Bear Creek Lumber

Quality. Value. Expertise. Since 1977

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Volume 18 Number 2
February 2004

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In This Issue:
Customer Photos and Comments
Question of The Month
Industry News
End of Winter Specials
Aloha From Bear Creek Lumber
Bear Creek Lumber can been seen on the job in Hawaii. Custom built timber trusses are pictured below. Bear Creek Lumber arranged for the entire fabrication of these Douglas fir and steel trusses. Also pictured below is Makalevena beach on the Big Island.
Tropical Construction
Bear Creek Lumber Can Help
Throughout the years, Bear Creek Lumber has been assisisting builders who have special requirements due to their tropical building conditions. Wind, heat, insects, and moisture all pose challenges to the builder and the home owner.
The products that Bear Creek Lumber can supply builders are often the most adapted for these conditions, especially the cedar, cypess and redwood. Working with builders in places such as Hawaii, Bear Creek has added such items as mahogany, Ipe and jatoba to its in-stock items. These are popular because of the longevity they enjoy in humid climates.
When it comes to containerizing loads, Bear Creek Lumber also has an extensive background. Call us for your tropical building material needs!

Customer Photos and Comments
Merry Christmas from MO
Hope some of the people that have looked at our house, and asked where we got the wood, contacted you. (Living room and siding left and above, showing Blue stain pine interior roof decking, WRC 1 x 8 siding)
In any case, Best Wishes for the New Year.
 Walt M. - Joplin, Missouri
My lumber buying experience was excellent.
Pictured above is Bear Creek Alaskan yellow cedar sidewall shakes and sleect tight knot 1 x 6 tongue and groove.
William T.
Wislasset Maine
A couple of years ago I purchased Douglas fir lumber and timbers for a complex staircase. (Pictured above) Doug fir #2 stringers,4 x 4 newalls, 2 x 6 hand railing and 2 x 12 stair treads mortised into the stringers. Everything turned out great!
Steve Hansen, Hanson Construction
Bentonwille Arkansas
Question of the Month:
Do You Do East Coast Deliveries?
As I read the return comments from our annual TIMBERLINE questionaire, I saw several people mention that they would buy from Bear Creek Lumber except for the fact that they are on the East Coast. I wanted to clarify that we do make East Coast deliveries, as well as deliveries to any part of the world. Give us your materials list and we will give you a delivered price, that you can compare to your local supplier. We can send samples/samples are $20.
Bear Creek Lumber's quality is worth the effort. We believe that you will find that we can deliver as quickly (weather conditions aside) as any supplier in your area who is special ordering material for you, especially when it comes to custom milling. Our pricing should be competitive but its its the quality that usually is the reason our customers keep coming back.
As you can see from the pictures above and on the right, we have happy customers from all over the East Coast who, no matter what product they bought, had good results.

Would you recommend Bear Creek Lumber?
Of our respondants to our annual questionaire to date, 97% have replied YES, they would recommend Bear Creek Lumber to others.
Other Comments:
Service and materials have always been great
Gary K.
Quakerstwon PA

Great quality lumber!
Larry B.
Plattsmouth NE

I have spoken with a number of your sales staff and you guys are the best.
Jim H.

Industry News
U.S. home prices rose 1.39 percent in the third quarter, the best quarterly pace of the year. But year-over-year appreciation was just 5.61 percent, the lowest increase since the fourth quarter of 1999, the Office of Federal Housing Enterprise Oversight said Monday. The third-quarter figure breaks a recent trend of decelerating price growth quarter over quarter, but the numbers still show house-price growth over the past four quarters has moderated significantly from preceding years.

The Commerce Department reported in January that residential construction sizzled in November, reaching the highest level of activity in 17 years, a fresh sign that the red-hot housing market is helping to fire the economy’s recovery. The department said that builders broke ground on 1.96 million units, at a seasonally adjusted annual rate, representing a 2.9- percent increase from September’s pace. The level of activity marked the strongest monthly performance since January 1986.
2004: Its All Good

The nation’s home builders are particularly enthusiastic about the growing demand for homes and apartments. They are positioning themselves for another record year of activity and sales.
“Based on our expectations for mortgage rates, house-price performance, household formations and overall economic conditions, we’re very optimistic that demand for new homes and apartments will settle at a slightly lower, but still-robust level in the new year,” said Kent Conine, president of the National Association of Home Builders.
“With most, but not all, of the data in for 2003, it’s obvious that this has been a record-breaking year for the single-family market and for homeownership generally. Not only will new home sales break the million-unit mark for the first time, but it’s now apparent that total production of new single-family homes in 2003, including homes built on the owners’ lots, will hit the highest level in history, at about 1.5 million housing units.”
He also noted that the evolving market fundamentals, including a modestly higher interest rate projection, stronger job and income growth and maintenance of strong demographic foundation will keep single-family market activity at an elevated level throughout 2004.
New home sales are expected to again eclipse 1 million units in 2004. On the production side, construction starts of single-family units should decline about 3.5 percent from 2003. In the multifamily sector, a strong condo component and solid production of federally subsidized low-income rental housing will continue to provide essential support to the market and better job growth will help combat high vacancies in rental housing.
Remodeling of existing housing - primarily improvements to owner-occupied homes - will continue to be a major factor in terms of housing-related spending in 2004, according to NAHB.
Housing Study Confirms Housing Strengths
Harvard University’s Joint Center for Housing Studies reported that a new study confirmed the importance of housing wealth in sustaining consumer demand in the current jobless recovery.
“Homeowners converted an estimated $180.2 billion of their (home) equity into cash during 2001-02, investing as much as a third of that amount on remodeling,” the report said.
During that two-year period, home equity climbed $405 billion, partly offsetting a $1.4 trillion drop in stock portfolios.Since more people own homes than stock, home equity gains have a bigger impact on spending, according to Federal Reserve estimates.
“Inflation-adjusted home prices rose faster in 2001 than at any time since 1978, and nearly as fast again in 2002,” the report said.Despite concerns about the economy’s reliance on housing wealth, the Harvard report said fears of a housing bubble “seem overblown.” The cities such as New York, Boston, and Miami where home prices have risen most relative to incomes, have a scarcity of developable land, the report says. And experts agree.
“Overpricing seems to be primarily confined to very supply-constrained areas,” said John Burns, founder of John Burns Real Estate Consulting in Irvine, Calif. Any decline would be modest, the Harvard report said. “When housing prices deflate, they do so slowly. Many owners choose to stay put when prices soften. This reduces the number of homes on the market and helps bring supply and demand back in balance.” For now, “(Housing) production appears to be running in line with long-term demand.” The Harvard report expects household growth, the primary driver of housing demand, to top 12 million this decade. Immigrants should account for one-fourth of the growth, and minorities two-thirds.

Editor: Ela Bannick ela@bearcreeklumber.com Feature Writer: Sage Bannick sagebannick@aol.com

2007

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