November 2022

President's Message

BANNJ President Thomas Petersen

Many thanks to BANNJ Chairman of the Board, John Cioletti, and his team at Reno’s Appliance for hosting a fantastic Annual Pre-Holiday Networking Party in their beautiful Paterson showroom.  BANNJ members joined nearly 300 industry professionals and enjoyed this upbeat gathering filled with delicious food, live music and entertainment and of course, prizes!   See all event photos here https://www.bannj.org/image-gallery/.

Next up, we have two great events to finish the year.  On Thursday November 10^th, Sub Zero will host a Thanksgiving Cooking Demonstration & Tastings event in their state-of-the-art Pine Brook showroom just in time for the holidays.  Learn how to make your favorite dishes while team building and networking with industry peers. 

 

Thanks to BANNJ Ambassador, Kristie Davida, our Turkey Day Sponsor for the Sub Zero event.

 

On Thursday, December 1^st, join us for a holiday gathering at the beautiful Wayne Tile showroom in Ramsey and learn how to protect your business and personal data from criminals in this Cyber Crisis.  Our experts will discuss what to look out for and offer solutions. This information is invaluable, especially at this time of the year.

SAVE THE DATE**Annual Installation & Awards Dinner @ The Graycliff will be on Thursday, January 26^th 2023.

 

Congratulations to our Ambassadors and recruiters for helping to increase our membership during the NAHB membership drive and make BANNJ a winner in the contest!

Sub-Zero, the food preservation specialist, pioneers technology that keeps food fresher longer. Wolf, the cooking specialist, delivers control so precise delicious results are practically ensured. Cove, the cleaning specialist, guarantees spotlessly clean dishes and near-silent operation. When it comes to performance, design, and customer care, these three specialists are of one mind. They are built with premium- grade materials, tested to perform for decades, thoughtfully and beautifully designed, and backed by the dedication of our family-owned company. We strive to deliver not only a stunning, high-performing kitchen but an invitation to embrace every delicious moment of life. To learn more please reach out to your local trade representative or make an appointment to visit your local showroom at subzero-wolf.com.

Builders:

BuildPro Construction Services
Richard Osika
299 Market Street, Suite 220
Saddle Brook, NJ 07663
800-399-3745
rich@buildprcs.com

Associates:

All American Industrial Services
David Overgaard
PO Box 218
Park Ridge, NJ 07656
201-220-2984
david@allamericangroup.net

Brand Strategy, LLC.
Kenneth Papile
41 Elizabeth Terrace
Saddle River, NJ 07458
917-626-9260
sales@brandstrategy.com

New home sales drop in September after mortgage rates jumped

Sales of new single-family homes tumbled in September, despite rebounding the month prior, as would-be buyers continue to shy away from rapidly rising mortgage rates.

Home prices cooled at a record pace in August, S&P Case-Shiller say

Home prices are still higher than they were a year ago, but gains are shrinking at the fastest pace on record, according to one key metric, as the housing market struggles under sharply higher interest rates.

The pandemic housing bust? This interactive map shows how fast home prices are shifting in regional housing markets

Fed Chair Jerome Powell was frank with reporters last month: The U.S. housing market, he said, was in a “difficult correction.”   Pending home sales fell 10% in September, much worse than expected Pending home sales, a measure of signed contracts on existing homes, dropped a much worse-than-expected 10.2% in September from August, according to the National Association of Realtors   Housing market activity is crashing—and it threatens to push the U.S. into recession just like it did in 1981 and 2008 The go-to line this year from analysts and economists alike is that “The Fed will push until something breaks.” Increasingly, it’s looking like that “something” might be the weakening U.S. housing market.

Thursday, November 10^th- Join Sub Zero Corporate Chef, Ann Marie, for this team building cooking class with a Thanksgiving holiday theme!  Meet us with some of your colleagues in the beautiful SZ newly renovated Pine Brook showroom and get some useful tips to prepare your favorites for the holidays while making business connections. 5:30pm.

Thursday, December 1^st- Holiday Gathering! 

Industry Speaker on How to Protect Your Business from the Cyber Security Crisis. 

 5:30 PM at Wayne Tile, 55 Spring Street, Ramsey, New Jersey

Thursday January 26, 2023-Annual Installation & Awards Dinner @ The Graycliff 6:00PM
Join us as we celebrate the new year and honor our incoming local association leadership.  Enjoy a wonderful dinner, open premium bar and live music by our returning fantastic band, Whisky Helps.

Register for all events at https://members.bannj.org/events