Interim Price List Update Now Available for Additional Areas Impacted by Gustav and Ike

OREM, Utah—Nov. 03, 2008— Please be advised that Xactware has just published an interim price list update for additional regions that FEMA has recently declared disaster areas impacted by damage from hurricanes Gustav (US landfall on September 1, 2008) and Ike (US landfall on September 13, 2008). This involved 12 specific regions in the states of AR, FL, LA, and OH.

Pricing Areas Published
Pricing information for areas in and around the following US cities have been published:

Fayetteville, AR Tallahassee, FL Lima, OH
Jonesboro, AR Monroe, LA Mansfield, OH
Panama City, FL Akron, OH Newark, OH
Pensacola, FL Canton, OH Portsmouth, OH

A summary of the increases in this publication are as follows (average increases across all areas impacted by this interim update since the October 1st publication):

25 yr composition roof shingles (material and labor) 1.6%
30 yr composition roof shingles (material and labor) 1.5%
Billable labor rates 3.3%

Note – the above percentage changes are calculated as an average of all 12 regions which have been published for this interim update. Actual changes in each area can vary from these averages significantly.

Xactware is continuing to monitor costs in each market and if needed, will publish again prior to the regularly scheduled date of January 1.

It is critical to understand that Xactware’s published pricing is based solely upon completed surveys as well as an analysis of returned estimates in each area, and that demand surges in material and labor can cause potentially rapid price changes. As such Xactware is not able to guarantee that the prices reported to us will be appropriate for every claim, or for the life of each version of the price list. We encourage all customers to monitor local prices, make changes to line item costs when needed and / or submit pricing feedback to Xactware. Pricing feedback can be submitted either from within Xactimate itself or online at: http://xactnet.com/feedback.

Despite a short term increase directly after hurricane Ike, gasoline prices continue to decline.
Nationally gasoline prices have dropped 29% ($1.055 per gallon) since the price list publication which occurred on October 1. The US Dept of Energy website reports the aggregate price (all grades combined) to be $2.589 / gal as of October 27. This is the lowest price reported since March 2007. See the US Dept. of Energy website for details at: http://www.eia.doe.gov/oil_gas/petroleum/data_publications/wrgp/mogas_history.html

Naming Convention for this interim update
Price lists generally use a “year” and “quarter” code within the name to designate the date in which they were published. For example, those published for 4th quarter 2008 received an “8D” at the end of the name. This code represented the year (8 = 2008) and the quarter (D = 4th quarter) respectively.

For this interim update, price lists will have a code of “03NOV08” rather than the standard year and quarter designation. You will note this new name in your list once downloaded.

To download a price list in Xactimate:
To use this method, you must be a registered XactNet user.