October 2022

 

President's Message

BANNJ President Thomas Petersen

Thank you to over 140 members and guests who attended our Annual Business Showcase & Builders Beefsteak at The Elan on September 29^th to make the event a huge success!  Very special thanks to our Event Sponsors, Miele, Carter Lumber and Passaic Bergen Water Softening; Bread Building Sponsor, Andersen Corporation; and Beer & Dinner Sponsor Archuleta Builders.  Showcasing their products and services to the Northern NJ building community, we could not have had such a wonderful event without the generous support of our tabletop vendors: Andersen Corporation; Association Member Trust; Blue Ridge Lumber; Builders First Source; Crown Point Cabinetry; EZS Lighting/Kichler Lighting; Ferguson; James Hardie; LIXIL; Miele; Parksite; Pella; Procida Funding & Advisors; Reno’s Appliance; R.S. Phillips Steel; SAX, LLP.; ST Sales Corp +OS&B; SportProsUSA; Sub-Zero Wolf & Cove; TCB Sales, Inc.; Value Engineering Europe SLU; and Wayne Tile. 

Thanks to all those who donated door prizes and congratulations to the Procida team who won the bread building contest for charity to benefit St. Joseph’s Children’s Hospital.  See photos from this and all events on our website photo gallery here https://www.bannj.org/image-gallery/.

 

Our next event will be Reno’s Annual Pre-Holiday Networking Party on Thursday, October 20^th at the beautiful Reno’s Showroom in Paterson.  Join hundreds of industry professionals and make new business connections, see industry peers, enjoy fantastic food, beverages, live music, prizes and more!   

To round out the year, we have a fun team building cooking class and networking event at the Sub-Zero showroom in Pine Brook on November 10^th where you can learn the tricks of the trade from corporate chef Ann-Marie Soo Hoo to help with your Thanksgiving dinner preparations.   

On December 1^st , Wayne Tile in Ramsey will host a wonderful holiday gathering and attendees will enjoy networking and our expert speakers will give an overview on the very important issue of the Cyber Security crisis.  

 I hope to see many of our members and future members at these events!

 

 

Can't Miss Event!

Builders:

Malkhaz (Mike) Abuladze
Argo Construction Corporation
95 Chestnut Ridge Road
Montvale, NJ 07645
201-549-9090
mike@argodev.com 

Teddy Sakellaris
217 5^th Street Palisades Park LLC.
40 Monterey Drive
Wayne, NJ 07470
551-206-4728
ted.sakellaris@yahoo.com

Nicholas Wong
Titan Engineers PC
1331 Stuyvesant Avenue
Union, NJ 07083
908-624-0044
nwong@titanengineers.com
 

Associates:

Value Engineering Europe SL
Marcos Romero
Calle Ermita 3
Moncofa, Castellon 12539 Spain
marcos@ve-europe.com

Panasonic
Patricia Monks
151 South Maple Avenue
Park Ridge, NJ 07658
201-210-9994
patriciamonks@gmail.com

 

 

 

 

 

Rising interest rates slows building sales (video) Builders are offering new incentives to home buyers as sales slow down and mortgages rise. The pandemic's real estate jobs boom is turning into a bust as layoffs hit   As housing sales slow amid higher interest rates, thousands of workers who found jobs in the booming housing market of the pandemic are now facing widespread layoffs with steeper cuts expected ahead.    New home sales unexpectedly jump in August   New home sales unexpectedly increased in August from the month before, but the decline in median and average prices suggests that home builders are open for negotiation as the overall housing market cools.   More bad news for house buyers: Mortgage rates march toward 7%, reaching highest level since 2007   Mortgage rates continue to march toward 7%, putting pressure on people looking to buy a home. The 30-year fixed-rate mortgage averaged 6.7% as of Sept. 29, according to data released by Freddie Mac on Thursday.   Home prices cooled in July at the fastest rate in the history of S&P Case-Shiller Index   U.S. home prices cooled in July at the fastest rate in the history of the S&P CoreLogic Case-Shiller Index, according to a new report out Tuesday.   These 210 housing markets are now vulnerable to 20%-25% home price declines, finds latest Moody’s downgrade   Favorable millennial demographics. Tight housing inventory. Low unemployment. That’s why housing bulls said the Pandemic Housing Boom had more room to run.     *New at BANNJ-Ambassador Program Over the summer, our newly formed Ambassador Program volunteers met to discuss goals for the group.  The program is meant to enhance the mission of our association, mentor new and potential members at BANNJ events and promote events and the association pillars of membership, education, advocacy and business to business networking and opportunities in all four counties that we serve-Bergen, Passaic, Hudson and Sussex.  If you or someone from your company is interested in participating as a BANNJ Ambassador, please contact the BANNJ office at 201-843-6868 or bannj@bannj.org.    BANNJ Ambassadors from left front: David Gaynor, Middleton & Co, Derek Weissman, Procida; back: Alan Archuleta, Archuleta Builders, Executive Officer, Kathleen M. Kurpiel, President, Thomas Petersen, TP Builders/SportProsUsA, and Kristie Davida, Home Ateliers       Thursday, October 20th-Reno’s Annual Pre-Holiday Networking Party.  You are invited to attend this annual event and enjoy the generous hospitality of the Reno’s team while networking with familiar faces and new business contacts.  Fantastic food, beverages, live music, prizes and much more!  5:30pm. Thursday, November 10th- 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 1st- 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 Register for all events at https://members.bannj.org/events.