Many communities have a “neighborhood watch” program to ensure the safety of their inhabitants. Michael Staffileno keeps his eye on neighborhoods, too, but for an entirely different reason.
Staffileno, the president of Chagrin River Co., in Chesterland, Ohio, takes notice of the applications that are submitted to the local architectural review boards. “I look at the size of the project to see the depth of people's pockets,” he says.
If most of the planned jobs are larger, it's a good sign; people are feeling comfortable and secure enough to spend money and to make substantial investments in their homes. If he sees a lot of smaller jobs — siding and window replacement, for example — he knows that times are tough and that business will be slow.
On a related note, Staffileno also pays close attention to the streets where the jobs are being done. If the projects are in the more affluent Cleveland suburbs, he knows the jobs are probably bigger.