulting. And, let me tell you, Wayne wasted no time hitting the ground sprinting! But, before we get into what he’s been up to around here the last couple of months, let’s give you a little background on Wayne.

Wayne’s credentials

Having spent the last 20 plus years in various executive positions employed by firms like Deloitte Financial Advisory Services, LexisNexis, Wilmerhale and Fidelity Investments, Wayne brings solid, practical business and strong client relationship experience to his role at South Shore Millwork.

To complement his business experience, Wayne holds a bachelor’s degree in business administration from Northeastern University, and project management certification from Boston University.

Why was Wayne selected for this position?

According to Owner Jeff Burton, he was looking for a business development leader who would not only further expand South Shore Millwork’s market presence in New England and take us into Connecticut and New York, but he was also looking for someone with excellent business acumen, a solid reputation, and an ability to figure out and understand the needs of sophisticated customers.

Wayne’s areas of expertise

  • Uncovering and developing new business opportunities
  • Building and maintaining successful, long-term professional relationships
  • Helping clients overcome challenges by presenting them with applicable options and solutions
  • Negotiating and managing large-scale, complex projects

Why Wayne chose South Shore Millwork

When asked what drew him to South Shore Millwork, Wayne says, “I was drawn to South Shore Millwork for its recognition as an industry leader. I am excited to be part of a growing company that makes decisions quickly and responds to customer requests at a moment’s notice.”

Wayne outside of work

Wayne lives in Norton with his wife Kathleen and their three children, and is actively involved in several charitable organizations including:

  • American Lung Association – Cystic Fibrosis Foundation
  • Habitat for Humanity
  • My Brother’s Keeper
  • City of Hope

What has Wayne been up to the last couple of months?

During the past few months, Wayne has entrenched himself in learning who South Shore Millwork’s current and previous clients are, and making every effort to introduce himself to as many as possible. In addition to client introductions and responding to new requests, Wayne has been working on updating marketing collateral and avenues to promote South Shore Millwork. We are expanding our target markets to include, Connecticut, New York and the Islands. And, Wayne has been involved with managing the company’s Solar Project initiative.

If you would like to discuss a project, give Wayne a call at 781.738.3012 or contact him via email at wbarthe@southshoremillwork.com.

In the coming days, we will be updating you on the other two expansions: the mill shop and solar projects, so please, stay tuned!

 

Boston Luxury Home Market Spiraling Upwards

boston luxury home marketBanker & Tradesman reports that April sales of Boston area luxury homes “suggest the past month will be the highest total for $1 million-plus single family home sales since 2008.  While the final tally is not yet rung, the (94) $1-million plus condo sales recorded in April are at the highest total for that month in more than 10 years and the second highest single sales month for luxury condos since August 2003, which has (117) $1 million-plus sales.”  Banker & Tradesman also notes that “it’s not only the Hub and its spokes which have seen a revival.  The Cape and Islands are also seeing brisk sales.”

So how does the Boston market compare nationally?  Redfin, the online real estate brokerage, reported on their blog recently that Boston ranked fifth in the top $1 million-plus home markets in the country based on homes sold January 2012 to March 2013.  Boston is the top market outside of red-hot California.

Rankings:

  1. San Francisco, CA
  2. Los Angeles, CA
  3. Silicon Valley, CA
  4. San Diego, CA
  5. Boston, MA
  6. Phoenix, AZ
  7. Seattle, WA
  8. Chicago, IL
  9. Washington, DC
  10. Dallas, TX

luxury housing market, custom architectural millwork, woodwork, Boston, MA, New EnglandLack of inventory seems to be the key reason for the rise in luxury home sales.  Banker & Tradesman notes that “[luxury market] buyers and sellers have the resources to hold out for the property or the prices they really want, and are less likely to be in a rush to secure a mortgage at a given interest rate.”  But with the limited availability of luxury homes for sale, buyers are feeling pressure to make a decision more quickly on a property they want.

Furthermore, the low inventory and strong demand in the marketplace is creating bidding wars. CNN Money reports that “in Cambridge, two condos that have been combined into one large home hit the market…for $800,000 each” according to Pat Villani, president of Coldwell Banker Residential Brokerage in New England.  Pat says “the brokers stopped taking names after the number of bidders reached 250.  The winning bidder offered $2 million for both units.” Gradually more inventory will become available but it will take awhile to meet the demand.

Whether you plan on renovating or building on your recently purchased luxury property, South Shore Millwork can help.  Our Boston Massachusetts area based luxury millwork company provides all types of custom architectural woodworking such as custom cabinetry, doors, windows, and trim. Services include design, engineering, project management, fabrication, finish, delivery, and installation provided in the Boston area, throughout New England and beyond.

luxury home indoor swimming pool, custom architectural millwork, woodworking, Boston, Massachusetts, New England

Interesting & Informative Housing Industry News

Custom windows, doors, trim, columns, custom millwork, custom woodwork, Boston, MA, New England,

Custom windows, doors, trim, and columns by South Shore Millwork

Last week the S&P/Case-Shiller home price indices were released.  The monthly report is a leading measure of U.S. home prices.  The data released on January 29, 2013 showed the best yearly gain in home prices since 2006, when the housing market started to slip.

S&P/Case-Shiller reported “In the 12 months ended in November, prices rose in 19 of the 20 cities and fell in New York… Phoenix led with the fastest price rise – up 22.8% in 12 months as it posted its seventh consecutive month of double-digit annual returns.”  Closer to home, the index reported an annual increase of 2.3% in home prices in the Boston area market.

The report also mentions that “Housing is clearly recovering. Prices are rising as are both new and existing home sales.  Existing home sales in November were 5.0 million, highest since November 2009.  New home sales at 398,000 were the highest since 2010.  These figures confirm that housing is contributing to economic growth.”

Furthermore, the latest report from The Warren Group’s Banker & Tradesman says “The number of completed foreclosures in Massachusetts dropped by almost 13% in 2012 to 7,424 down from 8,531 in 2011.”

And if low interest rates, home prices rising, and the decrease in foreclosures are not positive enough signs for the housing industry, demand is outpacing supply.  Prashant Gopal reported in Bloomberg that almost a third of the listings in Washington D.C., Denver, and Seattle are under contract in two weeks or less.  Gopal goes on to say “One home in Washington attracted 168 offers in December and sold for almost twice the asking price.  About 70 people lined up last month for a lottery to select buyers for four available houses in a San Ramon, California, subdivision where, in August, bidders camped for weeks to secure purchases.”  This may be partly due to “a 12-year low in U.S. home listings that is driving up home prices and preventing transactions from returning to normal levels” according to Gopal.

Finally the future is looking brighter.