CONSTRUCTION ESTIMATING NEWS (update by every month)
Construction has started picking up more rapidly in recent months. According to Forbes, construction starts in January were up 10% nationally from January 2011, and some major metros in particular like NYC, Dallas, Houston, Phoenix are seeing an uptick in new construction.
In the past, construction lenders have looked to independent, third-party consultants to help manage construction lending risk. Having gone through the recession and construction halt, many lenders are understaffed and the need to rely on 3rd party firms may be greater than ever. With industry specialized expertise most lenders don’t have, 3rd party consulting firms have become a crucial asset to any commercial lender. Construction Risk Management is no exception.